French official consumer confidence stable in April

27th April 2011, Comments 0 comments

French consumer confidence held steady in April but remains well below its long-term average, official data showed on Wednesday, with inflation and jobs prime concerns.

The INSEE statistics institute said the April reading of consumer confidence remained at 83, or 17 points below its long-term average.

"It is a particularly weak figure," commented economist Alexander Law of the Xerfi consultancy, given the French economy was in fact growing.

The monthly survey found French consumers remain very concerned in April about inflation and were even more sceptical about their future and increasingly worried about the possibility of losing their job.

Industrial confidence was steady in April at 110 points, INSEE reported last week.

© 2011 AFP

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