French consumer confidence rose in May, beating forecasts: INSEE

May 28, 2019

PARIS (Reuters) – French consumer confidence levels rose in May, beating forecasts to reach their highest level in a year, said the INSEE statistics agency, as the euro zone’s second-biggest economy continues to recover from anti-government protests.

INSEE said its measure of consumer confidence in May rose to 99 points from 96 in April. A Reuters poll of 16 economists had forecast 97 points for the May reading.

President Emmanuel Macron has pledged tax cuts in response to the protests, and INSEE said people in France were feeling more confident over their general purchasing power and personal financial situation.

(Reporting by Sudip Kar-Gupta; Editing by Andrew Heavens)

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