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Financial News: French Consumer Sentiment Weakens Unexpectedly In July

French Consumer Sentiment Weakens Unexpectedly In July

07/29/2020 - 04:12:00 (RTTNews)

(RTTNews) - French consumer confidence weakened unexpectedly in July after improving last month, survey data from the statistical office Insee showed Wednesday.

The consumer sentiment index fell to 94 in July from 96 in June. The score was forecast to rise to 99.

Households' opinion balance on their past financial situation lost 3 points to -15 in July. Meanwhile, the measure for future financial situation remained stable at -8.

Consumers considering it as a suitable time to save increased for the third consecutive month. The corresponding score came in at 24 versus 26 a month ago.

Further, the index measuring expected saving capacity increased 2 points to 9, while the indicator for current saving capacity dropped 2 points to 24.

Assessment of past standard of living weakened with the index falling sharply to -66 from -57. This was the third consecutive drop. Meanwhile, households' opinion balance about the future standard of living rose slightly to -53 from -54.

Households' fears about the unemployment trend decreased slightly in July. The corresponding reading came in at 76 versus 78 in June.

The survey showed that consumers considering that prices will be on the rise over the next twelve months have been markedly less numerous than the previous month, with the index losing 9 points.

The survey was conducted between June 26 and July 20.

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