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Retail

French Consumer Confidence Holds At Year And A Half High

French consumer confidence levels in August held at their highest levels in a year and a half, official data showed on Tuesday, while a measure of confidence within French industry rose slightly.

The INSEE national statistics office said consumer confidence in August stood at 102 points, unchanged from the July level which was the highest reading in a year and a half.

The measure of industrial confidence in France, which is the euro zone's second-biggest economy, edged up to 102 points in August from 101 in July.

Retail Confidence

However, the business climate has worsened with regard to the retail trade, INSEE found, with the composite indicator for the sector dropping four points to 101, just above its long-term average (100).

This decrease is mainly concentrated in non-specialised retail trade, INSEE said.

According to the group, retail managers have reduced their staff numbers over the past three months, while further declines are anticipated. Prices have also remained subdued in the sector.

News by Reuters, edited by ESM. Additional reporting by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.

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