PARIS (Reuters) - French consumer confidence remained stable at 98 points in November, staying at its highest level in more than nine years that had already been reached in the previous month, the official INSEE statistics agency said on Friday.
A Reuters poll of 12 economists had an average forecast of 98. The highest forecast was 99 and the lowest was 97.
Households' concerns about unemployment fell sharply in November, Insee said, with the sub-index dropping by 11 points to below its long-term average.
The brighter outlook comes after the French jobless tally fell for two consecutive months to a two-year low, giving support to President Francois Hollande's pledge to turn the labour market around.
The index, which is not closely correlated to consumer spending trends, hit an all-time low in May and June 2013 of 79. The highest level since the survey was conducted on a monthly basis was 125 in January 2001.
- For more details and a breakdown from INSEE: http://www.insee.fr/en/themes/info-rapide.asp?id=20
- For a graphic: http://link.reuters.com/pef35s