French consumers less confident with general economy in June: Insee

09:01, June 30, 2010      

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French consumers showed more pessimism about the general economy in June, with the monthly sentiment indicator declined to minus 39, one point down from May, the national statistics bureau Insee said Tuesday.

The households' sentiment to their personal financial situation in June was stable at minus 25 point since April, but their attitudes toward the general economy deteriorated by 2 points from May, down 19 points from this January, Insee showed in a report.

Worries about a lasting depressed labor market were the major burden over most French families though 2010 first quarter recorded a stable unemployment rate, the report reflected. Official data showed that French jobless rate in the first quarter in whole French territory stood at 9.9 percent of the active population, flat from the previous quarter but higher than ex-peak in 2006's first quarter.

According to Insee, households concerns over inflation remained unchanged from last month, but that over their present financial situation downgraded a little, and thus they generally didn't think it's good time for saving.

The downward trend in French consumer sentiment began from February 2010.

France's first quarter growth was 0.1 percent, too weak to brace consumer's confidence.

However, data from the European Commission showed that eurozone consumer sentiment in June grew by 1 point to minus 17, reflecting more optimistic mood to eurozone general economic situation.

Source: Xinhua


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