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French Consumer Morale Slides after Strikes

French consumer confidence dropped more sharply than expected in November, after a month of strikes that underlined growing worries about purchasing power and the cost of living, data on Thursday showed.

Statistics office INSEE said its monthly barometer of household morale dipped to -28, from a revised drop of -23 the month before, compared with a consensus forecast of -24.

The report comes at the end of a month marked by a nine-day rail strike, a separate walkout by civil servants over pay and conditions and a renewed flare up of rioting in the disadvantaged suburbs near Paris.