France Consumer Confidence May 2020

France

France: Consumer sentiment deteriorates further in May

May 27, 2020

In May, consumer sentiment declined to 93 from 95 in April, according to the Statistical Institute (INSEE). As such, the index fell further down the 100-threshold—its long-term average.

Households grew more concerned over unemployment in May, as restrictions to quell Covid-19 prompted business closures, while their expected savings capacity soured. Meanwhile, consumers’ perception of their past standard of living and their past financial situation deteriorated. Regarding their standard of living and financial situation in the coming 12 months, consumers’ degree of pessimism remained largely unchanged.

FocusEconomics Consensus Forecast panelists expect private consumption to fall 6.5% in 2020, which is unchanged from last month’s forecast. The panel expects private consumption to increase 4.4% in 2021.


Author:, Economist

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France Consumer Confidence May 20 20

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


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