French economy - Accounts and files2015 Edition
“French economy - Accounts and files” presents every year a summary of the evolutions of French and international economies. Based on national accounts, this book analyses the main events which happened in 2014.
Since the 2008 crisis, households have reduced their purchases of those goods and services that are easiest to cut back on or postpone
The economic recession of 2009 had some long-lasting consequences for consumption expenditure: despite a very small increase in effective consumption (which declined in 2009 for the first time), purchasing power slowed, limiting the rise in consumption expenditure, which even slipped back in 2012. Not all expenditure was affected in the same way, with spending to satisfy basic needs not affected at all. Housing, still the primary item of household expenditure, continued to increase in value due to price rises in rents and energy, while food expenditure by volume and by price was not affected by the crisis. However, some expenditure did suffer from the slowdown in income. This was particularly the case for spending on transport goods and services, driven by the decline in purchases of cars. Households also cut back their spending on clothing and footwear. Spending on leisure, communication and culture also slowed substantially, although still sustained by telecommunications services and products of the information economy. However, consumption in the health and social action sector, where public intervention is strong, continued to grow at a steady pace.