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Financial News: French Consumer Confidence Strongest Since Early 2018

French Consumer Confidence Strongest Since Early 2018

09/25/2019 - 03:13:00 (RTTNews)

(RTTNews) - France's consumer confidence strengthened to the highest level in 20 months in September, survey data from the statistical office Insee showed Wednesday.

The consumer sentiment index rose to 104 in September from revised 103 in August. This was the highest level since January 2018. The expected reading was 103.

Confidence has improved over the last nine consecutive months and remained above its long-term average of 100.

Households' opinion balance on their future financial situation increased for the third consecutive month in September, to -2. Meanwhile, the opinion balance about their past financial situation held steady at -18.

Furthermore, the share of households considering it was suitable time to make major purchases increased slightly to -7 from -8.

In September, the share of households considering that the past standard of living in France improved as the corresponding balance gained 3 points to -40.

On the other hand, the index for future standard of living remained unchanged at -22. Households' fears about the unemployment trend diminished again in September.

Households considering that prices will be on the rise over the coming year have been less numerous than the previous month, the survey showed.

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