Conjoncture Flash May 2017

Domestic paid employment picked up in late 2016, up 3.3% over one year in the 4th quarter. Unemployment benefited from this momentum and continued to fall, dropping to 6.0% of the working population in April 2017, up from 6.2% at the turn of the year. All sectors are benefiting from the recovery and job vacancies remain at historically high levels.

• Construction: More projects – but smaller

• Consumption: New car registrations lagging behind

• Financial sector 1/2: Insurance - more favourable signals

• Financial sector 2/2: Loans - more flexibility for households than for businesses

• Public finances: Upturn in “oil” excise duties

• Inflation: Oil - temporary upward impact on inflation

• International: United Kingdom - consumption stumbles