French consumer confidence shows no early signs of being dented by the Paris Attacks
One of the earliest indicators of French consumer confidence in the wake of the Paris attacks held steady in November.
The household confidence index was unchanged at a score of 96, according to figures released this morning by Insee, the French statistical office.
However, only seven per cent of the data was collected after the Paris attacks, with economists saying that December’s figure will be a better indicator.
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Insee’s consumer confidence index has been in steady recovery mode since early 2014, but remains velow its long-term average of 100. Paris makes up roughly a quarter of the French economy, and is highly geared toward the service sector and tourism.
The survey data revealed a strong improvement in employment confidence.
“Consumers’ confidence has been improving substantially since the beginning of the year, with the general index up by more than 6 points since January,” said economist Clemente De Lucia from investment bank BNP Paribas.
“A note of caution, however, is needed, as the data have been collected largely before the terrorist attack. December, therefore, could be another story.”