Financial News: French Consumer Confidence Weakens To 90

French Consumer Confidence Weakens To 90

11/27/2024 - 04:05:00 (RTTNews)

(RTTNews) - France's consumer confidence worsened further in November to the lowest level in five months, monthly survey data from the statistical office INSEE showed on Wednesday.

The consumer sentiment index dropped to 90 in November from 93 in the previous month. Further, the index remained well below its long-term average of 100.

The index measuring consumers' outlook regarding their financial situation worsened to -13.0 in November from -8.0 a month ago. The sub-index for the past financial situation of households weakened somewhat to -23 from -22.

The proportion of households believing it is a good time to make major purchases showed a slight decline, with the corresponding index falling to -30 from -29.

Consumers were more pessimistic about the future general economic situation in the country. The corresponding index worsened to -51 from -43, and the indicator for the past financial situation also dropped to -69 from -67 in the previous month.

Households' opinion regarding their future savings capacity remained positive but eased in November as the relevant index decreased from 13 to 11.

Consumers' fears about unemployment increased notably as the corresponding balance climbed to 42 in November from 33.

The share of households that believe that prices will increase over the coming twelve months increased further in November.

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