France Consumer Confidence February 2017

France

France: Consumer confidence steady at over nine-year high in February

February 24, 2017

The consumer confidence indicator produced by the National Institute of Statistics and Economic Studies (INSEE) remained steady in February at the 100-point reading observed in January, matching market expectations. The indicator reached its long-term average of 100 in January for the first time since November 2007.

In its statement, INSEE pointed out that consumers’ views on the economy and their personal finances were broadly unchanged in February. Consumers were more optimistic regarding their savings capacity and mentioned that they were more inclined to purchase big ticket items in the surveyed month. Their views on their personal and future financial situations were virtually unchanged compared to the previous month and fears of unemployment did not experience major variations.

FocusEconomics Consensus Forecast panelists expect private consumption to increase 1.6% in 2017, which is unchanged from last month’s forecast. The panel expects private consumption to grow 1.3% in 2018.


Author: Jean-Philippe Pourcelot, Economist

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France Consumer Confidence February 2017

Note: Value of monthly consumer confidence index; long-term average at 100.
Source: National Institute of Statistics and Economic Studies (INSEE).


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