Our Navigator research provides you with valuable insights and opinions from businesses around the world. As part of that research, we asked more than 10,000 business decision-makers across 39 markets, countries and territories to tell us how the current crisis has affected them and changed their plans for the near to mid-term future.
A long national lockdown hit France hard, but after it ended in May the economy rebounded more than expected. Consumer spending on goods, along with industrial production and construction, recovered significantly, though growth has since slowed as COVID-19 has regained hold. A week before our 2020 Navigator survey launched, the government unveiled a fourth fiscal package (€100bn) focused on boosting growth supply-side in 2021 and 2022. But unless businesses shed their caution about investing or creating jobs, recovery will be gradual.
The past year has taken its toll on French companies. Around a third have become more pessimistic, higher than globally and in Europe. Expectations of future growth have also fallen.
Yet despite this, and in line with global findings, the bulk of businesses are adapting to the changing environment. And seven in ten say they will have recovered to pre-COVID levels of profitability by the end of 2022.
Trade with Europe and North America is on the up, though there are fears over what further waves of the virus would mean for domestic and international trade.
French companies, like globally, have concerns about their supply chains, with the majority now prioritising finding suppliers closer to their customers.
Close to three-quarters of businesses have set sustainability targets, up on 2019.
|Adapting to a changing environment||61%||58%|
|Thriving in the new normal||21%||24%|