As national restrictions to fight the COVID-19 pandemic crisis were progressively lifted in 2021, France experienced positive economic growth throughout the year. In 2021-Q4, GDP grew by a low 0.71 percent relative to 2021-Q3, and a high 5.41 percent relative to 2020-Q4. The national unemployment rate was still relatively high at 7.33 percent, slightly lower than both in the previous quarter of the same year and in the same quarter of the previous year. Prices increased by 0.77 percent relative to the previous quarter and by 2.72 percent relative to the same period of the previous year. According to the OECD economic outlook, GDP is expected to continuously grow and to stabilize at an annual growth rate of about 3.5 percent towards the end of 2022. Unemployment will decrease only slightly throughout 2022, while inflation will stabilize at around 1.5 percent in 2023.

April 2022