Full Breakdown
French Consumer Confidence Plummets to 13-Year Low Amid Widespread Protests
By Drooid · · How we work
Core Event
On October 27, 2026, France’s National Institute of Statistics and Economic Studies (INSEE) reported that the consumer confidence index fell five points to 80, the lowest level since June 2013. The drop occurred as nationwide protests, which began with high-school students in September, escalated into broader demonstrations against the government’s economic policies. Violence erupted on October 17, with looting and thousands of arrests, intensifying political uncertainty.
Context of Unrest and Economic Pressures
The protests originated from student demands for better school conditions and quickly expanded to include grievances over rising living costs, unemployment fears, and austerity measures pursued by the minority government. A bond-market sell-off accompanied the unrest, pushing the extra yield on French bonds to 161 basis points, up seven basis points over German benchmarks. Inflation expectations also rose, with the share of households expecting price increases in the next twelve months climbing eight points in October.
Key Data Points
- Consumer confidence index: 80 (down 5 points) – INSEE.
- Long-term average (Jan 1987 – Dec 2025): 100 – INSEE.
- Share believing prices rose sharply: +8 points (October) – INSEE.
- Future financial-outlook sub-index: -9 points; past-outlook sub-index: -6 points – INSEE.
- Unemployment-fear index: +5 points – INSEE.
- Savings-climate index: 118 (above its long-term average of 100) – INSEE.
Official Statements & Responses
President Emmanuel Macron pledged to maintain a heightened security presence and visited police in Marseille, stating that the country should not experience such turmoil six months before a presidential election. The government announced on October 26 that it will overhaul university-place allocation, limit certain class sizes, and provide loans for school-building renovations.
Jean Dalbard, economist at Bloomberg Economics, warned:
“Weak sentiment is likely to weigh on spending as political uncertainty increases. This brings further downside risks to our fourth-quarter growth forecast,” — Jean Dalbard, economist at Bloomberg Economics
Upcoming Developments
Protests are expected to continue on Saturdays, and a coordinated day of demonstrations and strikes is scheduled for November 5, backed by France’s largest trade unions. Inflation data for October 30 is slated to be released, with expectations of a further rise to 3.6 %. The upcoming figures will shape assessments of fourth-quarter growth and the government’s fiscal response.