25 August 2017
2017- n° 223In August 2017, households' confidence declines slightly Monthly consumer confidence survey - August 2017
In August 2017, households' confidence in the economic situation was slightly eroded: the composite indicator has lost one point (at 103) after falling by 4 points in July. However, it remains above its long-term average (100).
In August 2017, households' confidence in the economic situation was slightly eroded: the composite indicator has lost one point (at 103) after falling by 4 points in July. However, it remains above its long-term average (100).
graphiqueGraph1 – Consumer confidence synthetic index
- Source: INSEE
Personal situation
Future financial situation: improving slightly
In August, households have been a bit more optimistic regarding their future financial situation: the corresponding balance has regained 2 points, after slipping back by 7 points in July. This balance stands below its long-term average. Households' opinion on their past financial situation is stable; the corresponding balance remains above its long-term average.
The share of households considering it is a suitable time to make major purchases has declined in August, after a stability in July. The corresponding balance has lost 2 points but stays way above its long-term average.
Expected saving capacity: increasing
In August, households' balance of opinion on their expected saving capacity has recovered (+2 points, after −4 points in July). The one on their current saving capacity is unchanged. Both balances remain above their long-term average.
The share of households considering it is a suitable time to save is virtually stable: the corresponding balance has lost one point after rising by 2 points in July. This balance is clearly below its long-term average.
graphiqueGraph2 – Balances on personal financial situation and standard of living in France
- Source: INSEE
Economic situation in France
Future standard of living in France: much more moderate optimism
In August 2017, households' balance of opinion on the future standard of living in France has worsened again sharply: the corresponding balance has dropped by 9 points, almost as steep a fall as in July (−10 points), after a peak of optimism in June. Nevertheless, the balance remains above its long-term average. Households' balance of opinion on the past standard of living in France is almost unchanged (−1 point in August), after being stable in July. This balance stays close to its long-term average.
Unemployment: fears at their lowest since January 2008
Households' fears concerning unemployment have decreased markedly in August: the corresponding balance has fallen by 6 points (after +2 points in July). It has hit its lowest level since January 2008 and is way below its long-term average.
Perceived and expected inflation: declining
In August, households are less numerous than in July to expect prices to increase during the next twelve months: the corresponding balance has receded by 2 points and has returned to its long-term average.
Households are also less numerous to consider that prices were on the rise during the last twelve months: the corresponding balance has lost 2 points and stands at its lowest since April 2016, far below its long-term average.
graphiqueGraph3 – Households' unemployment expectations
- Source: INSEE
graphiqueGraph4 – Households' perception of prices
- Source: INSEE
tableauTable – CONSUMER OPINION: synthetic index and opinion balances
| Avg. (1) | May 17 | June 17 | July 17 | August 17 | |
|---|---|---|---|---|---|
| Synthetic index (2) | 100 | 102 | 108 | 104 | 103 |
| Financial sit., past 12 m. | –21 | –19 | –14 | –17 | –17 |
| Financial sit., next 12 m. | –5 | –5 | –3 | –10 | –8 |
| Current saving capacity | 8 | 14 | 14 | 12 | 12 |
| Expected saving capacity | –9 | –2 | 1 | –3 | –1 |
| Savings intentions, next 12 m. | 18 | 6 | 7 | 9 | 8 |
| Major purchases intentions, next 12 m. | –14 | –12 | –1 | –1 | –3 |
| Standard of living, past 12 m. | –45 | –45 | –39 | –39 | –40 |
| Standard of living, next 12 m. | –25 | –16 | 0 | –10 | –19 |
| Unemployment, next 12 m. | 35 | 14 | 5 | 7 | 1 |
| Consumer prices, past 12 m. | –16 | –54 | –54 | –54 | –56 |
| Consumer prices, next 12 m. | –34 | –34 | –41 | –32 | –34 |
- (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
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