France: Consumer confidence hits over-nine-year high in May
May 27, 2016
The consumer confidence indicator elaborated by the National Statistics Institute (INSEE) jumped from 94 points in April to 98 points in May and reached the highest reading since October 2007. The result overshot the 94 points markets had expected. As a result, the consumer confidence indicator is edging closer to its long-term average of 100.
In its statement, INSEE pointed out that consumers’ opinions regarding their future financial prospects improved. French consumers held a more optimistic outlook on their saving capacity after the sub-index had hit an over-four-year low in March. Lastly, consumers’ willingness to buy big-ticket items expanded significantly in May and was above its long-term average.