Household morale improved very slightly in November in France but remains well below its long-term average, according to data released on Friday by INSEE. The indicator rises 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 economic situation and their ability to save. Over the course of a month, “the balance of opinion relative to the future saving capacity gains five points and that of the current saving capacity gains three”, emphasizes the INSEE, adding that “these two balances are above their long-term average.
Rising unemployment fears
Five days after the publication of a first estimate of inflation for the month of November, the proportion of households that believe that prices will continue to rise in the next twelve months has fallen by three points but remains well above the historical average. The proportion of households that consider it convenient to save follows the same trend: it drops two points but remains above its long-term average.
Slightly more households than in October believe that the standard of living in France will improve in the next 12 months (+4 points). On a more negative note, jobless fears also increased by four points.
Household morale fell below 100 points in October 2021 and reached a record low in July 2022 (79). However, the indicator registered a second consecutive month of increase in November, after rising two points in October (from 80 to 82).
Source: BFM TV
