PARIS (Reuters) - French consumer confidence rose slightly more than expected in May to reach a near 10-year high, data released on Tuesday from the official INSEE statistics agency showed.
INSEE said that its monthly consumer confidence index rose to 102 from 100 in May, hitting the highest level since August 2007 and surpassing economists’ average forecast for a reading of 101. FRCONC=ECI
With concerns about unemployment stable, the improvement was driven by a spike in households’ outlooks for the general economic situation, which also reached the highest level since August 2007.
Following the election of President Emmanuel Macron this month, INSEE said similar spikes had been seen in past presidential elections.
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Reporting by Leigh Thomas; Editing by Sudip Kar-Gupta