PARIS (Alliance News) – French consumer confidence weakened unexpectedly in July, after strengthening to a decade high in the prior month, survey results from the statistical office Insee showed Wednesday.
The consumer sentiment index dropped notably to 104.0 in July from 108 in June, which was the highest score since June 2007. Meanwhile, economists had expected the index to remain stable at 108.0.
Assessment of both past and future financial situation worsened in July. The indicator for past financial situation fell to -17 from -14 in June and that for future situation declined from -3 to -9.
Households’ opinion on their expected saving capacity dropped by 2 points and became negative in July. The corresponding index decreased to -3 from +1.
Households’ fears concerning unemployment rose marginally in July, with the index rising to 8 from 6 in June.
In July, households were more numerous to expect prices to increase during the next twelve months. The respective index recovered by 9 points to -32.
Copyright RTT News/dpa-AFX