French consumer confidence index slightly up in October: Insee

Source: Xinhua| 2018-10-26 20:30:25|Editor: xuxin
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PARIS, Oct. 26 (Xinhua) -- At the end of October, France's consumer confidence index about the country's economic and financial situation gained one point to stand at 95 from a month earlier, the national statistics bureau Insee said Friday.

Households' appreciation for their past and future financial balance were stable at minus 30 and minus 16 respectively. Their willingness to make major purchases was also unchanged, the report showed.

Monthly data showed that consumer appreciation about the past general economic situation was tainted by growing pessimism at minus 51, down by 3 percentage points, while their expectations for the future improved by 5 points.

As to unemployment rate, less people predicted an increase of unemployment in the future. The corresponding balance has lost 12 points over the period compared to data in September.

Consumers opinions showed more anticipation of growing inflation pressure and more willingness to save as consumers saving capacity index in the next 12 months grew by 2 points.

France is currently struggling to narrow its widening budget deficit and boost economic growth. It has targeted 1.7 percent growth this year, and pledged to cut down its deficit to 2.6 percent of GDP.

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