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French Households More Confident in Economy in October
Oct 26,2011 08:59CST
industry news
Source:SMM
French households turned more confident in economic situation in October than a month earlier as the index gained 2 points, but the households' confidence was still below its long-term average.

PARIS, Oct. 26 (Xinhua) -- French households turned more confident in economic situation in October than a month earlier as the index gained 2 points, but the households' confidence was still below its long-term average, the national statistics Insee said Tuesday.

Within the month, households appreciation of their past and future financial situation increased, so did their opinion about current saving capacity with 2 and 3 points more than those in September respectively.

However, either the sentiments about past and future financial situation or households' willingness to make major purchases all "remain below their long-term averages," Insee said on its website.

As to general economic situation in France, households showed less pessimistic about the future situation in October compared with the opinion between July and September. Fewer families expected rise in unemployment and "a declining inflation" was anticipated.

The jobless rate in metropolitan France stood at 9.1 percent so far as to the second quarter of this year after reporting around 2.6 million jobless population.

France, Europe's second largest economy is eager to quicken growth to 2 percent this year and to 2.5 percent by 2014 to digest the growing demand of job seekers and create enough jobs in the country of over 65 million population. Nevertheless, given the worrisome euro debt crisis that weighing down France's growth momentum, the government is considering to revise down the growth target this year as well as the next.

 

French households' confidence;

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