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France Consumer Sentiment A Touch Above Consensus

FRANCE DATA
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France Consumer Sentiment was marginally higher than expected printing at 91 in July (vs 90 consensus, 90 revised prior from 89), making it the highest level since March 2024, but it continues to remain in the range of 88-91 since November 2023.

  • From the sub-components, there was a slight rise in both unemployment expectations in the next 12 months to 28 (the highest since August 2021) as well as Financial situation expectations in the next 12 months to -10 (the highest since December 2023). This was followed by a 2 point increase in consumer price expectations in the next 12 months, as well as financial situation in the last 12 months and expected saving capacity.
  • Meanwhile, the savings intentions in the next 12 months sub component fell 3 points to 35 - returning to the April 2024 level.
  • This general stability in France Consumer Sentiment comes amidst a downturn in Manufacturing Sentiment which can be seen in the chart below.
  • The survey was conducted with around 2,000 households between June 25 to July 18.
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France Consumer Sentiment was marginally higher than expected printing at 91 in July (vs 90 consensus, 90 revised prior from 89), making it the highest level since March 2024, but it continues to remain in the range of 88-91 since November 2023.

  • From the sub-components, there was a slight rise in both unemployment expectations in the next 12 months to 28 (the highest since August 2021) as well as Financial situation expectations in the next 12 months to -10 (the highest since December 2023). This was followed by a 2 point increase in consumer price expectations in the next 12 months, as well as financial situation in the last 12 months and expected saving capacity.
  • Meanwhile, the savings intentions in the next 12 months sub component fell 3 points to 35 - returning to the April 2024 level.
  • This general stability in France Consumer Sentiment comes amidst a downturn in Manufacturing Sentiment which can be seen in the chart below.
  • The survey was conducted with around 2,000 households between June 25 to July 18.