According to the report from INSEE, in August, the consumer confidence indicator rose to 92 points, as expected, from 91 points in July. The latest reading was the highest since February 2022. But despite the growth in August, the index remains well below its long-term average (100 points).
INSEE said that the index, which evaluates the opinion of households about their future financial situation, rose by 1 point to -9 points. The index reflecting the opinion of households regarding their past financial situation fell by 1 point, to -23 points. The balance of opinion regarding the opportunity to make major purchases rose by 1 point to -31 points. Meanwhile, the index assessing the opinion of households regarding their current ability to save fell by 2 points, to 16 points. The balance of opinion regarding their ability to save in the future remained unchanged (9 points).
The data also showed that the households' opinion on standard of living in France, both past and future, has improved significantly. The balance of opinion corresponding to past trends has risen by 4 points, to -68 points, and the one corresponding to future trends has risen by 5 points, to -45 points. However, both balances remain well below their long-term averages.