French business morale hits five-month low on new lockdown

French business confidence dropped in November to a five-month low as the country entered a new coronavirus lockdown, hitting the services sector particularly hard, a survey showed on Tuesday. INSEE, the official stats agency, said its monthly business climate index fell to 79 from 92 in October, the lowest reading since June, when France was still emerging from its first lockdown. French President Emmanuel Macron is due to announce on Tuesday evening a relaxation of the second lockdown following a decline in new case numbers since it was imposed on Oct. 30.