France faces a significant decline in birth rate, reaching its lowest level since World War Two, with 678,000 births in 2023, down 7% from the previous year and 20% since 2020. The average number of children per mother has fallen to 1.68, the lowest in three decades. The decline is attributed to various factors including the generosity of France's healthcare and childcare system, tax breaks, and other benefits for having children. The potential impact on long-term growth prospects and retirement reform is significant, with a possible recovery expected as people born in 2000-2010 begin to have children.

France's Birth Rate Hits Record Low