M&C: German, French consumer confidence holds up despite slump - by Andrew McCathie

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German, French consumer confidence holds up despite slump

German, French consumer confidence holds up despite slump - - by Andrew McCathie

European consumer confidence continues to hold up in the face of deepening global gloom, key surveys released Wednesday said, as dwindling inflation helped to offset worries about the fallout from the worst economic downturn since World War II. The surveys showed consumer confidence in both Germany and France beating analysts' expectations as the 16-member eurozone's two biggest economies entered the new year. Indeed, while the Paris-based statistics office Insee said French consumer confidence rose to 9 month high this month, the Nuremberg-based GfK marketing institute said its forward-looking consumer confidence index came in at 2.2 points in February. This was higher than the 2 points predicted by economists.