French housing starts dropped 14.4% y/y in the three months to November, a further acceleration in the rate of decline compared to the average drop of 12.7% y/y in the 12 months to November. Housing permits declined 13.7% y/y in the three months to November, a slight improvement fro the 17.1% y/y drop in the last 12 months. All in all though a dismal picture, that highlights the extent of the slowdown in the French housing sector and points to ongoing contstruction weakness, which is also having an impact on the labour market.
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