France Consumer Confidence Weakest Since 2016

France Consumer Confidence Weakest Since 2016

France's consumer confidence weakened to the lowest level in more than two years in September, survey results from the statistical office Insee showed Wednesday.

The consumer sentiment index fell to 94 in September from revised 96 in August. This was the lowest since April 2016. The score was forecast to remain unchanged at August's initially estimated value of 97.

Households were less optimistic concerning their future financial situation. The corresponding index dropped to -17 from -12. At the same time, the indicator for past financial situation held steady at -30.

Households opinion about the past standard of living in France declined again. The corresponding balance lost 2 points to reach -48, the lowest level since May 2017. The index measuring future standard of living fell sharply to -36 from -29.

The share of households considering it as suitable time to make major purchases remained virtually stable, with the indicator balance at -7.

Households' fears about the unemployment trend decreased in September. Households were more numerous than the previous month to think that prices will be on the rise during the next twelve months.

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