French consumer confidence was recovered slightly in November, the National Institute for Statistics and Economic Studies (INSEE) reported yesterday.

INSEE data showed consumer confidence rose to minus 43 in November from minus 46 in October, better than the reading of minus 49 expected by economists.

Households' view on opportunities of making major purchases was almost stable, but they were more worried about future unemployment with outlook for unemployment rising to 74 points in November against 68 in October. Personal financial situation outlook moved up to minus 19 from minus 22, while business confidence fell to 80 in November from 87 in October, which was considered as the lowest since September 1993.

According to INSEE, French consumer confidence is currently at its lowest since 1972. Consumer confidence in the country peaked at minus 13 in June 2007, the highest reading since 2003.