Greater Paris Area Q4 2019 Market Report
Though the risks of a recession and a trade war seem to be rescinding, the international geopolitical climate remains under pressure. Both growing tensions in the Middle East stemming from the upcoming U.S. 2020 election and Brexit contribute to the continued uncertainty of global politics. The global gross domestic product (GDP) growth should be at its lowest level since the last financial crisis with a 2,9% increase in both 2019 and 2020 compared to 3,5% recorded in 2018. Prospects for growth in the European market remain at a much more modest.
Despite its moderate economic growth, France keeps resisting this global trend. The French GDP reached 1,3% in 2019, down from 1,7% the previous year. This slowdown is expected to last into 2020 (+1,1%), but we expect to see the unemployment rate drop below 8% by the end of 2022.
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