France Consumer Confidence July 2020

France

France: Consumer confidence remains in negative territory in July

July 29, 2020

Consumer confidence index fell to 94 in July from June's 96, according to the Statistical Institute (INSEE). Consequently, the index remained below the 100-threshold—its long-term average.

In July, households’ perception of their past standard of living as well as of their past personal financial situation deteriorated. Moreover, their appraisal of their current saving capacity soured while households also grew more concerned over prices in the coming year and more pessimistic towards buying big-ticket items in the year ahead. Meanwhile, although consumers’ worries about unemployment decreased from the previous month, they still remained well above the long-term average.

FocusEconomics Consensus Forecast panelists expect private consumption to fall 6.5% in 2020, which is unchanged from last month’s forecast. The panel expects private consumption to increase 4.4% in 2021.


Author:, Economist

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