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Financial News: French Consumer Confidence At 15-Month High

French Consumer Confidence At 15-Month High

06/29/2021 - 04:26:00 (RTTNews)

(RTTNews) - French consumer sentiment strengthened to a 15-month high in June, monthly survey data from the statistical office Insee showed on Tuesday.

The consumer confidence index rose to 102 in June from 98 in May. This was the highest level since March 2020 and was also above economists' forecast of 100.

The survey showed that the share of households considering it is a suitable time to make major purchases rose sharply by ten points to -2, the highest since February 2018.

The households' opinion balance related to their future financial situation rose six points to a four-year high of +2, while the index measuring the personal past financial situation gained only two points.

Assessment of current saving capacity weakened slightly in June but their expectations improved somewhat. The index related to their current saving capacity slid one point to 28 and the future saving capacity climbed two points to 16, which was a new historical high.

The share of households considering it is a suitable time to save dropped in June. The corresponding indicator lost four points to reach 36.

Households' view about the future standard of living and past standard of living strengthened in June. The indicator for future standard of living advanced to -16, the highest since late 2017, from -24 in May.The gauge for the past standard of living in France improved three points to -67 in June.

In June, households considering that prices will be on the rise over the next twelve months remained lower than in May. The corresponding balance dropped two points to reach -17.

Further, households' fears about unemployment trend fell sharply in June. The corresponding balance decreased by 19 points to 25, its lowest level since the start of the health crisis.

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