French Consumer Confidence Remains Sluggish In June

(RTTNews) - France's consumer confidence held steady in June and remained well below its long-term average, monthly survey data from the statistical office INSEE showed on Wednesday.

The consumer sentiment index stood at 88.0 in June, the same as in May. Meanwhile, economists had expected the score to rise to 89.0.

Further, the index remained well below its long-term average of 100.

The index measuring consumers' outlook regarding their financial situation remained stable at -14.0. Meanwhile, the sub-index for the past financial situation of households rose somewhat to -24 from -25.

The proportion of households believing it is a good time to make major purchases stayed negative, and the corresponding index also remained unchanged at -27.

Consumers were slightly more pessimistic about the future general economic situation. The corresponding index weakened to -60 from -59, while the indicator for the past financial situation remained stable at -69.

Households' opinion regarding their future savings capacity improved in June as the relevant index increased from 10 to 12.

Consumers' fears about unemployment decreased as the corresponding balance dropped to 59 in June from 61.

The share of households that believe that prices will increase over the coming twelve months held steady at -38.