France Consumer Confidence March 2022

France

France: Consumer confidence falls to an over one-year low

March 29, 2022

Consumer confidence slid to 91.0 in March from February's 98.0. As a result, the index fell further below the neutral 100-threshold, separating pessimism from optimism among consumers.



March’s lower reading came against the backdrop of the war in Ukraine and was driven by a steep drop in household’s financial situation and their standard of living in the coming 12 months. Moreover, their expected capacity to save also slid markedly in March, while fears of unemployment going forward similarly rose. Lastly, concerns over inflation in the coming 12 months came in at the highest level since the series began 50 years ago.

FocusEconomics Consensus Forecast panelists expect private consumption to expand 4.5% in 2022, which is down 0.4 percentage points from last month’s forecast, and 1.9% in 2023.


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France Consumer Confidence March 2022 1

Note: Monthly consumer confidence survey; long-term average = 100.
Source: National Institute of Statistics and Economic Studies (INSEE).


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