France: Consumer confidence steady for third consecutive month in September
September 26, 2014
In September, the consumer sentiment index published by the National Statistical Institute (INSEE) remained at the 86 points recorded in both July and August. The print was in line with market expectations. As a result, the index still rests well below its long-term average of 100.
The stability of the index reflected the stand-by situation in which the economy is stuck, despite the government’s attempts to revitalize it and to foster competitiveness and confidence. Households’ opinion regarding their past and future financial situation was virtually stable over the previous month, while their future saving capacity deteriorated noticeably. In addition, consumers were more pessimistic regarding future employment, which also reflected the increased fears of worsening conditions in the labor market.