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Economy in Brief

French Household Confidence is Diving
by Robert Brusca June 26, 2008

The French household confidence index fell to -46 in June from -42 in May. This series goes back to January of 1990. Since then there are 222 observations. This index is the lowest on this period. Living standards over the last 12 months and the coming 12 months were and are expected to be the worst of this period. The past and future financial situations are also the worst on record. The ability to save over the next twelve months is the second worst on record. The ability to spend is the second worst on record. In contrast price developments are rated as the highest on record for this period.

The current financial situation is rated in the bottom quartile of its range. Unemployment prospects are only mid-range and improved a tic from last month. Still, these two months are the worst unemployment readings since December of 2006 even though they are mid-range.

INSEE Household Monthly Survey
          Since Jan 1990
  Jun-08 May-08 Apr-08 Mar-08 Percentile Rank
Household Confidence -46 -42 -38 -37 0.0 222
Living Standards
past 12 Mos -78 -75 -71 -71 0.0 222
Next 12-Mos -57 -50 -44 -41 0.0 222
Unemployment: Next 12 17 18 5 11 49.1 142
Price Developments
Past 12Mo 66 66 58 60 100.0 1
Next 12-Mos -28 -34 -35 -41 35.2 52
Savings
Favorable to save 20 21 24 25 44.4 145
Ability to save Next 12 -21 -20 -13 -17 6.9 221
Spending
Favorable for major purchase -37 -33 -30 -29 8.6 221
Financial Situation
Current 8 10 11 12 23.8 172
Past 12 MOs -35 -33 -30 -31 0.0 222
Next 12-Mos -23 -19 -17 -15 0.0 222
Number of observations in the period: 222
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