France: Consumer confidence remains depressed
April 27, 2011
In April, the consumer sentiment index published by the National Statistical Institute (INSEE) remained unchanged over the previous month at 83 points, matching market expectations that the index would remain at its lowest level since June 2009. At the current level, consumer confidence is well below its long-term average of 100 points, which does not bode well for private consumption in the coming months. Households were more optimistic about their future personal financial situation compared to the previous month. Despite this improvement, respondents to the survey maintained the same level of willingness to carry out major purchases. Finally, data showed deteriorations in households' current saving capacity and employment expectations.