According to the report from INSEE, in March, the consumer confidence indicator dropped to 92 points from 93 points in February. Economists expected an increase to 94 points. Against the background of the latest decline, the index was 8 points below its long-term average (100 points).
INSEE said that the index, which evaluates the opinion of households about their future financial situation, fell by 7 points to -11 points. The index reflecting the opinion of households regarding their past financial situation decreased by 1 point to -21 points. The balance of opinion regarding the opportunity to make major purchases increased by 2 points to -26 points. The proportion of households believing it is a good idea to save has fallen slightly - the corresponding balance of opinion has lost 2 points, but remains well above its long-term average. Last month, it had reached its highest level since the beginning of the monthly survey's existence (1987). Meanwhile, the index assessing the opinion of households regarding their current ability to save fell by 1 point, to 17 points. The balance of opinion related to their future ability to save remained at 15 points.
The data also showed that the households' opinion on future standard of living in France has deteriorated: the associated balance of opinion has fallen by 3 points. The one related to past standard of living has gained 1 point. Both balances remain well below their long-term averages.