French Consumer Confidence Drops

Nov 27 2018, 7:53 AMNov 27 2018, 8:22 AMNovember 27 2018, 7:53 AMNovember 27 2018, 8:22 AM

(Bloomberg) -- Uncertainty over France’s economic outlook rose on Tuesday as a measure of consumer confidence showed the country’s main growth engine is quickly losing power.

Consumer confidence in the euro area’s second-largest economy fell further below its long-term average to its lowest level in over three-and-a-half years in November, data from statistics agency Insee showed. The monthly reading dropped to 92 from 95, while economists were expecting only a one-point decline.

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Insee’s report showed sharp declines in households’ assessment of their capacity to make significant purchases or make savings in the future.
The report also showed a slump in expectations of future living standards, a spike in unemployment expectations and an increase in consumers’ evaluation of inflation.