France: Consumer confidence picks up but remains in negative territory in May
Consumer confidence came in at 97 in May, up from April’s 95. May’s result marked the strongest sentiment since March last year. As a result, the index moved closer to the 100-threshold, but continued to indicate pessimism among consumers.
The uptick in the headline reading reflected improved sentiment regarding current and expected saving capacity, while views on households’ financial situation in the next 12 months turned less pessimistic. Moreover, views on standard of living expectations in the year ahead turned less grim. Meanwhile, fewer people expect the unemployment rate to rise in the next 12 months; the subindex remained above its long-term average, however.