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    Edition December 13, 2017

    India: Contributions to growth

    Growth came out at 6.3% yoy in Q3. It had slowed to 5.7% in Q2, its lowest level in three and a half years.

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Keep abreast of the latest economic graphics commented by Credit Agricole economists

  • Edition November 10, 2017 EMU growth supportive factors

    Despite the downward revision to our forecast, the uptrend in the oil price is progressively weakening a European growth driver but is reinforcing the overall cycle by promoting the recovery of oil producers. The Fiscal momentum is still positive, while the extremely accommodative monetary stance remains a vital (while dwindling) support factor. Positive euro support in the past has now become a headwind.

    EMU growth supportive factors


  • Edition November 9, 2017 Saudi Arabia: GDP and current account

    GDP shrank by 1% in Q2 2017, after a recessionary Q1 of 0.5% (y/y). According to the latest estimates, 2017 as a whole should see a slight, 0.5% recession, followed by a slightly better 2018 in terms of activity, with GDP growth possibly above 1%.

    Saudi Arabia: GDP and current account


  • Edition October 2017 Germany: a more fragmented Bundestag

    The CDU / CSU and the SPD came out of the general election weaker, while the "small parties" gained ground. The extreme right-wing AfD party has entered Parliament after making significant progress in votes and the liberals of the FDP become crucial to form a coalition.

    Germany: a more fragmented Bundestag


  • Edition 24 October 2017 France: GDP QoQ growth and contributions

    The GDP growth figure confirms the Q2 pick-up in growth (+0.5% over the quarter for the third quarter running). The growth carry-over for 2017 stands at 1.4%. Growth is being fuelled by higher investment (business and household), consumption, and foreign trade, while inventories are having a negative impact.

    France: GDP QoQ growth and contributions


  • Edition October 16, 2017 France: Wages and productivity per capita

    Decentralising negotiations is that wages will move more in line with productivity gains. As was observed in the wake of the 2008 crisis, real wages continued to grow faster than productivity gains, partly due to a labour market where negotiations gave scant regard to businesses, delaying their adjustment to economic conditions.

    France: Wages and productivity per capita



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