France: Confidence among consumers declines slightly in May
May 27, 2015
The consumer confidence indicator elaborated by the National Statistics Institute (INSEE) inched down from April’s 94 points to 93 points in May. The result undershot market expectations of a rise of the index to 95 points. As a consequence, the index is now further below its long-term average of 100.
According to INSEE, May’s result reflected consumers’ more pessimistic opinions regarding their current financial situation. This month’s survey also showed households’ intentions to buy big ticket items in the next 12 months worsened over the previous month. In addition, households responded that they were significantly less optimistic regarding their current and future savings capacity. However, the survey highlighted a decrease in consumers’ concerns over unemployment.
Author: Eric Denis , Economist