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Financial News: French Consumer Confidence Lowest Since Aug 2016

French Consumer Confidence Lowest Since Aug 2016

06/27/2018 - 03:34:00 (RTTNews)

(RTTNews) - France's consumer sentiment weakened in June to the lowest level in nearly a year, survey results from the statistical office Insee showed Wednesday.

The consumer confidence index dropped to 97 in June from 99 in May, which was revised down from 100. Meanwhile, the index was expected to remain stable at 100.

Moreover, this was the weakest score since August 2016, when it marked the same 97.

Households' opinion on their past personal situation worsened slightly in June, while their expected financial situation remained stable.

The indicator for current saving capacity rose to 11 from 10. At the same time, the balance for expected saving capacity declined to -9 from -3.

Consumers' opinion on both past and future standard of living weakened in June. The index for future standard of living dropped 5 points to -32. Similarly, the gauge for past standard of living slid 4 points to -44.

Households' fears about the unemployment trend have increased massively in June. The corresponding index climbed from 0 to 18, the highest level since May 2017.

Households were almost as numerous as in May to expect prices to increase during the next twelve months, with the respective index falling fractionally to -20 from -19.

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