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MNI: FRANCE DATA: Trade Balance (Apr 2019) Review....>

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MNI: FRANCE DATA: Trade Balance (Apr 2019) Review
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- Trade Bal: -EUR5.0bn; Exports: -1.9% m/m, 5.7% y/y; Imports: -2.7% m/m, 5.5%
y/y
- The French trade deficit narrowed by EUR0.5bn in Apr
- Exports fell back after rising for two consecutive months
- Imports also declined, outpacing the drop in exports, albeit following strong
growth of 3.6% m/m in Mar 
- Improving labour market conditions and fiscal easing measures should support
household spending on imports going forward
- The outlook for external demand is more subdued, with renewed trade tensions
and a number of geopolitical uncertainties continuing to weigh on global trade
flows 
- As such, net trade could remain a drag on GDP growth in Q2, after subtracting
0.3pp from quarterly growth in Q1

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