2023.03.2911:53:00UTC+00French Consumer Confidence At 6-Month Low

French consumer confidence deteriorated to a six-month low in March on weak assessment about past and future standard of living, survey results from the statistical office Insee showed Wednesday.

The consumer sentiment index fell slightly to 81 in March, as expected, from 82 in February. But this was the lowest score since September.

Households' assessment about their past and future financial situation remained unchanged in March. The index for past financial situation stood at -31 and that for expected financial situation at -23.

The major purchases intentions index also held steady in March, at -40.

The survey showed that households' opinion on their current and future ability to save slightly improved in March, with the indicator improving to 16 and 3 points, respectively.

At the same time, the savings intentions gauge weakened to 33 in March after strengthening in February.

Households were more negative about their past and future standard of living. The index for past standard of living slid to -83 from -80 and the future standard of living index dropped marginally to -65.

Households' fears about the evolution of unemployment reduced in March. The corresponding balance lost seven points to 15.

Further, the share of households assessing that prices strongly increased over the last twelve months continued to increase. The corresponding balance gained two points to 77, its highest level since the mid-seventies.

Households' opinion about future prices was almost unchanged in March. The corresponding balance gained one point to -9.