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French business sentiment inches up to 10-year high

The sentiment among French businesses hit a 10-year high in December as the business climate composite indicator advanced 1 point to 112 from November, data from the National Institute of Statistics and Economic Studies showed.

The gain reflected a 2-point rise in both construction and services sector business climates, partially weighed down by a 1-point drop in manufacturing and retail, from the month before.

The construction sector's index stood at 109, its highest level since September 2008, while the services figure of 111 was its highest since April 2011. The climate indexes for manufacturing and retail sectors were at 112 and 115, respectively.

Meanwhile, the employment climate remained stable at the previous month's revised level of 108.