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French business sentiment ticks down in January

France's business climate index ticked down in January 2020 from December 2019 as the employment climate deteriorated, data from the country's National Institute of Statistics and Economic Studies showed.

The composite business climate index registered a reading of 104 in January, down from the prior month's downwardly revised reading of 105, but higher than its long-term mean of 100. The manufacturing sector rose to 100, higher than a downwardly revised reading of 98, but lower than the consensus estimate of economists polled by Econoday for a 101 print.

The indicator for retail trade declined to 104 from 108, while indicators for building construction and services were unchanged at 111 and 107, respectively.

Meanwhile, the employment indicator deteriorated to 105 from an upwardly revised 107, mainly due to a fall in expected employment in the services sector.