July 27, 2022 06:45 GMT
FRANCE JUL CONSUMER CONFIDENCE 80; JUN 82
- French consumer confidence took another hit in July, edging down a further 2 points in the seventh consecutive month of decline to 80 in July.
- This was the lowest reading since Spring 2013 and in line with expectations. The long-term average is 100.
- Future financial situation outlooks fell again, as did the propensity to make major purchases and savings capacity.
- Despite remaining very low, unemployment fears increased slightly again in July.
- On a different note, inflation outlooks eased again in July. This is welcome news after the 0.7pp uptick to +6.5% y/y in the harmonised June print.
- The July prelim inflation report is due on Friday, however price pressures are not yet anticipated to have peaked.