National economic assets in 2011: up 5%

France's national economic assets totalled €13,620 billion at end-2011, nearly eight times the net domestic product for the year. After their vigorous 8.7% rebound in 2010, they gained 5.0%. This more moderate pace is due to slower growth in land prices and financial-asset holdings. The growth in household assets slowed from 8.1% in 2010 to 4.1% in 2011. As they consist mainly of real-estate assets, their increase was restrained by the slower rise in land prices. Household financial assets posted a mild decline, as debt growth significantly outpaced asset growth. In 2011, households preferred liquid, risk-free instruments (passbook savings accounts) and turned away from life insurance. Non-financial corporations saw the growth in their net worth quicken from 10.7% in 2010 to 16.3% in 2011. Their financial liabilities decreased owing to the loss in value of the equities composing the aggregate. Non-financial corporations are relying more on credit than on equity and bond issues to finance investment and inventory rebuilding. General-government liabilities continued to grow.