Abstract : Whowill win the next French presidential election ? Forecasting electoral results from political-economy models is a recent tradition in France. In this article, we pursue this effort by estimating a vote function based on both local and national data for the elections held between 1981 and 2007. This approach allows us to circumvent the small N problem and to produce more robust and reliable results. Based on a model including economic (unemployment) and political (approval and previous results) variables,we predict the defeat, although by a relatively small margin, of the right-wing incumbent Nicolas Sarkozy in the second round of the French presidential election to be held in May 2012.