French Consumer Confidence Jumps to Highest Level in 10 Years

By Sam Schechner Features Dow Jones Newswires

French consumer confidence rose more than expected in June, reaching its highest level in a decade, as households increasingly confident about their financial situation said they were more ready to make purchases, statistics showed Tuesday.

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The rising consumer confidence is the latest sign of an improving economy in France, offering a boost for French President Emmanuel Macron less than two months after he came to power promising an overhaul of the country's economic policies.

Consumer confidence in the eurozone's second-largest economy rose five points to 108 in June, the highest level since June 2007, statistics agency Insee said. Insee also restated May consumer confidence, raising it to 103 from 102.

Economists polled by The Wall Street Journal had forecast a one point increase to 103 from the level of 102 provisionally reported in May. The long term average for the indicator is 100.

-Write to Sam Schechner at sam.schechner@wsj.com

(END) Dow Jones Newswires

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June 28, 2017 03:15 ET (07:15 GMT)