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French business sentiment remains stable in December

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French business sentiment remains stable in December

France's business climate remained steady in December as all sectors stayed above the long-term mean, data from the country's National Institute of Statistics and Economic Studies showed.

The French composite business climate indicator registered a reading of 106 in December, unchanged from last month's upwardly revised reading, and higher than its long-term mean of 100. The business climate indicator for the manufacturing sector stayed at 102, the same as an upwardly revised reading in November, and exceeded the consensus estimate from economists polled by Econoday for 100.

The indicator for retail trade rose to 108 from 106, while the construction indicator stayed at 111. The indicator for services improved by one point to 107.

Meanwhile, the employment climate indicator deteriorated to 106 from 107, mainly due to a fall in expected employment in the services sector.