www.eulerhermes.com The Economic Outlook is published once amonth by the Economic Research Department of Euler Hermes 1, place des Saisons 92048 Paris La Défense Cédex E-mail: research@eulerhermes.com– Tel. : +33 (0) 1 84 11 50 46
www.eulerhermes.com Euler Hermes Economic Outlook Global sectors review is published twice a year by the Economic Research Department of Euler Hermes 1, rue Euler, 75008 Paris, France – Tel.: + 33 (0) 1 40 70 53 77
This document reflects the opinion of the Economic Research Department of Euler Hermes. The information, analyses and forecasts contained herein are based on the Department's current hypotheses and viewpoints and are of a prospective nature. In this regard, the Economic Research Department of Euler Hermes has no responsibility for the consequences hereof and no liability.Moreover, these analyses are subject tomodification at any time.
This document reflects the opinion of theMarketManagement, Strategic and Economic Studies Department of Euler Hermes. The information, analyses and forecasts contained herein are based on the Department's current hypotheses and viewpoints and are of a prospective nature. In this regard, the MarketManagement, Strategic and Economic Studies Department of Euler Hermes has no responsibility for the consequences hereof and no liability.Moreover, these analyses are subject tomodification at any time.