France: Consumers turn pessimistic in October
Consumer confidence came in at 98.7 in October, down from September’s 101.1. Consequently, the index moved below the 100-threshold, indicating pessimism among consumers.
October’s deterioration largely reflected growing pessimism over households’ assessment of their financial situation in the past and coming 12 months. On top of this, households’ expectations regarding the standard of living in the next year deteriorated, while consumers were less willing to purchase large-ticket items in the next 12-month period. Meanwhile, perceived inflation rose, with a larger share of respondents considering that prices will keep on rising in the next 12 months.