French consumer confidence rises more than expected
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Consumer confidence in France improved more than expected to a three-month high in January but still remained well below the long-term average.
According to the National Institute of Statistics and Economic Studies (otherwise known as INSEE), the household confidence index rose to 92 this month, up three points from 89 in December and ahead of the 90 reading predicted by analysts.
This was the highest reading since October, but below the average print of 100 since January 1987.
Consumer views on their future personal financial situation rose by four points to -10, with the number of households saying it is a good time to make major purchases rising by one point to -28.
At the same time, the savings intentions sub-index improved by four points to 38 and the current saving capacity increased three points to 21 – its highest level since February 2022.
Meanwhile, questions surrounding the labour market showed a "clear drop in fears", according to INSEE, with unemployment prospects indicator falling seven points to 47 after hitting its highest since April 2021 the previous month. Nevertheless, it still remains well above its long-term average, the survey said.