Several factors lay behind the decades-long slowdown in per capita growth in advanced economies, according to the governor of the Banque de France, François Villeroy de Galhau.

While the "concern over output mismeasurement" was "serious", this factor "cannot explain all of the slowdown, as it did not suddenly appear in the mid-2000s", Villeroy de Galhau told an audience in Paris in a speech today (January 16).

He said he was also "very much inclined to say" that lower growth rates were a "demand