France: Consumer confidence deteriorates
September 26, 2012
In September, the consumer sentiment index published by the National Statistical Institute (INSEE) fell to 85 points from the 87 points in July (no data for August). The reading came in below market expectations, which had the index inching down to 86 points. At the current level, consumer confidence remains below its long-term average of 100 points. Households were more downbeat about both their own financial situation and the national outlook over the next 12 months. In addition, a higher number of households forecasted an increase in unemployment than in July. Consequently, consumers' willingness to make major purchases deteriorated over the previous month.