Financial News: French Consumer Confidence Rises In October

French Consumer Confidence Rises In October

10/27/2023 - 03:40:00 (RTTNews)

(RTTNews) - France's consumer sentiment improved marginally in October, survey results from the statistical office INSEE showed on Friday.

The consumer sentiment index moved up to 84 in October from 83 in September. The reading was forecast to remain unchanged to 83.

Households' assessment of past financial situation rose to -33 in October from -34 in September. Likewise, the expected financial situation index advanced to -15 from -17. Conversely, the balance of opinion regarding the opportunity to make major purchases declined 2 points.

Consumers' assessment about their current ability to save dropped 2 points and the one related to the future ability to save was unchanged at 3 in October.

At -53, the index measuring the future standard of living in France improved from -54 in September. At the same time, the index for the past standard of living held steady at -82.

Further, the survey showed that households' fears about unemployment eased in October. The corresponding balance lost 3 points after a 3-point increase in September.

There was a slight downturn in inflation outlook. The share of households who expect prices to rise over the coming twelve months dropped one point, while the proportion of households who assessed a rise in prices over the past twelve months increased by two points.

The survey was conducted between September 26 and October 18.

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