* Obama says full economic recovery is still a way off

* U.S. consumers in early July in worst mood since March

* French, Italian industry data better than expected

* South Korea growth improves; India output tops forecasts

* Japanese wholesale prices slump, deflation grips

* U.S. stocks end week lower (For more on the financial crisis, click on [nCRISIS])

By Eric Walsh

WASHINGTON, July 10 (Reuters) - The global economic outlook appeared mixed on Friday, with promising data from parts of Europe and Asia offset by a drop in U.S. consumer sentiment, deflation in Japan and a warning from U.S. President Barack Obama that full recovery was still a way off.

Evidence began emerging earlier this year that the world's worst recession since World War Two might be bottoming out, and heartening data from France, Italy, South Korea and India suggest an upturn may not be far away.