Report
What accounts for the good health of French companies?
The data on French companies’ h iring, bankruptc ies , earnings and net debt show that they were in good health in the first half of 2021, when there were fears of a sharp deterioration in their situation in the wake of the COVID crisis. What accounts for the good health of French companies? At first glance, it could be a result of: Government support and tax cuts; A rapid recovery in production; Low real wage growth relative to productivity gains, which could be due to either low growth in nominal wages, price increases or productivity growth. We find that the public transfer payments and low wage growth relative to productivity have played significant roles.
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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.
Patrick Artus
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