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Financial News: French Consumer Confidence Rises To 3-Month High

French Consumer Confidence Rises To 3-Month High

06/26/2020 - 03:05:00 (RTTNews)

(RTTNews) - French consumer confidence improved to a three-month high in June as coronavirus containment measures were relaxed, survey data from the statistical office Insee showed Friday.

The consumer sentiment index advanced to 97 in June from 93 in May. Although the score was above economists' forecast of 95, the reading was below its long-term average of 100.

The share of households considering it is a suitable time to make major purchases increased sharply with the corresponding balance gaining 31 points to -14 in June.

Consumers' assessment of future financial situation increased significantly by 12 points to -8. At the same time, the balance related to their past financial situation lost 2 points to -12 in June.

The assessment of future standard of living increased sharply to -52. At the same time, the index measuring the past standard of living in France improved to -56 from -49.

Households' fears about the unemployment trend have increased slightly in June. The corresponding balance climbed 2 points to 78, the highest since June 2013 peak level.

Further, the survey showed that households considering that prices will be on rise during the next twelve months have been markedly less numerous than the previous month. The corresponding balance climbed 17 points to -13 in June. Households considering that prices were on the rise over the past year have also been less numerous than in May. The corresponding balance has lost 2 points to -32.

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