According to the report from INSEE, in January, the consumer confidence indicator rose to 92 points from 89 points in December. Economists had expected an increase to 90 points. The latest reading was the highest since October. However, the index remains 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 4 points to -10 points. The index reflecting the opinion of households regarding their past financial situation improved by 1 point to -22 points. The balance of opinion regarding the opportunity to make major purchases increased by 1 point to -28 points. Meanwhile, the index assessing the opinion of households regarding their current ability to save rose by 3 points, to 21 points. The balance of opinion related to their future ability to save remained unchanged (12 points).
The data also showed that the households' opinion on future standard of living in France has recovered sharply: the associated balance of opinion has gained 11 points. The one related to past standard of living has gained 1 point. Both balances remain well below their long-term averages.