French consumer confidence strengthened in September to the highest level in almost eight years, figures from the statistical office INSEE showed Friday.
The consumer confidence index rose to 97 in September from 94 in the previous month, which was revised up from 93. Economists had forecast the same score of 94.0 for the month.
The latest reading was the highest since October 2007. However, it remained below its long-term average of 100, the agency said.
Households’ assessment of their own financial situation in the past twelve months improved in September. The corresponding index increased to -26 from -28 in the prior month.
Their view on the future financial situation also strengthened in September, with the index rising to -8 from -11 in August.
The index measuring consumers’ view on their current saving capacity climbed to 12 in September from 7 in the preceding month. The measure of future savings capacity rose notably to -2 from -11.
Concerns that unemployment will rise in coming months grew for the second straight month in September, with the index falling by 6 points to 45 from 51 in August.
The index for future inflation expectations showed a easing trend in September. The respective index dropped to -41 from -37.
The material has been provided by InstaForex Company – www.instaforex.com