In December 2016, households' confidence remains just below normalMonthly consumer confidence survey - December 2016

In December 2016, households' confidence was stable: the synthetic confidence index has remained at 99, just below its long-term average (100)

Informations rapides
No 2
Paru le : 04/01/2017
Prochaine parution le : 27/09/2017 at 08:45 - September 2017

In December 2016, households' confidence was stable: the synthetic confidence index has remained at 99, just below its long-term average (100)

Graph1 – Consumer confidence synthetic index

  • Source: INSEE

Personal situation

Past financial situation: improving slightly

In December, households' opinion of their past personal financial situation improved slightly: the corresponding balance has gained 2 points. It returned closer to its long-term average. Households' opinion of their future personal financial situation was stable. The corresponding balance is slightly below its long-term average.

In December, the share of household considering it has been a suitable time to make major purchases was virtually stable (+1 point), well above its long-term average.

Saving capacity: virtually stable

In December, households' balance of opinion on their expected saving capacity was virtually stable (−1 point): for four months it has stayed slightly above its long-term average. The balance concerning their current saving capacity of opinion was stable, barely lower than its long-term average.

Households were less numerous to consider it has been a suitable time to save: the corresponding balance lost 5 points in December. Thus, it deviated further from its long-term average.

Graph2 – Balances on personal financial situation and standard of living in France

  • Source: INSEE

Economic situation in France

Past standard of living: less optimism

In December, households' opinion of their past standard of living in France worsened after an improvement in November: the corresponding balance lost 4 points and deviated anew from its long-term average. Their opinion of the expected standard of living in France was virtually stable (+1 point). The balance stands at its highest level since October 2007, just above its long-term average.

Unemployment: fears falling again

Households' fears concerning unemployment faded again in December (−5 points), after a sharp fall in November. The balance, fallen below its long-term average in November, deviated further from it. Its level is lower than it has been since June 2008.

Expected inflation: rising sharply

In December, households were many more numerous than in November to consider that prices should increase during the next 12 months: the balance gained 11 points and went back above its long-term average. Likewise, household were a little more numerous than in November to consider that prices increased during the past 12 months: the corresponding balance rose by 2 points. However, the balance has remained far below its long-term average.

Graph3 – Households' unemployment expectations

  • Source: INSEE

Graph4 – Households' perception of prices

  • Source: INSEE

Table – CONSUMER OPINION: synthetic index and opinion balances

Balance of responses, seasonally adjusted
CONSUMER OPINION: synthetic index and opinion balances
2016
Av. (1) Sept. Oct. Nov. Dec.
Synthetic index (2) 100 97 98 99 99
Financial sit., past 12 m. –21 –23 –23 –24 –22
Financial sit., next 12 m. –5 –9 –7 –8 –8
Current saving capacity 8 9 6 7 7
Expected saving capacity –9 –7 –7 –6 –7
Savings intentions, next 12 m. 18 1 –3 –2 –7
Major purchases intentions, next 12 m. –14 –6 –5 –5 –4
Standard of living, past 12 m. –45 –54 –53 –49 –53
Standard of living, next 12 m. –25 –30 –28 –25 –24
Unemployment, next 12 m. 35 30 38 26 21
Consumer prices, past 12 m. –16 –46 –52 –51 –49
Consumer prices, next 12 m. –34 –34 –36 –40 –29
  • (1) Average value between January 1987 and December 2016
  • (2) This indicator is normalised in such a way that its average equals 100 and standard error equals 10 over the estimation period (1987-2016).
  • Source: INSEE, monthly consumer confidence survey

Documentation

Methodology (pdf, 64 Ko)