French Consumer Confidence Drops In July

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The French consumer confidence indicator dropped to minus 39 in July from minus 37 in June, results of the consumer confidence survey conducted by statistical office INSEE showed Friday. Economists had forecast the reading to remain at minus 37 in July.

The survey revealed that households' opinion about their past and expected living standards decreased in July.

More households considered their personal financial position worsened during last months. However, they are more optimistic about their future financial position.

The balance on the timeliness of making major purchases decreased in July.

Households are still very pessimistic about future unemployment. Households kept feeling that inflation is slowing, INSEE said.

The French consumer confidence indicator dropped to minus 39 in July from minus 37 in June, results of the consumer confidence survey conducted by statistical office INSEE showed Friday. Economists had forecast the reading to remain at minus 37 in July. (Market News Provided by RTTNews)