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French Consumer Confidence Falls To Lowest Level In Nearly Two Years

Published on Jun 27 2018 9:29 AM in Retail tagged: France / Consumer Confidence / INSEE

French Consumer Confidence Falls To Lowest Level In Nearly Two Years

French consumers felt at their least confident this month in nearly two years, the country's official INSEE statistics agency said on Wednesday, citing concerns among consumers over inflation and personal finances.

The findings add to signs of slowing momentum in France, the euro zone's second-biggest economy, after a general pick-up in the French economy following the election of President Emmanuel Macron last year.

Confidence Down

INSEE's official measure of consumer confidence for June came in at 97 points, down from 99 points in May, and below forecasts. A Reuters poll of 19 economists had predicted 100 points for the June consumer confidence level.

INSEE said the June consumer confidence figure marked its lowest level since August 2016.

Earlier this month, INSEE forecast slower French economic growth for this year in the face of a stronger euro, higher oil prices and uncertainty about protectionism.

News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.

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