Latest data released by INSEE - 27 May 2020
- Prior 62; revised to 53
- Consumer confidence 93 vs 92 expected
- Prior 95
- Manufacturing confidence 70 vs 85 expected
- Prior 82; revised to 68
Business confidence missed on expectations but the reading needs to be taken into context, since the April reading was revised much lower. That shows that sentiment was much bleaker last month and while it has improved in May, it is still extremely subdued.
Meanwhile, consumer confidence declined eased a little more although the drop there hasn't been too particularly big despite the fallout from the virus outbreak and lockdown measures. So, there's at least one positive takeaway for now.
