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Financial News: French Consumer Confidence Weakest Since Late 2018

French Consumer Confidence Weakest Since Late 2018

04/27/2022 - 09:33:00 (RTTNews)

(RTTNews) - French consumer confidence declined to the lowest since late 2018, monthly survey results from the statistical office Insee showed on Wednesday.

The consumer sentiment index unexpectedly fell to 88 in April from 90 in March. The reading was expected to advance to 92.

The score remained well below its long-term average and hit the lowest reading since December 2018.

There was a sharp decline in the opportunity to make major purchases in April, while the assessment regarding future savings capacity as well as opportunity to save increased slightly.

Consumers' view about future standard of living logged a slight rebound after a sharp fall in March, while their assessment about the past living standard dropped markedly in April.

Households' balance of opinion regarding their past financial situation dropped moderately from March. By contrast, their assessment about future personal financial situation improved in April.

The survey showed that households' fears about unemployment have barely risen, the survey showed.

The share of households who consider that prices have risen over the past twelve months increased significantly. Meanwhile, the share of survey respondents who believe that prices will accelerate over the coming year logged a noticeable decline.

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