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Financial News: French Consumer Confidence Remains Stable In August

French Consumer Confidence Remains Stable In August

08/26/2020 - 03:02:00 (RTTNews)

(RTTNews) - French consumer confidence remained stable in August, survey data from the statistical office Insee showed Wednesday.

The consumer sentiment index held steady at 94.0 in August. The score came in line with expectations.

Households' opinion balance on their past financial situation gained 1 point to -14, while that related to their future financial situation was unchanged at -8.

Consumers' view on their expected saving capacity weakened in August, with the index falling 4 points to 5. Similarly, households' balance of opinion on their current saving capacity dropped 2 points to 22.

After a sharp rebound related to the end of the containment, the index for major purchase intentions slid to -19 from -15.

Households' opinion about the past standard of living rose in August, while their view about the future weakened in August. The index for past living standard came in at -64 versus -66 in July and that for future standard of living remained at -53.

Households' fears about the unemployment trend weakened in August, but remained at a high level. The corresponding index declined to 70 from 76 a month ago.

Households considering that prices will be on the rise during the next twelve months have been less numerous than the previous month, with the index dropping to -25 in August.

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