Economic growth in the Eurozone continued to benefit from the low interest rate environment combined with weaker oil price, thus boosting consumption. Nonetheless, GDP growth has been revised slightly downwards to 1.3% in 2016 and 1.4% in 2017, as exports could be dampened by stronger EUR and global slowdown in emerging markets. Meanwhile, employment growth should remain limited; however the unemployment rate is still likely to see further falls. There is a mixed picture across European countries. The prospects for job creation stay positive in Spain, Ireland and Luxembourg at over 2%, whereas it should remain below the 1% threshold in France or Italy.
Source : BNP Paribas Real Estate