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Consumer confidence in France came in line with market expectations during the month of October, following improvement in the outlook of households’ personal financial situation in the next twelve months. However, their view on past financial conditions remained stable in October.
France’s consumer sentiment index rose to 98 in October from 97 in September. A similar higher reading was last seen in May and reached the highest level since October 2007, when the score was 100, data released by the country’s statistical office INSEE showed Wednesday.
The indicator for future situation rose to -7, the highest since December 2015, while that for past financial situation held steady at -23. The expected saving capacity index also remained unchanged at -7. Meanwhile, the index for saving intentions dropped to -2.
Consumers were more optimistic about their future standard of living. The corresponding index rose to -29 from -31. Likewise, the index for the past standard of living standard gained one point to -53.
After a slight drop in September, households' fears about unemployment surged sharply in October. The corresponding balance increased by 10 points. Further, households were less numerous to consider that prices are likely to increase during the next 12 months.
Meanwhile, a sub-index tracking households’ spending intentions gained 1 point in October and now stands above its long-term average, reports from INSEE added.
