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France: Consumer confidence stable in March

Staff Writer |
The consumer confidence indicator for France produced by the National Institute of Statistics and Economic Studies (INSEE) was unchanged from the previous month in March at its long-term average of 100 points, in line with market expectations.

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Since January 2017, it has remained at or above the 100-point benchmark, where it had not previously been since September 2007.

March’s print reflected consumers’ mixed views on the economy. While future financial situations recorded a notable improvement in March, consumers’ view on current savings capacity deteriorated, albeit remaining above its long-term average.

Looking at the macroeconomic components of the index, unemployment fears were unchanged from the previous month, with the component currently resting well below its long-term average.

Similarly, past standards of living declined for the second consecutive month. In turn, inflationary expectations for the next twelve months was perceived to be declining.

FocusEconomics Consensus Forecast panelists expect private consumption to increase 1.6% in 2018, which is up 0.1 percentage points from last month’s forecast. The panel expects private consumption to grow 1.5% in 2019.

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