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Financial News: French Consumer Confidence Rises Slightly In November

French Consumer Confidence Rises Slightly In November

11/25/2022 - 04:10:00 (RTTNews)

(RTTNews) - France's consumer confidence improved slightly in November, in line with expectations, survey figures from the statistical office Insee showed on Friday.

The consumer confidence index rose to 83.0 in November from 82.0 in the previous month. However, the index was well below its long-term average of 100.

The index measuring households' financial situation in the next twelve months improved to -21 in November from -23 in October. Similarly, the measure for their own past financial situation increased somewhat, with the index rising to -27 from -29.

Consumers' views regarding the future saving capacity improved in November, as the respective index gained by 5 points to +1 from -4 in October, and the index for the current saving capacity rose to 16 from 13.

The index measuring households' fears about the trend in unemployment in the next 12 months increased further to 28 from 24.

Households' pessimism regarding their ability to make major purchases in the next 12 months remained virtually stable in November, as the corresponding index fell marginally to -38 from -37 in October.

The share of survey respondents who believe that prices will accelerate over the coming year decreased in November. The relevant index lost 3 points to -4 from -1.

Recent official data showed that France's consumer price inflation rose to a record high of 6.2 percent in October from 5.6 percent in September.

The Bank of France expects inflation to come in at 5.8 percent on average this year and in a range between 4.2 percent and 6.9 percent in 2023.

Over the next twelve months, a significant number of households believe the standard of living will improve in France. The corresponding index strengthened to -60 from -64.

Meanwhile, the index measuring the standard of living in the past twelve months held steady for the second straight month at -79 in November.

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