French consumer sentiment slightly down in July

GMT 09:10 2015 Thursday ,30 July

Arab Today, arab today French consumer sentiment slightly down in July

Consumer confidence synthetic index
Paris - XINHUA

France's households expressed more pessimism about the economic and financial situation in the country at the end of July, according to data released Wednesday by the Paris-based official statistics institute, Insee.

The consumer confidence index lost one point this month compared to 94 recorded in June with the general sentiment for economic outlook was stable.

New data showed that consumer appreciation about the past general economic situation was unchanged at minus 57 and their expectations for the future gained one point to minus 35 (from minus 36).

As to their future personal financial situation, French households showed little optimism but more of them thought that it's good time to make savings, according to the report.

Pessimism for future unemployment still haunted consumers' sentiment in July as a month earlier, with the index stood at 56 points, above its long-term average of 32 points.

In order to digest millions of job demands in a country with a population of 66 million, France, Europe's second largest economy, offered companies 30 billion euros (about 33 billion U.S. dollars) cut in labor charges to encourage recruitment and investment and pumped more billions of euros in "future contracts" aimed at hiring poorly-qualified young unemployed people.

It also targets 1 percent GDP growth this year against the 0.4 percent recorded in 2014. (1 euro = 1.11 U.S. dollars) Enditem

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