France: croissance austère

Eric Heyer, Christophe Blot (), Marion Cochard (), Hervé Péléraux () and Mathieu Plane
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Christophe Blot: OFCE - Observatoire français des conjonctures économiques (Sciences Po) - Sciences Po - Sciences Po
Hervé Péléraux: OFCE - Observatoire français des conjonctures économiques (Sciences Po) - Sciences Po - Sciences Po

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Abstract: In 2010, the French economy had a modest growth (1.5%) allowing creating new jobs in the business sector, after two years of heavy destruction. In 2011 and 2012, the growth will face a double shock. The first one is budgetary: from 2011 all the major developed countries will implement restrictive fiscal policies while their economies are still convalescing. The generalization of this strategy will constitute a powerful brake on economic growth. The second shock is linked to inflation with the strong increase of commodities prices, reducing household 's purchasing power. The French economy should grow by an annual average of 1.4% in 2011 and 1.7% in 2012. The unemployment rate would increase slightly to 9.5% in late 2012. The government deficit would reach 5.2% in 2012.

Keywords: Croissance; Marché du travail (search for similar items in EconPapers)
Date: 2011-04
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Published in Revue de l'OFCE, 2011, 117, pp.91 - 157. ⟨10.3917/reof.117.0091⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-03476049

DOI: 10.3917/reof.117.0091

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