French July consumer confidence highest in 1-1/2 years

Madiha Shakeel July 26, 2019

PARIS: French consumer confidence rose in July for the seventh consecutive month to reach its highest level in a year and half,  a monthly survey showed on Friday.

The INSEE official statistics office said its household consumer confidence index rose to 102 points from 101 in June.

That slightly topped economists’ forecasts on average for a stable reading of 101 in a Reuters poll and was the highest reading since January 2018.

Consumers’ concerns about price increases eased amid low inflation while concerns about unemployment were the lowest since February, with France’s jobless total at a five year low.

The number of consumers considering it to be a good time to splurge on big-ticket items also improved to its highest level since May 2018.

Separately, INSEE said French producer prices fell 0.5% in June, giving an increase of only 0.2% over one year.

Copyright Reuters, 2019

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