During the first quarter of 2019, France’s GDP registered a year-over-year growth rate of 1.18%, 0.02 p.p. higher than the one from the previous quarter. The main driver of the performance of GDP in 1Q19 was the acceleration of the domestic demand, offsetting the performance of the external sector. Regarding the labor market, the unemployment rate decreased by 0.10 p.p. with respect to the fourth quarter of the year, reaching 8.70%, while the y/y growth rate of employment fell to 0.31%. For its part, inflation registered a 1.20% rate, after a deceleration of 0.70 p.p. when compared to the previous quarter. The euro kept at the same level against the US dollar, reaching an exchange rate of 1.14 $/€, which was the same exchange rate than the registered in 4Q18.
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