June 28, 2024, by François Lapierre
French household morale declined slightly in June, according to INSEE, reflecting increased pessimism about future living standards in France. This drop in confidence is accompanied by persistent concern about the country’s economic situation, although fears related to unemployment have eased.
Household confidence down
The households surveyed expressed an almost stable opinion regarding their personal financial situation, both past (from -24 in May to -25 in June) and future (from -14 to -13). However, the proportion of those believing that it is appropriate to make major purchases has decreased slightly (from -33 to -32).
The savings capacity of French households shows notable variations. In June, the opinion on the current savings capacity rebounded by three points to reach 18, while that concerning the future savings capacity fell by four points, settling at 7. These figures reveal an increased uncertainty about the economic outlook, with households being more pessimistic about the evolution of their future standard of living (-46 to -50).
Alleviation of fears linked to unemployment
Moreover, a growing share of households anticipate an acceleration in prices over the next 12 monthswhich aggravates concerns about their purchasing power. The balance of opinion on this question increased by six points (from -53 to -47).
Despite this context of economic gloom, the INSEE survey reveals a slight decrease in fears related to unemployment. The corresponding balance of opinion went from 27 to 25, after having seen a notable increase in May. This relative improvement in the perception of the employment market constitutes a positive point in an overall gloomy picture.
The household morale indicator, based on a series of questions relating to their financial situation, their ability to save and their perception of the standard of living, remains an essential tool for assessing the confidence of the French in the economy. In June, this confidence was clearly dented, largely by an uncertain economic outlook and persistent inflationary fears. The stability of opinion on current savings contrasts with the sharp decline in future savings prospects, signaling growing concern about the ability of households to maintain their standard of living.
France
|
Family memory, genealogy, heraldry
|
International
|
Companies
|
Management
|
Lifestyle
|
Editorial Blogs
|
Divers
|
Native Advertising
|
Juris
|
Art & Culture
|
Prospective
|
Real Estate, Purchasing and Business Ethics
|
Intelligence and Economic Security – “Vauban’s Notebooks”
