france economy

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Name: Instructor: Course: Date of Submission : France Economy Introduction According to 2015 OECD global index, France economy is seventh largest globally, and the second in the Euro zone. The report showed that the economy over the recent years has been on turbulence due to the rising global financial crisis in the world, the recent terror attacks, political instability and competition from the emerging economies such as China, India, Brazil and the Tiger Asian countries (OECD, pg 10a). It is notable that the economy of France has been much affected mostly from the period between 2008 to 2016 compared to the period 2000 to 2007 (pg 14b). GDP annual growth rate According to 2014 OECD statistics, 10 years before the 2009 economic crisis (2000 to 2008) the GDP annual growth was 2.0 on average (OECD, pg 19b). With a favour of only external trade and private consumption rates which were stable, the country was able to manage an average GDP of 2.9 percent in 2009. Analysts have been seeing this recovery as slow since the economy has been dwindling since 2009, with an average of economic growth of 1.1 percent every year from 2009 to 2013. In 2014 the economy of France was in stagnation with an expanding meager of only 0.4 percent in 2014 (OECD pg 22a). Private Consumption It is good to note that, private consumption has been traditionally major driver of economic recovery and growth in France and it was able to restrain the economic crisis of 2009. Over the period of two decades, and for the first time, however, private consumption failed to protect the economy of France in 2012. This was after the crisis, along with high levels of consumer confidence that

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