GDP or Gross Domestic Product is a measure of a country’s economic output, the value of all its goods and services produced. It therefore represents the country’s standard of living.
The French GDP is falling, so they want to substitute their vacation time and other assumed “joie de vivre.” After all, it can be embarrassing when the French have to compare their left-oriented economy to those more attuned to capitalism.
So they have suggested an arbitrary adjustment that assumes their way of living is superior to others. They may take the month of August off for holidays. So they come up with an arbitrary value from under their chapeau.
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