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Macroeconomic outlook report: France

First quarter of 2019

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.

 

Macroeconomic Overview

  • During the first quarter of the year, the French economy increased its year-over-year growth rate by 0.02 p.p. with respect to the previous quarter, registering a rate of 1.18%.
  • This was due to the acceleration of the domestic demand, after a higher growth in private consumption, public consumption and investment. However, external demand contributed negatively to GDP growth.
  • Regarding the labor market, the unemployment rate decreased 0.10 p.p. with respect to the last quarter reaching a rate of 8.70%; while the y/y growth rate of employment decreased by 0.23 p.p., standing at 0.31%.
  • 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.
  • Inflation registered a rate of 1.20% in the first quarter of 2019, 0.70 p.p. below the rate registered in the previous quarter.

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© GMS Management Solutions, S.L., 2019. 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.