Despite global economies’ willingness to gradually end the closure procedures for the Corona pandemic, and some have already implemented this, so far the consumer confidence levels are still at record low in France.
Pessimism about the economic conditions in the European region in general and France in particular prompted the consumer price index to continue its decline in May, despite measures to gradually reopen the economy.
The consumer confidence index in France declined to 93 points in May 2020 from 95 in April, compared to market expectations from 92. The deterioration in the household sector's assessment of the previous financial situation continued to reach -9 from -7, while the sub-index related to the standard of living also dipped to -48 from previous reading - 31.
Also, the sub-index on the ability of the household sector to save decreased in May by a value of -1 after the previous reading was zero. On the other hand, the sub-index that measures the aspiration of the family sector to make large purchases has improved somewhat to -45 after it was -60, but of course it remains in the negative zone.
As for the
developments of Corona pandemic infections in France, the total number of infected
cases reached 1,827,22 and the total deaths toll registered 28,530.