Financial News: French Consumer Confidence Remains Stable In May

French Consumer Confidence Remains Stable In May

05/26/2023 - 07:34:00 (RTTNews)

(RTTNews) - France's consumer confidence remained unchanged in May, survey results from the statistical office INSEE showed on Friday.

The consumer confidence index held steady at 83 in May, while the score was forecast to rise to 84.0. The index has remained below its long-term average of 100.

The balance of opinion among households regarding their future financial situation increased two points to -18. Conversely, households' assessment about their past financial situation dropped one point to -33.

The indicator measuring the opportunity to make major purchases lost one point to hit -43 in May.

The balances of opinion among households regarding their current ability to save as well as their future saving capacity weakened by two points in May.

Households' view about their future standard of living in France improved further, while the assessment about the past change in the standard of living weakened to the lowest on record.

The gauge for the past standard of living dropped to -84 from -82 and the measure of future standard of living advanced three points to -57.

Households' fears about unemployment have increased slightly. The corresponding balance rose one point to 18.

Further, there was a sharp drop in the indicators measuring households' view about inflation. The measure for past changes in prices decreased four points but remained at a very high level of 75.0.

Regarding inflation prospects, fewer households than in April believe that prices will accelerate or increase at the same rate over the next twelve months. The corresponding balance plunged to -49 from -28. The survey was conducted between April 25 and May 17.

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