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French Consumer Confidence Drops in May

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Confidence among French consumers has hit its lowest level since July 2008, a survey has indicated.

Consumer confidence fell sharply in May, with the French statistics agency, Insee, saying its monthly consumer morale index dropped by four points to 79, after losing two points in March.

The figure is well below the long-term average of 100.

The survey also showed that French households think the unemployment rate, now at 11%, will continue to rise.

Earlier this month, France passed a range of measures aimed at stopping the rise in unemployment by reforming the country’s labour laws.

These include measures to make it easier for workers to change jobs and for companies to fire employees.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza

@alfonso_forex

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