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French consumers more pessimistic

French consumers more pessimistic
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French consumer confidence worsened in June amid growing concerns about future living standards.

The figures are a sign that government deficit-cutting measures are taking their toll on public sentiment and threatening growth.

Consumer spending is key to French economic growth, so the data adds to concerns the recovery may falter as the government steps up measures to tackle its deficit.

France recently announced reforms to its heavily indebted pension system, which last week brought hundreds of thousands of people onto the streets in protest.

The government has also said it will freeze public spending over the next three years, and further fiscal tightening measures are likely to be spelled out in the 2011 budget in September, adding to consumer uncertainties.

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