On and near the Champ Elysees in Paris, retailers expecting an influx of customers in the busy Christmas season had to close and board up their shop windows to guard against vandalism. Paris, a popular destination for international tourists, resembled a ghost town.

The French Retail Federation reported that traders in all sectors had lost some 1 billion euros since the protests started on Nov 17.

French media quoted Francois Asselin, head of the Confederation of Small and Medium-sized Enterprises, as saying that the protests could cost his members $10 billion.

On Dec 10, Macron made further concessions in a televised speech watched by 23 million people. He pledged a rise of 100 euros a month in the minimum wage and the abolition of an overtime tax, as well as excluding pensioners from a rise in social charges, known as CSG.

Macron, who became the youngest president in French history in May 2017 at age 39, told the nation he had heard and understood the protesters. He described their "anger and indignation" as "deep and in many ways legitimate".

He also acknowledged that he had not been able to find solutions quickly enough since being elected. "I may have given you the impression that this was not my concern, that I had other priorities. I take my share of responsibility. I know I have hurt some of you with my words," he said.

According to French media, Macron was referring to his perceived disdain for the working class. In June, he described welfare spending as "crazy money", and in September, he told a young jobless gardener that it should be easy to find another job, adding, "Honestly, hotels, cafes and restaurants-if I walk across the street, I will find you something."