PARIS (Reuters) - French consumer confidence levels increased slightly in October from the previous month when it had fallen to its lowest level since April 2016, according to data from the official INSEE statistics agency.
INSEE said its October consumer confidence level had come in at 95 points, up from 94 points in September which had marked the lowest reading since April 2016. A Reuters poll of 13 economists had given an average forecast of 94 points for the October consumer confidence level. FRCONC=ECI
Concerns over an increase in inflation, with oil prices rising, have impacted consumer spending, while Italy’s economic and political turmoil also risks impacting the euro zone.
Earlier this month, INSEE trimmed its 2018 economic growth forecast for France to 1.6 percent from 1.7 percent, although INSEE said growth could still reach 1.7 percent if tax cuts this year led to an increase in household spending.
Reporting by Sudip Kar-Gupta; Editing by Mathieu Rosemain