France: Consumer confidence stable in August
The consumer confidence indicator produced by the National Institute of Statistics and Economic Studies (INSEE) remained unchanged for the third consecutive month at an almost two-year low of 97 points in August. As a result, the indicator lies below the 100-point threshold—the proxy of its long-term average—where it has been since May.
August’s result was driven by households’ inflated fears of unemployment which were partly offset by their slightly more optimistic views regarding the standard of living in the next 12 months as well as by higher expected saving capacity. Meanwhile, consumers’ sentiment regarding their financial situation for the next 12 months and perception of prices remained broadly stable from the previous month.