Economic data released so far this year has strengthened our belief in improved GDP growth prospects...
Economic data released so far this year has strengthened our belief in improved GDP growth prospects and a benign inflationary environment. The growth perspective has in recent months received a tremendous boost from rapidly declining unemployment figures - in France the rate of unemployment has dropped to 10.2% from a 1997 peak of 12.6%. This development, allied to the well documented upturn in capital expenditure and export growth, possibly renders our previous GDP growth forecast for the full year conservative. Against the background of robust growth expectations, however, the outl...
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