According to the report from INSEE, in July, the consumer confidence indicator rose to 91 points from 90 points in June (revised from 89 points). The latest reading was the highest since March. Economists had expected the index to be 90 points. But despite the growth in July, 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 3 points to -10 points. The index reflecting the opinion of households regarding their past financial situation increased by 2 points, to -22 points. The balance of opinion regarding the opportunity to make major purchases remained at -32 points. Meanwhile, the index assessing the opinion of households regarding their current ability to save remained unchanged (18 points). The balance of opinion regarding their ability to save in the future increased by 2 points to 9 points.
The data also showed that the proportion of households who consider that the standard of living in France will improve over the next twelve months remained unchanged - the corresponding balance was -50 points. Households' fears about unemployment have grown moderately: the corresponding balance increased by 3 points, to 28 points.