French consumer confidence falls to 94 in March: INSEE

[PARIS] French consumer confidence unexpectedly fell in March to 94 from 95 in February, hitting the lowest level since August 2015 and drifting further away from its long-term average of 100, the official INSEE statistics agency said on Friday.

A Reuters poll of 20 economists had expected it on average to pick up to 96. The highest forecast was 97 and the lowest was 94.

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