In March 2011, households’ confidence decreases (-2 points)

In March 2011, household’s confidence about the economic situation decreases with respect to February (-2 points). Still lower than its long term average, the synthetic confidence index reaches its level of July 2010. Balances on expectations mainly contribute to this decrease despite improved unemployement expectations. Besides, households report sizable increases of inflation.

Personnal situation

Financial situation : decreasing

In February, households appreciation of their past financial situation is slightly decreasing while their expectations decrease more strongly (-4 points). Moreover, households’ opinion on the timeliness to make major purchases looses 1 point.

Savings : overall stable

Households’ opinion about their current saving capacity gains one point in March. However, households appreciation of their savings capacity in the next 12 months loses 1 point.

The opinion on the timeliness for savings is stable with respect to February.

Consumer synthetic index

CONSUMER OPINION: synthetic index and opinion balances
		2010	2011
Balance of responses, seasonally ajusted
(1) Average value between January 1987 and December 2010
(2) This indicator is normalised in such a way that its average equals 100 and standard error equals 10 over the estimation period (1987-2010).
	Average (1)	Dec.	Jan.	Feb.	Mar.
Synthetic index (2)	100	86	85	85	83
Financial sit., past 12 m.	–17	–24	–25	–26	–27
Financial sit., next 12 m.	–2	–19	–21	–19	–23
Current saving capacity	11	15	15	13	14
Expected saving capacity	–9	–11	–11	–13	–14
Savings intentions, next 12 m.	20	23	22	22	22
Major purchases intentions, next 12 m.	–13	–21	–23	–22	–23
General economic sit., past 12 m.	–40	–69	–70	–68	–68
General economic sit., next 12 m.	–21	–48	–49	–50	–53
Unemployment, next 12 m.	33	44	46	49	40
Consumer prices, past 12 m.	–19	–1	9	16	21
Consumer prices, next 12 m.	–35	–17	–13	–5	10

Economic situation in France

General economic situation in France : more pessimistic expectations

Households opinion about the past general economic situation in France is stable in March. However, expectations decrease with respect to February (-3 points). These balances remain widely below their long term average.

Future unemployment: fears mitigate

In March, households are much less numerous than in February to forecast an increase in unemployment, the corresponding balance looses 9 points. This balance of opinion renews with the level it had in summer 2008.

Inflation’s appreciation: very sharp increase

In March, households report that past inflation has sharply increased (+5 points). Moreover, the expected inflation balance of opinion jumped by 15 points, to reach its highest level since July 1995. These two balances are much higher than their long term average.

Balances on personnal financial situation and general economic situation