France: Consumer confidence inches up in January
January 28, 2014
In January, the consumer sentiment index published by the National Statistical Institute (INSEE) inched up to 86 points and reached the highest level since February 2013. The print came just above the 85 points registered in December and overshot market expectations of the index remaining at 85 points.
The result came on the back of an improvement in households' perception of the country's economic situation as well as in their expected financial conditions. While their views on financial situation over the past 12 months deteriorated, expectations regarding the financial situation in the next 12 months improved. Moreover, consumers were more optimistic about both their current and expected capacity to save. On a less positive note, future employment expectations deteriorated in January after having improved markedly in December.
FocusEconomics Consensus Forecast panelists expect private consumption to inch up to 0.7% this year, which is unchanged over last month's forecast. The panel expects private consumption to accelerate moderately to 1.1% in 2015.