During the first quarter of 2020, France’s GDP registered a year-over-year growth rate of -4.99%, after registering a severe decrease with respect to the previous quarter. This behavior follows the trend observed globally as a result of the COVID-19 pandemic and the measures carried out to contain its spread. As for the labor market, the effects of the health crisis are not yet visible; the unemployment rate decreased with respect to the fourth quarter of previous the year, down to 7.60%, while the employment growth rate increased when compared to 4Q19, up to 0.20%. On the other hand, inflation stood at a 1.20% rate, after recording an acceleration when compared to the previous quarter. The euro slightly depreciated against the dollar, reaching an exchange rate of 1.10 $/€ during the first quarter.
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