Economy – The French have declining morale

Economy – The French have declining morale
Economy – The French have declining morale

Posted27 October 2021, 09:32

The share of households worried about their future financial situation increased in October, INSEE announced on Wednesday. The explosion in energy prices could be to blame.

The share of households who consider that prices have increased in the last 12 months is “very sharply up” and reached its highest level since 2012.

Photo d’illustration/AFP

Household morale fell again in October, the French worrying more about their future financial situation and their future savings capacity, reports INSEE on Wednesday. The synthetic indicator measuring this confidence fell to 99, below its long-term average of 100, against 101 in September, according to the National Institute of Statistics.

“In October, the proportion of households who consider that the standard of living in France will improve over the next twelve months is declining,” notes INSEE in its press release, against a backdrop of rebounding inflation and very sharp rise in energy prices.

The share of households who consider that prices have increased in the last twelve months is “very sharply up” and reached its highest level since 2012. “Households believing that prices will increase over the next twelve months are they also more numerous in October ”, specifies the press release.

Less and less afraid of unemployment

As a result, those who believe that their financial situation will deteriorate are more numerous and the proportion of households who plan to make major purchases is decreasing, even if it is still slightly above its long-term average. And the share of those who believe that their future savings capacity will decrease sharply.

Positive news comes from the employment front, with a further drop in the fear of unemployment, which continues to decline sharply, this fear being “well below its long-term average”.

(AFP)

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Economy French declining morale

 
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