- Consumer confidence 84 vs 83 expected
- Prior 82
There is a slight improvement in French household confidence in June but the estimate continues to sit well below the long-term average of 100.
As an aside, the French statistical office has added a new index into the report – namely the savings climate synthetic index. That is one that measures household savings behaviours and anticipations, combining the two balances of opinion on current and expected saving capacities, together with the opportunity to save. Hence, these elements are now removed from the overall consumer confidence index above.
In short, they are stripped out and exists as a separate index to the household confidence index as per below:
Looking at the other details, a worrying point is that unemployment expectations have continued to nudge higher in June. The estimate here now climbs up to 60 points, being the highest since March 2021.
However, there is at least good news from price developments with the estimate of future inflation dropping back down to -15 on the month. That is lower than the +11 estimate in May but still much higher than the -31 reading seen in February, before the Middle East conflict began.
This article was written by Justin Low at investinglive.com.