Household confidence in France's economic situation improved in May, as sentiment regarding the personal financial situation and standard of living improved, survey data from the country's National Institute of Statistics and Economic Studies showed.
The synthetic index, a gauge of household opinions on France's economic situation, increased 3 points month over month to 99 in May, nearing its long-term average of 100. The opinion balance on the financial situation for the last 12 months gained 2 points to negative 23, while the opinion balance for the next 12 months rose 3 points to negative 5, above the long-term average of negative 6.
A greater share of households now intends to make major purchases, with the corresponding index improving 2 points to negative 13, surpassing the long-term average of negative 14. While the opinion balance on current saving capacity rose 1 point to 11, the balance on saving intentions for the next 12 months remained unchanged at 12.
The shares of households seeing an improvement in living standards in France in the past 12 months and next 12 months gained 3 points each.
Fears surrounding unemployment in the next 12 months declined, as the corresponding opinion balance fell 10 points to 16. The balance had risen to 21 in March and 26 in April.
The survey targeted nearly 2,000 households, whose responses were collected between April 29 and May 16.