France consumer confidence remains unchanged in September

The INSEE reported on Tuesday that the households’ confidence in the economic situation in France was stable in September.

The consumer confidence synthetic index came in at 95, unchanged from an upwardly revised 95 in August (originally 94). The latest reading was above economists’ forecasts for 94 but below its long-term average of 100.

According to the report, the households' opinion balance on their future financial situation increased two points to -5 in September, while the balance related to their past financial situation fell one point to -16. The balance of savings intentions climbed nine points to 34, recording advance for the fifth consecutive month. Meanwhile, the households’ opinion balances related to their current and expected saving capacity rose by 1 point each to 23 (current) and 6 (expected) respectively, both remaining well above their long-term averages. The households’ opinion balance about the future standard of living in France improved by five points to -47. The households' fears about the unemployment rose slightly, with the corresponding balance edging up one point to 70.