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Financial News: French Consumer Confidence Improves In March

French Consumer Confidence Improves In March

03/27/2024 - 05:02:00 (RTTNews)

(RTTNews) - France's consumer confidence unexpectedly improved slightly in March, monthly survey data from the statistical office INSEE showed on Wednesday.

The consumer sentiment index rose to 91 from 90 in the previous month. Meanwhile, economists had expected the score to remain stable at 90.

Nonetheless, the index was still remained below its long-term average of 100.

The index measuring consumers' outlook regarding their financial situation rose to -8 in March from -11 a month ago. Data showed that the past financial situation of households has increased somewhat since February, with the index rising to -27 from -28.

The proportion of households believing it is a good time to make major purchases showed some resilience in March. The corresponding index increased six points to -34.

Households' were slightly less pessimistic about the general economic situation. The corresponding index rose to -41 from -42, and the indicator for the past financial situation came in at -75 compared to -77 in the previous month.

Households' opinion regarding their future savings capacity improved in March, as the relevant index climbed from 4 to 7.

Consumers' fears about unemployment decreased as the corresponding balance dropped four points to 22 in March.

The share of households that believe that prices will increase over the coming twelve months declined to -50 from -48. The measure for past consumer prices also fell to 45 from 51.

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