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Financial News: French Consumer Confidence Weakens In October

French Consumer Confidence Weakens In October

10/27/2021 - 05:55:00 (RTTNews)

(RTTNews) - French consumer confidence weakened in October, monthly survey results from the statistical office Insee showed on Wednesday.

The consumer confidence index fell to 99 in October from 101 in September. The reading was forecast to fall to 101 from September's initially estimated value of 102.

Households' opinion about their future financial situation weakened with the index falling four points to -7. At the same time, the index related to their personal past financial situation dropped only one point to -15.

The share of households considering it is a suitable time to make major purchases decreased again with the balance at -13 versus -11 in the previous month.

The survey showed a marked fall in households' assessment about future saving capacity. The corresponding indicator lost nine points to +3. At 22, their current saving capacity assessment fell only three points.

In October, the share of households considering that the standard of living in France will improve in the next twelve months decreased. Similarly, the indicator measuring the past standard of living fell to -59 from -55.

The households' fears about unemployment trend continued to fall sharply with the index easing to 4 from 12.

Further, the survey showed that the share of households considering that prices were on the rise during the past twelve months has been up very sharply. The corresponding balance gained 17 points to +14.

Likewise, the households considering that prices will be on the rise during the next twelve months have also been more numerous. The corresponding balance gained 11 points.

The survey was conducted among 2,000 households between September 27 and 18.

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