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Macroeconomic outlook report: France

Fourth quarter of 2019

During the fourth quarter of 2019, France’s GDP registered a year-over-year growth rate of 0.92%, decreasing with respect to the previous quarter. The main drivers of the performance of GDP in 4Q19 were the decelerations registered in both the internal and external demand. Regarding the labor market, the unemployment rate decreased with respect to the third quarter of the year, down to 8.10%, while the employment growth rate increased when compared to 3Q19, up to 0.04%. On the other hand, inflation registered a 1.10% rate, after an acceleration when compared to the previous quarter. The euro remained constant against the dollar, reaching an exchange rate of 1.11 $/€ during the fourth quarter.

Macroeconomic Overview

  • During the fourth quarter of the year, the French economy decreased its year-over-year growth rate by 0.56 p.p. with respect to the previous quarter, registering a rate of 0.92%.
  • This was due to the deceleration of the domestic demand and the poor performance of the external demand.
  • Regarding the labor market, the unemployment rate decreased 0.40 p.p. with respect to the previous quarter reaching a rate of 8.10%; while the y/y growth rate of employment increased by 0.60 p.p., standing at 0.04%.
  • The euro remained stable against the dollar, standing at an exchange rate of 1.11 $/€ during the fourth quarter.
  • Inflation registered a 1.10% rate, after an acceleration of 0.10 p.p. when compared to the previous quarter.

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© GMS Management Solutions, S.L., 2020. All rights reserved. The information contained on this publication is of a general nature and does not constitute a professional opinion or an advisory service. The data used in this publication come from public sources. GMS Management Solutions, SL assumes no liability for the veracity or accuracy of such data.