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Macroeconomic outlook report: France

Third quarter of 2019

During the third quarter of 2019, France’s GDP registered a year-over-year growth rate of 1.35%, which was lower than the one from the previous quarter. Regarding the labor market, the unemployment rate increased with respect to the second quarter of the year, reaching 8.30%, while the employment creation growth rate went down when compared to 2Q19, to a rate of -0.33%. For its part, inflation registered a 1.00% rate, after a deceleration when compared to the previous quarter. The euro depreciated against the dollar, reaching an exchange rate of 1.11 $/€.

Macroeconomic Overview

  • During the third quarter of the year, the French economy decreased its year-over-year growth rate by 0.07 p.p. with respect to the previous quarter, registering a rate of 1.35%.
  • This was due to the deceleration of the private consumption and the poor performance of the external demand. On the other hand, the domestic demand grew at a higher rate than the past quarter as a consequence of the rise of public consumption and investment.
  • Regarding the labor market, the unemployment rate increased 0.10 p.p. with respect to the last quarter reaching a rate of 8.30%; while the y/y growth rate of employment decreased by 0.61 p.p., standing at -0.33%.
  • The euro depreciated against the dollar, reaching an exchange rate of 1.11 $/€ which was 0.02 p.p. lower than during 2Q19.
  • Inflation registered a 1.00% rate, after a deceleration of 0.13 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.