Forecast of future economic development of France became even more uncertain on Tuesday, when gauge of consumer confidence showed that the main growth driver losses pace, Bloomberg writes.

Consumer confidence index for the second largest economy in euro area continued sliding below long-term average value and fell to the lowest level in more than three and a half years in November.

Monthly measure fell from 95 to 92.

Consumption in France already suffered due to protests against gasoline taxes. Large retailers lost 35%, when roads, fuel depots and warehouses were blocked.

Households spending and investment account for about 60% of GDP. This is why lower consumer confidence will hurt growth pace at the end of this year and will disturb government’s plans for deficit reduction. This is also one of the latest warnings for European Central Bank that has to make decision in regards to economic stimulus program this December.

It shall be noted that business confidence in Germany fell for a third month. Data from Italy that will be issued today will show whether this tendency spread over euro area.