The French buy less and save more
In France, consumer mood has fallen against the background of a high number of new infections in the corona pandemic. According to the Insee statistics office, the index value for the consumer climate in January fell by three points to 92 points. Analysts had only expected a slight decrease to 94 points on average.
At the end of 2020, the prospect of nationwide corona vaccinations had noticeably lightened the mood of French consumers. Despite the dampening mood, the value for January is above the index levels from spring 2020 and last November, when government measures to contain the pandemic weighed on.
The statistical office reported declines in the propensity of the French to buy and in the assessment of their personal financial situation for January. On the other hand, there was an increase in the propensity to save.
