French Consumer Confidence Rises In June

(RTTNews) - French consumer confidence improved in June after falling to a more than three-year low in the previous month, survey data from the statistical office INSEE showed Thursday.

The consumer sentiment index rose to 84.0 in June from 82 in May, which was the lowest since March 2023. The reading was expected to rise to 83.0. Nonetheless, the index remained well below the long-term average of 100.

The survey showed that the synthetic indicator of the saving climate dropped to 119 from 121, though it remained well above its average. Purchasing intentions rose slightly, and the index measuring important purchases improved slightly to -38 from -39.

The outlook regarding households' financial situation improved in June, with the corresponding index rising to -16 from -19 in May. The index for past financial situations rose slightly to -28 from -29.

At the same time, assessment about their future ability to save remained stable, while the index measuring current savings capacity eased to 16 from 18.

Consumers' views about the past standard of living in France deteriorated slightly in June with the corresponding balance falling to -81. The one related to future standard of living improved to -65. Households' fears about unemployment intensified, and the corresponding balance increased five points to 60.

Finally, the survey revealed that the proportion of households who consider that prices will accelerate over the next twelve months declined further. The associated balance lost 15 points and reached -15.