French Household Confidence Improves in November 2023

In the latest monthly household confidence survey for November 2023, French households show a slight improvement in confidence, although it remains relatively low. The synthesized indicator rose by 3 points to reach 87, still well below the long-term average of 100 (between January 1987 and December 2022).

Key Points:

  1. Overall Confidence: The household confidence indicator increased from 84 in October to 87 in November 2023, signaling a modest improvement. However, it continues to lag behind the historical average.
  2. Personal Finances: While the outlook on personal financial situations saw a 5-point increase, both current and future perspectives remain below the long-term average.
  3. Purchasing and Saving: The willingness to make significant purchases saw a rebound with a 4-point increase, but it remains significantly below the historical average. The opportunity to save also bounced back with an 8-point increase, staying comfortably above the long-term average.
  4. Economic Context: Respondents expressed a more positive view of the future cost of living, but concerns about unemployment saw a rebound.
  5. Inflation Expectations: Expectations for future inflation decreased, indicating a more optimistic outlook in this regard.

While the improvement in confidence is a positive sign, the sustained lag behind the long-term average suggests ongoing concerns among French households. The economic context and future developments will likely play a crucial role in shaping consumer sentiment in the coming months.