France: Consumer confidence improves unexpectedly in October
October 26, 2010
In October, the index of consumer sentiment from the National Statistical Institute (INSEE) rose to minus 34 points from minus 35 points registered in September. The unexpected rise contrasted market expectations, which had seen sentiment deteriorating to minus 37 points. Despite the increase, consumer confidence remains well below its long-term average level of minus 19. In October, households' perceptions of unemployment improved, but remained above the long-term average. The sub-index regarding the general economic situation in the next 12 months improved from minus 47 points in September to minus 44 in October while the sub-index regarding the personal financial situation in the next 12 months improved from minus 19 points to minus 17 points.