The French economy is beating expectations, while that of Germany is weakening.

France is preparing for a presidential election in April, and President Emmanuel Macron is in a murderous campaign for a second five-year...


France is preparing for a presidential election in April, and President Emmanuel Macron is in a murderous campaign for a second five-year term. His government has kept only minimal pandemic restrictions in place and instead encouraged people to get vaccinated in a bid to keep the country’s economy open.

But economists have warned against excessive exuberance, warning of the challenges posed by the lingering effects of the pandemic.

“The shock in France in 2020 was stronger than the European average, and the French economic recovery in 2021 was in turn much more dynamic than the average recovery in Europe”, writes Charlotte de Montpellier, economist at ING, in a research note. “Nevertheless, the global imbalances generated by the pandemic, particularly in terms of prices, are now being felt, and overcoming their effects will be a complicated and important challenge for the recovery of the coming quarters.”

The latest push of the Omicron variant in Germany served as an example of this imbalance when the government enacted more restrictions ahead of the year-end shopping season. People entering stores had to show proof of vaccination and holiday markets were closed. These measures have dampened consumer spending, which contributed to the contraction of 0.7% in the last quarter of 2021, according to data published by the Federal Statistical Office.

Overall, the German economy grew 2.8% in 2021, slightly above the 2.7% expected by officials. But it was still hampered by persistent bottlenecks in supply chains, particularly in the country’s auto industry, where domestic production fell 12% last year from 2019 to 3, 1 million vehicles.

Some economists expect Germany to struggle in the first quarter of 2022. Others predict sluggish growth potential, provided supply chains loosen enough to allow manufacturers to start filling their books. of orders.

This week, the German government cut its forecast for annual growth to 3.6%, down from a forecast of 4.1% made at the end of October. Robert Habeck, the new economy minister, warned that “the consequences of the coronavirus pandemic are still being felt, and many companies are struggling with this”.

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Newsrust - US Top News: The French economy is beating expectations, while that of Germany is weakening.
The French economy is beating expectations, while that of Germany is weakening.
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