France: Consumer confidence slips in February
Consumer confidence fell to 98.0 in February from January’s 99.0. As a result, the index remained below the 100-threshold, separating pessimism from optimism among consumers.
February’s lower reading was again driven by more pronounced pessimism over households’ assessment of their standard of living in the past and coming 12 months. Moreover, sentiment over households’ assessment of their financial situation in the past year similarly deteriorated markedly, while concerns of inflation in recent months also increased.
On a positive note, consumers were more likely to make big-ticket purchases in the coming year, as pessimism over households’ assessment of their financial situation in the coming 12 months somewhat improved. Lastly, concerns over inflation in the coming 12 months improved, although February’s result does not take into account the impact from the recent outbreak of war in Ukraine.