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After nearly two years of disruptions caused by the COVID-19 pandemic, business leaders in France have a bright outlook on the year ahead. Our 2022 Business Leaders Outlook: France survey of French companies with revenues between €20 million and €2 billion found that profits have met or surpassed pre-pandemic levels, and businesses expect to grow their sales and increase capital expenditures moving forward.
"French companies have remained resilient, despite the lingering effects of COVID-19 disruptions and geopolitical issues. This is likely a result of difficult but necessary decisions midsize companies made early in the pandemic, which have set them up to recover well."
Olivier Simon
Head of Commercial Banking, France, J.P. Morgan
Roughly six in 10 business executives said they’re optimistic about the global, European and national economies. That confidence boosts to 79% when asked about each business’ industry, and it reaches 82% when asked about the company’s own performance.
More than four out of five business leaders expect their companies to thrive in 2022, and none of those surveyed expressed fear their business will not survive.
Executives see the labour shortage as the largest impediment to growth, with recruiting/hiring as the growing pain mentioned most often (31%). As a result of the labour shortage, employees are working more, companies are reducing operating hours and using more outside consultants.
© 2022 JPMorgan Chase & Co. All rights reserved. JPMorgan Chase Bank, N.A. Member FDIC. Visit jpmorgan.com/cb-disclaimer for disclosures and disclaimers related to this content.
Outlook
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Zooming out to see the 3 largest trends of Q1
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Eye on the market: The good, the bad and the ugly: On tech valuations, AI, energy and U.S. politics
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Bubble or bliss? Why we think stocks could grind higher.
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The race to rate cuts is on: What it means for you
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Central banks have given the go ahead on rate cuts. Is your portfolio ready?
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