Natixis - Pourquoi chaque récession entraîne-t-elle une désindustrialisation ?

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Natixis

Patrick Artus

Pourquoi chaque récession entraîne-t-elle une désindustrialisation ?

Mondialement, ou dans les pays de l’OCDE, ou dans la zone euro, chaque récession entraîne une nouvelle vague de désindustrialisation depuis la récession de 2000-2001. Pourquoi ? Nous voyons deux explications : les récessions conduisent à une perte de croissance potentielle, donc à un moindre besoin d’investissement, donc à la baisse de la production de biens d’équipement ; les récessions conduisent au désendettement des ménages et des entreprises, d’où, pour les entreprises le recul de l’investissement ; pour les ménages, le recul des achats de voitures, des achats de logements (donc de la production industrielle liée à la construction de logements).

20/09/2020 5 FR

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Natixis

Based across the world’s leading financial centers, Natixis CIB Research offers an integrated view of the markets. The team provides support to inform Natixis clients’ investment and hedging decisions across all asset classes.

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Analysts

Patrick Artus

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Pourquoi chaque récession entraîne-t-elle une désindustrialisation ?

Long Bono 01/41 vs. Short Bund 05/41

Overview of the Asian covered bond market

Consolidation after the euphoria?

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