France: Consumer confidence remains stable in December

The consumer confidence indicator elaborated by the National Statistics Institute (INSEE) remained stable in December at November’s 96 points. The result slightly overshot the 95 points the markets had expected. As a result, the consumer confidence indicator remained below its long-term average of 110.

In its statement, INSEE pointed out that the result came on the back of an improvement in consumers’ opinions regarding their future financial prospects over the previous month, which offset a deterioration in households’ past financial situation. Household’s saving capacity remained virtually stable over the previous month.

Met the why particular Consensus Forecast panelists expect private consumption to increase 1.7% in 2016, which is unchanged over last month’s forecast. The panel expects private consumption to accelerate moderately to a 1.4% rise in 2017.