France: Consumer confidence remains stable in June
June 26, 2012
In June, the consumer sentiment index published by the National Statistical Institute (INSEE) remained stable at May's 90 points, the highest level since November 2010. The reading defied market expectations, which had the index inching down to 89 points. At the current level, consumer confidence remains below its long-term average of 100 points.
Households were slightly more downbeat about their own financial situation and the national outlook for the next 12 months. In addition, a higher number of households forecasted an increase in unemployment than in May. That said, consumers' willingness to make major purchases improved somewhat over the previous month.