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French consumer confidence slumps to 20-year low point: official



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PARIS, July 29, 2008 (AFP) - French consumers turned even gloomier in July when various measures of how they feel about living standards hit the lowest level since 1987, official data showed on Tuesday.

The INSEE statistics institute said that its adjusted indicator of household confidence had fallen by two points from the June level to minus 48, showing the 13th monthly fall in a row.

At Asteres consultants, economist Nicolas Bouzou said the data reflected past increases in prices which weighed on buying power.

The data was published amid one of the high points of the year for French families year, the mass departure on summer holidays.



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