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Consumer Sentiment Inches Up as Financial Outlooks Begin to Improve

FRANCE DATA
MNI (London)

FRANCE NOV CONSUMER SENTIMENT 83 (= FSCT); OCT 82

  • French consumer confidence edged up a further point in November to 83, following the September low. The indicator remains pessimistic and below the long-run average of 100.
  • Future financial situations and expected living standards increased, as 12-month inflation expectations eased. French CPI should soon peak after resurging to a fresh 1985 high of +6.2% y/y in October.
  • Unemployment fears rose further in the November sentiment report, yet remain below average.
  • Banque de France's September macroeconomic projections anticipate the economic slowdown to generate a lagged yet moderate weakening of the labour market from the beginning of 2023, with unemployment to tick up to a relatively low 8% in 2024 (latest reading 7.3% in Q3 2022).

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FRANCE NOV CONSUMER SENTIMENT 83 (= FSCT); OCT 82

  • French consumer confidence edged up a further point in November to 83, following the September low. The indicator remains pessimistic and below the long-run average of 100.
  • Future financial situations and expected living standards increased, as 12-month inflation expectations eased. French CPI should soon peak after resurging to a fresh 1985 high of +6.2% y/y in October.
  • Unemployment fears rose further in the November sentiment report, yet remain below average.
  • Banque de France's September macroeconomic projections anticipate the economic slowdown to generate a lagged yet moderate weakening of the labour market from the beginning of 2023, with unemployment to tick up to a relatively low 8% in 2024 (latest reading 7.3% in Q3 2022).