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.
Author: Nicolás J. Aguilar, Economist