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Macroeconomic projections

In order to contribute to the national and European economic debate, the Banque de France periodically publishes macroeconomic forecasts for France, constructed as part of the Eurosystem projection exercise and covering the current and two forthcoming years. Each publication comprises a summary of the projections. Some also include an in-depth analysis of the results, along with focus articles on topics of interest.

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December

Publication Economic projections
Macroeconomic projections – December 2019

▪ French GDP growth is expected to be confirmed at 1.3% in 2019. It should then ease temporarily to 1.1% in 2020 before strengthening again to 1.3% in 2021 and 2022. Against this backdrop, the unemployment rate should continue to decline, falling to...

By Cancé Raphaël, Castelletti-Font Barbara, Cochard Marion, Kalantzis Yannick, Levy-Rueff Guy, Lor-Lhommet Emilie, Ouvrard Jean-François, Perillaud Simon, Rouvreau Béatrice, Sabalot Paul, Schmidt Katja, Thubin Camille, Turunen Harri, Wolf Clara, Vertier Paul, Vu Thao, Zhutova Anastasia
  • Published on 12/16/2019
  • 12 pages
  • EN
  • PDF (5.91 MB)
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September

Publication Economic projections
Macroeconomic projections - September 2019

▪ French GDP growth should remain resilient at 1.3% in 2019 and 2020 and 1.4% in 2021. Our projection is largely unchanged since that of June, due to several offsetting factors. ...

  • Published on 09/17/2019
  • 9 pages
  • EN
  • PDF (4.67 MB)
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June

Publication Economic projections
Macroeconomic projections – June 2019

▪ French GDP should expand by 1.3% in 2019 and by 1.4% in 2020 and 2021. This pace of growth should allow the unemployment rate to fall gradually, reaching 8.1% in 2021. ...

  • Published on 06/11/2019
  • 10 pages
  • EN
  • PDF (450.94 KB)
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March

Publication Economic projections
Macroeconomic projections - March 2019

▪ French GDP should grow by around 1.4-1.5% per year between 2019 and 2021. This growth rate, which has been slightly revised since our December 2018 projections, should lead to a gradual fall in unemployment to 8% in 2021. ...

  • Published on 03/15/2019
  • 9 pages
  • EN
  • PDF (389.93 KB)
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