French Consumer Confidence Tanks As Bond Crisis, Far-Left Riots Deepen Gloom
French consumer confidence cratered to its lowest level in 13 years as a bond market selloff that sent yields soaring, weeks of social unrest sparked by far-left groups, and political instability all collided at once, casting a dark economic cloud over the European country.
Bloomberg Economics commented on the dire outlook, saying, “Weak sentiment is likely to weigh on spending as political uncertainty increases. This brings further downside risks to our fourth-quarter growth forecast.”