French consumer confidence still down in January

31st January 2005, Comments 0 comments

PARIS, Jan 31 (AFP) - Consumer confidence in France remained stuck in the doldrums in January, holding steady from December after three months of declines, a survey by the national statistics office INSEE showed Monday.

PARIS, Jan 31 (AFP) - Consumer confidence in France remained stuck in the doldrums in January, holding steady from December after three months of declines, a survey by the national statistics office INSEE showed Monday.  

A composite indicator of consumer confidence was unchanged in January at minus-25 from December, the monthly survey said.  

The indicator represents the balance in percentage points between consumers having experienced, or expecting, a rise in their living standard and those seeing a decline.  

Economists polled by AFX News, the AFP financial news subsidiary, had been expecting a slight improvement to a reading of minus-24.  

The indicator on consumers' past personal financial situation was minus-19 in January compared with minus-18 a month earlier, while the view of the past French standard of living was minus-58 compared with minus-57 the month before.  

The outlook for personal finances showed a modest improvement, to minus-1 compared with minus-2, while the outlook for the French standard of living stood at minus-33, unchanged from December.  

A bright spot was the indicator of the inclination to buy consumer goods, which rose to minus-12 on the month against minus-15 in December.  

Consumer spending is a major growth factor in the French economy.

© AFP

Subject: French News

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