04 Apr 2019
In March, French consumer confidence rose to levels not seen in seven months – according to official data.
As Reuters reports, the INSEE official statistics agency revealed that consumer confidence increased from 95 points in February to 96 in March, suiting the projections of 16 economists polled by Reuters. This was the highest index reached since the 97 points recorded last August.
This positive development indicates that the Eurozone’s second-biggest economy is en route to recovery following the infamous “yellow vest” anti-government protests.
The French economy has proved resilient despite anti-government protests inevitably impacting businesses.
According to INSEE, French households have also gained confidence in their personal financial situation and spending power.
This was partially boosted by the decision to discard payroll tax for unemployment insurance, after having been one major request from protestors who complained of unaffordable taxes and living costs.