French consumer confidence drops to 95 in February: INSEE

[PARIS] French consumer confidence fell to 95 in February from 97 in January over renewed concerns about unemployment and lower expectations in terms of standard of living, the official INSEE statistics agency said on Wednesday.

The average estimate in a Reuters poll of economists was 97.

The index, which is not closely correlated to consumer spending trends, hit an all-time low in May and June 2013 of 79. The highest level since the survey was conducted on a monthly basis was 125 in January 2001.

REUTERS