French accounts in 2007 - The growth in economic activity conti
In 2007, as in 2006, GDP increased by an annual average of 2.2%, following an increase of 1.9% in 2005. Corrected for the number of working days, however, economic activity is marked by a slight year-on-year downturn: it increased by 2.1% after a 2.4% increase in 2006. Domestic demand remains the driving force behind French growth: consumption remains solid and investment dynamic. However, the slowdown in exports is hindering growth while imports are relatively dynamic. Household purchasing power gained in strength and their savings ratio increased. The margin rate for non-financial companies increased gradually, while their activity fell. The level of tax and social security deductions fell significantly and the public deficit increased.