Don't miss

Replay


LATEST SHOWS

FOCUS

Iraq: Embedded with French special forces in Mosul

Read more

ENCORE!

Dominique Dalcan: Godfather of French 90s pop returns to his roots

Read more

YOU ARE HERE

Ringing the bells of northern France

Read more

IN THE PAPERS

'Trump Administration Starts with Big Lie Over Small Thing'

Read more

BUSINESS DAILY

Samsung blames batteries for Galaxy Note 7 explosions

Read more

TALKING EUROPE

EU Transport Commissioner: 'We are preparing legislation on drones'

Read more

IN THE PAPERS

French left-wing primary: The 'two lefts' go to war

Read more

TALKING EUROPE

The problem with posted workers: Free movement or free labour?

Read more

FRANCE IN FOCUS

French education: Reinventing the idea of school

Read more

France

French consumer confidence plummets

© afp

Text by NEWS WIRES

Latest update : 2013-05-28

French consumers remain pessimistic and worried over future living standards, official data showed Tuesday. The confidence index fell in May to 79 points, a low last seen in July 2008 at the height of the financial crisis and equal to 1987 levels.

French consumers are deeply pessimistic, being as gloomy as they have ever been since 1987, official data showed on Tuesday.

They are increasingly worried about the outlook for their living standards, a monthly index compiled by the national statistics institute INSEE showed.

The index measures household confidence, which determines the level of household consumption, a key driver of growth in any economy and particularly so in France which is burdened by a big structural trade deficit.

The index in May fell to 79 points from 83 points in April.

This reading is equal to the lowest level reached since 1987, in July 2008, at the height of the financial crisis.

The average for the period from January 1987 to December 2012 was 100 points.

Households, when asked for their view of future living standards in France, gave answers which took this specific measure down another 2.0 points to the absolute lowest level during the reference period.

Households also showed an increasing belief that the unemployment rate, now 11.0 percent of the workforce, will rise.

(AFP)

Date created : 2013-05-28

  • FRANCE

    French govt backs 75% tax rate, scraps exec pay cap

    Read more

  • FRANCE

    French economy falls back into recession

    Read more

  • FRANCE

    Record 3.22 million jobseekers in France

    Read more

COMMENT(S)