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Financial News: French Consumer Confidence Remains Stable At 90

French Consumer Confidence Remains Stable At 90

05/29/2024 - 04:27:00 (RTTNews)

(RTTNews) - France's consumer confidence held steady in May and still remained well below its long-term average, monthly survey data from the statistical office INSEE showed on Wednesday.

The consumer sentiment index stood at 90.0 in May, the same as in April. Meanwhile, economists had expected the score to rise to 91.

Further, the index remained well below its long-term average of 100.

The index measuring consumers' outlook regarding their financial situation worsened to -14 in May from -12 a month ago. Meanwhile, the sub-index for the past financial situation of households rose somewhat to -24 from -25.

The proportion of households believing it is a good time to make major purchases continued to show a slight resilience in May. The corresponding index increased by one point to -32.

Consumers were slightly less pessimistic about the future general economic situation. The corresponding index rose to -46 from -48, and the indicator for the past financial situation also increased marginally to -72 compared to -73 in the previous month.

Households' opinion regarding their future savings capacity improved in May as the relevant index increased from 11 to 12.

Consumers' fears about unemployment increased as the corresponding balance climbed to 27 in May from 22.

The share of households that believe that prices will increase over the coming twelve months rose slightly to -50 from -51.

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