A huge job for the new administration will be persuading the French people — and French businesses, investors and workers — to feel more optimistic about the future after a long malaise.

“The best case is it takes some time, but he manages to implement at least half of what’s needed to stop decreasing competitiveness and change the trajectory of France,” said Olivier Marchal, a partner with Bain & Company. “If he accomplishes that, then employment picks up, confidence is rebuilt, new investment comes in, and we shift from a vicious cycle to to virtuous one."