FX.co ★ France Business Climate Hits 4-Month High

France’s overall business climate improved to 97 in July 2026 from 95 in June, its highest level since March, though it remained below the long-term average of 100. The recovery was led by retail trade, where the climate indicator jumped to 99 from 91, driven by a sharp rebound in ordering intentions and in the general business outlook. The services climate also firmed, rising to 98 from 96, with conditions improving across all service branches except information and communication. Manufacturing sentiment inched up to 101 from 100, supported by more positive assessments of past production and global order books. By contrast, wholesale trade sentiment eased to 95, reflecting weaker views on past sales, including exports. The construction climate was stable at 95, as slightly softer expectations for future activity offset better assessments of past activity. Meanwhile, the employment climate held steady at 98, after rebounding in June.