French households outlook on future hits record low

The confidence of French households in the country's financial outlook has hit a record low, data released by the national statistics institute showed Friday.

The Insee institute's overall household confidence indicator remained steady at 84 points in April, still well below its long-term average of 100 points.

However the subindex for households' outlook for the general economic situation over the coming year fell by one point to a record minus 62 points.

Their outlook about their own finances also dropped by one point to minus 25 points.

Consumer consumption is a key driver of the French economy, and 0.2 percent dip last year was seen as one of the main reasons the country posted zero growth for the year.