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“Spectacular rebound” in growth, which reaches 7% in 2021 – Economy
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“Spectacular rebound” in growth, which reaches 7% in 2021 – Economy
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The growth of the French gross domestic product (GDP) reached 7% in 2021, a jump not seen for 52 years, but which comes after the record recession of 2020 (-8%), according to a first estimate published this Friday by the Insee.

With a fourth quarter of 2021 which saw growth of 0.7%, activity “now clearly exceeds” its level before the health crisis at the end of the year, underlines the National Institute of Statistics.

“Strong reaction capacity”

The Minister of the Economy, Bruno Le Maire, spoke this Friday morning of a “spectacular rebound” which “erases the economic crisis”. “In the fourth quarter, the French economy exceeded the wealth it had in 2019 and returned to its pre-crisis level,” the Minister of Economy and Finance said on France 2. “The French economy running at full speed and it has a strong reaction capacity,” he said.

The performance of the French economy, which promises to be one of the strongest in the euro zone, surpasses the forecast of INSEE and the Banque de France, which forecast growth of 6.7% for the year. last. This is due in particular to an upward revision of 0.1 point in GDP growth during each of the first three quarters of the year, details INSEE.

However, over the whole of 2021, GDP remains “1.6% below its average level in 2019”, adds the institute, a sign that 2021 does not completely mark a return to normal for the economy. , the first part of the year having again been marked by major health restrictions linked to the covid-19 epidemic.

Strong growth in the production of goods and services

In 2021, growth was particularly driven by the sharp increase in the production of goods and services (+7.4%, after -8.5% in 2020), even if the production of goods “remains significantly down” compared to compared to its average level of 2019.

Household consumption, penalized in the first half by health restrictions, did not return to its pre-crisis level until the very end of the year, and recorded an increase of 4.8% overall. of 2021 (-7.2% in 2020). But over 2021 as a whole, it remains below its average level for 2019.

Investment by households (real estate, etc.), businesses and communities, rebounding by 11.6%, far exceeded its 2019 level.

Finally, foreign trade contributes slightly positively to growth, even if on average annual “exports and imports remain in 2021 at a particularly degraded level, respectively 8.5% and 5.5% lower than their average level of 2019 “.

“Spectacular rebound” in growth, which reaches 7% in 2021 – Economy
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