The household confidence index in France stabilized in February after its rebound in January. Households having lost a little of their optimism as for their future financial situation, while their fears on the evolution of unemployment fell markedly, said INSEE on Wednesday.
The indicator, calculated on the basis of balances of opinion (differences between the proportion of positive and negative responses), remained at 104 points, and remains above its long-term average (100), said l 'statistical institute.
Fewer fears about the development of unemployment
In February, households were more pessimistic about their future financial situation, which fell by two points but which remains slightly above its long-term average. The proportion of households who consider it important to make major purchases also fell slightly compared to the previous month (- 1 point).
On the other hand, fears about the development of unemployment fell sharply in February (-12 points), the lowest since July 2007, said INSEE.
In addition, the balance of opinion of households on their future savings capacity increases by one point, but the share of households judging that it is appropriate for them to save decreases in February (-1 point). Households are however a little more optimistic about the future standard of living in France, with a balance up by 4 points, thus reaching its average.
Households preferred to save rather than consume
Despite the increase in purchasing power last year, due to the measures taken by the government in response to the movement of "yellow vests", households have so far preferred to save rather than consume.
Economists and the government scrutinize household morale because it is an important element in assessing the future level of consumption in France, the main driver of economic growth.
- Economy
- Growth
- Consumption
- Insee
- Saving
- households
- Unemployment