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Financial News: French Consumer Confidence Improves In January

French Consumer Confidence Improves In January

01/26/2024 - 04:50:00 (RTTNews)

(RTTNews) - France's consumer confidence improved more-than-expected at the start of the year, survey data from the statistical office INSEE showed on Friday.

The consumer sentiment index rose to 91.0 in January from 89.0 in the previous month. The reading was seen at 90.0.

All components of the consumer confidence index either strengthened or remained steady in January, except past and future inflation indicators.

The balance of opinion on households' expected financial situation gained two points, approaching its long-term average and the index measuring the past financial situation rose only one point.

Households' view about the opportunity to save rose two points with the index hitting 40 and also the score moved away from its historical average. Further, the index measuring the current ability to save remained unchanged at 14. Likewise, the expected saving capacity index held steady at 7.

Households were less pessimistic about the standard of living in France. The indicator for future standard of living climbed to -38 from -44. Similarly, the index measuring past standard of living posted -76, up from -78 a month ago.

The major purchase intentions index advanced notably to -35 from -40.

Households' fears about unemployment eased in January. The corresponding balance dropped 4 points to 21.

The proportion of households who believe that consumer prices will accelerate over the coming year dropped in January. At -55, the balance of opinion on future inflation was down 5 points.

The proportion of households who viewed that consumer prices increased sharply over the past twelve months dropped slightly. The associated balance came in at 52 compared to 54 a month ago.

The survey was conducted among 2,000 households between January 2 and January 18.

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