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French Consumer Confidence Unchanged On July Levels

FRANCE DATA
MNI (London)
Consumer Confidence Indicator: 94; Prev (Jul): 94
  • Household sentiment remained at Jul's level of 94 in Aug, beating expectations pencilling in a decline to 92.
  • Consumer's assessment of their current and future financial situation was unchanged, while the share of households who think the standard of living has increased in the past 12 months has risen 2pt
  • The fear of unemployment eased by 7pt, however the indicator remains elevated at 70 compared to Feb's reading of -3
  • Households savings intentions rose for the fourth consecutive months in Aug, up 1pt to 24, while the current savings capacity fell 1pt to 22
  • The share of consumers who believe it is a good time to make major purchases fell again, decreasing 4pt to -19
  • Aug's increase in savings intentions and decline in the major purchases index, together with a heightened fear of unemployment, suggests that consumers remain cautious in this uncertain environment.
  • Household confidence remains below the long-term average since Mar and currently rising Covid-19 cases pose a downside risk going forward.
MNI London Bureau | +44 203-865-3814 | irene.prihoda@marketnews.com
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