More French feel its time to save

More French feel its time to save

French consumer confidence was stable in April, but the number of those who feel it is the time to save jumped higher, data released on Tuesday by the national statistics office showed.

The overall indicator of household sentiment gained one point from the level in March to an indexed 88, but remained well below its long-term average of 100 points, the Insee office said.

A sub index that measures consumers inclination to put money aside leapthowever by 11 points to an indexed 33, its highest level since the early days of the global financial crisis in October 2007.

Many consumers also felt it was not the time to make large purchases, and that sub-index dipped by one point. 

But French households nonetheless also felt that the prospects for their present and future personal financial situation had improved, even though the respective levels remained below the long-term average, Insee said.

A few more expected national unemployment levels to get worse, but for inflation to ease up as well.

Inflation expectations have fallen by 11 points since November and now stand at the lowest level since November 2010.

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