France: Consumer confidence hits seven-month high in September
September 26, 2013
In September, the consumer sentiment index published by the National Statistical Institute (INSEE) matched market expectations and rose to 85 points. The print came in above the 84 points recorded in July and marked the highest reading in seven months. The INSEE did not release data for August. Despite the slight increase in September, the indicator remains well below its long-term average of 100 points.
Consumers were less pessimistic about their future financial situations in September. However, they felt more pessimistic about their ability to afford making large purchases. Consumers lowered their expectations regarding their ability to save, although they considered that there were good opportunities for saving.
FocusEconomics Consensus Forecast panelists expect private consumption to inch up to 0.1% this year, which is up 0.1 percentage points from last month's forecast. The panel expects private consumption to accelerate moderately to 0.6% in 2014.