French consumer confidence hits highest level since Macron took office

French consumer sentiment rose unexpectedly in November to its highest level since the start of Emmanuel Macron's presidency as unemployment concerns receded, official data showed on Wednesday.

The INSEE official statistics survey said its household confidence index rose to 106 from 104 in October, smashing economists' expectations for a pull-back to 103 in a Reuters poll.

That brought the index to its highest level since surging to a 10-year high of 108 in June 2017 following Macron's election the previous month on promises to modernise the economy with a pro-business reform agenda. INSEE said that households' concerns about unemployment fell in November to the lowest point since August 2017.