French consumer confidence declines further in Nov. ’24

French consumer confidence continued to decline in November 2024, with the indicator dropping three points to 90, remaining below its long-term average of 100, according to official data released on Wednesday.

Households’ views on their future financial situation fell five points, moving further from historical norms, while their opinions on major purchases stayed stable but far below average. Concerns over future savings capacity dipped slightly, with a two-point decline, though sentiments on current savings ability held steady above long-term levels.

Fears of unemployment surged sharply, with the indicator climbing nine points to its highest since May 2021, surpassing the historical average. Expectations for France’s standard of living deteriorated significantly, with future outlooks plunging eight points to their lowest since October 2023.

Price expectations rose, as households anticipating stronger price acceleration over the next year increased by eight points, while perceptions of past inflation gained six points, remaining well above long-term averages.

Attribution: Insee

Subediting: M. S. Salama