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Financial News: French Consumer Confidence Improves In May

French Consumer Confidence Improves In May

05/26/2021 - 03:46:00 (RTTNews)

(RTTNews) - France's consumer sentiment improved in May, monthly survey results from the statistical office Insee showed on Wednesday.

The consumer confidence index rose to 97 in May from 95 in April. The score came in line with economists' expectations.

The index related to their future financial situation gained three points to -4 and the opinion balance related to their past personal financial situation remained unchanged at -13 in May.

The share of households considering it is a suitable time to make major purchases also held steady at -12.

Further, the survey showed that the share of households considering that the standard of living in France will improve in the next twelve months increased clearly to -26 from -36 a month ago.

The share of households considering that the standard of living improved over the past twelve months rose only moderately in May, with the corresponding balance rising three points to -72.

Consumers' assessment about both current and future saving capacity reached new all-time high in May. The indicator for the current saving capacity came in at 29 and that for expected saving capacity hit 14.

Households' fears about unemployment trend clearly decreased in May. The corresponding balance lost thirteen points and reached 49, its lowest level since March 2020.

Further, consumer prices are expected to rise during the next twelve months. The corresponding balance has gained six points to -15 from -21 in April.

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