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Wednesday, May 28, 2008

France Consumer Confidence May 2008

Consumer confidence in France dropped to a record low in May after fuel, gasoline and food costs soared. The French consumer sentiment index fell to minus 41, the lowest level since the index was introduced in 1987, from a revised minus 38 in April, Insee, the Paris-based national statistics office, said today.

France's inflation rate fell to 3.4 percent in April after reaching 3.5 percent in March, the highest in at least 12 years. As a result, consumer spending on manufactured goods fell 0.8 percent in April from March, the third drop in four months, Insee reported last week.

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