France: Consumer confidence strengthens in May
May 26, 2011
In May, the consumer sentiment index published by the National Statistical Institute (INSEE) inched up to 84 points from 83 points in April, matching market expectations. Despite the increase, consumer confidence remains well below its long-term average of 100 points, which does not bode well for private consumption in the coming months. Households were slightly more optimistic about their future personal financial situation compared to the previous month. In addition, data showed notable improvements in households' perceptions of the general economic situation and employment expectations. Despite these improvements, respondents to the survey expressed a lower willingness to carry out major purchases.