French Consumer Morale Worsens in May

The consumer confidence indicator in France fell to 82 in May 2026 from 84 in April, below expectations of 83, marking its lowest level since March 2023 and moving further below its long-term average of 100. Households grew more pessimistic about their financial situation, with views on both past (-29 vs -26 in April) and expected finances (-20 vs -19) deteriorating further. Assessments of living standards in France also weakened, both past (-81 vs -75) and future (-70 vs -69). Major purchase intentions declined sharply to -40 from -35, while unemployment expectations remained elevated at 54, despite easing slightly from 56. Meanwhile, households’ perceptions of past price increases continued to rise (27 vs 25), while future inflation expectations eased (2 vs 10). Saving intentions edged higher to 40 from 39, while both current and expected saving capacity remained unchanged at 18 and 14, respectively.

The consumer confidence indicator in France fell to 84 in April 2026 from 89 in March, below the expected 88. This marks the lowest reading since May 2023 and the largest monthly decline since early 2022. Inflation expectations increased sharply, with past price perceptions turning notably positive (23 vs -7), the biggest increase in over 40 years, while expected inflation rose (11 vs 0), attributed to inflationary pressures stemming from the Iran conflict. Perceptions of both current (-26 vs -20 in March) and expected (-20 vs -13) financial situations deteriorated further, while assessments of saving capacity also weakened in both the current (18 vs 23) and expected (14 vs 16) categories. Households became more pessimistic about their standard of living, both past (-75 vs -67) and future (-69 vs -63), while major purchase intentions declined further (-36 vs -30). Unemployment expectations worsened, rising to 56 from 49.

The consumer confidence indicator in France fell to 89 in March 2026, in line with market expectations but slightly below February’s reading of 91. This marked the lowest level since November 2025 and remained below its long-term average of 100, as households became more pessimistic about their future personal financial situation (-12 vs -8 in February), alongside a slight weakening in perceptions of saving capacity, both in the present (23 vs 24) and the future (16 vs 17). Consumers also expressed a more negative outlook on the country’s future standard of living (-62 vs -55). Meanwhile, the share of households expecting prices to accelerate over the next twelve months dropped sharply (-1 vs -29), while the proportion of respondents who view it as a good time to make major purchases edged lower (-29 vs -28). Concerns about future unemployment also eased marginally (47 vs 48).