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Consumer Sentiment Slides Further in June

FRANCE DATA
MNI (London)
  • French consumer confidence weakened for the sixth consecutive month. The indicator fell a further three points to 82 in June, significantly below the long-term average of 100. Sentiment is around seven points lower than seen at the onset of the pandemic.
  • Households saw their future personal financial situations declining further, alongside their propensity to make major purchases and future saving capacities. Inflation expectations climbed further and is at at 2008 high and remain the underlying source of pessimism. The June inflation flash is due on Thursday and is anticipated to jump another 0.5pp to 5.7% y/y, offering no relief to consumer confidence in the coming months..
  • Concerns regarding unemployment increased slightly, albeit remaining very low.
  • This follows the German GfK sentiment reading this morning, which plunged to a historic low on the back of looming recession fears.

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  • French consumer confidence weakened for the sixth consecutive month. The indicator fell a further three points to 82 in June, significantly below the long-term average of 100. Sentiment is around seven points lower than seen at the onset of the pandemic.
  • Households saw their future personal financial situations declining further, alongside their propensity to make major purchases and future saving capacities. Inflation expectations climbed further and is at at 2008 high and remain the underlying source of pessimism. The June inflation flash is due on Thursday and is anticipated to jump another 0.5pp to 5.7% y/y, offering no relief to consumer confidence in the coming months..
  • Concerns regarding unemployment increased slightly, albeit remaining very low.
  • This follows the German GfK sentiment reading this morning, which plunged to a historic low on the back of looming recession fears.