Don't miss

Replay


LATEST SHOWS

DOWN TO EARTH

Extinction crisis: Saving the planet's species from an irreversible fate

Read more

#THE 51%

Unlocking the code: Women refugees offered classes in coding

Read more

#TECH 24

Viva Technology!

Read more

ENCORE!

Marcia Gay Harden, a down-to-earth Hollywood star

Read more

YOU ARE HERE

France’s Camargue region and its herdsmen

Read more

FOCUS

The steady rise of women in Taiwanese politics

Read more

FASHION

For summer 2017 menswear, designers interrogate the complexity of modern life

Read more

THE INTERVIEW

Liberia's president hails 'milestone' as UN peacekeepers withdraw

Read more

IN THE PAPERS

The 'Brexecution' of Boris Johnson

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)