French Consumer Confidence Strongest Since Early 2022

French consumer sentiment strengthened to the highest level in more than two years in September, survey results from the statistical office INSEE showed on Wednesday.

The consumer confidence index rose to 95 from revised 93 in August. The score was forecast to remain unchanged at August's initially estimated value of 92.0.

This was the highest score since February 2022. However, the reading was below its long-term average of 100.

Households' opinion on their past and future financial situation improved in September. The past financial situation index rose to -21 from -23 and the expectations index climbed to -6 from -9.

The proportion of households believing it is a good time to make major purchases has kept growing. The corresponding indicator posted -29 compared to -30 a month ago.

Assessment about current and future ability to save strengthened in September, the survey showed. The balance of opinion related to their future ability to save gained five points and the one on their current ability to save moved up two points.

The proportion of households believing it is a good idea to save has kept rising. The corresponding index increased four points in September.

Consumers' view about future and past standard of living improved again. The index measuring future standard of living rose six points and the one related to their past standard of living advanced three points.

Further, households' fears about unemployment decreased in September. The corresponding balance lost two points to 26.

At the same time, the proportion of households who consider that prices increased over the past twelve months strongly decreased. The index fell sharply to 3 from 13. Meanwhile, the measure for future inflation held steady at -53.

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