France: very slight increase in household morale in November, according to INSEE

The indicator stands at 83, one point more than last October but 17 points below the 1987-2021 period.

Household morale improved very slightly in November in France, but remains well below its long-term average, according to data published Friday by INSEE. The indicator is up one point from October to stand at 83, or 17 points below its average level between 1987 and 2021, which was 100. According to the National Institute of Statistics, households are more optimistic than the previous month about their financial situation and their ability to save.

Over a month,the balance of opinion relating to future savings capacity gains five points and that on current savings capacity gains three points“, emphasizes INSEE, adding that”these two balances are above their long-term average“. Five days before the publication of an initial estimate of inflation for the month of November, the proportion of households believing that prices will accelerate further over the next twelve months has fallen by three points but remains well above the historical average. The proportion of households that consider it advisable to save is following the same trend: it is down two points but remains above its long-term average. Slightly more households than in October consider that the standard of living in France will improve over the next 12 months (+4 points).

On a more negative note, unemployment fears also increased by four points. Household morale fell below 100 points in October 2021 and reached a historic low in July 2022 (79). However, the indicator recorded a second consecutive month of increase in November, after rising two points in October (from 80 to 82).

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