Growth in the 2 nd quarter ended in France in line with the forecasts and results for the first quarter (+0.3%). This is also what economists expect for the 3rd and 4th quarters, with growth estimated at 1.3% at the end of the year, driven mainly by domestic demand. This corresponds to a decline of -40 bps compared to 2018 and 110 bps compared to the exceptional performance in 2017. At the same time, employee job creation continued to expand, albeit at a more modest pace in the second quarter (+0.2% vs. +0.4% in the first quarter). This slight slowdown, visible in all sectors of activity, helped to reduce the unemployment rate by 0.2 points in the second quarter to reach 8.2% in June 2019, a level not seen in 10 years.
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Cushman & Wakefield: France Retail Snapshot (Q3, 2019)
Published By: Cushman & Wakefield