Financial News: French Consumer Confidence Deteriorates In November

French Consumer Confidence Deteriorates In November

(RTTNews) - French consumer confidence weakened in November after improving in October, survey data from the statistical office INSEE showed Tuesday.

The consumer sentiment index dropped marginally to 89 in November from 90 in October. Moreover, the score continued to remain below its long-term average of 100. Assessment about personal financial situation, both past and future remained virtually stable. The corresponding balances of opinion lost one point each to -21 and -12, respectively.

The proportion of households believing it is a good time, in the current economic situation, to make major purchases remained almost stable. The index posted -30 compared to -29 in October.

Households' opinion on their current and future ability to save deteriorated slightly as both indices dropped by two points each to 21 and 17, respectively.

Further, the survey showed that assessment about 'good time to save' increased slightly once again. The corresponding indicator gained one point to 45, reaching a new historic maximum.

Opinion about the past standard of living in France weakened in November. The index declined to -74 from -72. Meanwhile, the one related to future standard of living edged up one point to -55.

In November, households' fears regarding the evolution of unemployment were virtually unchanged. The corresponding balance lost one point to 47.

The proportion of households who consider that prices will accelerate over the next twelve months was stable.

The proportion of households who consider that prices have increased over the past twelve months dropped one point to -9 and that for future inflation was unchanged at -32.

The survey data was collected between October 27 and November 17.

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