French Consumer Confidence Falls to Its Lowest Level in More Than 3 Years

Paris: Consumer confidence in France fell during the current month to its lowest level in more than three years, according to the results of a survey published on Wednesday by the French National Institute of Statistics and Economic Studies (INSEE). According to Yemen News Agency, the French statistics office reported that the consumer confidence index fell more than expected in May to 82 points, compared to 84 points in April, recording its lowest level since March 2023. The survey showed a significant decrease in the proportion of households that consider the current economic situation suitable for making major purchases. The sub-index reflecting households' readiness to make significant purchases dropped by 5 points to -40 points. Households' assessment of their ability to save, both currently and in the future, remained stable in May at the same level as in April. Meanwhile, the proportion of households that believe saving is a good idea increased by one point to 40 percent. Consumers' perception of the past standard of living in France saw a notable decline, with the index decreasing by six points to -81 points. The index measuring confidence in the future standard of living fell by one point to -70 points, marking its lowest level since July 2022. However, there was a slight decrease in households' concerns about unemployment, as the unemployment anxiety index fell by two points to 54 points.