France: Consumer confidence drops to 8-month low
October 26, 2012
In October, the consumer sentiment index published by the National Statistical Institute (INSEE) fell to 84 points from the 85 points in September, which was in line with market expectations. The reading marks the lowest level in eight months. 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. Consequently, consumers' willingness to make major purchases deteriorated over the previous month. That said, a lower number of households forecasted an increase in unemployment than in September, but expectations remain high.