French consumer confidence falls in February

Fears of an impending war on Iraq drove consumer confidence in France down to a five-year low last month.

Fears of an impending war on Iraq drove consumer confidence in France down to a five-year low last month.

A composite indicator of consumer confidence fell to -26 in February from -22 in January, according to a monthly survey carried out by statistics office Insee.

The indicator represents the balance in percentage points between consumers having experienced, or expecting, a rise in their living standard and those seeing a decline.

The decline pulled the index down to its lowest levels in over five years - and below a consensus analyst forecast of -22 for February.

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The Insee indicator showing the inclination to buy consumer goods was -17 on the month against -10 in January.

The outlook for the French standard of living stood at -41 versus -30 the previous month.

AFP