Society. Household morale fell sharply in January

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Household morale in France fell sharply in January after rebounding in December. The proportion of those who want to save was approaching the highest level ever, INSEE reported on Wednesday.

'The opportunity to make larger purchases' is 'declining,' while the opportunity to save 'is increasing sharply,' said the National Institute of Statistics.

Against the background of the increasing intensity of the Covid-19 epidemic, the proportion of households that consider it appropriate to save is increasing 'very sharply' and 'has reached its December 2012 level, very close to its highest level. Historic high' . Achieved in 1994 and 1995, INSEE further states in its press release.

The synthetic indicator, which reflects household morale, drops three points to 92 points from 95 points in December and a long-term average of 100.

The indicator, which reflects the propensity to consume or save in France, fell to 89 in November, the lowest level since the yellow vests crisis in December 2018.

'In January, the proportion of households that believe it is appropriate to make major purchases will drop significantly,' said the press release, which although the households opinion of their future financial situation deteriorated sharply If this balance deteriorates sharply, it remains better than in November.