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LET'S TALK RETAIL- 15/11/16

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Let's Talk Retail MAPIC 2016

EUROZONE: A WEAK ECONOMIC RECOVERY

Though not unfavourable for European growth, the world economic environment is suffering some ggvguncertainties. Granted,the global situation is bound to pick up in 2017 (3.3% vs. 3%).GDP growth in the Euro zone should reach 1.5% in 2016 given that Brexit should impact 2017 and essentially the United-Kingdom. All in all, in 2017, GDP growth is expected close to 1% for the Eurozone (vs. 1.3% expected before the UK referendum) and around 0.7% in the UK (vs. 2.1% previously forecasted). The latter should be slightly revised upward due to the resilience UK showed during Q3.The steady domestic demand remains driven by oil prices and low inflation. GDP is still improving in most European countries, particularly in Spain

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