Informations rapides
25 September 2019
2019- n° 250
In September 2019, households’ confidence has increased once again Monthly consumer confidence survey - September 2019

In September 2019, households’ confidence in the economic situation has increased for the ninth consecutive month. At 104, the synthetic index remains above its long-term average (100), reaching its highest level since January 2018.

Informations rapides
No 250
Paru le :Paru le25/09/2019
Prochaine parution le : 26/08/2025 at 08:45 - August 2025

In September 2019, households’ confidence in the economic situation has increased for the ninth consecutive month. At 104, the synthetic index remains above its long-term average (100), reaching its highest level since January 2018.

Consumer confidence synthetic index

Consumer confidence synthetic index
Consumer confidence synthetic index
2000-01 118
2000-02 118
2000-03 119
2000-04 122
2000-05 122
2000-06 122
2000-07 123
2000-08 121
2000-09 118
2000-10 119
2000-11 119
2000-12 123
2001-01 126
2001-02 124
2001-03 122
2001-04 120
2001-05 116
2001-06 114
2001-07 114
2001-08 112
2001-09 110
2001-10 111
2001-11 112
2001-12 112
2002-01 112
2002-02 111
2002-03 111
2002-04 109
2002-05 112
2002-06 111
2002-07 109
2002-08 108
2002-09 106
2002-10 107
2002-11 108
2002-12 108
2003-01 104
2003-02 102
2003-03 98
2003-04 99
2003-05 101
2003-06 101
2003-07 100
2003-08 100
2003-09 99
2003-10 98
2003-11 98
2003-12 98
2004-01 99
2004-02 98
2004-03 99
2004-04 101
2004-05 100
2004-06 99
2004-07 99
2004-08 100
2004-09 102
2004-10 101
2004-11 100
2004-12 99
2005-01 97
2005-02 99
2005-03 97
2005-04 97
2005-05 95
2005-06 94
2005-07 94
2005-08 93
2005-09 92
2005-10 92
2005-11 92
2005-12 95
2006-01 97
2006-02 98
2006-03 97
2006-04 96
2006-05 95
2006-06 96
2006-07 98
2006-08 98
2006-09 99
2006-10 99
2006-11 99
2006-12 98
2007-01 99
2007-02 99
2007-03 101
2007-04 101
2007-05 108
2007-06 108
2007-07 107
2007-08 104
2007-09 101
2007-10 100
2007-11 94
2007-12 94
2008-01 90
2008-02 90
2008-03 89
2008-04 88
2008-05 85
2008-06 82
2008-07 81
2008-08 82
2008-09 84
2008-10 82
2008-11 83
2008-12 83
2009-01 84
2009-02 84
2009-03 84
2009-04 86
2009-05 86
2009-06 89
2009-07 89
2009-08 89
2009-09 90
2009-10 90
2009-11 93
2009-12 94
2010-01 94
2010-02 92
2010-03 91
2010-04 89
2010-05 88
2010-06 87
2010-07 87
2010-08 89
2010-09 90
2010-10 91
2010-11 93
2010-12 90
2011-01 89
2011-02 89
2011-03 87
2011-04 86
2011-05 87
2011-06 86
2011-07 89
2011-08 86
2011-09 84
2011-10 87
2011-11 84
2011-12 83
2012-01 84
2012-02 85
2012-03 89
2012-04 90
2012-05 92
2012-06 92
2012-07 89
2012-08 86
2012-09 85
2012-10 84
2012-11 84
2012-12 86
2013-01 85
2013-02 86
2013-03 83
2013-04 84
2013-05 80
2013-06 79
2013-07 83
2013-08 85
2013-09 86
2013-10 87
2013-11 84
2013-12 85
2014-01 86
2014-02 85
2014-03 88
2014-04 86
2014-05 85
2014-06 85
2014-07 87
2014-08 86
2014-09 86
2014-10 86
2014-11 87
2014-12 90
2015-01 90
2015-02 92
2015-03 94
2015-04 95
2015-05 93
2015-06 93
2015-07 93
2015-08 94
2015-09 97
2015-10 96
2015-11 96
2015-12 96
2016-01 97
2016-02 96
2016-03 95
2016-04 94
2016-05 98
2016-06 96
2016-07 95
2016-08 96
2016-09 97
2016-10 98
2016-11 99
2016-12 99
2017-01 100
2017-02 101
2017-03 101
2017-04 100
2017-05 102
2017-06 108
2017-07 104
2017-08 103
2017-09 101
2017-10 100
2017-11 103
2017-12 105
2018-01 105
2018-02 100
2018-03 100
2018-04 101
2018-05 99
2018-06 96
2018-07 97
2018-08 96
2018-09 94
2018-10 95
2018-11 92
2018-12 87
2019-01 92
2019-02 95
2019-03 96
2019-04 97
2019-05 99
2019-06 101
2019-07 102
2019-08 103
2019-09 104

Consumer confidence synthetic index

  • Source: INSEE.

Personal situation

Future personal financial situation: further increase

In September, households' opinion balance on their future financial situation has increased for the third consecutive month and remains above its long-term average. Households' opinion balance about their past financial situation has been virtually stable and also remains above its long-term average.

Furthermore, the share of households considering it is a suitable time to make major purchases has slightly increased compared to last month and remains above its long-term average.

Expected saving capacity: marked rise

In September, households’ opinionon their expected saving capacity has improved markedly: the corresponding balance has increased by 3 points and continues to move away from its long-term average. The current saving capacity balance has also increased by 1 point.

The share of households considering it is a suitable time to save has decreased: the corresponding balance has decreased by 2 points and remains below its long term average.

Balances on personal financial situation and standard of living in France

Balances on personal financial situation and standard of living in France
Standard of living, future Standard of living, past Financial situation, future Financial situation, past
2010-01 -32 -62 -9 -24
2010-02 -34 -67 -12 -27
2010-03 -40 -69 -13 -26
2010-04 -46 -69 -16 -27
2010-05 -52 -69 -19 -27
2010-06 -55 -71 -19 -27
2010-07 -49 -71 -19 -30
2010-08 -43 -66 -18 -29
2010-09 -42 -64 -18 -28
2010-10 -40 -64 -15 -28
2010-11 -38 -64 -11 -23
2010-12 -42 -68 -16 -26
2011-01 -44 -70 -18 -26
2011-02 -46 -67 -18 -27
2011-03 -51 -69 -23 -29
2011-04 -56 -71 -21 -31
2011-05 -49 -69 -20 -31
2011-06 -48 -68 -21 -33
2011-07 -42 -67 -18 -31
2011-08 -56 -71 -23 -30
2011-09 -55 -75 -24 -31
2011-10 -51 -73 -21 -29
2011-11 -59 -74 -25 -30
2011-12 -57 -74 -30 -32
2012-01 -54 -73 -27 -32
2012-02 -49 -73 -26 -32
2012-03 -40 -68 -19 -29
2012-04 -38 -66 -16 -29
2012-05 -30 -65 -16 -26
2012-06 -30 -68 -16 -27
2012-07 -43 -69 -19 -27
2012-08 -51 -72 -19 -29
2012-09 -57 -75 -21 -29
2012-10 -60 -73 -25 -29
2012-11 -55 -73 -25 -31
2012-12 -54 -69 -23 -29
2013-01 -58 -69 -25 -28
2013-02 -56 -71 -24 -27
2013-03 -61 -75 -26 -29
2013-04 -62 -76 -25 -28
2013-05 -63 -79 -26 -37
2013-06 -66 -80 -27 -35
2013-07 -57 -77 -24 -34
2013-08 -50 -73 -22 -33
2013-09 -46 -72 -20 -33
2013-10 -45 -69 -18 -35
2013-11 -53 -75 -19 -34
2013-12 -50 -73 -22 -34
2014-01 -48 -71 -19 -35
2014-02 -52 -72 -20 -34
2014-03 -47 -69 -19 -29
2014-04 -45 -70 -27 -32
2014-05 -50 -70 -23 -33
2014-06 -48 -69 -20 -36
2014-07 -49 -70 -17 -32
2014-08 -47 -70 -20 -33
2014-09 -51 -71 -20 -30
2014-10 -50 -73 -20 -31
2014-11 -48 -68 -17 -33
2014-12 -44 -67 -16 -27
2015-01 -42 -67 -17 -29
2015-02 -37 -61 -15 -27
2015-03 -34 -59 -13 -27
2015-04 -35 -57 -12 -24
2015-05 -34 -58 -14 -27
2015-06 -35 -58 -12 -27
2015-07 -36 -59 -12 -29
2015-08 -33 -57 -12 -29
2015-09 -28 -52 -6 -26
2015-10 -30 -54 -10 -24
2015-11 -31 -53 -10 -24
2015-12 -31 -54 -7 -26
2016-01 -27 -56 -9 -24
2016-02 -32 -56 -10 -24
2016-03 -35 -57 -12 -24
2016-04 -36 -57 -13 -25
2016-05 -28 -48 -10 -25
2016-06 -33 -54 -10 -23
2016-07 -33 -53 -10 -28
2016-08 -34 -54 -10 -22
2016-09 -29 -54 -9 -23
2016-10 -28 -53 -7 -23
2016-11 -25 -48 -7 -24
2016-12 -24 -52 -8 -22
2017-01 -26 -48 -5 -22
2017-02 -23 -48 -5 -22
2017-03 -23 -47 -7 -20
2017-04 -22 -50 -10 -19
2017-05 -17 -45 -6 -19
2017-06 1 -40 -4 -14
2017-07 -11 -40 -11 -17
2017-08 -20 -40 -9 -17
2017-09 -20 -42 -11 -21
2017-10 -23 -39 -16 -21
2017-11 -17 -38 -10 -19
2017-12 -15 -32 -9 -17
2018-01 -19 -31 -12 -16
2018-02 -24 -35 -18 -23
2018-03 -24 -39 -12 -24
2018-04 -22 -35 -12 -26
2018-05 -28 -39 -14 -25
2018-06 -33 -46 -14 -27
2018-07 -32 -47 -12 -28
2018-08 -30 -47 -11 -30
2018-09 -36 -50 -17 -30
2018-10 -30 -52 -16 -30
2018-11 -43 -57 -17 -28
2018-12 -41 -67 -22 -33
2019-01 -31 -64 -14 -28
2019-02 -29 -56 -12 -25
2019-03 -29 -52 -10 -26
2019-04 -29 -53 -8 -25
2019-05 -25 -51 -5 -23
2019-06 -23 -43 -6 -22
2019-07 -23 -41 -5 -20
2019-08 -22 -43 -4 -18
2019-09 -22 -40 -2 -18

Balances on personal financial situation and standard of living in France

  • Source: INSEE.

CONSUMER OPINION: synthetic index and opinion balances

Balance of responses, seasonally adjusted
CONSUMER OPINION: synthetic index and opinion balances (Balance of responses, seasonally adjusted )
Avg. (1) June 19 July 19 August 19 Sept 19
Synthetic index (2) 100 101 102 103 104
Financial sit., past 12 m. -21 -22 -20 -18 -18
Financial sit., next 12 m. -6 -6 -5 -4 -2
Current saving capacity 8 12 13 13 14
Expected saving capacity -9 -2 0 1 4
Savings intentions, next 12 m. 17 9 9 11 9
Major purchases intentions, next 12 m. -14 -11 -8 -8 -7
Standard of living, past 12 m. -45 -43 -41 -43 -40
Standard of living, next 12 m. -25 -23 -23 -22 -22
Unemployment, next 12 m. 33 14 12 6 1
Consumer prices, past 12 m. -17 -19 -25 -26 -26
Consumer prices, next 12 m. -33 -22 -23 -22 -26
  • (1) Average value between January 1987 and December 2018
  • (2) The indicator is normalised in such a way that its average equals 100 and standard error equals 10 over the estimation period (1987–2018).
  • Source: INSEE, monthly consumer confidence survey

Economic situation in France

Past standard of living in France: renewed optimism

In September, the share of households considering that the past standard of living in France has improved during the past twelve months has increased: the corresponding balance has increased by 3 points after a 2 point decrease in August and remains above its long-term average.

Households’ opinion balance about the future standard of living in France has been stable. It stands slightly above its long-term average.

Unemployment: fears decreasing again

Households' fears about the unemployment trend have diminished again in September: the corresponding balance has decreased by 5 points after a 6 point decrease in August. It thus has reached its lowest level since January 2018, well below its long-term average.

Perceived inflation: decrease

In September, households considering that prices will be on the rise during the next twelve months have been less numerous than the previous month: the corresponding balance has decreased by 4 points but remains above its long-term average. On the contrary, the share of households considering that prices were on the rise during the past twelve months has been stable: the corresponding balance remains clearly below its long-term average.

Households' unemployment expectations

Balance, SA
Households' unemployment expectations (Balance, SA)
Households' unemployment expectations
2010-01 55
2010-02 49
2010-03 58
2010-04 57
2010-05 58
2010-06 65
2010-07 59
2010-08 46
2010-09 31
2010-10 34
2010-11 35
2010-12 34
2011-01 37
2011-02 41
2011-03 33
2011-04 35
2011-05 27
2011-06 29
2011-07 37
2011-08 51
2011-09 57
2011-10 49
2011-11 61
2011-12 59
2012-01 57
2012-02 56
2012-03 52
2012-04 55
2012-05 43
2012-06 53
2012-07 65
2012-08 73
2012-09 73
2012-10 73
2012-11 70
2012-12 74
2013-01 72
2013-02 73
2013-03 77
2013-04 74
2013-05 78
2013-06 78
2013-07 61
2013-08 56
2013-09 51
2013-10 37
2013-11 62
2013-12 48
2014-01 55
2014-02 55
2014-03 55
2014-04 57
2014-05 61
2014-06 67
2014-07 67
2014-08 62
2014-09 67
2014-10 52
2014-11 66
2014-12 65
2015-01 66
2015-02 58
2015-03 43
2015-04 61
2015-05 62
2015-06 61
2015-07 58
2015-08 50
2015-09 45
2015-10 47
2015-11 36
2015-12 45
2016-01 36
2016-02 44
2016-03 39
2016-04 51
2016-05 25
2016-06 26
2016-07 28
2016-08 33
2016-09 28
2016-10 31
2016-11 28
2016-12 19
2017-01 18
2017-02 19
2017-03 21
2017-04 16
2017-05 22
2017-06 6
2017-07 9
2017-08 -2
2017-09 15
2017-10 13
2017-11 4
2017-12 6
2018-01 1
2018-02 4
2018-03 5
2018-04 4
2018-05 5
2018-06 16
2018-07 14
2018-08 23
2018-09 22
2018-10 7
2018-11 28
2018-12 30
2019-01 32
2019-02 11
2019-03 21
2019-04 26
2019-05 15
2019-06 14
2019-07 12
2019-08 6
2019-09 1

Households' unemployment expectations

  • Source: INSEE.

Households' perception of prices

Balance, SA
Households' perception of prices (Balance, SA)
Past prices Future prices
2010-01 -14 -41
2010-02 -19 -41
2010-03 -19 -39
2010-04 -10 -34
2010-05 -11 -28
2010-06 -10 -29
2010-07 -6 -27
2010-08 -4 -24
2010-09 -2 -29
2010-10 0 -25
2010-11 3 -25
2010-12 9 -22
2011-01 18 -19
2011-02 25 -9
2011-03 30 6
2011-04 46 0
2011-05 40 -13
2011-06 33 -14
2011-07 32 -18
2011-08 27 -18
2011-09 25 -20
2011-10 22 -23
2011-11 20 -15
2011-12 19 -16
2012-01 21 -16
2012-02 23 -11
2012-03 22 -21
2012-04 27 -20
2012-05 12 -32
2012-06 12 -34
2012-07 -2 -25
2012-08 -1 -16
2012-09 3 -13
2012-10 -1 -15
2012-11 -4 -14
2012-12 -7 -19
2013-01 -8 -19
2013-02 -10 -22
2013-03 -10 -14
2013-04 -13 -20
2013-05 -16 -17
2013-06 -11 -19
2013-07 -8 -17
2013-08 -3 -21
2013-09 4 -25
2013-10 -8 -21
2013-11 -8 -22
2013-12 -8 -17
2014-01 -15 -15
2014-02 -19 -22
2014-03 -23 -28
2014-04 -24 -29
2014-05 -23 -26
2014-06 -28 -31
2014-07 -31 -31
2014-08 -35 -37
2014-09 -40 -33
2014-10 -38 -28
2014-11 -38 -36
2014-12 -46 -43
2015-01 -50 -45
2015-02 -51 -45
2015-03 -53 -48
2015-04 -51 -43
2015-05 -56 -40
2015-06 -54 -38
2015-07 -52 -37
2015-08 -50 -36
2015-09 -52 -41
2015-10 -50 -41
2015-11 -50 -40
2015-12 -51 -39
2016-01 -52 -41
2016-02 -56 -39
2016-03 -58 -37
2016-04 -58 -37
2016-05 -53 -39
2016-06 -53 -36
2016-07 -51 -37
2016-08 -51 -35
2016-09 -45 -35
2016-10 -52 -39
2016-11 -52 -38
2016-12 -48 -29
2017-01 -44 -23
2017-02 -46 -31
2017-03 -47 -25
2017-04 -51 -27
2017-05 -56 -34
2017-06 -56 -41
2017-07 -53 -31
2017-08 -54 -33
2017-09 -54 -31
2017-10 -49 -24
2017-11 -45 -27
2017-12 -46 -34
2018-01 -42 -14
2018-02 -34 -19
2018-03 -39 -23
2018-04 -40 -25
2018-05 -30 -18
2018-06 -26 -20
2018-07 -25 -21
2018-08 -25 -22
2018-09 -14 -17
2018-10 -13 -15
2018-11 -10 -11
2018-12 -10 -24
2019-01 -33 -39
2019-02 -28 -18
2019-03 -20 -23
2019-04 -20 -21
2019-05 -20 -22
2019-06 -19 -22
2019-07 -25 -23
2019-08 -26 -22
2019-09 -26 -26

Households' perception of prices

  • Source: INSEE.

Revision

Due to the updating of the seasonal adjustment coefficients, the synthetic index of August 2019 was revised upwards by one point: it now stands at 103.

For more information

Definition – The synthetic households’ confidence index summarizes households’ opinion on the economic situation: the higher its value, the more favorable households’ judgment of the economic situation is. It is calculated using a factor analysis technique, which enables to summarize concomitant movements of highly correlated variables. The index describes here the common factor of 8 balances of opinion: past and future general economic situation in France, past and future personal financial situation, unemployment, major purchases intentions, current savings capacity and expected savings capacity.

Calculation method – Around 2,000 households are surveyed by telephone, during the first three weeks of each month. Answers to this survey were collected between August 28 and September 17 2019.For each question, a balance of opinion is calculated as the difference between the percentages of positive and negative answers. Since the level of these balances is not open to direct interpretation, comments are based on their changes and their distance to their long–term average. Seasonal coefficients are calculated again every month, hence the slight revision of the seasonal adjusted balances history at each publication. Moreover, long term averages and seasonal coefficient models have been updated for this publication, thanks to the integration of a complete year of additional data.

Next publication: October 29 at 8:45 am

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