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The importance of supply-side bottlenecks in France
[L'importance des goulets d’étranglement au niveau de l'offre en France]

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  • Stefan Gebauer

Abstract

Relative to demand factors, supply-side disruptions during the Covid-19 pandemic explain about 60% of longer delivery times and significantly dampened manufacturing output since 2020 in France. According to historical regularities, bottlenecks are expected to unwind in the course of 2022, while forecasts are surrounded by a high degree of uncertainty given the unusual origins of disruptions. Les perturbations de l’offre observées durant la pandémie de Covid-19 expliquent environ 60 % de l’allongement des délais de livraison (le reste étant imputable aux facteurs de demande) en France. Ces perturbations ont nettement freiné la production manufacturière depuis 2020. D’après les régularités historiques, les goulets d’étranglement devraient se résorber en 2022, mais ces prévisions sont entourées d’une forte incertitude liée aux origines inhabituelles des perturbations.

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Handle: RePEc:bfr:econot:252
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File URL: https://www.banque-france.fr/en/publications-and-statistics/publications/importance-supply-side-bottlenecks-france
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File URL: https://www.banque-france.fr/fr/publications-et-statistiques/publications/limportance-des-goulets-detranglement-au-niveau-de-loffre-en-france
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