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Financial News: French Consumer Confidence Weakens In October

French Consumer Confidence Weakens In October

10/28/2020 - 05:51:00 (RTTNews)

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

The consumer confidence index dropped to 94.0 from 95.0 in the previous month. The indicator continued to stay below the long-term average of 100.0.

Consumers were less optimistic concerning their future financial situation as the index slid three points to -8. On the other hand, the balance of opinions about their past financial situation remained unchanged at -15 in October.

Furthermore, the indicator measuring consumers' assessment regarding suitable time to make major purchases held steady at -18.

The share of households considering that the standard of living in France will improve in the next twelve months decreased to -54 from -47 a month ago. Meanwhile, the index measuring the past standard of living remained at -65.

Households' fears about the unemployment trend have increased slightly in October. The corresponding balance gained two points to 73.

At the same time, households considering that prices will be on the rise during the next twelve months have been unchanged at a level very close to its long-term average, the survey showed.

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