August 31, 2023
According to survey findings from the statistical agency INSEE, consumer sentiment in France remained unchanged in August for the second consecutive month as consumers’ expectations for their future financial status and level of living declined and their concerns about unemployment rose.
Since June, the consumer confidence index has been stable at 85. The results were as predicted by economists.
The score stayed well below the 100 that was logged from January 1987 and December 2022, which was the score’s long-term average.
The study revealed a constant belief among households that this was a favorable time to make significant purchases.
Their perception of their ability to save money at the moment improved, but they had less faith in their ability to do so in the future.
The INSEE survey also revealed that households’ concerns about unemployment in France grew in August, and a greater percentage of households anticipated price increases over the following 12 months.
Additionally, earlier on Tuesday, survey data from the market research firm GfK revealed that consumer confidence in Germany is likely to decline in September as household income and economic expectations declined, supporting the idea that private consumption is unlikely to have any positive effects on GDP this year.
Source: RTT NEWS
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