French consumer confidence falls sharply in November

The French consumer sentiment fell sharply in the month of November. The official statistical office INSEE showed that the household’s confidence in the economic situation fell strongly: the synthetic index dropped 3 points to 92, lowest since February 2015, below its long term average.

Consumers’ opinion balance in November about their future financial situation dropped slightly by 2 points and continues to be below its long term average. Household’s opinion on their past personal situation has continued to be virtually stable and the corresponding balance still stands below its long term average.

The share of households considering it is suitable time to make major purchases has fallen. The corresponding balance dropped 8 points and is lower than its long term average for the first time since December 2015. Meanwhile, households’ opinion balance on their expected saving capacity has fallen 6 points. Nevertheless, the households’ opinion balance on their current saving capacity has been virtually stable and continues to be above its long term average.

The share of households considering it is a suitable time to save has been virtually stable. The balance stays below its long term average. Meanwhile, the share of households considering that the future standard of living in France would rebound in the next 12 months has fallen. The index dropped 11 points.

Households’ opinion balance regarding the past standard of living in France has fallen again. It dropped 5 points and moved away its long term average. Household’s fears regarding the unemployment trend have solidly risen in November. The index rose 21 points, but stays below its long term average.

Meanwhile, households considering that prices were on the rise in the last 12 months have been more numerous than the previous month, rising 3 points. Nevertheless, households considering that prices would be on the rise in the next 12 months were not more numerous than last month.

At 13:00 GMT the FxWirePro's Hourly Strength Index of Euro was neutral at -2.88947, while the FxWirePro's Hourly Strength Index of US Dollar was neutral at 4.75776. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex