French consumer confidence improved more than expected in November, reaching its best level since December 2007, data from national statistics office INSEE showed today.
The overall index for November stood at -30, better than a consensus forecast of -34 from economists polled by Reuters.
The October index was revised to -34 from a previously reported -35.
The November figure was the most favourable since December 2007, when it also stood at -30.
It was the fourth consecutive month of improvement in the index.
There was a strong rise in the index measuring whether households believed it was a good time to make important purchases, to -19 in November from -24 in October.
Fears of unemployment decreased, but less markedly. That index improved by only three points, to 62 in November.
Unemployment continues to rise in France. The number of jobseekers jumped by 52,400 in October, a 2 per cent monthly increase, data from the economy ministry showed yesterday.
Data for consumer confidence in the euro zone is due to be published later today.
Reuters