French Consumer Confidence Falls More Than Forecast

french-consumer-confidence-falls-more-than-forecast

French consumer confidence weakened more-than-expected in September and fell back to July’s 9-year low after rebounding slightly in August, monthly survey results from the statistical office Insee showed on Wednesday.

The consumer confidence index fell to 79.0 in September from 82.0 in August. Economists had forecast the index to fall to 80.0.

The latest reading was the weakest since June 2013, when it was also 79.0.

The index measuring households’ financial situation in the next twelve months worsened to -28 in September from -22 in August. However, their own past financial situation improved slightly, with the index rising to -32 from -33.

Consumers’ views regarding future saving capacity weakened in September. The corresponding index fell to -5 from -2 in August.

The index measuring households’ fears about the trend in unemployment rose sharply to 23 in September from 12 in the previous month.

Households’ assessment of their ability to make major purchases decreased somewhat in September, as the respective index stood at -38 versus -37 in August.

The share of survey respondents who believe that prices will accelerate over the coming year rebounded in September. The respective index gained by 11 points to +1 in September from -9 in August.

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