During the first quarter of 2018, France’s GDP registered a year-over-year growth rate of 2.19%, 0.63 p.p. lower than to the previous quarter. The main driver of this quarterly deceleration was the lower growth of domestic demand, especially due to the reduction of gross fixed capital formation. Regarding the labor market, the unemployment rate increased by 0.20 p.p. with respect to the fourth quarter of the year, reaching 9.20%, while the growth rate of employment rose to 0.97%. The euro appreciated against the dollar, registering an exchange rate of 1.23 $/€. Finally, inflation registered a 1.37% rate.
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