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Financial News: French Consumer Confidence Improves In December

French Consumer Confidence Improves In December

01/06/2021 - 06:17:00 (RTTNews)

(RTTNews) - French consumer confidence strengthened notably in December, monthly survey results from the statistical office Insee showed Wednesday.

The consumer sentiment index rose more-than-expected to 95 in December from 89 in November. The expected reading was 91.

The households' opinion balance related to their future financial situation increased sharply by nine points to -4. Meanwhile, the opinion balance related to their past financial situation increased only two points to -13.

The index measuring future standard of living improved sharply to -43 after falling in October and November, while the assessment about the past living standard remained unchanged in December.

The share of households considering it is a suitable time to make major purchases increased very sharply, with the indicator climbing fifteen points to -13. The score exceeded its long-term average, for the first time since February 2020.

Further, the survey showed that households' fears about the unemployment trend decreased significantly in December. The corresponding balance lost nine points to 68.

At the same time, households considering that prices will be on the rise over the next twelve months have been significantly less numerous than in November, with the index falling to -29 from -22. The survey was conducted between November 25 and December 15.

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