With the approach of the holidays, the French decided to have fun and for that, they drew on their savings. The outflow of the livret A could not last, however.
Second consecutive month uncovered for the livret A | Photo credits: Shutterstock
Would the French really have resumed consuming after months of frugality? Certainly if we are to believe the only evolution of the livret A in 2021. For the second consecutive month, it indeed records an outflow of 90 million euros, after -2.83 billion euros in October.
” This result is not a surprise, assures Philippe Crevel, director of the Cercle de l’Epargne. The month of November is traditionally a fundraising month. With the proximity of the holidays and in particular the “black Friday”, the French have had fun. In addition, in November, they had to pay local taxes (housing tax for the 20% of households that are still subject to it and property tax) “. Over the first eleven months of the year, the cumulative collection of the Livret A reached 16.87 billion euros, against 27.83 billion euros over the same period in 2020, proof of the strong rebound in consumption.
Shadow areas for 2022
The next few months, however, could be a game-changer. On the one hand, because the government has announced that it wants to revalue the interest rate of the preferred placement of the French, to take into account the rates of the money markets and inflation. According to the Cercle de l’Epargne, it “ could withhold a rate between 0.8 and 1% “. Despite everything, the real return on the Livret A would remain negative. “If the rate were set at 1%, the gain over one year for a Livret A of 5,000 euros would be 25 euros. For a Livret A at the ceiling, 22,950 euros, the gain would be 114 euros », Calculates Philippe Crevel.
On the other hand, the French could again hoard in reaction to the current pandemic situation rekindled by the Omicron variant. ” The drop in household morale could lead to a return of strong collections for the Livret A and all the more so if restrictive health measures were implemented. “, Evokes the Cercle de l’Epargne.
63% of French people have budgeted for gifts between 100 and 500 euros
One-third of French people plan to spend between 250 and 499 euros this year for Christmas gifts, according to a survey by the consulting firm Ferpection of 1,000 people. The majority (34%) will spend 100 to 259 euros, while the more affluent increase the bill beyond 500 euros (14% of households). It is more or less the same proportions as in previous years. Like every year, toys are the most purchased gifts (56% of spending). Next come perfumes and cosmetics, clothing and high-tech products.
Above all, the survey tells us that November 26, the launch day of Black Friday, is an essential event: half of the French say they have taken advantage of the promotions on this occasion to spoil their loved ones.
