France: Consumer confidence remains stable in October
October 29, 2013
In October, the consumer sentiment index published by the National Statistical Institute (INSEE) remained unchanged at 85 points, which was the same level recorded in September and matched market expectations. Despite the fact that the indicator now sits at its highest level since February, it remains well below its long-term average of 100 points.
Consumers were more pessimistic about the situation of the labor market, as expectations for the next twelve months regarding unemployment worsened. However, this drop was offset by an improvement in consumers expected ability to save.
FocusEconomics Consensus Forecast panelists expect private consumption to inch up 0.1% this year, which is unchanged from last month's forecast. The panel expects private consumption to accelerate to 0.7% in 2014, which is up 0.1 percentage points from last month's estimate.