French Consumer Confidence Strongest Since Early 2022
28 Agosto 2024 - 2:46AM
RTTF2
French consumer confidence improved in August to the highest
point since the start of the war in Ukraine, survey results
published by the statistical office INSEE showed on Wednesday.
The consumer confidence index rose to 92 in August, in line with
forecast, from 91 in July. This was the highest since February
2022.
Nonetheless, the score remained below its long-term average.
The survey showed that households were less negative about
future and past standard of living. The balance of opinion
corresponding to past trends gained four points to hit -68 and the
one corresponding to future trends rose five points to -45.
The indicator measuring consumers' past financial situation
edged down one point to -23, while the one related to their future
financial situation rose one point to -9. Both remained below their
long-term averages.
The proportion of households believing it is a good time to make
major purchases improved slightly. The corresponding index came in
at -31.
At the same time, the proportion of households believing it is a
good idea to save rebounded with the index rising to 37. However,
assessment about their current ability to save deteriorated
slightly and consumers' view about their future ability to save
remained unchanged from the previous month.
Further, the survey showed that households' fears regarding
unemployment remained stable in July.
Fewer households assessed that prices will accelerate over the
next twelve months. The associated balance dropped six points to
-53, and stayed well below its long-term average.
The proportion of households who consider that prices increased
strongly over the past twelve months decreased for the sixth
consecutive month. The corresponding indicator lost four points in
August.
The survey was conducted among 2,000 households between July 26
and August 19.
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