Financial News: France Consumer Confidence Weakens To 90

France Consumer Confidence Weakens To 90

04/26/2024 - 04:05:00 (RTTNews)

(RTTNews) - France's consumer confidence unexpectedly decreased in April, monthly survey data from the statistical office INSEE showed on Friday.

The consumer sentiment index dropped to 90 in April from 91 in the previous month. Meanwhile, economists had expected the score to rise to 92.

Further, the index remained well below its long-term average of 100.

The index measuring consumers' outlook regarding their financial situation worsened to -12 in April from -9 a month ago. Meanwhile, the sub-index for the past financial situation of households rose somewhat to -26 from -27.

The proportion of households believing it is a good time to make major purchases showed a slight resilience in April. The corresponding index increased by one point to -33.

Consumers were more pessimistic about the future general economic situation. The corresponding index declined to -48 from -42, while the indicator for the past financial situation came in at -73 compared to -75 in the previous month.

Households' opinion regarding their future savings capacity strengthened in April as the relevant index climbed from 7 to 12.

Consumers' fears about unemployment decreased as the corresponding balance dropped to 21 in April from 22.

The share of households that believe that prices will increase over the coming twelve months declined to -51 from -50. The measure for past consumer prices decreased to 36 from 44.

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