France in May 2026: the most important developments in economy
In May 2026, France's economic news was dominated by large investment announcements from President Emmanuel Macron's government and companies. At the France-Africa summit in Nairobi, Macron pledged more than one billion euros in investments in Kenya. Amazon announced 15 billion euros for France, with 7,000 jobs. Macron announced 1.5 billion euros for quantum computing and advanced microchips, and at the end of the month, during his final Choose France summit, SoftBank was reported to plan spending of up to 75 billion euros on AI data centres in the country. The summit opened as factory closures increased and reindustrialisation was reported to have stalled.
The Middle East war and the Strait of Hormuz blockade weighed on the wider economy. TotalEnergies extended its fuel price cap and the government announced further fuel support and financial aid for airlines. Marine Le Pen demanded a windfall tax on energy profits, and the government was reported to be considering one on TotalEnergies. Inflation rose to its highest level since 2024, unemployment rose above 8% for the first time in five years, and a preliminary purchasing managers' index showed business activity falling at its fastest pace since 2020. Michelin planned up to 1,500 voluntary layoffs and Okaidi up to 290 job cuts. Emmanuel Moulin was appointed governor of the Bank of France.
Airbus had a mixed month. AirAsia ordered 150 A220 aircraft, Canada placed a $19 billion order, and Saudia took delivery of the first A321XLR in the Middle East. Airbus also informed customers of further A350 delays, and China was reported to be delaying Airbus deliveries and approvals while promoting its own COMAC aircraft.
In technology, Mistral AI signed agreements with Airbus and BMW to bring AI to manufacturing, acquired Emmi AI, and expanded its partnership with Harvey AI. LVMH and Marc Jacobs parted ways after nearly 30 years, and Armani sold equal stakes to Essilux, LVMH and L'Oreal.
by WorldBrief & Maksim Micheliov | AI-generated summary
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