Insee Première · May 2026 · n° 2105

National French account in 2025 GDP growth slowed and household purchasing power declined

In 2025, economic activity slowed: GDP (in volume terms, not adjusted for working days) grew by 0.8%, following a growth of 1.5% in 2024. Growth in the French economy was driven by domestic demand and a restocking trend. Household consumption slowed whilst investment picked up slightly. Conversely, foreign trade made a negative contribution to GDP growth of -0.2 percentage points, having strongly supported it in 2023 and 2024.

The purchasing power of households’ gross disposable income per consumption unit fell by 0.7% after rising by 2.2%, mainly due to a sharp decline in dividends paid to households, a rebound from the surge recorded in 2024. The profit margin of non‑financial companies fell by 0.5 percentage points to 32.2%. The nation’s net borrowing requirement reached 0.3% of GDP in 2025 (€8.0 billion) due to a slight deterioration in the balance of trade.