May 26, 2023 06:53 GMT
Consumer Sentiment Plateaus, Future Outlooks Edging Up
FRANCE MAY CONSUMER CONF 83 (FCST 84); APR 83
French consumer confidence was stable in May at 83, remaining well below the long-run average of 100 and missing consensus expectations of a one-point uptick.
- Further improvements in financial situation expectations, aided by a sharp fall in inflation concerns, were evident in May, alongside an uptick in expectations of living standards in France.
- A slight increase in unemployment concerns was noted, albeit these concerns remain very low.
- As such, the general direction of forward-looking indicators pointed towards modest positive developments in the French consumer climate. The indicator largely failed to improve due to backwards looking elements such as past finances and living standards.
- Yet the propensity to make major purchases weakened by another point this month, implying that French consumer spending looks to remain pressured for the near future.
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