Financial News: French Consumer Confidence Falls Slightly To 94

French Consumer Confidence Falls Slightly To 94

10/25/2024 - 04:10:00 (RTTNews)

(RTTNews) - France's consumer confidence decreased for the first time in six months in October, though marginally, monthly survey data from the statistical office INSEE showed on Friday.

The consumer sentiment index dropped to 94 in October from 95 in the previous month. That was in line with expectations. Further, the index remained well below its long-term average of 100.

The index measuring consumers' outlook regarding their financial situation worsened to -7 in October from -6 a month ago. Similarly, the sub-index for the past financial situation of households weakened somewhat to -22 from -21.

The proportion of households believing it is a good time to make major purchases showed a stagnation, and the corresponding index stood at -29.0.

Consumers were more pessimistic about the future general economic situation in the country. The corresponding index declined to -41 from -38, and the indicator for the past financial situation also worsened to -67 from -65 in the previous month.

Households' opinion regarding their future savings capacity remained positive but eased in October as the relevant index decreased from 15 to 13.

Consumers' fears about unemployment increased as the corresponding balance climbed to 31 in October from 26.

The share of households that believe that prices will increase over the coming twelve months rebounded slightly to -49 from -53.

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