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FRANCE DATA: France Consumer Sentiment Slightly Exceeds Expectations

FRANCE DATA
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France Consumer Sentiment slightly exceeded expectations printing at 95 in September (vs 92 consensus and 93 revised prior), at the highest level since February 2022. However, it remains a little below the long run average (from January 1987 to December 2023) of 100.

  • From the sub-components, both general economic situation and financial situation in the next 12 months improved, to -38 (from -44) and -6 (from -9) respectively, making both components the highest since February 2022.
  • Meanwhile, consumer prices in the next 12 months remained unchanged at -53.
  • This gradual improvement in French consumer sentiment comes amidst a stall in manufacturing sentiment and decline in services sentiment which can be seen in the chart below.
  • Monday's flash PMI data showed France manufacturing output falling to an eight-month low but the overall manufacturing index was broadly unchanged while the Services PMI fell almost seven points.
  • The survey was conducted with around 2,000 households between August 27 to September 17. Note that this period was before the new French government was formed.
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France Consumer Sentiment slightly exceeded expectations printing at 95 in September (vs 92 consensus and 93 revised prior), at the highest level since February 2022. However, it remains a little below the long run average (from January 1987 to December 2023) of 100.

  • From the sub-components, both general economic situation and financial situation in the next 12 months improved, to -38 (from -44) and -6 (from -9) respectively, making both components the highest since February 2022.
  • Meanwhile, consumer prices in the next 12 months remained unchanged at -53.
  • This gradual improvement in French consumer sentiment comes amidst a stall in manufacturing sentiment and decline in services sentiment which can be seen in the chart below.
  • Monday's flash PMI data showed France manufacturing output falling to an eight-month low but the overall manufacturing index was broadly unchanged while the Services PMI fell almost seven points.
  • The survey was conducted with around 2,000 households between August 27 to September 17. Note that this period was before the new French government was formed.