Eurostatistics. Data for short-term economic analysis. 9, 2007.
Date: 2004-12-21
Institutions: Eurostat
Subjects: EU statistics, economic analysis, economic situation, economic statistics, short-term economic prospects

ISSN 1725-8111

S t a t i s t i c a l b o o k s

Eurostatistics
Data for short-term economic analysis

Issue number /2007

9

2007 edition

EUROPEAN COMMISSION

EUROPE AN COMMISSION

ISSN 1725-8111

S t a t i s t i c a l   b o o k s

Eurostatistics
Data for short-term economic analysis

Issue number 9/2007

2007 edition

EUROPE AN COMMISSION

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Table of contents

SECTION 1 
Summary analysis  ..................................................................................................  7

SECTION 2 
Main indicators for euro area and European Union  .................... 17

SECTION 3 
Detailed Tables  ...................................................................................................... 23

Section 3.1 — Output  ........................................................................................ 25
Section 3.2 — Demand  .................................................................................... 75
Section 3.3 — Income  .................................................................................... 105
Section 3.4 — Labour Market  .................................................................. 123
Section 3.5 — Prices  ....................................................................................... 157
Section 3.6 — External Transactions  ................................................... 197
Section 3.7 — Money & Finance  ............................................................ 219

NB:

Symbols and codes in the tables 

Euro area (EA-11 up to 31.12.2000 / EA-12 up to 31.12.2006/EA-13 onwards)

Estonia 
Ireland
Greece 
Spain 
France 
Italy 
Cyprus 
Latvia 
Lithuania 
Luxembourg (Grand-Duché) 

EU-27:  European Union (27 countries) 
EA-13:  Euro area (13 countries)
EU-25:  European Union (25 countries) 
EU-15:  European Union (15 countries) 
EA:  
EA-12:  Euro area (12 countries) 
BE:  
Belgium 
Bulgaria
BG:  
CZ:   Czech Republic 
DK:   Denmark 
DE:   Germany (including ex-GDR from 1991) 
EE:  
IE:  
EL:  
ES:  
FR:  
IT:  
CY:  
LV:  
LT:  
LU:  
HU:   Hungary 
MT:   Malta 
NL:   Netherlands 
Austria 
AT:  
Poland 
PL:  
PT:  
Portugal 
RO:   Romania 
Slovenia 
SI:  
Slovak Republic 
SK:  
Finland 
FI:  
SE:  
Sweden 
UK:   United Kingdom 
NO:   Norway 
US:  
JP:  
« : »  
« - »  
« c »  

United States 
Japan 
not available data 
not existing data 
confidential data 

Data presented in Sections 2 and 3 of this publication have been extracted from Eurostat’s 
European and National Short-Term Indicators database on 7 September 2007 

Section 1

SUMMARY ANALYSIS

EUROSTATISTICS

Euro area and EU Industrial production, Industrial new orders, Hourly labour costs, External trade, 
Balance of payments and Inflation

Released from 12 to 24 September 2007

Industrial production up by 0.6% and industrial new orders down by 4.0% for the euro 
area in July 2007. Euro area annual inﬂ ation down to 1.7% in August 2007

In July 2007 compared with June 2007, seasonally adjusted industrial production increased by 0.6% in the 
euro area (EA13) and by 0.4% in the EU27. In June production remained stable in the euro area and grew 
by 0.1% in the EU27. In July 2007 compared with July 2006, industrial production grew by 3.7% in the 
euro area and by 3.5% in the EU27. In July 2007 compared with June 2007, production of capital goods in-
creased by 1.0% in the euro area and by 0.7% in the EU27. Intermediate goods grew by 0.5% in both zones. 
Non-durable consumer goods rose by 0.3% in the euro area and by 0.2% in the EU27. Energy gained 0.1% 
and 0.7% respectively. Durable consumer goods fell by 0.1% in the euro area, but remained stable in the 
EU27. In July 2007, and among the Member States for which data are available, industrial production rose 
in fifteen Member States and fell in five. The highest increases were registered in Ireland (+14.4%), Slovakia 
(+4.6%) and Denmark (+2.9%), while the largest decreases were recorded in Portugal (-2.7%), Slovenia (-
0.7%) and Estonia (-0.5%). In July 2007 compared with July 2006, production of capital goods increased by 
6.3% in the euro area and by 6.1% in the EU27. Intermediate goods grew by 3.7% and 3.6% respectively. 
Non-durable consumer goods rose by 2.9% in the euro area and by 2.3% in the EU27. Durable consumer 
goods gained 1.8% and 3.5% respectively. The energy sector fell by 0.4% in the euro area and by 0.1% in 
the EU27. In July 2007, and among the Member States for which data are available, industrial production 
rose in nineteen Member States and fell only in Denmark (-0.4%). The highest increases were registered in 
Slovakia (+18.9%), Ireland (+13.9%), Lithuania (+12.2%) and Bulgaria (+11.6%).

The euro area (EA13) industrial new orders index fell by 4.0% in July 2007 compared with June 2007. The 
index rose by 4.5% in June. EU27 new orders decreased by 3.9% in July 2007, after an increase of 5.3% in 
June. Excluding ships, railway & aerospace equipment industrial new orders fell by 0.1% in the euro area, 
but rose by 0.8% in the EU27 in July 2007. In July 2007 compared with July 2006, industrial new orders 
increased by 10.9% in the euro area and by 13.2% in the EU27. Total industry excluding ships, railway & 
aerospace equipment grew by 11.7% in the euro area and by 13.7% in the EU27. In July 2007 compared 
with June 2007, new orders for machinery & equipment rose by 2.5% in the euro area and by 5.5% in the 
EU27. Manufacturing of electrical & electronic equipment increased by 0.9% and 1.8% respectively. Basic 
metals & fabricated metal products gained 0.8% in the euro area and 1.1% in the EU27. Chemicals & 
chemical products fell by 0.1% in the euro area and by 0.7% in the EU27. Manufacturing of textiles & tex-
tile products fell by 1.4% and 1.2% respectively. Transport equipment declined by 16.0% in the euro area 
and by 13.8% in the EU27.The highest increases were recorded in Hungary (+25.2%), Denmark (+13.4%) 
and Poland (+7.1%), and the largest decreases in Latvia (-21.5%), Germany (-7.9%) and Estonia (-3.4%). 
In July 2007 compared with July 2006, new orders for machinery & equipment grew by 19.0% in the euro 
area  and  by  22.0%  in  the  EU27.  Manufacturing  of  basic  metals  &  fabricated  metal  products  increased 
by 11.4% and 11.7% respectively. Transport equipment gained 10.0% in the euro area and 16.7% in the 
EU27. Manufacturing of chemicals & chemical products rose by 9.0% and 11.4% respectively. Electrical 
& electronic equipment grew by 7.4% in the euro area and by 8.5% in the EU27. Manufacturing of textiles 
& textile products increased by 7.3% and 6.5% respectively. In July 2007, among the Member States for 
which data are available, total manufacturing working on orders rose in nineteen and fell only in Greece 
(-0.6%).  The  highest  increases  were  registered  in  Poland  (+63.4%),  Hungary  (+38.4%)  and  Lithuania 
(+35.9%).

Total hourly labour costs in the euro area (EA13) rose at an annual rate of 2.5% in nominal terms 
up to the second quarter of 2007, compared with 2.3% for the previous quarter. In the EU27, the an-
nual rise was 3.2% up to the second quarter of 2007, compared with 3.6% for the previous quarter. 
The two main components of labour costs are wages & salaries and non-wage costs. In the euro area, 
wages & salaries grew at an annual rate of 2.5% up to the second quarter of 2007, and non-wage 
costs by 1.8%, compared with 2.3% and 1.9% respectively for the first quarter of 2007. In the EU27, 
wages & salaries rose by 3.3% and the non-wage component by 2.5%. For the previous quarter the 
corresponding rates were 3.8% and 2.7%. A breakdown by economic activity shows that in the euro 
area hourly labour costs rose at an annual rate of 2.7% in industry, 3.2% in construction and 2.2% 
in services up to the second quarter of 2007. In the EU27, labour costs grew by 3.2% in industry and 
by 3.3% in both construction and services.

8

SUMMARY ANALYSIS

Euro area annual consumer price inflation was 1.7% in August 2007, down from 1.8% in July. A year earlier 
the rate was 2.3%. Monthly inflation was 0.1% in August 2007. EU annual inflation was 1.9% in August 
2007, down from 2.0% in July. A year earlier the rate was 2.3%. Monthly inflation was 0.1% in August 2007. 
In August 2007, the lowest annual rates were observed in Malta (0.6%), Denmark (0.9%) and the Nether-
lands (1.1%), and the highest rates in Latvia (10.2%), Bulgaria (9.3%) and Hungary (7.1%). Compared with 
July 2007, annual inflation rose in seven Member States, remained stable in four and fell in fifteen. The lowest 
12-month averages up to August 2007 were in Malta (0.5%), France and Finland (both 1.3%); the highest 
were in Latvia and Hungary (both 7.7%) and Bulgaria (5.7%). For the euro area, the main components with 
the highest annual rates in August 2007 were education (9.3%), alcohol & tobacco (3.8%) and hotels & res-
taurants (3.4%), while the lowest annual rates were observed for communications (-1.1%), recreation & cul-
ture (0.0%) and clothing (0.6%). Concerning the detailed sub-indices, restaurants & cafés (+0.12 percentage 
points), tobacco (+0.09) and education (+0.07) had the largest upward impact on the headline rate, while fuels 
for transport (-0.19), telecommunications (-0.09) and heating oil (-0.08) had the biggest downward impacts. 
The main components with the highest monthly rates were clothing (0.7%), alcohol & tobacco (0.5%) and 
hotels & restaurants (0.4%), and the lowest were transport (-0.5%), health (-0.4%) and recreation & culture 
(-0.1%). In particular, garments (+0.04 percentage points), accommodation services, tobacco and milk, cheese 
& eggs (+0.02 each) had the largest upward impact, while fuels for transport (-0.10), vegetables (-0.03) and 
fruit (-0.02) had the biggest downward impacts.

The first estimate for the euro area (EA13) trade balance with the rest of the world in July 2007 gave a 4.6 bn 
euro surplus, compared with +1.1 bn in July 2006. The June 2007 balance was +7.6 bn, compared with +1.6 
bn in June 2006. In July 2007 compared with June 2007, seasonally adjusted exports fell by 0.5%, while im-
ports rose by 3.6%. The first estimate for July 2007 extra-EU27 trade was a deficit of 13.8 bn euro, compared 
with -13.9 bn in July 2006. In June 2007, the balance was -9.4 bn, compared with -13.3 bn in June 2006. In 
July 2007 compared with June 2007, seasonally adjusted exports fell by 1.5%, while imports rose by 3.2%. 
The energy deficit decreased (-121.8 bn euro in January-June 2007 compared with -141.8 bn in January-June 
2006), while the surpluses rose in the chemicals sector (+37.7 bn compared with +36.4 bn) and for machinery 
and vehicles (+58.1 bn compared with +44.7 bn). EU27 trade with most of its major partners grew, with the 
exception of exports to the USA (-2% in January-June 2007 compared with January-June 2006), and imports 
from  Norway  (-10%)  and  Russia  (-6%).  The  largest  increases  were  for  exports  to  Russia  (+30%),  India 
(+20%), China and Brazil (both +14%), South Korea (+12%) and Norway (+10%), and for imports from 
China (+20%), Brazil (+17%), India (+16%) and Turkey (+14%). The EU27 trade surplus with the USA fell 
(+38.4 bn euro in January-June 2007 compared with +43.3 bn in January-June 2006). The EU27 trade deficit 
grew with China (-72.5 bn compared with -59.0 bn), but decreased with Russia (-27.8 bn compared with 
-41.4 bn) and Norway (-15.7 bn compared with -21.9 bn). The EU27 trade balance with Switzerland (+6.9 
bn compared with +7.1 bn), Japan (-17.2 bn compared with -17.0 bn) and South Korea (-7.9 bn compared to 
-8.2 bn) remained nearly stable.

According to the estimates released by the ECB for the euro area (EA13) balance of payments, the working 
day and seasonally adjusted current account of the euro area recorded a surplus of 1.7 bn euro in July 2007 
(corresponding to a surplus of 3.3 bn euro in non-seasonally adjusted terms). This reflected surpluses in goods 
(2.6 bn euro), services (3.0 bn euro) and income (1.3 bn euro) that were partly offset by a deficit in current 
transfers (5.2 bn euro). The 12-month cumulated, working day-adjusted current account up to July 2007 re-
corded a surplus of 10.0 bn euro (about 0.1% of euro area GDP), compared with a deficit of 27.9 bn a year 
earlier. This shift mainly resulted from an increase in the goods surplus (of  40.6 bn euro). In the financial 
account, combined direct and portfolio investment recorded net inflows of 37 bn euro in July 2007, reflect-
ing net inflows in portfolio investment (34 bn euro) and, to a lesser extent, in direct investment (3 bn). The 
developments in direct investment were accounted for by net inflows in other capital (mostly inter-company 
loans)  (7  bn  euro),  which  were  partly  offset  by  outflows  in  equity  capital  and  reinvested  earnings  (5  bn). 
Within portfolio investment, net inflows in equity securities (51 bn euro) were almost entirely accounted for 
by net purchases of euro area equity securities by non-residents. Conversely, net outflows in debt instruments 
(17 bn euro) mainly resulted from net purchases of foreign bonds and notes by euro area residents. Other 
investment recorded net inflows of 28 bn euro, principally as a result of net inflows by general government 
(16 bn euro), monetary financial institutions ( MFIs) excluding the Eurosystem (9 bn) and other sectors (9 
bn). Reserve assets increased by 3 bn euro (excluding valuation effects). At the end of July 2007 the stock of 
the Eurosystem’s reserve assets stood at 329 bn euro. In the 12-month period to July 2007, combined direct 
and portfolio investment showed cumulated net inflows of 188 bn euro, compared with net outflows of 43 bn 
euro a year earlier. This shift mainly reflected higher net inflows in portfolio investment (from 80 bn to 385 
bn), which to a limited extent were counterbalanced by higher net outflows in direct investment (from 123 bn 
to 197 bn). The developments in portfolio investment were largely related to higher net purchases of euro area 
debt instruments by non-residents (from 240 bn to 575 bn).

9

EUROSTATISTICS

Euro area and European Union

2007m04 2007m05 2007m06 2007m07

Industrial production

Euro area

EU-27

m/m-1

m/m-1

-0.9
-0.5

1.0
0.7

0.6 m/m-12
0.4 m/m-12

0.0
0.1
External trade

2007m04 2007m05 2007m06 2007m07
3.7
3.5

2.4
2.5

2.9
3.0

2.7
2.7

2007m04 2007m05 2007m06 2007m07

2007m04 2007m05 2007m06 2007m07

Bn euro

122.7

123.5

125.7

125.0

m/m-1

-0.5

Bn euro

119.5

120.1

121.3

125.7

m/m-1

1.3

Bn euro

3.2

3.3

4.4

-0.6

m/m-1

-

Bn euro

123.1

124.4

124.3

125.5

m/m-1

1.0

Bn euro

100.2

100.7

104.1

102.6

m/m-1

-2.0

Bn euro

114.4

115.2

116.9

120.6

m/m-1

0.0

Bn euro

-14.2

-14.5

-12.8

-18.1

m/m-1

-

0.6

0.6

-

1.0

0.5

0.7

-

1.8

1.0

-

-0.5

3.6

-

-0.1

0.9

3.4

1.4

-

-1.5

3.2

-

Bn euro

216.6

219.2

219.2

222.4

m/m-1

0.6

1.4

0.0

1.5

Extra euro area
exports

Extra euro area
imports

Extra euro area
trade balance

Intra euro area
dispatches

Extra EU-27
exports

Extra EU-27
imports

Extra EU-27
trade balance

Intra EU-27
dispatches

Industrial new orders

Euro area
EU-27

m/m-1
m/m-1

2007m04 2007m05 2007m06 2007m07
-4.0
-3.9

-0.5
-1.3

1.5
3.0

4.5
5.3

2007m04 2007m05 2007m06 2007m07
10.9
13.2

10.5
10.6

14.0
15.0

7.7
9.2

m/m-12
m/m-12

Balance of payments: Current account, euro area

2007m04 2007m05 2007m06 2007m07

Credit
Debit
Net

m/m-1
m/m-1
Bn euro

-3.4
0.2
-1.6

0.7
3.7
-7.8

4.9
-2.3
7.3

-0.7 m/m-12
2.0 m/m-12
1.7
Inﬂ ation

2007m04 2007m05 2007m06 2007m07
12.1
9.1

10.5
9.1

10.9
9.8

5.4
6.5

Aug 06 / Aug 05

Euro area
EU

2.3
2.3

12 Month
average
rates*
1.8
2.1

Monthly
rates
Aug 07**

2007m05 2007m06 2007m07 2007m08

0.1 m/m-12
0.1 m/m-12

1.9
2.1

1.9
2.1

1.8
2.0

1.7
1.9

* August 07 – August 06/August 06 – August 05

** August 07/July 07

Sharing of responsibilities between Eurostat and the ECB concerning the compilation
of Balance of payments data

Both Eurostat and the ECB issue press releases on the same day on the quarterly balance of payments for
the euro area and EU aggregates. In line with the agreed allocation of responsibilities, the ECB compiles
and disseminates monthly and quarterly balance of payments statistics for the euro area, whereas Euro-
stat focuses on quarterly and annual aggregates of the EU. The data comply with international standards,
in particular those set out in the IMF Balance of Payments Manual (5th edition).

For further information:
News Releases and Euro-indicators: http://europa.eu/comm/eurostat, and for the ECB:
http://www.ecb.eu/press/pr/stats/bop/html/index.en.html.

10

SUMMARY ANALYSIS

Euro area and EU-27 GDP first estimates for the second quarter of 2007. Indicator-based forecast for euro
area GDP –3rd and 4th quarter of 2007 and 1st quarter of 2008

Released on 04 September 2007

Euro area and EU27 GDP up by 0.3% and 0.5% respectively in the second quarter of 2007.
Quarterly euro-area GDP projections suggest firm growth over the current
and next two quarters

Euro area (EA13) GDP grew by 0.3% and EU27 GDP by 0.5% in the second quarter of 2007, compared
with the previous quarter. In the first quarter of 2007, growth rates were +0.7% in both the euro area and
the EU27. Compared with the second quarter of 2006, seasonally adjusted GDP rose by 2.5% in the euro
area and by 2.8% in the EU27, after +3.2% and +3.3% respectively for the previous quarter.

Among the main economic partners of the EU, GDP increased by 1.0% in the US in the second quarter of
2007 (after + 0.2% in the first quarter of 2007). Compared with the second quarter of 2006, GDP grew
by 1.9% in the US (+1.5% in the previous quarter).

The dynamic factor model for quarterly GDP growth in the euro area, developed by the European Com-
mission’s Directorate General for Economic and Financial Affairs, projects GDP to expand firmly over
the second half of 2007 and the first quarter of 2008. For the third and fourth quarters of this year, GDP
growth is projected in the range of 0.3% to 0.8% and 0.2% to 0.8% respectively. For the first quarter of
2008, the projected growth range is 0.2% to 0.9%.

Compared to the previous release (14 August 2007), the projected ranges for all three quarters are un-
changed.

Range of forecasts of quarterly euro area GDP growth
obtained from the indicator-based model

1.0

0.8

0.6

0.4

0.2

0.0

r
e
p
p
u

r
e
p
p
u

r
e
p
p
u

r
e
w
o
l

r
e
w
o
l

r
e
w
o
l

1.0

0.8

0.6

0.4

0.2

0.0

Q3-04 Q4-04 Q1-05 Q2-05 Q3-05 Q4-05 Q1-06

Q2-06 Q3-06 Q4-06 Q1-07 Q2-07

Q3-07 Q4-07 Q1-08

11

EUROSTATISTICS

Indicator-based forecast of quarterly GDP growth in the euro area and improved
treatment of working-day effects in European national accounts

The model, developed by Directorate General for Economic and Financial Affairs of the European
Commission, which leads to the above projections, is a dynamic factor model. This model distils the
relevant “factors” driving the euro-area business cycle from a dataset of around two thousand time
series for the euro-area countries and uses these “factors” to make projections of euro-area GDP.

Factor models provide a means of summarising the information contained in large datasets by a small
number  of  “factors”.  The  approach  assumes  macroeconomic  time  series  have  two  components:  a
common component corresponding to the business cycle and an idiosyncratic component that is spe-
cific to each time series. It is the common component which is relevant for forecasting purposes. Vari-
ous estimation procedures have been developed to extract the common factors from the underlying
time series data. The estimated common factors are then used to make projections of GDP. The time
series used in the current model were selected on the basis of economic judgement and are assumed to
contain information about the current and/or future economic situation in the euro area.

Eurostat  has  decided  to  improve  the  methodological  consistency  of  its  quarterly  estimation  proce-
dures. Since methods for temporal disaggregation routinely used in the estimation process of quarterly
national accounts give quarterly results which are time-consistent with the annual benchmark, a com-
plete and coherent adjustment for working-day effects requires the use of working-day adjusted an-
nual figures. Thus, Eurostat has switched the annual benchmark for its seasonally adjusted quarterly
accounts from raw to working-day adjusted annuals. As pointed out above, Member States usually
do not explicitly produce working-day adjusted annual data. Such annual figures can, however, be
approximated (where the necessary data is available) by comparing the annual sum of the seasonally
and working-day adjusted quarterly data to the corresponding sum of raw data. A difference between
the two can, in principle, be attributed to the working-day effect. The modified procedure improves
the  methodological  coherence  in  the  estimation  procedure  and  avoids  a  potential  distortion  of  the
quarterly series’ growth path caused by an annual working-day effect in the benchmark series. As an
effect of the modification, the seasonally adjusted quarterly series for the four quarters of a year will
now add up to working-day adjusted annual values, which are not published in their own right. The
unadjusted quarterly series will, as before, have this property with respect to the published unadjusted
annual value.

Further information can be found in the document “Improved treatment of working-day effects in
European national accounts” available in the Eurostat website under ‘‘Eurostat news’’.

For further information:
http://europa.eu/comm/economy_ﬁ nance/indicators_en.htm

12

SUMMARY ANALYSIS

Business Climate Indicator for the euro area – September 2007

Released on 28 September 2007

Business Climate Indicator for the euro area declines in September

Following a slight increase in August, the Business Climate Indicator (BCI) for the euro area fell signifi-
cantly in September. Nevertheless, the still-high level of the indicator, following the pick-up in industrial
production in July, suggests that economic activity in the industry sector grew at a solid pace in the third
quarter of this year.

The decrease in the BCI is largely due to a pronounced worsening of industry managers’ assessments of
their order books and of the production trend observed in recent months. Their production expectations
and views of both export order books and stocks of finished products also deteriorated somewhat.

Euro area Business Climate Indicator

1.6

1.4

1.2

1.0

0.8

0.6

0.4

0.2

0.0

Sep-06

Oct-06 Nov-06 Dec-06 Jan-07

Feb-07 Mar-07 Apr-07 May-07

Jun-07

Jul-07

Aug-07 Sep-07

1.6

1.4

1.2

1.0

0.8

0.6

0.4

0.2

0.0

Sep-06

Oct-06 Nov-06 Dec-06 Jan-07

Feb-07 Mar-07 Apr-07 May-07 Jun-07 Jul-07 Aug-07 Sep-07

BCI

1.35

1.33

1.47

1.53

1.33

1.50

1.50

1.58

1.50

1.52

1.33

1.37

1.09

The Business Climate Indicator

To  improve  the  understanding  of  the  business  cycle  in  the  euro  area  as  a  whole,  the  Directorate
General for Economic and Financial Affairs (DG ECFIN) has formulated a monthly indicator designed
to deliver a clear and early assessment of the cyclical situation within the euro area. The indicator
uses,  as  input  series,  five  balances  (seasonally  adjusted)  of  opinions  from  the  monthly  industrial
surveys regularly undertaken in the framework of DG ECFIN’s Business and Consumer Surveys and
separates out the information that is common to each of the series. It may be read as a survey result.
In particular:
 a high level will indicate that, overall, the surveys point to a healthy cyclical situation;
 conversely, a low level points to an adverse business climate;
 a rise (a fall) in the indicator will point to an upswing (downswing) in activity and an improvement
(deterioration) in the business climate.

For further information:
http://europa.eu/comm/economy_ﬁ nance/indicators/businessclimate_en.htm

13

EUROSTATISTICS

Growth forecasts for the euro area

Latest forecasts for GDP growth in the euro area remain positive, 
despite moderating influences

Apart from the indicator-based model for quarterly GDP growth, developed by the European Commis-
sion’s Directorate General for Economic and Financial Affairs and discussed above, there are other widely 
observed indicators of growth for the euro area. These indicators can help in understanding the actual 
phase of the business cycle (coincident indicators) or can serve as a reference in order to forecast future 
phases and turning points in economic fluctuations (leading indicators).

The outlook for the euro area economy remains positive. The Euro Growth Indicator, calculated by EU-
ROFRAME for the Financial Times Deutschland predicts real GDP growth to reach 3.1% year-on-year for 
the third and fourth quarter. This considerably higher than before; not only the EUROFRAME-Indicator 
but other models had predicted a much stronger performance which seemed also justified by a number of 
leading indicators. For the year as a whole, the EUROFRAME-Indicator predicts real GDP to increase by 
around 3%. 

The relatively stable growth rate of the Indicator reflects the fact that there were hardly any major changes 
of the indicators which are included in the model. The industry survey suggests some slowdown by the 
end  of  this  year  probably  as  a  result  of  the  deterioration  of  export  expectations.  Accordingly,  the  ISM 
survey for the United States had a negative impact. In contrast, domestic demand in the euro area seems to 
remain strong. For example, the outlook for the retail sector has improved. Monetary conditions have not 
changed very much on average. While the real interest rate is less dampening than before – also reflecting 
the fact that real rates are not so high anymore given the higher trend growth of real GDP – the exchange 
rate has appreciated in real terms and will weaken the expansion.

Of course, it must be noted that the EUROFRAME-Indicator could not fully capture the recent turbu-
lences on financial market and the possible risks for the euro area economy. The majority of the sentiment 
indicators  for  August  showed  only  moderate  declines.  The  exchange  rate  did  not  move  at  all,  and  key 
interest rates may not be raised for the time being.  It remains to be seen whether there will be a lot more 
bad news in the coming months. 

The SZ-Euroland-Indicator fell for the sixth consecutive month in September to reach his lowest level since 
May 2006, with 3.24% after 3.30% (upward revised value) in August. However its downward movement 
slowed down. The already available components of the business barometer suggest a lateral movement 
within the next months. The reference series of the SZ-Euroland-Indicator (annual rate of change of indus-
trial production for the euro area) fell considerably in June, but remained in July at a high level (unchanged 
compared to June).

The monthly composite leading indicator (CLI) for July 2007, released by the OECD, suggests a moderat-
ing outlook. The Euro area’s CLI decreased by 0.2 points in July to 107.9, and its six-month rate of change 
has a downward trend since June 2006.

The latest value of the EuroCOIN indicator, released by Banca d’Italia and Centre for Economic Policy Re-
search (CEPR), signals a further weakening of the growth momentum in the euro area in September. The 
underlying GDP growth rate, according to EuroCoin, is still well above the levels reached in 2005, before 
the cyclical upturn. Nonetheless since the beginning of 2007 the indicator has been clearly declining, after 
a temporary interruption in June and July, EuroCoin fell again in August and September.

14

SUMMARY ANALYSIS

2007Q01 2007Q02 2007Q03 2007Q04

2007m05 2007m06 2007m07 2007m08 2007m09

Euro area

3.2

2.5

-

-

-

-

-

-

-

-

-

Index 108.0

108.1

107.9

2.81

3.27

3.10

3.14

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Index

0.72

0.74

0.72

0.71

0.66

Index

3.64

3.56

3.45

3.30

3.24

GDP growth q/q-4
OECD
Composite
leading
indicator
Euroframe

q/q-4

EuroCOIN
SZ-Euroland
indicator

Indicators of growth

The  OECD  Composite  leading  indicator  is  designed  to  predict  cyclical  turning  points  (peaks  and
troughs) in aggregate economic activity. It comprises a set of component series from a wide range of
economic indicators. Data are presented in trend restored form and they are usually transformed by
taking their 6-month annualised rate of changes as an advanced indicator (from 4 to 15 months in the
last years) of future developments in business fluctuations.

The Euro Growth indicator is calculated by the Observatoire Français des Conjonctures Economiques
(OFCE, Paris) in cooperation with the Euroframe group. The group further consists of: CPB (Den
Haag), Deutsches Institut für Wirtschaftsforschung (DIW, Berlin), ESRI (Dublin), ETLA (Helsinki),
Institut für Weltwirtschaft (Kiel), National Institute for Economic and Social Research (NIESR, Lon-
don),  PROMETEIA  (Bologna),  Österreichisches  Institut  für  Wirtschaftsforschung  (Wifo,  Vienna).
The purpose of this leading indicator is to anticipate the development of the GDP in the euro area two
quarters ahead of official statistics. The indicator considers surveys from the industry, the retail and
construction sector, car registrations, and the short term real interest rate.

The EuroCOIN indicator is a coincident indicator of the euro area business cycle available in real
time. Through the use of Generalised Dynamic Factors Models, the indicator provides an estimate of
the monthly growth of the euro area GDP, after removal of measurement errors, seasonal and other
high-frequency fluctuations. The indicator is published each month by the Centre for Economic Policy
Research (CEPR) and the Banca d’Italia.

The SZ-Euroland indicator was designed by the DGZ DekaBank as a reference series reflecting the
movements over the trend in the level of economic activity as a whole. The SZ-Euroland-Indicator is
currently based on five series: IFO business expectations in the manufacturing sector for Germany,
Purchasing manager index in the manufacturing sector of the euro area, new orders in manufacturing
for Germany, Italy and the Netherlands, an Interest-rate spread, and the MSCI Stock Index EMU.

For further information:
http://www.euro-frame.org/, http://www.cepr.org/data/EuroCOIN/, http://www.oecd.org and
http://www.dekabank.de

15

Section 2

MAIN INDICATORS FOR
EURO AREA AND EUROPEAN UNION

EUROSTATISTICS

Economic Sentiment (1)
Industrial Conﬁ dence (1)
Industrial Production

Gross Domestic Product

Consumer Conﬁ dence (1)

Retail Trade

Private consumption

Gross ﬁ xed capital formation

Unemployment

Employment

Labour cost index

Consumer prices

Producer prices

Unit value index of imp. (EXT_EA-13)

Unit value index of exp. (EXT_EA-13)

GDP deﬂ ator

EXTRA_EA-13
Trade balance

Imports of goods 

Exports of goods

Current account balance (2)

Direct investment (2)

Portfolio investment (2)

M3 (2)

3-Month Interest Rates

Long term Governm. Bonds yield - rates

Stock Market capitalisation

Exchange rate USD/EUR

(1) Source: DG ECFIN
(2) Source: ECB

index
balance
m/m-1

q/q-1

balance
m/m-1

q/q-1
q/q-1

%

q/q-1
q/q-1

m/m-1
m/m-12
m/m-1
m/m-12
m/m-12

index

Bn EUR
m/m-12
m/m-12

Bn EUR
Bn EUR
Bn EUR

m/m-12
average
average
Bn EUR

18

Euro area

Output

2006m09 2006m10 2006m11 2006m12 2007m01 2007m02 2007m03 2007m04 2007m052007m06 2007m07 2007m08
108.9 110.0 109.9 109.8 109.2 109.7 111.1 111.0 112.1 111.7 111.0 110.0
4.9
:
2006Q02 2006Q032006Q04 2007Q01 2007Q02
2.5

5.4
-0.7
2006Q02 2006Q03 2006Q04 2007Q01 2007Q02
0.3

4.4
-1.0

6.6
-0.9

6.1
-0.1

5.0
:

5.3
0.2

6.1
0.3

5.8
1.3

5.4
0.6

6.0
0.6

5.8
1.0

q/q-4

1.0

0.6

0.9

0.7

2.2

2.5

3.3

3.0

Demand

-8.0
-0.9

-7.2
0.7

-7.8
0.1

2006m09 2006m10 2006m11 2006m12 2007m01 2007m02 2007m03 2007m04 2007m052007m06 2007m07 2007m08
-3.1
:
2006Q02 2006Q032006Q04 2007Q01 2007Q02
1.2
5.0

-6.5
-0.9
2006Q02 2006Q03 2006Q04 2007Q01 2007Q02
0.5
-0.2

q/q-4
q/q-4

-4.0
-0.1

-1.3
-0.6

-6.3
0.4

-1.9
0.7

-1.8
0.2

-4.4
0.8

-4.8
0.4

0.4
2.7

0.5
0.7

0.0
2.0

1.5
4.1

1.6
4.4

1.9
5.7

1.6
7.7

0.5
1.7
Labour market

7.6

7.7

7.7

2006m09 2006m10 2006m11 2006m12 2007m01 2007m02 2007m03 2007m04 2007m052007m06 2007m07 2007m08
:
2006Q01 2006Q022006Q03 2006Q04 2007Q01
1.4
2.2

7.3
2006Q01 2006Q02 2006Q03 2006Q04 2007Q01
0.4
0.5

q/q-4
q/q-4

0.5
0.6

0.5
0.6

0.2
0.5

1.1
2.4

1.5
2.6

1.5
2.4

1.5
2.2

7.1

7.0

7.0

7.5

7.2

6.9

6.9

0.3
0.5
Prices

0.1
2.3
0.1
6.1
2.8

0.1
1.6
0.0
1.8
2.3

0.0
1.7
-0.5
4.1
2.8

2006m08 2006m09 2006m10 2006m11 2006m12 2007m01 2007m02 2007m03 2007m042007m05 2007m06 2007m07
-0.2
1.8
0.3
:
:

0.4
1.9
0.0
0.9
2.1
2006Q02 2006Q03 2006Q04 2007Q01 2007Q02
120.3 120.8 122.8 122.2 122.9
External transactions

0.7
1.9
0.4
-0.9
1.7

0.6
1.9
0.5
-0.4
2.6

0.3
1.9
0.3
-0.7
2.1

-0.5
1.8
0.2
-1.1
1.1

0.2
1.9
0.3
-0.8
2.9

0.1
1.9
0.1
:
:

0.0
1.8
0.0
1.8
3.1

0.8
7.5
8.6

1.5
2.5
6.3

3.7
6.5
12.7

-3.4
10.9
8.1

-4.7
13.0
7.4

0.2
14.1
16.2

2006m07 2006m08 2006m09 2006m10 2006m11 2006m12 2007m01 2007m02 2007m032007m04 2007m05 2007m06
5.2
3.8
9.0
2006m07 2006m08 2006m09 2006m10 2006m11 2006m12 2007m01 2007m02 2007m032007m04 2007m05 2007m06
11.4
-44.8
70.2

13.9
-0.7
-5.7
-36.6
-9.9
-5.5
-22.3
31.1
30.9
Monetary and ﬁ nancial markets

-4.3
-24.5
15.6

-14.0
-13.4
5.0

5.0
-12.8
59.1

1.7
-27.7
40.1

-5.7
-11.0
23.0

-1.0
-10.9
4.5

1.8
8.0
12.0

9.4
-5.9
65.6

-6.1
-7.4
33.5

3.5
6.3
11.1

0.7
7.4
9.8

5.5
0.5
6.7

3.9
1.7
6.7

2006m08 2006m09 2006m10 2006m11 2006m12 2007m01 2007m02 2007m03 2007m042007m05 2007m06 2007m07
11.6
10.0
4.2
3.8
4.6
4.1
:
:
0.781 0.786 0.793 0.776 0.757 0.769 0.765 0.755 0.740 0.740 0.745 0.729

10.0
3.7
3.9
:

10.0
3.8
4.1
:

11.2
3.9
4.0
:

10.2
4.0
4.2
:

11.1
4.2
4.6
:

10.6
4.1
4.4
:

8.7
3.3
3.8
:

8.5
3.5
3.9
:

9.4
3.6
3.8
:

8.2
3.2
4.0
:

MAIN INDICATORS

European Union (27 countries)

Output

110.4 110.9 112.6 112.4 110.7 112.0 113.8 113.6 115.0 115.0 113.3
4.8
5.2
:
0.4

2006m09 2006m10 2006m11 2006m12 2007m01 2007m02 2007m03 2007m04 2007m05 2007m06 2007m07 2007m08
113.2
4.7
:
2006Q02 2006Q03 2006Q04 2007Q01 2007Q02
2.5

4.0
-0.5
2006Q02 2006Q03 2006Q04 2007Q01 2007Q02
0.5

6.0
-0.5

3.6
-0.5

4.9
1.0

6.7
0.0

3.8
0.2

5.4
0.3

5.8
0.7

5.8
0.5

q/q-4

3.4

0.6

1.0

2.5

2.9

3.5

0.9

0.7

Demand

-7.3
-0.1

-6.3
0.7

-6.4
0.4

2006m09 2006m10 2006m11 2006m12 2007m01 2007m02 2007m03 2007m04 2007m05 2007m06 2007m07 2007m08
-2.5
:
2006Q02 2006Q03 2006Q04 2007Q01 2007Q02
1.1
4.9

-6.3
0.4
2006Q02 2006Q03 2006Q04 2007Q01 2007Q02
0.6
-0.2

q/q-4
q/q-4

-1.6
0.6

-1.7
0.7

-1.4
0.3

-5.6
0.9

-3.9
0.2

-4.6
1.0

-4.1
1.6

2.1
8.3

0.5
1.1

0.7
2.8

2.0
5.2

2.0
5.6

2.3
7.0

0.2
1.9

0.7
2.0
Labour market

7.5

7.6

7.8

2006m09 2006m10 2006m11 2006m12 2007m01 2007m02 2007m03 2007m04 2007m05 2007m06 2007m07 2007m08
:
2006Q01 2006Q02 2006Q03 2006Q04 2007Q01
1.0
3.7

7.3
2006Q01 2006Q02 2006Q03 2006Q04 2007Q01
0.1
0.9

q/q-4
q/q-4

1.4
2.8

0.4
0.9

0.6
0.6

1.6
3.1

1.5
2.7

1.7
3.0

0.2
0.8

7.0

7.0

6.9

7.5

7.2

7.1

6.8

0.2
0.8
Prices

0.2
2.4
0.2
6.7
1.7

0.1
1.8
0.3
1.4
1.6

0.0
2.0
-0.7
3.9
1.3

2006m08 2006m09 2006m10 2006m11 2006m12 2007m01 2007m02 2007m03 2007m04 2007m05 2007m06 2007m07
-0.3
2.0
0.3
:
:

0.4
2.2
0.0
-0.2
1.1
2006Q02 2006Q03 2006Q04 2007Q01 2007Q02
127.5 127.9 130.1 130.7 131.2
External transactions

0.6
2.2
0.1
-1.6
1.3

0.6
2.3
0.3
-2.4
1.0

0.3
2.1
0.3
-2.1
1.4

-0.4
2.1
-0.1
-2.2
-0.1

0.3
2.2
0.3
-2.3
0.5

0.1
2.2
0.2
1.1
1.9

0.1
2.1
0.4
1.5
2.4

-20.3
11.7
4.9

-19.0
12.8
4.7

-15.7
8.1
4.9

-16.1
13.6
12.6

-14.0
0.8
2.8

-12.3
7.1
12.2

2006m07 2006m08 2006m09 2006m10 2006m11 2006m12 2007m01 2007m02 2007m03 2007m04 2007m05 2007m06
-12.1
2.7
6.9
2006m07 2006m08 2006m09 2006m10 2006m11 2006m12 2007m01 2007m02 2007m03 2007m04 2007m05 2007m06
-
-
-
-
-
-
Monetary and ﬁ nancial markets

-13.7
4.8
8.4

-16.1
5.8
5.5

-12.0
0.6
4.1

-14.0
0.4
3.5

-15.1
6.8
9.5

-
-
-

-
-
-

-
-
-

-
-
-

-
-
-

-
-
-

-
-
-

-
-
-

-
-
-

-
-
-

Economic Sentiment (1)

Industrial Conﬁ dence (1)

Industrial Production

Gross Domestic Product

Consumer Conﬁ dence (1)

Retail Trade

Private consumption

Gross ﬁ xed capital formation

Unemployment

Employment

Labour cost index

index
balance
m/m-1

q/q-1

balance
m/m-1

q/q-1
q/q-1

%

q/q-1
q/q-1

Producer prices

Consumer prices

m/m-1
m/m-12
m/m-1
Unit value index of imp. (EXT_EU-27) m/m-12
m/m-12
Unit value index of exp. (EXT_EU-27)

GDP deﬂ ator

index

EXTRA_EU-27

Trade balance

Imports of goods

Exports of goods

Current account balance

Direct investment

Portfolio investment

Bn EUR
m/m-12
m/m-12

Bn EUR
Bn EUR
Bn EUR

M3

3-Month Interest Rates

Long term Governm. Bonds yield - rates

Stock Market capitalisation

Exchange rate USD/EUR

(1) Source: DG ECFIN

2006m08 2006m09 2006m10 2006m11 2006m12 2007m01 2007m02 2007m03 2007m04 2007m05 2007m06 2007m07
-
-
m/m-12
4.6
4.1
average
4.9
4.4
average
Bn EUR 9.300 9.488 9.810 9.844 10.287 10.482 10.321 10.647 10.984 11.370 11.326 10.972
-

-
4.5
4.9

-
4.2
4.4

-
4.0
4.1

-
:
4.7

-
:
4.5

-
:
4.1

-
4.3
4.6

-
3.6
4.2

-
3.7
4.1

-
3.9
4.1

-

-

-

-

-

-

-

-

-

-

-

19

EUROSTATISTICS

index (ES)

Euro area

Output

Demand

growth rate (IP, GDP)
2.5

balance (CC)

growth rate (PC, RT)
2.0

114
112
110
108
106
104
102
100
98
96
94

2.0

1.5

1.0

0.5

0.0

-0.5

-1.0

-1.5

-2.0

2006
m09

2006
m11

2007
m01

2007
m03

2007
m05

2007
m07

-2

-4

-6

-8

-10

-12

-14

-16

-18

1.5

1.0

0.5

0.0

-0.5

-1.0

2006
m09

2006
m11

2007
m01

2007
m03

2007
m05

2007
m07

Economic Sentiment (ES)

Industrial Production (IP)

Consumer Confidence (CC)

Retail Trade (RT)

Gross Domestic Product (GDP)

Private consumption (PC)

rate (Un.)

8.4

8.2

8.0

7.8

7.6

7.4

7.2

7.0

6.8

Labour Market

Prices

growth rate (LCI, Empl.)
0.8

index (GDP defl.)
124

growth rate (CP, PP)
2.0

0.6

0.4

0.2

0.0

-0.2

123

122

121

120

119

118

117

2006
m08

2006
m10

2006
m12

2007
m02

2007
m04

2007
m06

1.5

1.0

0.5

0.0

-0.5

-1.0

2006
m09

2006
m11

2007
m01

2007
m03

2007
m05

2007
m07

Unemployment (Un.)

Labour cost index (LCI)

GDP deflator (GDP defl.)

Consumer prices (CP)

Employment (Emp.)

Producer prices (PP)

External Transactions

Financial Market

BN EUR (DI)

BN EUR (TB, CAB)

average (LTI, STI)

growth rate (M3)

16.0

12.0

8.0

4.0

0.0

-4.0

-8.0

-12.0

-16.0

6.0

5.0

4.0

3.0

2.0

1.0

2006
m07

2006
m09

2006
m11

2007
m01

2007
m03

2007
m05

Direct investment (DI)

Trade balance (TB)

Current account balance (CAB)

20.0

0.0

-20.0

-40.0

-60.0

-80.0

-100.0

20

12.5

11.5

10.5

9.5

8.5

7.5

6.5

2006
m08

2006
m10

2006
m12

2007
m02

2007
m04

2007
m06

Long term Governm. Bonds yield - rates (LTI)

3-Month Interest Rates (STI)

M3

MAIN INDICATORS

growth rate (PC, RT)
1.8
1.6
1.4
1.2
1.0
0.8
0.6
0.4
0.2
0.0
-0.2
-0.4
-0.6
-0.8

European Union

Output

Demand

index (ES)
116

growth rate (IP, GDP)
2.5

114

112

110

108

106

104

102

100

98

2006
m09

2006
m11

2007
m01

2007
m03

2007
m05

2007
m07

2.0

1.5

1.0

0.5

0.0

-0.5

-1.0

balance (CC)
-1
-2
-3
-4
-5
-6
-7
-8
-9
-10
-11
-12
-13
-14
-15

2006
m09

2006
m11

2007
m01

2007
m03

2007
m05

2007
m07

Economic Sentiment (ES)

Gross Domestic Product (GDP)

Consumer Confidence (CC)

Private consumption (PC)

Industrial Production (IP)

Retail Trade (RT)

Labour Market

Prices

rate (Un.)

growth rate (LCI, Emp.)

index (GDP defl.)

growth rate (PP, CP)

8.6

8.4

8.2

8.0

7.8

7.6

7.4

7.2

7.0

6.8

6.6

1.2

0.8

0.4

0.0

-0.4

-0.8

-1.2

132

131

130

129

128

127

126

125

124

123

122

2.5

2.0

1.5

1.0

0.5

0.0

-0.5

-1.0

2006
m09

2006
m11

2007
m01

Unemployment (Un.)

2007
m03

2007
m05

2007
m07
Employment (Emp.)

2006
m08

2006
m10

2006
m12

2007
m02

2007
m04

2007
m06

GDP deflator (GDP defl.)

Consumer prices (CP)

Labour cost index (LCI)

Producer prices (PP)

External Transactions

Financial Market

BN EUR (TB)

growth rate (EX, IM)

average

-10.0

-12.0

-14.0

-16.0

-18.0

-20.0

-22.0

-24.0

2006
m07

2006
m09

2006
m11

2007
m01

2007
m03

2007
m05

14.0

12.0

10.0

8.0

6.0

4.0

2.0

0.0

5.0

4.8

4.6

4.4

4.2

4.0

2006
m08

2006
m10

2006
m12

2007
m02

2007
m04

2007
m06

Trade balance (TB)

Imports of goods (IM)

Long term Governm. Bonds yield - rates

Exports of goods (EX)

5.0

4.8

4.6

4.4

4.2

4.0

21

Section 3

DETAILED TABLES

Introduction

Since 1999 Eurostat has adopted the International Monetary Fund’s (IMF) 
Special Data Dissemination Standard (SDDS) for providing the aggregated 
Euro area and European Union indicators with complementary metadata 
on Basic Information & Summary Methodology which are at the same time 
comprehensive  and  non-redundant.  These  metadata  fi les  are  regularly 
checked  and  updated  by  Eurostat  to  ensure  a  perfect  correspondence 
between the data and the attached meta-information.

Per collection, Metadata can easily and in SDDS format be accessed from 
the  new  Euro  Indicators’  site  http://europa.eu.int/comm/eurostat/Public/
datashop/print-catalogue/EN?cata  logue=euroindicators&collection=02-
Metadata.

Section 3.1

OUTPUT

EUROSTATISTICS

3.1.1

Gross domestic product at market prices

Billions of euro
current prices

Growth
index

1995=100

Percentage change
on previous period

at 1995 prices

PPS per
head

2005

2006

2007 (f)

2008 (f)

2008 (f)

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

8,052
10,989
299
22
101
208
2,245
11
161
181
908
1,718
1,423
14
13
21

(f)  Forecast

8,433
11,579
314
25
114
220
2,322
13
176
195
981
1,792
1,475
15
16
24

8,839
12,195
328
28
123
232
2,423
15
190
209
1,049
1,871
1,534
15
20
27

9,224
12,780
342
31
132
243
2,501
18
203
224
1,117
1,949
1,596
16
23
30

132.6
136.5
132.5
148.3
151.4
132.9
122.6
262.3
236.9
164.9
160
133.1
120.1
157.7
255.4
223.8

2005

1.5
1.8
1.1
6.2
6.5
3.1
0.8
10.5
5.5
3.7
3.6
1.7
0.1
3.9
10.6
7.6

2006

2007 (f)

2008 (f)

2008 (f)

2.8
3.0
3.2
6.1
6.1
3.5
2.9
11.4
6.0
4.3
3.9
2.0
1.9
3.8
11.9
7.5

2.6
2.9
2.3
6.1
4.9
2.3
2.5
8.7
5.0
3.7
3.7
2.4
1.9
3.8
9.6
7.3

2.5
2.7
2.2
6.2
4.9
2.0
2.4
8.2
4.0
3.7
3.4
2.3
1.7
3.9
7.9
6.3

27,000
25,800
31,300
10,400
21,500
32,400
29,400
19,500
37,200
23,300
26,600
28,800
26,400
23,800
16,400
16,300

GDP growth rates, yearly

EA-13

3

2

1

0

3

2

1

0

2005

2006

2007 (f)

2008 (f)

Gross domestic product

Gross domestic product at market prices is the final result of the production activity of resident producer units.
(ESA 1995, 8.89). It can be defined in three ways:
1) GDP is the sum of final uses of goods and services by resident institutional units, plus exports and minus imports of goods and
services (Demand side).
2) GDP is the sum of gross value added of the various institutional sectors or the various industries plus taxes and less subsidies
on products (Production side).
3) GDP is the sum of uses in the total economy generation of income account (Income side).

°   The  calculation  of  the  annual  growth  rate  of  GDP  at  constant  prices  is  intended  to  allow  comparisons  of  the  dynamics  of
economic development both over time and between economies of different sizes. The growth rate is calculated from figures at
constant prices since these give volume movements only, i.e. price movements will not inflate the growth rate.

26

DETAILED TABLES

3.1.1

Gross domestic product at market prices (continued)

Billions of euro
current prices

Growth
index

1995=100

Percentage change
on previous period

at 1995 prices

PPS per
head

2005

2006

2007 (f)

2008 (f)

2008 (f)

2005

2006

2007 (f)

2008 (f)

2008 (f)

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

29
89
5
509
245
244
149
80
28
38
157
288
1,805
243
9,994
3,663

33
90
5
534
258
272
155
97
30
44
167
306
1,906
267
10,509
3,477

36
104
5
559
270
301
162
121
32
54
175
327
2,021
285
10,276
3,223

39
110
6
585
282
328
170
140
34
59
183
345
2,109
305
10,640
3,261

182.9
164.0
:
140.7
135.3
180.0
133.4
151.5
167.5
185.5
159.7
147.0
143.3
145.6
147.9
119.5

(f)  Forecast

4.0
4.1
3.3
1.5
2.0
3.6
0.5
4.1
4.0
6.0
2.9
2.9
1.8
2.7
3.1
1.9

6.2
3.9
3.3
3.0
3.3
6.1
1.3
7.7
5.2
8.3
5.5
4.2
2.8
2.8
2.9
2.2

5.0
2.4
3.0
2.8
2.9
6.1
1.8
6.7
4.3
8.5
3.1
3.8
2.8
3.2
2.2
2.3

4.7
2.6
2.8
2.6
2.5
5.5
2.0
6.3
4.0
6.5
2.7
3.3
2.5
2.7
2.7
2.1

73,900
17,000
19,300
34,200
33,200
14,600
18,900
10,600
23,100
17,800
30,200
31,500
30,600
48,600
38,600
29,000

GDP growth rates, yearly

EU-27

4

3

2

1

0

4

3

2

1

0

2005

2006

2007 (f)

2008 (f)

GDP is the main indicator of the economic activity.
-At current prices it is expressed in billions of current euro.
-At constant prices it is expressed at fixed prices and exchange rate of year 1995.

GDP per head is the most useful indicator of richness of a country. The volume index of GDP per capita in Purchasing Power
Standards (PPS) is expressed in relation to the European Union (EU-15) average set to equal 100. If the index of a country is higher
than 100, this country’s level of GDP per head is higher than the EU average and vice versa. Basic figures are expressed in PPS, i.e.
a common currency that eliminates the differences in price levels between countries allowing meaningful volume comparisons of
GDP between countries. Please note that the index calculated from PPS figures is intended for cross-country comparisons rather
than for temporal comparisons.

27
27

EUROSTATISTICS

3.1.2.a

Gross domestic product at market prices
Percentage change on previous period (t/t-1)

Seasonally adjusted data (at 1995 prices)

2004

2005

2006

2007

04Q03 04Q04 05Q01 05Q02 05Q03 05Q04 06Q01 06Q02 06Q03 06Q04 07Q01 07Q02

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

1.5

1.0

0.5

0.0

0.3
0.4
0.9
:
1.4
0.2
-0.2
2.3
-0.1
1.8
1.2
0.4
0.2
0.8
2.7
0.9

0.2
0.4
0.2
:
1.4
1.3
0.1
1.5
2.5
-0.1
0.7
0.7
-0.5
1.0
2.3
2.3

0.3
0.3
-0.2
:
1.8
0.0
0.4
3.5
1.8
2.4
0.9
0.2
-0.3
1.1
2.7
1.6

0.5
0.6
0.4
:
1.7
2.0
0.4
2.5
2.7
-0.3
0.9
0.2
0.6
0.6
3.5
1.8

0.7
0.7
0.6
:
1.6
0.8
0.6
3.5
-0.6
1.8
0.9
0.7
0.4
1.2
2.4
2.7

0.4
0.5
1.0
:
1.8
-0.2
0.3
1.7
1.5
-0.2
0.9
0.4
-0.1
1.0
3.1
1.8

0.9
1.0
0.8
:
1.4
1.3
0.9
3.5
2.3
2.8
0.9
0.7
0.8
0.8
2.9
1.4

1.0
1.0
0.7
:
1.6
1.6
1.3
2.6
0.8
-0.4
1.1
0.9
0.6
1.1
2.4
2.3

0.6
0.6
0.8
:
1.4
0.2
0.7
2.7
3.2
:
0.9
0.1
0.3
0.6
3.4
1.3

0.9
0.9
0.7
:
1.5
0.5
1.0
1.9
-1.6
:
1.1
0.4
1.1
1.0
2.4
1.9

0.7
0.7
0.7
:
1.5
0.3
0.5
2.3
4.7
:
1.0
0.5
0.3
1.2
2.6
2.3

GDP growth rates (t/t-1)

EA-13

0.3
0.5
0.6
:
:
-0.4
0.3
:
:
:
0.9
0.3
0.1
0.8
:
2.0

1.5

1.0

0.5

0.0

04Q03

04Q04

05Q01

05Q02

05Q03

05Q04

06Q01

06Q02

06Q03

06Q04

07Q01

07Q02

Gross domestic product

Gross domestic product at market prices is the final result of the production activity of resident producer units.
(ESA 1995, 8.89). It can be defined in three ways:
1) GDP is the sum of final uses of goods and services by resident institutional units, plus exports and minus imports of goods and
services (Demand side).
2) GDP is the sum of gross value added of the various institutional sectors or the various industries plus taxes and less subsidies
on products (Production side).
3) GDP is the sum of uses in the total economy generation of income account (Income side).

28

DETAILED TABLES

3.1.2.a

Gross domestic product at market prices (continued)
Percentage change on previous period (t/t-1)

Seasonally adjusted data (at 1995 prices)

2004

2005

2006

2007

04Q03 04Q04 05Q01 05Q02 05Q03 05Q04 06Q01 06Q02 06Q03 06Q04 07Q01 07Q02

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

1.5

1.0

0.5

0.0

0.6
1.2
-1.3
0.5
0.7
0.3
-0.6
:
1.5
1.4
0.6
0.6
0.4
-0.5
0.9
0.3

0.8
0.8
2.6
0.2
0.5
1.1
-0.3
:
0.3
1.4
1.2
0.8
0.6
1.4
0.6
-0.2

0.5
0.8
0.8
-0.4
0.4
0.7
0.4
:
1.1
1.4
0.4
0.3
0.2
0.6
0.8
0.8

1.8
1.4
-0.4
1.0
0.8
0.7
1.0
:
1.7
1.5
0.7
0.7
0.5
0.8
0.7
0.9

1.2
0.9
3.8
0.9
0.9
1.5
-0.6
:
0.8
1.7
1.5
1.3
0.5
1.1
1.1
0.7

1.8
1.3
-0.6
0.7
0.7
1.1
0.2
:
1.4
1.9
-0.2
0.8
0.6
0.4
0.3
0.4

1.5
0.9
-0.2
0.4
0.7
1.7
0.4
:
0.7
2.0
2.2
1.6
0.8
0.8
1.2
0.6

1.2
1.0
0.1
1.2
0.8
1.5
0.8
:
2.2
2.2
1.2
1.0
0.8
0.1
0.6
0.4

1.5
0.7
4.2
0.5
0.9
1.7
0.1
:
1.5
2.3
0.8
0.7
0.7
1.7
0.3
0.1

1.8
0.5
-0.7
0.7
0.8
1.8
0.2
:
1.5
2.3
2.4
0.9
0.8
0.3
0.5
1.3

1.6
0.4
0.9
0.7
0.9
1.6
0.8
:
2.2
2.4
0.9
0.7
0.7
0.7
0.2
0.8

GDP growth rates (t/t-1)

EU-27

:
0.2
:
0.2
1.0
1.7
:
:
:
2.4
:
1.0
0.8
:
1.0
0.1

1.5

1.0

0.5

0.0

04Q03

04Q04

05Q01

05Q02

05Q03

05Q04

06Q01

06Q02

06Q03

06Q04

07Q01

07Q02

Quarterly GDP gives information on the short-term evolution of economic activity in a country. It is computed by Member States
on the basis of methods harmonised by Eurostat. European aggregates are calculated by using temporal disaggregation techniques.
Data are presented in seasonally adjusted form. Seasonal adjustment is performed by Member States using differents methods and
options.
European aggregates seasonally adjusted are obtained by aggregating National seasonally adjusted data.
The quarterly growth rates show the change compared to the previous quarter (i.e. 2001Q4 vs. 2001Q3, called “quarter-on-quar-
ter”). They are meaningful only on the base of seasonally adjusted figures as otherwise seasonal fluctuations could hide volume
movements.

29

EUROSTATISTICS

3.1.2.b

Gross domestic product at market prices
Percentage change on the corresponding period of the previous year (t/t-4)

Non-seasonally adjusted data (at 1995 prices)

2004

2005

2006

2007

04Q03 04Q04 05Q01 05Q02 05Q03 05Q04 06Q01 06Q02 06Q03 06Q04 07Q01 07Q02

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

3.5

3.0

2.5

2.0

1.5

1.0

0.5

0.0

1.9
2.4
3.0
7.1
4.6
2.3
0.4
9.4
5.0
:
3.9
2.1
1.6
4.1
9.1
5.4

1.9
2.3
3.1
6.7
5.2
2.1
0.9
6.1
2.3
:
3.2
2.2
0.8
4.2
8.8
7.7

0.8
1.0
0.9
6.6
5.9
0.6
-0.8
8.3
5.3
:
3.1
1.8
-0.4
4.1
7.7
4.6

2.0
2.2
1.4
7.3
6.6
4.9
1.6
10.1
7.2
:
4.2
2.2
0.3
3.4
11.5
8.3

1.6
1.9
1.2
5.4
6.4
4.2
1.3
11.9
6.6
:
3.3
1.6
0.1
3.9
11.6
8.3

1.5
1.9
0.9
6.0
7.0
2.4
1.0
11.3
5.4
:
3.8
1.1
0.3
4.1
11.4
8.7

3.1
3.2
3.6
5.5
6.6
5.1
3.4
11.7
6.3
:
3.8
2.2
2.1
3.8
13.1
8.5

2.2
2.5
2.8
6.4
6.5
2.5
1.6
11.7
3.9
:
4.0
1.7
1.4
4.2
11.1
8.4

2.5
2.9
2.5
6.7
6.3
3.0
2.7
11.3
8.0
:
3.5
2.0
1.3
3.5
11.9
6.4

3.3
3.5
3.7
5.7
6.1
3.5
3.7
10.9
4.5
:
4.1
2.1
2.7
3.7
11.7
6.9

3.0
3.4
3.1
6.2
6.1
2.7
3.3
9.8
7.5
:
4.3
1.8
2.3
4.0
11.2
8.3

GDP growth rates (t/t-4)

EA-13

2.5
2.5
2.3
:
:
0.6
2.5
:
:
:
3.9
1.2
:
3.6
11.3
8.0

3.5

3.0

2.5

2.0

1.5

1.0

0.5

0.0

04Q03

04Q04

05Q01

05Q02

05Q03

05Q04

06Q01

06Q02

06Q03

06Q04

07Q01

07Q02

Gross domestic product

Gross domestic product at market prices is the final result of the production activity of resident producer units.
(ESA 1995, 8.89). It can be defined in three ways:
1) GDP is the sum of final uses of goods and services by resident institutional units, plus exports and minus imports of goods and
services (Demand side).
2) GDP is the sum of gross value added of the various institutional sectors or the various industries plus taxes and less subsidies
on products (Production side).
3) GDP is the sum of uses in the total economy generation of income account (Income side).

30

DETAILED TABLES

3.1.2.b

Gross domestic product at market prices (continued)
Percentage change on the corresponding period of the previous year (t/t-4)

Non-seasonally adjusted data (at 1995 prices)

2004

2005

2006

2007

04Q03 04Q04 05Q01 05Q02 05Q03 05Q04 06Q01 06Q02 06Q03 06Q04 07Q01 07Q02

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

4.0

3.5

3.0

2.5

2.0

1.5

1.0

0.5

0.0

2.5
4.9
-0.9
2.6
3.1
3.8
:
9.9
5.0
5.2
2.7
3.9
3.4
2.7
:
2.9

3.0
4.6
-1.3
2.7
2.5
4.5
:
9.5
4.0
5.8
3.4
4.0
3.3
4.2
:
0.8

2.0
3.0
2.1
0.5
1.7
3.8
:
6.0
3.0
4.9
3.2
1.4
0.8
-0.5
:
1.0

3.1
4.5
2.5
1.6
2.3
1.8
:
4.7
5.4
5.4
2.8
3.6
2.1
5.0
:
1.8

4.4
4.2
4.6
2.0
1.7
4.4
:
2.6
3.8
6.3
3.4
3.9
1.9
3.5
:
2.1

6.4
4.7
3.7
1.9
2.4
4.3
:
4.3
3.9
7.5
2.3
2.8
2.5
2.8
:
2.7

7.2
4.9
3.4
3.5
4.1
5.4
:
6.9
5.0
6.7
4.6
5.7
2.6
6.1
:
3.0

5.5
3.7
3.6
3.1
2.8
5.5
:
7.8
4.7
6.7
4.8
3.7
2.6
-0.1
:
2.1

6.2
3.9
2.9
2.8
3.0
6.3
:
8.3
5.6
9.8
3.2
3.6
3.1
2.9
:
1.4

5.9
3.3
3.1
2.7
3.4
7.2
:
7.7
5.5
9.6
7.4
3.8
3.1
2.5
:
2.2

7.3
2.7
3.5
2.5
3.5
6.9
:
6.0
7.2
9.0
5.5
3.0
4.2
2.8
:
2.5

GDP growth rates (t/t-4)

EU-27

:
:
:
2.4
3.8
6.8
:
5.6
:
9.4
:
3.5
:
:
:
2.3

4.0

3.5

3.0

2.5

2.0

1.5

1.0

0.5

0.0

04Q03

04Q04

05Q01

05Q02

05Q03

05Q04

06Q01

06Q02

06Q03

06Q04

07Q01

07Q02

Quarterly GDP gives information on the short-term evolution of economic activity in a country. It is computed by Member States
on the basis of methods harmonised by Eurostat. European aggregates are calculated by using temporal dissaggregation techniques.
Data are presented in seasonnally adjusted form. Seasonnal adjustment is performed by Member States using differents methods
and options.
European aggregates seasonnally adjusted are obtained by aggregating National seasonnally adjusted data.
Quarterly growth rates presented here are calculated from raw data and show the change compared to the same quarter of the
previous year (i.e. 2001Q4 vs. 2000Q4, sometimes called “year-on-year”).

31

EUROSTATISTICS

3.1.3

Economic sentiment indicator

Composite index

Seasonally adjusted data

2006

2007

06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07 07m08

EA-13
EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV
LT

:

:

:

:

:

:

:

:

:

:

108.9 110.0 109.9 109.8 109.2 109.7 111.1 111.0 112.1 111.7 111.0 110.0
110.4 110.9 112.6 112.4 110.7 112.0 113.8 113.6 115.0 115.0 113.3 113.2
112.5 115.4 112.8 115.1 109.8 113.3 113.5 115.7 117.6 118.4 117.0 115.9
:
117.4 119.1 117.8 120.2 121.2 121.0 121.9 120.0 117.9 114.9 113.1 113.0
115.1 115.7 114.9 113.5 113.1 111.1 111.5 105.7 105.2 102.3 103.6 106.1
106.4 107.7 109.1 108.8 109.7 108.5 110.0 111.4 112.3 111.9 111.3 110.3
96.0
120.4 114.9 115.5 116.3 113.6 112.1 112.9 110.1 104.5 107.1 102.2
99.0
104.6 102.8 103.1 106.5 102.4 101.2 101.3
94.1
:
109.3 107.7 105.7 107.1 107.6 105.0 109.1 112.0 110.7 108.9 109.1
98.8
97.7
107.9 109.9 110.7 108.6 107.9 108.6 109.3 109.4 112.7 112.7 113.4
:
112.4 111.7 108.6 108.9 106.6 110.3 111.5 110.4 108.8 107.4 106.4 103.2
84.7 114.7 103.3 104.7 119.9 116.5 129.1 119.8 117.4 128.7 124.6 140.4
116.7 115.4 117.2 118.9 120.1 118.2 118.9 116.3 115.5 115.5 113.9 116.0
119.3 118.5 118.1 118.9 117.8 125.5 122.0 123.1 123.5 125.2 124.1 124.1

99.3 102.7 100.8

99.2 103.3

99.4 100.2

99.7 100.8

99.9

98.6

97.4

98.6

:

Source: DG ECFIN

Economic sentiment indicator

EA-13

114

112

110

108

106

104

102

100

114

112

110

108

106

104

102

100

06m09

06m10

06m11

06m12

07m01

07m02

07m03

07m04

07m05 07m06

07m07

07m08

The DG ECFIN conducts regular harmonised surveys for different sectors of the economies.
The  economic  sentiment  indicator  is  a  composite  indicator  made  up  of  the  individual  opinion  balances  of  the  five  confidence
indicators having different weights:  Industrial confidence indicator [weight 40%],  Service confidence indicator [weight 30%],
Consumer confidence indicator [weight 20%], Construction confidence indicator [weight 5%],  Retail trade confidence indicator
[weight 5%]

32

DETAILED TABLES

3.1.3

Economic sentiment indicator (continued)

Composite index

Seasonally adjusted data

2006

2007

06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07 07m08

LU
HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US
JP

82.3
:

88.2
:

89.2
:

89.0
:

88.1
:

89.6
:

96.8
:

82.1
:

87.4
:

95.1
97.2
:

96.3 100.2
:

97.5 101.0 103.5 104.8 106.3 105.7 110.8 107.0 109.3 108.5 104.8
87.9
92.1
91.9
:
:
:
113.6 116.1 115.3 115.6 113.9 116.5 116.5 116.2 118.2 117.6 117.0 116.3
119.4 119.6 121.6 120.5 122.2 123.1 123.3 125.1 125.1 125.7 123.8 124.5
116.3 120.3 123.0 126.2 127.5 132.1 129.5 133.2 133.6 137.0 137.6 133.5
99.1
:
121.9 114.4 115.6 117.2 113.8 121.0 123.7 124.8 126.5 126.9 130.5 126.9
104.5 117.3 112.9 115.7 112.2 109.3 113.2 111.9 118.2 116.4 121.8 115.9
111.1 110.1 112.1 114.1 113.4 112.8 116.1 115.5 114.7 115.6 110.6 108.5
113.6 118.0 119.3 116.8 117.7 118.0 119.4 122.9 123.5 122.3 124.0 120.4
106.2 102.2 110.7 110.8 104.0 109.3 110.9 110.0 113.7 115.5 108.9 113.8
-
-
-

99.2 101.0 100.8 101.6 102.0 101.9 100.9
:

98.6
:

-
-
-

-
-
-

-
-
-

-
-
-

-
-
-

-
-
-

-
-
-

-
-
-

-
-
-

-
-
-

-
-
-

:

:

:

:

:

:

:

Source: DG ECFIN - Directorate General of Economics and Finance

Economic sentiment indicator

EU-27

116

114

112

110

108

106

104

102

100

116

114

112

110

108

106

104

102

100

06m09

06m10

06m11

06m12

07m01

07m02

07m03

07m04

07m05

07m06

07m07

07m08

The economic sentiment indicator is probably the major coincident source of information of economic activity.
The economic sentiment indicator is calculated as an index with mean value of 100 and standard deviation of 10 over a fixed
standardisation sample. Currently, the moments are calculated over the period 1990-2006.
Data are presented as an index in the seasonally adjusted (SA) form.
Seasonal adjustment is performed by the DG ECFIN - Direction générale des affaires économiques et financières de la Commission
Européenne - by using the DAINTIES methods.

33

EUROSTATISTICS

3.1.4.a

Gross value added
Percentage change on previous period (t/t-1)

Seasonally adjusted data (at 1995 prices)

Agriculture

Industry

Construction

Trade, transport
& communic.

Financial serv. &
business activ.

Public
administration

2007

2007

2007

2007

2007

2007

07Q01 07Q02 07Q01 07Q02 07Q01 07Q02 07Q01 07Q02 07Q01 07Q02 07Q01 07Q02

1.7
1.5
1.1
:
-2.4
-7.5
0.8
-14.2
:
:
2.8
-0.2
4.8
0.3
1.2
9.2

-0.5
-0.8
-0.2
:
:
-18.9
-1.0
:
:
:
0.1
-0.3
:
:
:
-5.1

1.2
0.7
0.4
:
-0.6
-0.5
1.9
3.0
:
:
1.1
1.1
-0.9
-0.2
-0.5
-2.7

0.6
0.7
0.3
:
:
0.5
0.9
:
:
:
1.5
0.2
:
:
:
9.4

1.9
2.4
1.1
:
2.5
0.7
2.1
8.4
:
:
1.6
1.0
1.1
0.8
4.1
-0.9

-1.6
-1.3
1.2
:
:
2.5
-5.2
:
:
:
0.7
-0.2
:
:
:
5.9

0.5
0.7
0.6
:
6.6
3.0
-0.8
1.6
:
:
2.1
0.3
0.4
0.4
3.2
5.5

0.6
0.6
0.2
:
:
-2.2
1.2
:
:
:
0.4
0.2
:
:
:
2.6

0.8
1.1
1.1
:
4.8
1.0
0.8
4.8
:
:
0.5
0.6
0.6
2.1
1.2
7.7

0.9
1.1
1.2
:
:
0.2
1.0
:
:
:
0.6
0.7
:
:
:
-3.6

0.4
0.3
0.3
:
-0.3
-0.4
0.4
0.3
:
:
0.9
0.2
0.3
1.7
-0.7
1.4

Gross value added growth rates (t/t-1), 2007 q02

EA-13

EA-13
U-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV
LT

1.0

0.5

0.0

-0.5

-1.0

-1.5

-2.0

0.4
0.3
0.3
:
:
0.4
0.1
:
:
:
1.9
0.2
:
:
:
0.8

1.0

0.5

0.0

-0.5

-1.0

-1.5

-2.0

Agric.

Industry

Constr.

Trade

Financial serv. Public admin.

Gross  Value  Added  (GVA)  (ESA  1995,  8.11)  is  the  net  result  of  output  valued  at  basic  prices  less  intermediate  consumption
valued at purchasers’ prices. GVA is calculated before consumption of fixed capital. GVA is available in a breakdown by six main
industries according to NACE Rev.1
The  quarterly  growth  rates  show  the  change  compared  to  the  previous  quarter  (i.e.  2001Q4  vs.  2001Q3,  called  “quarter-on-
quarter”). They are meaningful only on the base of seasonally adjusted figures as otherwise seasonal fluctuations could hide volume
movements.

34

DETAILED TABLES

3.1.4.a

Gross value added (continued)
Percentage change on previous period  (t/t-1)

Seasonally adjusted data (at 1995 prices)

Agriculture

Industry

Construction

Trade, transport
& communic.

Financial serv. &
business activ.

Public
administration

2007

2007

2007

2007

2007

2007

07Q01 07Q02 07Q01 07Q02 07Q01 07Q02 07Q01 07Q02 07Q01 07Q02 07Q01 07Q02

LU
HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US
JP

1.5

1.0

0.5

0.0

-0.5

-1.0

-1.5

6.6
5.0
:
0.3
-0.5
2.2
-0.8
:
-0.5
-1.1
2.0
-0.8
0.8
1.1
-
-

:
:
:
:
-0.8
-0.9
:
:
:
0.6
:
-0.2
0.0
:
-
-

2.6
4.1
:
-0.2
2.5
0.5
1.8
:
2.4
0.6
-1.0
0.6
-0.1
-0.5
-
-

:
:
:
:
2.5
2.1
:
:
:
3.7
:
1.3
0.6
:
-
-

2.4
1.1
:
3.2
0.7
28.6
7.2
:
2.3
2.7
3.9
0.8
0.7
3.2
-
-

:
:
:
:
0.2
-14.8
:
:
:
1.2
:
2.1
1.0
:
-
-

2.1
0.3
:
1.6
0.4
2.3
1.4
:
2.3
-0.4
1.2
1.0
1.2
1.3
-
-

:
:
:
:
0.3
0.6
:
:
:
1.8
:
1.3
0.7
:
-
-

2.7
-0.3
:
1.8
1.0
7.9
-0.1
:
1.5
-0.7
1.9
0.5
2.1
2.0
-
-

:
:
:
:
1.0
1.7
:
:
:
-3.2
:
0.7
1.7
:
-
-

2.4
-4.4
:
0.0
-0.3
0.3
0.4
:
0.3
1.2
0.6
0.5
0.5
0.6
-
-

Gross value added growth rates (t/t-1), 2007 q02

EU-27

Agric.

Industry

Constr.

Trade

Financial serv. Public admin.

:
:
:
:
0.1
1.1
:
:
:
4.2
:
1.0
0.0
:
-
-

1.5

1.0

0.5

0.0

-0.5

-1.0

-1.5

GVA is available in a breakdown by six main industries according to NACE Rev. 1 (Statistical classification of economic activities
in the European Community). NACE A+B = Agriculture, hunting and forestry, fishing. Values are seasonally adjusted (SA). The
ESA 95 (European System of Accounts) regulation may be referred to for more specific explanations on methodology.
Please note that the sum of GVA over these branches (Total GVA) will equal GDP only after deducting FISIM and adding taxes
less subsidies on products.

35

EUROSTATISTICS

3.1.4.b

Gross value added
Percentage change on the corresponding period of the previous year (t/t-4)

Non-seasonally adjusted data (at 1995 prices)

Agriculture

Industry

Construction

Trade, transport
& communic.

Financial serv. &
business activ.

Public
administration

2007

2007

2007

2007

2007

2007

07Q01 07Q02 07Q01 07Q02 07Q01 07Q02 07Q01 07Q02 07Q01 07Q02 07Q01 07Q02

2.3
1.6
1.2
:
-22.4
-2.3
-0.8
-5.9
:
:
9.2
0.5
1.5
1.7
5.3
6.3

2.0
0.8
1.2
:
:
-17.0
-1.0
:
:
:
6.0
-0.2
:
:
:
1.9

3.3
3.0
2.7
:
1.9
-2.4
5.2
8.1
:
:
3.8
1.2
1.1
0.3
1.7
0.3

3.6
3.0
2.2
:
:
-2.8
5.3
:
:
:
4.4
0.2
:
:
:
4.3

8.0
8.4
6.0
:
17.8
13.4
16.3
14.6
:
:
4.5
3.1
3.2
3.5
17.0
26.2

2.7
3.2
5.3
:
:
7.3
0.3
:
:
:
4.3
1.8
:
:
:
17.3

3.4
4.2
2.2
:
16.1
5.7
3.3
13.5
:
:
6.1
1.8
2.4
3.9
12.8
11.8

2.6
2.8
2.5
:
:
0.8
2.7
:
:
:
4.3
0.7
:
:
:
10.7

3.3
3.8
3.5
:
8.8
4.0
3.2
10.7
:
:
2.9
2.4
3.6
6.2
12.8
16.2

2.9
3.0
1.3
:
:
2.8
3.2
:
:
:
2.2
2.1
:
:
:
8.8

1.2
1.4
1.4
:
1.9
2.2
0.5
3.9
:
:
3.5
1.1
0.8
3.3
6.5
5.1

Gross value added growth rates (t/t-4), 2007 q02

EA-13

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

4

2

0

Agric.

Industry

Constr.

Trade

Financial serv. Public admin.

1.4
1.4
1.4
:
:
1.7
0.5
:
:
:
5.3
0.6
:
:
:
4.8

4

2

0

Gross  Value  Added  (GVA)  (ESA  1995,  8.11)  is  the  net  result  of  output  valued  at  basic  prices  less  intermediate  consumption
valued at purchasers’ prices. GVA is calculated before consumption of fixed capital. GVA is available in a breakdown by six main
industries according to NACE Rev.
Quarterly growth rates presented here are calculated from raw data and show the change compared to the same quarter of the
previous year (i.e. 2001Q4 vs. 2000Q4, sometimes called “year-on-year”).

36

DETAILED TABLES

3.1.4.b

Gross value added (continued)
Percentage change on the corresponding period of the previous year (t/t-4)

Non-seasonally adjusted data (at 1995 prices)

Agriculture

Industry

Construction

Trade, transport
& communic.

Financial serv. &
business activ.

Public
administration

2007

2007

2007

2007

2007

2007

07Q01 07Q02 07Q01 07Q02 07Q01 07Q02 07Q01 07Q02 07Q01 07Q02 07Q01 07Q02

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

4

2

0

0.1
4.8
:
1.8
-0.2
-4.0
:
9.2
-4.3
2.4
8.2
-3.3
:
10.5
-
-

:
:
:
-0.8
-1.5
-6.6
:
-10.9
:
2.4
:
-4.0
:
:
-
-

5.9
9.1
:
-4.7
6.6
7.5
:
7.8
9.1
15.2
7.7
2.7
:
-2.6
-
-

:
:
:
-1.7
10.3
9.1
:
4.4
:
15.4
:
3.6
:
:
-
-

9.7
1.4
:
7.2
11.6
44.9
:
30.7
28.9
11.9
6.1
7.3
:
6.2
-
-

:
:
:
4.5
4.8
20.9
:
32.2
:
9.6
:
6.8
:
:
-
-

4.8
2.3
:
5.2
1.9
11.1
:
:
6.6
12.7
4.9
4.2
:
6.8
-
-

:
:
:
3.4
1.3
6.7
:
:
:
8.2
:
4.7
:
:
-
-

11.3
1.3
:
5.2
3.5
5.6
:
:
5.8
2.6
5.3
3.6
:
7.6
-
-

:
:
:
4.7
3.5
6.4
:
:
:
-0.4
:
3.5
:
:
-
-

3.7
-2.4
:
2.2
-0.1
1.9
:
:
2.0
9.7
2.7
1.9
:
2.3
-
-

Gross value added growth rates (t/t-4), 2007 q02

EU-27

Agric.

Industry

Constr.

Trade

Financial serv. Public admin.

:
:
:
2.1
0.2
3.2
:
:
:
11.7
:
2.9
:
:
-
-

4

2

0

GVA is available in a breakdown by six main industries according to NACE Rev. 1 (Statistical classification of economic activities
in the European Community). NACE A+B = Agriculture, hunting and forestry, fishing. Values are seasonally adjusted (SA). The
ESA 95 (European System of Accounts) regulation may be referred to for more specific explanations on methodology.
Please note that the sum of GVA over these branches (Total GVA) will equal GDP only after deducting FISIM and adding taxes
less subsidies on products.

37

EUROSTATISTICS

3.1.5

Industry
Growth index (2000=100)

Production index
total industry

2007

Seasonally adjusted data

Turnover index
mining, quarrying,
manufacturing

2007

New orders index
manufacturing industries
working on orders

2007

m04

m05

m06

m07

m04

m05

m06

m07

m04

m05

m06

m07

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

136

132

128

124

120

116

112

108

: 127.5 129.4 135.0
: 129.1 133.0 139.4
: 109.3 112.7 110.9
: 236.1 272.5 237.7
: 255.6 258.1 265.5
: 125.4 121.7 124.1
: 135.7 141.2 148.9

: 124.3 126.5 127.8
: 126.4 128.0 129.5
: 122.2 124.6 122.0
: 221.6 234.4 226.6
: 181.6 181.8 187.2
: 121.0 121.5 124.6
: 125.8 129.0 128.1

:
110.0 111.1 111.0
:
110.3 111.1 111.1
:
113.7 113.1 112.9
:
175.5 175.4 182.5
:
163.0 161.6 164.7
:
106.2 104.6 105.8
116.1 118.4 118.0
:
182.2 183.8 183.5 182.6 232.2 231.7 236.3 233.1 293.9 295.6 303.2 292.7
: 127.5 120.2 123.6
:
136.2 137.8 136.8
: 137.3 140.3 140.6
:
98.8 101.6 102.4
: 135.1 136.9 137.8
:
109.3 109.6 109.7
: 119.0 121.2 120.7
:
103.2 103.7 103.2
c
: 119.4 124.0
:
98.9
99.4
:
: 125.8 135.1
:
118.5 117.9 120.7
:
144.8 146.3 146.5
: 287.3 297.8 302.3
:
183.0 188.7 190.8 195.4 235.1 240.3 246.1

: 115.9 105.0 111.1
: 130.3 132.9 129.9
: 128.5 129.9 130.7
: 118.2 121.3 127.5
c
: 119.6 121.9
:
c
c
c
: 316.3 385.8 409.1
: 259.3 277.0 279.9

98.6

Industry growth index (2000=100)

EA-13

136

132

128

124

120

116

112

108

m04
Production index

m05
Turnover index

m06
New orders index

The Production Index provides a measure of the volume trend in value added at factor cost over a given reference period. It is a
business cycle indicator showing the output and activity of the industrial sector and measures changes in the volume of output at
close and regular intervals.
The  Turnover  Index  (manufacturing)  is  a  business  cycle  indicator  showing  the  monthly  evolution  of  the  market  of  goods  and
services in the industrial sector. It also records the evolution of turnover over longer periods of time. The turnover of industry index
is not deflated. It is therefore the objective of this indicator to measure the market activity in the industrial sector in value.
New  orders  refer  to  goods  and  services  that  are  to  be  provided  by  the  observation  unit,  including  those  originating  from  sub-
contractors. An order is defined as the value of the contract linking a producer and a third party in respect of the future deliveries
by the producer of goods and services. The order is accepted if, in the producer’s judgement, there is sufficient evidence for a valid
agreement. It is the objective of the New Orders Index to assess the future evolution of demand for products and services as an
indication of future production.

38

DETAILED TABLES

3.1.5

Industry (continued)
Growth index (2000=100)

Seasonally adjusted data

Production index
total industry

Turnover index
mining, quarrying, manufacturing

New orders index
manufacturing industries
working on orders

2007

2007

2007

m04

m05

m06

m07

m04

m05

m06

m07

m04

m05

m06

m07

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

142

138

134

130

126

122

118

114

110

106

:

:

:

:

:

:

: 158.4 157.3 163.5
: 156.8 160.0 162.3
:
:
: 121.8 122.9 127.8
: 139.5 143.4 141.3

: 132.6 119.7 139.3
: 184.0 209.1 194.8
:
:
: 115.3 112.7 117.1
: 149.2 151.8 151.0

:
118.1 117.2 119.5
:
151.4 151.2 155.3
:
:
:
102.4 103.9 106.9
:
131.8 134.0 132.5
156.0 158.1 157.3 159.7 181.8 183.7 186.7 187.3 259.5 265.1 268.6 287.7
101.8 105.6 104.8 102.0 116.1 117.7 118.1 114.9 126.9 133.9 124.4 124.6
:
135.4 144.6 141.6
:
133.0 131.4 134.7
:
158.0 161.3 160.8
:
117.6 119.0 119.5 120.2 130.0 132.4
:
115.3 115.7 116.2
:
95.9
95.8
:
91.5
87.9
:
109.0 108.8 109.4
:
107.9 107.2 108.4

: 430.2 471.8 463.6
:
:
: 268.0 279.0 276.1
:
c
: 126.9 133.3 127.2
c
:
:
:
:
:
:
:

: 442.5 463.2 468.3
:
:
: 212.2 217.8 217.5
:
: 127.7 127.9 128.2
: 108.2 109.3 110.0
: 117.0 123.2 121.8
:
:
:
:

95.2
95.5

c
:
:
:

c
:
:
:

:
:

:
:

c

c

:

:

:

:

Industry growth index (2000=100)

EU-27

142

138

134

130

126

122

118

114

110

106

m04
Production index

m05
Turnover index

m06
New orders index

Indices in STS (short term statistics) are expressed with reference to a base value and this base value is representative for a base
year. For a monthly series the base value is the monthly average during the base year and for a quarterly series the base value is the
quarterly average during the base year. By convention the index value of 100 is assigned to the base value.

39

EUROSTATISTICS

3.1.6.a

Industrial production
Percentage change on previous period (t/t-1)

Data adjusted by working days - Seasonally adjusted data

2006

2007

06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

2.0

1.5

1.0

0.5

0.0

-0.5

-1.0

-1.5

1.6
1.2
1.2
3.5
-0.8
-1.5
1.2
1.6
-0.9
2.3
1.3
0.9
0.8
2.5
1.6
0.0

-1.0
-0.5
-0.2
-1.6
1.2
-0.8
-0.4
-1.7
-1.0
-3.2
-0.6
-0.7
-1.1
0.5
-1.4
2.3

0.2
0.2
0.7
0.4
1.3
3.5
-0.2
1.4
-2.7
2.9
0.5
-0.1
1.1
-1.4
1.1
-2.5

0.3
0.3
-0.7
0.7
0.9
1.4
1.6
-0.1
-4.5
-2.6
0.1
-0.3
0.3
0.3
-1.4
0.3

1.3
1.0
1.8
0.0
0.0
-2.5
0.3
1.7
15.6
2.9
1.0
1.1
1.2
1.9
2.9
-5.4

-0.7
-0.5
0.2
-1.3
2.7
3.4
0.1
-0.8
6.5
1.3
0.1
-0.5
-1.4
-1.7
-2.3
5.9

0.6
0.4
0.0
5.7
1.0
-2.6
1.1
0.6
-4.1
-1.4
-0.5
1.1
-0.7
0.9
0.7
0.5

0.6
0.5
0.8
0.3
1.4
-1.4
0.4
1.3
0.2
-0.1
0.6
0.3
0.4
2.6
0.7
-0.3

-0.9
-0.5
0.2
2.1
-1.0
-2.1
-1.2
0.8
-7.4
-3.0
-0.2
-1.0
-0.6
0.1
-1.5
4.2

1.0
0.7
-0.5
0.0
-0.8
-1.5
2.0
0.9
1.2
2.9
0.3
0.5
0.8
-0.5
1.1
3.1

-0.1
0.0
-0.2
4.1
1.9
1.6
-0.3
-0.2
-0.7
0.7
0.1
-0.5
-0.5
2.3
0.2
1.1

Industrial production growth rates (t/t-1)

EA-13

:
:
:
:
:
2.9
:
-0.5
:
:
:
:
:
:
0.2
2.4

2.0

1.5

1.0

0.5

0.0

-0.5

-1.0

-1.5

06m08

06m09

06m10

06m11

06m12

07m01

07m02

07m03

07m04

07m05

07m06

The Industrial Production Index provides a measure of the volume trend in value added at factor cost. Value added at factor cost
can be calculated from turnover (excluding VAT and other similar deductible taxes directly linked to turnover)
+ capitalised production + other operating income +/- changes in stocks
- the purchases of goods and services
- other taxes on products which are linked to turnover but not deductible
- the duties and taxes linked to production.
The  growth rates show the change compared to the previous month (i.e. 2004m2 vs. 2004m01). They are meaningful only on the
base of seasonally adjusted figures as otherwise seasonal fluctuations could hide volume movements.

40

DETAILED TABLES

3.1.6.a

Industrial production (continued)
Percentage change on previous period (t/t-1)

Data adjusted by working days - Seasonally adjusted data

2006

2007

06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

1.5

1.0

0.5

0.0

-0.5

-1.0

2.0
-1.7
-
-0.7
1.0
-0.6
3.9
0.0
0.0
1.7
-2.1
1.5
0.3
1.3
0.2
1.3

-1.9
3.1
-
-0.5
-1.2
2.4
0.7
1.9
1.6
-0.1
0.6
0.3
0.5
-2.3
-0.3
-0.7

0.8
0.6
-
-1.0
0.2
0.7
-2.6
1.8
0.0
0.3
-2.1
0.1
-0.8
-1.9
-0.1
1.6

1.2
0.4
-
2.0
0.9
-0.3
2.5
-1.7
2.1
0.8
1.3
1.2
0.5
0.8
-0.4
0.4

-0.9
1.8
-
2.3
1.0
1.5
0.8
4.2
0.3
1.6
0.9
2.6
-0.3
2.7
0.6
1.2

0.8
0.7
-
-4.7
-1.8
2.6
-1.0
-3.2
0.2
3.3
-2.2
-1.9
0.1
-0.6
-0.5
-2.7

1.2
-0.4
-
2.3
2.0
0.3
-1.7
3.6
0.1
0.3
1.3
0.8
-0.4
-0.4
0.8
0.7

-0.9
-0.3
-
-0.6
1.4
1.3
3.2
-0.9
2.1
1.4
0.1
1.0
0.3
-1.4
-0.1
-0.1

-1.1
0.3
-
-0.7
-1.1
-2.0
-4.6
-4.2
0.1
0.6
-0.4
-0.7
0.3
3.5
0.4
0.3

-0.8
-0.1
-
1.5
1.7
1.3
3.7
6.8
-1.2
2.1
1.2
0.3
0.5
-4.2
-0.1
-0.6

2.0
2.7
-
2.9
-1.1
-0.5
-0.8
-2.1
2.5
-0.3
0.4
0.7
0.0
-3.9
0.5
1.1

Industrial production growth rates (t/t-1)

EU-27

:
:
-
:
:
1.5
-2.7
:
:
:
0.6
0.3
-0.1
:
:
:

1.5

1.0

0.5

0.0

-0.5

-1.0

06m08

06m09

06m10

06m11

06m12

07m01

07m02

07m03

07m04

07m05

07m06

The Industrial Production Index is considered as the major cyclical indicator of the economy.
It is the result of an aggregation process of elementary indices covering very detailled products categories.
For the calculation of the euro area and the EU-15 aggregates, Eurostat applies the so-called direct method. Working day adjusted
data from Member States are used to calculate a weighted mean in order to compile a working day adjusted euro area and EU-15
series. Missing components are estimated with ARIMA models. Seasonally adjusted  euro area and EU-15 series are then produced
using TRAMO/SEATS. The weight for aggregating this index between Member States or sectors comes from information from the
structural business statistics or from other statistics. Weights are revised every five years: the current base year is 2000.

41

EUROSTATISTICS

3.1.6.b

Industrial production
Percentage change on the corresponding period of the previous year (t/t-12)

Data adjusted by working days - Non-seasonally adjusted data

2006

2007

06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

6

5

4

3

2

1

0

5.7
5.2
6.1
10.5
9.3
4.1
7.9
12.4
5.9
2.2
5.1
1.8
3.5
1.5
7.8
5.4

3.5
3.5
3.2
8.2
9.2
-0.3
5.9
3.4
6.4
-3.3
3.9
-0.3
1.3
3.0
3.5
3.3

4.2
4.1
8.9
3.7
10.6
5.0
4.5
7.2
2.8
1.9
5.3
3.0
4.3
1.4
5.1
6.2

3.0
3.4
0.9
4.2
10.1
7.5
6.8
6.3
-11.1
-2.5
4.1
-1.7
2.6
0.6
1.4
-1.4

5.0
4.8
4.5
2.4
10.1
0.8
7.0
6.0
14.8
2.5
4.4
-0.1
4.9
3.5
7.0
-7.9

3.2
3.3
4.4
2.0
10.8
5.4
5.8
8.6
8.7
4.9
4.9
-0.6
1.7
1.4
1.4
0.1

4.1
3.9
3.6
8.9
13.1
2.5
6.7
9.5
23.0
2.9
3.6
2.4
-0.6
-0.2
2.0
2.3

4.2
4.1
3.6
10.2
13.0
1.9
7.8
8.2
12.6
1.1
4.2
0.6
1.6
5.5
2.0
-4.7

2.9
3.0
5.0
10.4
11.6
0.4
4.9
8.1
1.4
0.2
3.8
1.6
1.0
2.1
-0.2
4.4

2.6
2.7
1.6
7.0
5.5
-3.9
6.2
6.2
-5.0
0.7
2.0
-0.2
0.9
0.8
1.7
0.2

2.2
2.5
1.9
14.6
8.7
-1.6
5.7
5.7
0.3
1.3
2.0
-1.3
-0.1
5.1
1.1
5.0

Industrial production growth rates (t/t-12)

EA-13

:
:
:
:
:
-0.4
:
4.9
:
:
:
:
:
:
1.6
12.2

6

5

4

3

2

1

0

06m08

06m09

06m10

06m11

06m12

07m01

07m02

07m03

07m04

07m05

07m06

The Industrial Production Index provides a measure of the volume trend in value added at factor cost. Value added at factor cost
can be calculated from turnover (excluding VAT and other similar deductible taxes directly linked to turnover)
+ capitalised production + other operating income +/- changes in stocks
- the purchases of goods and services
- other taxes on products which are linked to turnover but not deductible
-the duties and taxes linked to production.
The growth rates presented here are calculated from raw data and show the change compared to the same month of the previous
year (i.e. 2004m02 vs. 2003m02, sometimes called “year-on-year”).

42

DETAILED TABLES

3.1.6.b

Industrial production (continued)
Percentage change on the corresponding period of the previous year (t/t-12)

Data adjusted by working days - Non-seasonally adjusted data

2006

2007

06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

6

5

4

3

2

1

0

1.5
9.2
-
0.3
11.6
12.6
5.9
7.4
9.9
14.5
8.6
5.2
0.8
-3.2
4.6
5.9

0.2
11.6
-
0.1
9.0
13.9
4.1
6.9
8.2
9.5
8.6
3.5
0.7
-5.1
5.9
4.7

1.9
10.4
-
0.6
7.6
12.5
3.4
9.4
6.5
11.3
1.7
2.2
0.7
-4.7
4.5
7.2

2.5
11.0
-
-0.4
7.4
9.7
5.9
7.4
7.7
9.9
4.7
5.2
1.5
-5.2
3.0
4.8

1.7
13.7
-
0.9
12.3
10.4
3.5
8.2
7.5
8.8
5.8
11.3
0.9
-2.7
2.9
4.6

-1.4
12.5
-
-3.7
4.9
15.4
5.8
2.8
8.5
17.7
0.0
3.9
-0.4
-2.2
2.6
3.8

3.9
10.7
-
-2.2
7.0
13.0
4.8
10.0
9.3
15.3
1.8
6.8
-1.1
-1.6
2.9
2.6

2.1
7.5
-
-3.9
9.2
13.7
2.3
9.2
11.6
12.6
1.1
8.2
-0.1
-4.1
1.9
1.9

3.3
8.1
-
-2.9
5.5
10.3
2.9
1.4
10.7
14.9
-0.7
4.4
0.3
3.6
2.4
2.2

-0.6
5.8
-
0.9
6.7
8.1
2.2
6.7
3.9
17.5
-0.9
3.8
1.0
-3.8
1.6
3.6

4.0
8.8
-
0.6
3.8
7.8
-0.2
5.3
10.0
12.0
0.6
6.1
0.6
-8.5
1.3
1.0

Industrial production growth rates (t/t-12)

EU-27

:
:
-
:
:
8.1
0.7
6.3
:
:
0.5
6.0
0.1
:
:
:

6

5

4

3

2

1

0

06m08

06m09

06m10

06m11

06m12

07m01

07m02

07m03

07m04

07m05

07m06

The industrial production index is considered as the major cyclical indicator of the economy.
It is the result of an aggregation process of elementary indices covering very detailled products categories.
For the calculation of the euro area and the EU-15 aggregates, Eurostat applies the so-called direct method. Working day adjusted
data from Member States are used to calculate a weighted mean in order to compile working day adjusted euro area and EU15
series. Missing components are estimated with ARIMA models. Seasonally adjusted euro area and EU15 series are then produced
using TRAMO/SEATS. The weights for aggregating this index between Member States or sectors comes from information from the
structural business statistics or from other statistics. Weights are revised every five years: the current base year is 2000.

43

EUROSTATISTICS

3.1.7.a

Production in manufacturing
Percentage change on previous period (t/t-1)

Data adjusted by working days - Seasonally adjusted data

2006

2007

06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

3.0

2.0

1.0

0.0

-1.0

-2.0

2.1
1.6
0.3
3.5
-1.3
-1.4
1.6
2.1
-0.4
0.9
1.6
1.0
1.6
1.2
3.2
-1.6

-1.2
-0.7
1.8
-0.1
1.8
1.4
-0.4
0.1
-1.1
-3.2
-0.9
-0.7
-1.4
1.1
-2.8
4.6

0.3
0.2
1.0
0.8
2.9
2.1
0.0
1.4
-3.1
3.9
0.6
0.1
1.8
-0.6
2.0
-3.5

0.5
0.5
-1.0
2.3
0.2
0.7
1.7
-0.7
-6.0
-4.0
0.7
-0.6
0.0
0.6
-1.3
-0.5

1.3
1.4
0.1
0.0
-0.5
-2.1
0.3
0.1
18.9
5.0
0.0
1.0
1.5
1.6
1.0
-2.4

-0.1
-0.3
1.0
-0.6
5.2
4.7
0.9
1.6
6.6
0.1
1.4
-0.3
-1.4
-2.5
-2.1
3.4

0.5
0.3
-0.2
3.5
0.1
-1.8
0.8
0.2
-4.9
-1.4
-0.4
1.4
-0.7
1.7
-0.1
-0.2

0.4
0.6
0.2
1.2
2.0
2.3
0.4
0.5
0.5
0.3
0.7
-0.2
0.4
2.6
2.7
1.2

-1.1
-1.0
0.0
-4.2
-1.7
-2.7
-1.3
-0.5
-7.9
-4.5
-1.3
-0.4
-1.0
-0.7
-3.4
4.0

0.8
0.7
0.0
2.8
1.0
-2.9
1.9
0.6
1.0
4.4
0.6
0.5
0.6
-0.4
1.5
3.0

-0.1
0.0
-0.2
-1.3
-0.4
1.9
-0.5
0.1
-0.6
0.2
0.6
-1.0
-0.7
2.0
0.3
2.2

Production in manufacturing growth rates (t/t-1)

EA-13

:
:
:
:
:
2.3
:
-0.2
:
:
:
:
:
:
-0.3
1.8

3.0

2.0

1.0

0.0

-1.0

-2.0

06m08

06m09

06m10

06m11

06m12

07m01

07m02

07m03

07m04

07m05

07m06

According to the Short Term Statistics regulation (Council Regulation N° 1165/98 of 19 May 1998), all Member States are obliged
to transmit data at 2-digit level for Mining and quarrying (Section C), Manufacturing (Section D), and Electricity, gas and water
supply (Section E) of the NACE Rev.1. classification, except Division 41 (Collection, purification and distribution of water) and
Group 40.3 (Steam and hot water supply). Section D should also be transmitted at 3-digit and 4-digit level by those Member States
that have a total value added of Section D (Manufacturing) NACE Rev.1 that represents more than 5% of the European Union
total.
The  growth rates show the change compared to the previous month (i.e. 2004m2 vs. 2004m01). They are meaningful only on the
base of seasonally adjusted figures as otherwise seasonal fluctuations could hide volume movements.

44

DETAILED TABLES

3.1.7.a

Production in manufacturing (continued)
Percentage change on previous period (t/t-1)

Data adjusted by working days - Seasonally adjusted data

2006

2007

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

3.0

2.0

1.0

0.0

-1.0

-2.0

06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07
:
:
-
:
:
1.2
-4.2
:
:
:
1.0
-0.2
-0.3
:
:

0.6
0.1
-
1.0
0.6
-0.2
2.1
-0.8
2.1
1.0
1.6
1.1
0.2
-0.5
-0.2

0.3
-1.2
-
1.3
1.5
0.2
-0.9
1.7
0.1
-3.7
1.3
1.1
-0.8
-0.1
-0.1

-1.0
6.2
-
1.2
-1.1
3.2
2.7
2.1
2.3
-1.3
0.5
0.4
0.0
0.1
0.0

2.2
-4.3
-
-1.7
1.2
-1.0
3.8
-0.1
-0.6
4.4
-1.9
2.1
0.7
0.8
0.4

-1.3
-1.3
-
-1.1
2.3
1.1
3.8
8.4
-1.0
4.0
1.2
0.7
0.3
1.1
0.0

0.9
1.4
-
0.9
0.5
1.3
-4.4
2.3
-0.4
1.0
-2.0
-0.9
-0.2
2.1
-0.8

2.2
4.1
-
1.1
-1.9
-0.6
0.0
-2.4
3.0
-1.8
0.7
0.8
0.1
-1.0
0.6

-1.5
-0.8
-
-1.0
1.0
1.0
3.8
-0.1
2.1
2.0
0.7
1.1
0.7
0.8
0.7

-0.3
0.0
-
-0.6
-1.4
-2.9
-4.7
-6.0
0.0
-0.7
-0.6
-1.4
0.4
0.0
0.2

0.8
0.7
-
0.1
-1.0
2.7
0.3
-0.6
0.8
8.3
-2.7
-2.9
-0.3
-0.6
-0.6

1.1
2.6
-
1.1
1.5
2.6
0.3
2.0
0.5
1.9
1.6
3.2
0.0
1.5
1.1

1.1

-0.5

1.5

0.4

0.7

-2.1

0.7

-0.4

-0.2

-0.3

1.2

:

Production in manufacturing growth rates (t/t-1)

EU-27

06m08

06m09

06m10

06m11

06m12

07m01

07m02

07m03

07m04

07m05

07m06

3.0

2.0

1.0

0.0

-1.0

-2.0

45

EUROSTATISTICS

3.1.7.b

Production in manufacturing
Percentage change on the corresponding period of the previous year (t/t-12)

Data adjusted by working days - Non-seasonally adjusted data

2006

2007

06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

7

6

5

4

3

2

1

0

6.1
6.0
5.4
9.2
9.8
5.0
8.5
11.7
5.9
1.6
5.4
2.4
4.0
-1.1
8.2
6.5

3.8
4.1
3.5
9.8
9.6
1.1
6.2
8.9
7.4
-3.9
3.6
-0.2
1.6
2.1
1.9
5.7

4.8
5.0
13.1
7.8
13.5
5.6
5.1
11.5
2.8
3.0
5.1
3.3
5.0
1.2
4.8
7.4

4.0
4.5
4.5
8.3
11.1
7.2
7.6
7.4
-12.3
-3.4
5.5
-1.0
3.6
1.3
2.3
-0.8

6.2
6.3
1.9
4.2
9.2
0.7
8.2
6.0
16.3
3.5
3.7
0.8
7.3
4.2
4.4
-3.6

5.5
5.5
7.2
9.4
12.7
7.5
8.1
12.1
9.1
5.9
6.2
0.8
4.1
-0.3
2.2
3.1

6.0
5.7
3.9
14.2
15.0
5.3
8.3
11.7
24.7
3.4
5.1
3.9
0.6
0.5
1.0
3.3

5.8
5.8
2.6
13.8
14.4
8.9
9.3
8.3
13.3
1.1
5.4
1.3
2.9
7.0
2.4
-1.0

3.9
4.0
6.7
9.1
14.4
7.9
5.9
6.6
1.7
-1.7
3.6
2.3
1.0
1.2
-1.5
5.7

2.9
3.1
0.4
7.1
11.7
0.6
6.8
4.7
-5.6
1.7
2.0
0.0
0.4
0.1
0.0
0.7

2.6
2.9
2.0
6.7
9.3
3.1
6.3
4.1
0.0
0.3
2.7
-1.3
-0.4
4.7
-0.2
8.1

Production in manufacturing growth rates (t/t-12)

EA-13

:
:
:
:
:
4.3
:
4.4
:
:
:
:
:
:
0.3
13.0

7

6

5

4

3

2

1

0

06m08

06m09

06m10

06m11

06m12

07m01

07m02

07m03

07m04

07m05

07m06

According to the Short Term Statistics regulation (Council Regulation N° 1165/98 of 19 May 1998), all Member States are obliged
to transmit data at 2-digit level for Mining and quarrying (Section C), Manufacturing (Section D), and Electricity, gas and water
supply (Section E) of the NACE Rev.1. classification, except Division 41 (Collection, purification and distribution of water) and
Group 40.3 (Steam and hot water supply). Section D should also be transmitted at 3-digit and 4-digit level by those Member States
that have a total value added of Section D (Manufacturing) NACE Rev.1 that represents more than 5% of the European Union
total.
The growth rates presented here are calculated from raw data and show the change compared to the same month of the previous
year (i.e. 2004m02 vs. 2003m02, sometimes called “year-on-year”).

46

DETAILED TABLES

3.1.7.b

Production in manufacturing (continued)
Percentage change on the corresponding period of the previous year (t/t-12)

Data adjusted by working days - Non-seasonally adjusted data

2006

2007

06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

7

6

5

4

3

2

1

0

1.6
9.9
-
1.3
11.8
14.0
5.2
7.9
10.9
18.0
6.3
10.2
1.9
6.0
:
5.5

1.1
12.8
-
1.2
9.5
15.7
4.7
7.7
8.5
12.2
6.4
8.2
1.7
4.0
:
5.9

3.0
11.7
-
3.3
8.7
14.3
2.7
10.4
7.0
14.9
0.1
4.3
2.2
7.4
:
6.2

3.4
12.3
-
4.1
8.0
11.5
4.2
9.3
8.1
13.0
3.4
6.9
3.1
4.7
:
6.4

5.7
15.2
-
5.2
13.0
13.1
0.4
10.9
8.4
12.2
6.6
13.8
3.3
6.1
:
5.2

2.8
14.3
-
4.9
8.1
19.1
4.8
5.0
10.0
24.9
-0.2
4.0
1.3
4.0
:
3.8

7.4
12.2
-
6.1
9.2
15.9
5.4
12.5
11.1
20.3
1.4
7.6
-0.3
4.6
:
2.6

4.5
8.8
-
4.9
10.4
16.4
3.5
10.9
12.6
15.7
1.7
9.2
1.0
5.4
:
2.6

5.6
9.2
-
4.8
6.6
11.6
6.3
2.1
11.8
18.1
-0.5
3.8
1.1
6.2
:
2.9

-0.2
5.6
-
2.1
8.0
9.0
3.6
7.4
5.0
18.7
-0.8
4.1
1.2
5.1
:
2.8

6.4
9.6
-
1.2
4.6
8.8
0.8
4.7
12.0
15.6
1.4
6.5
0.7
5.0
:
1.3

Production in manufacturing growth rates (t/t-12)

EU-27

06m08

06m09

06m10

06m11

06m12

07m01

07m02

07m03

07m04

07m05

07m06

:
:
-
:
:
8.4
1.5
7.0
:
:
2.5
4.6
-0.1
:
:
:

7

6

5

4

3

2

1

0

47

EUROSTATISTICS

3.1.8.a

Industrial production
Percentage change on previous period (t/t-1)

Data adjusted by working days - Non-seasonally adjusted data (at 1995 prices)

Energy

2007

Intermediate
goods

Capital goods

Consumer durables

Consumer
non-durables

2007

2007

2007

2007

m05 m06 m07 m05 m06 m07 m05 m06 m07 m05 m06 m07 m05 m06 m07

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

 2.0

1.0

0.0

-1.0

:
:
:
:
:

0.5
2.8
0.3
2.5
0.9
0.2
-1.0 16.0
1.1
-2.1
0.0
6.4
:
3.3
2.2
3.2
-1.7 -0.7
:
7.7 -4.8
:
1.7
0.4
:
-0.8 -3.9
:
0.8
2.2
:
4.4 -1.8
:
0.4
2.7
10.7 -3.5
0.5
-19.6 16.1 13.5

0.9
0.2
0.2
0.6
1.1 -1.2
4.4 -1.6
1.2 -2.6
7.3 -2.3 -0.1
0.8
2.1
1.1
0.6
-5.0 -2.9
0.8
3.6
-0.1
0.9
0.7 -1.3
0.4
0.8
0.9
3.5
1.5 -0.1
9.6 -5.2

8.4 -1.4

:
:
:
:
:

:
:
:
:
:

:
:
:
:
:
4.7
:

1.1 -0.1
0.0
1.0
-2.6
2.8
6.2 -3.6
1.7
0.7
2.5
2.9 -5.3
2.1 -0.9
3.3 -2.5 -8.4 -2.2
-2.0

:
1.2
2.3
:
: 17.4 -5.1
0.4
:
1.3
-0.7 -0.1
:
1.2 -1.0
:
5.6
2.2
:
1.7 14.6 -3.5
2.2 16.9 -3.6 -3.4

1.0 -7.9
4.0

:
:
:
:
:
:

1.8 -0.2
0.9
0.9
0.1
-2.0
4.1
0.0
0.7
-1.7
1.3 -2.1
4.8 -1.1

7.8 -3.9
5.7 -1.1
2.7
-3.1
1.3
-0.9
1.6 -0.8
3.9 -4.4

:
0.5 -0.4
:
:
:
:
:
:
3.5 -4.2
7.8 -1.5

0.6 -0.3
0.5 -0.2
2.2
0.2
-1.8
1.5
0.7 -1.6

:
:
:
:
:
3.9 -2.1
0.6 -2.8
:
1.6 -0.1 -2.8
:
9.1 -1.8
:
3.2
0.0
:
1.3 -1.1
:
0.8 -0.7
:
-0.2 -1.5
1.8
-0.6
:
0.6 -2.8
0.4
0.4 -3.4
6.5

Industrial production growth rates (t/t-1), 2007 m06

EA-13

 2.0

1.0

0.0

-1.0

Energy

Intermediate goods Capital goods

Consumer
durables

Consumer
non-durables

The definition of Main Industrial Groupings (MIGS) is based on the statistical classification of economic activities in the European
Community, Council Regulation (EEC) No. 3037/90 of 9 October 1990 (NACE rev. 1).
It uses the level of Groups (3 digits) for distinguishing between the Main Industrial Groupings (MIGS).
The  growth rates show the change compared to the previous month (i.e. 2004m2 vs. 2004m01). They are meaningful only on the
base of seasonally adjusted figures as otherwise seasonal fluctuations could hide volume movements.

48

DETAILED TABLES

3.1.8.a

Industrial production (continued)
Percentage change on previous period (t/t-1)

Data adjusted by working days - Non-seasonally adjusted data (at 1995 prices)

Energy

2007

Intermediate
goods

Capital goods

Consumer durables

Consumer
non-durables

2007

2007

2007

2007

m05 m06 m07 m05 m06 m07 m05 m06 m07 m05 m06 m07 m05 m06 m07

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

 2.0

1.0

0.0

-1.0

:
2.0
5.5
:
6.1
-14.8
-
-
-
:
5.2
5.0
:
2.6
1.1
2.7
-0.4
0.6
8.9
1.6 -5.2
:
4.8
7.2
:
-2.7 -4.3
3.2 -7.4
:
1.8 10.8 -0.2
0.1
1.0
-1.2
0.8
1.8 -0.6
:
-5.9 -3.3
:
:
:
:

:
:

:
1.1
-1.7
:
3.1
0.8
-
-
-
:
-0.4
1.0
:
1.7 -1.4
0.6
0.1 -3.0
2.0 -6.0
4.2
:
6.8 -2.1
:
0.5 -0.3
:
3.7 -0.9
2.4
0.7
0.3
1.4
0.1
0.2
0.3 -0.2
0.3
:
-0.3 -0.3
:
:
:
:

:
:

c

:
0.1 28.0
:
1.7
2.6
-
-
-
:
1.3
0.1
:
1.1 -1.9
0.5 -0.1
4.2
6.3 -0.7 -1.4
:
7.9 -0.8
:
3.5
1.3
:
8.6 -1.8
0.8
3.5
0.3
2.2
1.1
1.7
0.3 -0.1 -1.2 -1.1
2.7
:
:

:
c
:
-3.1 12.0
-
-
-
:
-4.5
5.3
:
6.2 -1.0
2.5
4.9 -0.1
1.9 -2.8 -0.6
:
1.4 -5.0
:
-0.2 -2.4
0.9 -5.9
:
1.4
1.0
0.1 -1.8
3.8
4.6 -2.0
:
:

0.9
:
:

:
-1.5 -0.3
:
5.3 -4.4
-
-
-
:
-0.3
3.0
:
2.9 -2.6
1.8 -1.0
2.3
3.4 -2.8 -3.7
:
4.2 -1.0
:
8.9
-6.6
:
1.6 -0.4
0.3
4.0
0.0 -3.8
0.4
:
:
:

3.1 -0.5
1.0
6.8
0.4 -0.5
0.0
4.8 -3.5
:
:
:
:
:

:
:
:

:
:

:
:

Industrial production growth rates (t/t-1), 2007 m06

EU-27

Energy

Intermediate goods Capital goods

Consumer
durables

Consumer
non-durables

 2.0

1.0

0.0

-1.0

49

EUROSTATISTICS

3.1.8.b

Industrial production
Percentage change on the corresponding period of the previous year (t/t-12)

Seasonally adjusted data (at 1995 prices)

Energy

2007

Intermediate
goods

Capital goods

Consumer durables

Consumer
non-durables

2007

2007

2007

2007

m05 m06 m07 m05 m06 m07 m05 m06 m07 m05 m06 m07 m05 m06 m07

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

8.0

4.0

0.0

-4.0

0.8

:
:
:
:
:

0.3
0.6

4.1
:

3.9
4.9
2.2
8.8

2.0 -0.6
0.5 -1.0
2.3
0.7
21.0 40.3
0.9
-24.4 -25.0 -19.7
-0.1 -1.0
:
16.2 18.9 15.8
7.1
4.1
1.1
4.3
3.9 -2.0
1.2 -1.2
3.0
8.7
6.4
3.5
13.6
5.3
-30.4 -11.6

2.5
:
2.8
:
2.2
:
:
0.3
: 11.6
3.5
7.6
1.7

4.1
:
5.0
:
8.0
:
:
9.4
: 15.0 16.2

2.6
2.7
4.4
3.8
6.7
1.6
7.5
1.4
: -19.6 -16.5
0.5
:
-1.4
0.3
:
1.5
0.9 -1.1
:
0.9
-0.8
:
3.4
-0.6
:

:
1.7
2.8
:
: -12.2 -10.4
: 24.9 31.7
7.4 -1.8
:
0.8 -4.2
6.3 11.0
2.0
7.3
2.0
1.3
:
7.3
3.9 15.0 10.6
5.8
2.2
0.9
8.1
4.1
5.7
-3.4 -2.2
1.0
2.9
9.3
4.8
5.7 -1.2 -2.5 -0.2 10.2 -5.1
5.1 11.7

:
5.5 10.0 13.4 10.3
:
:
:
:
:
:
1.7 -4.3 -7.0 -9.2

:
1.7
2.3
:
1.2
1.7
:
6.2
1.6
:
5.6
0.9
:
3.3
8.7
2.8 -0.9
3.7 -3.3
1.8
:
4.3
1.9 -0.8
2.4
:
8.0 15.4
:
0.8
2.9
:
1.3
3.2
:
0.4
2.4
:
-2.5 -4.6
4.8
0.3
:
4.0 -0.6
2.0
9.0 13.1 17.4 14.8 11.1

9.8
: 16.2
1.4
4.0
:
-0.7
:
5.4
-6.0 -2.9
:
1.2
1.9
:
1.8
-0.8
:

8.3 14.9 41.8 35.9 28.5 -1.4

:
:
:
:
:
:

Industrial production growth rates (t/t-12), 2007 m06

EA-13

8.0

4.0

0.0

-4.0

Energy

Intermediate goods Capital goods

Consumer
durables

Consumer
non-durables

The definition of Main Industrial Groupings (MIGS) is based on the statistical classification of economic activities in the European
Community, Council Regulation (EEC) No. 3037/90 of 9 October 1990 (NACE rev. 1).
It uses the level of Groups (3 digits) for distinguishing between the Main Industrial Groupings (MIGS).
The  growth rates show the change compared to the previous month (i.e. 2004m2 vs. 2004m01). They are meaningful only on the
base of seasonally adjusted figures as otherwise seasonal fluctuations could hide volume movements.

50

DETAILED TABLES

3.1.8.b

Industrial production (continued)
Percentage change on the corresponding period of the previous year (t/t-12)

Seasonally adjusted data (at 1995 prices)

Energy

2007

Intermediate
goods

Capital goods

Consumer durables

Consumer
non-durables

2007

2007

2007

2007

m05 m06 m07 m05 m06 m07 m05 m06 m07 m05 m06 m07 m05 m06 m07

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

8.0

4.0

0.0

-4.0

:
:
-
:
:

-8.5 -3.8
-0.6 -1.2

:
:

3.9
2.3
-
0.5
5.0
6.3
3.0
7.7
5.9
4.4

2.0
-7.8 -10.0
2.7
3.4
-5.5
-
-
-
2.1
-1.7 -6.3
7.7
0.3
-2.2
1.2 12.2
-1.9 -0.7
6.4
-7.6 -7.6 -4.8
8.9
1.3
-7.6
6.6
6.6
:
-9.7 -12.3
3.8 -14.1
5.8
:
-1.0 -7.9 -14.4 -2.9 -4.9 -0.1 -1.3
2.5
2.3
1.2
0.5 -1.1
2.0
-6.9 -12.1
:
:
:
:

9.2 10.8
1.3
:
:
:

:
-3.1 25.6
: 13.0 16.2
-
-
-
4.9 -1.1
:
4.4
8.9
:

:
:
c
c
:
: 13.5 31.4
-
-
-
-
:
7.3
-2.8
:
:
0.8
2.4
:
7.5 17.7 19.6
7.5 13.6 14.0 15.0
3.4
5.0
5.6
1.4 -1.2
0.9
1.8
6.9 -0.9 -11.4 -4.1
7.3 11.6 10.4
:
0.2 -3.0
: 11.1 20.1
:
: 40.9 36.1
:
: 51.4 39.1
8.3

:
5.0
0.9
:
3.2
8.1
8.2
5.0 10.4
0.9 -2.2 -4.7
9.4
5.2
7.3
:
-0.8 18.6
:
2.9
1.9
7.4
4.1 13.0 15.7 12.7 -1.4 -0.8
0.7 -4.3 11.8 -4.8 -5.7 -10.3
2.9 -1.2 -1.1 -0.7
:
:
:

2.2 -1.0 -4.0
2.5
:
:

6.6 10.4 15.1 14.3
0.8

: 11.5 13.6
:
:
:
:
:
:

5.0
1.5
3.0
:
:

2.8
5.6
:
:

0.4
:
:

4.5
:
:

4.6

:
:
:

:
:
:

:
:

Industrial production growth rates (t/t-12), 2007 m06

EU-27

Energy

Intermediate goods Capital goods

Consumer
durables

Consumer
non-durables

8.0

4.0

0.0

-4.0

51

EUROSTATISTICS

3.1.9.a

Construction - New building permits
Index (2000=100)

Non-seasonally adjusted data

2006

2007

06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

140

130

120

110

100

-

-

-

-

-

-

-

-

66.9
-
:

110.8 120.7 127.8 124.7 121.9 106.8 102.6 117.2 105.2 112.3
:
116.1 125.1 132.2 132.7 135.2 115.5 114.2 127.9
:
:
134.6 139.9 151.4 117.6 129.3 138.8 126.6 138.8 123.0
-
-

:
:
:
:
:
:
-
-
219.9 202.5 202.8 154.7 157.0 135.9 138.0 177.7 172.5 195.1 182.4
:
73.2 122.6
80.1
130.4 112.6 120.9
:
:
56.0
45.6
58.3
59.7
:
-
-
-
-
-
-
:
:
:
:
:
:
:
95.2 133.9 123.2 127.9 135.9 106.3 109.8 136.5 121.1 136.8
:
:
:
144.7 191.6 209.3 204.5 196.0 156.4 156.4 171.9 138.1 135.1
143.4 154.2 165.5 160.9 162.8 144.8 141.2 179.7 131.1 152.0 164.8 152.9
:
:
:
-

:
184.1 272.4 372.8 323.1 248.0 305.0 351.7 436.3 341.3 281.1
:
-

84.0 116.5 100.7
52.6
51.2
43.4
-
-
-
:
:
:

83.0
56.5
-
:

95.0
53.9
-
:

:
:
:
-

:
-

:
-

:
-

:
-

:
-

:
-

:
-

:
-

:
-

:

:

:

:

:

:

:

:

:

Construction - New building permits index

EA-13

140

130

120

110

100

06m08

06m09

06m10

06m11

06m12

07m01

07m02

07m03

07m04

07m05

A building permit is an authorisation to start to work on a building project. As such, a permit is the final stage of planning and
building authorisations, prior to the start of work.
Hence, the building permit indices show the future development in the construction sector.
It may be the case that a large proportion of permits are not used or there is a long time lag between permits and the start of the
building project, however, an index based on these permits gives good indications of the workload for the building industry in the
near future.

52

DETAILED TABLES

3.1.9.a

Construction - New building permits (continued)
Index (2000=100)

Non-seasonally adjusted data

2006

2007

06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

150

140

130

120

110

100

:

:

:

:

:

:

:
96.3

:
:
:
57.0

:
:
:
49.2

:
:
:
57.1

:
:
:
65.4

:
:
:
50.7

:
:
:
54.4

:
:
:
47.2

:
91.1
:
:
:
:
59.2

:
:
105.7 127.8 125.4 148.9 111.7
98.8 106.1 113.2
246.1 284.1 258.1 238.2 130.3 249.7 301.7 320.4 304.4
:
:
:
41.4

:
99.4
:
:
:
:
:
:
:
50.9
72.7
202.5 202.9 169.5 167.9 233.0 101.1 120.8 176.1 153.1 220.8 220.8
:
:
:
:
97.9
46.1
211.1 245.7 243.7 341.4 514.3 131.4 129.2 151.0 154.4 164.0 130.0
105.2 112.7 122.7 132.2 138.1
:
:
96.1 141.2
135.6 106.6 170.7 148.3 161.5 167.8 133.5 102.1 125.9
:
:
:
97.1 104.7

:
:
84.9 112.4 121.4 116.0

:
108.5 109.7 115.5 112.6 105.3

:
:
93.6

:
:
97.4

:
:
91.2

:
:
64.7

:
:
59.3

:
90.0

:
85.3

:
94.8

:
:

:
:

:
:

:

:

:

:

:

:

:

:

:

Construction - New building permits index

EU-27

06m08

06m09

06m10

06m11

06m12

07m01

07m02

07m03

:
:
:
:
:
:
:
:
:
:
:
:
:
:
:
:

150

140

130

120

110

100

53

EUROSTATISTICS

3.1.9.b

Construction - New building permits
Percentage change on the corresponding period of the previous year (t/t-12)

Non-seasonally adjusted data

2006

2007

06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

8.0

4.0

0.0

-4.0

-8.0

-12.0

2.9
2.6
-4.2
-
12.8
-3.6
-1.0
-
:
-9.4
21.8
0.3
:
-30.7
:
-

0.7
0.0
-4.3
-
9.4
-21.3
-14.4
-
:
-39.3
25.8
-2.7
:
-0.9
:
-

6.4
5.3
12.0
-
14.9
-47.4
-7.6
-
:

3.7
-2.3
-8.3
-
16.6
-30.7
-30.8
-
:

-
:
-63.6 -117.7 -568.7
22.4
25.4
29.2
-6.3
11.3
11.3
:
:
:
-21.4
-13.2
13.8
:
:
:
-
-
-

-9.5
-6.5
-6.0
-17.0
-13.6
-19.9
-12.0
-16.2
-23.3
-
-
-
27.3
26.0
14.8
-98.3
-72.9
-76.2
-60.4 -112.3 -101.0
-
:
-23.2
-0.8
-4.7
:
17.0
:
-

-
:
13.8
20.5
-1.8
:
-0.5
:
-

:
:
-5.5
-12.9
-8.9
-9.7
:
-12.5
-24.1
-
-
-
25.8
0.1
13.1
-88.7 -108.8 -173.8
-31.0
-39.1
-83.9
-
-
-
:
:
:
-30.6
-26.9
-32.4
-21.0
16.1
12.0
3.3
-7.7
10.2
:
:
:
-46.6
16.5
20.7
:
:
:
-
-
-

:
:
:
-
-7.0
-32.9
:
-
:
:
:
-9.4
:
:
:
-

Construction - New building permits growth rates (t/t-12)

EA-13

06m08

06m09

06m10

06m11

06m12

07m01

07m02

07m03

:
:
:
-
:
:
:
-
:
:
:
-3.9
:
:
:
-

8.0

4.0

0.0

-4.0

-8.0

-12.0

The growth rates presented here are calculated from raw data and show the change compared to the same month of the previous
year (i.e. 2005m10 vs. 2004m10, sometimes called “year-on-year”).

54

DETAILED TABLES

3.1.9.b

Construction - New building permits (continued)
Percentage change on the corresponding period of the previous year (t/t-12)

Non-seasonally adjusted data

2006

2007

06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

8.0

4.0

0.0

-4.0

-8.0

-12.0

-16.0

-20.0

-24.0

:
-19.7
-7.5
:
:
:
-15.5
6.9
:
:
-8.5
36.3
-12.6
-4.7
:
1.8

:
-20.5
-5.9
:
:
:
-17.9
12.7
:
:
-15.8
0.4
-1.9
-50.5
:
3.8

:
6.9
26.7
:
:
:
15.9
18.8
:
:
15.5
11.7
9.3
0.3
:
2.2

:
15.7
1.1
:
:
:
-18.7
28.6
:
:
-22.3
24.1
17.0
-27.0
:
3.8

:
-21.4
26.7
:
:
:
-18.4
35.5
:
:
0.8
52.8
13.8
27.8
:
9.3

:
20.7
-6.7
:
:
:
1.5
40.7
:
:
-46.2
-1.0
:
12.9
:
-0.8

:
10.6
7.2
:
:
:
-1.1
34.7
:
:
10.3
-47.5
:
4.8
:
-11.0

:
2.8
6.4
:
:
:
-13.6
27.8
:
:
-13.2
-53.2
:
-46.5
:
5.2

:
19.3
12.1
:
:
:
-18.1
21.7
:
:
10.4
-64.6
:
24.3
:
-3.7

:
:
-16.4
14.0
:
:
:
:
:
:
:
:
-11.3
-31.7
18.9
5.9
:
:
:
:
-79.0
-22.9
-89.0 -152.5
:
2.3
:
:

:
1.2
:
-11.9

Construction - New building permits growth rates (t/t-12)

EU-27

06m08

06m09

06m10

06m11

06m12

07m01

07m02

07m03

07m04

07m05

:
:
:
:
:
:
:
:
:
:
:
:
:
:
:
:

8.0

4.0

0.0

-4.0

-8.0

-12.0

-16.0

-20.0

-24.0

55

EUROSTATISTICS

3.1.9.c

Construction - New orders received
Percentage change on previous period (t/t-1)

Seasonally adjusted data

2004

2005

2006

2007

04Q03 04Q04 05Q01 05Q02 05Q03 05Q04 06Q01 06Q02 06Q03 06Q04 07Q01 07Q02

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

6

4

2

0

-2

2.6
-0.1
-1.9
:
-2.8
3.9
-0.7
32.4
c
15.6
14.1
1.1
:
7.1
:
4.1

2.3
2.7
-0.6
:
-24.6
-1.4
-0.2
9.0
c
-22.5
8.1
-1.0
:
19.9
:
7.9

1.3
2.2
1.7
:
4.8
1.9
-7.9
0.1
c
2.9
-1.0
4.2
:
-23.6
:
-1.9

2.8
2.0
1.5
:
-0.1
11.5
8.1
8.4
c
61.9
5.5
5.7
:
8.1
:
8.9

3.2
3.1
4.2
:
17.1
-5.7
4.9
-7.6
c
-28.0
4.4
1.6
:
7.4
:
6.8

2.4
4.4
-2.4
:
-13.7
:
0.5
15.4
c
29.5
2.1
2.8
:
7.5
:
8.3

1.5
2.0
2.3
:
21.1
:
-3.0
-1.7
c
:
:
1.9
:
2.0
:
13.0

3.4
2.7
3.9
:
-3.7
:
5.2
8.8
c
:
:
0.9
:
-6.5
:
8.0

1.0
-0.1
2.5
:
11.8
:
0.4
11.0
c
:
:
3.0
:
-3.6
:
8.9

1.9
3.5
-0.2
:
10.0
:
-1.4
7.3
c
:
:
5.0
:
11.9
:
6.7

3.4
2.4
9.1
:
-27.5
:
8.2
24.5
:
:
:
2.6
:
:
:
5.3

Construction - New orders received growth rates (t/t-1)

EA-13

:
:
7.0
:
:
:
-2.0
:
:
:
:
2.0
:
:
:
4.8

6

4

2

0

-2

04Q03

04Q04

05Q01

05Q02

05Q03

05Q04

06Q01

06Q02

06Q03

06Q04

07Q01

The  growth rates show the change compared to the previous quarter (i.e. 2003Q02 vs. 2003Q01). They are meaningful only on
the base of seasonally adjusted figures as otherwise seasonal fluctuations could hide volume movements.

56

3.1.9.c

Construction - New orders received (continued)
Percentage change on previous period (t/t-1)

DETAILED TABLES

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

6

4

2

0

-2

Seasonally adjusted data

2004

2005

2006

2007

04Q03 04Q04 05Q01 05Q02 05Q03 05Q04 06Q01 06Q02 06Q03 06Q04 07Q01 07Q02

15.1
-13.9
:
c
6.5
-7.7
-17.3
7.2
14.7
-6.5
-10.0
-21.1
-6.1
-1.4
-
-

1.1
-11.0
:
c
3.9
-10.4
15.0
10.6
-9.4
1.2
-7.4
11.8
5.0
7.7
-
-

23.0
-7.9
:
c
-0.8
-9.0
2.1
-10.9
31.6
67.8
17.4
26.1
2.6
-2.2
-
-

-31.8
7.8
:
c
-1.9
57.8
0.5
-3.0
-44.0
-35.4
18.0
2.9
8.6
15.0
-
-

65.3
14.1
:
c
9.2
-19.3
-4.1
46.8
43.7
38.9
0.5
-6.0
-5.6
4.7
-
-

-24.1
-4.2
:
c
-4.4
54.6
-6.4
12.2
-2.2
-16.4
20.5
-11.6
4.2
-1.7
-
-

4.9
18.5
:
c
1.1
28.2
10.9
-8.3
54.1
20.1
-20.8
26.0
3.2
10.4
-
-

-22.8
-23.2
:
c
-1.5
-53.8
-1.9
11.6
14.6
-7.1
18.6
12.5
4.7
-9.0
-
-

-7.4
-1.4
:
c
3.5
57.5
2.3
15.2
-8.2
11.9
-2.7
-11.8
-4.7
7.7
-
-

35.4
-5.9
:
c
-0.1
4.9
-5.8
7.8
-19.9
-11.3
6.9
34.6
-2.6
6.0
-
-

-1.1
-14.6
:
c
9.6
19.4
-9.4
54.7
-1.4
12.1
-0.8
-26.4
5.5
:
-
-

1.2
13.6
:
:
3.3
27.1
-12.0
15.8
34.1
18.8
:
23.8
:
:
-
-

 Construction - New orders received growth rates (t/t-1)

EU-27

04Q03

04Q04

05Q01

05Q02

05Q03

05Q04

06Q01

06Q02

06Q03

06Q04

07Q01

6

4

2

0

-2

57

EUROSTATISTICS

3.1.9.d

Construction - New orders received
Percentage change on the corresponding period of the previous year (t/t-4)

Non-seasonally adjusted data

2004

2005

2006

2007

04Q03 04Q04 05Q01 05Q02 05Q03 05Q04 06Q01 06Q02 06Q03 06Q04 07Q01 07Q02

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

16

12

8

4

0

4.2
4.2
4.0
:
36.1
5.3
-7.8
18.8
c
-7.8
12.9
4.2
:
2.9
:
6.1

4.3
5.9
-2.4
:
-5.2
-5.2
-5.6
62.3
c
-32.0
17.6
1.2
:
48.1
:
53.6

0.9
1.4
-3.7
:
-7.4
-1.7
-12.7
37.1
c
-23.6
6.6
5.5
:
7.3
:
-4.7

12.5
10.9
-0.5
:
-23.4
18.3
-1.0
58.4
c
56.3
28.7
10.4
:
6.1
:
21.6

9.8
10.1
8.1
:
-7.5
5.6
4.4
-1.6
c
-9.2
18.1
8.8
:
6.4
:
24.1

9.8
12.2
2.7
:
-0.3
:
4.5
15.5
c
55.8
11.4
17.6
:
-4.6
:
13.7

13.2
16.3
5.0
:
29.8
:
10.2
20.1
c
:
:
14.4
:
27.4
:
57.1

8.5
8.7
9.6
:
17.8
:
7.6
16.5
c
:
:
4.4
:
10.1
:
36.9

8.3
9.1
4.6
:
5.9
:
3.0
34.0
c
:
:
6.5
:
-1.2
:
49.4

7.6
8.3
10.0
:
43.5
:
0.8
19.0
c
:
:
13.7
:
2.8
:
39.8

10.3
8.7
17.9
:
-14.3
:
12.6
72.5
:
:
:
13.4
:
:
:
30.4

 Construction - New orders received growth rates (t/t-4)

EA-13

:
:
17.1
:
:
:
4.9
:
:
:
:
12.1
:
:
:
26.5

16

12

8

4

0

04Q03

04Q04

05Q01

05Q02

05Q03

05Q04

06Q01

06Q02

06Q03

06Q04

07Q01

The growth rates presented here are calculated from raw data and show the change compared to the same quarter of the previous
year (i.e. 2004Q02 vs. 2003Q02, sometimes called “year-on-year”).

58

3.1.9.d

Construction - New orders received (continued)
Percentage change on the corresponding period of the previous year (t/t-4)

DETAILED TABLES

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

20

16

12

8

4

0

Non-seasonally adjusted data

2004

2005

2006

2007

04Q03 04Q04 05Q01 05Q02 05Q03 05Q04 06Q01 06Q02 06Q03 06Q04 07Q01 07Q02

29.8
48.9
:
c
6.2
-24.2
1.1
38.1
43.8
13.7
0.2
-11.7
3.5
17.9
-
-

5.3
20.9
:
c
7.4
-13.7
7.4
37.3
5.5
-0.6
-38.4
14.3
13.2
17.8
-
-

20.3
4.3
:
c
9.5
-3.3
4.3
4.5
62.1
82.4
-36.6
20.1
0.5
4.0
-
-

-1.9
-23.8
:
c
7.6
3.2
-2.3
2.5
-22.5
2.1
15.8
14.6
11.5
19.3
-
-

29.1
-1.3
:
c
10.5
-8.5
13.3
40.4
-4.0
52.8
28.8
36.3
10.0
26.8
-
-

4.7
7.8
:
c
1.4

0.1
-9.2
-0.9
41.4
:
:
c
c
4.0
5.3
-40.4
94.0 227.2
-2.5
0.3
-8.0
47.5
41.3
68.5
26.3 146.7
2.6
29.7
-4.4
18.1
13.9
12.7
68.7
17.8
4.8
10.8
10.3
8.3
8.0
3.1
30.8
15.8
-
-
-
-
-
-

-41.8
-14.6
:
c
-1.1
42.3
4.3
31.3
59.2
-1.3
10.0
13.4
5.4
6.3
-
-

3.8
-15.9
:
c
2.8
-4.0
4.9

27.7
-1.4
-8.6
-42.4
:
:
:
c
12.1
17.4
-5.7 159.5
-23.3
-14.4
27.1 114.5 122.5
-0.3
-17.4
29.7
32.5
3.3
10.4
:
22.3
-2.1
8.1
-1.8
68.4
:
2.2
-0.2
:
:
14.8
-
-
-
-
-
-

 Construction - New orders received growth rates (t/t-4)

EU-27

04Q03

04Q04

05Q01

05Q02

05Q03

05Q04

06Q01

06Q02

06Q03

06Q04

07Q01

20

16

12

8

4

0

59

EUROSTATISTICS

3.1.10.a

Production of electricity

GWh - Non-seasonally adjusted data

2006

2007

06m07 06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

6,666
3,351
6,520
3,516

7,353
3,518
7,051
3,842

7,068
3,853
7,503
4,406

6,551
3,583
6,685
3,206

:
:
7,449
3,464
7,303
2,658

:
:
7,571
3,552
7,311
4,177

:
:
7,981
3,857
8,366
4,255

:
:
7,735
3,758
7,863
3,639

:
182,162 169,440 174,593 181,439 189,544 199,782
:
259,237 244,819 251,485 266,693 281,925 296,982
7,135
7,698
6,708
3,085
4,430
3,379
7,069
7,753
6,460
2,879
2,444
4,391
46,963 44,989 45,866 49,318 50,614 52,487 48,405 46,119 48,774 43,952 42,987
:
2,111
:

:
:
:
3,391
:
:
:
:
644
:
1,831
5,073
:
25,804 21,896 22,740 21,791 22,078 24,138 25,022 22,358 23,701 21,946 22,413 23,458
:
42,423 40,924 43,140 46,110 50,619 55,655 56,311 50,341 52,787
29,339 23,475 26,122 25,365 25,790 25,835 26,703 24,379 26,000 23,008 26,139 26,444
:
234
1,124

939
2,658
4,966

1,000
2,528
4,787

1,019
2,408
4,852

871
2,409
4,793

864
2,788
4,399

875
2,216
5,413

895
2,092
:

888
2,080
4,383

636
1,991
4,497

346
433
1,104

386
575
1,005

346
760
1,370

355
527
1,272

411
761
1,342

308
496
1,203

461
149
1,010

327
594
869

347
378
811

421
543
429

486
169
209

:

:

Production of electricity

EA-13

06m07

06m08

06m09

06m10

06m11

06m12

210,000

200,000

190,000

180,000

170,000

160,000

210,000

200,000

190,000

180,000

170,000

160,000

60

DETAILED TABLES

3.1.10.a

Production of electricity (continued)

GWh - Non-seasonally adjusted data

2006

2007

06m07 06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

300,000

290,000

280,000

270,000

260,000

250,000

240,000

346
2,963
187
8,353
4,738

351
2,739
195
7,786
4,653

:
3,234
163
8,903
4,667

315
2,825
225
7,825
5,522

374
3,156
167
8,343
5,325

:
3,661
180
9,927
5,144

:
2,999
164
7,390
4,737

:
3,299
177
9,204
5,127

:
:
402
330
3,055
3,013
3,278
3,066
:
177
173
232
7,315
7,477
9,154
7,619
5,062
5,799
4,724
4,717
:
12,084 12,176 12,685 13,724 14,370 14,451 14,456 13,518 13,573 12,137 12,157
2,696
2,722
3,846
3,272
3,868
2,824
4,724
4,601
5,835
4,751
5,540
4,666
1,238
1,128
1,290
1,325
1,340
1,219
2,119
2,321
2,899
2,374
2,670
2,160
5,467
5,824
7,358
5,676
7,892
6,738
9,134
:
8,522 11,631 13,123 14,381 15,786 13,647 14,817 13,749 12,995
30,452 29,547 30,509 32,348 34,920 36,772 37,669 33,641 35,451 31,064 31,312 30,847
:
7,992
-
-
-
-

8,613 10,206 10,837 12,264 12,827 11,424 10,186 10,399
-
-

3,030
4,862
1,260
2,425
6,024
8,106

2,756
5,137
1,328
2,429
7,518

2,858
5,543
1,438
2,812
7,404

3,087
5,607
1,291
2,622
7,768

2,899
5,244
1,231
2,494
7,796

2,630
4,406
1,303
2,244
6,311

7,835
-
-

8,370
-
-

-
-

-
-

-
-

-
-

-
-

-
-

-
-

Production of electricity

EU-27

06m07

06m08

06m09

06m10

06m11

06m12

300,000

290,000

280,000

270,000

260,000

250,000

240,000

61

EUROSTATISTICS

3.1.10.b

Consumption of electricity

GWh - Non-seasonally adjusted data

2006

2007

06m07 06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

7,485
2,755
5,371
2,985

8,017
3,036
5,976
3,256

8,089
3,453
6,436
3,459

7,240
2,858
5,498
3,009

:
:
7,438
3,067
5,709
2,927

:
:
8,336
3,561
6,529
3,363

:
:
8,687
3,726
6,756
3,618

:
:
7,859
3,438
6,160
3,330

:
185,803 169,955 175,983 182,361 190,468 201,362
:
261,578 246,131 252,637 266,330 280,751 294,699
7,543
8,488
7,322
2,759
3,817
2,760
5,656
6,472
5,161
2,807
2,956
3,479
47,756 45,692 45,682 47,774 48,662 48,315 44,976 43,747 45,843 42,410 42,675
:
2,324
:

:
:
:
2,793
:
:
:
:
558
:
1,962
5,406
:
25,430 21,948 22,423 21,555 21,793 23,956 25,110 22,116 23,450 21,680 21,910 23,233
37,456 33,815 36,162 38,792 44,121 51,755 51,473 45,203 47,182
:
33,168 26,409 29,992 30,184 30,193 30,131 31,061 28,414 30,702 27,589 29,922 30,174
:
522
886

839
2,947
4,572

842
2,486
4,960

925
2,733
4,975

871
2,632
4,968

929
2,480
4,914

756
2,289
:

796
2,222
4,503

634
2,430
5,707

637
2,135
4,679

411
740
1,088

346
694
1,007

386
706
1,077

327
691
1,005

355
740
1,039

347
619
926

486
531
781

461
515
857

421
537
808

346
581
920

308
602
902

:

:

Consumption of electricity

EA-13

06m07

06m08

06m09

06m10

06m11

06m12

210,000

200,000

190,000

180,000

170,000

160,000

210,000

200,000

190,000

180,000

170,000

160,000

62

DETAILED TABLES

3.1.10.b

Consumption of electricity (continued)

GWh - Non-seasonally adjusted data

2006

2007

06m07 06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

:

:

:

:

:

177

656

232

195

167

225

540

638

177

685

163

180

164

173

682

187

666

11,628 11,627 11,728 12,838 13,471 13,636 13,969 12,846 13,342 11,956 12,000

:
3,569 3,388 3,390 3,627 3,749 3,797 3,875 3,505 3,699 3,399 3,392 3,566
:
9,425 9,394 9,592 10,228 10,247 10,857 11,130 9,994 10,659 9,212 9,505 9,293
5,570 5,337 5,455 5,828 6,033 6,361 6,442 5,751 6,124 5,398 5,499 5,519
:
3,805 3,386 3,535 3,292 3,289 3,724 4,117 3,340 3,357 3,232 3,327 3,204
4,530 4,559 4,416 4,855 5,172 5,384 5,252 4,873 5,174 4,436 4,609 4,594
1,258 1,157 1,220 1,294 1,316 1,321 1,340 1,217 1,349 1,220 1,254 1,350
2,227 2,209 2,192 2,402 2,606 2,659 2,687 2,413 2,568 2,270 2,295 2,223
6,589 6,900 6,985 7,990 8,521 8,342 9,262 9,030 8,478 7,563 7,209 6,418
:
9,514 10,101 10,314 12,024 13,279 13,950 15,378 14,680 14,023 11,912 11,403
30,956 30,270 30,905 33,080 35,629 36,959 37,969 33,886 35,780 31,210 31,605 31,018
:
-
-

7,547 7,858 7,941 9,665 11,028 11,746 12,602 12,231 11,659 10,183 9,643
-
-

-
-

-
-

-
-

-
-

-
-

-
-

-
-

-
-

-
-

-
-

Consumption of electricity

EU-27

300,000

290,000

280,000

270,000

260,000

250,000

240,000

06m07

06m08

06m09

06m10

06m11

06m12

300,000

290,000

280,000

270,000

260,000

250,000

240,000

63

EUROSTATISTICS

3.1.11

Construction conﬁ dence indicator
Seasonally adjusted data

2006

2007

Balance

06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07 07m08

4.1
2.9
5.5
-0.7
2.3
21.5
-14.0
39.9
18.1
10.3
16.0
19.5
-4.0
-25.7
8.5
-0.5

2.5
2.4
5.8
2.8
2.1
22.8
-14.8
43.2
-3.3
-1.1
12.7
19.1
-4.6
-1.2
9.5
1.6

3.0
2.3
5.2
1.1
0.3
24.5
-14.3
42.2
-15.5
-8.2
15.7
17.7
-4.5
-2.4
10.3
7.8

2.3
2.4
6.6
6.1
-0.5
23.7
-14.3
44.0
-10.4
-6.0
15.6
18.4
-10.1
5.2
18.2
8.8

1.3
1.1
1.3
5.1
-1.6
23.4
-16.4
40.0
13.6
-9.1
10.2
15.4
-1.8
8.3
18.5
12.5

0.0
0.9
1.9
-4.7
-2.1
15.8
-21.6
41.3
-6.9
-8.3
10.7
16.5
-2.1
-3.3
14.7
11.2

0.1
0.8
0.1
2.0
-2.3
12.7
-23.2
38.6
-12.8
0.9
10.9
18.1
-2.1
2.2
17.4
11.8

0.5
1.1
4.3
0.1
-1.4
8.1
-26.4
36.9
-13.1
-0.2
16.4
14.8
2.8
-4.7
16.4
10.9

0.0
0.8
1.8
1.1
-2.6
5.1
-26.2
24.1
-14.1
-2.0
15.4
18.6
-3.6
-5.4
12.8
7.6

0.7
0.8
1.0
-0.7
-2.5
6.0
-26.9
22.0
-8.6
-3.2
16.1
21.7
-5.8
1.6
12.0
3.1

-0.3
-0.1
-0.9
-1.2
-1.8
6.2
-25.2
17.3
-23.9
-10.7
15.0
19.9
-8.7
-0.6
9.2
1.6

-1.5
0.0
0.1
4.7
-4.3
5.5
-24.6
12.3
-11.8
:
6.0
:
-5.3
7.6
7.1
1.4

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

Source: DG ECFIN

Construction conﬁ dence indicator balance

EA-13

6

4

2

0

-2

06m09

06m10

06m11

06m12

07m01

07m02

07m03

07m04

07m05 07m06

07m07

07m08

6

4

2

0

-2

Overall  structure  in  accordance  with  The  Joint  Harmonised  EU  Programme  of  Business  and  Consumer  Surveys.The  following
questions are the components of the construction confidence indicator:

 1. Order book assessment
 2. Employment expectations.

64

DETAILED TABLES

3.1.11

Construction conﬁ dence indicator (continued)
Seasonally adjusted data

2006

2007

Balance

06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07 07m08

-29.4
-18.4
-
13.2
1.0
-8.5
-33.0
-3.7
13.0
0.9
15.5
11.7
-2.4
-
-
-

-35.5
-18.9
-
14.8
-3.3
-9.7
-40.7
-0.9
15.3
-3.1
21.9
25.3
-0.8
-
-
-

-32.6
-20.0
-
18.2
-0.1
-6.8
-41.2
-2.3
16.1
-3.2
21.4
23.4
-3.1
-
-
-

-37.7
-25.1
-
19.1
-6.8
-2.9
-38.7
-3.0
13.9
1.2
24.7
24.5
-0.1
-
-
-

-26.4
-23.0
-
18.7
-4.6
-2.4
-37.9
-0.1
12.5
-3.3
27.9
23.2
-3.2
-
-
-

-25.9
-23.2
-
15.8
-8.2
-2.4
-36.7
0.7
19.7
-1.1
29.7
34.9
0.2
-
-
-

-20.3
-23.8
-
19.4
-13.1
-1.5
-42.2
-1.7
24.1
-3.5
31.6
35.3
-0.4
-
-
-

-29.5
-23.3
-
18.9
-10.4
-2.2
-41.9
-3.7
22.0
-10.0
19.9
42.2
-0.3
-
-
-

-26.8
-34.1
-
18.2
-10.8
-2.4
-40.2
-3.3
23.4
-11.1
28.3
42.7
1.0
-
-
-

-20.7
-35.3
-
23.7
-12.5
-4.4
-33.0
-3.7
22.2
-16.1
26.5
45.6
-1.8
-
-
-

-20.5
-32.5
-
23.8
-7.7
-3.9
-35.2
-2.3
19.9
-9.0
26.5
42.5
-2.9
-
-
-

:
-33.4
-
20.5
-15.0
-3.9
-34.8
-5.7
18.3
2.3
16.1
47.7
2.4
-
-
-

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

Source: DG ECFIN

Construction conﬁ dence indicator balance

EU-27

4

2

0

-2

06m09

06m10

06m11

06m12

07m01

07m02

07m03

07m04

07m05

07m06

07m07

07m08

4

2

0

-2

The  construction  confidence  indicator  gives  a  synthetic  view  of  firms’  opinion  on  the  economic  situation.  Each  question  is
synthetically expressed as a balance between the percentage of optimists and pessimists.
The confidence indicator is then expressed as an arithmetic average of several balances.
National surveys are conducted in the first fortnight of each month. Harmonised results for Member countries, the EU-15, the euro
area and the new Member States are published on the last working day of the current month.
A User’s Guide containing a complete description of the data handling, as well as of the aggregation method used to build the EU and
euro area aggregates can be found at http://europa.eu.int/comm/economy_finance/indicators/businessandconsumersurveys_en.htm

65

EUROSTATISTICS

3.1.12

Industrial conﬁ dence indicator
Seasonally adjusted data

2006

2007

Balance

06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07 07m08

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

4.4
3.6
4.4
10.5
11.4
13.6
7.2
20.8
3.7
7.0
0.3
-1.5
5.5
-2.0
7.5
5.7

5.3
3.8
4.6
9.6
13.3
12.0
8.7
22.0
2.8
4.6
-1.5
-0.1
6.5
12.2
8.0
7.6

6.1
5.4
2.4
10.1
14.6
9.8
10.8
25.4
2.6
3.1
-1.7
1.5
5.5
2.4
6.6
2.6

5.8
4.9
4.2
10.6
13.8
11.1
9.2
28.5
6.2
3.6
2.6
-0.4
6.1
3.5
7.6
-0.3

5.4
4.0
1.2
11.9
14.6
13.3
9.1
22.8
5.7
5.2
2.9
-0.6
3.4
12.9
8.8
1.2

5.4
5.2
1.3
10.9
12.1
7.4
7.7
25.9
7.1
2.5
1.4
1.1
5.0
13.5
10.9
2.3

6.0
5.8
-0.3
10.5
14.8
8.7
8.6
23.8
4.4
5.1
3.1
2.0
5.0
15.2
9.1
2.8

6.6
6.0
2.6
12.4
14.9
5.1
8.9
22.2
4.1
9.0
2.0
1.8
7.7
9.4
6.3
8.1

5.8
5.8
5.3
13.8
17.6
7.5
8.7
20.0
7.4
6.4
-0.3
0.3
5.5
13.9
5.6
5.6

6.1
6.7
6.6
13.6
18.1
-0.4
9.4
20.6
-2.5
5.1
0.2
2.5
5.2
15.5
5.7
9.6

5.0
4.8
4.0
11.4
16.0
2.9
8.0
15.4
-0.4
6.3
0.1
3.3
2.1
9.2
4.5
8.7

Source: DG ECFIN

Industrial conﬁ dence indicator balance

EA-13

8

6

4

2

0

06m09

06m10

06m11

06m12

07m01

07m02

07m03

07m04

07m05

07m06

07m07

07m08

4.9
4.7
1.2
11.0
15.3
3.7
7.7
9.5
2.0
:
-0.6
:
3.0
19.1
5.6
9.0

8

6

4

2

0

Each confidence indicator is calculated as the arithmetic average of specific questions chosen among the full set of questions of
each sector.
For the Industrial confidence indicato the following questions are used:

 1. production expectations;
 2. assessment of the order books;
 3. assessment of stocks of finished products (with inverted sign).

66

DETAILED TABLES

3.1.12

Industrial conﬁ dence indicator (continued)
Seasonally adjusted data

2006

2007

Balance

06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07 07m08

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

-14.4
1.4
-7.1
5.3
2.7
-6.2
-6.7
2.6
12.2
9.2
14.5
3.7
-1.0
-
-
-

-9.0
1.8
-14.2
6.1
3.6
-4.2
-7.8
3.5
11.3
17.3
15.6
4.1
-5.0
-
-
-

-3.4
1.0
-17.4
6.0
3.5
-2.4
-3.7
3.6
12.2
11.2
14.8
8.6
0.9
-
-
-

-0.2
-1.9
-11.9
5.2
4.9
-2.2
-6.2
2.9
12.0
9.0
17.7
4.6
-0.1
-
-
-

-1.4
0.7
-11.7
3.9
3.6
-1.8
-4.5
4.3
12.6
20.0
21.9
7.5
-5.9
-
-
-

5.9
1.1
-20.1
5.6
6.2
-0.9
-0.8
3.4
14.4
17.7
18.8
4.6
4.5
-
-
-

1.6
1.9
1.8
4.4
6.5
-0.3
-0.6
2.6
12.2
15.1
23.8
8.0
4.4
-
-
-

8.9
0.0
-1.3
4.7
4.6
-0.4
-1.4
3.8
15.2
11.0
21.7
9.5
2.4
-
-
-

-1.9
3.8
-3.3
6.6
5.8
-0.3
0.3
4.5
17.2
23.6
20.3
9.4
3.8
-
-
-

2.3
3.1
-5.1
5.5
5.5
-0.1
-1.2
2.5
13.8
16.1
14.6
8.6
10.1
-
-
-

0.5
1.3
9.1
5.5
3.5
-0.8
-3.5
3.1
14.2
17.5
12.5
10.3
1.4
-
-
-

Source: DG ECFIN

Industrial conﬁ dence indicator balance

EU-27

8

6

4

2

0

06m09

06m10

06m11

06m12

07m01

07m02

07m03

07m04

07m05

07m06

07m07

07m08

-5.1
1.1
7.8
4.8
4.8
-1.1
-2.7
2.9
12.3
10.3
13.2
5.0
4.1
-
-
-

8

6

4

2

0

The industrial confidence indicator gives a synthetic view of the opinion of the firms on the economic situation. Each question is
synthetically expressed by a balance between the percentage of optimists and pessimists.
The confidence indicator is then expressed as the arithmetic average of several balances.
National surveys are conducted in the first fortnight of each month. Harmonised results for the Member countries, the EU-15, the
euro area and the new Member States are published on the last working day of the current month.
A User’s Guide containing a complete description of the data handling, as well as of the aggregation method used to build the EU and
euro area aggregates can be found at http://europa.eu.int/comm/economy_finance/indicators/businessandconsumersurveys_en.htm

67

EUROSTATISTICS

3.1.13

Current level of capacity utilization

Quarterly seasonally adjusted data - as a %

2004

2005

2006

2007

04Q04 05Q01 05Q02 05Q03 05Q04 06Q01 06Q02 06Q03 06Q04 07Q01 07Q02 07Q03

81.9
81.5
80.9
62.4
86.7
82.8
83.9
74.8
75.0
74.1
79.3
84.6
76.7
70.0
69.1
68.7

81.8
81.5
80.9
63.7
87.0
81.9
83.9
75.7
72.2
71.9
80.1
84.0
76.4
72.6
70.1
69.8

81.0
80.8
79.4
63.4
86.0
83.3
81.9
77.5
69.7
72.4
80.1
84.6
76.4
71.3
71.7
70.5

80.8
80.6
78.2
62.5
84.9
84.3
82.7
77.6
78.2
71.9
80.6
82.5
75.9
73.9
75.0
70.1

81.0
80.6
79.1
62.6
86.6
84.1
82.9
78.0
76.8
72.2
80.1
81.8
76.7
72.6
71.1
72.1

81.9
81.5
80.4
61.7
86.2
84.6
84.2
79.4
74.0
74.2
80.7
83.6
76.8
69.6
74.6
72.2

82.4
81.8
82.8
62.4
87.0
85.4
84.4
79.1
76.1
74.6
81.1
84.5
77.3
74.5
74.4
73.1

83.6
83.1
83.9
71.5
86.6
84.1
86.4
78.5
76.3
77.2
79.4
85.7
78.0
68.7
71.4
73.4

83.9
83.5
83.5
74.9
86.7
87.4
86.8
78.0
76.5
76.7
80.6
86.3
78.1
66.8
73.7
73.4

84.4
84.1
83.4
76.8
88.4
87.2
87.6
78.4
76.8
76.9
81.2
86.0
78.2
69.8
71.5
75.0

84.8
84.4
83.2
76.1
88.8
88.9
88.2
77.6
77.1
76.9
81.3
86.2
78.9
69.8
73.6
73.8

84.2
83.7
82.8
72.2
88.9
88.9
87.1
77.2
75.9
76.7
81.4
86.0
78.2
69.2
71.8
73.4

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

Source: DG ECFIN

Current level of capacity utilization as a %

EA-13

85.0

84.5

84.0

83.5

83.0

82.5

82.0

81.5

81.0

80.5

80.0

04Q04

05Q01

05Q02

05Q03

05Q04

06Q01

06Q02

06Q03

06Q04

07Q01

07Q02

07Q03

85.0

84.5

84.0

83.5

83.0

82.5

82.0

81.5

81.0

80.5

80.0

The capacity of utilization in manufacturing industry gives the level of capacity utilization in percent, as assessed by managers in
manufacturing industry.

Source reference:
European Commission business and consumer surveys, published in European Economy, Supplement B, by the Directorate-General
for Economic and Financial Affairs.

68

DETAILED TABLES

3.1.13

Current level of capacity utilization (continued)

Quarterly seasonally adjusted data - as a %

2004

2005

2006

2007

04Q04 05Q01 05Q02 05Q03 05Q04 06Q01 06Q02 06Q03 06Q04 07Q01 07Q02 07Q03

86.0
80.0
71.5
82.7
82.4
77.2
80.2
73.3
81.2
84.2
86.9
87.1
81.0
-
-
-

84.9
80.5
63.1
82.3
82.2
77.7
81.6
75.5
81.7
75.6
85.5
86.7
81.3
-
-
-

83.2
82.2
83.2
82.0
81.8
75.4
79.2
71.3
82.5
79.1
87.5
87.3
80.2
-
-
-

79.8
83.7
72.1
81.7
81.3
75.9
79.9
71.5
81.9
78.4
82.4
85.9
80.3
-
-
-

81.4
82.0
72.5
82.1
81.3
77.0
79.2
73.0
82.6
80.2
84.3
84.4
79.4
-
-
-

82.8
84.0
71.4
81.5
81.9
76.5
78.7
77.0
83.1
79.2
85.2
85.8
80.5
-
-
-

84.0
84.0
94.1
81.9
83.2
77.0
78.0
76.3
83.8
79.7
85.1
86.1
79.3
-
-
-

86.7
84.6
78.7
81.4
84.0
78.3
79.4
79.0
84.7
69.2
88.1
88.4
81.7
-
-
-

87.2
86.2
82.0
83.0
84.3
79.1
77.4
77.5
84.1
73.3
85.4
89.5
81.2
-
-
-

87.4
84.8
82.1
83.4
85.1
79.4
79.7
80.3
85.6
71.8
89.3
89.0
82.6
-
-
-

88.8
83.2
87.4
83.3
85.5
80.5
81.7
80.7
86.2
74.3
86.9
88.2
83.1
-
-
-

86.5
87.5
78.9
83.8
85.2
80.8
84.3
80.9
85.9
74.2
86.7
87.4
81.0
-
-
-

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

Source: DG ECFIN

Current level of capacity utilization as a %

EU-27

84.5

84.0

83.5

83.0

82.5

82.0

81.5

81.0

80.5

80.0

04Q04

05Q01

05Q02

05Q03

05Q04

06Q01

06Q02

06Q03

06Q04

07Q01

07Q02

07Q03

84.5

84.0

83.5

83.0

82.5

82.0

81.5

81.0

80.5

80.0

69

EUROSTATISTICS

3.1.14

Services conﬁ dence indicator
Seasonally adjusted data

2006

2007

Balance

06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07 07m08

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

18.3
17.5
19.1
30.0
46.9
34.0
12.3
31.9
17.8
32.1
14.8
9.6
37.3
3.8
16.2
20.5

20.9
18.6
24.7
33.6
46.4
36.2
16.9
20.8
16.9
36.5
19.3
12.1
37.8
16.5
15.5
17.9

19.1
19.6
23.2
37.1
46.3
33.8
16.2
20.2
21.3
38.4
15.8
12.3
29.8
12.4
18.0
19.8

19.3
21.0
29.3
40.9
48.6
32.8
17.8
19.6
22.8
36.4
19.6
10.7
25.9
13.1
19.1
23.4

19.6
19.7
19.6
41.6
49.4
30.2
20.6
18.3
11.2
37.1
17.3
10.0
26.0
16.7
19.6
17.8

19.6
19.0
27.0
46.3
48.7
32.6
16.8
13.4
5.9
34.7
15.4
7.8
34.3
7.1
17.0
28.9

22.4
21.9
28.8
48.1
48.9
33.1
19.8
16.2
16.5
37.2
14.5
9.8
39.7
24.1
18.2
21.1

22.5
22.2
29.3
44.3
47.9
29.1
22.3
12.7
6.6
34.3
12.7
9.6
37.2
23.9
17.2
18.0

22.6
23.3
28.3
42.7
46.1
26.2
23.0
7.1
13.3
34.5
10.8
12.3
35.3
16.3
16.7
22.2

21.1
20.6
29.7
42.0
43.0
28.5
20.4
10.4
19.6
33.6
12.7
10.2
31.3
29.4
16.4
21.8

21.1
19.8
32.3
39.6
42.3
27.8
19.5
6.9
-0.7
27.7
11.5
12.3
35.1
31.0
15.9
22.0

Source: DG ECFIN

Services conﬁ dence indicator balance

EA-13

24

20

16

12

8

4

0

20.0
21.2
33.4
41.1
41.9
29.8
20.6
0.9
13.1
:
15.3
:
22.9
33.6
17.9
22.4

24

20

16

12

8

4

0

06m09

06m10

06m11

06m12

07m01

07m02

07m03

07m04

07m05

07m06

07m07

07m08

Business surveys provide a rapid means of compiling simple statistics with the results available before those of traditional statistical
methods, and provide information on areas not covered by quantitative statistics. Details provided by respondents are generally
of very high quality since the questions relate to subjects with which they are familiar, hence  the past and future performance of
their business is highly reliable. Similarly, consumers provide high quality information on their purchasing information and price
trend.
The Services Confidence Indicator is the arithmetic average of the balances (in percentage points) of the answers to survey questions
on business climate and on recent and expected evolution of demand. Balances are seasonally adjusted.

70

DETAILED TABLES

3.1.14

Services conﬁ dence indicator (continued)
Seasonally adjusted data

2006

2007

Balance

06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07 07m08

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

-
-2.4
-
25.2
20.1
11.6
6.6
26.7
26.4
32.3
43.3
34.5
10.5
-
-
-

-
-6.8
-
28.3
18.5
13.3
6.3
26.7
22.2
44.1
37.2
38.6
5.8
-
-
-

-
-6.4
-
30.2
20.9
12.2
8.9
31.8
20.4
42.4
42.3
40.8
17.3
-
-
-

-
-4.5
-
33.3
20.1
13.1
7.7
31.4
22.9
42.5
49.6
40.7
23.2
-
-
-

-
-5.1
-
31.7
21.8
18.0
6.4
28.2
22.3
28.4
30.3
44.4
14.8
-
-
-

-
-13.0
-
37.8
19.5
18.2
5.8
33.1
23.3
27.8
33.7
36.8
12.1
-
-
-

-
-5.2
-
38.4
21.9
17.2
6.9
29.5
25.5
36.9
42.5
38.6
15.2
-
-
-

-
-6.0
-
41.1
23.9
18.8
11.7
25.1
26.3
36.5
38.2
35.8
18.0
-
-
-

-
-11.0
-
39.5
21.8
20.6
9.1
26.5
27.8
37.9
44.6
42.2
22.9
-
-
-

-
-10.7
-
36.1
22.8
22.8
8.3
18.3
27.6
42.3
55.2
39.7
13.5
-
-
-

-
-12.3
-
33.4
21.8
23.8
10.1
20.3
29.0
46.0
36.2
43.9
9.7
-
-
-

Source: DG ECFIN

Services conﬁ dence indicator balance

EU-27

24

20

16

12

8

4

0

06m09

06m10

06m11

06m12

07m01

07m02

07m03

07m04

07m05

07m06

07m07

07m08

-
-9.2
-
33.4
22.2
20.7
6.5
22.7
30.1
43.8
20.7
43.0
20.7
-
-
-

24

20

16

12

8

4

0

71

EUROSTATISTICS

3.1.15

Industry production expectations for the months ahead
Seasonally adjusted data

2006

2007

Balance

06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07 07m08

13.2
14.0
7.2
42.9
29.2
17.5
11.4
26.0
15.2
28.0
11.1
7.6
22.0
1.4
22.0
20.4

14.3
15.1
13.4
40.4
31.0
13.6
12.1
28.4
9.4
25.9
6.1
13.7
21.6
34.6
22.3
20.6

16.3
17.0
8.1
41.1
33.9
16.3
17.0
28.8
1.5
25.2
6.6
16.6
20.0
11.8
20.8
16.4

13.5
15.3
7.4
44.1
33.8
14.9
11.0
32.6
8.5
24.6
8.8
14.1
18.6
4.2
23.2
18.5

14.9
15.3
5.3
44.1
38.9
12.1
13.6
28.4
19.7
32.6
11.9
14.4
17.0
31.8
22.4
14.9

12.1
14.9
5.8
39.5
29.7
19.0
8.4
30.6
4.1
21.9
6.8
11.8
19.8
33.2
24.3
16.4

13.6
15.7
2.6
36.8
29.0
12.9
12.1
30.5
12.8
24.6
9.8
12.8
18.7
32.8
25.2
13.1

14.6
16.1
5.2
40.5
20.4
4.9
14.5
30.7
9.3
29.6
4.4
10.9
22.9
18.6
18.2
16.7

14.0
15.9
8.9
43.0
28.3
8.3
15.1
28.8
17.8
28.3
4.6
9.1
17.4
31.9
20.9
17.0

14.9
17.1
10.0
45.2
27.9
7.0
16.9
31.3
-0.3
26.2
7.1
12.7
17.5
31.0
20.2
23.4

14.2
15.7
8.1
43.1
28.7
15.2
14.9
19.1
3.8
24.5
3.7
14.9
16.0
18.3
17.8
14.2

12.7
13.8
3.9
40.5
26.4
11.3
13.4
17.1
10.1
:
5.4
:
14.5
36.2
20.0
10.7

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

Source: DG ECFIN

Industry production expectations for the months ahead balance

EA-13

20

16

12

8

4

0

06m09

06m10

06m11

06m12

07m01

07m02

07m03

07m04

07m05

07m06

07m07

07m08

20

16

12

8

4

0

72

DETAILED TABLES

3.1.15

Industry production expectations for the months ahead (continued)
Seasonally adjusted data

2006

2007

Balance

06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07 07m08

-7.4
1.9
20.0
13.0
17.3
21.7
5.6
19.7
31.6
30.2
27.0
10.3
13.2
-
-
-

2.9
7.4
11.3
14.8
17.5
27.1
5.2
20.3
29.4
39.8
29.2
15.0
12.2
-
-
-

4.7
7.5
6.1
14.2
15.8
29.9
5.6
24.1
36.1
23.4
36.1
27.0
12.0
-
-
-

12.3
3.3
31.2
12.5
15.6
28.4
1.3
20.5
31.9
19.3
37.7
21.8
17.2
-
-
-

12.1
9.6
14.2
10.6
15.8
26.9
9.3
18.9
30.2
52.4
38.2
23.0
8.4
-
-
-

21.2
8.1
11.5
14.9
19.3
25.6
9.5
14.8
31.7
49.4
24.6
18.8
22.7
-
-
-

17.8
8.8
38.2
11.2
19.2
25.6
8.1
16.0
29.5
26.2
25.4
23.5
19.5
-
-
-

32.9
3.7
34.6
10.7
16.2
25.6
3.6
12.5
34.6
17.0
33.7
28.8
17.5
-
-
-

17.7
10.0
33.4
15.3
15.2
25.4
3.4
18.5
36.1
56.0
36.2
22.5
17.8
-
-
-

12.1
10.5
21.6
10.7
16.6
26.0
1.2
17.0
31.0
22.1
25.2
16.9
23.8
-
-
-

9.6
15.3
24.0
16.4
16.9
25.3
5.0
16.5
32.2
38.2
22.0
25.2
13.6
-
-
-

12.2
7.9
41.7
13.8
17.0
24.2
3.7
17.8
32.5
28.7
24.0
22.2
11.4
-
-
-

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

Source: DG ECFIN

Industry production expectations for the months ahead balance

EU-27

20

16

12

8

4

0

06m09

06m10

06m11

06m12

07m01

07m02

07m03

07m04

07m05

07m06

07m07

07m08

20

16

12

8

4

0

73

Section 3.2

DEMAND

EUROSTATISTICS

3.2.1

GDP components table - Domestic demand
Billions of euro

Seasonally adjusted data - current prices

Final consumption

Final consumption

Gross ﬁ xed

of households and NPISH¹

 of general government

capital formation

2006

2007

2006

2007

2006

2007

06Q03 06Q04 07Q01 07Q02 06Q03 06Q04 07Q01 07Q02 06Q03 06Q04 07Q01 07Q02

EA-13

1,206.3 1,215.1 1,220.3 1,234.2

EU-27

1,682.4 1,704.4 1,717.1 1,734.4

41.9

41.9

42.5

:

13.8

26.5

:

14.2

27.0

:

14.5

27.4

:

:

:

27.4

430.5

605.0

17.8

:

6.1

14.1

432.6

611.7

17.8

:

6.2

14.3

438.9

619.7

18.0

:

6.3

14.5

440.9

621.5

:

:

:

14.6

451.3

606.2

16.3

:

7.2

12.5

462.3

624.7

16.4

:

7.4

13.0

475.1

641.6

17.0

:

7.4

13.3

476.9

644.3

:

:

:

13.2

339.9

344.4

339.7

343.7

106.4

106.7

108.9

108.8

106.4

108.8

113.1

111.9

1.8

20.7

:

141.8

256.0

220.7

2.4

2.7

4.0

1.8

21.3

:

143.9

256.3

221.2

2.4

2.9

4.1

2.0

21.7

:

146.0

258.6

223.6

2.5

3.1

4.3

:

:

:

148.1

261.7

:

:

:

4.5

0.6

6.3

:

0.6

6.4

:

0.6

:

:

:

:

:

44.9

45.9

46.8

47.5

106.5

107.4

108.3

109.3

75.0

74.2

75.3

0.7

0.7

1.1

0.6

0.7

1.1

0.7

0.8

1.1

:

:

:

1.1

:

:

:

12.0

11.9

13.2

:

75.4

92.4

76.5

0.7

1.4

1.4

:

77.4

94.4

78.8

0.7

1.6

1.5

:

79.6

96.0

80.2

0.7

1.7

1.7

:

:

:

81.4

96.8

:

:

:

1.7

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

¹ Non Proﬁ t Institutions Serving Households (NPISHs, ESA 1995, 2.87)

GDP components as a % of Domestic demand, 2007 q02

EA-13

22.2%

Cons. of households and NPISH

Cons. of general government

Gross fixed capital formation

57.3%

20.5%

Final  consumption  expenditure  (ESA  1995,  3.75)  is  the  sum  of  final  consumption  expenditure  by  households,  NPISH  and
government.

Gross capital formation (ESA 1995, 3.100) consists of gross fixed capital formation, changes in inventories and acquisitions less
disposals of valuables.

76

DETAILED TABLES

3.2.1

GDP components table - Domestic demand (continued)
Billions of euro

Seasonally adjusted data - current prices

Final consumption

Final consumption

Gross ﬁ xed

of households and NPISH¹

 of general government

capital formation

2006

2007

2006

2007

2006

2007

06Q03 06Q04 07Q01 07Q02 06Q03 06Q04 07Q01 07Q02 06Q03 06Q04 07Q01 07Q02

3.2

11.7

0.8

63.7

35.8

42.1

25.5

:

4.1

6.3

3.2

12.6

0.8

63.7

36.1

43.8

25.6

:

4.1

6.8

3.3

13.1

0.8

64.9

36.4

44.8

25.8

:

4.2

7.3

21.7

21.9

22.4

:

:

:

:

:

:

:

36.8

46.1

:

:

:

7.6

:

:

1.3

4.6

0.3

34.1

11.7

12.1

8.0

:

1.4

2.0

9.1

:

1.3

5.3

0.3

34.4

11.7

12.6

8.0

:

1.5

2.1

9.2

:

1.4

5.1

0.3

34.6

11.8

12.6

8.0

:

1.5

2.2

9.3

:

:

:

:

:

11.8

13.0

:

:

:

2.3

:

:

1.5

4.7

0.2

26.9

13.4

13.5

8.1

:

2.0

2.9

8.1

:

1.5

5.0

0.3

27.5

13.7

14.7

8.1

:

2.1

3.1

8.1

:

1.6

5.2

0.2

27.8

13.9

15.7

8.3

:

2.2

3.3

8.3

:

306.3

314.0

318.1

319.5

106.3

108.5

109.8

109.1

27.4

27.1

27.9

:

13.1

1,825.6 1,818.4 1,819.9 1,794.1

412.2

484.1

475.5

463.6

447.3 153.794

13.0

412.7

150.4

13.3

411.4

145.9

:

409.2

140.7

87.3

12.7

509.4

203.3

91.3

12.7

499.8

204.0

92.9

12.8

490.4

198.3

:

:

:

:

14.1

16.9

:

:

:

3.3

:

:

92.5

:

482.1

190.9

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

GDP components as a % of Domestic demand, 2007 q02

EU-27

21.5%

Cons. of households and NPISH

Cons. of general government

Gross fixed capital formation

20.7%

57.8%

77

EUROSTATISTICS

3.2.2.a

Final consumption expenditure: household and NPISH (1)
Percentage change on previous period (t/t-1)

Seasonally adjusted data (at 1995 prices)

2004

2005

2006

2007

04Q03 04Q04 05Q01 05Q02 05Q03 05Q04 06Q01 06Q02 06Q03 06Q04 07Q01 07Q02

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

0.2
0.3
0.1
:
1.1
1.9
0.0
1.1
1.2
2.9
1.1
0.2
-0.1
1.9
1.8
2.9

0.7
0.6
0.2
:
0.5
2.3
0.5
4.3
0.8
0.7
0.9
1.1
0.3
1.2
2.1
1.2

0.3
0.3
0.2
:
-0.1
-0.8
-0.3
-2.0
2.8
1.5
1.1
0.6
-0.2
0.7
2.7
1.8

0.4
0.4
0.3
:
1.2
2.5
-0.1
4.3
1.2
-1.3
1.4
0.0
0.7
1.3
3.3
3.3

0.6
0.6
0.3
:
0.9
0.8
0.6
3.2
2.7
:
0.5
0.6
0.5
0.7
3.7
2.6

0.1
0.3
0.8
:
0.9
-0.5
-0.7
4.2
0.0
:
0.8
0.6
-0.2
1.2
4.2
3.7

0.7
0.7
0.8
:
0.6
1.7
0.8
3.3
2.8
:
1.3
0.8
0.5
0.6
4.8
3.5

0.4
0.7
0.5
:
1.7
1.4
0.2
3.2
1.4
:
0.9
0.5
0.4
1.5
4.9
2.9

0.5
0.5
0.7
:
1.0
-1.1
0.4
5.0
0.1
:
0.7
0.5
0.5
0.8
5.3
3.4

0.5
0.7
0.3
:
2.1
0.6
0.8
3.5
1.9
:
0.7
0.2
0.3
1.2
5.3
2.9

0.0
0.2
0.8
:
1.8
0.9
-1.8
5.2
:
:
1.0
0.5
0.7
1.9
4.4
2.2

LT
(1): NPISH= Non Proﬁ t Institutions Serving Households

Final consumption expenditure: household and NPISH growth rates (t/t-1)

EA-13

1.0

0.8

0.6

0.4

0.2

0.0

-0.2

0.5
0.6
:
:
:
0.2
0.6
:
:
:
0.8
0.6
:
:
:
4.4

1.0

0.8

0.6

0.4

0.2

0.0

-0.2

04Q03

04Q04 05Q01

05Q02

05Q03

05Q04

06Q01

06Q02

06Q03

06Q04

07Q01

07Q02

Final  consumption  expenditure  (ESA  1995,  3.75)  consists  of  expenditure  incurred  by  resident  institutional  units  on  goods  or
services that are used for the direct satisfaction of individual needs or wants or the collective needs of members of the community.
The acquisition of these goods and services is financed from the disposable income of households. The consumption expenditure
may take place on the domestic territory or abroad. Private final consumption expenditure includes households’ and NPISH’s final
consumption expenditure. Non Profit Institutions Serving Households (NPISH, ESA 1995, 2.87) are separate legal entities serving
households. They include for example trade unions, professional societies, political parties, churches, charities, sports clubs etc.

78

DETAILED TABLES

3.2.2.a

Final consumption expenditure: household and NPISH (continued)
Percentage change on previous period (t/t-1)

Seasonally adjusted data (at 1995 prices)

2004

2005

2006

2007

04Q03 04Q04 05Q01 05Q02 05Q03 05Q04 06Q01 06Q02 06Q03 06Q04 07Q01 07Q02

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

1.0

0.8

0.6

0.4

0.2

0.0

2.5
1.1
:
0.2
0.4
0.4
0.8
:
1.0
1.7
0.7
0.4
0.4
0.3
0.9
0.3

1.7
-0.2
:
0.2
0.4
0.4
0.4
:
1.0
2.0
1.3
0.7
0.5
1.5
1.0
-0.6

-1.2
1.6
:
0.0
0.5
0.3
0.8
:
1.3
2.0
0.4
0.2
0.4
0.4
0.6
0.8

2.1
0.9
:
0.2
0.6
0.7
1.1
:
0.7
1.5
1.8
1.1
-0.1
1.7
0.9
0.9

0.1
0.5
:
0.9
0.6
1.1
-1.2
:
0.6
1.8
0.7
0.8
0.5
0.9
1.0
0.7

2.1
1.3
:
0.4
0.5
1.2
0.5
:
0.9
1.4
1.5
0.6
0.5
-0.1
0.3
0.3

1.5
-0.2
:
-2.2
0.5
1.3
0.7
:
0.6
1.3
0.9
0.7
0.2
1.7
1.1
0.0

-0.2
0.2
:
0.5
0.4
1.5
0.4
:
1.8
1.5
0.9
0.6
1.0
1.5
0.6
0.4

0.6
0.1
:
0.2
0.4
1.4
0.2
:
0.6
1.7
1.3
0.5
0.3
0.9
0.7
-0.9

0.9
0.2
:
0.1
0.3
1.3
0.0
:
0.4
1.6
0.5
0.7
1.1
1.0
1.0
1.1

0.5
-0.1
:
0.9
0.3
1.7
0.6
:
0.9
1.7
1.8
0.6
0.5
2.9
0.9
0.8

 Final consumption expenditure: household and NPISH growth rates (t/t-1)

EU-27

04Q03

04Q04 05Q01

05Q02

05Q03

05Q04

06Q01

06Q02

06Q03

06Q04

07Q01

07Q02

:
:
:
0.3
0.5
1.1
:
:
:
1.7
:
0.6
0.7
:
0.4
0.4

1.0

0.8

0.6

0.4

0.2

0.0

79

EUROSTATISTICS

3.2.2.b

Final consumption expenditure: household and NPISH
Percentage change on the corresponding period of the previous year (t/t-4)

Non-seasonally adjusted data (at 1995 prices)

2004

2005

2006

2007

04Q03 04Q04 05Q01 05Q02 05Q03 05Q04 06Q01 06Q02 06Q03 06Q04 07Q01 07Q02

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

2.5

2.0

1.5

1.0

0.5

0.0

1.5
2.1
1.5
4.1
2.6
5.1
-0.5
3.2
4.4
:
5.4
2.9
0.4
7.4
9.7
15.5

1.5
2.0
1.1
6.9
3.3
5.5
1.0
9.6
3.7
:
2.4
1.9
0.8
7.3
9.9
9.4

1.0
1.4
0.3
6.2
1.4
3.5
-0.8
5.1
6.1
:
4.6
2.1
0.0
6.1
7.9
7.5

1.7
1.9
0.8
3.6
2.9
6.6
0.5
7.6
6.1
:
4.6
2.4
0.4
6.3
9.8
10.1

2.0
2.0
0.9
8.2
2.4
4.8
0.8
9.8
7.6
:
4.2
2.3
1.4
2.9
13.1
9.4

1.1
1.5
1.6
6.2
3.2
1.9
-0.7
9.8
6.7
:
3.5
1.8
0.7
3.7
14.4
11.8

2.1
2.3
2.4
5.2
3.8
5.1
1.2
16.0
6.0
:
4.5
2.3
1.4
4.0
17.2
15.0

1.5
2.0
2.5
8.2
4.1
3.2
0.2
14.5
6.3
:
3.4
2.0
1.5
4.0
17.9
12.1

1.6
2.0
2.7
9.0
4.0
1.5
0.4
16.4
3.5
:
3.8
2.2
1.3
4.3
19.7
15.2

1.9
2.3
2.6
7.5
5.6
2.6
2.0
15.9
5.4
:
3.4
1.5
1.7
4.0
23.7
12.3

1.6
2.1
2.3
9.1
6.7
1.9
-0.2
18.1
:
:
3.7
1.8
2.1
5.1
20.4
12.4

 Final consumption expenditure: household and NPISH growth rates (t/t-4)

EA-13

04Q03

04Q04

05Q01

05Q02

05Q03

05Q04

06Q01

06Q02

06Q03

06Q04

07Q01

07Q02

1.2
1.1
:
:
:
0.8
-0.1
:
:
:
3.4
1.5
:
:
:
13.4

2.5

2.0

1.5

1.0

0.5

0.0

Final  consumption  expenditure  (ESA  1995,  3.75)  consists  of  expenditure  incurred  by  resident  institutional  units  on  goods  or
services that are used for the direct satisfaction of individual needs or wants or the collective needs of members of the community.
The acquisition of these goods and services is financed from disposable income of households. The consumption expenditure may
take  place  on  the  domestic  territory  or  abroad.  Private  final  consumption  expenditure  includes  households’  and  NPISHs’  final
consumption expenditure. Non Profit Institutions Serving Households (NPISH, ESA 1995, 2.87) are separate legal entities serving
households. They include for example trade unions, professional societies, political parties, churches, charities, sports clubs etc.

80

DETAILED TABLES

3.2.2.b

Final consumption expenditure: household and NPISH (continued)
Percentage change on the corresponding period of the previous year (t/t-4)

Non-seasonally adjusted data (at 1995 prices)

2004

2005

2006

2007

04Q03 04Q04 05Q01 05Q02 05Q03 05Q04 06Q01 06Q02 06Q03 06Q04 07Q01 07Q02

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

2.5

2.0

1.5

1.0

0.5

0.0

3.1
4.8
:
1.3
2.4
4.4
:
17.5
2.3
4.1
1.8
1.7
3.3
5.6
:
2.2

6.2
2.3
:
0.9
0.6
2.7
:
14.5
2.7
5.8
2.6
2.2
3.2
3.6
:
0.3

2.7
3.8
:
-0.5
1.7
1.2
:
11.5
3.2
6.9
2.8
0.8
1.9
1.1
:
0.6

5.2
3.6
:
0.6
2.4
1.3
:
12.1
4.5
7.3
4.7
2.6
1.4
4.7
:
1.5

2.3
2.1
:
1.3
2.2
2.7
:
10.3
3.4
7.5
4.3
3.0
1.1
4.9
:
1.5

3.3
5.4
:
1.5
1.8
2.8
:
6.4
2.7
6.4
3.4
3.0
1.7
2.6
:
2.6

6.3
2.6
:
-0.8
2.2
5.3
:
12.0
3.1
6.5
5.8
3.2
1.4
5.0
:
1.9

3.5
1.7
:
-0.2
2.5
4.9
:
14.0
3.4
5.7
4.4
3.0
2.0
3.6
:
1.4

3.9
1.4
:
-0.9
1.7
5.4
:
15.3
3.6
6.3
5.0
2.3
2.1
4.3
:
-0.4

2.9
0.3
:
-1.1
1.9
4.9
:
13.8
3.0
6.0
2.3
2.6
2.8
4.6
:
0.4

1.9
0.4
:
1.8
1.1
7.0
:
12.1
3.3
6.5
5.3
2.5
2.7
6.6
:
1.4

 Final consumption expenditure: household and NPISH growth rates (t/t-4)

EU-27

04Q03

04Q04

05Q01

05Q02

05Q03

05Q04

06Q01

06Q02

06Q03

06Q04

07Q01

07Q02

:
:
:
1.9
1.5
5.3
:
11.4
:
7.1
:
2.5
:
:
:
1.4

2.5

2.0

1.5

1.0

0.5

0.0

81

EUROSTATISTICS

3.2.3.a

Final consumption expenditure: general government
Percentage change on previous period (t/t-1)

Seasonally adjusted data (at 1995 prices)

2004

2005

2006

2007

04Q03 04Q04 05Q01 05Q02 05Q03 05Q04 06Q01 06Q02 06Q03 06Q04 07Q01 07Q02

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

1.5

1.0

0.5

0.0

-0.5

0.4
0.4
0.1
:
-0.9
-0.3
0.3
-1.8
0.6
1.7
1.6
0.3
0.2
-0.4
-2.2
1.6

-0.1
0.2
-0.2
:
-0.1
0.1
-1.3
0.3
1.5
-0.2
0.8
0.1
0.5
-4.9
0.4
1.8

0.5
0.5
-0.5
:
0.9
0.4
0.4
-0.3
2.3
2.6
1.5
0.1
1.0
5.6
1.3
0.1

0.7
0.8
-0.2
:
2.5
0.3
1.5
0.4
0.1
-1.3
1.9
0.2
0.0
2.0
0.3
1.9

0.3
0.4
0.1
:
1.0
0.6
-0.2
3.1
1.6
:
0.9
0.4
0.4
-2.3
1.2
1.0

0.1
0.2
0.3
:
-1.1
0.3
-0.2
-0.9
0.4
:
1.0
0.0
-0.2
6.4
0.4
1.9

1.0
1.1
0.3
:
0.6
0.3
0.5
0.5
1.6
:
1.0
0.6
-0.4
3.9
1.0
2.4

0.2
0.1
0.6
:
-0.3
0.2
-0.1
0.5
1.6
:
1.0
0.6
-0.1
-0.7
1.3
1.4

0.5
0.4
0.6
:
0.4
0.6
0.5
1.0
0.6
:
1.6
0.3
0.2
-1.5
1.2
2.1

0.4
0.5
0.5
:
0.8
0.8
0.0
2.1
0.5
:
1.9
0.4
0.0
-16.7
1.9
0.7

0.8
0.7
0.5
:
0.2
0.2
1.7
0.5
:
:
1.1
0.4
0.0
24.4
0.8
2.2

Final consumption expenditure: general government growth rates (t/t-1)

EA-13

0.1
0.3
:
:
:
0.3
-0.2
:
:
:
0.8
0.5
:
:
:
1.0

1.5

1.0

0.5

0.0

0.5

04Q03

04Q04

05Q01

05Q02

05Q03

05Q04

06Q01

06Q02

06Q03

06Q04

07Q01

07Q02

Government  final  consumption  expenditure  (ESA  1995,  3.79)  includes  two  categories  of  expenditures:  the  value  of  goods  and
services produced by general government itself other than own-account capital formation, and purchases by general government of
goods and services produced by market producers that are supplied to households - without any transformation - as social transfers
in kind.

82

DETAILED TABLES

3.2.3.a

Final consumption expenditure: general government (continued)
Percentage change on previous period (t/t-1)

Seasonally adjusted data (at 1995 prices)

2004

2005

2006

2007

04Q03 04Q04 05Q01 05Q02 05Q03 05Q04 06Q01 06Q02 06Q03 06Q04 07Q01 07Q02

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

1.5

1.0

0.5

0.0

0.8
0.9
:
-0.7
0.4
1.0
0.9
:
0.7
-0.5
0.5
-0.3
0.8
0.2
0.5
0.2

1.7
-0.4
:
0.3
0.4
2.1
0.8
:
0.5
0.8
0.4
0.2
1.0
0.7
-0.3
0.6

1.2
0.8
:
-1.3
0.5
0.9
0.6
:
0.3
-2.4
0.7
0.1
0.4
0.6
0.4
1.4

1.7
1.1
:
1.2
0.4
2.0
0.4
:
0.7
-0.9
-0.2
0.1
1.2
0.6
0.0
-0.7

0.7
0.8
:
0.5
0.4
1.2
0.2
:
1.1
2.4
0.7
0.1
0.4
-0.3
0.9
1.1

1.3
-0.1
:
0.2
0.6
0.7
-0.1
:
0.5
0.1
0.1
0.3
0.5
0.4
-0.7
-1.1

0.3
3.1
:
7.6
0.6
1.5
-0.2
:
1.5
2.3
0.0
0.7
1.4
2.0
1.1
0.0

0.3
-0.8
:
0.6
0.5
0.2
-0.2
:
0.7
0.6
0.9
0.6
-0.2
0.6
-0.1
0.8

-0.2
-5.2
:
0.7
0.5
0.3
-0.3
:
0.6
-0.3
-0.1
0.5
0.3
0.7
0.5
0.5

1.0
6.8
:
0.6
0.3
0.3
-0.2
:
1.0
1.1
0.6
0.5
0.5
0.6
0.9
0.1

0.4
-6.5
:
0.3
0.1
0.0
-0.1
:
0.2
0.4
0.3
0.3
0.5
1.3
-0.1
-0.2

Final consumption expenditure: general government growth rates (t/t-1)

EU-27

04Q03

04Q04

05Q01

05Q02

05Q03

05Q04

06Q01

06Q02

06Q03

06Q04

07Q01

07Q02

:
:
:
0.2
0.2
0.4
:
:
:
1.0
:
0.6
0.8
:
0.8
0.3

1.5

1.0

0.5

0.0

83

EUROSTATISTICS

3.2.3.b

Final consumption expenditure: general government
Percentage change on the corresponding period of the previous year (t/t-4)

Non-seasonally adjusted data (at 1995 prices)

2004

2005

2006

2007

04Q03 04Q04 05Q01 05Q02 05Q03 05Q04 06Q01 06Q02 06Q03 06Q04 07Q01 07Q02

1.0
1.2
2.1
:
-3.7
1.3
-1.2
2.2
1.9
:
7.1
0.9
0.8
-0.2
2.0
8.1

0.7
1.0
1.2
:
-5.3
1.0
-3.1
1.4
2.0
:
7.6
1.0
1.4
-15.3
1.5
9.4

0.8
1.0
-0.2
:
-0.1
0.5
-1.0
0.2
5.1
:
2.3
1.7
1.5
1.1
4.3
2.0

1.7
2.2
-0.8
:
1.7
0.7
0.9
-1.4
4.6
:
6.6
1.5
1.8
0.9
-2.7
3.9

1.1
1.6
-0.9
:
5.7
1.3
0.6
3.4
5.6
:
2.4
0.7
1.8
-8.4
4.1
7.4

1.7
1.8
-0.4
:
1.9
1.7
1.3
2.5
4.1
:
10.0
-0.2
1.0
16.8
5.1
6.1

1.6
1.9
0.5
:
3.8
1.8
1.7
3.1
3.9
:
3.0
0.4
-0.3
10.4
2.2
6.2

1.4
1.4
1.3
:
-0.5
1.1
0.1
2.9
:
:
3.7
0.6
-0.4
9.1
2.8
4.7

2.0
2.1
1.8
:
-1.1
1.3
0.9
0.8
:
:
4.6
1.9
-0.5
13.1
1.5
10.7

2.8
2.7
2.0
:
2.4
1.9
0.7
4.1
:
:
7.5
2.8
-0.3
-14.5
9.2
7.4

2.2
2.1
2.2
:
0.4
1.8
2.1
4.1
:
:
6.7
1.8
0.1
1.4
4.5
6.2

Final consumption expenditure: general government growth rates (t/t-4)

EA-13

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

4.0

3.0

2.0

1.0

0.0

1.8
1.8
:
:
:
1.8
2.1
:
:
:
5.8
1.1
:
:
:
5.5

4.0

3.0

2.0

1.0

0.0

04Q03

04Q04

05Q01

05Q02

05Q03

05Q04

06Q01

06Q02

06Q03

06Q04

07Q01

07Q02

Government  final  consumption  expenditure  (ESA  1995,  3.79)  includes  two  categories  of  expenditures:  the  value  of  goods  and
services produced by general government itself other than own-account capital formation, and purchases by general government of
goods and services produced by market producers that are supplied to households - without any transformation - as social transfers
in kind.

84

DETAILED TABLES

3.2.3.b

Final consumption expenditure: general government (continued)
Percentage change on the corresponding period of the previous year (t/t-4)

Non-seasonally adjusted data (at 1995 prices)

2004

2005

2006

2007

04Q03 04Q04 05Q01 05Q02 05Q03 05Q04 06Q01 06Q02 06Q03 06Q04 07Q01 07Q02

2.5
2.4
:
-0.2
1.5
0.8
:
-4.7
4.0
4.6
1.7
-1.4
3.0
0.7
:
1.8

3.8
0.9
:
0.6
1.4
5.4
:
-3.4
3.3
1.4
1.6
-0.4
3.1
3.6
:
1.2

4.1
3.3
:
-0.8
2.1
3.1
:
7.5
2.1
1.5
1.6
-0.1
1.5
-1.3
:
2.1

5.7
2.3
:
-0.9
1.7
7.4
:
6.6
2.2
-2.9
2.7
0.8
4.1
6.4
:
1.4

5.1
1.8
:
0.7
1.6
7.1
:
7.9
2.4
2.2
1.0
0.1
3.2
1.1
:
2.7

4.3
2.2
:
1.0
2.2
3.1
:
10.4
2.2
-2.2
1.6
0.3
1.9
1.1
:
0.6

4.5
5.4
:
9.5
2.0
6.5
:
3.3
4.4
7.8
-1.7
0.6
2.9
7.6
:
-0.8

2.1
2.4
:
8.8
2.1
3.3
:
0.7
3.5
6.6
4.7
1.9
1.0
-1.1
:
0.6

1.5
-3.2
:
9.3
2.4
3.1
:
1.3
3.0
1.2
-0.8
2.1
2.9
4.1
:
0.4

1.2
3.6
:
9.9
2.0
2.7
:
4.1
4.2
2.3
1.6
2.6
2.8
3.0
:
1.3

1.3
-6.4
:
2.1
1.0
-0.5
:
6.4
2.2
2.4
1.2
1.4
3.0
2.5
:
1.2

Final consumption expenditure: general government growth rates (t/t-4)

EU-27

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

3.0

2.0

1.0

0.0

04Q03

04Q04

05Q01

05Q02

05Q03

05Q04

06Q01

06Q02

06Q03

06Q04

07Q01

07Q02

:
:
:
1.6
1.1
0.8
:
6.9
:
1.1
:
1.9
2.9
:
:
0.7

3.0

2.0

1.0

0.0

85

EUROSTATISTICS

3.2.4.a

Gross ﬁ xed capital formation
Percentage change on previous period (t/t-1)

Seasonally adjusted data (at 1995 prices)

2004

2005

2006

2007

04Q03 04Q04 05Q01 05Q02 05Q03 05Q04 06Q01 06Q02 06Q03 06Q04 07Q01 07Q02

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

3.0

2.5

2.0

1.5

1.0

0.5

0.0

-0.5

0.3
0.7
-1.2
:
0.4
4.2
0.4
:
1.1
:
2.0
0.4
-0.8
-0.4
4.7
2.1

0.2
0.2
0.3
:
0.0
0.8
-0.3
:
3.7
:
0.8
1.2
-0.8
0.7
6.4
-0.3

0.2
0.3
2.6
:
0.9
0.1
-0.9
:
0.8
:
1.7
0.7
-1.2
-0.1
5.6
4.0

1.6
1.5
3.1
:
0.7
5.2
1.0
:
9.5
:
3.3
0.9
1.9
0.4
5.5
0.5

1.4
1.7
-2.2
:
1.3
2.5
1.8
:
-5.1
:
0.3
1.7
1.8
1.7
4.1
4.3

0.8
1.0
0.1
:
0.7
2.4
3.2
:
6.1
:
1.6
0.6
-1.7
2.9
4.5
3.1

0.6
1.0
3.4
:
4.1
2.3
-2.2
:
1.2
:
2.3
0.4
1.8
0.0
4.3
2.1

2.7
2.8
2.0
:
1.3
6.2
6.3
:
-9.5
:
1.3
1.9
0.4
4.5
4.5
3.7

0.7
1.1
1.6
:
1.5
1.2
0.9
:
10.4
:
1.4
0.6
-0.4
-2.5
4.5
2.2

1.7
2.0
0.6
:
1.0
2.0
2.0
:
1.3
:
1.8
1.3
2.0
0.0
2.9
3.6

2.0
1.9
3.6
:
-2.2
2.5
2.1
:
11.8
:
1.9
1.2
0.7
1.1
2.5
20.2

Gross ﬁ xed capital formation growth rates (t/t-1)

EA-13

-0.2
-0.2
:
:
:
-3.0
-1.3
:
:
:
1.3
0.1
:
:
:
-6.1

3.0

2.5

2.0

1.5

1.0

0.5

0.0

-0.5

04Q03

04Q04

05Q01

05Q02

05Q03

05Q04

06Q01

06Q02

06Q03

06Q04

07Q01

07Q02

Gross fixed capital formation (GFCF, ESA 1995, 3.102) consists of resident producers’ acquisitions, less disposals, of fixed assets
during a given period plus certain additions to the value of non-produced assets realised by the productive activity of producer or
institutional units. Disposals of fixed assets are treated as negative acquisitions. It can be distinguished between equipment and
construction.

86

DETAILED TABLES

3.2.4.a

Gross ﬁ xed capital formation (continued)
Percentage change on previous period (t/t-1)

Seasonally adjusted data (at 1995 prices)

2004

2005

2006

2007

04Q03 04Q04 05Q01 05Q02 05Q03 05Q04 06Q01 06Q02 06Q03 06Q04 07Q01 07Q02

-12.8
2.1
:
-1.0
2.3
1.8
-0.5
:
2.6
3.1
-0.9
2.5
1.4
2.8
1.8
0.1

-5.6
0.6
:
1.4
0.4
1.6
-1.5
:
-1.4
2.2
1.3
2.9
-1.0
11.9
1.3
0.5

9.9
1.2
:
0.8
-1.2
0.4
-1.2
:
-0.7
6.4
0.6
0.5
0.2
-6.8
0.8
1.1

-2.7
3.2
:
2.6
0.7
2.2
0.9
:
2.0
4.8
0.4
2.3
-0.1
4.1
1.9
0.5

3.8
0.5
:
2.1
0.9
1.8
-2.7
:
-0.6
5.0
2.9
2.3
2.7
0.1
1.6
1.7

17.0
-0.4
:
-2.9
0.1
4.3
-0.6
:
4.4
2.8
2.5
0.9
1.3
13.3
0.5
-0.9

-12.1
-0.4
:
3.2
0.4
2.2
1.4
:
1.7
-1.7
0.5
2.0
1.9
-9.2
1.9
2.1

6.6
-2.3
:
3.7
1.0
6.4
1.0
:
3.6
2.8
1.1
2.3
2.3
8.3
-0.1
0.5

-7.4
-0.9
:
2.4
1.5
5.2
-3.2
:
5.1
1.0
0.4
1.6
2.1
-0.3
-1.2
-0.2

8.8
-0.7
:
1.5
1.5
4.5
-1.9
:
4.3
2.3
-1.5
2.7
3.1
2.4
-1.4
2.8

3.0
-0.6
:
1.2
1.5
6.8
3.1
:
5.5
0.7
2.2
3.2
1.1
-0.7
-1.0
-0.1

Gross ﬁ xed capital formation growth rates (t/t-1)

EU-27

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

3.0

2.5

2.0

1.5

1.0

0.5

0.0

-0.5

04Q03

04Q04

05Q01

05Q02

05Q03

05Q04

06Q01

06Q02

06Q03

06Q04

07Q01

07Q02

:
:
:
-0.3
0.8
4.1
:
:
:
3.1
:
2.0
-1.1
:
1.0
-0.1

3.0

2.5

2.0

1.5

1.0

0.5

0.0

-0.5

87

EUROSTATISTICS

3.2.4.b

Gross ﬁ xed capital formation
Percentage change on the corresponding period of the previous year (t/t-4)

Non-seasonally adjusted data (at 1995 prices)

2004

2005

2006

2007

04Q03 04Q04 05Q01 05Q02 05Q03 05Q04 06Q01 06Q02 06Q03 06Q04 07Q01 07Q02

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

8.0

6.0

4.0

2.0

0.0

1.9
3.7
8.4
:
3.2
10.1
-1.0
16.1
5.0
:
5.6
3.4
1.6
10.1
20.7
17.3

2.1
2.8
7.8
:
3.5
6.7
0.3
4.1
0.6
:
4.7
3.5
0.6
6.4
19.8
8.2

0.2
0.8
3.8
:
0.5
6.1
-4.3
4.8
12.2
:
6.2
4.0
-2.8
2.6
25.5
9.1

3.5
3.6
6.5
:
1.9
12.3
2.7
12.5
15.7
:
8.0
4.0
-0.7
0.4
26.7
4.0

3.2
3.5
1.0
:
2.9
9.3
1.1
13.2
8.4
:
6.8
4.4
1.8
2.9
26.8
8.8

3.3
4.0
4.4
:
3.6
10.4
3.9
18.9
11.0
:
6.4
3.8
-0.1
4.8
17.8
14.2

6.0
6.4
5.2
:
6.8
14.8
6.3
18.9
11.7
:
8.9
4.2
4.4
6.1
19.5
10.5

4.1
5.2
1.8
:
7.5
12.3
4.8
10.0
-7.6
:
6.2
3.2
1.9
10.3
16.2
13.4

4.4
5.6
7.9
:
7.8
13.0
6.2
27.3
6.9
:
7.0
3.2
-0.7
4.1
22.5
10.2

5.7
7.0
9.4
:
8.1
11.9
7.1
22.2
2.3
:
5.5
4.2
3.7
0.9
15.7
13.1

7.7
8.3
6.5
:
1.5
12.5
11.9
18.3
13.3
:
7.6
4.5
2.5
3.3
17.9
32.3

Gross ﬁ xed capital formation growth rates (t/t-4)

EA-13

5.0
4.9
:
:
:
2.6
3.7
:
:
:
6.1
3.2
:
:
:
20.5

8.0

6.0

4.0

2.0

0.0

04Q03

04Q04

05Q01

05Q02

05Q03

05Q04

06Q01

06Q02

06Q03

06Q04

07Q01

07Q02

Gross fixed capital formation (GFCF, ESA 1995, 3.102) consists of resident producers’ acquisitions, less disposals, of fixed assets
during a given period plus certain additions to the value of non-produced assets realised by the productive activity of producer or
institutional units. Disposals of fixed assets are treated as negative acquisitions. It can be distinguished between equipment and
construction.

88

DETAILED TABLES

3.2.4.b

Gross ﬁ xed capital formation (continued)
Percentage change on the corresponding period of the previous year (t/t-4)

Non-seasonally adjusted data (at 1995 prices)

2004

2005

2006

2007

04Q03 04Q04 05Q01 05Q02 05Q03 05Q04 06Q01 06Q02 06Q03 06Q04 07Q01 07Q02

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

10.0

8.0

6.0

4.0

2.0

0.0

-3.8
11.9
:
-2.4
2.4
6.1
:
18.8
9.6
8.5
2.6
8.9
9.3
6.9
:
1.7

-4.1
0.0
:
-1.9
2.5
9.0
:
2.7
7.2
2.2
3.3
11.6
3.6
28.9
:
-1.0

-9.6
4.8
:
-1.3
-1.7
1.7
:
4.9
-0.3
6.8
2.0
8.8
0.3
13.9
:
1.3

-11.4
9.1
:
3.6
4.5
5.4
:
8.5
1.0
15.7
2.4
9.7
0.2
12.6
:
2.6

5.0
6.9
:
7.5
0.0
6.0
:
10.4
-2.1
21.0
6.3
9.5
1.4
9.1
:
3.7

28.2
2.0
:
2.5
-1.6
9.2
:
20.7
7.0
24.4
4.0
4.9
4.1
9.6
:
2.3

4.1
9.9
:
4.8
6.8
8.9
:
11.3
8.6
13.8
8.8
9.9
6.2
8.1
:
3.8

13.1
-3.6
:
5.8
1.0
14.6
:
14.4
8.5
3.6
7.7
8.5
8.2
11.0
:
3.7

1.5
-4.4
:
6.7
4.4
19.5
:
17.3
14.6
6.7
5.3
5.4
8.0
10.7
:
1.6

-5.3
-4.8
:
11.2
3.8
18.5
:
18.0
15.2
7.0
-4.0
7.9
9.5
1.0
:
4.5

11.3
-2.3
:
8.9
8.4
28.0
:
17.2
21.6
7.7
5.2
12.7
9.4
9.6
:
3.1

Gross ﬁ xed capital formation growth rates (t/t-4)

EU-27

04Q03 04Q04

05Q01

05Q02

05Q03

05Q04

06Q01

06Q02

06Q03

06Q04

07Q01

07Q02

:
:
:
4.8
6.6
22.1
:
19.4
:
6.3
:
9.2
5.1
:
:
2.5

10.0

8.0

6.0

4.0

2.0

0.0

89

EUROSTATISTICS

3.2.4.c

Gross ﬁ xed capital formation
Percentage change on previous period (t/t-1)

Seasonally adjusted data (at 1995 prices)

Agriculture

Transport

Machinery and
equipment

Residential
buildings

Non-residential
buildings

Intangible assets

2007

2007

2007

2007

2007

2007

07Q01 07Q02 07Q01 07Q02 07Q01 07Q02 07Q01 07Q02 07Q01 07Q02 07Q01 07Q02

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

4.0

3.0

2.0

1.0

0.0

-1.0

-2.0

0.0
-45.0
:
:
:
:
:
:
:
-

:
:
:
:
:
:
:
:
:
-
82.3 -42.7
-1.2
-1.6
:
:
-6.7
-0.3
:
:
0.0
0.0

3.4
2.8
:
:
:
35.0
:
:
:
-
0.5
1.7
-0.6
37.9
:
89.2

:
:
:
:
:
-22.8
:
:
:
-
1.8
0.3
:
-8.1
:
-25.1

3.4
2.8
:
:
:
-2.1
:
:
:
-
3.9
2.2
0.1
-2.5
:
-1.7

:
:
:
:
:
-2.1
:
:
:
-
3.7
-0.1
:
3.6
:
4.4

2.9
3.1
:
:
:
1.6
0.4
:
:
-
1.0
0.2
1.4
-0.2
:
41.8

:
:
:
:
:
2.2
-4.8
:
:
-
0.7
0.4
:
0.3
:
4.8

2.2
2.3
:
:
:
1.8
2.8
:
:
-
2.7
2.3
1.6
2.3
:
22.7

:
:
:
:
:
-1.4
-4.9
:
:
-
0.2
-0.2
:
2.5
:
-10.7

-1.0
-0.3
:
:
:
-6.0
-2.4
:
:
-
0.7
-0.3
0.6
-0.4
:
12.0

Gross ﬁ xed capital formation growth rates (t/t-1), 2007 q01

EA-13

:
:
:
:
:
2.0
2.8
:
:
-
2.1
0.5
:
-0.4
:
-0.3

4.0

3.0

2.0

1.0

0.0

-1.0

-2.0

Agriculture

Transport

Machinery
and
equipment

Res. Buildings

Non-Res.
Buildings

Intangible
assets

Gross fixed capital formation (GFCF, ESA 1995, 3.102) consists of resident producers’ acquisitions, less disposals, of fixed assets
during a given period plus certain additions to the value of non-produced assets realised by the productive activity of producer
or institutional units. GFCF includes acquisition less disposals of, e.g. buildings, structures, machinery and equipment, mineral
exploration, computer software, literary or artistic originals and major improvements to land such as the clearance of forests. The
growth rate with respect to the previous quarter (t/t-1) is calculated from seasonally adjusted (SA) figures. The ESA 95 (European
System of Accounts) regulation may be referred to for more specific explanations on methodology.

90

DETAILED TABLES

3.2.4.c

Gross ﬁ xed capital formation (continued)
Percentage change on previous period (t/t-1)

Seasonally adjusted data (at 1995 prices)

Agriculture

Transport

Machinery and
equipment

Residential
buildings

Non-residential
buildings

Intangible assets

2007

2007

2007

2007

2007

2007

07Q01 07Q02 07Q01 07Q02 07Q01 07Q02 07Q01 07Q02 07Q01 07Q02 07Q01 07Q02

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

10.0

0.0

-10.0

-20.0

-30. 0

-40.0

-50.0

-2.9
:
-
2.8
5.2
:
0.1
:
-5.3
-37.9
7.7
0.0
-50.8
:
:
:

:
:
-
:
4.7
:
0.1
:
:
-18.9
:
:
:
:
:
:

9.5
:
-
-8.8
-0.2
:
8.5
:
4.6
10.2
8.7
9.1
-4.5
64.5
:
:

:
:
-
:
-0.5
:
19.1
:
:
-0.7
:
:
-3.0
:
:
:

-6.6
:
-
6.9
1.9
:
-2.9
:
3.0
2.7
-6.1
16.8
2.9
0.4
:
:

:
:
-
:
1.3
:
3.3
:
:
2.9
:
:
0.9
:
:
:

-13.2
:
-
4.2
0.5
:
6.4
:
6.0
-11.3
8.6
3.7
3.8
:
:
:

:
:
-
:
0.5
:
-1.5
:
:
4.9
:
:
-1.3
:
:
:

6.2
:
-
3.5
1.5
:
:
:
3.5
2.6
4.6
-0.7
0.6
:
:
:

:
:
-
:
1.2
:
:
:
:
-0.8
:
:
-0.5
:
:
:

-16.9
:
-
-18.6
1.5
:
4.4
:
1.3
-8.9
4.2
-0.1
-1.5
20.1
:
:

Gross ﬁ xed capital formation growth rates (t/t-1), 2007 q01

EU-27

Agriculture

Transport

Machinery
and
equipment

Res. Buildings Non-Res.
Buildings

Intangible
assets

:
:
-
:
1.5
:
-0.5
:
:
39.2
:
:
-4.1
:
:
:

10.0

0.0

-10. 0

-20. 0

-30. 0

-40. 0

-50. 0

91

EUROSTATISTICS

3.2.4.d

Gross ﬁ xed capital formation
Percentage change on the corresponding period of the previous year (t/t-4)

Non-seasonally adjusted data (at 1995 prices)

Agriculture

Transport

Machinery and
equipment

Residential
buildings

Non-residential
buildings

Intangible assets

2007

2007

2007

2007

2007

2007

07Q01 07Q02 07Q01 07Q02 07Q01 07Q02 07Q01 07Q02 07Q01 07Q02 07Q01 07Q02

EA-13
EU-27
BE
BG
CZ
DK
DE
EE
IE
EL
ES
FR
IT
CY
LV
LT

10.0

8.0

6.0

4.0

2.0

0.0

2.4
55.9
:
:
-3.0
-50.0
:
:
:
-
44.4
-2.6
:
-26.9
:
236.6

:
:
:
:
:
:
:
:
:
-
1.8
-4.2
:
2.7
:

4.6
5.8
:
:
3.8
36.6
:
:
:
-
11.4
3.5
-5.3
29.0
:
0.0 121.8

:
:
:
:
:
-10.3
:
:
:
-
4.2
0.3
:
29.2
:
26.3

7.3
6.9
:
:
1.3
2.2
:
:
:
-
17.5
6.0
0.8
5.4
:
11.2

:
:
:
:
3.8
-3.3
:
:
:
-
14.0
4.6
:
8.2
:
16.9

8.2
8.3
:
:
4.5
20.9
11.8
:
:
-
4.3
1.4
5.3
0.1
:
42.8

:
:
:
:
0.3
13.2
-1.7
:
:
-
3.9
0.7
:
0.3
:
42.5

9.6
10.2
:
:
8.8
11.6
18.2
:
:
-
6.6
7.1
5.1
1.7
:
29.1

:
:
:
:
:
2.4
1.4
:
:
-
5.9
4.9
:
6.3
:
17.3

3.8
3.9
:
:
-20.7
7.4
4.0
:
:
-
3.3
3.3
3.4
-1.5
:
30.3

Gross ﬁ xed capital formation growth rates (t/t-4), 2007 q01

EA-13

:
:
:
:
:
5.2
4.9
:
:
-
4.2
3.1
:
-1.6
:
28.8

10.0

8.0

6.0

4.0

2.0

0.0

Agriculture

Transport

Machinery
and
equipment

Res. Buildings Non-Res.
Buildings

Intangible
assets

Gross fixed capital formation (GFCF, ESA 1995, 3.102) consists of resident producers’ acquisitions, less disposals, of fixed assets
during a given period plus certain additions to the value of non-produced assets realised by the productive activity of producer
or institutional units. GFCF includes acquisition less disposals of, e.g. buildings, structures, machinery and equipment, mineral
exploration, computer software, literary or artistic originals and major improvements to land such as the clearance of forests. The
growth rate with respect to the previous quarter (t/t-1) is calculated from seasonally adjusted (SA) figures. The ESA 95 (European
System of Accounts) regulation may be referred to for more specific explanations on methodology.

92

DETAILED TABLES

3.2.4.d

Gross ﬁ xed capital formation (continued)
Percentage change on the corresponding period of the previous year (t/t-4)

Non-seasonally adjusted data (at 1995 prices)

Agriculture

Transport

Machinery and
equipment

Residential
buildings

Non-residential
buildings

Intangible assets

2007

2007

2007

2007

2007

2007

07Q01 07Q02 07Q01 07Q02 07Q01 07Q02 07Q01 07Q02 07Q01 07Q02 07Q01 07Q02

LU
HU
MT
NL
AT
PL
PT
RO
SI
SK
FI
SE
UK
NO
US
JP

100.0

50.0

0.0

-3.6
:
-
2.3
3.7
:
:
:
-9.9
16.3
7.1
0.0
-6.2
:
:
:

:
:
-
4.4
12.4
:
:
:
:
5.7
:
-0.7
:
:
:
:

48.6
:
-
-4.5
8.6
:
:
:
22.5
13.2
-0.1
10.3
11.1
9.1
:
:

:
:
-
-6.8
-4.7
:
:
:
:
10.3
:
-6.9
-2.7
:
:
:

-1.6
:
-
22.3
7.1
:
:
:
10.8
1.9
-1.7
22.5
9.7
7.3
:
:

:
:
-
12.8
6.7
:
:
:
:
7.6
:
21.0
12.4
:
:
:

-15.4
:
-
8.6
6.1
:
:
:
18.1
7.1
3.0
11.3
7.0
:
:
:

:
:
-
3.8
2.0
:
:
:
:
10.7
:
10.5
0.9
:
:
:

17.8
:
-
8.4
18.9
:
:
:
34.3
13.1
11.6
6.5
10.7
:
:
:

:
:
-
5.7
9.2
:
:
:
:
1.0
:
5.1
4.9
:
:
:

7.8
:
-
4.6
7.9
:
:
:
8.5
17.2
5.8
3.2
8.3
48.6
:
:

Gross ﬁ xed capital formation growth rates (t/t-4), 2007 q01

EU-27

Agriculture

Transport

Machinery
and
equipment

Res. Buildings Non-Res.
Buildings

Intangible
assets

:
:
-
3.9
10.6
:
:
:
:
3.9
:
2.9
4.7
:
:
:

100.0

50.0

0.0

93

EUROSTATISTICS

3.2.5.a

Retail trade deﬂ ated turnover index
Percentage change on previous period (t/t-1)

Data adjusted by working days - Seasonally adjusted data

2006

2007

06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

1.5

1.0

0.5

0.0

-0.5

-1.0

-1.5

0.7
0.5
-2.4
0.9
0.3
0.8
0.8
-0.1
1.0
-0.2
1.4
0.0
0.2
0.7
2.4
1.5

-0.9
-0.4
-0.4
1.1
0.3
-0.8
-1.8
1.9
-0.6
0.8
0.1
-0.1
-0.3
0.8
1.3
0.5

0.2
0.2
-0.2
0.8
0.8
0.0
0.4
1.2
2.1
-1.6
-0.5
0.2
-0.5
0.4
5.6
0.4

0.5
0.4
1.8
0.7
1.1
0.8
-0.5
2.1
0.1
0.8
1.0
0.4
0.5
0.2
-1.1
1.3

0.4
0.8
-2.0
0.9
0.5
1.5
3.6
2.0
0.4
1.4
0.4
-0.3
-0.1
0.8
6.3
1.8

-1.0
-0.9
0.6
-0.2
0.0
-3.0
-5.2
1.1
0.6
-1.1
-0.2
0.8
-1.0
-0.1
-0.2
1.3

0.4
0.6
-1.5
0.6
1.7
0.0
1.4
-0.3
1.0
0.0
0.3
0.1
0.2
1.3
1.5
-0.3

0.6
0.8
1.0
1.3
0.7
4.7
0.2
3.9
0.4
0.1
1.1
0.8
0.4
1.5
1.4
3.5

-0.1
-0.2
0.5
-0.4
-0.3
-3.0
1.8
-3.8
2.2
-1.1
-1.8
0.1
-0.8
-1.0
-0.7
-2.4

-0.8
-0.2
-1.5
0.5
0.5
-1.5
-3.2
2.8
1.6
1.7
1.1
-0.4
-0.2
1.1
2.6
3.7

0.6
0.6
3.0
0.4
0.6
2.3
1.2
1.2
-2.9
0.7
0.4
0.4
0.0
1.2
2.0
1.8

Retail trade deﬂ ated turnover index growth rates (t/t-1)

EA-13

0.1
0.1
-3.5
0.7
c
0.8
0.3
-1.5
c
c
0.0
0.2
c
c
0.8
-2.8

1.5

1.0

0.5

0.0

-0.5

-1.0

-1.5

06m08

06m09

06m10

06m11

06m12

07m01

07m02

07m03

07m04

07m05

07m06

07m07

The Retail Trade Turnover Index is a business cycle indicator that shows the monthly activity of the retail sector in volume. It is a
short-term indicator for final domestic demand and it accounts for 40% of total private consumption.

The deflated turnover index, represents the value of turnover in constant prices and as such is a quantity index.

It can be calculated as turnover at current prices, deflated by the deflator of sales, or as a quantity index derived directly from the
quantity of goods sold.

94

DETAILED TABLES

3.2.5.a

Retail trade deﬂ ated turnover index (continued)
Percentage change on previous period (t/t-1)

Data adjusted by working days - Seasonally adjusted data

2006

2007

06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07

1.4
0.5
:
1.6
3.1
-0.2
0.8
0.9
-0.3
0.7
0.1
0.4
0.5
0.3
-0.3
0.6

-2.0
-0.3
:
-1.3
-3.5
1.4
0.7
2.8
-0.9
2.0
1.2
1.1
-0.3
1.7
-0.3
-1.5

0.3
-0.4
:
0.7
0.4
0.3
-3.0
1.5
0.7
0.1
-0.6
0.8
0.9
0.2
0.4
-0.1

-0.7
0.0
:
0.5
-0.1
0.8
-0.2
1.9
2.4
0.3
1.1
0.3
0.1
0.6
0.4
0.7

5.2
0.2
:
0.4
2.4
3.5
0.8
2.1
-1.9
-1.4
0.5
3.2
1.1
0.5
0.5
-0.1

-4.1
-0.5
:
-1.0
-0.5
1.6
0.2
-20.7
-1.9
-2.5
0.0
-3.0
-0.6
1.0
-0.1
3.1

0.9
-0.5
:
1.1
1.0
1.7
1.0
0.4
-0.1
3.1
1.1
1.1
0.9
0.2
0.4
-0.3

2.2
0.0
:
0.8
-0.6
2.4
2.7
20.8
7.2
1.7
2.2
1.6
0.6
1.4
0.3
-1.6

-1.6
-0.7
:
0.6
-0.3
-0.7
-5.4
1.7
-5.0
0.5
-2.3
0.2
0.0
0.4
-0.8
0.0

-6.9
-0.2
:
-2.0
-1.7
1.2
0.2
3.8
0.5
2.7
1.1
0.5
0.3
-0.6
1.0
0.3

10.6
-0.4
:
1.7
2.1
1.6
2.7
:
0.4
-0.3
1.5
2.0
0.0
4.7
-1.2
-0.6

Retail trade deﬂ ated turnover index growth rates (t/t-1)

EU-27

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

1.5

1.0

0.5

0.0

-0.5

-1.0

06m08

06m09

06m10

06m11

06m12

07m01

07m02

07m03

07m04 07m05

07m06

07m07

-0.4
c
:
c
-1.6
-1.1
-1.2
:
-0.9
-0.6
-0.4
0.8
0.8
:
:
:

1.5

1.0

0.5

0.0

-0.5

-1.0

95

EUROSTATISTICS

3.2.5.b

Retail trade deﬂ ated turnover index
Percentage change on the corresponding period of the previous year (t/t-12)

Data adjusted by working days - Non-seasonally adjusted data

2006

2007

06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

4

3

2

1

0

-1

2.8
3.7
-1.8
13.7
6.6
3.1
3.3
16.6
8.1
10.5
4.0
2.5
-0.1
7.1
20.6
8.7

1.7
2.7
-1.4
15.9
4.8
0.8
1.5
17.3
6.7
11.9
3.9
1.3
-0.4
8.5
19.7
6.0

1.5
2.7
-2.6
14.8
5.8
0.8
2.3
17.6
9.3
5.2
2.9
1.2
-1.5
7.2
26.5
5.6

2.1
3.0
1.8
15.8
6.8
2.3
2.1
19.3
8.6
6.8
4.0
1.9
-0.1
4.9
21.9
6.1

3.0
4.2
-3.4
15.4
8.4
4.3
6.2
18.5
8.0
10.6
4.7
1.5
-0.7
6.2
27.2
7.6

0.9
2.0
4.4
11.7
5.3
-1.6
-3.0
20.7
6.9
6.0
4.1
3.2
-2.2
2.0
28.2
12.3

1.2
2.7
2.6
10.2
9.9
0.0
-1.6
18.4
7.7
3.9
3.6
2.6
-1.7
6.5
28.8
10.4

2.7
4.3
0.0
13.5
10.1
4.0
-0.1
22.3
8.4
3.3
5.2
4.7
0.3
13.1
27.8
16.0

1.6
2.8
-0.8
7.4
7.7
0.8
0.5
13.5
9.1
-1.6
1.5
4.5
-1.9
2.3
23.3
12.1

-0.1
1.6
-2.9
6.7
7.4
-2.2
-3.2
15.6
9.9
3.2
3.1
2.3
-2.0
6.2
24.3
15.9

1.0
2.4
2.6
6.4
7.0
0.8
-2.6
15.1
5.9
4.5
4.0
3.0
-1.7
10.4
24.4
15.8

Retail trade deﬂ ated turnover index growth rates (t/t-12)

EA-13

0.5
2.2
-5.2
5.8
c
3.1
-1.6
10.5
c
c
3.1
1.9
c
c
24.0
10.8

4

3

2

1

0

-1

06m08

06m09

06m10

06m11

06m12

07m01

07m02

07m03

07m04

07m05

07m06

07m07

The Retail Trade Turnover Index is a business cycle indicator that shows the monthly activity of the retail sector in volume. It is a
short-term indicator for final domestic demand and it accounts for 40% of total private consumption.

The deflated turnover index, represents the value of turnover in constant prices and as such is a quantity index.

It can be calculated as turnover at current prices, deflated by the deflator of sales, or as a quantity index derived directly from the
quantity of goods sold.

96

DETAILED TABLES

3.2.5.b

Retail trade deﬂ ated turnover index (continued)
Percentage change on the corresponding period of the previous year (t/t-12)

Data adjusted by working days - Non-seasonally adjusted data

2006

2007

06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

5

4

3

2

1

0

3.3
5.8
:
5.9
2.6
6.8
2.6
20.8
-2.1
8.3
5.0
8.2
4.2
5.3
:
:

1.4
4.2
:
2.6
0.8
10.1
3.3
26.6
1.4
10.8
6.4
9.3
2.9
8.2
:
:

1.1
2.1
:
3.0
0.8
9.1
0.2
21.9
2.6
9.9
4.6
9.3
3.9
8.0
:
:

1.0
2.1
:
3.3
0.6
9.0
1.0
20.7
2.3
9.7
5.2
7.5
3.1
7.8
:
:

6.6
3.3
:
3.6
3.3
13.2
2.3
26.3
-2.5
8.1
5.7
10.9
4.7
8.3
:
:

2.5
1.3
:
0.0
2.1
14.0
0.8
-1.1
0.3
1.0
3.8
6.1
3.3
6.0
:
:

0.2
-0.3
:
3.4
3.0
15.8
0.7
-3.7
-0.9
4.7
7.1
6.8
4.9
8.1
:
:

5.3
-0.2
:
3.8
3.1
18.8
3.7
16.3
10.1
6.2
9.7
9.6
5.6
9.1
:
:

-0.3
-2.5
:
3.5
1.4
13.8
-1.3
13.1
1.2
6.4
3.6
6.5
3.9
10.3
:
:

-9.9
-2.8
:
-1.5
0.1
13.6
-1.0
14.0
1.2
9.9
4.6
5.8
4.0
5.0
:
:

4.4
-3.6
:
2.4
1.0
14.4
2.0
16.4
0.8
7.5
6.7
8.6
3.6
12.2
:
:

Retail trade deﬂ ated turnover index growth rates (t/t-12)

EU-27

4.0
c
:
c
0.2
12.5
-0.9
:
-0.3
6.0
5.2
9.5
4.2
:
:
:

5

4

3

2

1

0

06m08

06m09

06m10

06m11

06m12

07m01

07m02

07m03

07m04

07m05

07m06

07m07

97

EUROSTATISTICS

3.2.6

Number of new car registrations
Growth index (2000=100)

Seasonally adjusted data

2006

2007

06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

105

100

95

90

-

-

98.6

-
93.5

96.8 104.0

99.7 108.0 110.9

96.3
98.1
98.4
-

98.4
98.9
98.0
-

95.8
96.7
101.7
-

99.9
95.7
97.9
99.6
94.9 100.6
-

97.3 100.1 101.1
99.7
98.4
99.1
90.2
99.0 101.2
-
-

98.6 100.0
94.5
97.5
97.9 100.0
92.4 102.1 104.8
-
91.2

:
:
:
-
-
103.2 104.3 101.9 106.0 104.9 100.8 108.0 105.9 103.7
92.7
128.9 132.1 129.7 136.4 131.1 128.8 133.5 127.4 118.7 109.0 123.6 115.8
95.3
162.7 182.0 170.3 183.0 180.9 178.4 195.4 196.5 206.2 197.4 195.4 206.3
67.8
95.3
106.6 107.2 110.4 106.9 108.2 110.5 116.9 111.3 122.0 107.7 115.4 119.4
92.9
94.4
99.1 101.3 101.3 100.7 110.8 104.8
-
267.7 307.5 312.8 327.2 364.1 351.9 414.9 417.1 390.7 378.3 396.6 427.4
188.1 211.4 203.8 219.8 209.4 204.3 235.5 222.5 231.6 233.8 262.6 255.0

67.8
68.9
88.5 102.4

66.4
71.3
89.0 101.3

90.8
98.9
-

94.6
93.1
-

94.9
96.2
-

91.8
97.4
-

92.1
87.9
-

92.4
95.7
-

68.7
89.3

66.3
88.8

65.1
90.0

63.2
92.0

63.5
95.2

62.5
88.6

76.8
92.0

93.9

90.1

97.6

91.5

88.4

93.3

91.7

93.1

91.3

-

-

-

-

-

Number of new car registrations growth index (2000=100)

EA-13

105

100

95

90

06m08

06m09

06m10

06m11

06m12

07m01

07m02

07m03

07m04

07m05

07m06

The new car registrations index shows the evolution of the amount of cars registered in the European Union.

It is an indicator of real income, consumer confidence and the perceived welfare level in Member States.

Further Metadata can easily and in SDDS format be accessed from the new Euro Indicators’ site http://www.europa.eu.int/comm/
eurostat/newcronos/info/notmeth/en/theme1/euroind/is/is.htm

98

DETAILED TABLES

3.2.6

Number of new car registrations (continued)
Growth index (2000=100)

Seasonally adjusted data

2006

2007

06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

105

100

95

90

76.0
-
81.2
94.5
78.5
73.5
-

81.8
-
85.2
99.5
79.5
77.4
-

90.0
-
81.1
99.6
69.2
73.5
-

85.7
-
82.4
103.5
67.4
73.0
-

87.7
83.7
80.8
-
-
-
94.0
84.9
83.6
99.9 102.3 103.5
69.9
74.7
74.6
71.7
72.2
75.4
-
-
-
102.1 100.4 103.8 102.8
98.2

124.2 119.7 122.0 128.0 125.6 116.0 116.7 122.8 120.6 110.5 123.7
77.5
82.8
97.4
85.3
-
-
-
-
89.8
83.6
87.2
81.9
95.7 102.5
94.6 101.9
80.9
81.3
76.5
75.5
80.0
73.3
71.3
70.5
-
-
-
-
99.6 101.8 104.9 107.2 106.6 107.1 110.2
99.7
96.1
96.5
97.7
93.8
107.3 109.3 105.2 102.9 107.1 100.1 100.7 101.8 100.0
104.1 100.9
97.9
105.7 106.0 106.0 105.7 104.5 106.1 105.4 105.8 105.8 105.1 105.4
118.1 114.5 105.9 110.8 145.1 158.7 134.0 130.5 112.3 134.7 131.2
86.3
86.7
84.5
95.3
99.9 101.1

95.1
96.4
97.6 105.7 100.0 103.5 100.8 103.4

84.4
103.4 102.7 101.7 101.4

96.1 110.9

90.2
99.5

83.3
96.1

85.5
95.7

90.7
97.5

86.5

99.8

87.0

84.4

98.1

97.9

97.6

94.6

Number of new car registrations growth index (2000=100)

EU-27

06m08

06m09

06m10

06m11

06m12

07m01

07m02

07m03

07m04

07m05

07m06

:
:
-
:
:
:
:
-
:
:
:
:
:
:
81.5
92.3

105

100

95

90

The number of car registrations accounts for all motorised road vehicles intended for the transport of passengers, with seats for a
maximum of nine persons including the driver. Also included are hire vehicles for mixed use (for the transport of goods as well as
or instead of passengers).
Data is transmitted by the Member States to Eurostat on a voluntary basis. As this indicator was not foreseen by the STS-Regulation
the normal procedure is to use data collected by the European Automobile Manufacturers Association (ACEA).
Eurostat receives gross data and performs the seasonal adjustments by using Tramo/Seats. Estimates of the missing components are
computed with ARIMA modelling.

99

EUROSTATISTICS

3.2.7

Consumer conﬁ dence indicator
Seasonally adjusted data

2006

2007

Balance

06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07 07m08

-8.0
-7.3
-1.7
-30.9
1.3
15.6
-6.7
10.5
0.8
-32.5
-14.1
-8.8
-14.1
-35.6
0.3
2.4

-7.8
-6.4
4.0
-27.0
4.4
16.0
-7.2
12.1
-1.5
-29.7
-10.7
-7.9
-17.6
-30.3
-3.7
0.9

-7.2
-6.3
1.8
-29.4
-0.8
19.3
-4.8
10.1
-0.4
-32.6
-9.5
-7.4
-17.3
-28.1
-4.5
2.9

-6.3
-5.6
-6.0
-29.9
2.2
16.9
-1.5
11.6
-1.6
-28.4
-9.9
-10.9
-13.0
-26.9
-5.7
3.0

-6.5
-6.3
-2.2
-27.6
1.0
15.6
-0.7
12.4
-1.6
-30.9
-12.2
-10.7
-16.1
-30.5
-4.7
5.4

-4.8
-4.6
-0.7
-24.0
4.5
18.2
2.3
12.7
-6.4
-30.3
-10.4
-8.3
-14.6
-29.5
-5.7
7.4

-4.4
-4.1
-0.2
-24.4
3.9
18.5
3.9
9.1
-10.5
-28.9
-10.2
-8.9
-13.4
-31.8
-5.3
8.5

-4.0
-3.9
1.3
-20.7
0.0
16.0
6.7
10.8
-8.3
-31.8
-11.7
-6.8
-18.5
-30.9
-6.1
8.5

-1.3
-1.4
3.2
-22.0
-3.4
15.6
9.2
5.7
-4.2
-28.3
-12.6
1.6
-17.9
-32.6
-6.7
9.4

-1.9
-1.7
1.3
-21.4
-2.5
16.2
8.3
7.2
-6.7
-28.3
-12.6
0.4
-19.4
-31.0
-3.7
8.7

-1.8
-1.6
0.6
-24.5
-2.7
16.6
8.8
2.7
-11.8
-28.5
-11.0
-0.8
-18.8
-25.0
-5.2
7.0

-3.1
-2.5
-1.1
-30.2
-1.3
14.2
5.6
-1.6
-9.6
-30.0
-11.9
:
-20.2
-27.9
-7.8
6.6

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

Source: DG ECFIN

Consumer conﬁ dence indicator balance

EA-13

0

-2

-4

-6

-8

-10

06m09

06m10

06m11 06m12

07m01

07m02

07m03

07m04

07m05

07m06

07m07

07m08

0

-2

-4

-6

-8

-10

Each confidence indicator is calculated as the arithmetic average of the balances (in percentage points) of the answers to specific
questions chosen among the full set of questions of each sector.
For the Consumer confidence indicator:
1. Financial situation over the next 12 months
2. General economic situation over the next 12 months
3. Unemployment expectations over the next 12 months (with inverted sign)
4. Savings over the next 12 months.

100

DETAILED TABLES

3.2.7

Consumer conﬁ dence indicator (continued)
Seasonally adjusted data

2006

2007

Balance

06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07 07m08

2.2
-48.1
-27.7
16.9
8.1
-14.4
-30.2
-21.6
-12.6
-6.0
18.1
14.2
-6.8
-
-
-

-0.6
-47.1
-26.5
20.5
9.2
-14.4
-32.2
-22.2
-13.6
-5.4
16.8
17.7
-3.5
-
-
-

1.4
-49.2
-21.6
14.5
9.6
-10.1
-31.7
-21.0
-11.3
-3.0
19.8
16.1
-5.3
-
-
-

3.6
-50.6
-24.0
16.1
8.1
-6.8
-29.0
-20.0
-11.9
6.5
18.2
17.9
-5.8
-
-
-

5.2
-51.8
-19.3
19.3
12.7
-12.7
-31.1
-18.3
-9.7
5.7
19.2
16.3
-7.4
-
-
-

2.9
-51.3
-26.7
16.6
12.8
-6.9
-32.1
-16.5
-7.4
3.8
16.4
19.7
-6.2
-
-
-

4.5
-49.4
-28.8
17.7
10.8
-8.6
-34.9
-14.1
-5.8
1.3
17.1
19.2
-5.1
-
-
-

7.1
-49.7
-20.3
17.0
14.0
-3.7
-33.5
-14.1
-9.3
4.4
19.9
23.5
-6.6
-
-
-

11.0
-49.0
-18.8
15.9
15.0
-5.2
-31.7
-14.8
-5.6
-0.3
18.8
22.7
-3.2
-
-
-

8.1
-45.7
-16.5
20.9
16.7
-4.2
-32.8
-14.7
-8.4
0.3
21.3
20.7
-2.9
-
-
-

8.8
-45.4
-17.0
20.5
15.7
-2.3
-33.0
-10.1
-4.4
1.8
20.6
21.3
-2.8
-
-
-

7.6
-45.2
:
18.5
16.5
-5.3
-35.2
-11.4
-6.6
0.6
20.8
19.8
-2.1
-
-
-

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

Source: DG ECFIN

Consumer conﬁ dence indicator balance

EU-27

0

-2

-4

-6

-8

06m09

06m10

06m11 06m12

07m01

07m02

07m03

07m04

07m05 07m06

07m07

07m08

0
-2

-4

-6

-8

The consumer confidence indicator gives a synthetic view of the opinion of the consumer on the economic situation. Each question
is expressed as a balance between the percentage of optimists and pessimists.
The confidence is then expressed as an arithmetic average of several balances. Balances are seasonally adjusted.
National surveys are conducted in the first fortnight of each month. Harmonised results for the Member countries, the EU-15, the
euro area and the future Member States are published on the last working day of the current month.
A User’s Guide containing a complete description of the data handling, as well as of the aggregation method used to build the EU and
euro area aggregates can be found at: http://europa.eu.int/comm/economy_finance/indicators/businessandconsumersurveys_en.htm

101

EUROSTATISTICS

3.2.8

Retail trade conﬁ dence indicator
Seasonally adjusted data

2006

2007

Balance

06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07 07m08

3.4
4.4
4.6
23.5
20.0
26.3
-10.0
34.5
-5.9
27.0
-4.4
2.2
31.4
2.8
17.1
35.2

3.6
3.0
-0.1
24.6
18.7
24.8
-11.2
34.2
-5.8
26.5
-7.1
4.8
32.9
4.3
18.4
36.5

2.7
5.3
-1.9
25.7
20.9
27.6
-11.3
33.6
-6.5
24.9
-11.0
1.2
36.8
-0.1
19.2
40.4

-0.2
1.6
-2.0
26.5
17.5
24.8
-9.3
31.4
-5.9
27.1
-7.8
-0.1
18.0
-2.8
20.2
38.4

-1.3
2.1
1.6
28.6
20.3
27.6
-8.3
31.0
-7.9
30.5
-12.0
-2.7
15.6
-0.6
22.1
41.9

-1.1
2.7
7.1
27.8
23.6
23.2
-13.2
33.1
-10.2
35.2
-10.0
1.4
14.7
9.1
22.4
37.3

-0.1
4.4
7.1
25.9
25.1
21.7
-11.0
32.5
-10.9
28.3
-11.9
1.4
18.5
11.1
22.9
35.8

0.0
5.5
11.4
21.3
26.1
21.8
-8.2
35.9
-5.1
31.8
-11.7
3.1
10.0
15.2
22.5
39.9

2.2
5.0
8.0
21.5
25.4
20.2
-7.6
30.4
-9.7
36.7
-8.7
3.7
17.1
17.1
21.3
26.5

1.8
4.8
5.1
22.2
22.9
19.6
-10.4
30.1
-4.4
33.9
-9.0
5.4
19.0
9.3
18.7
25.0

2.6
4.8
1.8
19.6
21.6
21.0
-8.3
24.9
-1.2
39.4
-14.6
7.5
20.4
11.8
17.6
35.1

3.7
6.0
2.6
20.8
26.7
17.1
-10.3
26.6
-7.3
:
-7.5
:
26.6
16.8
16.3
26.9

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

Source: DG ECFIN

Retail trade conﬁ dence indicator balance

4

2

0

-2

EA-13

4

2

0

-2

06m09

06m10

06m11

06m12

07m01

07m02

07m03

07m04 07m05 07m06

07m07

07m08

Business surveys provide a rapid means of compiling simple statistics with the results available before those of traditional statistical
methods, and provide also information on areas not covered by quantitative statistics. Details provided by respondents are generally
of very high quality since the questions related to subjects with which they are familiar, thus the past and future performance of
their business is highly reliable. Similarly, consumers provide a very high quality information on their purchasing information and
price trend. Retail trade confidence indicator : the present business situation the future business situation the assessment of stocks
(with inverted sign).

102

DETAILED TABLES

3.2.8

Retail trade conﬁ dence indicator (continued)
Seasonally adjusted data

2006

2007

Balance

06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07 07m08

-
-15.8
-
:
-6.7
-1.0
-18.7
14.6
21.3
20.9
6.5
27.7
3.1
-
-
-

-
-16.2
-
:
-4.8
1.8
-11.2
14.2
23.0
16.0
6.3
30.9
-4.8
-
-
-

-
-12.6
-
:
-3.0
3.3
-12.4
18.1
25.1
27.5
3.6
26.8
8.7
-
-
-

-
-13.0
-
:
-5.8
5.4
-17.4
15.6
25.2
21.7
11.1
28.4
0.6
-
-
-

-
-13.5
-
:
-8.4
2.0
-14.3
18.3
15.5
26.2
20.3
27.4
6.1
-
-
-

-
-17.7
-
:
-2.2
4.1
-13.1
18.0
25.5
21.7
20.8
24.8
9.1
-
-
-

-
-9.8
-
:
0.1
5.5
-11.8
19.9
26.3
19.6
20.7
28.6
13.4
-
-
-

-
-13.7
-
:
1.6
6.1
-14.8
17.5
25.9
22.1
24.4
32.7
17.5
-
-
-

-
-16.6
-
:
3.0
5.9
-12.7
15.1
25.3
17.3
21.2
29.5
9.1
-
-
-

-
-13.1
-
:
-2.0
6.9
-10.2
20.1
25.3
18.0
21.9
26.2
9.2
-
-
-

-
-13.6
-
:
1.5
6.5
-14.6
19.2
25.3
16.6
20.2
24.7
6.3
-
-
-

-
-15.1
-
:
2.0
7.3
-11.4
18.6
25.9
22.7
26.6
27.3
8.4
-
-
-

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

Source: DG ECFIN

Retail trade conﬁ dence indicator balance

EU-27

06m09

06m10

06m11

06m12

07m01 07m02

07m03

07m04

07m05 07m06

07m07

07m08

8

6

4

2

0

8

6

4

2

0

Business surveys provide a rapid means of compiling simple statistics with the results available before those of traditional statistical
methods, and provide also information on areas not covered by quantitative statistics. Details provided by respondents are generally
of very high quality since the questions relate to subjects with which they are familiar, thus the past and future performance of
their business is highly reliable. Similarly, consumers provide high quality information on their purchasing information and price
trend. Retail trade confidence indicator : the present business situation the future business situation the assessment of stocks (with
inverted sign).

103

Section 3.3

INCOME

EUROSTATISTICS

3.3.1

Gross domestic product at current market prices
Billions of Euro

Seasonally adjusted data (at current prices)

2004

2005

2006

2007

04Q03 04Q04 05Q01 05Q02 05Q03 05Q04 06Q01 06Q02 06Q03 06Q04 07Q01 07Q02

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

2,200.0

2,000.0

1,800.0

1,600.0

1,951.1 1,964.5 1,980.5 1,999.9 2,022.4 2,044.7 2,066.3 2,099.3 2,121.2 2,150.5 2,179.7 2,199.3
2,653.4 2,666.4 2,693.8 2,731.4 2,760.2 2,799.3 2,828.9 2,872.3 2,915.4 2,967.0 3,011.0 3,040.3
81.8
:
:
56.4
603.7
:
:
:
261.1
463.0
:
:
:
6.7

75.2
:
25.4
52.8
562.3
2.9
40.7
45.8
229.3
431.0
356.9
3.5
3.3
5.3

80.8
:
30.6
56.4
599.6
3.6
46.8
:
256.6
459.0
380.9
3.7
4.6
6.5

74.2
:
24.6
52.2
558.2
2.7
40.7
44.6
224.9
426.2
354.7
3.4
3.2
5.1

73.7
:
24.4
50.6
555.2
2.6
38.8
44.0
220.5
423.7
350.4
3.3
3.0
4.9

73.1
:
22.5
49.0
551.2
2.3
37.2
42.8
212.4
416.0
348.1
3.2
2.9
4.6

76.0
:
26.2
52.7
565.2
2.9
41.4
46.7
233.7
435.0
361.4
3.5
3.5
5.4

79.1
:
28.8
55.5
584.0
3.3
45.6
:
247.3
450.3
370.3
3.7
4.1
6.0

77.2
:
27.3
53.8
569.5
3.1
43.1
47.2
238.4
441.2
362.2
3.5
3.7
5.6

73.4
:
23.4
50.3
551.3
2.5
38.2
43.6
216.2
420.7
348.7
3.3
2.9
4.7

78.0
:
28.0
55.3
578.8
3.2
42.4
47.6
243.1
447.5
368.2
3.6
3.9
5.8

79.8
:
29.6
55.6
591.0
3.5
43.7
:
252.1
454.7
376.1
3.7
4.4
6.3

Gross domestic product at current market prices

EA-13

2,200.0

2,000.0

1,800.0

1,600.0

04Q03 04Q04 05Q01 05Q02

05Q03

05Q04 06Q01 06Q02

06Q03

06Q04 07Q01

07Q01 07Q02

Gross Domestic Product at current market prices

Gross domestic product (GDP) at market prices is the final result of the production activity of resident producer units (ESA
1995, 8.89). It is defined as the value of all goods and services produced less the value of any goods or services used in their
creation. Values are seasonally adjusted (SA).
Gross Domestic Product at market prices (ESA 1995, 8.89) can be defined in three ways:
1)  GDP is the sum of final uses of goods and services by resident institutional units, plus exports and minus imports of goods

and services (Demand side).

2)  GDP is the sum of gross value added of the various institutional sectors or the various industries plus taxes and less subsidies

on products (Production side).

3)  GDP is the sum of uses in the generation of income account for the total economy (i.e. compensation of employees, taxes on

production and exports less subsidies, gross operating surplus and mixed income of the total economy (Income side).

The European System of Accounts (ESA 95) provides a detailed explanation of the methodology used to construct the above
accounting identities.
GDP at current prices is GDP at prices of the current reporting period. It is also known as nominal GDP.

106

DETAILED TABLES

3.3.1

Gross domestic product at current market prices (continued)
Billions of Euro

Seasonally adjusted data (at current prices)

2004

2005

2006

2007

04Q03 04Q04 05Q01 05Q02 05Q03 05Q04 06Q01 06Q02 06Q03 06Q04 07Q01 07Q02

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

3,100.0

2,900.0

2,700.0

2,500.0

2,300.0

6.9
21.3
1.1
124.2
60.0
56.1
36.5
:
6.6
8.9
38.5
:
435.0
55.5

6.8
21.0
1.1
123.4
59.3
52.6
36.2
:
6.6
8.6
38.0
:
443.3
52.2

6.9
21.8
1.2
124.9
60.4
59.8
36.5
:
6.7
9.3
38.9
:
438.3
55.5

:
:
:
:
68.0
75.6
:
:
:
13.3
:
:
506.2
:
2,409.9 2,301.9 2,317.2 2,445.1 2,573.7 2,672.8 2,695.8 2,613.9 2,602.8 2,598.0 2,585.1 2,554.5
792.9

7.5
22.7
1.2
128.0
61.8
61.5
37.4
:
6.9
9.6
39.5
:
451.4
62.9

8.2
22.0
1.3
132.8
64.0
66.0
38.6
:
7.4
10.7
41.3
:
467.4
68.5

7.8
22.7
1.2
129.7
62.5
64.0
37.9
:
7.1
9.9
40.0
:
462.0
64.6

8.7
25.3
1.3
137.4
66.9
72.2
40.0
:
8.0
12.7
43.7
:
502.0
66.5

8.5
23.6
1.3
136.0
65.8
71.2
39.6
:
7.7
11.9
43.2
:
494.7
65.6

7.2
21.8
1.2
126.4
61.0
58.9
37.1
:
6.8
9.3
38.7
:
452.9
59.6

8.3
21.8
1.3
134.1
64.9
67.5
39.1
:
7.6
11.0
42.1
:
483.1
67.4

8.0
22.5
1.2
131.4
63.2
66.5
37.9
:
7.1
10.4
40.7
:
461.6
66.1

908.9

909.4

925.3

926.9

926.0

854.2

903.5

898.8

880.2

845.7

823.5

Gross domestic product at current market prices

EU-27

3,100.0

2,900.0

2,700.0

2,500.0

2,300.0

04Q03 04Q04 05Q01 05Q02

05Q03

05Q04 06Q01 06Q02

06Q03

06Q04 07Q01

07Q01 07Q02

Quarterly GDP gives information on the short-term evolution of economic activity in a country. It is computed by Member States
on the basis of methods harmonised by Eurostat. European aggregates are calculated by using temporal disaggregation techniques.
Data are presented in seasonally adjusted form. Seasonal adjustment is performed by Member States using differents methods and
options.
European aggregates seasonally adjusted are obtained by aggregating National seasonally adjusted data.

107

EUROSTATISTICS

3.3.2

Gross national income at current prices
Billions of Euro

Seasonally adjusted data (at current prices)

2004

2005

2006

2007

04Q03 04Q04 05Q01 05Q02 05Q03 05Q04 06Q01 06Q02 06Q03 06Q04 07Q01 07Q02

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

2,200.0

2,000.0

1,800.0

1,600.0

1,943.6 1,961.1 1,969.6 1,993.0 2,012.4 2,037.5 2,073.6 2,088.6 2,113.5 2,136.7 2,174.0
:
81.4
:
:
56.6
607.6
3.5
39.9
:
:
462.3
378.0
:
:
6.3

:
74.9
:
:
52.9
569.0
2.5
34.6
:
:
429.5
349.8
:
:
5.0

:
75.6
:
:
53.4
568.0
2.7
34.7
:
:
434.4
356.6
:
:
5.2

:
73.9
:
:
49.5
556.7
2.3
31.3
:
:
419.3
346.5
:
:
4.5

:
74.4
:
:
50.2
556.3
2.4
33.1
:
:
427.0
350.3
:
:
4.8

:
78.8
:
:
56.0
582.9
3.1
36.8
:
:
451.0
363.2
:
:
5.7

:
76.8
:
:
53.5
571.7
2.8
36.1
:
:
438.5
360.5
:
:
5.3

:
74.0
:
:
50.0
560.9
2.3
32.3
:
:
424.1
345.7
:
:
4.7

:
78.0
:
:
54.0
577.7
2.9
37.4
:
:
444.7
363.7
:
:
5.5

:
79.8
:
:
56.7
588.0
3.2
38.6
:
:
453.8
371.1
:
:
5.9

:
80.4
:
:
56.5
595.7
3.4
38.5
:
:
458.1
374.8
:
:
6.1

Gross national income at current prices

EA-13

04Q03

04Q04

05Q01

05Q02

05Q03

05Q04

06Q01

06Q02

06Q03

06Q04

07Q01

:
:
:
:
:
58.0
605.7
:
:
:
:
:
:
:
:
:

2,200.0

2,000.0

1,800.0

1,600.0

Gross National Income

Gross national income (at current prices) (ESA 1995, 8.94) represents total primary income receivable by resident institutional
units: compensation of employees, taxes on production and imports less subsidies, property income (receivable less payable),
gross operating surplus and gross mixed income. It is equal to: GDP (Gross Domestic Product) + primary incomes receivable
from the rest of the world - primary incomes payable to the rest of the world. Values are seasonally adjusted (SA). The ESA 95
(European System of Accounts) regulation may be referred to for more specific explanations on methodology.

108

DETAILED TABLES

3.3.2

Gross national income at current prices (continued)
Billions of Euro

Seasonally adjusted data (at current prices)

2004

2005

2006

2007

04Q03 04Q04 05Q01 05Q02 05Q03 05Q04 06Q01 06Q02 06Q03 06Q04 07Q01 07Q02

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

:
:
:
:
58.5
:
35.4
:
6.5
8.7
38.2
:

:
:
:
:
59.6
:
35.6
:
6.6
9.2
39.2
:

:
:
:
:
60.3
:
36.2
:
6.8
9.1
38.6
:

:
:
:
:
59.1
:
36.0
:
6.5
9.0
38.9
:

:
:
:
:
61.1
:
36.4
:
6.9
9.3
39.9
:

:
:
:
:
65.7
:
38.4
:
7.8
12.8
44.2
:
450.2 448.2 447.8 465.9 460.1 467.0 469.5 478.6 487.9 496.1 506.6
:
:
:

:
:
:
:
62.7
:
36.6
:
7.0
10.3
40.8
:

:
:
:
:
64.5
:
37.3
:
7.5
10.6
42.3
:

:
:
:
:
65.1
:
37.9
:
7.6
11.5
43.2
:

:
:
:
:
61.9
:
36.7
:
7.0
9.6
40.1
:

:
:
:
:
63.6
:
37.3
:
7.4
10.4
41.8
:

:
:
:

:
:
:

:
:
:

:
:
:

:
:
:

:
:
:

:
:
:

:
:
:

:
:
:

:
:
:

:
:
:
:
:
:
:
:
:
13.2
:
:
:
:
:
:

109

EUROSTATISTICS

3.3.3

Gross disposable income at current prices
Billions of Euro

Seasonally adjusted data (at current prices)

2004

2005

2006

2007

04Q03 04Q04 05Q01 05Q02 05Q03 05Q04 06Q01 06Q02 06Q03 06Q04 07Q01 07Q02

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

2,200.0

2,000.0

1,800.0

1,600.0

1,400.0

1,922.9 1,941.3 1,942.1 1,971.5 1,990.6 2,017.1 2,047.5 2,069.8 2,090.1 2,113.2 2,150.8
:
80.3
:
:
55.5
600.1
3.5
39.5
:
:
455.4
375.3
:
:
6.5

:
73.9
:
:
51.9
562.5
2.5
34.9
:
:
422.8
347.6
:
:
5.1

:
74.6
:
:
52.3
561.3
2.7
34.7
:
:
427.6
354.2
:
:
5.3

:
73.4
:
:
49.1
547.7
2.4
33.1
:
:
420.5
347.0
:
:
4.9

:
72.9
:
:
48.3
549.6
2.2
31.5
:
:
413.1
344.3
:
:
4.6

:
77.8
:
:
55.0
577.4
3.1
36.5
:
:
444.4
361.1
:
:
5.8

:
75.8
:
:
52.5
565.5
2.8
36.1
:
:
431.7
358.5
:
:
5.5

:
73.0
:
:
49.0
554.6
2.3
32.2
:
:
417.8
343.8
:
:
4.7

:
76.9
:
:
52.9
570.5
2.9
37.2
:
:
438.0
359.3
:
:
5.7

:
78.7
:
:
55.7
580.9
3.2
38.5
:
:
447.2
367.3
:
:
6.0

:
79.3
:
:
55.4
588.5
3.3
38.5
:
:
451.4
371.8
:
:
6.3

Gross disposable income at current prices

EA-13

04Q03

04Q04

05Q01

05Q02

05Q03

05Q04

06Q01

06Q02

06Q03

06Q04

07Q01

:
:
:
:
:
57.0
600.7
:
:
:
:
:
:
:
:
:

2,200.0

2,000.0

1,800.0

1,600.0

1,400.0

Gross Disposable Income

Gross national disposable income (ESA 1995, 8.95) is the sum of the gross disposable incomes of the institutional sectors. It is
equal to: Gross national income + current transfers receivable from the rest of the world - current transfers payable to the rest
of the world. Values are seasonally adjusted (SA). The ESA 95 (European System of Accounts) regulation may be referred to for
more specific explanations on methodology.

110

DETAILED TABLES

3.3.3

Gross disposable income at current prices (continued)
Billions of Euro

Seasonally adjusted data (at current prices)

2004

2005

2006

2007

04Q03 04Q04 05Q01 05Q02 05Q03 05Q04 06Q01 06Q02 06Q03 06Q04 07Q01 07Q02

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

:
:
:
:
58.1
:
35.9
:
6.4
8.7
37.8
:

:
:
:
:
59.5
:
37.3
:
6.7
9.0
38.2
:

:
:
:
:
59.0
:
35.9
:
6.6
9.2
38.5
:

:
:
:
:
60.0
:
36.9
:
6.9
9.3
39.5
:

:
:
:
:
58.5
:
36.4
:
6.5
9.0
38.5
:

:
:
:
:
65.1
:
38.8
:
7.8
12.8
44.1
:
446.5 444.3 443.0 462.9 455.4 463.3 465.2 475.0 484.9 491.2 502.2
:
:
:

:
:
:
:
64.6
:
38.6
:
7.6
11.4
42.5
:

:
:
:
:
64.0
:
37.9
:
7.4
10.5
41.9
:

:
:
:
:
61.0
:
37.0
:
7.0
10.3
40.6
:

:
:
:
:
63.5
:
38.5
:
7.3
10.5
41.5
:

:
:
:
:
60.5
:
37.3
:
7.0
9.6
39.8
:

:
:
:

:
:
:

:
:
:

:
:
:

:
:
:

:
:
:

:
:
:

:
:
:

:
:
:

:
:
:

:
:
:
:
:
:
:
:
:
13.1
:
:
:
:
:
:

111

EUROSTATISTICS

3.3.4

Gross saving at current prices
Billions of Euro

Seasonally adjusted data (at current prices)

2004

2005

2006

2007

04Q03 04Q04 05Q01 05Q02 05Q03 05Q04 06Q01 06Q02 06Q03 06Q04 07Q01 07Q02

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

200.0

150.0

100.0

50.0

0.0

131.5 130.5 117.4 128.9 125.9 133.9 144.4 148.9 151.7 162.5 183.2
:
7.7
:
:
4.4
64.8
0.4
7.0
:
:
28.3
17.2
:
:
0.2

:
6.7
:
:
4.3
42.7
0.4
6.9
:
:
23.8
13.4
:
:
0.3

:
5.8
:
:
4.7
37.2
0.4
5.3
:
:
23.3
14.7
:
:
0.4

:
6.4
:
:
2.8
38.8
0.2
4.5
:
:
24.7
14.1
:
:
0.3

:
5.7
:
:
5.0
41.0
0.3
6.2
:
:
23.4
12.0
:
:
0.3

:
7.4
:
:
4.9
53.0
0.6
5.8
:
:
27.7
17.7
:
:
0.3

:
7.0
:
:
6.0
50.1
0.5
6.9
:
:
25.0
13.4
:
:
0.2

:
6.6
:
:
3.2
36.3
0.2
4.8
:
:
25.0
18.4
:
:
0.1

:
6.8
:
:
5.4
48.6
0.5
5.6
:
:
25.7
8.8
:
:
0.4

:
6.4
:
:
4.4
42.5
0.5
7.1
:
:
23.3
12.8
:
:
0.4

:
6.1
:
:
3.1
32.8
0.3
5.0
:
:
23.8
15.3
:
:
0.2

Gross saving at current prices

EA-13

04Q03

04Q04

05Q01

05Q02

05Q03

05Q04

06Q01

06Q02

06Q03

06Q04

07Q01

:
:
:
:
:
5.6
62.9
:
:
:
:
:
:
:
:
:

200.0

150.0

100.0

50.0

0.0

Gross saving

Gross saving (ESA 1995, 8.96) measures the portion of gross national disposable income that is not used for final consumption
expenditure.  Net  saving  measures  the  portion  of  gross  national  disposable  income  that  is  not  used  for  final  consumption
expenditure or the consuption of fixed capital. Values are seasonally adjusted (SA). The ESA 95 (European System of Accounts)
regulation may be referred to for more specific explanations on methodology.

112

DETAILED TABLES

3.3.4

Gross saving at current prices (continued)
Billions of Euro

Seasonally adjusted data (at current prices)

2004

2005

2006

2007

04Q03 04Q04 05Q01 05Q02 05Q03 05Q04 06Q01 06Q02 06Q03 06Q04 07Q01 07Q02

:
:
:
:
5.3
:
-0.9
:
0.5
0.4
4.3
:
18.8
:
:
:

:
:
:
:
5.5
:
-0.7
:
0.5
0.4
4.2
:
27.1
:
:
:

:
:
:
:
5.5
:
-1.6
:
0.5
0.3
4.2
:
21.5
:
:
:

:
:
:
:
5.7
:
-0.8
:
0.6
0.1
3.2
:
26.6
:
:
:

:
:
:
:
6.0
:
-1.4
:
0.6
0.1
4.3
:
16.0
:
:
:

:
:
:
:
6.4
:
-1.4
:
0.6
0.2
4.5
:
16.6
:
:
:

:
:
:
:
6.9
:
-2.1
:
0.7
0.2
4.5
:
18.5
:
:
:

:
:
:
:
7.3
:
-1.1
:
0.7
0.2
4.6
:
25.0
:
:
:

:
:
:
:
7.6
:
-2.0
:
0.8
0.1
4.9
:
22.7
:
:
:

:
:
:
:
7.8
:
-1.5
:
0.9
0.2
5.3
:
18.1
:
:
:

:
:
:
:
7.9
:
-1.7
:
1.0
0.8
5.7
:
23.6
:
:
:

:
:
:
:
:
:
:
:
:
0.7
:
:
:
:
:
:

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

113

EUROSTATISTICS

3.3.5

Gross saving as a percentage of gross disposable income, at current prices

Seasonally adjusted data (at current prices)

2004

2005

2006

2007

04Q03 04Q04 05Q01 05Q02 05Q03 05Q04 06Q01 06Q02 06Q03 06Q04 07Q01 07Q02

6.8
:
9.1
:
:
6.7
6.6
10.9
15.2
:
:
6.1
5.3
:
:
2.8

6.7
:
8.8
:
:
5.7
7.0
7.8
14.1
:
:
5.9
4.1
:
:
6.3

6.0
:
8.3
:
:
6.3
6.0
12.9
15.1
:
:
5.7
4.4
:
:
4.7

6.5
:
7.7
:
:
9.6
7.3
12.6
17.7
:
:
5.5
3.5
:
:
5.6

6.3
:
7.8
:
:
9.0
6.6
15.1
15.2
:
:
5.4
4.1
:
:
7.5

6.6
:
8.5
:
:
8.4
7.5
17.3
19.8
:
:
5.4
3.6
:
:
6.6

7.1
:
8.7
:
:
8.1
7.5
14.5
18.4
:
:
5.4
3.7
:
:
5.0

7.2
:
8.7
:
:
9.7
8.4
15.6
15.2
:
:
5.8
2.4
:
:
6.3

7.3
:
8.9
:
:
10.8
8.6
15.0
17.9
:
:
5.6
3.6
:
:
3.1

7.7
:
9.4
:
:
8.8
9.0
16.6
15.1
:
:
6.1
4.8
:
:
4.3

8.5
:
9.5
:
:
7.9
10.8
11.8
17.8
:
:
6.2
4.6
:
:
3.5

:
:
:
:
:
9.9
10.5
:
:
:
:
:
:
:
:
:

Gross saving as a percentage of gross disposable income, at current prices

EA-13

10.0

8.0

6.0

4.0

2.0

0.0

04Q03

04Q04

05Q01

05Q02

05Q03

05Q04

06Q01

06Q02

06Q03

06Q04

07Q01

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

10.0

8.0

6.0

4.0

2.0

0.0

Gross saving as a percentage of gross disposable income

Gross saving (ESA 1995, 8.96) measures the portion of gross national disposable income that is not used for final consumption
expenditure.  Net  saving  measures  the  portion  of  gross  national  disposable  income  that  is  not  used  for  final  consumption
expenditure or the consuption of fixed capital. Values are seasonally adjusted (SA). The ESA 95 (European System of Accounts)
regulation may be referred to for more specific explanations on methodology.

114

DETAILED TABLES

3.3.5

Gross saving as a percentage of gross disposable income, at current prices 
(continued)

Seasonally adjusted data (at current prices)

2004

2005

2006

2007

04Q03 04Q04 05Q01 05Q02 05Q03 05Q04 06Q01 06Q02 06Q03 06Q04 07Q01 07Q02

:
:
:
:
9.2
:
-2.4
:
8.1
4.3
11.3
:
4.2
:
:
:

:
:
:
:
9.3
:
-2.0
:
7.7
5.0
10.9
:
6.1
:
:
:

:
:
:
:
9.4
:
-4.4
:
7.8
3.5
11.0
:
4.9
:
:
:

:
:
:
:
9.6
:
-2.2
:
8.7
1.1
8.4
:
5.7
:
:
:

:
:
:
:
9.9
:
-3.7
:
9.1
1.1
11.0
:
3.5
:
:
:

:
:
:
:
10.6
:
-3.7
:
9.1
2.0
11.2
:
3.6
:
:
:

:
:
:
:
11.3
:
-5.7
:
9.4
2.4
11.0
:
4.0
:
:
:

:
:
:
:
11.5
:
-2.9
:
10.0
2.2
11.0
:
5.3
:
:
:

:
:
:
:
11.8
:
-5.4
:
10.9
1.0
11.7
:
4.7
:
:
:

:
:
:
:
12.0
:
-4.0
:
11.9
1.7
12.4
:
3.7
:
:
:

:
:
:
:
12.2
:
-4.4
:
12.6
6.6
12.9
:
4.7
:
:
:

:
:
:
:
:
:
:
:
:
5.2
:
:
:
:
:
:

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

115

EUROSTATISTICS

3.3.6

Compensation of employees
Billions of Euro

Seasonally adjusted data (at current prices)

2004

2005

2006

2007

04Q03 04Q04 05Q01 05Q02 05Q03 05Q04 06Q01 06Q02 06Q03 06Q04 07Q01 07Q02

942.4

948.9

968.0

955.8

961.5

988.5 1,000.6 1,006.7 1,013.1 1,028.9
979.9
1,304.8 1,309.2 1,322.4 1,341.4 1,352.8 1,372.6 1,385.6 1,400.2 1,414.7 1,429.9 1,451.6
40.8
:
:
30.3
293.1
1.7
19.4
:
118.9
239.6
153.5
1.7
2.1
2.7

38.1
:
:
27.5
282.1
1.3
16.8
:
107.7
225.0
144.6
1.6
1.4
2.1

37.8
:
:
27.4
283.0
1.2
16.5
:
106.2
222.8
143.6
1.5
1.3
2.0

37.4
:
:
27.0
283.2
1.2
16.0
:
103.9
221.3
142.2
1.5
1.3
2.0

36.7
:
:
26.7
284.2
1.1
15.2
:
101.2
217.5
138.8
1.4
1.1
1.9

39.0
:
:
28.3
284.6
1.4
17.6
:
111.3
229.8
149.9
1.6
1.6
2.3

37.0
:
:
26.9
283.9
1.1
15.6
:
102.4
219.2
140.8
1.5
1.1
1.9

39.7
:
:
29.0
288.7
1.5
18.5
:
114.5
233.4
152.4
1.6
1.8
2.5

38.4
:
:
27.8
282.7
1.3
17.3
:
109.5
227.2
150.7
1.6
1.5
2.2

39.4
:
:
28.8
287.2
1.4
18.0
:
113.0
231.5
153.7
1.6
1.7
2.4

40.0
:
:
29.7
289.5
1.6
19.0
:
117.2
236.0
151.7
1.7
1.9
2.6

Compensation of employees

EA-13

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

1,100

1,000

900

800

700

:
:
:
:
:
30.6
295.2
:
:
:
120.9
:
:
:
:
2.8

1,100

1,000

900

800

700

04Q03

04Q04

05Q01

05Q02

05Q03

05Q04

06Q01

06Q02

06Q03

06Q04

07Q01

Compensation of employees

Compensation  of  employees  (at  current  prices)  (ESA  1995,  4.02)  is  defined  as  the  total  remuneration,  in  cash  or  in  kind,
payable by an employer to an employee in return for work done by the latter during the accounting period. Compensation of
employees consists of wages and salaries, and of employers’ social contributions. Values are seasonally adjusted (SA). The ESA
95 (European System of Accounts) regulation may be referred to for more specific explanations on methodology.

116

DETAILED TABLES

3.3.6

Compensation of employees (continued)
Billions of Euro

Seasonally adjusted data (at current prices)

2004

2005

2006

2007

04Q03 04Q04 05Q01 05Q02 05Q03 05Q04 06Q01 06Q02 06Q03 06Q04 07Q01 07Q02

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

1,500

1,300

1,100

900

700

3.4
:
0.5
62.9
29.5
:
:
:
:
3.5
18.9
:

3.5
:
0.5
63.0
29.7
:
:
:
:
3.5
19.1
:

3.3
:
0.5
62.8
29.1
:
:
:
:
3.2
18.4
:

3.5
:
0.5
63.4
30.0
:
:
:
:
3.6
19.4
:

3.4
:
0.5
63.1
29.3
:
:
:
:
3.3
18.6
:

4.0
:
0.6
:
32.0
:
:
:
:
4.6
21.0
:
242.0 238.7 241.8 251.0 253.4 258.2 259.8 260.1 266.2 272.1 275.4
:
:
:

3.9
:
0.6
66.9
31.7
:
:
:
:
4.3
20.6
:

3.7
:
0.5
65.0
30.6
:
:
:
:
3.9
19.8
:

3.8
:
0.5
65.8
31.3
:
:
:
:
4.0
20.3
:

3.6
:
0.5
64.1
30.3
:
:
:
:
3.7
19.6
:

3.8
:
0.5
65.5
31.0
:
:
:
:
3.9
20.0
:

:
:
:

:
:
:

:
:
:

:
:
:

:
:
:

:
:
:

:
:
:

:
:
:

:
:
:

:
:
:

Compensation of employees

EU-27

04Q03

04Q04

05Q01

05Q02

05Q03

05Q04

06Q01

06Q02

06Q03

06Q04

07Q01

:
:
:
:
:
:
:
:
:
4.8
:
:
:
:
:
:

1,500

1,300

1,100

900

700

117

EUROSTATISTICS

3.3.7

Compensation of employees by branch
Billions of Euro

Seasonally adjusted data (at current prices)

Agriculture

Industry

Construction

Trade, transport
& communic.

Financial serv. &
business activ.

Public
administration

2007

2007

2007

2007

2007

2007

07Q01 07Q02 07Q01 07Q02 07Q01 07Q02 07Q01 07Q02 07Q01 07Q02 07Q01 07Q02

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

400

300

200

100

0

10.1
14.2
0.1
:
:
0.3
2.1
0.0
0.1
:
1.4
2.2
2.3
0.0
0.1
0.1

: 224.4
: 301.8
8.1
:
:
:
:
:
4.9
0.3
87.1
2.1
0.4
:
2.7
:
:
:
21.5
1.4
37.1
:
38.0
:
0.2
:
0.4
:
0.6
0.1

:
:
:
:
:
4.9
88.6
:
:
:
21.5
:
:
:
:
0.7

67.5
90.8
2.1
:
:
2.2
13.4
0.2
2.8
:
15.9
14.5
8.3
0.1
0.2
0.3

: 213.6
: 310.4
9.1
:
:
:
:
:
6.8
2.2
57.7
13.3
0.5
:
3.7
:
:
:
25.3
16.3
50.1
:
31.7
:
0.5
:
0.6
:
0.7
0.3

: 187.5
: 275.0
7.2
:
:
:
:
:
7.0
5.3
49.1
58.1
0.3
:
3.2
:
:
:
18.0
25.6
57.3
:
22.5
:
0.2
:
0.3
:
0.2
0.8

: 325.9
: 459.4
14.2
:
:
:
:
:
10.8
5.3
83.8
49.6
0.4
:
6.8
:
:
:
36.8
18.3
78.3
:
50.8
:
0.7
:
0.6
:
0.7
0.2

Compensation of employees by branch, 2007Q01

EA-13

:
:
:
:
:
10.9
83.5
:
:
:
37.7
:
:
:
:
0.7

400

300

200

100

0

Agriculture

Industry

Construction

Trade,
transport &
commun.

Financial serv.
& business
activity

Public
administration

Compensation of employees

Compensation  of  employees  (at  current  prices)  (ESA  1995,  4.02)  is  defined  as  the  total  remuneration,  in  cash  or  in  kind,
payable by an employer to an employee in return for work done by the latter during the accounting period. Compensation of
employees consists of wages and salaries, and of employers’ social contributions. Values are seasonally adjusted (SA). The ESA
95 (European System of Accounts) regulation may be referred to for more specific explanations on methodology.

118

DETAILED TABLES

3.3.7

Compensation of employees by branch (continued)
Billions of Euro

Seasonally adjusted data (at current prices)

Agriculture

Industry

Construction

Trade, transport
& communic.

Financial serv. &
business activ.

Public
administration

2007

2007

2007

2007

2007

2007

07Q01 07Q02 07Q01 07Q02 07Q01 07Q02 07Q01 07Q02 07Q01 07Q02 07Q01 07Q02

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

500

400

300

200

100

0

0.0
:
0.0
:
0.1
:
:
:
:
0.1
0.2
:
1.5
:
:
-

:
:
:
:
:
:
:
:
:
0.1
:
:
:
:
:
-

0.5
:
0.1
:
7.1
:
:
:
:
1.4
4.9
:
43.4
:
:
-

:
:
:
:
:
:
:
:
:
1.4
:
:
:
:
:
-

0.3
:
0.0
:
2.3
:
:
:
:
0.2
1.5
:
13.8
:
:
-

:
:
:
:
:
:
:
:
:
0.2
:
:
:
:
:
-

0.8
:
0.1
:
7.8
:
:
:
:
1.1
4.2
:
64.9
:
:
-

:
:
:
:
:
:
:
:
:
1.2
:
:
:
:
:
-

1.5
:
0.1
:
4.7
:
:
:
:
0.6
3.2
:
65.7
:
:
-

:
:
:
:
:
:
:
:
:
0.6
:
:
:
:
:
-

1.0
:
0.2
:
10.1
:
:
:
:
1.2
6.9
:
86.1
:
:
-

Compensation of employees by branch, 2007Q01

EU-27

Agriculture

Industry

Construction

Trade,
transport &
commun.

Financial serv.
& business
activity

Public
administration

:
:
:
:
:
:
:
:
:
1.2
:
:
:
:
:
-

500

400

300

200

100

0

119

EUROSTATISTICS

3.3.8

Gross operating surplus and mixed income
Billions of Euro

Seasonally adjusted data (at current prices)

2004

2005

2006

2007

04Q03 04Q04 05Q01 05Q02 05Q03 05Q04 06Q01 06Q02 06Q03 06Q04 07Q01 07Q02

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

900

850

800

750

700

650

600

868.1

833.5

777.5

808.3

854.8

776.3

823.1

788.5

797.0

881.9
812.4
1,027.0 1,026.1 1,043.4 1,055.5 1,065.8 1,079.1 1,093.1 1,107.9 1,140.7 1,163.1 1,183.4
30.5
:
:
17.6
238.5
1.4
:
:
108.5
156.9
175.1
1.4
1.9
3.0

28.3
:
:
17.4
221.0
1.2
:
:
96.3
146.7
164.3
1.3
1.6
2.7

27.7
:
:
16.9
222.7
1.2
:
:
93.8
144.5
164.1
1.3
1.5
2.5

27.4
:
:
16.1
210.9
1.1
:
:
92.7
144.1
163.5
1.3
1.4
2.4

27.5
:
:
15.0
212.1
1.0
:
:
87.9
142.1
164.2
1.4
1.4
2.3

28.5
:
:
16.8
220.7
1.2
:
:
99.1
148.2
162.5
1.3
1.6
2.7

30.2
:
:
18.1
230.0
1.4
:
:
106.4
155.6
167.5
1.4
1.9
2.9

27.6
:
:
16.0
209.7
1.0
:
:
91.0
143.9
161.2
1.3
1.4
2.4

29.1
:
:
17.3
226.9
1.3
:
:
100.3
151.1
161.8
1.4
1.8
2.8

29.7
:
:
18.1
226.3
1.4
:
:
102.9
154.9
163.6
1.4
1.8
2.9

29.9
:
:
17.3
235.4
1.4
:
:
106.0
157.1
172.6
1.4
1.9
3.0

Gross operating surplus and mixed income

EA-13

:
:
:
:
:
17.2
235.5
:
:
:
111.2
:
:
:
:
3.2

900

850

800

750

700

650

600

04Q03

04Q04

05Q01

05Q02

05Q03

05Q04

06Q01

06Q02

06Q03

06Q04

07Q01

Gross operating surplus and mixed income

The Gross Operating Surplus and Mixed Income is the surplus (or deficit) on production activities before account has been
taken of the interest, costs or charges paid or received for the use of assets.

120

DETAILED TABLES

3.3.8

Gross operating surplus and mixed income (continued)
Billions of Euro

Seasonally adjusted data (at current prices)

2004

2005

2006

2007

04Q03 04Q04 05Q01 05Q02 05Q03 05Q04 06Q01 06Q02 06Q03 06Q04 07Q01 07Q02

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

1,200

1,100

1,000

900

800

700

600

2.8
:
:
50.1
24.4
:
:
:
:
4.8
15.1
:

2.7
:
:
46.6
23.6
:
:
:
:
4.5
15.1
:

2.7
:
:
47.2
24.1
:
:
:
:
4.8
15.1
:

3.1
:
:
49.3
24.8
:
:
:
:
5.0
15.2
:

2.7
:
:
47.5
23.8
:
:
:
:
4.7
15.2
:

:
:
:
:
28.1
:
:
:
:
7.3
:
:
145.6 142.1 143.2 146.5 141.9 148.2 146.5 149.3 157.4 162.0 165.8 170.8
:
:
:

3.7
:
:
52.3
27.1
:
:
:
:
6.5
17.2
:

3.4
:
:
51.3
25.6
:
:
:
:
5.5
15.9
:

3.6
:
:
52.8
26.6
:
:
:
:
5.9
16.7
:

3.7
:
:
:
27.6
:
:
:
:
7.0
17.5
:

3.5
:
:
51.7
26.1
:
:
:
:
5.8
16.3
:

3.3
:
:
50.4
25.2
:
:
:
:
5.2
15.3
:

:
:
:

:
:
:

:
:
:

:
:
:

:
:
:

:
:
:

:
:
:

:
:
:

:
:
:

:
:
:

:
:
:

Gross operating surplus and mixed income

EU-27

1,200

1,100

1,000

900

800

700

600

04Q03

04Q04

05Q01

05Q02

05Q03

05Q04

06Q01

06Q02

06Q03

06Q04

07Q01

The Gross Operating Surplus and Mixed Income is the surplus (or deficit) on production activities before account has been
taken of the interest, costs or charges paid or received for the use of assets.

121

Section 3.4

LABOUR MARKET

EUROSTATISTICS

3.4.1

Harmonized unemployment by gender and age
Thousands

Seasonally adjusted data

Total

2007

Males

2007

Females

Under 25 years

Over 25 years

2007

2007

2007

m07

10,362.4
15,993.1
357.3
236.4
286.9
92.2
2,616.5
37.2
105.3
:
1,781.9
2,373.8
:
15.6
66.7
75.4

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

m08

:
:
355.1
:
:
:
:
:
:
:
:
:
:
15.4
:
:

m07

4,872.7
7,861.8
177.8
115.9
124.7
43.0
1,231.3
21.2
63.5
:
797.3
1,170.4
:
6.9
35.9
38.1

m08

:
:
176.6
:
:
:
:
:
:
:
:
:
:
6.8
:
:

m07

5,489.8
8,131.3
179.4
120.5
162.3
49.2
1,385.2
16.1
41.8
:
984.7
1,203.4
:
8.8
30.9
37.2

m08

:
:
178.5
:
:
:
:
:
:
:
:
:
:
8.6
:
:

m07

m08

m07

2,611.1
4,244.7
77.3
37.9
51.2
27.8
650.6
:
35.5
:
447.3
616.4
:
:
:
:

:
7,751.3
: 11,748.5
280.0
198.5
235.7
64.4
1,965.9
29.6
69.8
:
1,334.6
1,757.4
:
12.3
51.2
60.9

76.0
:
:
:
:
:
:
:
:
:
:
:
:
:

m08

:
:
279.1
:
:
:
:
:
:
:
:
:
:
12.2
:
:

Harmonized unemployment, 2007 m07

EA-13

15,000

10,000

5,000

0

Total

Males

Females

Under 25

Over 25

15,000

10,000

5,000

0

Unemployed persons comprise of persons aged 15 to 74 who were: a. without work during the reference week, b. currently
available for work, i.e. were available for paid employment or self-employment before the end of the two weeks following the
reference week; c. actively seeking work, i.e. had taken specific steps in the four weeks period ending with the reference week to
seek paid employment or self-employment or who found a job to start later, i.e. within a period of at most three months.

124

3.4.1

Harmonized unemployment by gender and age (continued)
Thousands

DETAILED TABLES

Seasonally adjusted data

Total

2007

Males

2007

Females

Under 25 years

Over 25 years

2007

2007

2007

m07

m08

m07

m08

m07

m08

m07

m08

m07

m08

10.0
328.2
10.4
297.1
181.4
1,653.6
460.3
699.2
52.4
281.6
181.9
244.4
:
:
7,175.0
2,360.0

4.0
:
173.7
331.8
6.3
:
137.5
:
88.5
181.1
801.2
:
192.0
:
442.3
:
23.3
:
142.5
:
87.8
:
128.0
:
:
:
:
:
: 3,889.0
: 1,450.0

6.0
:
154.5
175.7
4.1
:
159.7
:
92.9
88.5
852.4
:
268.3
:
256.9
:
29.1
:
139.2
:
94.1
:
116.4
:
:
:
:
:
: 3,286.0
910.0
:

2.2
:
63.6
156.0
4.2
:
103.7
:
49.4
92.6
383.5
:
89.0
:
192.3
:
:
:
57.3
:
54.8
:
92.7
:
:
:
:
:
: 2,356.0
:
:

:
64.5
:
:
49.5

7.7
264.7
6.2
193.4
132.0
: 1,270.1
371.2
:
506.9
:
42.3
:
224.4
:
127.2
:
151.7
:
:
:
:
:
: 4,819.0
:
:

:
267.3
:
:
131.6
:
:
:
:
:
:
:
:
:
:
:

Harmonized unemployment, 2007 m07

EU-27

20,000

15,000

10,000

5,000

0

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

20,000

15,000

10,000

5,000

0

Total

Males

Females

Under 25

Over 25

Unemployed persons comprise of persons aged 15 to 74 who were: a. without work during the reference week, b. currently
available for work, i.e. were available for paid employment or self-employment before the end of the two weeks following the
reference week; c. actively seeking work, i.e. had taken specific steps in the four weeks period ending with the reference week to
seek paid employment or self-employment or who found a job to start later, i.e. within a period of at most three months.

125

EUROSTATISTICS

3.4.2

Harmonized unemployment by gender and age
Thousands

Seasonally adjusted data

Total

2007

Males less than
25 years old

Males 25 years
old and over

Females less than
25 years old

Females 25 years
old and over

2007

2007

2007

2007

m07

10,362.4
15,993.1
357.3
236.4
286.9
92.2
2,616.5
37.2
105.3
:
1,781.9
2,373.8
:
15.6
66.7
75.4

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

m08

:
:
355.1
:
:
:
:
:
:
:
:
:
:
15.4
:
:

m07

m08

m07

1,301.2
2,201.2
:
19.4
27.9
:
327.8
:
21.7
:
210.7
321.7
:
:
:
:

:
:
:
:
:
:
:
:
:
:
:
:
:
:
:
:

3,571.4
5,660.6
138.1
96.5
96.8
26.9
903.5
17.0
41.8
:
586.6
848.7
:
5.4
27.7
31.0

m08

:
:
137.4
:
:
:
:
:
:
:
:
:
:
5.4
:
:

m07

m08

m07

1,309.9
2,043.5
:
18.5
23.3
:
322.7
:
13.8
:
236.6
294.7
:
:
:
:

:
:
:
:
:
:
:
:
:
:
:
:
:
:
:
:

4,179.9
6,087.8
141.8
102.0
138.9
37.5
1,062.4
12.7
28.0
:
748.1
908.7
:
6.9
23.5
30.0

Harmonized unemployment, 2007 m07

EA-13

15,000

10,000

5,000

0

Total

Males < 25

Males (cid:42) 25

Females < 25

Females (cid:42) 25

m08

:
:
141.7
:
:
:
:
:
:
:
:
:
:
6.8
:
:

15,000

10,000

5,000

0

Unemployed persons comprise of persons aged 15 to 74 who were: a. without work during the reference week, b. currently
available for work, i.e. were available for paid employment or self-employment before the end of the two weeks following the
reference week; c. actively seeking work, i.e. had taken specific steps in the four weeks period ending with the reference week to
seek paid employment or self-employment or who found a job to start later, i.e. within a period of at most three months.

126

DETAILED TABLES

3.4.2

Harmonized unemployment by gender and age (continued)
Thousands

Seasonally adjusted data

Total

2007

Males less than
25 years old

Males 25 years
old and over

Females less than
25 years old

Females 25 years
old and over

2007

2007

2007

2007

m07

m08

m07

m08

m07

m08

m07

m08

m07

m08

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

10.0
328.2
10.4
297.1
181.4
1,653.6
460.3
699.2
52.4
281.6
181.9
244.4
:
:
7,175.0
2,360.0

1.2
:
35.7
331.8
2.5
:
46.6
:
25.9
181.1
186.0
:
35.7
:
116.1
:
:
:
32.5
:
26.5
:
47.1
:
:
:
:
:
: 1,334.0
:
:

2.8
:
138.0
36.4
3.8
:
90.8
:
62.6
26.0
615.1
:
156.2
:
326.2
:
18.2
:
110.0
:
61.3
:
80.9
:
:
:
:
:
: 2,555.0
:
:

1.0
:
27.8
139.4
1.7
:
57.1
:
23.6
62.5
197.5
:
53.3
:
76.2
:
:
:
24.7
:
28.3
:
45.5
:
:
:
:
:
: 1,022.0
:
:

5.0
:
126.7
28.1
2.4
:
102.6
:
69.3
23.5
655.0
:
215.0
:
180.7
:
24.1
:
114.4
:
65.8
:
70.9
:
:
:
:
:
: 2,264.0
:
:

Harmonized unemployment, 2007 m07

EU-27

20,000

15,000

10,000

5,000

0

Total

Males < 25

Males (cid:42) 25

Females < 25

Females (cid:42) 25

:
127.9
:
:
69.1
:
:
:
:
:
:
:
:
:
:
:

20,000

15,000

10,000

5,000

0

Unemployed persons comprise of persons aged 15 to 74 who were: a. without work during the reference week, b. currently
available for work, i.e. were available for paid employment or self-employment before the end of the two weeks following the
reference week; c. actively seeking work, i.e. had taken specific steps in the four weeks period ending with the reference week to
seek paid employment or self-employment or who found a job to start later, i.e. within a period of at most three months.

127

EUROSTATISTICS

3.4.3

Harmonized unemployment rate
As a percentage (%)

Seasonally adjusted data

Total

2007

Males

2007

Females

Under 25 years

Over 25 years

2007

2007

2007

EA-13

EU-27

BE

BG

CZ

DK

DE
EE
IE

EL

ES

FR

IT

CY

LV

LT

20

15

10

5

0

m07

m08

m07

m08

6.9
6.8
7.5
6.6
5.5
3.2
6.4
5.4
4.7
:
8.0
8.5
:
4.1
5.6
4.7

:
:
7.4
:
:
:
:
:
:
:
:
:
:
4.0
:
:

5.8
6.1
6.7
6.2
4.3
2.8
5.4
6.0
5.0
:
6.2
7.9
:
3.2
5.9
4.7

:
:
6.6
:
:
:
:
:
:
:
:
:
:
3.2
:
:

m07

8.3
7.8
8.5
7.2
7.1
3.6
7.6
4.7
4.4
:
10.5
9.2
:
5.1
5.3
4.7

m08

:
:
8.4
:
:
:
:
:
:
:
:
:
:
5.0
:
:

m07

15.2
15.4
18.4
12.5
11.5
6.2
11.0
:
9.9
:
18.3
21.9
:
:
:
:

m08

:
:
18.2
:
:
:
:
:
:
:
:
:
:
:
:
:

m07

13.8
14.6
:
12.1
10.8
:
10.4
:
11.1
:
15.2
20.4
:
:
:
:

Harmonized unemployment rate (%), 2007 m07

EA-13

m08

:
:
:
:
:
:
:
:
:
:
:
:
:
:
:
:

20

15

10

5

0

Total

Males

Females

Under 25

Over 25

The unemployment rate is the number of people unemployed as a percentage of the labour force. The labour force is the total
number of people employed and unemployed.

Data for Belgium, Denmark, Estonia, Ireland, Latvia, Lithuania, Hungary, Poland, Slovenia and Slovakia have been revised.
For these countries, the unemployment rates are now referenced against quarterly results from the continuous European Union
Labour Force Survey; previously the rates were referenced against LFS data relating only to the 2nd quarter of each year. This
practice has improved comparability between Member States. The most notable revision of total unemployment rate concerns
Slovenia.

Further Metadata in SDDS format can be easily accessed from the Euro Indicators’ website http://www.europa.eu.int/comm/
eurostat/newcronos/info/notmeth/en/theme1/euroind//lm/lm.htm

128

DETAILED TABLES

3.4.3

Harmonized unemployment rate (continued)
As a percentage (%)

Seasonally adjusted data

Total

2007

Males

2007

Females

Under 25 years

Over 25 years

2007

2007

2007

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

20

15

10

5

0

m07

4.9
7.7
6.3
3.4
4.3
9.7
8.2
6.9
5.1
10.6
6.8
5.2
:
:
4.6
3.6

m08

m07

m08

:
7.7
:
:
4.3
:
:
:
:
:
:
:
:
:
:
:

3.5
7.4
5.7
2.9
3.9
8.5
6.5
7.9
4.2
9.7
6.4
5.2
:
:
4.7
3.7

:
7.5
:
:
3.9
:
:
:
:
:
:
:
:
:
:
:

m07

6.6
8.0
7.4
4.0
4.9
11.1
10.2
5.7
6.2
11.6
7.3
5.2
:
:
4.6
3.3

m08

:
8.0
:
:
4.9
:
:
:
:
:
:
:
:
:
:
:

m07

15.5
19.1
12.6
7.2
8.2
20.0
17.3
19.8
:
19.3
16.1
16.4
:
:
10.6
:

m08

:
19.3
:
:
8.2
:
:
:
:
:
:
:
:
:
:
:

m07

15.7
18.4
13.7
6.3
8.1
17.2
12.9
20.0
:
19.6
15.7
16.4
:
:
11.4
:

Harmonized unemployment rate (%), 2007 m07

EU-27

m08

:
18.6
:
:
8.2
:
:
:
:
:
:
:
:
:
:
:

20

15

10

5

0

Total

Males

Females

Under 25

Over 25

The unemployment is one of the key macroeconomic variables for both structural and short term analyses.
Harmonized  unemployment  following  the  ILO  definition  is  computed  by  Eurostat  using  national  data  as  inputs.  European
aggregates  are  obtained  via  an  aggregation  process.  Data  presented  are  seasonally  adjusted.  The  seasonally  adjustment  is
performed by Eurostat for all Member States using TRAMO/SEATS. European total aggregates are derived by aggregation of
national seasonally adjusted figures.

129

EUROSTATISTICS

3.4.4

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

20

15

10

5

0

Harmonized unemployment rate
As a percentage (%)

Seasonally adjusted data

Males less than
25 years old

Males 25 years
old and over

Females less than
25 years old

Females 25 years
old and over

2007

2007

2007

2007

Total

2007

m07

m08

6.9
6.8
7.5
6.6
5.5
3.2
6.4
5.4
4.7
:
8.0
8.5
:
4.1
5.6
4.7

:
:
7.4
:
:
:
:
:
:
:
:
:
:
4.0
:
:

m07

13.8
14.6
:
12.1
10.8
:
10.4
:
11.1
:
15.2
20.4
:
:
:
:

m08

m07

m08

:
:
:
:
:
:
:
:
:
:
:
:
:
:
:
:

4.8
4.9
5.7
5.6
3.6
2.0
4.6
5.5
3.9
:
5.1
6.4
:
2.8
5.3
4.3

:
:
5.6
:
:
:
:
:
:
:
:
:
:
2.8
:
:

m07

16.8
16.4
:
12.8
12.3
:
11.7
:
8.5
:
22.5
23.8
:
:
:
:

Harmonized unemployment rate (%), 2007 m07

EA-13

m08

m07

m08

:
:
:
:
:
:
:
:
:
:
:
:
:
:
:
:

7.2
6.6
7.4
6.6
6.7
3.3
6.8
4.1
3.6
:
9.0
7.7
:
4.5
4.6
4.1

:
:
7.4
:
:
:
:
:
:
:
:
:
:
4.4
:
:

20

15

10

5

0

Total

Males < 25

Males (cid:42) 25

Females < 25

Females (cid:42) 25

The unemployment rate is the number of people unemployed as a percentage of the labour force. The labour force is the total
number of people employed and unemployed.

Data for Belgium, Denmark, Estonia, Ireland, Latvia, Lithuania, Hungary, Poland, Slovenia and Slovakia have been revised.
For these countries, the unemployment rates are now referenced against quarterly results from the continuous European
Union Labour Force Survey; previously the rates were referenced against LFS data relating only to the 2nd quarter of each
year. This practice has improved comparability between Member States. The most notable revision of total unemployment
rate concerns Slovenia.

Further Metadata in SDDS format can be easily accessed from the Euro Indicators’ website http://www.europa.eu.int/comm/
eurostat/newcronos/info/notmeth/en/theme1/euroind//lm/lm.htm

130

DETAILED TABLES

3.4.4

Harmonized unemployment rate (continued)
As a percentage (%)

Seasonally adjusted data

Total

2007

Males less than
25 years old

Males 25 years
old and over

Females less than
25 years old

Females 25 years
old and over

2007

2007

2007

2007

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

20

15

10

5

0

m07

4.9
7.7
6.3
3.4
4.3
9.7
8.2
6.9
5.1
10.6
6.8
5.2
:
:
4.6
3.6

m08

:
7.7
:
:
4.3
:
:
:
:
:
:
:
:
:
:
:

m07

15.7
18.4
13.7
6.3
8.1
17.2
12.9
20.0
:
19.6
15.7
16.4
:
:
11.4
:

m08

:
18.6
:
:
8.2
:
:
:
:
:
:
:
:
:
:
:

m07

m08

2.6
6.4
4.2
2.3
3.2
7.4
5.8
6.5
3.7
8.5
5.1
3.7
:
:
3.6
:

:
6.5
:
:
3.2
:
:
:
:
:
:
:
:
:
:
:

m07

15.2
20.2
11.3
8.1
8.3
23.7
22.5
19.4
:
18.9
16.5
16.3
:
:
9.7
:

m08

:
20.4
:
:
8.3
:
:
:
:
:
:
:
:
:
:
:

m07

5.9
7.0
5.9
3.1
4.3
9.5
9.0
4.4
5.6
10.7
5.9
3.6
:
:
3.7
:

Harmonized unemployment rate (%), 2007 m07

EU-27

m08

:
7.1
:
:
4.3
:
:
:
:
:
:
:
:
:
:
:

20

15

10

5

0

Total

Males < 25

Males (cid:42) 25

Females < 25

Females (cid:42) 25

Harmonized unemployment is one of the key macroeconomic variables for both structural and short term analyses.
Harmonized  unemployment  following  the  ILO  definition  is  computed  by  Eurostat  using  national  data  as  input.  European
aggregates  are  obtained  via  an  aggregation  process.  Data  presented  are  seasonally  adjusted.  The  seasonally  adjustment  is
performed by Eurostat for all Member States using TRAMO/SEATS. European total aggregates are derived by aggregation of
national seasonally adjusted figures.

131

EUROSTATISTICS

3.4.5.a

Harmonized unemployment
Percentage change on previous period (t/t-1)

Seasonally adjusted data

2006

2007

06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07 07m08

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

1.0

0.0

-1.0

-2.0

-3.0

-1.0
-0.3
-0.9
-2.7
0.1
-3.3
-0.6
-2.1
-7.4
0.0
-0.9
-1.1
0.0
-4.3
-1.4
3.4

-1.5
-1.0
1.5
-8.9
-4.6
0.5
-5.1
2.0
1.0
-0.1
1.8
-0.5
-1.1
0.6
-5.7
-24.6

-1.2
-1.5
-1.2
0.3
-2.8
-1.7
-1.3
-2.3
0.6
0.0
-0.6
-1.0
0.0
-2.5
-1.4
-2.4

-1.1
-1.2
-1.4
0.4
-1.6
-2.0
-1.6
-3.8
5.3
0.0
-0.5
-0.9
0.0
0.0
-1.7
0.5

-2.5
-1.1
0.9
-3.5
-7.1
8.4
-2.8
-9.7
-1.9
-0.2
-0.2
-1.0
-6.0
-0.6
5.3
3.1

-1.5
-2.6
-1.2
-1.8
-1.1
1.1
-8.0
-1.2
1.6
0.0
-0.4
-1.0
0.0
0.0
-2.3
-2.9

-1.6
-1.5
-1.3
-2.7
-3.3
-0.3
-1.3
3.2
-2.4
0.0
-0.3
-1.0
0.0
-1.3
-2.6
-3.1

-0.1
-1.6
-0.1
-0.5
2.7
-13.1
-5.0
3.6
1.7
:
-0.1
-0.9
:
0.0
-2.6
7.5

-1.0
-0.2
-1.3
-3.1
-1.5
-0.2
-1.0
1.9
1.4
:
-0.1
-0.9
:
0.0
-1.3
-2.3

-0.9
-0.9
-1.1
-2.5
-2.0
-0.2
-1.4
-0.3
0.6
:
0.3
-1.1
:
-4.6
-1.2
-4.0

-1.1
-0.9
1.5
-4.7
-3.0
-9.4
-1.3
1.6
8.2
:
-0.4
-0.9
:
3.2
-2.7
0.1

Harmonized unemployment growth rates (t/t-1)

EA-13

:
:
-0.6
:
:
:
:
:
:
:
:
:
:
-1.3
:
:

1.0

0.0

-1.0

-2.0

-3.0

06m09

06m10

06m11

06m12

07m01

07m02

07m03

07m04

07m05

07m06

07m07

The unemployment rate is the number of people unemployed as a percentage of the labour force. The labour force is the total
number of people employed and unemployed.

Further Metadata in SDDS format can  be easily accessed from the  Euro Indicators’ website http://www.europa.eu.int/comm/
eurostat/newcronos/info/notmeth/en/theme1/euroind//lm/lm.htm

132

DETAILED TABLES

3.4.5.a

Harmonized unemployment (continued)
Percentage change on previous period (t/t-1)

Seasonally adjusted data

2006

2007

06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07 07m08

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

0.0

-1.0

-2.0

-3.0

1.0
0.1
-1.7
-6.0
-1.7
-2.3
0.5
0.4
-3.3
-1.8
-1.1
-1.6
0.2
-2.6
-2.6
1.4

1.0
0.2
-1.7
-1.3
-0.1
-2.4
3.9
-6.3
-4.3
-1.0
-1.3
-3.8
-2.3
-5.0
-3.7
-2.2

0.0
0.3
0.0
-1.6
-0.9
-2.9
1.0
0.1
-0.5
-2.4
-1.6
-3.4
0.5
-5.1
1.9
-3.4

1.0
0.7
-1.8
-2.4
-0.4
-3.1
0.5
0.0
-2.0
-3.3
-1.7
2.0
-0.2
-2.6
0.4
2.2

0.0
-4.8
-2.7
-1.2
-0.3
-6.4
4.1
-11.0
-0.2
-5.1
-1.3
0.4
1.8
-2.4
2.5
-3.0

0.0
1.2
-0.9
-0.4
-0.8
-3.4
-0.7
-0.7
-1.7
-1.4
-1.0
-1.8
0.1
0.1
-2.2
1.9

0.0
1.0
-0.9
-2.2
-1.0
-3.5
-0.7
0.1
-1.5
-1.5
-1.1
-2.1
-0.4
-0.9
-2.6
-0.4

-1.0
3.0
-1.9
-2.3
1.2
2.0
1.7
10.7
2.4
-2.5
-1.1
-4.8
-1.2
-0.6
1.4
-4.3

0.0
0.5
0.9
0.3
-1.4
-2.6
-2.2
0.4
-0.9
0.1
-0.6
-2.2
-0.3
-5.1
0.1
-2.4

1.0
0.6
-0.9
0.7
-0.3
-3.3
0.2
0.3
0.0
-0.8
-0.1
-8.8
:
:
1.5
-2.4

0.0
-0.3
-1.9
1.1
0.0
-4.0
0.6
-4.4
-1.0
-1.2
-0.3
-4.2
:
:
3.8
-3.8

Harmonized unemployment growth rates (t/t-1)

EU-27

06m09

06m10

06m11

06m12

07m01

07m02

07m03

07m04

07m05

07m06

07m07

:
1.1
:
:
-0.2
:
:
:
:
:
:
:
:
:
:
:

0.0

-1.0

-2.0

-3.0

133

EUROSTATISTICS

3.4.5.b

Harmonized unemployment
Percentage change on the corresponding period of the previous year (t/t-12)

Non-seasonally adjusted data

2006

2007

06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07 07m08

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

0.0

-2.0

-4.0

-6.0

-8.0

-10.0

-12.0

-14.0

-16.0

-4.0
-6.5
-7.7
-1.8
-11.4
-28.2
3.2
-24.6
-2.7
-15.1
-0.7
-3.7
-16.0
-23.4
-35.0
-14.4

-8.7
-11.1
-3.8
-18.0
-18.2
-13.8
-14.5
-20.1
-2.6
-9.7
-1.1
-3.6
-15.9
-16.5
-23.1
-53.6

-10.5
-10.0
-12.4
-12.0
-6.8
-4.9
-11.4
-12.9
-19.5
-19.8
-14.4
-13.1
-16.9 -17.4
-20.6
-20.1
5.9
-3.2
-9.7
-9.7
-2.3
-1.7
-6.5
-5.1
-15.9
-15.9
-18.1
-22.3
-23.3
-23.1
-44.9
-49.0

-10.9
-13.2
-4.6
-15.1
-30.4
-3.3
-16.3
-30.1
2.9
-6.1
-4.2
-7.9
-20.5
-14.9
-10.2
-29.5

-14.1
-15.4
-6.3
-15.7
-32.3
-0.5
-26.4
-20.2
4.3
-6.1
-4.4
-9.6
-20.5
-14.7
-11.6
-26.2

-13.5
-15.6
-7.8
-16.0
-35.9
1.5
-23.0
-11.5
-1.4
-6.1
-4.3
-10.9
-20.5
-16.4
-13.7
-27.8

-14.7
-15.0
-11.5
-22.0
-24.7
-22.9
-26.4
-23.9
0.3
:
-5.9
-11.3
:
-6.2
-23.1
-14.1

-15.2
-15.3
-14.6
-22.5
-25.2
-21.2
-27.7
-15.1
1.2
:
-4.9
-11.3
:
-9.1
-23.3
-13.7

-14.5
-14.9
-17.4
-23.5
-25.9
-19.3
-27.7
-9.9
-2.9
:
-2.3
-12.2
:
-25.0
-24.2
-19.0

-13.8
-15.4
-3.6
-38.2
-27.5
-22.9
-29.3
-8.2
9.9
:
-1.7
-11.3
:
-10.8
-17.1
-18.2

Harmonized unemployment growth rates (t/t-12)

EA-13

:
:
-3.1
:
:
:
:
:
:
:
:
:
:
-10.5
:
:

0.0

-2.0

-4.0

-6.0

-8.0

-10.0

-12.0

-14.0

-16.0

06m09

06m10

06m11

06m12

07m01

07m02

07m03

07m04

07m05

07m06

07m07

The unemployment rate is the number of people unemployed as a percentage of the labour force. The labour force is the total
number of people employed and unemployed.

Further Metadata in SDDS format can  be easily accessed from the  Euro Indicators’ website http://www.europa.eu.int/comm/
eurostat/newcronos/info/notmeth/en/theme1/euroind//lm/lm.htm

134

DETAILED TABLES

3.4.5.b

Harmonized unemployment (continued)
Percentage change on the corresponding period of the previous year (t/t-12)

Non-seasonally adjusted data

2006

2007

06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07 07m08

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

0.0

-2.0

-4.0

-6.0

-8.0

-10.0

-12.0

-14.0

-16.0

4.1
3.2
-0.9
-20.7
-14.5
-36.3
-4.0
18.0
-18.8
-25.1
-2.7
-8.8
10.7
-43.4
-9.6
-1.8

5.9
2.1
-0.9
-19.8
-12.8
-37.9
1.8
5.0
-29.1
-26.0
0.9
-18.7
6.5
-50.7
-11.0
-8.2

5.8
3.0
-1.7
-21.7
-13.0
-39.5
2.6
5.9
-30.9
-27.2
-18.4
-9.7
6.2
-60.4
-10.6
-13.6

6.6
4.9
-7.9
-21.7
-12.6
-40.8
3.0
6.4
-32.4
-29.4
-18.2
-16.1
7.1
-54.6
-7.2
-9.5

5.5
-5.4
-12.1
-18.7
-12.3
-39.8
9.2
-10.8
-19.5
-28.8
-15.6
-15.4
8.0
-49.6
0.5
-10.6

4.6
-2.9
-13.2
-14.1
-13.5
-41.9
8.5
-10.6
-21.9
-29.4
-11.3
-13.4
6.6
-41.4
-3.9
-3.0

2.9
1.3
-16.2
-17.1
-14.3
-46.3
8.0
-9.9
-24.0
-30.5
-4.1
-12.3
3.8
-44.8
-5.0
-2.9

4.1
5.9
-18.1
-20.0
-5.9
-33.0
9.4
2.1
-22.6
-28.4
-17.5
-23.4
0.8
-41.0
-4.2
-5.6

3.3
7.3
-13.7
-15.7
-7.6
-34.6
6.6
1.9
-21.9
-25.9
-18.6
-14.6
-1.1
-43.8
-2.6
-7.4

4.4
7.1
-15.3
-13.6
-7.4
-35.8
7.7
1.1
-20.0
-23.8
-7.8
-16.5
:
-37.5
-0.6
-14.9

3.3
2.8
-15.0
-9.6
-6.4
-39.3
9.3
-8.8
-17.1
-23.7
-10.8
-15.9
:
:
-0.6
-14.0

Harmonized unemployment growth rates (t/t-12)

EU-27

06m09

06m10

06m11

06m12

07m01

07m02

07m03

07m04

07m05

07m06

07m07

:
3.7
:
:
-5.1
:
:
:
:
:
:
:
:
:
:
:

0.0

-2.0

-4.0

-6.0

-8.0

-10.0

-12.0

-14.0

-16.0

135

EUROSTATISTICS

3.4.6.a

Total employment - National Accounts Concept (ESA95)
Percentage change on previous period (t/t-1)

Seasonally adjusted data

Agriculture

Industry

Construction

Trade, transport
& communic.

Financial serv. &
business activ.

Public
administration

2007

2007

2007

2007

2007

2007

07Q01 07Q02 07Q01 07Q02 07Q01 07Q02 07Q01 07Q02 07Q01 07Q02 07Q01 07Q02

EA-13
EU-27
BE
BG
CZ
DK
DE
EE
IE
EL
ES
FR
IT
CY
LV
LT

1.5

1.0

0.5

0.0

-0.5

-0.2
-0.3
0.4
:
:
5.8
0.8
-12.5
0.1
:
2.4
-0.5
-1.7
:
-9.2
-1.1

:
:
:
:
:
-4.4
0.2
:
:
:
-2.5
-0.6
:
:
:
:

-0.1
-0.2
0.0
:
:
1.9
0.5
6.6
-0.1
:
-0.6
-0.3
-0.1
:
0.6
1.3

:
:
:
:
:
-0.5
0.2
:
:
:
-0.2
-0.3
:
:
:
:

1.1
0.9
1.1
:
:
3.2
3.7
4.7
1.6
:
2.3
1.1
-1.3
:
-5.5
3.3

:
:
:
:
:
-0.5
-1.9
:
:
:
1.2
0.9
:
:
:
:

0.4
0.0
0.4
:
:
-0.1
0.4
-0.7
2.6
:
0.6
0.2
-0.3
:
2.1
2.2

:
:
:
:
:
1.1
0.3
:
:
:
1.8
0.3
:
:
:
:

0.9
0.6
0.8
:
:
1.8
1.0
5.2
0.3
:
0.8
1.1
0.9
:
-4.1
2.1

:
:
:
:
:
0.0
0.9
:
:
:
1.3
1.0
:
:
:
:

0.3
0.0
0.4
:
:
0.3
0.4
-8.5
1.4
:
1.3
0.2
-0.2
:
-1.4
-1.1

Total employment growth rates (t/t-1), 2007 q01

EA-13

:
:
:
:
:
-0.2
0.3
:
:
:
1.6
0.2
:
:
:
:

1.5

1.0

0.5

0.0

-0.5

Agriculture

Industry

Construction

Trade,
transport &
communic.

Financial serv.
& business
activity

Public
administration

Total Employment covers all persons, both employees and self-employed, engaged in some productive activity that falls within
the production boundary of the system.
1. Agriculture, hunting, forestry and fishing;
2. Total industry (excluding construction);
3. Construction;
4. Wholesale and retail trade, repair of motor vehicles, motorcycles and personal and household goods; hotels and restaurants;
transport, storage and communication;
5. Financial intermediation; real estate, renting and business activities;
6. Public administration and defence, compulsory social security; education; health and social work; other community, social
and personal service activities; private households with employed persons.

136

DETAILED TABLES

3.4.6.a

Total employment - National Accounts Concept (ESA95) (continued)
Percentage change on previous period (t/t-1)

Seasonally adjusted data

Agriculture

Industry

Construction

Trade, transport
& communic.

Financial serv. &
business activ.

Public
administration

2007

2007

2007

2007

2007

2007

07Q01 07Q02 07Q01 07Q02 07Q01 07Q02 07Q01 07Q02 07Q01 07Q02 07Q01 07Q02

-0.5
:
:
:
:
:
:
:
-0.5
-0.6
-0.2
:
:
-0.7
-
-

:
:
:
:
:
:
:
:
:
-1.8
:
:
:
:
-
-

0.1
:
:
:
:
:
:
:
0.3
1.4
1.9
:
:
0.9
-
-

:
:
:
:
:
:
:
:
:
-1.2
:
:
:
:
-
-

1.3
:
:
:
:
:
:
:
2.3
3.4
2.4
:
:
2.5
-
-

:
:
:
:
:
:
:
:
:
0.7
:
:
:
:
-
-

0.5
:
:
:
:
:
:
:
1.2
-4.3
0.2
:
:
0.7
-
-

:
:
:
:
:
:
:
:
:
2.4
:
:
:
:
-
-

2.6
:
:
:
:
:
:
:
1.5
1.7
0.6
:
:
1.9
-
-

:
:
:
:
:
:
:
:
:
-1.2
:
:
:
:
-
-

0.5
:
:
:
:
:
:
:
0.2
-0.1
0.4
:
:
0.2
-
-

Total employment growth rates (t/t-1), 2007 q01

EU-27

LU
HU
MT
NL
AT
PL
PT
RO
SI
SK
FI
SE
UK
NO
US
JP

1.5

1.0

0.5

0.0

-0.5

Agriculture

Industry

Construction

Trade,
transport &
communic.

Financial serv.
& business
activity

Public
administration

:
:
:
:
:
:
:
:
:
-1.0
:
:
:
:
-
-

1.5

1.0

0.5

0.0

-0.5

137

EUROSTATISTICS

3.4.6.b

Total employment - National Accounts Concept (ESA95)
Percentage change on the corresponding period of the previous year (t/t-4)

Non-seasonally adjusted data

Agriculture

Industry

Construction

Trade, transport
& communic.

Financial serv. &
business activ.

Public
administration

2007

2007

2007

2007

2007

2007

07Q01 07Q02 07Q01 07Q02 07Q01 07Q02 07Q01 07Q02 07Q01 07Q02 07Q01 07Q02

EA-13
EU-27
BE
BG
CZ
DK
DE
EE
IE
EL
ES
FR
IT
CY
LV
LT

5.0

4.0

3.0

2.0

1.0

0.0

-1.0

-2.0

:
-1.6
:
-2.8
:
0.5
:
0.6
:
1.4
1.1
3.6
1.0
1.3
:
-17.9
:
-0.2
:
:
-4.5
-0.9
-2.1
-2.1
:
-3.8
:
-3.3
-13.8
:
-15.1 -12.1

0.0
0.0
-0.2
3.7
0.7
3.0
0.9
1.5
1.2
:
-0.1
-1.6
0.6
0.4
-4.5
-0.7

:
:
:
:
:
2.7
1.0
:
:
:
-0.3
-1.5
:
:
:
0.0

4.8
4.6
3.8
29.2
-0.2
8.5
5.4
33.2
9.7
:
8.7
4.4
-1.4
7.4
35.5
16.6

:
:
:
:
:
5.5
2.8
:
:
:
7.9
4.2
:
:
:
9.1

1.0
0.8
0.8
2.7
2.5
4.4
1.4
-4.4
3.1
:
2.3
0.8
-0.3
3.0
3.6
4.8

:
:
:
:
:
4.3
1.4
:
:
:
2.2
0.9
:
:
:
4.6

3.7
3.1
5.1
14.4
5.2
6.0
4.5
7.9
3.7
:
6.4
3.1
1.4
4.8
13.6
7.8

:
:
:
:
:
4.7
4.1
:
:
:
6.6
3.2
:
:
:
-8.8

0.9
0.6
0.3
0.7
2.0
0.5
1.1
-2.8
4.9
:
4.6
0.7
0.6
2.3
-1.0
2.5

Total employment growth rates (t/t-4), 2007 q01

EA-13

:
:
:
:
:
0.2
1.0
:
:
:
5.3
0.7
:
:
:
6.3

5.0

4.0

3.0

2.0

1.0

0.0

-1.0

-2.0

Agriculture

Industry

Construction

Trade,
transport &
communic.

Financial serv.
& business
activity

Public
administration

Total Employment covers all persons both emplyees and self-employed engaged in some productive activity that falls within the
production boundary of the system.
1. Agriculture, hunting, forestry and fishing;
2. Total industry (excluding construction);
3. Construction;
4. Wholesale and retail trade, repair of motor vehicles, motorcycles and personal and household goods; hotels and restaurants;
transport, storage and communication;
5. Financial intermediation; real estate, renting and business activities;
6. Public administration and defence, compulsory social security; education; health and social work; other community, social
and personal service activities; private households with employed persons.

138

DETAILED TABLES

3.4.6.b

Total employment - National Accounts Concept (ESA95) (continued)
Percentage change on the corresponding period of the previous year (t/t-4)

Non-seasonally adjusted data

Agriculture

Industry

Construction

Trade, transport
& communic.

Financial serv. &
business activ.

Public
administration

2007

2007

2007

2007

2007

2007

07Q01 07Q02 07Q01 07Q02 07Q01 07Q02 07Q01 07Q02 07Q01 07Q02 07Q01 07Q02

0.7
-1.0
:
:
:
:
:
:
-3.0
-3.3
-5.7
0.0
:
-3.1
-
-

:
:
:
:
:
:
:
:
:
-4.9
:
:
:
:
-
-

0.2
1.5
:
:
:
:
:
:
0.5
4.1
-0.4
1.4
:
3.7
-
-

:
:
:
:
:
:
:
:
:
4.8
:
:
:
:
-
-

4.9
8.9
:
:
:
:
:
:
9.9
6.9
5.1
7.4
:
9.3
-
-

:
:
:
:
:
:
:
:
:
8.7
:
:
:
:
-
-

2.4
-0.1
:
:
:
:
:
:
3.2
1.8
2.4
2.8
:
2.1
-
-

:
:
:
:
:
:
:
:
:
1.1
:
:
:
:
-
-

8.6
1.0
:
:
:
:
:
:
6.3
6.0
4.7
5.6
:
6.5
-
-

:
:
:
:
:
:
:
:
:
4.2
:
:
:
:
-
-

2.3
-2.2
:
:
:
:
:
:
1.4
-1.3
1.3
1.8
:
2.8
-
-

Total employment growth rates (t/t-4), 2007 q01

EU-27

LU
HU
MT
NL
AT
PL
PT
RO
SI
SK
FI
SE
UK
NO
US
JP

5.0

4.0

3.0

2.0

1.0

0.0

-1.0

-2.0

-3.0

Agriculture

Industry

Construction

Trade,
transport &
communic.

Financial serv.
& business
activity

Public
administration

:
:
:
:
:
:
:
:
:
-1.7
:
:
:
:
-
-

5.0

4.0

3.0

2.0

1.0

0.0

-1.0

-2.0

-3.0

139

EUROSTATISTICS

3.4.7.a

Total employees - National Accounts Concept (ESA95)
Percentage change on previous period (t/t-1)

Seasonally adjusted data

Agriculture

Industry

Construction

Trade, transport
& communic.

Financial serv. &
business activ.

Public
administration

2007

2007

2007

2007

2007

2007

07Q01 07Q02 07Q01 07Q02 07Q01 07Q02 07Q01 07Q02 07Q01 07Q02 07Q01 07Q02

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

1.5

1.0

0.5

0.0

-0.5

0.2
1.1
0.8
:
:
0.0
1.6
-19.7
3.2
:
5.7
-0.3
-2.2
:
-0.7
-26.9

:
:
:
:
:
-4.4
0.2
:
:
:
-4.0
-0.3
:
:
:
:

-0.1
0.1
0.0
:
:
2.0
0.6
6.8
-0.3
:
-0.7
-0.3
-0.2
:
-0.8
1.8

:
:
:
:
:
-0.5
0.2
:
:
:
0.0
-0.4
:
:
:
:

0.6
1.3
1.3
:
:
3.0
4.3
6.6
1.4
:
2.7
1.2
-3.7
:
3.5
10.6

:
:
:
:
:
-1.2
-2.4
:
:
:
1.4
0.9
:
:
:
:

0.7
0.5
0.4
:
:
-0.4
0.6
-3.1
3.2
:
0.4
0.2
-0.3
:
0.4
-0.7

:
:
:
:
:
1.2
0.4
:
:
:
1.8
0.3
:
:
:
:

1.1
1.0
0.8
:
:
1.2
1.1
1.4
0.9
:
0.6
1.2
0.9
:
-3.8
17.2

:
:
:
:
:
0.2
0.9
:
:
:
1.5
1.0
:
:
:
:

0.2
0.1
0.4
:
:
0.0
0.4
-9.7
1.5
:
1.4
0.1
-0.1
:
0.0
-0.3

Total employees growth rates (t/t-1), 2007 q01

EA-13

:
:
:
:
:
-0.1
0.2
:
:
:
1.6
0.2
:
:
:
:

1.5

1.0

0.5

0.0

-0.5

Agriculture

Industry

Construction

Trade,
transport &
communic.

Financial serv.
& business
activity

Public
administration

Employees are defined as all persons who, by agreement, work for another resident institutional unit and receive a remuneration
(see ESA 1995, § 11.12; SNA 1993, § 4.153).

140

DETAILED TABLES

3.4.7.a

Total employees - National Accounts Concept (ESA95) (continued)
Percentage change on previous period (t/t-1)

Seasonally adjusted data

Agriculture

Industry

Construction

Trade, transport
& communic.

Financial serv. &
business activ.

Public
administration

2007

2007

2007

2007

2007

2007

07Q01 07Q02 07Q01 07Q02 07Q01 07Q02 07Q01 07Q02 07Q01 07Q02 07Q01 07Q02

-1.8
:
:
:
:
:
:
:
-1.6
-0.9
-1.6
:
:
:
-
-

:
:
:
:
:
:
:
:
:
-2.1
:
:
:
:
-
-

0.0
:
:
:
:
:
:
:
0.4
1.4
1.8
:
:
:
-
-

:
:
:
:
:
:
:
:
:
-1.4
:
:
:
:
-
-

1.6
:
:
:
:
:
:
:
2.4
2.7
2.1
:
:
:
-
-

:
:
:
:
:
:
:
:
:
-0.9
:
:
:
:
-
-

0.6
:
:
:
:
:
:
:
1.2
-1.5
0.5
:
:
:
-
-

:
:
:
:
:
:
:
:
:
2.8
:
:
:
:
-
-

2.6
:
:
:
:
:
:
:
1.5
0.8
0.8
:
:
:
-
-

:
:
:
:
:
:
:
:
:
-1.7
:
:
:
:
-
-

0.5
:
:
:
:
:
:
:
0.1
0.1
0.3
:
:
:
-
-

Total employees growth rates (t/t-1), 2007 q01

EU-27

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

1.5

1.0

0.5

 0.0

-0.5

Agriculture

Industry

Construction

Trade,
transport &
communic.

Financial serv.
& business
activity

Public
administration

:
:
:
:
:
:
:
:
:
-0.9
:
:
:
:
-
-

1.5

1.0

0.5

 0.0

-0.5

141

EUROSTATISTICS

3.4.7.b

Total employees - National Accounts Concept (ESA95)
Percentage change on the corresponding period of the previous year (t/t-4)

Non-seasonally adjusted data

Agriculture

Industry

Construction

Trade, transport
& communic.

Financial serv. &
business activ.

Public
administration

2007

2007

2007

2007

2007

2007

07Q01 07Q02 07Q01 07Q02 07Q01 07Q02 07Q01 07Q02 07Q01 07Q02 07Q01 07Q02

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

5.0

4.0

3.0

2.0

1.0

0.0

-1.0

-0.5
0.9
1.2
1.3
2.0
-2.5
3.4
-22.4
5.4
:
6.4
-0.9
-4.4
0.5
-8.0
-1.6

:
:
:
:
:
-2.2
2.6
:
:
:
-0.6
-1.0
:
:
:
:

0.0
-0.1
-0.3
3.7
0.4
3.0
1.0
0.6
1.0
:
-0.2
-1.8
0.5
2.5
-6.2
-1.1

:
:
:
:
:
2.5
1.0
:
:
:
-0.3
-1.7
:
:
:
:

4.5
4.9
4.4
29.3
0.5
9.1
6.1
34.4
9.1
:
8.9
4.4
-3.6
4.0
30.0
14.1

:
:
:
:
:
5.0
2.9
:
:
:
8.9
4.2
:
:
:
:

1.5
1.2
1.0
3.7
2.8
3.9
1.8
-6.2
4.0
:
3.3
0.7
0.9
5.0
2.3
8.3

:
:
:
:
:
4.1
1.7
:
:
:
3.1
0.8
:
:
:
:

4.1
3.4
5.9
15.5
7.1
5.6
4.7
11.3
3.5
:
7.1
3.2
1.9
3.5
9.3
7.3

:
:
:
:
:
4.4
4.2
:
:
:
7.6
3.3
:
:
:
:

1.0
0.5
0.2
0.1
1.9
0.3
0.9
-2.6
5.4
:
4.8
0.7
1.3
2.6
0.4
2.6

Total employees growth rates (t/t-4), 2007 q01

EA-13

:
:
:
:
:
0.0
0.9
:
:
:
5.5
0.7
:
:
:
:

5.0

4.0

3.0

2.0

1.0

0.0

-1.0

Agriculture

Industry

Construction

Trade,
transport &
communic.

Financial serv.
& business
activity

Public
administration

Employees are defined as all persons who, by agreement, work for another resident institutional unit and receive a remuneration
(see ESA 1995, § 11.12; SNA 1993, § 4.153).

142

DETAILED TABLES

3.4.7.b

Total employees - National Accounts Concept (ESA95) (continued)
Percentage change on the corresponding period of the previous year (t/t-4)

Non-seasonally adjusted data

Agriculture

Industry

Construction

Trade, transport
& communic.

Financial serv. &
business activ.

Public
administration

2007

2007

2007

2007

2007

2007

07Q01 07Q02 07Q01 07Q02 07Q01 07Q02 07Q01 07Q02 07Q01 07Q02 07Q01 07Q02

5.5
-2.6
:
:
:
:
:
:
-8.6
-3.7
-16.9
1.5
:
-1.3
-
-

:
:
:
:
:
:
:
:
:
-5.8
:
:
:
:
-
-

0.2
2.6
:
:
:
:
:
:
0.6
4.2
-0.4
1.5
:
3.7
-
-

:
:
:
:
:
:
:
:
:
4.4
:
:
:
:
-
-

5.1
9.6
:
:
:
:
:
:
9.7
5.9
4.4
8.9
:
9.9
-
-

:
:
:
:
:
:
:
:
:
6.3
:
:
:
:
-
-

2.5
0.9
:
:
:
:
:
:
3.7
3.8
2.8
2.8
:
2.2
-
-

:
:
:
:
:
:
:
:
:
3.6
:
:
:
:
-
-

8.9
3.9
:
:
:
:
:
:
6.2
5.4
5.9
5.8
:
6.7
-
-

:
:
:
:
:
:
:
:
:
2.7
:
:
:
:
-
-

2.4
-3.1
:
:
:
:
:
:
1.2
-1.7
1.3
1.7
:
2.7
-
-

Total employees growth rates (t/t-4), 2007 q01

EU-27

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

6.0

5.0

4.0

3.0

2.0

1.0

0.0

-1.0

Agriculture

Industry

Construction

Trade,
transport &
communic.

Financial serv.
& business
activity

Public
administration

:
:
:
:
:
:
:
:
:
-1.8
:
:
:
:
-
-

6.0

5.0

4.0

3.0

2.0

1.0

0.0

-1.0

143

EUROSTATISTICS

3.4.8.a

Labour cost in the whole economy
Percentage change on previous period (t/t-1)

Seasonally adjusted data

2004

2005

2006

2007

04Q02 04Q03 04Q04 05Q01 05Q02 05Q03 05Q04 06Q01 06Q02 06Q03 06Q04 07Q01

0.6
0.9
2.2
9.5
4.6
4.0
1.0
8.4
1.1
2.6
3.5
3.0
3.7
9.6
11.6
17.6

0.7
0.9
2.2
4.7
5.8
2.9
-0.5
18.6
1.0
4.5
4.7
3.4
5.3
0.5
11.3
4.8

0.6
0.7
7.1
5.9
2.4
2.4
0.9
2.3
0.9
5.4
4.5
2.7
1.5
5.8
15.1
5.9

0.6
0.7
-1.1
3.5
0.9
4.0
1.0
10.4
1.6
0.9
2.9
4.4
7.0
6.5
14.3
21.6

0.5
0.5
2.0
3.7
-1.4
2.4
-0.1
15.0
0.6
-7.5
3.3
1.4
-0.6
2.6
14.0
-1.4

0.6
0.6
3.7
6.4
11.8
1.7
1.2
7.9
0.9
-1.9
3.1
2.8
2.9
3.9
20.9
21.2

0.7
0.9
3.2
4.1
8.2
4.3
0.5
19.5
1.5
0.4
4.0
5.4
5.7
2.9
19.2
18.0

0.6
0.6
3.2
1.1
2.1
2.7
2.0
19.3
0.4
32.3
4.0
4.9
0.5
6.5
20.8
12.3

0.6
0.9
1.3
9.5
11.3
3.8
1.6
17.0
1.4
19.5
4.2
-0.1
:
4.2
29.5
31.5

0.5
0.8
0.9
9.3
2.3
1.5
1.3
14.4
1.3
-0.2
4.1
1.6
:
5.2
26.4
22.7

0.5
0.8
2.7
0.8
6.8
3.3
-0.8
20.0
1.8
-11.1
4.3
7.2
:
9.5
31.9
14.2

0.5
0.9
3.6
38.3
12.7
:
-1.5
30.3
0.5
15.7
4.1
6.3
:
:
38.0
18.8

Labour cost in the whole economy (t/t-1)

EA-13

04Q02

04Q03

04Q04

05Q01

05Q02

05Q03

05Q04

06Q01

06Q02

06Q03

06Q04

07Q01

0.8

0.6

0.4

0.2

0.0

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

0.8

0.6

0.4

0.2

0.0

The  quarterly  Labour  Cost  Index  measures  trends  in  average  labour  costs  by  units  of  labour  input.  The  index  shows  the
short-term development of the total hourly costs for employers. This index is an aggregation of the indices compiled by the
National Statistical Institutes from existing statistics or administrative data. Labour costs include gross wages and salaries,
employers’  social  contributions  and  taxes  net  of  subsidies  connected  to  employment.  The  basic  data  for  the  indices  covers
economic activities C to K according to NACE Rev.1.

144

DETAILED TABLES

3.4.8.a

Labour cost in the whole economy (continued)
Percentage change on previous period (t/t-1)

Seasonally adjusted data

2004

2005

2006

2007

04Q02 04Q03 04Q04 05Q01 05Q02 05Q03 05Q04 06Q01 06Q02 06Q03 06Q04 07Q01

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

1.0

0.8

0.6

0.4

0.2

0.0

4.5
6.6
5.8
4.8
1.5
:
5.0
:
6.4
3.4
0.4
:
-0.2
-
-
-

2.2
8.0
-5.9
3.0
2.9
:
3.4
:
12.8
6.9
5.6
:
10.7
-
-
-

7.6
8.1
12.2
-1.9
4.2
:
2.1
:
-9.0
11.3
6.0
:
0.7
-
-
-

3.2
10.3
-13.7
4.0
2.8
:
0.7
:
15.2
9.7
6.2
:
4.6
-
-
-

4.7
2.4
10.2
2.3
3.3
:
3.1
:
-1.2
8.7
3.6
:
-2.4
-
-
-

0.4
7.4
2.4
3.0
1.5
:
3.1
:
9.8
6.3
7.8
:
3.5
-
-
-

6.9
6.1
18.8
-13.5
4.8
:
-2.1
:
3.6
7.2
1.4
:
11.2
-
-
-

-0.5
7.6
-6.0
16.1
-0.2
:
3.1
:
8.3
12.2
-0.8
:
-2.8
-
-
-

3.7
12.2
-10.8
2.2
4.5
:
2.5
:
8.1
2.1
2.4
:
4.8
-
-
-

2.0
10.7
27.0
1.3
2.7
:
0.3
:
-3.8
10.8
10.1
:
5.0
-
-
-

1.0
13.4
-1.8
:
-1.6
:
8.6
:
23.5
8.0
0.2
:
5.4
-
-
-

Labour cost in the whole economy (t/t-1)

EU-27

04Q02

04Q03

04Q04

05Q01

05Q02

05Q03

05Q04

06Q01

06Q02

06Q03

06Q04

07Q01

5.9
1.4
-4.0
:
-5.1
:
2.6
:
-6.3
4.6
1.8
:
11.1
-
-
-

1.0

0.8

0.6

0.4

0.2

0.0

145

EUROSTATISTICS

3.4.8.b

Labour cost in the whole economy
Percentage change on the corresponding period of the previous year (t/t-4)

Non-seasonally adjusted data

2004

2005

2006

2007

04Q02 04Q03 04Q04 05Q01 05Q02 05Q03 05Q04 06Q01 06Q02 06Q03 06Q04 07Q01

2.4
3.3
1.4
7.0
6.8
3.9
1.2
6.5
5.2
7.7
3.7
4.3
1.9
5.7
10.4
4.3

2.7
3.4
2.0
5.9
7.3
2.9
0.8
8.6
5.1
13.5
3.3
4.3
2.3
2.5
10.7
5.7

2.5
3.6
3.4
5.9
5.6
2.9
0.3
6.9
4.7
6.7
4.6
4.4
2.4
4.5
12.9
6.4

2.9
3.4
2.9
6.0
3.5
3.3
0.8
10.2
4.6
5.5
4.2
3.5
5.0
6.2
13.8
13.1

2.2
2.5
2.6
4.3
1.6
3.3
0.3
11.4
4.1
0.4
4.4
3.0
3.3
3.7
13.8
6.9

2.1
2.2
2.9
4.8
3.1
2.4
1.0
8.3
4.1
-3.2
2.8
2.8
2.2
4.0
15.9
10.8

2.4
2.9
2.0
5.1
5.0
3.0
0.5
13.4
4.8
0.3
3.4
3.3
3.7
4.5
16.8
14.9

2.4
2.7
2.9
4.1
5.2
3.0
0.9
15.6
3.5
8.8
3.4
3.7
2.2
3.9
19.5
12.1

2.6
3.0
2.9
4.4
8.6
3.0
1.2
16.1
4.3
9.7
4.3
3.2
:
3.9
22.8
21.1

2.4
3.1
2.5
6.2
5.6
3.0
1.5
17.1
4.7
10.0
3.8
3.0
:
5.0
23.4
20.5

2.2
2.8
1.9
4.1
5.3
2.8
1.0
17.6
5.1
3.5
4.2
3.2
:
6.5
27.2
19.7

2.2
3.7
2.0
15.9
8.4
:
0.1
21.1
5.2
10.0
4.1
3.8
:
:
32.6
22.2

Labour cost growth rates (t/t-4)

EA-13

04Q02

04Q03

04Q04

05Q01

05Q02

05Q03

05Q04

06Q01

06Q02

06Q03

06Q04

07Q01

4

3

2

1

0

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

4

3

2

1

0

The quarterly Labour Cost Index measures trends in average labour costs by units of labour input. The index shows the short-
term development of the total hourly costs for employers. This index is an aggregation of the indices compiled by the National
Statistical Institutes from existing statistics or administrative data. Labour costs include gross wages and salaries, employers’
social contributions and taxes net of subsidies connected to employment. The basic data for the indices covers economic activities
C to K according to NACE Rev.1.

146

3.4.8.b

Labour cost in the whole economy (continued)
Percentage change on the corresponding period of the previous year (t/t-4)

DETAILED TABLES

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

4

3

2

1

0

Non-seasonally adjusted data

2004

2005

2006

2007

04Q02 04Q03 04Q04 05Q01 05Q02 05Q03 05Q04 06Q01 06Q02 06Q03 06Q04 07Q01

3.0
8.0
-0.1
3.3
-2.1
:
4.5
17.6
7.5
5.0
0.6
3.2
5.5
-
-
-

1.6
8.2
-0.7
5.1
-1.3
:
4.0
16.2
8.7
4.1
1.8
2.4
6.3
-
-
-

3.0
8.5
1.6
2.2
-0.2
:
2.4
14.3
3.9
7.4
2.9
3.4
7.5
-
-
-

4.6
8.7
-1.0
2.2
3.1
:
2.0
12.2
5.9
7.6
4.1
3.8
4.3
-
-
-

4.5
7.0
0.2
2.0
3.1
:
2.7
12.6
4.0
9.4
5.9
3.2
3.1
-
-
-

3.7
7.1
2.2
1.8
3.4
:
2.9
16.2
2.8
8.9
5.9
3.1
1.3
-
-
-

3.5
6.3
3.6
1.7
3.0
:
0.6
7.2
7.2
7.6
5.3
2.9
4.2
-
-
-

3.1
6.1
5.9
1.3
1.6
:
3.8
16.6
4.9
9.6
3.4
1.1
2.8
-
-
-

2.6
7.7
0.4
1.4
3.4
:
0.9
17.3
7.6
5.9
2.4
1.7
3.7
-
-
-

3.0
9.0
5.1
1.0
3.4
:
-0.8
17.1
3.3
8.3
3.4
1.8
4.1
-
-
-

1.2
11.8
1.7
:
1.6
:
3.1
29.9
9.3
8.5
3.1
2.0
3.1
-
-
-

3.5
9.0
1.4
:
2.3
:
5.8
25.0
4.5
5.9
3.1
2.8
7.0
-
-
-

Labour cost growth rates (t/t-4)

EU-27

04Q02

04Q03

04Q04

05Q01

05Q02

05Q03

05Q04

06Q01

06Q02

06Q03

06Q04

07Q01

4

3

2

1

0

147

EUROSTATISTICS

3.4.9.a

Unit labour cost
Percentage change on previous period (t/t-1)

Seasonally adjusted data

2004

2005

2006

2007

04Q03 04Q04 05Q01 05Q02 05Q03 05Q04 06Q01 06Q02 06Q03 06Q04 07Q01 07Q02

EA-12

EU-25

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

0.5

0.0

-0.5

-1.0

-0.1
-0.3
-1.3
-
-
2.0
0.0
-0.9
-
-
-0.0
0.1
0.0
-
-3.1
-0.6

0.1
-0.1
0.5
-
-
-2.2
0.0
-3.1
-
-
-0.3
-0.3
1.1
-
1.7
-1.1

-0.3
-0.2
0.6
-
-
0.3
-0.8
0.1
-
-
-0.4
0.3
-0.5
-
6.6
0.6

-0.4
0.0
0.2
-
-
-1.6
-0.5
-2.3
-
-
-0.5
0.1
-0.4
-
-2.1
-2.0

-0.6
-0.3
-0.4
-
-
-1.0
-1.0
-1.1
-
-
-0.7
-0.1
-0.4
-
-0.4
-1.4

0.2
0.1
-0.3
-
-
1.0
-0.3
0.2
-
-
-0.4
0.1
2.8
-
-0.7
1.5

-0.1
-0.1
0.1
-
-
-0.0
-0.0
2.2
-
-
-0.3
-0.3
-0.6
-
0.7
-0.1

-0.3
-0.4
-0.2
-
-
-0.7
-0.7
-0.4
-
-
-0.4
-0.7
0.8
-
3.5
-1.1

-0.6
-0.6
-0.5
-
-
0.1
-0.4
0.9
-
-
-0.8
0.2
-1.6
-
-0.9
1.6

-0.6
-0.5
-0.0
-
-
2.4
-0.9
2.2
-
-
0.2
0.1
-1.9
-
4.2
0.9

0.2
0.1
0.6
-
-
0.7
-0.3
3.4
-
-
-0.4
0.6
0.4
-
3.8
0.7

Unit labour cost growth rates (t/t-1)

EA-12

:
:
-0.4
-
-
1.0
0.0
2.2
-
-
-0.1
:
0.3
-
0.5
-1.9

0.5

0.0

-0.5

-1.0

04Q03

04Q04

05Q01

05Q02

05Q03

05Q04

06Q01

06Q02

06Q03

06Q04

07Q01

Unit  labour  cost  growth  compares  remuneration  and  productivity  to  show  how  and  to  what  degree  the  remuneration  of
employees is related to the productivity of their labour. It is the relationship between how much each worker is paid and the
amount each worker produces.

148

DETAILED TABLES

3.4.9.a

Unit labour cost (continued)
Percentage change on previous period (t/t-1)

Seasonally adjusted data

2004

2005

2006

2007

04Q03 04Q04 05Q01 05Q02 05Q03 05Q04 06Q01 06Q02 06Q03 06Q04 07Q01 07Q02

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

0.5

0.0

-0.5

-1.0

-0.5
-
-
-0.7
-0.8
-
-
-
-
-0.3
0.3
-
-0.3
-
-
-

1.2
-
-
-0.2
-0.1
-
-
-
-
-0.5
0.1
-
0.7
-
-
-

0.5
-
-
-0.6
0.2
-
-
-
-
-0.9
0.4
-
0.5
-
-
-

-1.5
-
-
-1.1
0.0
-
-
-
-
0.3
1.4
-
0.4
-
-
-

-3.3
-
-
-0.6
-0.3
-
-
-
-
-1.0
0.2
-
1.3
-
-
-

-1.8
-
-
-0.4
-0.3
-
-
-
-
-0.6
-0.5
-
-0.3
-
-
-

-0.8
-
-
0.5
-0.3
-
-
-
-
0.5
-0.3
-
0.7
-
-
-

0.5
-
-
-0.4
-0.4
-
-
-
-
-1.0
-0.3
-
-1.2
-
-
-

-1.1
-
-
-0.5
-0.2
-
-
-
-
-0.6
-1.2
-
-0.8
-
-
-

-0.3
-
-
0.1
-0.7
-
-
-
-
0.0
-0.8
-
-0.0
-
-
-

1.3
-
-
:
-0.6
-
-
-
-
-0.5
0.4
-
-0.1
-
-
-

Unit labour cost growth rates (t/t-1)

EU-25

:
-
-
:
-0.1
-
-
-
-
-0.1
0.5
-
-1.7
-
-
-

0.5

0.0

-0.5

-1.0

04Q03

04Q04

05Q01

05Q02

05Q03

05Q04

06Q01

06Q02

06Q03

06Q04

07Q01

Unit  labour  cost  growth  compares  remuneration  and  productivity  to  show  how  and  to  what  degree  the  remuneration  of
employees is related to the productivity of their labour. It is the relationship between how much each worker is paid and the
amount each worker produces.
(1) Due to a change of methodology the data for Austria are not available.

149

EUROSTATISTICS

3.4.9.b

Unit labour cost
Percentage change on the corresponding period of the previous year (t/t-4)

Non-seasonally adjusted data

2004

2005

2006

2007

04Q03 04Q04 05Q01 05Q02 05Q03 05Q04 06Q01 06Q02 06Q03 06Q04 07Q01 07Q02

EA-12

EU-25

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

0.0

-0.5

-1.0

-1.5

-2.0

-1.0
-1.2
-3.4
-
-
-0.2
-1.0
3.0
-
-
-1.7
-0.4
-1.2
-
-1.8
1.0

-0.5
-0.9
-2.7
-
-
-1.9
-0.4
-2.9
-
-
-1.4
-0.3
0.8
-
0.3
-0.4

-0.6
-1.0
-1.2
-
-
-1.3
-1.2
2.7
-
-
-1.7
-0.4
1.0
-
5.6
-0.5

-0.6
-0.5
-0.0
-
-
-1.6
-1.3
-6.0
-
-
-1.1
0.2
0.2
-
2.8
-3.2

-1.2
-0.6
0.9
-
-
-4.5
-2.3
-6.2
-
-
-1.8
-0.0
-0.3
-
5.7
-3.9

-1.0
-0.4
0.1
-
-
-1.3
-2.7
-3.0
-
-
-1.9
0.3
1.4
-
3.1
-1.3

-0.9
-0.2
-0.5
-
-
-1.6
-1.9
-1.0
-
-
-1.9
-0.2
1.3
-
-2.6
-2.0

-0.8
-0.7
-0.8
-
-
-0.8
-2.1
0.9
-
-
-1.8
-1.0
2.5
-
3.0
-1.0

-0.8
-1.0
-0.9
-
-
0.3
-1.5
3.0
-
-
-1.8
-0.7
1.4
-
2.4
2.0

-1.7
-1.6
-0.7
-
-
1.7
-2.0
4.9
-
-
-1.3
-0.7
-3.2
-
7.5
1.3

-1.4
-1.5
-0.1
-
-
2.4
-2.2
6.1
-
-
-1.4
0.2
-2.2
-
10.9
2.1

Unit labour cost growth rates (t/t-4)

EA-12

:
:
-0.3
-
-
4.3
-1.5
8.9
-
-
-1.1
:
-2.8
-
7.7
1.2

0.0

-0.5

-1.0

-1.5

-2.0

04Q03

04Q04

05Q01

05Q02

05Q03

05Q04

06Q01

06Q02

06Q03

06Q04

07Q01

Unit  labour  cost  growth  compares  remuneration  and  productivity  to  show  how  and  to  what  degree  the  remuneration  of
employees is related to the productivity of their labour. It is the relationship between how much each worker is paid and the
amount each worker produces.

150

DETAILED TABLES

3.4.9.b

Unit labour cost (continued)
Percentage change on the corresponding period of the previous year (t/t-4)

Non-seasonally adjusted data

2004

2005

2006

2007

04Q03 04Q04 05Q01 05Q02 05Q03 05Q04 06Q01 06Q02 06Q03 06Q04 07Q01 07Q02

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

JP

US

0.0

-0.5

-1.0

-1.5

-2.0

-2.5

0.9
-
-
-1.2
-3.4
-
-
-
-
-2.7
0.4
-
-1.5
-
-
-

2.1
-
-
-1.2
-3.0
-
-
-
-
-2.1
0.6
-
-0.6
-
-
-

2.0
-
-
-1.6
-1.6
-
-
-
-
-1.5
1.8
-
-0.0
-
-
-

-0.2
-
-
-2.5
-0.7
-
-
-
-
-1.4
2.2
-
1.2
-
-
-

-3.1
-
-
-2.4
-0.2
-
-
-
-
-2.1
2.1
-
2.9
-
-
-

-6.0
-
-
-2.6
-0.4
-
-
-
-
-2.2
1.4
-
1.9
-
-
-

-7.3
-
-
-1.5
-0.9
-
-
-
-
-0.9
0.8
-
2.2
-
-
-

-5.4
-
-
-0.8
-1.3
-
-
-
-
-2.1
-0.9
-
0.5
-
-
-

-3.2
-
-
-0.7
-1.2
-
-
-
-
-1.7
-2.3
-
-1.6
-
-
-

-1.7
-
-
-0.3
-1.6
-
-
-
-
-1.1
-2.5
-
-1.3
-
-
-

0.4
-
-
:
-1.9
-
-
-
-
-2.1
-1.8
-
-2.1
-
-
-

Unit labour cost growth rates (t/t-4)

EU-25

:
-
-
:
-1.5
-
-
-
-
-1.2
-1.0
-
-2.6
-
-
-

0.0

-0.5

-1.0

-1.5

-2.0

-2.5

04Q03

04Q04

05Q01

05Q02

05Q03

05Q04

06Q01

06Q02

06Q03

06Q04

07Q01

Unit  labour  cost  growth  compares  remuneration  and  productivity  to  show  how  and  to  what  degree  the  remuneration  of
employees is related to the productivity of their labour. It is the relationship between how much each worker is paid and the
amount each worker produces.
(1) Due to a change of methodology the data for Austria are not available.

151

EUROSTATISTICS

3.4.10

Industry employment expectations for the months ahead
Seasonally adjusted data

2006

2007

Balance

06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07 07m08

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

-3.8
-5.2
0.5
3.9
-2.6
8.4
-6.3
10.0
-11.5
2.9
2.9
-12.0
3.9
14.0
8.8
-0.3

-3.4
-4.8
4.8
4.0
9.8
10.7
-5.1
15.1
-19.6
-0.4
-4.2
-10.6
3.6
25.9
8.2
4.2

-1.5
-2.0
3.3
5.8
7.0
10.2
-2.0
22.2
-10.7
-1.6
-3.9
-8.3
3.6
15.6
5.9
2.8

-0.3
-2.5
0.6
-1.2
8.4
9.0
0.6
19.0
7.4
-1.2
-4.7
-7.0
3.0
16.4
8.0
6.8

0.5
-2.5
2.8
-3.0
3.6
4.4
2.1
16.5
5.6
5.7
0.3
-7.7
1.9
18.5
8.2
-1.6

1.1
-0.6
-0.9
-5.1
5.7
12.2
2.3
16.1
4.8
7.5
2.7
-7.4
3.2
16.9
9.6
7.4

2.2
-0.1
1.1
-4.6
8.2
8.2
5.8
16.3
6.9
2.2
5.7
-10.6
2.6
18.1
6.7
-3.7

2.0
-0.6
3.8
-5.4
2.1
8.2
2.8
10.2
2.9
-1.8
3.0
-5.6
3.4
16.1
3.3
-5.8

2.5
0.9
4.5
-1.0
10.4
5.4
5.0
12.8
15.0
-5.4
2.7
-5.8
2.8
23.5
7.0
-3.9

3.4
2.0
3.0
-4.5
3.4
9.6
6.1
11.9
-5.2
-4.0
6.1
-5.8
3.7
16.7
8.4
1.7

2.6
1.2
2.1
-6.9
8.4
8.5
6.8
3.7
-8.3
-4.2
0.0
-5.7
2.7
16.7
5.3
0.7

Source: DG ECFIN

Industry employment expectations for the months ahead balance

EA-13

4

2

0

-2

-4

-6

06m09

06m10

06m11

06m12

07m01

07m02

07m03

07m04

07m05 07m06

07m07

07m08

2.1
-0.7
2.2
-4.0
11.6
9.4
4.2
7.2
-3.1
:
-2.3
:
3.0
19.5
5.3
2.9

4

2

0

-2

-4

-6

The indicator of employment expectations for industry is the difference (in percentage points of total answers) between positive
and negative options to the question ‘How do you expect your firm’s total employment to change over the next 3 months?’

152

DETAILED TABLES

3.4.10

Industry employment expectations for the months ahead (continued)
Seasonally adjusted data

2006

2007

Balance

06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07 07m08

-32.0
-9.3
-8.4
0.2
4.8
0.0
-13.5
-4.7
-8.2
-7.0
-2.1
-14.2
-15.0
-
-
-

-25.0
-1.9
-0.9
2.5
10.5
1.5
-16.7
-0.8
-6.1
-6.1
5.1
-10.2
-18.0
-
-
-

-23.3
-5.8
-17.4
2.2
11.6
4.5
-12.4
-4.3
-5.5
-8.7
8.5
-13.8
-5.7
-
-
-

-19.6
-6.9
5.3
3.1
11.7
5.7
-16.1
-5.0
-7.1
-4.0
4.3
-7.3
-17.5
-
-
-

-19.2
1.1
7.4
2.5
10.8
9.3
-14.5
-4.6
0.0
0.7
-0.4
3.1
-24.7
-
-
-

-9.1
-6.9
-6.2
1.9
12.7
8.8
-14.8
-4.0
-0.9
1.9
5.4
3.5
-15.0
-
-
-

-18.0
-1.5
2.0
2.9
12.0
8.3
-13.8
-1.9
6.9
-7.0
7.1
-3.5
-14.9
-
-
-

-5.0
1.6
-22.3
5.1
12.8
8.3
-11.7
-2.3
10.4
-7.3
5.5
-0.8
-16.7
-
-
-

-7.4
1.8
-23.6
5.7
8.1
8.9
-14.3
-3.5
9.4
-11.1
7.5
5.4
-11.4
-
-
-

-8.0
-0.8
-27.9
4.9
10.6
7.9
-11.8
-4.0
6.9
-0.9
13.0
9.2
-8.2
-
-
-

-7.2
1.5
-26.6
6.3
11.5
7.9
-13.5
-1.2
6.3
2.9
3.8
10.7
-11.3
-
-
-

-6.0
-4.2
-16.7
6.3
11.5
6.1
-14.6
-3.8
10.3
0.7
8.8
8.9
-21.3
-
-
-

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

Source: DG ECFIN

Industry employment expectations for the months ahead balance

EU-27

06m09

06m10

06m11

06m12

07m01

07m02

07m03

07m04

07m05 07m06

07m07

07m08

4

2

0

-2

-4

-6

4

2

0

-2

-4

-6

The indicator of employment expectations for industry is the difference (in percentage points of total answers) between positive
and negative options to the question ‘How do you expect your firm’s total employment to change over the next 3 months?’

153

EUROSTATISTICS

3.4.11

Construction employment expectations for the months ahead
Seasonally adjusted data

2006

2007

Balance

06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07 07m08

8.5
8.9
12.3
15.1
10.8
12.9
-7.5
36.8
26.7
54.4
11.7
27.2
-6.4
-29.9
18.7
9.9

6.5
7.8
13.0
23.2
8.1
15.2
-6.5
41.6
-8.5
27.1
7.6
25.0
-4.5
1.4
24.9
17.0

9.8
10.0
16.1
19.8
9.5
18.1
-4.5
41.3
-13.6
9.1
18.2
24.6
1.0
-0.8
25.6
28.6

6.9
8.4
13.6
29.3
11.3
20.1
-1.3
44.9
4.3
24.8
0.0
24.8
-5.8
21.3
36.3
24.3

10.3
10.4
8.7
29.3
4.1
17.0
-3.3
31.4
26.9
21.4
9.0
24.9
9.1
21.5
29.3
31.3

8.4
10.1
10.1
7.5
0.1
9.6
-7.2
30.3
-1.4
18.0
11.6
25.4
5.5
5.4
28.2
27.9

9.1
10.1
9.0
22.2
-0.5
2.5
-8.2
31.0
-13.2
23.5
17.0
26.0
6.3
9.0
31.0
21.9

6.6
7.9
14.0
14.3
-3.2
-2.1
-12.8
30.0
-7.5
16.3
11.8
22.1
7.6
14.0
26.3
23.0

6.5
8.4
10.1
16.1
3.1
-6.2
-11.9
20.1
-14.9
10.7
13.9
25.0
1.1
7.9
22.3
17.1

6.1
7.9
8.8
12.1
6.9
-3.5
-11.3
19.7
-3.6
9.2
7.6
27.7
-1.3
13.6
21.7
15.4

6.1
7.4
5.8
11.6
-0.7
1.9
-10.0
25.0
-22.2
18.0
10.0
25.3
-2.3
6.9
19.1
16.1

6.5
9.3
9.7
22.7
1.6
0.6
-9.9
16.6
-2.7
:
6.7
:
-0.2
9.3
20.6
15.2

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

Source: DG ECFIN

Construction employment expectations for the months ahead balance

EA-13

12

10

8

6

4

2

0

12

10

8

6

4

2

0

06m09

06m10

06m11

06m12

07m01

07m02

07m03

07m04

07m05

07m06

07m07

07m08

The indicator of employment expectations for construction is the difference (in percentage points of total answers) between
positive  and  negative  options  to  the  question  ‘How  do  you  expect  your  firm’s  total  employment  to  change  over  the  next  3
months?’.

154

DETAILED TABLES

3.4.11

Construction employment expectations for the months ahead (continued)
Seasonally adjusted data

2006

2007

Balance

06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07 07m08

-28.4
-12.7
-
19.5
8.4
19.1
-20.1
10.1
21.8
13.6
16.8
17.6
8.2
-
-
-

-41.2
-11.5
-
20.8
5.8
16.8
-28.4
12.9
25.3
13.2
13.3
36.0
8.0
-
-
-

-26.4
-11.7
-
22.4
9.0
20.2
-28.0
13.0
24.1
16.5
18.2
16.8
8.1
-
-
-

-26.1
-17.9
-
22.5
4.4
26.2
-20.9
14.1
23.1
10.2
21.7
27.3
8.8
-
-
-

-17.5
-16.1
-
23.8
9.4
24.3
-22.4
12.9
16.6
8.9
19.2
36.1
5.6
-
-
-

-17.1
-15.3
-
18.5
-0.7
25.1
-15.7
8.7
21.6
15.9
20.3
41.0
12.4
-
-
-

-13.0
-16.2
-
19.8
-8.5
25.0
-20.2
2.4
21.5
11.4
25.8
33.6
11.2
-
-
-

-23.8
-13.6
-
19.3
2.0
21.8
-18.2
1.6
23.7
2.4
8.0
50.7
8.1
-
-
-

-24.9
-20.3
-
20.0
-1.2
21.0
-18.4
2.7
27.1
-1.3
30.2
42.1
13.0
-
-
-

-18.1
-20.6
-
27.5
-3.1
18.3
-18.2
4.6
26.7
-8.2
24.8
52.4
10.9
-
-
-

-17.6
-16.2
-
27.3
4.7
20.9
-17.9
5.7
23.5
4.3
6.4
50.9
7.2
-
-
-

:
-18.8
-
27.6
-2.5
21.8
-7.8
5.8
20.7
16.6
7.5
58.0
15.6
-
-
-

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

Source: DG ECFIN

Construction employment expectations for the months ahead balance

EU-27

12

10

8

6

4

2

0

12

10

8

6

4

2

0

06m09

06m10

06m11

06m12

07m01

07m02

07m03

07m04

07m05

07m06

07m07

07m08

The indicator of employment expectations for construction is the difference (in percentage points of total answers) between
positive  and  negative  options  to  the  question  ‘How  do  you  expect  your  firm’s  total  employment  to  change  over  the  next  3
months?’.

155

Section 3.5

PRICES

EUROSTATISTICS

3.5.1

Harmonized indices of consumer prices
Growth index 2005=100

Non-seasonally adjusted data

All items

2007

Food

2007

Energy

2007

All items excluding
energy, food, alcohol
and tobacco

2007

m05

m06

m07

m05

m06

m07

m05

m06

m07

m05

m06

m07

104.4 104.5 104.3 104.8 104.9 104.8 110.4 110.9 111.5 103.5 103.6 103.2
104.7 104.9 104.6 105.7 105.8 105.6 112.0 112.5 112.8 103.5 103.5 103.2
104.1 104.2 103.1 106.0 106.2 106.6 105.7 105.6 106.4 103.3 103.4 101.6
113.0 112.7 114.7 120.1 118.6 122.4 110.2 110.6 113.1 110.5 110.7 111.6
104.8 105.1 105.4 106.0 106.5 106.6 112.2 112.7 113.3 102.5 102.6 103.0
103.8 103.6 103.1 105.7 105.1 105.1 105.6 105.7 106.5 103.0 102.9 102.0
103.8 103.9 104.4 104.9 105.0 105.0 112.5 112.9 113.9 102.3 102.4 102.9
110.1 110.8 111.8 110.5 110.8 112.2 114.3 114.6 119.9 109.1 109.9 110.0
105.6 105.9 105.7 104.8 105.1 105.1 113.7 114.6 115.5 104.9 105.0 104.6
106.7 106.6 105.8 107.0 106.0 105.7 113.2 113.3 112.9 106.0 106.2 105.2
106.7 106.9 106.1 107.0 107.2 107.4 109.8 110.6 111.1 106.1 106.2 104.9
103.5 103.7 103.3 102.8 103.1 102.5 107.7 108.2 108.7 103.2 103.2 102.9
104.5 104.7 104.1 104.8 105.0 105.0 108.9 110.3 110.6 104.0 104.1 103.2
104.5 104.5 103.8 109.3 106.6 107.5 110.2 112.3 113.1 102.1 102.5 101.1
115.1 116.0 117.4 118.9 121.3 124.5 121.5 122.3 124.0 111.4 111.7 112.0
108.6 108.8 109.5 112.6 113.0 114.1 113.8 114.1 115.2 104.6 104.8 105.1

Harmonized indices of consumer prices growth index (2005=100), 2007 m07

EA-13

All items

Food

Energy

Other items

115

110

105

100

95

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

115

110

105

100

95

Harmonised Indices of Consumer Prices (HICPs) are used in the assessment of inflation convergence as required under Article
109j of the Treaty on European Union.
The HICP aims at measuring “pure” price changes and should be unaffected by changes in quality of products.
The common classification for Harmonized Indices of Consumer Prices is the COICOP (Classification Of Individual
COnsumption by Purpose). A version of this classification (COICOP/HICP) has been specially adapted for the HICPs.

158

DETAILED TABLES

3.5.1

Harmonized indices of consumer prices (continued)
Growth index 2005=100

Non-seasonally adjusted data

All items

2007

Food

2007

Energy

2007

All items excluding
energy, food, alcohol
and tobacco

2007

m05

m06

m07

m05

m06

m07

m05

m06

m07

m05

m06

m07

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

115

110

105

100

95

105.8 106.0 105.2 106.7 106.9 107.4 111.8 113.4 113.0 104.4 104.4 103.0
112.1 112.5 112.5 118.1 118.4 117.4 120.8 122.3 122.6 107.4 107.7 108.0
103.8 104.0 104.7 103.1 102.5 103.6 106.9 110.8 112.8 103.3 103.5 104.1
104.1 103.6 102.8 102.5 102.9 102.9 113.9 113.7 111.0 103.1 102.3 101.6
103.8 103.8 103.8 104.6 104.4 104.5 108.9 109.2 112.5 103.1 103.1 102.7
103.9 104.1 103.9 105.4 104.9 104.0 108.9 110.0 110.3 101.8 102.0 102.2
106.0 106.0 105.7 106.7 106.4 106.3 112.9 113.3 113.6 104.9 104.9 104.5
110.6 110.8 111.2 108.8 109.1 110.2 118.5 118.7 118.7 108.9 108.9 108.5
106.5 106.8 106.7 108.7 108.8 110.0 114.9 115.1 115.6 104.1 104.6 103.9
106.0 106.1 106.0 106.9 106.6 105.6 114.5 114.7 114.8 103.0 103.2 103.4
102.9 103.0 102.7 102.8 102.4 103.4 108.9 109.3 110.4 102.2 102.5 101.7
103.0 103.2 102.8 103.5 103.4 104.1 107.3 107.4 106.8 102.1 102.3 101.7
104.8 105.0 104.4 106.7 107.2 105.9 121.9 121.5 120.4 103.0 103.2 102.7
103.2 103.1 102.9 103.6 104.2 104.9 104.8 104.5 104.9 102.8 102.5 102.0
-
-

-
-

-
-

-
-

-
-

-
-

-
-

-
-

-
-

-
-

-
-

-
-

Harmonized indices of consumer prices growth index (2005=100), 2007 m07

EU-27

All items

Food

Energy

Other items

115

110

105

100

95

The  Harmonised  Indices  of  Consumer  Prices  (HICPs)  are  probably  the  most  important  variables  for  the  follow-up  of  the
economic  situation  and  for  the  assesment  of  monetary  policies.  European  aggregate  totals  are  obtained  via  an  aggregation
process. The formula uses a chained Laspeyres index. Chained data are referenced to 1996=100.
Data are presented in non seasonnally adjusted form.

159

EUROSTATISTICS

3.5.2.a

Harmonized indices of consumer prices
All items

Percentage change on previous period (t/t-1)

Non-seasonally adjusted data

2006

2007

06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

1.0

0.5

0.0

-0.5

-1.0

0.1
0.2
1.7
0.0
0.2
0.0
-0.1
0.7
0.8
-1.0
0.2
0.3
-0.2
0.6
-0.2
-0.1

0.0
0.0
-0.5
-0.4
-0.5
0.4
-0.5
-0.2
-0.3
2.0
-0.2
-0.2
0.7
1.2
0.7
-0.1

0.1
0.1
-0.3
0.7
-0.5
-0.1
0.1
-0.1
0.0
0.7
0.4
-0.2
0.2
0.5
0.4
1.0

0.0
0.1
0.2
1.1
-0.2
0.0
-0.1
0.8
0.0
-0.2
0.2
0.1
0.1
-0.1
1.0
0.8

0.4
0.4
0.1
0.9
0.2
0.0
0.9
0.3
0.4
0.6
0.3
0.2
0.1
-0.3
0.3
0.2

-0.5
-0.5
-1.7
1.5
1.0
-0.3
-0.2
0.7
-0.6
-0.4
-0.7
-0.4
-1.1
-1.7
1.4
0.0

0.3
0.3
2.4
0.5
0.3
0.8
0.5
0.1
0.9
-1.6
0.1
0.2
0.1
-0.3
0.5
0.4

0.7
0.6
0.0
0.0
0.3
0.5
0.2
1.1
0.7
2.5
0.8
0.5
1.2
1.3
1.4
0.6

0.6
0.6
0.5
0.6
0.8
0.3
0.4
0.7
0.5
0.8
1.4
0.5
0.6
1.3
0.9
0.9

0.2
0.3
-0.1
0.3
0.4
0.2
0.2
0.8
0.3
0.2
0.3
0.3
0.4
0.5
0.7
0.5

0.1
0.1
0.1
-0.2
0.3
-0.2
0.1
0.6
0.3
0.0
0.2
0.1
0.2
0.0
0.9
0.3

HICP growth rates - All items (t/t-1)

EA-13

-0.2
-0.3
-1.1
1.7
0.3
-0.5
0.5
1.0
-0.2
-0.8
-0.7
-0.3
-0.6
-0.7
1.2
0.6

1.0

0.5

0.0

-0.5

-1.0

06m08

06m09

06m10

06m11

06m12

07m01

07m02

07m03

07m04

07m05

07m06

07m07

Harmonised Indices of Consumer Prices (HICPs) are used in the assessment of inflation convergence as required under Article
109j of the Treaty on European Union.
The HICP aims at measuring “pure” price changes and should be unaffected by changes in quality of products.
The common classification for Harmonized Indices of Consumer Prices is the COICOP (Classification Of Individual
COnsumption by Purpose). A version of this classification (COICOP/HICP) has been specially adapted for the HICPs.

160

DETAILED TABLES

3.5.2.a

Harmonized indices of consumer prices (continued)
All items

Percentage change on previous period (t/t-1)

Non-seasonally adjusted data

2006

2007

06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

1.0

0.5

0.0

-0.5

-1.0

1.1
1.0
-0.3
0.5
0.3
0.3
-0.1
-0.1
0.7
-0.1
0.3
0.0
0.4
0.0
-
-

-0.6
1.4
0.2
0.5
-0.1
0.1
0.4
0.1
0.3
-0.2
0.1
0.5
0.1
1.6
-
-

-0.5
0.5
-0.5
-0.2
-0.1
0.0
0.0
0.2
-0.7
0.0
0.1
0.2
0.2
0.0
-
-

0.1
0.2
-3.4
0.0
0.1
0.0
0.0
1.1
0.3
0.5
0.0
0.0
0.3
-0.2
-
-

0.1
0.1
-0.1
-0.3
0.4
-0.2
0.2
0.7
0.4
0.1
0.0
0.0
0.6
-0.6
-
-

-0.3
1.7
-1.1
-0.2
0.1
0.3
-0.3
0.2
-0.5
0.5
-0.3
-0.5
-0.8
-1.3
-
-

1.0
0.9
0.2
0.7
0.3
0.3
0.0
0.0
-0.1
0.1
0.6
0.5
0.4
0.5
-
-

0.7
0.6
0.8
1.3
0.5
0.6
1.3
0.1
1.1
0.1
0.7
0.6
0.5
0.7
-
-

0.6
0.5
2.5
0.6
0.4
0.5
0.9
0.5
1.1
0.3
0.5
0.5
0.3
0.1
-
-

0.4
0.8
0.7
0.0
0.2
0.6
0.2
0.6
1.1
0.0
-0.3
-0.1
0.3
0.2
-
-

0.2
0.4
0.2
-0.5
0.0
0.2
0.0
0.2
0.3
0.1
0.1
0.1
0.2
-0.1
-
-

HICP growth rates - All items (t/t-1)

EU-27

06m08 06m09

06m10

06m11

06m12 07m01 07m02

07m03

07m04

07m05

07m06 07m07

-0.8
0.0
0.7
-0.8
-0.1
-0.2
-0.2
0.3
-0.1
-0.1
-0.3
-0.3
-0.6
-0.2
-
-

1.0

0.5

0.0

-0.5

-1.0

161

EUROSTATISTICS

3.5.2.b

Harmonized indices of consumer prices
All items

Percentage change on the corresponding period of the previous year (t/t-12)

Non-seasonally adjusted data

2006

2007

06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

3.0

2.5

2.0

1.5

1.0

0.5

0.0

2.3
2.4
2.3
7.0
2.6
1.9
1.8
5.0
3.2
3.4
3.8
2.1
2.3
2.7
6.8
4.3

1.7
2.0
1.9
5.4
2.2
1.5
1.0
3.8
2.2
3.1
2.9
1.5
2.4
2.2
5.9
3.3

1.6
1.8
1.7
5.2
0.8
1.4
1.1
3.8
2.2
3.1
2.6
1.2
1.9
1.7
5.6
3.7

1.8
2.1
2.0
5.9
1.0
1.8
1.5
4.7
2.4
3.2
2.7
1.6
2.0
1.3
6.3
4.4

1.9
2.2
2.1
6.1
1.5
1.7
1.4
5.1
3.0
3.2
2.7
1.7
2.1
1.5
6.8
4.5

1.8
2.1
1.7
6.8
1.4
1.8
1.8
5.0
2.9
3.0
2.4
1.4
1.9
1.4
7.1
4.0

1.9
2.2
1.8
4.6
1.7
1.9
1.9
4.6
2.6
3.0
2.5
1.2
2.1
1.2
7.2
4.4

1.9
2.3
1.8
4.4
2.1
1.9
2.0
5.6
2.9
2.8
2.5
1.2
2.1
1.4
8.5
4.8

1.9
2.2
1.8
4.4
2.7
1.7
2.0
5.6
2.9
2.6
2.5
1.3
1.8
1.6
8.8
4.9

1.9
2.1
1.3
4.5
2.4
1.7
2.0
5.9
2.7
2.6
2.4
1.2
1.9
1.9
7.8
5.0

1.9
2.2
1.3
5.3
2.6
1.3
2.0
6.0
2.8
2.6
2.5
1.3
1.9
1.7
8.9
5.0

HICP growth rates - All items (t/t-12)

EA-13

1.8
2.0
1.3
6.8
2.5
1.1
2.0
6.5
2.7
2.7
2.3
1.2
1.7
2.3
9.5
5.1

3.0

2.5

2.0

1.5

1.0

0.5

0.0

06m08

06m09

06m10

06m11

06m12

07m01

07m02

07m03

07m04

07m05 07m06

07m07

Harmonised Indices of Consumer Prices (HICPs) are used in the assessment of inflation convergence as required under Article
109j of the Treaty on European Union.
The HICP aims at measuring “pure” price changes and should be unaffected by changes in quality of products.
The common classification for Harmonized Indices of Consumer Prices is the COICOP (Classification Of Individual
COnsumption by Purpose). A version of this classification (COICOP/HICP) has been specially adapted for the HICPs.

162

DETAILED TABLES

3.5.2.b

Harmonized indices of consumer prices (continued)
All items

Percentage change on the corresponding period of the previous year (t/t-12)

Non-seasonally adjusted data

2006

2007

06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

3.0

2.5

2.0

1.5

1.0

0.5

0.0

3.1
4.7
3.0
1.9
2.1
1.7
2.7
6.1
3.1
5.0
1.3
1.6
2.5
2.1
-
-

2.0
5.9
3.1
1.5
1.3
1.4
3.0
5.5
2.5
4.5
0.8
1.2
2.4
3.0
-
-

0.6
6.3
1.7
1.3
1.3
1.1
2.6
4.8
1.5
3.1
0.9
1.2
2.4
3.0
-
-

1.8
6.4
0.9
1.6
1.6
1.3
2.4
4.7
2.4
3.7
1.3
1.5
2.7
2.8
-
-

2.3
6.6
0.8
1.7
1.6
1.4
2.5
4.9
3.0
3.7
1.2
1.4
3.0
2.2
-
-

2.3
8.4
1.2
1.2
1.7
1.6
2.6
4.1
2.8
2.2
1.3
1.6
2.7
1.2
-
-

1.8
9.0
0.8
1.4
1.7
1.9
2.3
3.9
2.3
2.0
1.2
1.7
2.8
0.8
-
-

2.4
9.0
0.5
1.9
1.9
2.4
2.4
3.7
2.6
2.1
1.6
1.6
3.1
1.3
-
-

2.5
8.7
-1.1
1.9
1.8
2.2
2.8
3.8
2.9
2.0
1.5
1.6
2.8
0.5
-
-

2.3
8.4
-1.0
2.0
1.9
2.3
2.4
3.9
3.1
1.5
1.3
1.2
2.5
0.6
-
-

2.3
8.5
-0.6
1.8
1.9
2.6
2.4
3.9
3.8
1.5
1.4
1.3
2.4
0.7
-
-

HICP growth rates - All items (t/t-12)

EU-27

06m08

06m09

06m10

06m11

06m12

07m01

07m02

07m03

07m04

07m05

07m06

07m07

2.0
8.3
-0.2
1.4
2.0
2.5
2.3
4.1
4.0
1.2
1.6
1.4
1.9
0.7
-
-

3.0

2.5

2.0

1.5

1.0

0.5

0.0

163

EUROSTATISTICS

3.5.3

Consumers: Price trend over the next 12 months
Seasonally adjusted data

2006

2007

Balance

06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07 07m08

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

24.0
22.8
16.1
45.8
32.2
7.1
46.5
45.5
31.0
36.1
23.1
17.3
-9.4
9.9
50.3
61.1

25.8
23.3
15.3
47.7
23.5
0.6
51.6
39.1
38.4
27.2
24.2
16.9
-4.8
23.3
60.1
62.7

27.8
26.2
23.2
52.3
28.0
1.9
51.5
44.2
35.9
35.1
26.0
18.3
-1.9
20.1
62.2
61.0

26.9
25.8
23.0
54.4
27.4
5.9
52.9
41.9
31.9
28.8
26.9
19.2
-8.9
24.2
60.8
59.0

23.0
23.0
20.5
52.1
30.7
2.6
42.2
38.1
32.9
35.5
24.1
16.0
-8.9
26.0
58.5
56.5

20.1
20.1
21.0
46.2
21.1
6.0
30.3
37.6
38.1
35.6
24.9
14.4
-3.6
29.8
56.3
56.8

18.4
19.0
21.2
48.5
23.2
-1.5
24.8
40.0
37.6
35.3
25.5
14.5
-3.6
29.6
52.0
57.3

17.4
18.3
24.0
43.8
42.7
4.4
22.2
37.5
29.4
37.8
25.8
14.8
-5.7
33.1
50.8
56.2

16.8
18.1
22.1
40.9
43.8
6.3
21.1
37.7
17.5
42.7
21.2
8.1
1.4
38.9
55.6
57.0

19.3
19.9
27.0
41.2
37.6
3.3
19.1
51.9
19.9
38.8
28.7
16.3
3.6
44.5
55.9
58.8

18.7
20.2
25.5
47.0
44.6
8.5
16.7
53.0
23.0
41.1
25.4
20.2
3.5
33.3
56.2
59.6

Source: DG ECFIN

Price trend over the next 12 months balance

EA-13

30.0
25.0
20.0
15.0
10.0
5.0
0.0

06m09

06m10

06m11

06m12

07m01

07m02

07m03 07m04

07m05

07m06 07m07

07m08

26.0
25.9
37.5
53.4
49.7
6.7
35.9
55.7
13.3
38.0
24.9
:
6.9
40.5
62.1
61.1

30.0
25.0
20.0
15.0
10.0
5.0
0.0

Price trend over the next 12 months
Consumer  surveys  are  qualitative  economic  surveys,  intented  for  short-term  economic  analysis.  They  are  a  complement  of
quantitative statistical surveys.
The price trend over the next 12 months indicates if there will be a more rapid increase in prices, at the same rate, at a slower
rate,  if  prices  stay  stable  or  will  fall  slightly.  Answers  are  given  as  a  balance  between  the  percentage  positive  and  negative
responses.

164

DETAILED TABLES

3.5.3

Consumers: Price trend over the next 12 months (continued)
Seasonally adjusted data

2006

2007

Balance

06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07 07m08

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

22.0
69.4
31.5
25.0
29.1
36.1
32.3
48.5
50.3
23.6
27.8
16.9
15.2
-
-
-

18.1
69.3
28.1
21.9
23.4
25.4
31.8
51.2
52.5
25.9
21.9
20.5
12.6
-
-
-

25.1
73.9
20.7
29.5
27.3
37.0
33.1
53.5
48.0
19.1
25.7
26.0
17.5
-
-
-

24.9
74.3
21.8
26.4
29.7
26.2
32.6
54.2
54.0
7.7
26.4
29.6
19.3
-
-
-

31.1
75.5
21.8
23.7
32.3
26.9
41.8
31.8
37.2
7.2
27.3
26.9
20.6
-
-
-

26.0
70.8
29.8
26.9
29.6
28.7
34.1
29.5
26.7
16.4
25.8
25.7
16.3
-
-
-

25.8
66.2
34.1
23.6
30.6
28.9
33.1
35.7
25.0
20.1
25.9
33.4
16.1
-
-
-

25.3
63.8
31.0
28.4
34.9
21.1
27.8
32.5
31.3
16.8
25.4
28.8
16.4
-
-
-

23.7
59.0
33.3
28.3
38.3
34.4
27.1
31.7
26.4
24.2
25.2
29.2
16.0
-
-
-

29.8
58.1
33.5
30.9
39.2
28.1
28.4
33.8
16.4
21.7
28.3
32.5
16.9
-
-
-

25.6
58.1
33.0
23.8
37.8
26.7
30.0
36.5
24.7
29.0
31.3
44.3
19.2
-
-
-

Source: DG ECFIN

Price trend over the next 12 months balance

EU-27

30.0
25.0
20.0
15.0
10.0
5.0
0.0

06m09

06m10

06m11

06m12

07m01

07m02

07m03

07m04

07m05 07m06

07m07

07m08

44.1
62.1
:
32.6
43.7
27.7
30.8
48.6
32.0
31.4
32.5
40.3
21.3
-
-
-

30.0
25.0
20.0
15.0
10.0
5.0
0.0

165

EUROSTATISTICS

3.5.4.a

Producer prices
Percentage change on previous period (t/t-1)

Seasonally adjusted data

2006

2007

06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

0.8

0.4

0.0

-0.4

-0.8

0.1
0.2
0.0
0.3
0.3
2.8
0.2
:
0.3
0.3
0.2
0.3
0.2
0.4
:
0.7

-0.5
-0.7
0.4
0.7
-0.2
-2.1
-0.3
:
0.0
-1.5
-0.7
-0.6
-0.8
-0.1
:
-1.5

0.0
0.3
0.1
-0.7
0.0
-1.9
0.3
:
-0.6
-0.7
-0.4
0.1
0.3
-0.1
:
0.1

0.0
0.4
0.4
0.1
-0.2
-2.0
0.0
:
-0.3
-0.5
0.0
-0.1
0.1
-1.0
:
0.0

0.0
0.0
-0.1
0.6
0.0
-1.3
0.0
:
0.4
0.0
0.0
-0.1
0.2
0.0
:
0.0

0.2
-0.1
0.1
-0.8
1.1
-2.9
0.0
:
0.5
-0.6
0.6
0.1
0.0
-0.2
:
2.2

0.3
0.3
0.1
0.1
0.4
1.2
0.3
:
-0.4
0.6
0.6
0.4
0.4
1.1
:
0.5

0.4
0.3
0.2
1.4
0.5
-0.7
0.3
:
0.2
1.1
0.6
0.3
0.4
-0.2
:
0.8

0.5
0.1
-0.1
1.9
0.6
1.8
0.1
:
0.4
1.9
0.5
0.5
0.5
0.7
:
1.7

0.3
0.3
0.2
0.7
0.5
0.6
0.3
:
0.2
0.4
0.5
0.2
0.4
1.4
:
1.9

0.1
0.2
0.1
1.3
0.7
2.3
0.2
:
0.4
0.2
0.2
0.2
0.1
0.2
:
-0.4

Producer prices growth rates (t/t-1)

EA-13

0.3
0.3
0.2
2.1
0.2
-0.1
-0.1
:
0.3
0.5
0.3
c
0.4
0.2
:
0.8

0.8

0.4

0.0

-0.4

-0.8

06m08

06m09

06m10

06m11

06m12

07m01

07m02

07m03

07m04

07m05 07m06

07m07

Producer prices is a business cycle indicator showing the monthly development of transaction prices of economic activities.

Further Metadata in SDDS format can be easily accessed from the new Euro Indicators’ website:
http://www.europa.eu.int/comm/eurostat/newcronos/info/notmeth/en/theme1/euroind/is/is.htm

166

DETAILED TABLES

3.5.4.a

Producer prices (continued)
Percentage change on previous period (t/t-1)

Seasonally adjusted data

2006

2007

06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

1.2

0.8

0.4

0.0

-0.4

-0.8

0.4
3.1
:
-0.7
0.4
0.3
0.4
1.1
-0.2
0.6
0.6
1.3
-0.2
2.7
:
:

0.1
0.9
:
-0.5
-0.2
-0.4
-0.3
0.2
0.6
-0.7
0.7
-0.2
-1.7
-2.4
:
:

0.4
-0.1
:
-0.4
0.0
-0.3
-1.5
0.3
0.1
0.1
0.0
0.5
1.6
-2.1
:
:

0.4
-0.5
:
0.2
0.5
-0.3
0.0
0.8
0.0
0.4
0.3
0.2
2.5
-1.4
:
:

-1.5
-0.1
:
-0.3
-0.2
-0.3
0.0
0.8
0.6
-0.8
-0.2
-0.7
0.5
-1.5
:
:

0.7
0.7
:
1.5
1.2
0.7
1.5
0.3
0.5
-0.4
0.2
0.9
-1.5
-3.0
:
:

0.4
0.6
:
-0.2
0.2
0.4
0.3
-0.2
2.1
1.7
0.2
0.8
-0.2
1.2
:
:

1.0
0.6
:
0.3
1.5
0.6
0.2
0.9
0.4
0.0
0.1
0.2
0.1
-0.1
:
:

2.0
0.2
:
1.8
0.1
0.6
1.3
1.3
0.2
-0.3
0.4
0.5
-2.0
1.2
:
:

1.2
0.4
:
0.4
0.3
0.6
0.4
0.7
0.3
-0.1
0.4
-0.4
0.2
0.2
:
:

1.4
0.3
:
-0.8
0.2
0.7
0.4
-0.1
0.4
0.3
0.1
0.3
0.6
1.8
:
:

Producer prices growth rates (t/t-1)

EU-27

06m08

06m09

06m10

06m11

06m12

07m01

07m02

07m03 07m04 07m05 07m06

07m07

0.6
0.1
:
0.9
:
0.4
0.2
0.4
0.1
0.5
0.2
0.0
0.6
-0.7
:
:

1.2

0.8

0.4

0.0

-0.4

-0.8

167

EUROSTATISTICS

3.5.4.b

Producer prices
Percentage change on the corresponding period of the previous year (t/t-12)

Non-seasonally adjusted data

2006

2007

06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

8.0

6.0

4.0

2.0

0.0

5.7
6.3
5.8
10.8
2.7
11.0
5.9
:
1.8
7.7
5.7
4.0
6.6
3.9
:
7.4

4.6
5.1
6.2
10.1
2.3
7.1
5.1
:
1.6
4.6
4.2
2.8
5.5
3.5
:
4.8

4.0
4.4
5.9
8.5
1.9
4.4
4.6
:
0.5
3.0
3.4
2.6
4.9
3.3
:
4.1

4.3
4.1
6.2
8.1
2.0
1.2
4.7
:
0.2
3.4
3.6
2.7
5.3
2.1
:
5.5

4.1
3.5
5.3
8.0
2.6
1.5
4.4
:
0.5
2.7
3.6
2.7
5.2
1.9
:
5.8

3.1
2.4
4.0
7.7
2.8
-2.4
3.2
:
1.1
0.4
2.7
1.8
4.0
2.3
:
5.3

2.9
2.4
3.7
6.2
3.0
-3.1
2.8
:
0.3
0.6
2.5
2.2
4.0
3.0
:
5.3

2.8
2.4
3.1
7.8
3.5
-4.8
2.5
:
0.2
1.1
2.8
2.1
3.8
2.7
:
6.3

2.4
2.0
2.3
7.9
3.7
-2.8
1.6
:
0.5
1.6
2.7
1.9
3.3
3.0
:
7.7

2.4
2.2
2.2
5.5
4.0
-0.7
1.9
:
0.7
1.9
2.4
1.8
3.0
3.1
:
9.7

2.2
2.3
1.5
6.5
4.5
-0.6
1.7
:
1.0
2.0
2.6
1.9
2.7
3.1
:
8.0

Producer prices growth rates (t/t-12)

EA-13

1.8
1.7
1.6
7.7
4.1
-2.4
1.1
:
1.3
1.7
2.3
c
2.1
2.5
:
6.9

8.0

6.0

4.0

2.0

0.0

06m08

06m09

06m10

06m11

06m12 07m01 07m02

07m03

07m04 07m05

07m06

07m07

Producer prices is a business cycle indicator showing the monthly development of transaction prices of economic activities.

Further Metadata in SDDS format can be easily accessed from the new Euro Indicators’ website:
http://www.europa.eu.int/comm/eurostat/newcronos/info/notmeth/en/theme1/euroind/is/is.htm

168

DETAILED TABLES

3.5.4.b

Producer prices (continued)
Percentage change on the corresponding period of the previous year (t/t-12)

Non-seasonally adjusted data

2006

2007

06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

8.0

6.0

4.0

2.0

0.0

16.8
11.1
:
8.2
2.2
4.0
4.9
12.9
2.5
8.8
6.0
7.1
8.4
10.2
:
:

14.4
11.4
:
6.2
1.6
3.6
4.3
12.3
2.8
7.5
6.1
6.3
6.2
8.1
:
:

14.7
10.6
:
4.5
1.1
3.2
2.7
10.9
2.7
7.1
5.9
6.3
5.4
6.0
:
:

16.1
9.4
:
5.2
2.5
3.0
3.3
11.0
2.6
5.6
6.1
5.8
2.6
5.6
:
:

14.3
9.2
:
4.2
2.1
3.1
3.4
12.7
2.9
5.4
5.9
4.5
0.4
3.6
:
:

9.9
8.6
:
3.1
4.0
3.5
2.9
11.3
3.4
3.5
5.6
4.2
-1.4
-3.4
:
:

8.6
8.8
:
2.5
3.9
4.0
2.4
9.6
5.0
3.8
5.0
4.6
-1.0
-2.6
:
:

8.7
8.6
:
2.8
4.8
4.1
2.2
10.3
4.9
3.1
4.2
4.0
-0.4
-4.3
:
:

10.0
8.0
:
4.0
4.4
3.0
2.8
9.5
4.8
2.2
3.8
4.1
-1.0
-4.7
:
:

9.0
7.8
:
4.5
4.1
3.3
2.1
8.4
5.0
1.2
3.5
4.3
0.2
-2.0
:
:

9.4
7.2
:
3.0
4.3
3.4
2.5
7.0
5.1
1.3
3.4
4.0
1.4
-0.9
:
:

Producer prices growth rates (t/t-12)

EU-27

06m08 06m09

06m10

06m11

06m12 07m01

07m02

07m03

07m04

07m05

07m06

07m07

7.5
6.2
:
2.2
:
2.9
2.7
6.7
5.1
1.2
2.8
3.5
0.4
-4.1
:
:

8.0

6.0

4.0

2.0

0.0

169

EUROSTATISTICS

3.5.5.a

Unit value indices - Extra euro area
Export of total products

Percentage change on previous period (t/t-1)

Non-seasonally adjusted data

2006

2007

06m07 06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

1.0

0.5

0.0

-0.5

0.1
-
1.2
-
-
-
-0.4
-
-2.3
0.8
0.9
-0.1
0.5
-
-
-

0.2
-
0.3
-
-
-
0.1
-
-2.0
2.8
0.3
0.4
1.8
-
-
-

-0.1
-
0.3
-
-
-
0.3
-
1.8
-2.4
-1.9
-0.1
-1.2
-
-
-

0.2
-
0.5
-
-
-
0.2
-
3.1
-0.8
1.9
-1.0
-0.4
-
-
-

0.4
-
1.3
-
-
-
0.4
-
1.8
-0.3
-0.9
0.1
1.0
-
-
-

0.0
-
-3.3
-
-
-
0.0
-
-2.2
0.3
-0.4
2.0
-0.5
-
-
-

0.1
-
1.6
-
-
-
-0.1
-
3.7
-1.4
-0.3
-0.9
0.6
-
-
-

0.7
-
0.2
-
-
-
0.6
-
-1.3
0.8
2.8
1.0
1.0
-
-
-

0.3
-
-0.2
-
-
-
1.1
-
-5.1
2.4
-0.7
-0.8
0.6
-
-
-

0.7
-
1.2
-
-
-
-0.1
-
5.7
-1.2
0.5
0.6
0.5
-
-
-

0.3
-
0.3
-
-
-
0.3
-
2.9
1.4
0.2
0.3
0.4
-
-
-

Unit value indices growth rates - Exports (t/t-1)

EA-13

:
-
1.3
-
-
-
-0.8
-
-1.5
:
0.8
-1.4
:
-
-
-

1.0

0.5

0.0

-0.5

06m07

06m08

06m09

06m10

06m11

06m12

07m01

07m02

07m03

07m04

07m05

Unit value index of exports is the growth rate of the unit value index of exports in the current month as compared with the same
month of the previous year.

Further Metadata in SDDS format can be easily accessed from the new Euro Indicators’ website:
http://www.europa.eu.int/comm/eurostat/newcronos/info/notmeth/en/theme1/euroind/et/et.htm

170

DETAILED TABLES

3.5.5.a

Unit value indices - Extra euro area (continued)
Exports of total products

Percentage change on previous period (t/t-1)

Non-seasonally adjusted data

2006

2007

06m07 06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06

3.1
-
-
0.7
0.8
-
2.1
-
0.0
-
0.5
-
-
-
-
-

1.2
-
-
-2.0
0.7
-
1.1
-
0.7
-
0.3
-
-
-
-
-

6.7
-
-
0.6
-1.5
-
-2.5
-
-0.6
-
-0.6
-
-
-
-
-

3.5
-
-
0.5
0.6
-
-0.3
-
0.5
-
0.6
-
-
-
-
-

-6.3
-
-
-0.7
0.0
-
-0.5
-
-0.9
-
0.5
-
-
-
-
-

3.0
-
-
1.0
0.2
-
1.1
-
2.4
-
0.0
-
-
-
-
-

-2.8
-
-
0.5
0.7
-
-4.5
-
-0.5
-
-0.3
-
-
-
-
-

-0.4
-
-
0.4
-0.2
-
1.0
-
-0.5
-
1.8
-
-
-
-
-

-2.1
-
-
0.0
0.0
-
1.7
-
0.5
-
2.3
-
-
-
-
-

-3.1
-
-
1.1
0.9
-
0.0
-
2.0
-
1.4
-
-
-
-
-

3.8
-
-
0.0
-0.2
-
2.8
-
-1.8
-
-0.9
-
-
-
-
-

4.3
-
-
1.3
-0.1
-
-3.2
-
4.5
-
0.5
-
-
-
-
-

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

171

EUROSTATISTICS

3.5.5.b

Unit value indices - Extra euro area
Exports of total products

Percentage change on the corresponding period of the previous year (t/t-12)

Non-seasonally adjusted data

2006

2007

06m07 06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06

EA-13
EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV
LT

5.0

4.0

3.0

2.0

1.0

0.0

3.0
-
5.2
-
-
-
2.3
-
-0.5
8.7
3.7
3.1
3.5
-
-
-

2.8
-
5.2
-
-
-
1.7
-
-3.3
7.9
3.7
3.4
4.7
-
-
-

2.8
-
3.1
-
-
-
2.2
-
3.1
5.8
1.1
3.1
3.5
-
-
-

2.3
-
0.6
-
-
-
2.2
-
0.5
2.7
3.0
1.9
3.5
-
-
-

3.1
-
2.7
-
-
-
3.0
-
4.9
4.7
2.8
2.3
4.7
-
-
-

2.1
-
-0.6
-
-
-
2.0
-
-4.2
4.2
1.6
2.7
3.6
-
-
-

1.1
-
0.1
-
-
-
1.1
-
0.6
1.3
0.9
0.5
2.3
-
-
-

2.1
-
1.6
-
-
-
1.3
-
7.6
2.5
3.1
0.6
4.3
-
-
-

1.7
-
0.2
-
-
-
2.6
-
-7.7
5.3
2.1
-0.1
4.3
-
-
-

2.6
-
1.8
-
-
-
2.7
-
2.1
1.4
3.4
0.5
4.8
-
-
-

2.9
-
1.8
-
-
-
2.4
-
8.0
1.3
2.1
1.8
4.6
-
-
-

Unit value indices growth rates - Exports (t/t-12)

EA-13

:
-
4.5
-
-
-
1.6
-
4.2
:
3.1
0.1
:
-
-
-

5.0

4.0

3.0

2.0

1.0

0.0

06m07

06m08

06m09

06m10

06m11

06m12

07m01

07m02

07m03

07m04

07m05

Unit value index of exports is the growth rate of the unit value index of exports in the current month as compared with the same
month of the previous year.

Further Metadata in SDDS format can be easily accessed from the new Euro Indicators’ website:
http://www.europa.eu.int/comm/eurostat/newcronos/info/notmeth/en/theme1/euroind/et/et.htm

172

DETAILED TABLES

3.5.5.b

Unit value indices - Extra euro area (continued)
Exports of total products

Percentage change on the corresponding period of the previous year (t/t-12)

Non-seasonally adjusted data

2006

2007

06m07 06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06

-2.9
-
-
3.8
3.3
-
6.4
-
1.9
-
5.0
-
-
-
-
-

-1.5
-
-
1.9
3.2
-
5.3
-
3.1
-
7.0
-
-
-
-
-

1.8
-
-
3.3
2.7
-
2.3
-
2.3
-
5.1
-
-
-
-
-

6.8
-
-
2.7
2.1
-
2.4
-
4.1
-
5.6
-
-
-
-
-

0.3
-
-
1.7
2.3
-
0.6
-
1.1
-
7.6
-
-
-
-
-

6.0
-
-
2.3
2.3
-
2.9
-
2.6
-
6.4
-
-
-
-
-

2.4
-
-
0.3
1.7
-
-0.7
-
2.2
-
3.5
-
-
-
-
-

1.5
-
-
2.0
1.7
-
-0.6
-
1.0
-
7.8
-
-
-
-
-

-2.1
-
-
1.5
1.0
-
1.0
-
0.6
-
7.7
-
-
-
-
-

-6.2
-
-
1.9
2.7
-
-1.4
-
0.7
-
6.7
-
-
-
-
-

-3.5
-
-
1.8
2.6
-
2.8
-
0.8
-
8.3
-
-
-
-
-

10.6
-
-
3.4
1.7
-
-1.5
-
6.4
-
6.2
-
-
-
-
-

LU
HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US
JP

173

EUROSTATISTICS

3.5.5.c

Unit value indices - Extra euro area
Imports of total products

Percentage change on previous period (t/t-1)

Non-seasonally adjusted data

2006

2007

06m07 06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

3.0

2.0

1.0

0.0

-1.0

-2.0

-3.0

2.3
-
1.3
-
-
-
0.9
-
0.9
2.8
3.8
2.4
2.3
-
-
-

1.3
-
-0.1
-
-
-
1.4
-
0.6
2.0
1.2
0.7
3.5
-
-
-

-2.1
-
-1.4
-
-
-
-0.5
-
-0.7
-4.9
-1.9
-3.7
-4.8
-
-
-

-2.0
-
-1.0
-
-
-
-3.0
-
2.4
-3.7
-2.2
-1.3
-2.3
-
-
-

-0.1
-
2.4
-
-
-
-0.4
-
-2.8
-0.8
-1.1
0.7
0.6
-
-
-

0.5
-
-1.7
-
-
-
1.5
-
4.1
2.2
1.1
-0.4
0.5
-
-
-

-0.8
-
-0.1
-
-
-
0.0
-
-2.8
-7.3
1.2
-2.0
-1.3
-
-
-

0.3
-
1.2
-
-
-
-0.9
-
3.7
1.5
-1.1
0.9
0.3
-
-
-

0.6
-
0.3
-
-
-
0.2
-
-2.4
6.8
1.3
0.2
0.8
-
-
-

0.8
-
-1.8
-
-
-
0.4
-
0.7
-2.7
1.9
1.5
2.1
-
-
-

0.0
-
0.6
-
-
-
0.6
-
-2.3
0.2
-1.8
-0.4
-0.3
-
-
-

Unit value indices growth rates - Imports (t/t-1)

EA-13

:
-
0.1
-
-
-
-1.6
-
-0.7
:
2.6
0.5
:
-
-
-

3.0

2.0

1.0

0.0

-1.0

-2.0

-3.0

06m07

06m08

06m09

06m10

06m11

06m12

07m01

07m02

07m03

07m04

07m05

Unit value index of imports is the growth rate of the unit value index of imports in the current month as compared with the
same month of the previous year.

Further Metadata in SDDS format can be easily accessed from the new Euro Indicators’ website:
http://www.europa.eu.int/comm/eurostat/newcronos/info/notmeth/en/theme1/euroind/et/et.htm

174

DETAILED TABLES

3.5.5.c

Unit value indices - Extra euro area (continued)
Imports of total products

Percentage change on previous period (t/t-1)

Non-seasonally adjusted data

2006

2007

06m07 06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06

3.8
-
-
4.7
1.7
-
5.1
-
1.7
-
1.2
-
-
-
-
-

-1.4
-
-
1.4
0.6
-
3.8
-
-0.4
-
1.7
-
-
-
-
-

0.7
-
-
-2.5
-1.6
-
-6.5
-
-0.4
-
-1.8
-
-
-
-
-

-2.8
-
-
-1.6
-1.0
-
-0.7
-
1.8
-
-1.4
-
-
-
-
-

2.0
-
-
-0.6
0.1
-
-2.5
-
-1.9
-
0.7
-
-
-
-
-

-6.8
-
-
-0.4
-0.2
-
0.5
-
2.1
-
-0.8
-
-
-
-
-

10.8
-
-
-1.1
-1.4
-
-3.1
-
-1.6
-
-0.6
-
-
-
-
-

6.6
-
-
0.4
0.4
-
5.0
-
0.9
-
2.4
-
-
-
-
-

-6.6
-
-
2.0
0.8
-
-2.2
-
0.9
-
-0.2
-
-
-
-
-

-8.1
-
-
1.0
-0.4
-
3.7
-
0.1
-
1.5
-
-
-
-
-

-12.6
-
-
1.5
0.5
-
-0.3
-
-0.5
-
-0.7
-
-
-
-
-

3.1
-
-
1.2
-0.8
-
2.8
-
2.3
-
3.5
-
-
-
-
-

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

175

EUROSTATISTICS

3.5.5.d

Unit value indices - Extra euro area
Imports of total products

Percentage change on the corresponding period of the previous year (t/t-12)

Non-seasonally adjusted data

2006

2007

06m07 06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06

6.6
-
5.4
-
-
-
6.7
-
3.6
12.3
7.8
5.1
8.9
-
-
-

6.1
-
4.1
-
-
-
7.5
-
3.1
8.3
6.4
4.1
8.7
-
-
-

4.1
-
2.9
-
-
-
5.6
-
2.1
5.7
5.0
1.4
4.5
-
-
-

1.8
-
1.6
-
-
-
1.3
-
4.9
1.4
3.9
1.0
2.5
-
-
-

1.8
-
-2.0
-
-
-
2.3
-
0.0
-0.2
2.2
1.4
3.2
-
-
-

0.9
-
-5.0
-
-
-
2.2
-
4.2
-0.1
1.9
0.5
3.0
-
-
-

-1.1
-
-3.6
-
-
-
1.0
-
0.2
-8.9
0.7
-2.3
0.2
-
-
-

-0.7
-
-2.3
-
-
-
-0.6
-
3.3
-7.3
0.3
-2.4
0.3
-
-
-

-0.9
-
-4.1
-
-
-
-0.6
-
0.3
-1.8
1.1
-3.0
-0.3
-
-
-

-0.4
-
-1.1
-
-
-
-0.9
-
0.7
-5.7
2.8
-1.6
1.9
-
-
-

-0.8
-
-0.8
-
-
-
-0.2
-
0.8
-6.9
0.7
-3.4
-0.6
-
-
-

Unit value indices growth rates - Imports (t/t-12)

EA-13

:
-
-0.4
-
-
-
-1.4
-
0.4
:
4.9
-1.1
:
-
-
-

10.0

8.0

6.0

4.0

2.0

0.0

-2.0

06m07

06m08

06m09

06m10

06m11

06m12

07m01

07m02

07m03

07m04

07m05

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

10.0

8.0

6.0

4.0

2.0

0.0

-2.0

176

DETAILED TABLES

3.5.5.d

Unit value indices - Extra euro area (continued)
Imports of total products

Percentage change on the corresponding period of the previous year (t/t-12)

Non-seasonally adjusted data

2006

2007

06m07 06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06

-0.9
-
-
5.7
4.6
-
12.9
-
7.9
-
6.3
-
-
-
-
-

6.4
-
-
4.1
5.4
-
10.9
-
4.0
-
6.3
-
-
-
-
-

7.4
-
-
3.2
2.4
-
3.4
-
5.2
-
6.5
-
-
-
-
-

0.6
-
-
0.8
1.6
-
0.9
-
7.1
-
6.0
-
-
-
-
-

0.2
-
-
1.6
2.6
-
4.8
-
2.1
-
6.2
-
-
-
-
-

-5.9
-
-
-1.7
0.4
-
2.3
-
4.0
-
3.0
-
-
-
-
-

8.6
-
-
-3.8
-1.2
-
-2.6
-
2.6
-
-0.7
-
-
-
-
-

6.5
-
-
-1.2
-0.9
-
0.5
-
3.7
-
3.6
-
-
-
-
-

-1.3
-
-
-0.5
-0.1
-
-1.6
-
4.6
-
1.8
-
-
-
-
-

-10.0
-
-
-1.4
-0.5
-
0.8
-
3.7
-
2.3
-
-
-
-
-

-17.9
-
-
0.5
-0.7
-
-1.7
-
2.8
-
1.5
-
-
-
-
-

-13.0
-
-
5.9
-1.3
-
5.2
-
5.1
-
5.6
-
-
-
-
-

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

177

EUROSTATISTICS

3.5.6.a

Unit value indices - Extra EU-27
Exports of total products

Percentage change on previous period (t/t-1)

Non-seasonally adjusted data

2006

2007

06m07 06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

1.0

0.5

0.0

-0.5

-1.0

-
0.1
1.3
2.8
1.0
-0.2
-0.5
-0.8
-2.4
-0.9
1.3
0.0
0.7
8.7
-0.5
0.3

-
-0.3
0.1
-4.0
1.5
-2.8
-0.2
-2.0
-5.2
2.9
0.4
-0.1
1.9
-0.5
2.2
3.3

-
0.0
-0.4
-4.4
-2.4
-1.5
0.8
-2.7
3.1
-2.8
-3.2
0.2
-1.0
2.8
-2.5
-3.6

-
0.1
0.4
2.7
1.7
2.1
0.4
-1.8
6.2
-2.9
2.3
-1.6
-1.0
-11.2
1.2
-3.6

-
0.4
2.6
3.1
2.0
0.5
0.4
1.6
0.6
0.8
-1.2
0.3
1.1
4.4
2.0
0.6

-
-0.3
-5.1
-3.7
-1.2
0.0
0.0
1.9
-4.9
0.4
-0.5
2.8
-0.8
-3.9
-0.2
-0.6

-
0.1
3.3
4.0
-1.7
-3.4
-0.6
0.4
7.9
-2.0
-1.4
-2.0
0.2
2.1
0.8
3.0

-
0.3
-1.2
0.6
1.3
3.9
0.6
1.6
-4.7
1.5
3.5
1.4
1.1
-4.4
2.9
1.0

-
0.7
-0.5
2.6
1.1
0.4
1.5
1.6
-4.1
3.1
-1.1
-1.4
0.8
6.4
-3.8
-0.2

-
0.6
1.8
5.4
0.1
1.1
-0.1
-0.6
5.1
0.2
1.5
1.4
0.6
-5.5
2.6
2.0

-
0.4
-0.4
0.4
-1.1
-1.7
-0.1
0.7
0.7
0.1
0.6
0.0
0.5
5.7
2.9
3.7

Unit value indices growth rates - Exports (t/t-1)

EU-27

-
0.1
2.5
-5.2
0.7
1.2
-0.6
3.5
3.0
-2.4
1.2
-0.5
1.5
-1.2
-1.0
2.4

1.0

0.5

0.0

-0.5

-1.0

06m07

06m08

06m09

06m10 06m11

06m12

07m01

07m02

07m03

07m04

07m05

07m06

Unit value index of exports is the growth rate of the unit value index of exports in the current month as compared with the same
month of the previous year.

Further Metadata in SDDS format can be easily accessed from the new Euro Indicators’ website:
http://www.europa.eu.int/comm/eurostat/newcronos/info/notmeth/en/theme1/euroind/et/et.htm

178

DETAILED TABLES

3.5.6.a

Unit value indices - Extra EU-

27

 (continued)

Exports of total products

Percentage change on previous period (t/t-1)

Non-seasonally adjusted data

2006

2007

06m07 06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06

2.3
6.5
-4.5
-0.2
0.6
2.8
2.9
7.6
-0.6
-6.6
-0.5
2.0
0.0
-
-
-

0.6
-5.1
3.2
-2.4
1.1
0.8
1.4
-2.6
0.8
3.7
-0.2
-2.4
0.2
-
-
-

0.3
-1.0
-0.9
0.8
-1.8
-1.8
-3.9
-5.9
-1.0
-0.2
0.2
-0.3
1.1
-
-
-

1.9
3.7
5.8
0.4
0.8
1.9
-0.5
0.6
1.1
-2.5
0.6
1.4
-2.3
-
-
-

-0.4
0.7
-5.7
-0.8
-0.1
2.0
-0.8
1.4
-1.4
1.9
1.5
0.6
-0.4
-
-
-

-1.8
-1.7
1.0
-1.0
0.8
-1.4
0.9
0.1
1.7
-1.6
0.1
-1.5
0.4
-
-
-

3.6
2.0
5.4
1.5
0.8
-2.5
-6.4
-2.9
0.6
3.4
-2.0
0.3
1.5
-
-
-

0.0
-0.5
3.1
0.9
-0.7
1.9
1.9
2.5
0.4
0.6
2.2
-0.8
-3.3
-
-
-

-2.2
2.4
-0.1
0.7
-1.1
1.0
2.3
3.0
-0.1
-2.5
2.7
0.2
3.4
-
-
-

-3.8
1.1
-4.5
1.8
1.4
1.4
0.4
3.3
2.3
0.0
0.9
0.6
-1.8
-
-
-

2.4
-3.1
4.2
0.5
-0.4
-1.4
3.0
1.2
-1.9
0.7
0.8
-0.3
2.3
-
-
-

3.8
-2.3
-6.9
-0.1
0.8
0.0
-2.6
-1.2
1.3
1.9
-0.5
2.0
-0.9
-
-
-

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

179

EUROSTATISTICS

3.5.6.b

Unit value indices - Extra EU-27
Exports of total products

Percentage change on the corresponding period of the previous year (t/t-12)

Non-seasonally adjusted data

2006

2007

06m07 06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

6.0

4.0

2.0

0.0

-2.0

-
2.8
6.4
18.8
1.7
2.8
1.3
10.0
1.0
9.4
4.6
2.9
3.3
9.0
5.5
9.6

-
1.7
6.1
9.9
2.8
-2.2
0.6
6.6
-5.6
9.2
3.9
2.6
4.5
4.2
6.3
13.6

-
1.3
1.4
1.6
0.4
-4.6
1.8
6.5
0.5
5.9
-0.2
2.1
3.2
17.8
0.6
2.4

-
1.6
-1.7
6.3
2.9
1.3
1.5
-0.1
-1.3
0.3
1.7
0.8
2.5
-2.1
1.6
-3.4

-
2.4
4.0
11.3
0.7
-1.8
2.1
-1.8
5.1
3.1
1.5
1.9
4.1
1.7
2.7
-1.3

-
1.1
0.0
8.5
-0.9
0.2
1.4
0.0
-11.0
3.5
0.7
2.4
2.8
7.4
3.3
2.5

-
-0.2
-1.6
8.4
-1.7
-0.2
0.5
0.2
-3.6
-0.8
-1.7
-1.1
0.9
10.2
2.7
6.6

-
0.5
0.1
7.0
-0.5
-0.3
0.7
-0.7
6.5
1.2
1.1
-0.3
3.7
0.0
8.3
3.6

-
0.9
-0.3
7.1
1.8
-0.5
2.5
0.8
-12.2
3.7
-0.7
-1.3
3.4
0.5
2.0
5.6

-
1.2
0.9
7.3
0.6
0.4
3.1
-2.0
-1.8
0.8
2.7
-1.0
4.0
0.3
4.8
5.7

-
1.5
0.2
8.8
0.0
-2.6
1.7
2.9
4.5
-1.4
1.2
1.2
3.9
1.2
6.7
3.4

Unit value indices growth rates - Exports (t/t-12)

EU-27

-
2.1
4.2
3.3
2.9
-0.6
1.6
3.3
4.1
-2.2
3.2
0.4
5.8
1.6
6.6
8.3

6.0

4.0

2.0

0.0

-2.0

06m07

06m08

06m09

06m10 06m11

06m12

07m01

07m02

07m03

07m04

07m05

07m06

Unit value index of exports is the growth rate of the unit value index of exports in the current month as compared with the same
month of the previous year.

Further Metadata in SDDS format can be easily accessed from the new Euro Indicators’ website:
http://www.europa.eu.int/comm/eurostat/newcronos/info/notmeth/en/theme1/euroind/et/et.htm

180

DETAILED TABLES

3.5.6.b

Unit value indices - Extra EU-

27

 (continued)

Exports of total products

Percentage change on the corresponding period of the previous year (t/t-12)

Non-seasonally adjusted data

2006

2007

06m07 06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06

9.2
-4.0
-14.2
3.9
3.3
7.9
8.4
13.3
0.0
6.7
4.8
5.4
1.4
-
-
-

7.7
-3.3
-11.3
1.0
3.9
3.9
7.8
7.2
2.1
10.6
6.3
-0.5
-0.3
-
-
-

6.9
-5.0
-11.5
2.3
1.9
2.4
2.0
2.3
0.7
9.2
4.1
-1.4
0.1
-
-
-

10.4
2.9
-5.0
2.6
2.6
5.9
3.2
3.9
2.4
6.9
6.2
3.0
1.0
-
-
-

11.7
-2.4
-10.4
2.5
2.3
7.2
0.1
5.7
-0.7
7.4
7.5
3.3
0.8
-
-
-

9.2
-4.2
-9.7
0.1
2.8
2.8
2.6
3.9
-0.2
5.8
7.0
1.7
0.7
-
-
-

4.9
0.1
8.8
0.5
1.4
0.7
-2.4
-0.3
1.7
3.2
2.2
-3.3
-0.7
-
-
-

5.7
1.4
15.8
2.2
1.5
0.4
-1.8
4.4
1.6
0.6
6.8
-1.7
-5.4
-
-
-

2.4
4.9
7.5
2.4
-0.1
4.6
-0.6
3.4
0.7
-11.6
7.3
-1.2
-0.6
-
-
-

-2.5
0.6
5.9
2.6
1.7
4.1
-2.5
6.0
0.4
-5.7
5.2
-3.8
-3.9
-
-
-

-1.3
-0.2
9.4
1.5
2.0
2.3
2.4
5.2
0.8
-1.7
9.3
-0.7
-2.1
-
-
-

6.4
2.2
-1.1
2.0
2.1
4.7
-1.7
6.5
3.1
-1.5
5.8
1.7
0.0
-
-
-

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

181

EUROSTATISTICS

3.5.6.c

Unit value indices - Extra EU-27
Imports of total products

Percentage change on previous period (t/t-1)

Non-seasonally adjusted data

2006

2007

06m07 06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

4.0

2.0

0.0

-2.0

-4.0

-
2.4
1.4
1.9
3.2
0.8
0.2
5.6
2.6
3.4
4.5
3.2
2.5
-5.5
2.6
-0.4

-
2.1
-0.3
3.0
2.3
3.4
1.9
-2.1
1.5
2.1
1.7
0.7
3.7
-0.5
0.9
11.4

-
-2.5
-1.3
-3.3
-3.3
-4.5
0.0
-1.4
1.5
-5.5
-2.7
-4.6
-5.4
-2.9
-0.8
-5.3

-
-2.6
-1.3
0.3
-3.0
0.3
-4.1
-4.9
-1.9
-4.7
-2.8
-1.3
-3.0
-2.5
-2.6
-9.0

-
0.1
2.6
2.2
0.8
-0.3
-0.1
1.0
-0.4
-1.7
-0.9
1.0
0.6
1.6
0.4
-1.9

-
0.1
-2.0
-3.5
-1.3
-0.1
1.4
0.6
2.6
2.5
1.2
-1.0
0.9
0.9
0.0
1.5

-
-1.1
-0.8
2.6
0.1
-0.3
-0.4
-2.6
-5.2
-8.3
1.7
-2.7
-2.4
-3.3
0.2
-0.2

-
0.2
1.9
0.5
-1.9
0.6
-1.7
4.0
1.4
1.8
-1.4
1.2
0.8
0.4
1.6
-4.5

-
0.5
-0.1
0.6
1.1
0.6
0.0
-0.4
0.0
7.8
1.3
0.7
1.0
3.7
2.6
6.6

-
1.0
-1.3
2.5
-0.6
-0.1
0.6
2.8
2.9
-2.7
2.3
1.2
2.5
2.0
1.0
-1.2

-
-0.1
0.1
-0.8
0.1
-1.2
0.6
3.2
-8.3
0.2
-2.3
-0.9
-0.1
0.0
1.3
4.1

Unit value indices growth rates - Imports (t/t-1)

EU-27

-
1.4
1.3
3.7
0.4
0.5
0.0
3.4
6.8
2.3
3.0
2.0
2.0
1.8
1.1
2.1

4.0

2.0

0.0

-2.0

-4.0

06m07

06m08

06m09

06m10 06m11

06m12

07m01

07m02

07m03

07m04

07m05

07m06

Unit value index of imports is the growth rate of the unit value index of imports in the current month as compared with the
same month of the previous year.

Further Metadata in SDDS format can be easily accessed from the new Euro Indicators’ website:
http://www.europa.eu.int/comm/eurostat/newcronos/info/notmeth/en/theme1/euroind/et/et.htm

182

DETAILED TABLES

3.5.6.c

Unit value indices - Extra EU-

27

 (continued)

Imports of total products

Percentage change on previous period (t/t-1)

Non-seasonally adjusted data

2006

2007

06m07 06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06

7.7
2.8
7.2
5.4
1.7
5.2
4.6
3.9
2.3
0.2
1.6
1.7
0.8
-
-
-

-0.9
2.4
-4.7
1.5
0.1
4.2
5.7
0.7
-1.3
5.7
2.7
0.5
3.6
-
-
-

1.7
-0.7
14.9
-2.9
-1.0
-3.9
-7.8
-4.7
-0.5
-2.2
-2.7
-3.4
-2.6
-
-
-

-2.9
-0.2
-7.5
-1.1
-1.8
-2.5
-1.1
-1.2
2.4
-6.8
-2.5
-1.8
-2.6
-
-
-

2.3
-0.3
-2.0
-1.2
-0.4
-1.4
-2.7
1.2
-2.6
1.1
1.9
0.4
0.4
-
-
-

-7.4
0.9
-12.1
-0.2
-0.6
-3.7
0.8
-2.5
1.3
0.1
-2.0
-0.4
0.3
-
-
-

12.3
-3.1
9.6
-1.2
-1.6
-1.4
-4.0
-2.4
0.5
-1.8
-0.7
-4.2
-0.4
-
-
-

3.6
-1.1
-2.7
0.6
-0.1
-1.0
5.3
2.3
1.0
-3.6
3.6
1.4
0.8
-
-
-

-7.4
2.5
2.1
2.5
0.9
3.3
-3.1
1.6
1.8
3.0
-0.2
3.3
-3.2
-
-
-

-9.3
2.3
-0.4
0.8
-1.4
2.7
5.3
1.9
-0.3
-0.3
1.4
1.8
1.7
-
-
-

-13.4
-2.7
0.7
1.4
0.5
1.3
-0.2
-1.0
-1.3
-0.7
-0.1
-3.7
0.3
-
-
-

5.4
-0.8
-1.2
1.0
2.7
0.6
3.4
2.8
0.6
-0.6
1.9
2.3
1.2
-
-
-

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

183

EUROSTATISTICS

3.5.6.d

Unit value indices - Extra EU-27
Imports of total products

Percentage change on the corresponding period of the previous year (t/t-12)

Non-seasonally adjusted data

2006

2007

06m07 06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06

EA-13
EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV
LT

16.0

12.0

8.0

4.0

0.0

-4.0

-
7.5
5.3
8.8
7.8
4.6
7.5
8.1
2.8
14.3
9.4
7.2
9.6
6.2
12.4
12.2

-
6.7
2.5
14.2
8.4
5.3
8.1
4.7
4.1
9.1
7.9
4.7
9.5
6.5
11.1
19.0

-
3.9
2.0
8.3
5.5
3.2
6.1
4.9
4.8
5.7
5.2
0.3
4.3
-1.7
8.7
10.5

-
1.4
0.9
5.5
1.9
2.8
0.4
-1.5
3.0
0.5
3.2
0.0
1.5
-5.2
4.5
2.1

-
1.5
-3.9
10.6
1.3
2.7
1.6
-2.1
0.1
-1.8
1.3
1.2
2.3
-1.7
6.8
2.5

-
-0.2
-8.4
4.3
-2.8
0.4
1.8
-2.6
3.1
-1.5
1.3
-0.5
2.7
2.2
7.6
8.4

-
-2.3
-6.5
4.0
-0.2
0.2
-0.3
-8.3
-1.6
-11.5
0.6
-3.8
-1.0
-6.7
7.4
5.4

-
-2.3
-4.3
5.7
-3.8
3.5
-2.9
-1.7
-4.0
-9.7
-0.3
-3.2
-1.0
-7.4
9.5
-6.6

-
-2.4
-7.5
3.5
-0.3
1.5
-3.1
0.5
-2.0
-3.5
0.8
-3.5
-1.5
-0.3
10.5
-0.3

-
-1.6
-1.5
5.5
-3.3
1.4
-2.7
4.5
-1.9
-7.5
2.5
-2.8
1.3
0.5
5.3
-0.7

-
-2.1
-1.1
2.6
-2.8
1.1
-1.8
0.4
-6.6
-8.6
0.1
-4.9
-1.3
-1.3
5.4
-3.8

Unit value indices growth rates - Imports (t/t-12)

EU-27

-
1.2
0.2
9.8
-2.3
-0.4
-1.7
9.2
2.6
-3.9
5.4
-0.8
2.7
-4.6
8.5
1.7

16.0

12.0

8.0

4.0

0.0

-4.0

06m07

06m08

06m09

06m10 06m11

06m12

07m01

07m02

07m03

07m04

07m05

07m06

Unit value index of imports is the growth rate of the unit value index of imports in the current month as compared with the
same month of the previous year.

Further Metadata in SDDS format can be easily accessed from the new Euro Indicators’ website:
http://www.europa.eu.int/comm/eurostat/newcronos/info/notmeth/en/theme1/euroind/et/et.htm

184

DETAILED TABLES

3.5.6.d

Unit value indices - Extra EU-

27

 (continued)

Imports of total products

Percentage change on the corresponding period of the previous year (t/t-12)

Non-seasonally adjusted data

2006

2007

06m07 06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06

-2.8
1.1
10.1
5.9
6.2
12.7
12.8
7.6
8.6
10.2
6.8
8.0
6.9
-
-
-

5.5
0.5
8.1
3.9
4.9
8.5
12.4
6.7
3.8
9.9
6.3
6.0
7.1
-
-
-

7.8
-0.4
5.4
3.0
2.7
2.9
1.2
2.7
4.5
8.3
7.0
2.4
3.6
-
-
-

0.7
1.8
0.7
1.1
0.5
3.1
0.7
0.6
6.0
2.6
6.5
1.7
2.0
-
-
-

0.8
-0.6
0.4
1.0
0.8
3.7
6.3
3.3
1.2
1.9
9.4
3.5
2.3
-
-
-

-5.5
-1.2
-10.2
-2.4
-2.0
-2.9
3.0
-1.1
1.7
1.9
6.0
-0.4
-0.1
-
-
-

12.1
-4.0
-2.5
-4.5
-3.6
-4.9
-4.1
-5.9
2.0
-4.5
-1.0
-5.7
-1.4
-
-
-

8.1
-6.8
-7.6
-1.5
-3.4
-9.3
0.2
-4.8
3.3
-10.2
5.6
-3.9
-0.8
-
-
-

3.8
-2.4
-8.6
-0.2
-2.1
-0.2
-2.8
-3.0
5.4
-4.5
3.2
-1.0
-5.1
-
-
-

-9.1
-0.7
-6.1
-1.6
-3.4
0.8
0.2
-2.9
4.7
-5.9
1.0
-3.0
-2.7
-
-
-

-17.1
-2.5
2.5
0.7
-4.1
-2.2
-2.9
-1.4
3.1
-9.3
0.6
-4.2
-4.1
-
-
-

-11.1
1.8
0.9
6.5
-0.9
2.8
5.4
2.2
3.8
-6.3
4.6
-2.4
0.1
-
-
-

LU
HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US
JP

185

EUROSTATISTICS

3.5.7

GDP deﬂ ator
Growth index 1995=100

Non-seasonally adjusted data

2004

2005

2006

2007

04Q03 04Q04 05Q01 05Q02 05Q03 05Q04 06Q01 06Q02 06Q03 06Q04 07Q01 07Q02

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

125

120

115

110

105

100

122.8
130.1
119.9

120.3
127.5
119.0

120.8
127.9
119.7

119.4
126.9
118.5

116.3
122.5
115.3

118.2
123.6
115.5

118.4
125.0
117.4

117.3
124.1
116.2

117.9
125.0
116.6

122.2
120.7
130.7
127.0
120.6
117.5
3,754.0 3,798.2 3,847.7 3,964.8 3,900.9 3,947.6 4,068.6 4,308.5 4,214.2 4,323.5 4,412.7
160.1
155.9
127.3
124.2
108.4
108.1
224.9
203.9
154.4
156.4
:
:
150.1
143.6
119.3
116.2
135.0
137.8
138.6
135.6
196.3
199.0
161.8
156.7

154.3
124.9
107.2
203.8
146.6
:
141.5
115.4
130.7
133.5
184.1
148.7

154.7
120.4
106.5
186.6
143.9
:
136.1
113.4
127.8
130.8
167.8
140.2

154.7
122.4
106.1
196.8
142.4
:
139.4
114.8
129.2
131.7
159.2
141.6

155.6
126.9
106.6
210.6
150.7
:
146.9
118.0
133.2
135.9
191.5
162.3

158.7
126.4
108.7
219.8
159.3
:
149.3
119.3
139.3
138.5
223.3
169.4

154.7
123.3
105.9
198.1
146.1
:
141.2
115.4
130.4
132.3
173.6
153.0

158.2
121.2
107.3
192.7
148.4
:
137.8
114.2
133.6
132.9
177.7
149.4

154.5
125.0
106.6
207.6
147.6
:
145.3
116.9
131.1
134.8
173.9
150.9

157.3
127.5
107.9
213.3
153.3
:
146.7
118.2
133.7
137.1
206.4
160.0

GDP deﬂ ator growth index (1995=100)

EA-13

122.9
131.2
121.3
:
:
128.6
108.4
:
:
:
151.4
120.4
:
:
:
174.2

125

120

115

110

105

100

04Q03

04Q04

05Q01

05Q02

05Q03

05Q04

06Q01

06Q02

06Q03

06Q04

07Q01

07Q02

GDP deflator: the GDP deflator is an implicit price index which is obtained by dividing GDP in current prices by the corresponding
value of GDP in constant prices.
This indicator measures the inflation associated with  the economy as a whole.

186

DETAILED TABLES

3.5.7

GDP deﬂ ator (continued)
Growth index 1995=100

Non-seasonally adjusted data

2004

2005

2006

2007

04Q03 04Q04 05Q01 05Q02 05Q03 05Q04 06Q01 06Q02 06Q03 06Q04 07Q01 07Q02

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

135

130

125

120

115

110

105

100

131.3
283.4
128.0
133.2
116.5
197.6
:

131.3
270.9
129.1
130.2
114.6
195.3
:

131.1
271.8
128.2
131.3
114.7
194.4
:

121.8
256.8
118.5
127.1
111.6
191.3
:

130.0
260.2
124.9
130.9
113.6
191.6
:

118.5
251.6
120.5
125.9
110.6
189.0
:

125.8
261.0
125.5
128.2
112.5
191.9
:

119.8
251.9
120.9
127.8
112.3
191.1
:

121.0
261.3
124.8
129.0
112.3
192.3
:

133.8
278.6
127.2
132.3
115.2
198.5
:

:
130.3
:
269.1
:
123.0
133.4
129.9
117.6
113.0
200.4
194.3
:
:
2,847.4 3,055.5 3,085.6 3,156.0 3,167.6 3,390.1 3,443.7 3,498.2 3,437.0 3,761.7 3,649.8 3,781.7
:
176.2
:
:
:
:
:
90.9

184.2
170.2
114.5
110.7
129.8
148.4
:
89.8

194.8
172.9
115.8
114.5
132.4
166.5
:
91.2

190.4
166.9
114.2
112.6
129.8
151.2
:
92.2

187.9
165.8
112.3
117.5
127.8
157.4
:
88.8

185.6
171.0
116.0
111.3
126.3
145.9
:
93.5

186.9
173.3
115.6
112.6
132.6
165.2
:
88.6

187.3
174.7
116.9
113.1
128.8
159.1
:
92.0

187.0
162.9
111.6
116.6
125.3
144.5
:
90.0

192.9
172.0
115.5
119.3
131.2
167.4
:
88.2

192.5
177.8
116.7
115.5
132.3
165.0
:
91.5

194.9
178.7
118.3
115.7
135.6
163.9
:
88.3

GDP deﬂ ator growth index (1995=100)

EU-27

04Q03

04Q04

05Q01

05Q02

05Q03

05Q04

06Q01

06Q02

06Q03

06Q04

07Q01

07Q02

135

130

125

120

115

110

105

100

187

EUROSTATISTICS

3.5.8.a

Producer prices
Percentage change on previous period (t/t-1)

Seasonally adjusted data (at 1995 prices)

Energy

Intermediate goods

Capital goods

Consumer durables

Consumer
non-durables

2007

2007

2007

2007

2007

m05 m06 m07 m05 m06 m07 m05 m06 m07 m05 m06 m07 m05 m06 m07

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

1.0

0.5

0.0

0.5
0.6 -0.1
0.6
0.5
0.5
0.3
-0.2 -0.3
3.1
1.5
0.3
0.4
1.1
1.0
6.5 -1.8
1.6
0.0 -0.5
0.7
:
:
:
:
1.0
1.2
0.9
1.0
c
0.1
0.9
1.3
0.0
9.0
:
:
0.5

:
:
0.6
0.6
0.5
0.0
0.0
:
4.3 -1.7

0.5
0.4
0.5
1.0
0.8
0.3
0.5
:
0.2
0.4
0.6
0.3
0.4
0.3
:
0.4

0.0
0.0
0.1
1.1
0.4
0.0
0.0
:

0.1
0.1
0.3
0.8
0.4
0.2
0.0
:

0.1
0.2
0.2
0.1
0.0 -0.1
1.9
1.8
0.2
0.6
0.7
0.4
0.1
0.0
:
:
0.3
0.0
0.2
0.1
0.1
0.3
:
0.8

0.1
0.1
0.2
0.8
0.1
1.5
0.1
:
0.5 -0.1 -0.3 -0.6
0.1
0.4 -0.3
0.8
0.0
0.0
0.4
0.1
c
0.0
0.1
c
0.0
0.1
0.0
0.2
0.1
0.0
0.5
0.6
:
:
:
:
1.2 -0.2
0.8 -0.6

0.1
0.0
0.1
0.1
0.0
0.1
0.3
0.0
0.0
0.5
0.1
0.0
0.2 -0.1
0.1
0.3
0.2
0.0
0.0
:
:
0.0
0.1
0.0
0.3
0.2
0.1
0.0 -0.2
0.5 -0.1
1.0
0.0
:
:
0.2
0.4

0.2
0.2
0.2
0.9
0.2
0.3 -0.1
0.2
0.0
:
:
0.2
0.2
0.1 -0.3
0.1
0.2
0.1
c
0.4
0.1
0.1
0.0
:
:
0.3
0.0

0.2
0.2
0.2
0.3
0.3
0.3
0.4
:
0.7
0.0
0.0
0.2
0.2
0.0
:
0.1

Producer prices growth rates (t/t-1), 2007 m07

EA-13

Energy

Intermediate goods Capital goods

Consumer
durables

Consumer
non-durables

0.3
0.3
0.3
1.1
0.5
0.6
0.4
:
0.4
0.0
0.2
c
0.3
0.0
:
1.3

1.0

0.5

0.0

The  definition  of  Main  Industrial  Groupings  (MIGS)  is  based  on  the  statistical  classification  of  economic  activities  in  the
European Community, Council Regulation (EEC) No. 3037/90 of 9 October 1990 (NACE rev. 1).
It uses the level of Groups (3 digits) for distinguishing between the Main Industrial Groupings (MIGS).
The  growth rates show the change compared to the previous month (i.e. 2004m2 vs. 2004m01). They are meaningful only
when based on seasonally adjusted figures as otherwise seasonal fluctuations could hide volume movements.

188

DETAILED TABLES

3.5.8.a

Producer prices (continued)
Percentage change on previous period (t/t-1)

Seasonally adjusted data (at 1995 prices)

Energy

Intermediate goods

Capital goods

Consumer durables

Consumer
non-durables

2007

2007

2007

2007

2007

m05 m06 m07 m05 m06 m07 m05 m06 m07 m05 m06 m07 m05 m06 m07

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

1.0

0.5

0.0

-

0.5
1.1
-0.4 -0.3
-
0.1 -2.8
0.6
0.2
1.3
0.8
0.6
0.7
1.5 -0.1
0.2
-0.2
0.3
-0.1
c
c
-3.8
0.1
0.0
:
:

c
1.0 -1.9
1.8
1.3
4.8 -2.6
:
:

:
:

:

:

:
0.2 -0.1

2.5
0.1
-
0.2
:
:

2.8
2.5
2.4
1.2
0.1
0.7
-
-
-
0.9
0.3
0.6
:
0.2
0.3
0.4
:
:
0.5
0.6
0.0
1.0
0.4 -0.4 -0.9
0.1 -0.4 -0.1
0.5
0.6
0.1
0.0
0.3
0.6
0.4 -0.1 -0.1
0.3 -0.1
0.7
0.2
0.8
0.1
0.8 -0.1
0.0
1.0
0.0
0.0
0.2
0.2
0.5
0.1
1.0
0.8 -0.3
0.5
:
:
:
:
:
:
:
:

0.1
0.2
0.0
:
0.3 -1.1
0.5
1.6
-
-
-
-
-
0.1
0.1
0.1
0.0
0.0
:
0.5 -0.2
0.1 -0.2
:
:
:
0.1
0.0
0.1 -0.1
0.1 -0.3
1.2 -0.6 -0.5
1.1
0.0
0.7
0.5
0.8 -0.8
0.2 -0.5
0.2
0.6
0.6
0.6
0.2 -0.3
0.1
0.0
0.1 -0.2
0.4
1.0 -0.2 -0.2
:
:
:
:

0.1
:
0.1
1.7 -1.8
-
-
0.5
0.4
0.2
:
:
:
0.0
0.2
0.1 -0.4
0.3
0.1
0.5 -0.1
0.0
0.4
0.3
0.1
:
:

:
:

:
:

:
:

Producer prices growth rates (t/t-1), 2007 m07

EU-27

0.0 -0.1
0.6
0.6
-
-
1.8
0.4
:
0.3
:
:
0.4 -0.1
0.3
1.2
0.3 -0.1
0.4
0.0
0.5
0.5
0.0
0.1
0.2
0.2
0.5
0.1
:
:
:
:

1.0

0.5

0.0

Energy

Intermediate goods Capital goods

Consumer
durables

Consumer
non-durables

189

EUROSTATISTICS

3.5.8.b

Producer prices
Percentage change on the corresponding period of the previous year (t/t-12)

Non-seasonally adjusted data (at 1995 prices)

Energy

Intermediate goods

Capital goods

Consumer durables

Consumer
non-durables

2007

2007

2007

2007

2007

m05 m06 m07 m05 m06 m07 m05 m06 m07 m05 m06 m07 m05 m06 m07

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

6.0

4.0

2.0

0.0

-2.0

-0.1 -0.7 -1.9
-1.1 -0.6 -2.2
-4.1 -6.9 -5.2
7.3
5.3
3.4
6.8
6.9
5.9
-10.6 -10.0 -14.6
-0.3 -1.4 -2.8
:
:
:
:
:
:
2.6
2.2
3.4
-2.8 -1.4 -2.5
c
-1.6 -1.1
0.6
0.7 -2.1
-3.2 -3.2 -8.1
:

:
12.1

:
8.0

5.4
5.5
7.1
8.5
5.9
6.5
4.8
:
2.5
6.1
6.0
5.1
5.9
4.3
:

5.1
5.2
7.1
9.6
5.9
6.5
4.9
:
2.6
5.1
5.8
4.8
5.0
4.0
:

6.4
3.3
2.0
2.1
3.8
:
5.1 13.6 13.3 14.6 -1.7

4.6
4.7
6.1
9.9
5.2
6.0
3.8
:

1.9
1.9
3.3
3.4
2.3
4.3
1.1
:

2.0
2.0
3.8
3.7
1.8
4.7
1.2
:

1.7
1.7
2.9
4.7
2.2
5.7
1.1
:
2.9 -4.7 -5.0 -6.0
4.9
5.7
3.0
5.5
c
c
2.0
4.7
4.6
4.8
:
:
0.1

5.3
3.1
1.8
2.1
3.0
:
0.2

1.7
1.7
2.3
3.8
1.4
3.4
1.4
:
3.0
4.5
2.6
0.6
2.1
4.0
:
6.1

1.8
1.9
2.3
4.2
1.6
3.3
1.4
:
2.9
4.1
2.8
0.9
2.2
7.2
:
4.6

1.7
2.0
2.3
5.9
1.9
3.0
1.8
:
3.1

1.6
2.0
2.1
6.1
2.1
3.2
1.8
:
3.7

1.7
1.8
1.8
2.1
2.6
2.4
4.2
7.1
1.3
1.9
3.1
2.9
1.3
2.2
:
:
4.1
3.1
4.1 -2.3 -1.9 -1.9
1.7
2.8
c
c
1.9
2.0
4.2
4.6
:
:
6.2
4.6

1.6
0.9
1.8
4.2
:
6.3

1.9
0.9
2.0
4.2
:
6.3

Producer prices growth rates (t/t-12), 2007 m07

EA-13

6.0

4.0

2.0

0.0

-2.0

Energy

Intermediate goods Capital goods

Consumer
durables

Consumer
non-durables

The  definition  of  Main  Industrial  Groupings  (MIGS)  is  based  on  the  statistical  classification  of  economic  activities  in  the
European Community, Council Regulation (EEC) No. 3037/90 of 9 October 1990 (NACE rev. 1).
It uses the level of Groups (3 digits) for distinguishing between the Main Industrial Groupings (MIGS).
The  growth rates show the change compared to the previous month (i.e. 2004m2 vs. 2004m01). They are meaningful only
when based on seasonally adjusted figures as otherwise seasonal fluctuations could hide volume movements.

190

DETAILED TABLES

3.5.8.b

Producer prices (continued)
Percentage change on the corresponding period of the previous year (t/t-12)

Non-seasonally adjusted data (at 1995 prices)

Energy

Intermediate goods

Capital goods

Consumer durables

Consumer
non-durables

2007

2007

2007

2007

2007

m05 m06 m07 m05 m06 m07 m05 m06 m07 m05 m06 m07 m05 m06 m07

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

6.0

4.0

2.0

0.0

-2.0

-4.0

-

-

0.3

1.7
-
4.2
3.7
:
2.5
8.7
0.9

2.0
-
4.2
3.5
:
2.6
9.4
1.7

:
1.4
-
1.9
3.5
:
0.7
5.2
7.0

:
1.5
-
1.9
3.3
:
1.7
3.9
8.3

6.2
-
6.4
4.6
:
3.8
9.4
7.0
2.7
7.2

4.9
-
6.4
4.7
:
3.0
7.2
7.0
2.2
7.9

12.7 12.5 11.3
-
4.1 -0.2 -2.5
:
5.7
4.7
0.0
1.4
1.2
4.3
3.1
1.8
6.7
8.0
8.4
11.4 11.2 11.5
1.6
1.9
c
c

0.4 -0.5 19.2 20.4 20.7 15.8 14.8 13.0
:
3.6
0.5
0.1
-
-
-
5.4
3.0
1.7
:
:
:
:
:
:
2.9
2.3
1.0
5.4
6.7
3.8
8.4
1.5
6.4
2.2 -0.6 -0.4 -0.3 -6.9 -6.6 -6.8
1.1
2.1
7.5
2.1
1.7
0.1 -0.8 -4.6 10.8 10.1 10.7
1.8
1.3
4.4
-5.9 -1.9 -4.9
3.3
5.6
7.0
-14.2 -11.8 -19.9
:
:
:
:
:
:
:
:

1.8
1.3
1.8
3.1
:
:

2.0
1.0
1.7
2.4
:
:

1.8
1.5
1.7
4.0
:
:

1.4
1.6
1.6
3.7
:
:

4.3
8.0
:
:

4.8
6.9
:
:

1.8
c

:
:

:
:

Producer prices growth rates (t/t-12), 2007 m07

EU-27

3.1
4.9
-
3.0
1.7
:
0.9
7.1
1.0
1.5
1.6
2.9
2.7
2.5
:
:

3.0
4.9
-
3.0
1.7
:
0.8
7.0
1.3
1.6
1.7
2.8
2.7
2.3
:
:

3.0
4.3
-
4.7
:
:
0.5
6.6
1.4
1.9
1.9
2.8
2.7
2.4
:
:

6.0

4.0

2.0

0.0

-2.0

-4.0

Energy

Intermediate goods Capital goods

Consumer
durables

Consumer
non-durables

191

EUROSTATISTICS

3.5.9

Industry selling prices expectations for the months ahead
Seasonally adjusted data

2006

2007

Balance

06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07 07m08

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

12.6
12.3
17.8
13.8
11.3
6.1
14.4
27.9
6.0
18.5
8.8
5.9
16.1
4.9
27.3
14.4

12.6
12.5
20.8
13.5
8.2
12.4
12.7
30.3
9.6
12.1
8.4
4.9
18.7
4.7
29.7
13.5

12.1
13.6
14.5
11.8
8.6
10.7
10.4
35.6
-0.1
11.1
5.1
11.0
17.6
7.6
33.0
15.3

12.9
12.4
15.3
13.9
10.3
15.3
11.6
42.9
1.8
8.9
13.7
10.4
16.6
10.0
37.1
20.0

13.9
13.3
14.8
16.1
11.2
15.4
14.8
48.1
9.0
17.4
8.3
8.3
17.9
16.7
38.3
16.7

11.5
12.5
7.8
15.2
12.5
10.9
12.3
42.1
13.7
11.9
10.0
6.6
15.5
7.0
38.2
23.2

12.8
13.8
9.2
14.4
12.8
13.9
14.2
36.7
12.5
14.0
13.5
7.8
15.3
10.7
30.8
19.7

11.1
11.5
13.5
18.0
14.3
13.5
11.7
38.8
19.3
15.2
11.7
5.1
12.5
7.2
35.8
18.8

11.8
13.8
10.8
17.3
12.8
20.7
11.6
32.6
9.1
13.9
8.7
9.6
14.4
5.8
33.1
19.2

13.8
14.5
9.3
17.1
12.3
20.0
14.1
28.4
17.9
16.4
11.6
9.5
16.4
2.7
34.8
15.4

12.7
13.2
9.6
13.8
9.3
15.9
13.6
31.2
7.0
15.9
7.3
10.4
14.7
10.5
31.0
19.8

Source: DG ECFIN

Industry selling prices expectations for the months ahead

EA-13

16

14

12

10

8

6

4

2

0

13.3
14.0
7.6
17.3
4.4
13.6
15.6
25.8
12.2
:
10.6
:
12.9
12.2
34.7
22.5

16

14

12

10

8

6

4

2

0

06m09

06m10

06m11

06m12

07m01

07m02

07m03

07m04

07m05

07m06

07m07

07m08

The indicator of selling price expectations for industry is the difference (in percentage points of total answers) between positive
and negative options to the question ‘How do you expect your selling prices to change over the next 3 months?’

192

DETAILED TABLES

3.5.9

Industry selling prices expectations for the months ahead (continued)
Seasonally adjusted data

2006

2007

Balance

06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07 07m08

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

13.0
28.3
-17.4
13.1
16.4
8.8
1.2
21.1
8.2
18.7
13.8
4.1
12.6
-
-
-

9.1
33.7
-19.8
15.4
16.1
7.7
7.5
17.9
10.2
-4.6
24.5
9.5
13.1
-
-
-

2.1
24.2
-20.2
17.9
18.3
12.4
5.8
28.5
13.4
5.0
15.7
11.4
21.9
-
-
-

4.4
24.7
-27.7
13.8
19.1
12.7
4.9
33.3
14.7
-5.5
14.4
11.4
8.4
-
-
-

6.6
24.9
-30.9
18.2
20.1
17.4
3.8
12.7
11.6
12.5
21.8
0.2
11.8
-
-
-

10.8
26.1
-16.8
12.7
19.8
18.7
2.7
17.4
14.9
1.8
10.7
2.5
17.7
-
-
-

2.3
24.5
-5.9
10.2
17.6
15.9
5.0
17.1
13.2
21.4
20.3
2.6
20.4
-
-
-

3.7
20.5
-16.4
13.0
13.7
13.9
5.1
13.2
13.4
16.2
24.7
-0.9
13.4
-
-
-

1.3
20.4
0.6
12.0
14.7
15.4
0.9
12.4
10.5
5.9
29.0
-1.2
25.2
-
-
-

-4.0
17.4
-16.2
13.1
18.8
16.3
6.2
14.2
9.5
16.9
26.3
6.5
18.8
-
-
-

5.5
18.5
-5.0
12.8
14.1
15.2
19.3
12.6
12.0
25.6
21.0
3.2
16.3
-
-
-

Source: DG ECFIN

Industry selling prices expectations for the months ahead

EU-27

16

14

12

10

8

6

4

2

0

06m09

06m10

06m11

06m12

07m01

07m02

07m03 07m04

07m05

07m06

07m07

07m08

8.1
17.6
6.8
12.8
16.9
13.7
5.5
19.9
13.2
11.1
21.2
8.0
18.7
-
-
-

16

14

12

10

8

6

4

2

0

193

EUROSTATISTICS

3.5.10

Construction prices expectations for the months ahead
Seasonally adjusted data

2006

2007

Balance

06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07 07m08

8.9
15.1
4.1
15.7
17.0
4.5
-3.7
63.9
27.9
2.9
1.6
15.5
11.9
-0.9
65.9
51.4

9.2
15.0
14.4
20.8
19.3
5.4
-3.3
65.9
-3.9
2.9
3.8
14.3
9.8
8.5
68.0
47.1

9.0
15.7
14.1
22.3
18.1
8.5
-4.0
74.6
8.1
5.8
4.3
13.6
6.6
42.4
72.3
53.3

10.3
17.8
9.9
31.5
18.2
7.7
-2.3
65.5
-16.7
8.8
8.6
15.2
8.7
10.6
70.3
47.1

12.5
18.1
10.4
32.5
10.9
5.9
5.6
58.5
-10.9
-0.7
12.0
15.8
8.6
1.9
76.4
59.9

11.5
17.6
7.9
28.6
22.8
2.8
5.0
57.3
-17.0
4.5
9.9
11.8
6.0
-3.7
75.2
67.9

11.7
18.0
6.6
28.6
25.7
-0.5
1.8
57.8
-30.6
2.4
11.5
13.0
9.8
37.2
74.5
57.6

10.0
15.4
10.5
19.1
25.9
-0.4
0.0
49.7
-38.4
-3.3
1.8
17.1
10.1
22.4
66.4
57.7

9.8
15.4
7.5
26.1
15.1
-8.4
2.1
40.0
-12.2
1.1
3.0
12.0
8.6
10.7
66.5
54.2

11.1
16.5
6.6
26.5
18.6
-3.7
-0.6
38.6
-28.2
3.7
8.4
14.6
12.1
14.6
63.8
57.9

10.1
16.1
4.9
27.2
22.3
-5.1
-3.1
35.2
-46.9
9.0
4.2
17.6
12.5
9.3
61.7
48.1

6.8
13.5
5.4
43.3
21.3
-8.7
-8.6
35.7
-28.7
:
-3.9
:
9.9
-3.7
62.3
48.6

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

Source: DG ECFIN

Construction prices expectations for the months ahead

EA-13

16

12

8

4

0

06m09

06m10

06m11

06m12

07m01 07m02

07m03

07m04

07m05

07m06 07m07

07m08

16

12

8

4

0

194

DETAILED TABLES

3.5.10

Construction prices expectations for the months ahead (continued)
Seasonally adjusted data

2006

2007

Balance

06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07 07m08

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

-24.7
25.7
-
48.9
17.8
25.2
-35.3
30.4
11.5
33.8
37.3
27.7
36.4
-
-
-

-33.8
18.8
-
56.4
17.7
28.0
-36.3
33.6
16.8
37.0
33.0
21.2
34.9
-
-
-

-17.9
20.4
-
55.7
19.7
30.9
-30.2
36.9
10.6
34.0
35.1
32.9
36.8
-
-
-

-20.0
18.7
-
52.6
15.6
33.9
-20.5
40.6
13.5
39.7
40.9
35.2
42.4
-
-
-

-29.2
14.7
-
52.3
21.7
39.2
-20.1
29.5
20.3
41.2
44.2
33.0
36.0
-
-
-

-32.6
13.5
-
59.7
28.1
42.8
-15.6
28.1
22.1
31.3
32.7
35.5
36.6
-
-
-

-29.5
11.2
-
59.6
30.2
47.2
-17.8
26.4
12.4
39.0
34.9
30.2
37.7
-
-
-

-24.4
13.8
-
60.8
19.3
49.7
-18.0
30.6
21.0
38.4
36.9
27.5
30.5
-
-
-

-20.4
9.9
-
54.8
22.8
52.1
-17.3
31.4
13.7
35.0
55.7
29.4
32.2
-
-
-

-26.4
6.9
-
60.8
18.5
50.3
-17.3
23.0
14.9
37.2
44.5
28.3
33.6
-
-
-

-27.9
1.8
-
57.5
19.0
47.7
-12.7
24.8
15.4
36.7
31.7
29.8
35.2
-
-
-

Source: DG ECFIN

Construction prices expectations for the months ahead

EU-27

20

16

12

8

4

0

:
-0.7
-
50.7
17.4
43.8
-4.3
26.9
14.7
32.4
32.3
31.9
35.0
-
-
-

20

16

12

8

4

0

06m09

06m10

06m11

06m12

07m01

07m02

07m03

07m04

07m05

07m06 07m07

07m08

The indicator of price expectations for construction is the difference (in percentage points of total answers) between positive and
negative options to the question ‘How do you expect the prices you charge to change over the next 3 months?’

195

Section 3.6

EXTERNAL TRANSACTIONS

EUROSTATISTICS

3.6.1.a

Extra euro area trade
Millions of euro

Seasonally adjusted data (at current prices)

Trade balance

Exports of goods

Imports of goods

2007

2007

2007

m03

m04

m05

m06

m03

m04

m05

m06

m03

m04

m05

m06

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

126,000

124,000

122,000

120,000

118,000

116,000

-

-
-604
-
-
-

-
9,572
-
-
-

-
9,125
-
-
-

-
9,113
-
-
-

-
9,527
-
-
-

-
8,987
-
-
-

3,522
-
-567
-
-
-

3,893
-
-956
-
-
-

5,473
-
-46
-
-
-

-
9,554 10,069
-
-
-

5,217 122,802 122,620 123,325 125,429 117,329 119,097 119,432 120,212
-
9,730
-
-
-
10,703 10,924 12,026 11,434 45,252 45,890 45,707 46,723 34,548 34,967 33,681 35,289
-
-
-
3,341
3,175
1,141
:
2,391
:
-4,488
6,446 10,442 10,431 10,534 10,934
1,124 16,736 16,442 16,857 16,671 14,522 15,733 15,911 15,547
728 16,451 16,004 16,466 17,407 16,313 16,117 16,260 16,679
-
-
-

-
728
-1,515
-4,291
2,214
138
-
-
-

-
1,214
-1,586
-4,336
946
206
-
-
-

-
1,326
-1,518
-4,250
709
-113
-
-
-

-
4,672
903
6,198

-
4,346
922
6,151

-
4,667
873
6,181

-
4,316
:

-
3,619
2,437

-
3,459
2,490

-
-
-

-
-
-

-
-
-

-
-
-

-
-
-

-
-
-

-
-
-

-
-
-

-
-
-

EA-13 external trade - Millions of euro

126,000

124,000

122,000

120,000

118,000

116,000

m03

m04

m05

m06

Exports of goods

Imports of goods

External  trade  statistics  cover  any  movements  of  goods  between  the  EU  Member  States  and  non-member  countries  (extra-
EU  trade),  and  from  one  Member  State  to  another  (intra-EU  trade).  ‘Goods’  means  all  movable  property,  including  electric
current.

The Member States collect, compile and transmit these statistics to Eurostat according to Council regulations supplemented by
various Commission regulations.

198

DETAILED TABLES

3.6.1.a

Extra euro area trade (continued)
Millions of euro

Seasonally adjusted data (at current prices)

Trade balance

Exports of goods

Imports of goods

2007

2007

2007

m03

m04

m05

m06

m03

m04

m05

m06

m03

m04

m05

m06

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

6000

3000

0

-

-

57
-
-

544
-
-

522
-
-

370
-
-

371
-
-

542
-
-

379
-
-

-165
-
-

-170
-
-

-188
-
-

334
314
-
-
-
-
-4,419 -4,984 -5,203 -4,388 12,790 12,813 12,731 13,278 17,209 17,796 17,934 17,666
1,367 1,490 1,408 1,512 4,461 4,542 4,565 4,580 3,094 3,052 3,156 3,068
-
982 1,077 1,396 1,434 1,480 1,509
-
685
-
609 3,834 3,993 3,819 3,786 2,946 3,048 3,170 3,178
-
-
-
-
-

-
-432 1,015 1,009
-
887
-

-
-425
-
172
-
945
-
-
-
-
-

-
-381
-
257
-
888
-
-
-
-
-

-
-498
-
189
-
649
-
-
-
-
-

-
778
-

-
935
-

-
945
-

-
746
-

-
715
-

-
688
-

-
93
-

-
-
-
-
-

-
-
-
-
-

-
-
-
-
-

-
-
-
-
-

-
-
-
-
-

-
-
-
-
-

-
-
-
-
-

-
-
-
-
-

-

-

-

-

-

EA-13 external trade - Millions of euro

m03

m04

m05

m06

Trade balance

6000

3000

0

199

EUROSTATISTICS

3.6.1.b

Extra EU-27 trade
Millions of euro

Seasonally adjusted data (at current prices)

Trade balance

Exports of goods

Imports of goods

2007

2007

2007

m03

m04

m05

m06

m03

m04

m05

m06

m03

m04

m05

m06

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

118,000

112,000

106,000

100,000

94,000

-

-

-

-

-

-

-

-

-

-

6,539
712
1,317
1,605

6,569
683
1,309
1,653

5,416
426
1,074
1,764

6,048
393
1,043
1,979

5,537
443
1,001
1,711

-1,330
-336
-323
255

-
-
-12,042 -13,742 -13,964 -12,105 101,798 100,285 100,723 103,889 113,840 114,027 114,688 115,994
6,869
5,540
763
427
1,351
1,028
1,680
1,935
7,271 27,891 28,270 28,212 29,014 22,021 22,131 20,979 21,743
225
197
1,251
2,726
:
:
8,807
4,402
221 11,651 11,644 11,570 11,516 10,359 11,421 11,644 11,295
-580 11,931 11,385 11,911 12,756 12,995 12,618 12,925 13,336
137
22
-115
211
148
-63
499
389
-110

-1,470
-259
-332
173
7,233
-16
1,547
-1,462
-4,127
-74
-1,014
-113
-66
-127

-1,123
-287
-243
158
6,140
-15
1,664
-1,367
-3,996
223
-1,233
-126
-82
-105

-521
-290
-266
326
5,871
-19
1,170
-1,386
-4,156
1,292
-1,064
-108
-71
-41

-29
1,475
:
-4,405

237
2,945
532
4,278

253
1,399
1,994
8,405

197
2,689
535
4,186

199
3,000
523
4,328

215
1,519
1,921
8,342

214
1,335
1,890
8,323

7,007
701
1,332
1,538

20
125
366

24
134
344

132
204
386

23
143
381

136
209
508

146
207
471

EU-27 external trade - Millions of euro

118,000

112,000

106,000

100,000

94,000

m03

m04

m05

m06

Exports of goods

Imports of goods

Extra-EU trade statistics record the imports and exports of goods reported by each Member State.
The following are regarded as imports in a given Member State:
a) goods which enter the statistical territory of this Member State from a non-member country and are:
placed under the customs procedure for release into free circulation (goods intended to be consumed in the importing Member
State or dispatched to another Member State), either immediately or after a period in a customs warehouse; or
placed under the customs procedure for inward processing or processing under customs control (usually goods destined to be
processed, transformed or repaired for subsequent re-export) either immediately or after a period in a customs warehouse.
b) boats and aircraft whose ownership is being transferred from a person established in a non-member country to a person
established in the Member State in question.
The following are regarded as exports in a given Member State:
a) goods which leave the statistical territory of this Member State bound for a non-member country, having gone through;
the  customs  export  procedure  (final  export,  export  following  inward  processing,  etc.);  or  the  customs  outward-processing
procedure (usually goods destined to be processed, transformed or repaired for subsequent re-import).
b) boats and aircraft whose ownership is being transferred from a person resident in the Member State in question to a person
resident in a non-member country.

200

DETAILED TABLES

3.6.1.b

Extra EU-27 trade (continued)
Millions of euro

Seasonally adjusted data (at current prices)

Trade balance

Exports of goods

Imports of goods

2007

2007

2007

m03

m04

m05

m06

m03

m04

m05

m06

m03

m04

m05

m06

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

0

-4,000

-8,000

-12,000

-16,000

-20,000

59

81

23

65

92

84

66

487

473

160

150

147

496

-337
-528
33

-336
-440
18

-327
-477
16

856
-830
-396
-478
118
-390
696

-131
271
140
-573 1,150 1,109 1,163 1,107 1,589 1,587 1,691 1,680
75
98
-6,804 -7,587 -7,536 -6,673 7,230 7,076 7,076 7,539 14,034 14,663 14,613 14,212
905 2,653 2,731 2,771 2,768 1,797 1,798 1,911 1,863
-882 1,770 1,635 1,729 1,708 2,600 2,600 2,580 2,590
747 1,100 1,089 1,181 1,160
-413
654 1,156 1,085 1,196 1,224
-570
485
-52
464
412
889
839
414
-475
567 2,355 2,513 2,345 2,328 1,660 1,651 1,772 1,761
1,263 1,258 1,389 1,266 3,733 3,756 3,916 3,726 2,471 2,498 2,527 2,460
-6,057 -5,945 -5,962 -5,590 11,208 10,319 10,226 11,624 17,265 16,264 16,187 17,214
-
-
-
-
-
-

933
-965
-372
-409
62
-401
863

860
-851
-510
-553
41
-477
573

671
644
563
454

718
676
547
439

705
678
590
437

472
827

522
931

-
-
-

-
-
-

-
-
-

-
-
-

-
-
-

-
-
-

-
-
-

-
-
-

-
-
-

-
-
-

EU-27 external trade - Millions of euro

m03

m04

m05

m06

Trade balance

0

-4,000

-8,000

-12,000

-16,000

-20,000

201

EUROSTATISTICS

3.6.2.a

Exports of goods - Extra EU-27
Percentage change on previous period (t/t-1)

Seasonally adjusted data (Trade Value)

2006

2007

06m07 06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06

-
-2.0
7.6
-0.9
3.9
0.6
3.1
-1.3
2.2
-6.2
-8.0
-2.9
-9.8
11.9
3.6
-6.1

-
2.4
6.3
3.5
2.1
-8.0
0.2
9.1
1.3
-0.6
11.2
0.0
6.6
23.8
4.6
10.2

-
3.4
-7.5
-3.2
1.5
-1.6
11.4
-3.7
-1.0
7.7
-2.4
2.3
1.3
9.0
0.7
-8.6

-
-0.8
2.4
2.1
2.4
1.1
1.1
-4.6
3.6
-8.0
-6.9
0.1
-2.7
-27.2
4.1
-2.8

-
3.5
1.6
-1.2
-0.5
8.2
3.7
-6.5
-4.7
11.5
-12.0
1.7
9.3
21.0
-2.1
-15.2

-
1.0
0.3
9.7
3.8
2.1
-4.1
32.0
8.7
-5.4
29.9
-1.5
1.8
-10.3
7.3
14.9

-
-2.1
-3.5
-11.8
5.0
6.1
-4.3
-7.7
0.5
-3.6
-1.8
2.8
-1.6
-9.2
-0.2
-3.7

-
-0.1
0.0
-6.6
0.8
-13.8
-0.3
-4.6
-6.9
13.1
5.3
-0.4
3.4
7.9
-1.7
-9.0

-
1.3
6.4
11.2
1.4
11.3
0.4
-15.0
-0.3
-2.3
-5.5
0.8
0.2
-3.3
6.2
19.6

-
-1.5
-10.5
8.5
3.0
-10.9
1.4
1.2
11.5
-2.3
3.4
-0.1
-4.6
-15.7
-6.9
6.3

-
0.4
2.2
4.0
-6.8
-3.0
-0.2
19.3
-1.8
1.8
-1.1
-0.6
4.6
10.6
14.6
4.2

3.1
0.1
-3.7
2.8
13.1
2.8
-17.1
-7.5
:
2.9
-0.5
7.1
-1.7
3.5
2.0

Exports of goods growth rates (t/t-1)

EU-27

6

4

2

0

-2

-4

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

6

4

2

0

-2

-4

06m07

06m08

06m09

06m10

06m11

06m12

07m01

07m02

07m03

07m04

07m05

07m06

The following are regarded as dispatches in a given Member State:

a) goods in free circulation which leave the statistical territory of the Member State bound for another Member State;
b) goods which have been placed under the customs procedure for inward processing or processing under customs control (for
processing, transformation or repair) in the Member State and which are destined for another Member State;
c) boats and aircraft whose ownership is being transferred from a person established in this Member State to a person established
in another Member State.

202

DETAILED TABLES

3.6.2.a

Exports of goods - Extra EU-27 (continued)
Percentage change on previous period (t/t-1)

Seasonally adjusted data (Trade Value)

2006

2007

06m07 06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06

-9.3
1.8
-1.6
-4.0
-2.5
-11.2
-9.7
-11.7
5.9
15.3
-3.9
3.4
-7.3
-
-
-

12.6
8.3
2.5
3.3
3.5
7.3
22.3
9.1
0.6
-7.6
1.9
0.1
0.2
-
-
-

8.0
-0.1
10.3
0.8
-0.3
-5.2
-8.3
-9.3
-2.1
12.0
-3.2
-2.6
8.1
-
-
-

-5.2
5.8
13.6
-4.5
0.1
8.3
-7.2
8.4
2.8
5.1
-3.6
2.6
-6.2
-
-
-

9.7
1.9
6.6
3.6
1.1
3.9
7.8
3.6
6.5
-5.0
4.1
3.4
8.3
-
-
-

-6.0
-5.8
-10.1
5.3
2.2
-0.4
1.9
2.0
2.7
-6.0
-2.5
3.1
3.3
-
-
-

6.9
4.5
-12.0
0.5
0.1
-0.1
8.4
4.0
3.3
21.2
3.6
-8.2
-7.5
-
-
-

-5.8
4.1
2.8
-0.7
0.7
-2.5
-6.7
4.0
-3.1
-1.7
3.0
-1.2
-0.2
-
-
-

0.6
-3.3
-1.6
4.9
-2.3
8.8
-0.7
-6.0
8.5
-6.1
3.8
-2.4
3.8
-
-
-

-8.6
-3.5
-3.2
-2.1
2.9
-7.6
1.8
-0.4
-7.2
0.3
6.7
0.6
-7.9
-
-
-

2.2
4.9
13.3
0.0
1.5
5.8
-6.5
-4.8
2.9
3.6
-6.7
4.3
-0.9
-
-
-

-6.8
-4.9
6.4
6.5
-0.1
-1.2
11.4
1.6
-26.8
-8.8
-0.7
-4.9
13.7
-
-
-

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

203

EUROSTATISTICS

3.6.2.b

Exports of goods - Extra EU-27
Percentage change on the corresponding period of the previous year (t/t-12)

Non-seasonally adjusted data (Trade Value)

2006

2007

06m07 06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06

-
4.7
10.7
30.1
17.6
8.9
10.3

-
4.9
10.2
35.5
10.3
-1.0
5.2
106.3 106.5
1.3
-1.9
13.9
-10.6
6.2
18.4
43.8
28.6

-0.6
0.1
-1.0
-2.3
2.1
-9.8
26.8
29.3

-
4.9
-2.6
22.0
14.7
-1.7
18.7
76.6
-4.4
16.4
2.8
-8.2
6.5
47.5
35.1
15.4

-
12.6
15.2
14.9
25.4
7.7
28.5
83.5
11.4
-1.2
8.1
-1.1
11.3
3.5
57.7
3.6

-
12.2
10.1
10.8
17.3
5.5
34.1
38.2
-5.5
18.4
-19.6
-2.3
12.3
-14.5
41.4
-22.1

-
2.8
-4.2
6.8
5.4
13.2
11.7
79.8
6.1
-12.7
0.5
-12.0
11.5
-3.7
27.4
-7.8

-
9.5
3.5
19.1
9.9
26.6
13.6
43.9
13.2
-3.7
4.8
3.3
8.7
-4.9
22.5
11.4

-
5.5
3.3
-13.0
14.1
-1.4
6.0
0.5
4.9
22.2
12.9
1.0
14.2
-12.4
32.4
-14.9

-
4.1
2.9
1.9
7.2
36.0
7.3
11.6
1.8
4.2
-1.9
-3.2
9.9
-0.3
25.1
7.1

-
8.4
-0.4
-6.4
30.2
-2.6
11.7
-9.9
25.4
13.6
7.4
9.0
12.2
-33.7
11.4
3.6

-
3.5
-8.1
7.7
15.0
-6.8
9.4
16.5
9.9
-0.5
4.5
-1.4
6.5
-5.4
37.4
-6.5

Exports of goods growth rates (t/t-12)

EU-27

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

16

12

8

4

0

6.9
3.9
6.7
15.5
1.1
15
-8.7
-0.5
:
5.4
-2.6
14.9
3.3
37.3
4.2

16

12

8

4

0

06m07

06m08

06m09

06m10

06m11

06m12

07m01

07m02 07m03

07m04

07m05

07m06

The following are regarded as dispatches in a given Member State:

a) goods in free circulation which leave the statistical territory of the Member State bound for another Member State;
b) goods which have been placed under the customs procedure for inward processing or processing under customs control (for
processing, transformation or repair) in the Member State and which are destined for another Member State;
c) boats and aircraft whose ownership is being transferred from a person established in this Member State to a person established
in another Member State.

204

DETAILED TABLES

3.6.2.b

Exports of goods - Extra EU-27 (continued)
Percentage change on the corresponding period of the previous year (t/t-12)

Non-seasonally adjusted data (Trade Value)

2006

2007

06m07 06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06

-4.3
26.9
6.6
13.2
0.0
9.8
33.5
-0.4
19.4
64.3
12.1
3.7
-9.2
-
-
-

-1.3
28.0
4.1
13.6
14.2
27.4
38.6
5.4
18.7
19.3
16.6
8.1
-3.8
-
-
-

30.5
23.0
14.9
12.1
3.8
17.1
20.2
-3.7
10.9
39.6
2.9
0.3
-12.4
-
-
-

19.2
44.5
32.4
15.7
7.6
27.6
19.3
11.3
20.8
59.2
9.0
12.7
-9.1
-
-
-

36.1
37.8
28.7
13.7
6.4
27.0
15.9
21.3
18.6
31.4
3.1
14.3
-3.1
-
-
-

20.7
22.0
38.2
11.5
1.8
18.6
21.9
3.0
13.6
24.5
-1.3
3.7
-14.2
-
-
-

3.1
15.9
-19.0
17.9
19.7
19.0
32.1
15.7
22.9
78.1
4.2
-0.7
0.4
-
-
-

-10.4
30.6
26.2
13.4
14.3
8.7
21.4
9.5
20.1
52.1
10.0
2.0
-9.8
-
-
-

7.2
17.1
-7.6
14.3
-7.1
15.0
6.6
3.8
24.7
35.5
8.5
-6.7
-6.0
-
-
-

-8.8
13.9
-11.3
10.0
12.1
15.6
27.8
7.9
15.7
30.7
8.9
0.7
-2.9
-
-
-

-0.9
11.6
14.9
10.7
4.4
13.0
4.8
-11.7
10.4
45.8
5.8
2.1
-8.8
-
-
-

-4.2
11.6
27.5
13.6
6.5
3.6
10.0
-4.0
-16.7
15.0
0.4
-2.6
-0.5
-
-
-

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

205

EUROSTATISTICS

3.6.3.a

Imports of goods - Extra EU-27
Percentage change on previous period (t/t-1)

Seasonally adjusted data (Trade Value)

2006

2007

06m07 06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06

-
0.2
-1.6
8.4
1.4
-8.5
0.8
2.4
-10.2
-0.7
-0.5
3.3
1.6
-27.7

2.7

-
3.2
6.5
7.4
1.0
2.5
0.9
-9.0
7.1
1.7
7.8
-1.0
5.6
21.5

1.1

-
-1.2
-4.1
0.1
1.0
-4.6
5.5
-8.8
7.0
0.3
-4.4
-8.6
-4.8
-9.3

1.9

-
-0.3
8.1
1.4
2.0
4.9
-5.9
-10.8
-0.5
2.5
6.5
0.3
-0.2
-11.1

-1.3

-13.3

13.5

-8.5

-17.3

-
-0.3
1.9
-7.5
0.4
-5.1
-1.8
9.1
-3.4
-2.0
-7.1
0.5
0.4
3.8

1.8

6.6

-
2.3
-5.7
26.3
0.7
2.4
6.0
-0.1
3.8
-2.8
7.7
3.6
5.2
1.6

3.3

-5.9

-
-0.9
2.9
9.1
0.8
1.6
-2.0
11.3
6.0
6.2
-6.4
0.3
-3.9
38.1

3.3

16.7

-
0.8
-4.1
-7.8
-0.8
7.2
5.6
-7.4
0.3
3.9
5.8
2.2
0.3
-32.6

-1.5

-
-2.3
-0.5
8.1
1.9
-0.7
-6.6
-1.5
-11.5
-3.9
-4.5
-8.7
0.3
6.7

-
0.2
-0.5
4.4
0.6
-2.9
0.5
-0.6
-12.1
-1.7
-0.2
10.3
-2.9
10.5

1.8

1.3

1.9

-20.1

22.2

-
0.6
7.2
-1.5
1.2
-4.2
-5.2
18.2
4.7
5.5
1.0
2.0
2.4
-7.1

0.9

7.9

-
1.1
-2.0
8.8
1.4
9.2
3.6
-11.0
-10.6
:
4.8
-3.0
3.2
1.1

0.8

-1.8

Imports of goods growth rates (t/t-1)

EU-27

4

0

-4

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

4

0

-4

06m07

06m08

06m09

06m10

06m11

06m12

07m01

07m02

07m03

07m04

07m05

07m06

The following are regarded as arrivals in a given Member State:

a) goods in free circulation which enter the statistical territory of the Member State;
b) goods which have been placed under the customs procedure for inward processing or processing under customs control (for
processing, transformation or repair) in another Member State and which enter the statistical territory of the Member State in
question;
c) boats and aircraft whose ownership is being transferred from a person resident in another Member State to a person resident
in the Member State in question.

206

DETAILED TABLES

3.6.3.a

Imports of goods - Extra EU-27 (continued)
Percentage change on previous period (t/t-1)

Seasonally adjusted data (Trade Value)

2006

2007

06m07 06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06

1.0
7.7
4.2
-1.2
0.2
1.6
2.1
6.3
-4.8
-4.5
5.3
2.5
-1.4
-
-
-

-0.9
1.2
50.8
1.7
10.3
3.5
2.9
1.6
-0.5
22.5
2.8
-6.7
5.0
-
-
-

-1.2
-1.1
-27.2
-0.7
-9.5
2.3
-2.0
-4.2
-1.9
0.2
-1.1
6.1
-0.1
-
-
-

2.3
2.0
24.0
2.9
-0.7
2.0
-0.6
2.5
16.5
-6.2
-6.1
3.0
-3.4
-
-
-

-4.2
1.9
-21.5
-1.4
4.6
-2.2
1.3
2.5
-5.3
-0.5
-2.2
-6.7
6.3
-
-
-

5.5
-5.4
-2.6
2.9
-4.7
5.4
-1.7
5.8
-6.6
-7.0
-5.7
2.2
-2.5
-
-
-

-4.8
13.0
2.8
-1.2
13.6
-4.8
4.6
-20.2
20.6
8.9
12.4
-2.4
-2.2
-
-
-

-0.3
-3.9
-13.7
-1.3
-4.3
-15.1
-7.7
-0.5
-1.3
-5.9
0.0
-11.6
2.0
-
-
-

0.7
-4.8
-9.5
-2.2
-8.8
27.0
6.9
5.0
10.5
11.5
-5.3
9.0
0.9
-
-
-

-4.6
-0.2
-1.1
4.5
0.1
0.0
-1.0
-6.2
2.8
1.5
-0.5
1.1
-5.8
-
-
-

3.0
6.6
-10.0
-0.3
6.3
-0.8
8.4
10.2
7.6
10.9
7.4
1.2
-0.5
-
-
-

-44.4
-0.7
27.3
-2.7
-2.5
0.4
-1.7
2.3
-11.1
-4.5
-0.6
-2.7
6.4
-
-
-

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

207

EUROSTATISTICS

3.6.3.b

Imports of goods - Extra EU-27
Percentage change on the corresponding period of the previous year (t/t-12)

Non-seasonally adjusted data (Trade Value)

2006

2007

06m07 06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06

-
12.8
7.1
23.3
32.3
-2.7
17.0
78.6
-2.7
17.1
11.9
4.5
19.9
2.4
37.2
23.4

-
11.7
8.2
35.5
27.3
1.0
12.8
41.8
3.6
19.6
16.8
-3.8
23.2
40.7
37.9
25.6

-
8.1
4.0
42.8
21.1
-8.1
19.1
23.0
2.9
8.1
8.9
-14.9
11.9
-3.5
32.5
8.6

-
13.6
26.6
29.9
27.1
8.4
10.8
-0.5
-4.0
46.7
28.4
-1.2
19.3
-26.6
17.3
-18.9

-
7.1
13.4
21.1
17.8
-6.4
12.1
6.9
13.4
12.3
3.9
-10.7
10.6
-25.3
19.1
-12.0

-
0.8
1.4
46.9
16.2
-13.4
-0.6
14.2
-18.8
-15.6
6.5
-14.1
9.5
19.9
14.6
-16.9

-
6.8
5.8
65.3
18.4
-6.0
6.5
5.3
16.0
14.0
12.2
-3.5
11.4
18.9
36.8
2.0

-
5.8
2.7
37.3
12.2
3.2
6.4
-9.1
4.8
37.2
9.3
5.4
4.2
-27.0
21.8
3.1

-
0.6
-3.7
45.5
12.5
-2.3
-1.4
-2.6
-0.7
-2.6
-0.9
-8.5
4.6
-7.9
16.1
-35.6

-
4.8
7.1
51.3
12.8
-12.4
4.2
-13.8
-7.0
-6.0
5.5
7.2
5.6
14.5
18.0
11.5

-
0.4
8.5
45.2
10.6
-9.8
-4.3
17.3
0.0
8.4
1.4
-1.1
0.3
-7.4
16.3
-5.3

-
2.7
7.2
65.1
10.4
0.3
0.2
-12.1
-22.6
:
5.0
-0.3
7.0
-22.8
17.7
-5.9

Imports of goods growth rates (t/t-12)

EU-27

18

12

6

0

06m07

06m08

06m09

06m10

06m11

06m12

07m01

07m02

07m03

07m04

07m05

07m06

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

18

12

6

0

The following are regarded as arrivals in a given Member State:

a) goods in free circulation which enter the statistical territory of the Member State;
b) goods which have been placed under the customs procedure for inward processing or processing under customs control (for
processing, transformation or repair) in another Member State and which enter the statistical territory of the Member State in
question;
c) boats and aircraft whose ownership is being transferred from a person resident in another Member State to a person resident
in the Member State in question.

208

DETAILED TABLES

3.6.3.b

Imports of goods - Extra EU-27 (continued)
Percentage change on the corresponding period of the previous year (t/t-12)

Non-seasonally adjusted data (Trade Value)

2006

2007

06m07 06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06

46.9
21.6
29.6
7.9
8.5
36.9
11.8
19.2
34.6
32.5
34.9
14.6
8.5
-
-
-

45.6
10.6
86.4
5.9
12.4
38.1
12.3
17.4
22.6
76.4
22.9
12.2
9.9
-
-
-

13.5
38.6
10.8
16.7
30.7 106.5
12.6
11.5
37.7
-2.4
24.2
43.7
45.7
25.9
15.9
7.5
-
-
-

5.6
0.4
37.9
6.0
13.6
9.9
67.5
34.9
13.5
4.6
-
-
-

-40.6
12.2
6.0
5.5
4.8
23.8
13.0
20.3
12.1
43.4
14.5
9.5
9.7
-
-
-

41.3
2.2
37.7
2.7
-7.0
34.3
2.1
19.5
3.4
-6.2
5.5
4.2
0.1
-
-
-

-10.6
16.6
12.0
7.8
15.8
16.2
10.2
6.0
30.8
12.9
15.0
15.9
0.1
-
-
-

-11.4
14.3
-17.5
10.7
12.0
0.8
-9.3
-11.7
21.9
-2.2
21.2
-5.7
1.1
-
-
-

-6.2
1.2
-15.4
3.2
-1.2
25.5
-4.6
-7.1
41.0
24.3
1.6
1.7
2.8
-
-
-

-31.9
6.6
-3.0
8.7
4.6
24.9
-4.0
-11.0
59.2
18.1
11.9
1.9
0.0
-
-
-

-11.1
7.0
-24.4
7.1
-6.5
11.6
11.7
0.3
48.7
31.5
1.4
-8.8
-6.2
-
-
-

-41.2
15.1
-5.7
0.7
1.8
13.3
11.8
-1.3
23.9
23.0
3.2
-6.8
2.4
-
-
-

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

209

EUROSTATISTICS

3.6.4.a

Balance of payments - Current account
Extra EU-27

Mio EUR

Non-seasonally adjusted

2004

2005

2006

2007

04Q02 04Q03 04Q04 05Q01 05Q02 05Q03 05Q04 06Q01 06Q02 06Q03 06Q04 07Q01

Total
Credit 420,851 422,196 449,463 415,712 477,931 492,832 519,541 500,123 553,451 539,731 573,927 550,301
430,874 432,336 442,246 425,841 487,046 513,146 546,038 536,334 564,262 566,640 592,052 582,315
Debit
-9,115 -20,314 -26,497 -36,211 -10,812 -26,908 -18,125 -32,014
-10,023 -10,140
Net

7,217 -10,129

Goods
Credit 236,612 235,827 250,592 228,600 259,710 266,096 281,009 274,519 288,699 286,933 313,131 290,958
245,847 250,846 265,286 253,624 280,530 293,573 317,427 325,139 329,240 332,169 345,899 340,496
Debit
-9,235 -15,019 -14,695 -25,025 -20,820 -27,477 -36,418 -50,620 -40,540 -45,236 -32,768 -49,538
Net

Services

Credit
Debit
Net

92,798 98,904 98,044 89,752 101,288 107,140 108,370 103,018 111,238 116,846 116,343 109,672
77,692 86,288 84,966 79,641 83,213 95,860 92,552 91,833 91,709 99,571 96,947 94,446
15,106 12,615 13,078 10,111 18,075 11,280 15,818 11,185 19,529 17,275 19,396 15,225

Current balance (Net) - Extra EU-27

Total

04Q02 04Q03 04Q04 05Q01 05Q02 05Q03

05Q04

06Q01

06Q02

06Q03

06Q04

07Q01

Goods

04Q02 04Q03 04Q04 05Q01 05Q02 05Q03

05Q04

06Q01

06Q02

06Q03

06Q04

07Q01

Services

04Q02 04Q03 04Q04 05Q01 05Q02 05Q03

05Q04

06Q01

06Q02

06Q03

06Q04

07Q01

15,000

 0

-15,000

-30,000

-45,000

8,000
-8,000
-24,000
-40,000
-56,000

25,000
20,000
15,000
10,000
5,000

15,000

 0

-15,000

-30,000

-45,000

8,000
-8,000
-24,000
-40,000
-56,000

25,000
20,000
15,000
10,000
5,000

The current account covers all transactions (other than those in financial items) that involve economic values and occur between
resident and non-resident units. It is divided into four basic components: goods, services, income and current transfers.
Goods cover general merchandise, non-monetary gold and, since the implementation of the BPM5, goods for processing, repairs on
goods and goods procured in ports by carriers. The most important component, general merchandise, includes all movable goods
whose ownership is transferred from a resident to a non-resident and vice versa.
Services is the second major category of the current account. Both the production of, and international trade in, services differ
from production and trade related to goods. The production of a service is linked to an arrangement made - between a particular
producer in one economy and a consumer or group of consumers in another economy - prior to the time that production occurs.

210

DETAILED TABLES

3.6.4.b

Balance of payments - Current account
Extra euro area

Mio EUR

Non-seasonally adjusted

2004

2005

2006

2007

04Q03 04Q04 05Q01 05Q02 05Q03 05Q04 06Q01 06Q02 06Q03 06Q04 07Q01 07Q02

Total
Credit 464,776 495,894 471,559 511,792 524,836 561,493 546,286 585,628 576,597 638,181 609,252 636,308
450,555 471,331 461,769 516,357 524,315 567,444 560,126 592,499 581,534 619,971 611,657 643,292
Debit
-6,984
-5,951 -13,839
14,221 24,563
Net
Goods
Credit 280,778 298,486 281,357 307,668 310,237 328,469 331,269 344,215 343,003 374,199 359,476 371,663
256,866 278,286 267,523 291,059 296,905 325,396 334,275 337,126 335,099 355,870 351,921 352,971
Debit
7,555 18,692
23,913 20,200 13,834 16,609 13,332
Net

-4,938 18,211

7,904 18,330

-4,565

-6,871

-3,006

-2,405

9,790

7,089

521

3,073
Services

Credit
Debit
Net

99,953 94,558 86,858 98,390 109,974 106,636 97,540 107,535 114,050 110,160 103,592 114,057
89,482 86,877 82,677 87,634 100,671 96,296 92,535 95,117 104,197 101,717 97,962 100,861
5,631 13,197
10,471

5,005 12,418

9,303 10,339

4,182 10,757

7,681

9,852

8,443

Source: ECB

Current balance (Net) - Extra euro area

Total

04Q03 04Q04 05Q01 05Q02

05Q03

05Q04

06Q01

06Q02

06Q03

06Q04

07Q01

07Q02

Goods

04Q03 04Q04 05Q01 05Q02

05Q03

05Q04

06Q01

06Q02

06Q03

06Q04

07Q01

07Q02

Services

04Q03 04Q04 05Q01 05Q02

05Q03

05Q04

06Q01

06Q02

06Q03

06Q04

07Q01

07Q02

30,000

20,000
10,000
0
-10,000
-20,000

40,000
30,000

20,000

10,000

0
-10,000

20,000

10,000

0

30,000

20,000

10,000
0
-10,000
-20,000

40,000

30,000

20,000

10,000

0
-10,000

20,000

10,000

0

211

EUROSTATISTICS

3.6.5.a

Balance of payments - Current account
Extra EU-25

Mio EUR

Non-seasonally adjusted

2004

2005

2006

2007

04Q02 04Q03 04Q04 05Q01 05Q02 05Q03 05Q04 06Q01 06Q02 06Q03 06Q04 07Q01

Income

82,325 79,099 91,819 89,427 107,221 107,638 119,959 113,561 143,106 126,770 134,579 139,581
88,656 76,687 70,721 72,287 103,345 100,598 113,318 96,834 122,058 112,826 124,567 121,992
6,641 16,727 21,048 13,944 10,011 17,589
-6,331

2,412 21,098 17,140

3,876

7,041
Current transfers
9,712 11,957 10,203

9,009

8,367

9,875 10,090
9,115
18,679 18,514 21,273 20,288 19,958 23,115 22,741 22,528 21,256 22,074 24,639 25,380
-9,564 -10,148 -12,264 -12,355 -10,246 -11,158 -12,538 -13,502 -10,849 -12,891 -14,764 -15,290

9,026 10,408

7,933

9,183

Current account (Net) - Extra EU-25

Income

04Q02 04Q03 04Q04 05Q01 05Q02 05Q03

05Q04

06Q01 06Q02 06Q03 06Q04

07Q01

Current transfers

24,000

18,000

12,000

6,000

0
-6,000

-12,000

-8,000

-10,000

-12,000

-14,000

-16,000

-18,000

04Q02 04Q03 04Q04 05Q01 05Q02 05Q03

05Q04

06Q01 06Q02 06Q03 06Q04

07Q01

Income: This sub-balance contains two main items: compensation of employees and investment income.
Compensation  of  employees  records  wages,  salaries  and  other  benefits,  in  cash  or  in  kind,  earned  by  individuals  for  work
performed for economic units whose place of residence is different from their own (border workers, seasonal workers, employees
of international organisations, etc.).
Current  transfers  cover  international  transactions  in  which  goods,  services,  or  financial  items  are  transferred  between  the
residents of one economy and the residents of foreign economies without something of economic value being received in return.
Current  transfers  are  broken  down,  according  to  the  sector  of  the  compiling  economy,  into  two  subcomponents:  general
government and other sectors.

212

Credit
Debit
Net

Credit
Debit
Net

24,000

18,000

12,000

6,000

0

-6,000

-12,000

-8,000

-10,000

-12,000

-14,000

-16,000

-18,000

Credit
Debit
Net

Credit
Debit
Net

DETAILED TABLES

3.6.5.b

Balance of payments - Current account
Extra euro area

Mio EUR

Non-seasonally adjusted

2004

2005

2006

2007

04Q03 04Q04 05Q01 05Q02 05Q03 05Q04 06Q01 06Q02 06Q03 06Q04 07Q01 07Q02

Income

68,399 81,558 74,262 88,103 88,777 103,966 91,741 116,514 104,104 126,230 119,431 133,119
69,591 73,125 65,152 104,031 90,576 106,515 87,254 127,011 102,979 119,353 114,023 155,191
5,408 -22,072
-1,192

4,487 -10,497

9,110 -15,929

-1,799

8,432

1,124

6,877

-2,549
Current transfers
22,423
39,236

21,292
33,043

17,468
15,645
34,615
34,270
-18,970 -11,751 -17,336 -16,001 -20,316 -16,814 -20,325 -15,881 -23,818 -15,439 -20,998 -16,801

25,736
46,060

15,847
36,163

17,631
33,632

29,082
46,418

17,364
33,245

15,440
39,259

27,591
43,031

26,752
47,751

Source: ECB

Current account (Net) - Extra euro area

Income

04Q03 04Q04 05Q01 05Q02 05Q03

05Q04

06Q01

06Q02

06Q03

06Q04

07Q01

07Q02

Current transfers

04Q03 04Q04 05Q01 05Q02 05Q03

05Q04

06Q01

06Q02

06Q03

06Q04

07Q01

07Q02

10,000

5,000

0

-5,000

-10,000

-15,000

-20,000

-25,000

-10,000

-15,000

-20,000

-25,000

10,000

5,000

0

-5,000

-10,000

-15,000

-20,000

-25,000

-10,000

-15,000

-20,000

-25,000

213

EUROSTATISTICS

3.6.6

Portfolio investment - Net
Mio EUR

Non-seasonally adjusted

2004

2005

2006

2007

04Q02 04Q03 04Q04 05Q01 05Q02 05Q03 05Q04 06Q01 06Q02 06Q03 06Q04 07Q01

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

-
-

-
-

-
-

-
-
:
-519
-45

-
-
-
-
: -23,081
-649
-761

-
-
64 -16,881
-52
89
-283 -1,271
-16
-545 -9,863
-83
-765

-
-
-
-
3,712
9,748
61
145
-441
1,061
-292 -2,010
5,788
-402

-
-
:
93
109
1,201
-105
-122 -7,493 -3,844 -3,493 -7,612
-28,911 32,363 -1,963 -10,604 22,101
-356 -1,340
356
4,080
:
1,732
2,656 -1,001
-1,330 24,380 37,794 21,662 21,266 -4,349
-2,155
14,813
45
167
-102

-
-
9,698 -6,007 -16,195
-56
-605
102
-693
-100 -1,182
-743
2,867 -11,651
8,107 -43,545
285
-341

-
-
5,464
-209
-701
5,057
5,818 -35,786
-94
-428 25,927 23,119 -20,291 -11,845 -2,844 19,557 -6,331
:
6,464
2,866 46,455 78,845 35,587 23,682 49,590
-154 18,236 -19,047 -37,711 -8,713 -24,198 11,098 12,627
556 -1,272
6,179 22,062 20,674 -19,205
-347
263
-720
-947
-112
121
-46
138
-413
65
-257
-252

-198 -18,909 -12,703
5,530 -1,560 27,262 25,082 -15,125
-84
536
-199
-256
-62
-174
-87
257
72

-143
:
6,164

-158
-188
156

375
93
-134

140
103
-159

495
122
-99

4,387 -2,571

412
:

930

242

:

:

:

Portfolio investment includes:
(1) equity securities (all instruments representing claims on the residual value of incorporated enterprises after the claims of all
creditors have been met) and
(2) debt securities in the form of bonds and notes and money market instruments, except for those falling into the category of
either direct investment or reserve assets.

214

DETAILED TABLES

3.6.6

Portfolio investment - Net (continued)
Mio EUR

Non-seasonally adjusted

2004

2005

2006

2007

04Q02 04Q03 04Q04 05Q01 05Q02 05Q03 05Q04 06Q01 06Q02 06Q03 06Q04 07Q01

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

200,000

150,000

100,000

50,000

0

120,000

80,000

40,000

0

-40,000

-80,000

-120,000

426
-43

6,935
2,353
-128

-6,462 29,174 31,010
6,145 27,409
601 16,783 15,576
25,820 -15,157 21,388
1,549
2,508
1,008
-2,082
3,780
-121
1,061
323
1,937
1,847
364
-124
-308
-1,634
-335
-1,470
-564
26
-304
-896
-1,550 36,746
3,501
-2,136
-5,295 26,693 54,659 -13,529 10,494
-6,355 -18,959 -10,923
8,871 14,202
-921
3,540
-1,788
-4,928
-795
-1,608
-983
-1,209
-1,203
-798
-1,324
-2,209
2,271
482
-418
1,558
1,815
1,221
-2,307
4,697
7,845
-3,166
-6,732
532
-1,898
2,699
-1,214
-2,042
-64
64
-224
12
200
731
-40
-318
24
-125
-626
-672
-351
-178
-257
-193
-735
-28
-102
-364
-15
-25
-667
-548
103
259
1,067
-198
786
75
-8,873
4,047
-9,155
2,684
5,976 -10,812
-4,474
779
-7,635
2,012
-9,242
-3,248
7,412
-3,917
-3,357
-7,783
-2,672
3,542
2,322 -11,495
8,321 -27,365 -35,475 44,758 -45,658 -64,138
18,303 -46,385 -55,586 42,650 -33,337 -61,575
:
2,809 -11,492
:
:

:
146,619 72,432 156,786 120,068 120,416 172,925 175,339 154,365 115,632 154,573 103,871
7,216 -26,601 31,628 -13,756 16,986 -63,127 50,813 -12,749 93,216 -82,030 100,950

-5,674
5,393
2,537
205
-429
-532
-1,102
5,362

470
4,404
-2,362
-106
-262
317
-5,620
3,784

-1,987 -22,252

8,241 11,474

-7,182

:

:

:

Portfolio investment - Mio EUR

US

04Q02

04Q03

04Q04

05Q01

05Q02

05Q03

05Q04

06Q01

06Q02

06Q03

06Q04

JP

200,000

150,000

100,000

50,000

0

120,000

80,000

40,000

0

-40,000

-80,000

-120,000

04Q02

04Q03

04Q04

05Q01

05Q02

05Q03

05Q04

06Q01

06Q02

06Q03

06Q04

215

EUROSTATISTICS

3.6.7

Direct investment - Net
Mio EUR

Non-seasonally adjusted

2004

2005

2006

2007

04Q02 04Q03 04Q04 05Q01 05Q02 05Q03 05Q04 06Q01 06Q02 06Q03 06Q04 07Q01

EA-13

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

-
-
:
812
838
-1,530
-7,615
118
-4,869
-178
759
-5,558
-3,514
43
96
147

-
-
:
-440
964
-163

-
-
:
1,415
557
1,887

-
-
2,045
634
916
-762

-
-
-8,538
576
4,602
415
-9,984 13,550 -13,896 -13,169
988

53
256
158 -10,308
-27
281
-5,174 -18,345
-4,744
-7,740
-489
1,734
196
-5
150
106
87
37

881
964
-30
-6,363
-3,532
-1,254
23
174
154

-
-

-
-
3,378
1,219
756
-983

-
-
7,516
813
1,424
-603
-5,443 -14,643
21
5,531
:
-7,470

-
-
-
-
-5,546
-3,867 12,123
767
736
1,231
453
1,844
2,003
-1,989
583
786
-6,044 17,309 -18,671
-32
369
170
-184
-7,991
-3,855
-7,066 -15,732 -15,158
-118
-856
:
425
-15 -29,367 -10,789
-549

-
-
2,354
1,184
1,054
95
9,617
104
-6,177
:
-7,905
-3,848 -31,618 12,581 -13,845 -12,508 -13,300
-2,686 -13,282
538
92
116

-
-
3,095
843
937
-4,401
-6,251
279
3,654
:
-5,364
-7,652
-8,251 -12,024
132
350
428

23
-6,590
6,907
-334
-15
85
216

-8,512
57
165
173

9,495
130
312
73

4,235
153
316
137

45
135
63

266
405
822

Direct investment is a category of international investment that reflects the objective of a resident entity in one economy to
obtain a lasting interest in an enterprise resident in another economy. In line with international standards, what is known as the
“10% ownership criterion” is applied in order to infer the existence of a lasting interest.

216

DETAILED TABLES

3.6.7

Direct investment - Net (continued)
Mio EUR

Non-seasonally adjusted

2004

2005

2006

2007

04Q02 04Q03 04Q04 05Q01 05Q02 05Q03 05Q04 06Q01 06Q02 06Q03 06Q04 07Q01

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

60,000

40,000

20,000

0

-20,000

-40,000

0

-5,000

-10,000

-15,000

-20,000

-25,000

520
170

344
189

1,726
654
132

-1,955 -1,822
1,288
16

2,507 -2,137 -1,751 -4,776
2,409
99

723
73
1,266 -76,810
410 -1,132
1,835
690
961
-480
1,745
1,433
3
3
285
746
-24
-417

580
145
-5,870 -4,642 -3,713 -6,302
-580
2,271
629
568
-179
74
-872

-153 -7,192 24,600 -4,937 -3,022
-102
-568
1,077
-29
1,954
165
148
232
821
134
-255 -10,393 -8,549
250 -1,792 -4,279
-372 -3,628
-535
-50 -2,103
515
-647
3,590
1,788
1,492
1,625
416
3,367
2,213
-323
198
1,211
978
407
693
-107
1,563
3,917
1,859
1,410
1,520
1,942
1,054
-105
-168
4
115
-61
-64
92
-90
540
910
1,086
459
483
439
-192
509
959
15
1,337
1,495
-1,498
-1,383
918 -3,003
1,656
3,490 -3,149
85 -3,526 -3,661 -6,193 -2,180 -1,233
-9,071 -15,294 18,965 -6,799 18,813 87,162 -14,449 18,052 23,986 -14,854 -16,925 -4,133
:
2,337 -3,406
:
:

:
-18,465 -2,028 -39,619 -2,647 -22,812 58,201 52,072 -17,788 -1,856 -3,042 -29,244
-4,096 -5,826 -6,181 -4,459 -6,133 -8,715 -15,164 -4,101 -20,960 -5,498 -14,469

51 -2,683
859
3,495
-211 -3,895
2,483
853
134
56
176
74
929
1,294

-525 -1,007

248 -7,406

369

:

:

:

Direct investment - Mio EUR

US

04Q02

04Q03

04Q04

05Q01

05Q02

05Q03

05Q04

06Q01

06Q02

06Q03

06Q04

JP

04Q02

04Q03

04Q04

05Q01

05Q02

05Q03

05Q04

06Q01

06Q02

06Q03

06Q04

60,000

40,000

20,000

0

-20,000

-40,000

0

-5,000

-10,000

-15,000

-20,000

-25,000

217

Section 3.7

MONEY & FINANCE

EUROSTATISTICS

3.7.1.a

Money supply M1
Percentage change on the corresponding period of the previous year (t/t-12)

2006

2007

06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07

EA

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

10.0

9.0

8.0

7.0

6.0

5.0

7.4
-
-
23.8
:
8.2
-
:
-
-
-
-
-
:
:
:

7.6
-
-
27.5
:
8.4
-
:
-
-
-
-
-
:
:
:

6.2
-
-
27.4
:
8.2
-
:
-
-
-
-
-
:
:
:

6.7
-
-
29.5
:
6.4
-
:
-
-
-
-
-
:
:
:

7.9
-
-
29.2
:
:
-
:
-
-
-
-
-
:
:
:

6.6
-
-
34.7
:
:
-
:
-
-
-
-
-
:
:
:

6.5
-
-
32.7
:
:
-
:
-
-
-
-
-
:
:
:

7.4
-
-
31.5
:
:
-
:
-
-
-
-
-
:
:
:

5.9
-
-
32.1
:
:
-
:
-
-
-
-
-
:
:
:

6.0
-
-
28.7
:
:
-
:
-
-
-
-
-
:
:
:

6.5
-
-
32.5
:
:
-
:
-
-
-
-
-
:
:
:

Money supply M1 growth rates (t/t-12)

EA

06m08

06m09

06m10

06m11

06m12

07m01

07m02

07m03

07m04

07m05

07m06

07m07

6.8
-
-
:
:
:
-
:
-
-
-
-
-
:
:
:

10.0

9.0

8.0

7.0

6.0

5.0

Euro area: this series is compiled by the European Central Bank
M1 = currency in circulation + overnight deposits

220

DETAILED TABLES

3.7.1.a

Money supply M1 (continued)
Percentage change on the corresponding period of the previous year (t/t-12)

2006

2007

06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07

-
:
:
-
-
:
-
43.6
:
:
-
-
10.1
-
-
-

-
:
:
-
-
:
-
36.4
:
:
-
-
9.1
-
-
-

-
:
:
-
-
:
-
41.4
:
:
-
-
10.1
-
-
-

-
:
:
-
-
:
-
41.1
:
:
-
-
9.4
-
-
-

-
:
:
-
-
:
-
44.3
:
:
-
-
10.6
-
-
-

-
:
:
-
-
:
-
53.5
:
:
-
-
9.8
-
-
-

-
:
:
-
-
:
-
55.4
:
:
-
-
9.0
-
-
-

-
:
:
-
-
:
-
63.7
:
:
-
-
9.3
-
-
-

-
:
:
-
-
:
-
57.9
:
:
-
-
8.5
-
-
-

-
:
:
-
-
:
-
53.4
:
:
-
-
10.6
-
-
-

-
:
:
-
-
:
-
52.9
:
:
-
-
12.0
-
-
-

-
:
:
-
-
:
-
:
:
:
-
-
12.0
-
-
-

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

221

EUROSTATISTICS

3.7.1.b

Money supply M2
Percentage change on the corresponding period of the previous year (t/t-12)

2006

2007

06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07

EA

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

10.5

10.0

9.5

9.0

8.5

8.0

8.4
-
-
22.5
:
7.4
-
:
-
-
-
-
-
:
:
:

8.6
-
-
24.7
:
7.9
-
:
-
-
-
-
-
:
:
:

8.1
-
-
25.9
:
9.1
-
:
-
-
-
-
-
:
:
:

8.9
-
-
26.4
:
9.1
-
:
-
-
-
-
-
:
:
:

9.5
-
-
26.9
:
:
-
:
-
-
-
-
-
:
:
:

9.0
-
-
29.0
:
:
-
:
-
-
-
-
-
:
:
:

8.8
-
-
27.8
:
:
-
:
-
-
-
-
-
:
:
:

9.7
-
-
28.1
:
:
-
:
-
-
-
-
-
:
:
:

8.7
-
-
29.5
:
:
-
:
-
-
-
-
-
:
:
:

9.3
-
-
27.6
:
:
-
:
-
-
-
-
-
:
:
:

9.7
-
-
28.4
:
:
-
:
-
-
-
-
-
:
:
:

Money supply M2 growth rates (t/t-12)

EA

10.3
-
-
:
:
:
-
:
-
-
-
-
-
:
:
:

10.5

10.0

9.5

9.0

8.5

8.0

06m08

06m09

06m10

06m11

06m12

07m01

07m02

07m03

07m04

07m05

07m06

07m07

Euro area: this series is compiled by the European Central Bank
M2 = M1 + deposits with agreed maturity up to 2 years + deposits redeemable up to 3 months’ notice

222

DETAILED TABLES

3.7.1.b

Money supply M2 (continued)
Percentage change on the corresponding period of the previous year (t/t-12)

2006

2007

06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07

-
:
:
-
-
:
-
27.2
:
:
-
-
11.9
-
-
-

-
:
:
-
-
:
-
22.7
:
:
-
-
12.0
-
-
-

-
:
:
-
-
:
-
22.8
:
:
-
-
12.6
-
-
-

-
:
:
-
-
:
-
23.8
:
:
-
-
13.0
-
-
-

-
:
:
-
-
:
-
28.1
:
:
-
-
14.1
-
-
-

-
:
:
-
-
:
-
24.3
:
:
-
-
13.8
-
-
-

-
:
:
-
-
:
-
27.7
:
:
-
-
13.4
-
-
-

-
:
:
-
-
:
-
28.9
:
:
-
-
14.3
-
-
-

-
:
:
-
-
:
-
28.8
:
:
-
-
14.8
-
-
-

-
:
:
-
-
:
-
23.2
:
:
-
-
15.7
-
-
-

-
:
:
-
-
:
-
22.7
:
:
-
-
15.5
-
-
-

-
:
:
-
-
:
-
:
:
:
-
-
15.4
-
-
-

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

223

EUROSTATISTICS

3.7.1.c

Money supply M3
Percentage change on the corresponding period of the previous year (t/t-12)

2006

2007

06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07

EA

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

12.0

11.5

11.0

10.5

10.0

9.5

9.0

8.5

8.0

7.5

8.2
-
-
22.5
:
9.2
-
:
-
-
-
-
-
:
:
:

8.7
-
-
24.7
:
10.5
-
:
-
-
-
-
-
:
:
:

8.5
-
-
26.0
:
11.9
-
:
-
-
-
-
-
:
:
:

9.4
-
-
26.5
:
11.3
-
:
-
-
-
-
-
:
:
:

10.0
-
-
26.9
:
:
-
:
-
-
-
-
-
:
:
:

10.0
-
-
29.0
:
:
-
:
-
-
-
-
-
:
:
:

10.0
-
-
27.8
:
:
-
:
-
-
-
-
-
:
:
:

11.2
-
-
28.2
:
:
-
:
-
-
-
-
-
:
:
:

10.2
-
-
29.5
:
:
-
:
-
-
-
-
-
:
:
:

10.6
-
-
27.7
:
:
-
:
-
-
-
-
-
:
:
:

11.1
-
-
28.4
:
:
-
:
-
-
-
-
-
:
:
:

Money supply M3 growth rates (t/t-12)

EA

11.6
-
-
:
:
:
-
:
-
-
-
-
-
:
:
:

12.0

11.5

11.0

10.5

10.0

9.5

9.0

8.5

8.0

7.5

06m08

06m09

06m10

06m11

06m12

07m01

07m02

07m03

07m04

07m05

07m06

07m07

Euro area: this series is compiled by the European Central Bank

M3 = M2 + repurchase agreements + money market fund shares/units and money market paper + debt securities issued up to
2 years
The ECB announces a reference value for the annual rate of growth in M3 (currently 4.5% using a 3-month moving average)
as a part of its strategy for maintaining price stability in the euro area.

224

DETAILED TABLES

3.7.1.c

Money supply M3 (continued)
Percentage change on the corresponding period of the previous year (t/t-12)

2006

2007

06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07

-
:
:
-
-
:
-
27.2
:
:
-
-
12.7
-
-
-

-
:
:
-
-
:
-
22.7
:
:
-
-
12.4
-
-
-

-
:
:
-
-
:
-
22.8
:
:
-
-
12.7
-
-
-

-
:
:
-
-
:
-
23.8
:
:
-
-
13.2
-
-
-

-
:
:
-
-
:
-
28.1
:
:
-
-
13.1
-
-
-

-
:
:
-
-
:
-
24.3
:
:
-
-
14.0
-
-
-

-
:
:
-
-
:
-
27.7
:
:
-
-
13.0
-
-
-

-
:
:
-
-
:
-
28.8
:
:
-
-
11.8
-
-
-

-
:
:
-
-
:
-
28.5
:
:
-
-
12.9
-
-
-

-
:
:
-
-
:
-
23.0
:
:
-
-
15.2
-
-
-

-
:
:
-
-
:
-
22.4
:
:
-
-
14.7
-
-
-

-
:
:
-
-
:
-
:
:
:
-
-
15.4
-
-
-

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

225

EUROSTATISTICS

3.7.2

Day-to-day money rate

Average

2006

2007

06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07

EA

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

4.20

4.00

3.80

3.60

3.40

3.20

3.00

2.80

2.60

2.97
-
-
2.94
2.26
3.12
-
:
-
-
-
-
-
2.78
4.63
2.99

3.04
-
-
2.98
2.05
:
-
:
-
-
-
-
-
2.91
3.18
3.10

3.28
-
-
3.19
2.27
:
-
:
-
-
-
-
-
3.16
3.94
3.30

3.33
-
-
3.26
2.41
:
-
:
-
-
-
-
-
3.34
2.43
3.40

3.50
-
-
3.43
2.48
:
-
:
-
-
-
-
-
3.31
2.67
3.52

3.56
-
-
3.53
2.49
:
-
:
-
-
-
-
-
3.41
2.69
3.57

3.57
-
-
3.52
2.47
:
-
:
-
-
-
-
-
3.44
4.42
3.62

3.69
-
-
3.68
2.49
:
-
:
-
-
-
-
-
3.58
3.90
3.81

3.82
-
-
3.81
2.42
:
-
:
-
-
-
-
-
3.60
9.19
4.21

3.79
-
-
3.84
2.20
:
-
:
-
-
-
-
-
3.60
8.85
4.42

3.96
-
-
4.01
2.70
:
-
:
-
-
-
-
-
3.60
4.20
4.42

Day-to-day money rate (%)

EA

4.06
-
-
4.10
2.52
:
-
:
-
-
-
-
-
3.68
2.94
4.44

4.20

4.00

3.80

3.60

3.40

3.20

3.00

2.80

2.60

06m08

06m09

06m10

06m11

06m12

07m01 07m02

07m03 07m04

07m05

07m06

07m07

Euro area series: Until December 1998 it is an aggregate of interbank deposit bid rates weighted by country GDP. Thereafter
the  rate  is  the  EONIA  (Euro  OverNight  Index  Average),  the  effective  overnight  reference  rate  for  the  euro,  computed  as  a
weighted average of all overnight unsecured lending transactions in the interbank market, initiated within the euro area by the
contributing panel banks. EONIA is computed with the help of the European Central Bank.
EU-25 series: Until December 1998, this is a theoretical rate based on an aggregation of day-to-day rates weighted by country
GDP. Thereafter the rate is an average of the EONIA and the rates of the non euro area countries, weighted by country GDP.
National series: broadly speaking, these are day-to-day interbank rates.

226

DETAILED TABLES

3.7.2

Day-to-day money rate (continued)

Average

2006

2007

06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

-
6.73
3.31
-
-
4.03
-
7.92
3.40
4.11
-
2.10
4.86
:
5.25
0.22

-
7.01
3.35
-
-
3.99
-
7.45
3.38
4.85
-
2.10
4.84
:
5.25
0.25

-
7.43
2.74
-
-
4.10
-
7.15
3.41
4.59
-
2.10
4.87
:
:
:

-
7.83
3.75
-
-
3.98
-
8.03
3.32
4.02
-
2.10
5.04
:
:
:

-
7.98
4.54
-
-
4.03
-
5.42
3.28
5.03
-
2.10
5.13
:
:
:

-
7.86
-
-
-
4.01
-
3.19
:
3.63
-
2.10
5.26
:
:
:

-
7.87
3.96
-
-
4.06
-
5.65
:
5.61
-
2.10
5.35
:
:
:

-
8.00
3.94
-
-
4.04
-
9.09
:
3.80
-
2.10
5.35
:
:
:

-
7.80
-
-
-
3.89
-

-
7.79
4.00
-
-
4.33
-
9.59 10.01
:
3.61
-
2.10
5.52
:
:
:

:
2.99
-
2.10
5.35
:
:
:

-
8.37
4.20
-
-
4.37
-
7.78
:
4.68
-
2.10
5.65
:
:
:

-
7.38
4.20
-
-
4.57
-
4.74
:
3.73
-
2.10
5.91
:
:
:

227

EUROSTATISTICS

3.7.3

Short-term interest rates

As a percentage (%)

3-month money market rates (mean)

2006

2007

06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07

EA

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

4.40

4.20

4.00

3.80
3.60
3.40
3.20
3.00

3.23
3.61
-
3.71
2.36
3.33
-
3.32
-
-
-
-
-
3.21
5.07
3.27

3.34
3.71
-
3.74
2.49
3.45
-
3.40
-
-
-
-
-
3.39
4.84
3.38

3.50
3.86
-
3.78
2.65
3.61
-
3.57
-
-
-
-
-
3.62
4.97
3.53

3.60
:
-
3.84
2.64
3.72
-
3.66
-
-
-
-
-
3.80
4.36
3.61

3.68
4.03
-
4.01
2.56
3.84
-
3.81
-
-
-
-
-
3.76
4.21
3.72

3.75
4.11
-
4.06
2.58
3.92
-
3.90
-
-
-
-
-
3.82
3.82
3.79

3.82
:
-
4.09
2.59
3.99
-
3.94
-
-
-
-
-
3.87
5.61
3.87

3.89
4.24
-
4.19
2.56
4.07
-
4.06
-
-
-
-
-
3.97
6.30
4.05

3.98
4.33
-
4.30
2.60
4.16
-
4.42
-
-
-
-
-
3.99
9.32
4.41

4.07
:
-
4.40
2.77
4.28
-
4.69
-
-
-
-
-
3.99
9.99
4.89

4.15
 4.51
-
4.53
2.93
4.37
-
4.74
-
-
-
-
-
3.99
8.09
4.91

Short-term interest rates (%)

EA

4.22
4.59
-
4.69
3.07
4.42
-
4.73
-
-
-
-
-
4.05
6.66
4.97

4.40

4.20

4.00

3.80
3.60
3.40
3.20
3.00

06m08 06m09 06m10

06m11

06m12

07m01

07m02

07m03 07m04

07m05

07m06

07m07

3-month interest rates is a representative short-term interest rate series for the domestic money market.
From January 1999, the euro area rate is the 3-month euro InterBank Offered Rate. EURIBOR is the benchmark rate of the
large euro money market that has emerged since 1999. It is the rate at which euro interbank term deposits are offered by one
prime bank to another prime bank and is published at 11.00 a.m. CET for spot value (T+2 days). The rate was first published on
30 December 1998 for value 4 January 1999.The contributors to EURIBOR are the banks with the highest volume of business
in the euro area money markets. The panel of banks consists of:
·
·
·
Until December 1998, the euro area series is the weighted average of country data. Data are monthly averages.
From January 1999, the 3-month rate of EU-15 is calculated as the weighted average of the 3-month EURIBOR (euro InterBank
Offered Rate) and the 3-month deposit rates of the non-EMU countries. Until December 1998, the EU-15 series is the weighted
average of country data.

 Banks from EU countries participating in the euro from the outset.
 Banks from EU countries not participating in the euro from the outset.
 Large international banks from non-EU countries but with important euro area operations.

228

DETAILED TABLES

3.7.3

Short-term interest rates (continued)

As a percentage (%)

3-month money market rates (mean)

2006

2007

06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

6.0

5.5

5.0

0.8

0.7

0.6

0.5

0.4

0.3

0.2

-
7.11
3.69
-
-
4.19
-
8.72
3.52
4.93
-
2.70
4.94
:
5.42
0.41

-
7.88
3.65
-
-
4.21
-
8.66
3.55
4.95
-
2.83
5.03
:
5.38
0.42

-
8.20
3.62
-
-
4.21
-
8.62
3.55
5.02
-
2.96
5.13
:
5.37
0.44

-
-
3.90
-
-
4.20
-
8.71
3.59
4.94
-
3.08
5.23
:
5.37
0.48

-
8.20
3.90
-
-
4.20
-
8.19
3.67
4.82
-
3.21
5.29
:
5.36
0.56

-
8.15
3.85
-
-
4.20
-
6.69
:
4.50
-
3.35
5.49
:
5.36
0.56

-
-
4.10
-
-
4.20
-
7.13
:
4.60
-
3.43
5.57
:
5.36
0.59

-
8.10
4.18
-
-
4.22
-
7.49
:
4.48
-
3.43
5.55
:
5.35
0.71

-
8.20
4.19
-
-
4.31
-
7.33
:
4.05
-
3.51
5.65
:
5.35
0.66

-
-
4.23
-
-
4.44
-
7.62
:
4.16
-
3.57
5.77
:
5.36
0.67

-
8.02
4.36
-
-
4.52
-
7.26
:
4.27
-
3.67
5.88
:
5.36
0.73

Short-term interest rates (%)

US

06m08 06m09 06m10

06m11

06m12

07m01 07m02

07m03 07m04

07m05

07m06

07m07

JP

06m08

06m09

06m10

06m11

06m12

07m01

07m02

07m03

07m04

07m05

07m06

07m07

-
7.87
4.44
-
-
4.78
-
6.92
:
4.34
-
3.78
6.02
:
5.36
0.77

6.0

5.5

5.0

0.8

0.7

0.6

0.5

0.4

0.3

0.2

229

EUROSTATISTICS

3.7.4

Long-term interest rates

As a percentage (%)

Government bond yields, 10-year (mean)

2006

2007

06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07

EA

EU-27

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

5.0

4.5

4.0

3.5

3.96
4.22
3.92
4.66
3.85
3.93
3.88
4.38
3.88
4.19
3.89
3.90
4.17
4.28
4.36
4.28

3.83
4.11
3.79
4.40
3.90
3.79
3.75
4.51
3.76
4.06
3.76
3.77
4.04
4.28
4.38
4.28

3.86
4.14
3.83
4.26
3.89
3.88
3.79
4.62
3.78
4.08
3.81
3.81
4.07
4.26
4.55
4.28

3.79
4.06
3.76
4.38
3.78
3.78
3.71
4.49
3.72
3.98
3.75
3.74
3.97
4.26
4.95
4.28

3.85
4.10
3.82
4.18
3.68
3.78
3.77
4.70
3.76
4.04
3.82
3.81
4.04
4.26
4.90
4.28

4.10
4.42
4.06
4.27
3.84
4.00
4.02
4.65
4.04
4.28
4.07
4.07
4.26
4.36
4.92
4.28

4.13
4.45
4.11
4.24
3.78
4.05
4.05
5.09
4.07
4.30
4.10
4.10
4.28
4.42
5.07
4.28

4.02
4.36
4.01
4.22
3.76
3.96
3.94
5.13
3.97
4.20
4.01
4.00
4.18
4.47
5.14
4.24

4.23
4.55
4.22
4.28
3.92
4.18
4.15
5.11
4.19
4.40
4.21
4.21
4.37
4.44
5.52
4.18

4.36
4.66
4.34
4.26
4.21
4.34
4.28
5.31
4.32
4.51
4.34
4.34
4.49
4.44
6.03
4.36

4.64
4.94
4.64
4.57
4.53
4.64
4.56
5.42
4.62
4.80
4.62
4.62
4.77
4.44
5.62
4.57

Long-term interest rates (%)

EA

4.60
4.91
4.62
4.79
4.59
4.58
4.50
:
4.59
4.79
4.60
4.58
4.76
4.44
5.28
4.89

5.0

4.5

4.0

3.5

06m08

06m09

06m10

06m11

06m12

07m01

07m02

07m03

07m04

07m05

07m06

07m07

The Maastricht Treaty EMU convergence criterion series for long-term interest rates is shown here. Selection criteria require
data to be based on central government bond yields on the secondary market, gross of tax, with a residual maturity of around
10 years. The bond or the bonds of the basket have to be replaced regularly to avoid any maturity drift.
At  present,  harmonised  long-term  interest  rates  are  available  for  23  of  the  Member  States.  The  most  comparable  indicators
available at the moment for Estonia and Luxembourg, taking into account the specific situation of these two countries, are not
fully harmonised.
The  indicator  for  Estonia  is  based  on  bank  lending  rates  (interest  rates  on  new  EEK-denominated  loans  to  non-financial
corporations and households with maturity over 5 years).
The indicator for Luxembourg is based on a government bond which comes to maturity in 2007.
These indicators are understood to be the best indicators available at present for these two countries. They will be replaced as
soon as a more comparable instrument becomes available.

230

DETAILED TABLES

3.7.4

Long-term interest rates (continued)

As a percentage (%)

Government bond yields, 10-year (mean)

2006

2007

06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07

4.00
7.49
4.34
3.90
3.92
5.62
4.06
7.41
3.92
5.13
3.94
3.84
4.49
-
-
-

3.90
7.58
4.34
3.78
3.80
5.48
3.93
7.48
3.98
4.79
3.80
3.70
4.44
-
-
-

3.95
7.47
4.34
3.82
3.83
5.40
3.98
7.56
4.02
4.42
3.84
3.73
4.51
-
-
-

3.89
7.01
4.34
3.75
3.76
5.20
3.89
7.56
3.99
4.25
3.75
3.62
4.45
-
-
-

3.95
6.81
4.33
3.81
3.80
5.14
3.96
7.42
3.90
4.15
3.82
3.65
4.54
-
-
-

4.17
6.96
4.34
4.05
4.05
5.17
4.18
7.39
4.23
4.25
4.05
3.90
4.94
-
-
-

4.19
6.96
4.38
4.07
4.09
5.19
4.19
7.52
4.34
4.28
4.08
3.93
4.97
-
-
-

4.12
6.79
4.38
3.98
3.98
5.19
4.10
7.53
4.34
4.24
3.98
3.79
4.88
-
-
-

4.33
6.65
4.44
4.19
4.19
5.28
4.30
7.39
4.41
4.26
4.20
4.04
5.10
-
-
-

4.46
6.53
4.61
4.32
4.33
5.29
4.44
7.39
4.49
4.40
4.33
4.15
5.20
-
-
-

4.74
6.71
5.12
4.61
4.62
5.52
4.74
7.05
4.79
4.66
4.62
4.44
5.49
-
-
-

Long-term interest rates (%)

EU-27

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

5.5

5.0

4.5

4.0

3.5

06m08

06m09

06m10

06m11

06m12

07m01

07m02

07m03

07m04

07m05

07m06 07m07

4.83
6.58
5.18
4.57
4.58
5.60
4.73
6.86
4.72
4.70
4.59
4.45
5.46
-
-
-

5.5

5.0

4.5

4.0

3.5

231

EUROSTATISTICS

3.7.5

Index of share prices

Growth index (1995=100)

(mean)

2006

2007

06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07 07m08

EA
EU-15

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV
LT

340

320

300

280

260

240

220

200

290

270

250

230

210

190

-

-

-

-

-

-

-

-

-

-

-

275.0 286.4 292.0 293.3 299.6 304.8 293.3 312.0 320.2 322.1 320.5 304.1
255.4 265.4 267.8 266.8 273.1 277.0 265.2 277.8 283.3 285.3 284.4 269.1
278.6 290.5 294.8 301.6 311.7 316.0 305.8 322.0 329.4 324.3 320.2 294.9
-
330.5 341.7 354.1 364.4 370.5 385.6 379.1 406.9 416.2 420.9 423.5 400.1
399.9 420.4 431.9 440.8 458.5 483.9 463.3 485.6 499.6 491.7 509.6 493.3
276.1 288.2 297.9 303.8 312.9 323.4 313.7 338.0 354.7 368.4 369.1 349.2
-
402.4 419.8 433.8 452.5 464.8 483.6 464.8 474.1 483.9 472.9 449.6 417.6
425.7 440.3 461.6 468.9 500.7 511.5 492.5 517.8 526.5 527.9 543.0 517.5
379.8 411.3 431.6 434.4 441.9 453.4 436.4 456.4 456.8 460.2 458.3 443.9
275.6 285.3 289.3 291.2 298.5 303.8 293.7 311.2 323.3 321.4 319.2 295.8
260.2 268.6 277.6 281.0 287.3 290.9 278.5 293.9 298.0 290.5 287.0 271.7
:
-
221.2 221.2 221.2 221.2 221.2 221.2 221.2 221.2 221.2 221.2 221.2 221.2

:
-

:
-

:
-

:
-

:
-

:
-

:
-

:
-

:
-

:
-

:
-

-

-

-

-

-

-

-

-

-

-

-

Index of share prices growth index (1995=100)

EA

06m09

06m10

06m11

06m12

07m01

07m02

07m03

07m04

07m05

07m06

07m07

07m08

EU-15

06m09

06m10 06m11

06m12 07m01

07m02

07m03

07m04

07m05

07m06

07m07

07m08

340

320

300

280

260

240

220

200

290

270

250

230

210

190

These  indices,  normally  based  on  a  selection  of  shares,  aim  to  represent  share  price  movements  in  stock  markets.  They  are
supplied by various market information providers, and rebased to 1995 = 100. The non-rebased figures can be found in newcron/
theme2/mny/stockmkt/spy for the national share price indices and in newcron/theme2/mny/stockmkt/djstoxx for the European
aggregates.

232

DETAILED TABLES

3.7.5

Index of share prices (continued)

Growth index (1995=100)

(mean)

2006

2007

06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07 07m08

LU
HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US
JP

300

300

290

280

270
260

250

240

230

220

110

100

90

80

70

60

50

:

:

:

:

:

:

:

:

:

:

:
:
1,564.4 1,567.6 1,618.5 1,682.4 1,692.8 1,684.5 1,623.6 1,739.9 1,817.6 1,908.9 2,064.2 1,913.9
486.2
257.9
455.8
757.2
319.9
-
:
243.4
581.9
:
184.4
539.5
294.7
94.7

485.0
264.3
477.1
750.6
299.8
-
:
235.4
554.4
:
191.9
530.4
283.7
100.5

487.5
276.7
489.6
832.6
337.2
-
:
237.6
601.6
:
195.8
590.5
304.3
103.5

483.5
273.3
491.6
825.4
327.6
-
:
229.1
597.1
:
196.9
569.5
300.0
103.6

512.1
237.6
378.2
564.0
251.0
-
446.7
230.4
454.9
:
176.0
430.5
256.6
91.7

497.0
245.9
415.4
623.3
264.5
-
479.0
228.2
487.3
:
184.1
472.2
271.4
92.7

510.0
245.6
402.0
593.2
261.0
-
463.8
231.0
474.1
:
182.1
443.6
266.3
95.1

507.3
254.3
459.6
692.2
297.0
-
:
237.7
536.8
:
189.9
523.5
281.3
102.0

484.8
247.7
454.6
688.7
289.3
-
:
237.0
529.2
:
185.2
506.2
273.1
98.6

500.8
251.6
448.7
662.6
286.0
-
:
236.0
506.8
:
186.1
505.3
278.4
99.4

489.8
268.8
483.1
775.3
313.5
-
:
225.5
577.3
:
196.1
551.4
298.5
101.2

487.0
244.8
441.1
651.6
273.8
-
509.8
236.2
496.8
:
184.2
487.4
275.5
96.6

Index of share prices growth index (1995=100)

US

06m09

06m10

06m11

06m12

07m01

07m02

07m03 07m04

07m05 07m06

07m07 07m08

JP

300

300

290

280

270
260

250

240

230

220

110

100

90

80

70

60

50

06m09

06m10

06m11

06m12

07m01

07m02

07m03

07m04

07m05 07m06

07m07

07m08

233

EUROSTATISTICS

3.7.6

Stock market capitalisation
Billions of Euro

(end of period)

2006

2007

06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07

EA-12

EU-25

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

:

:

:

:

:

:

:

:

:

:

:

323
3
63
:

317
2
62
:

311
2
59
:

300
3
58
:

283
2
53
:

266
2
50
:

278
2
47
:

298
2
56
:

305
3
58
:

283
3
56
:

:
9,300 9,488 9,810 9,844 10,287 10,482 10,321 10,647 10,984 11,370 11,326 10,972
:
3
62
:
1,097 1,126 1,170 1,176 1,242 1,279 1,273 1,319 1,395 1,470 1,448 1,393
:
:
:
120
128
115
152
172
157
972 1,003 1,037 1,011 1,047 1,049 1,129 1,125 1,124
:
785
36
:
:

1,677 1,700 1,743 1,758 1,842 1,840 1,826 1,884 1,983 2,038 2,041
814
798
33
29
:
:
:
:

:
105
133
863

318
3
63
:

:
113
149
960

:
109
141
905

764
12
:
:

784
28
:
:

746
11
:
:

742
9
:
:

733
8
:
:

840
30
:
:

779
12
:
:

801
28
:
:

837
32
:
:

:
121
162

:
125
155

:
130
160

:
124
158

:
135
167

:
129
172

Stock  market  capitalisation  is  an  indication  of  the  size  and  performance  of  stock  markets,  and  therefore  the  importance  of
private investor capital in the economy.

The figures for euro area and for EU total (EU-25) are aggregations of the market capitalisation of the most representative stock
exchanges of each Member State.

234

DETAILED TABLES

3.7.6

Stock market capitalisation (continued)
Billions of Euro

(end of period)

2006

2007

06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

12,000

11,000

10,000

9,000

8,000

7,000

6,000

55
27
4
588
122
92
69
19
8
4
:
:

56
26
4
602
126
92
71
20
8
4
:
:

58
26
4
578
134
102
73
22
11
4
:
:

60
29
3
571
134
111
75
22
11
4
:
:

60
32
3
591
146
113
79
22
12
4
:
:

73
36
4
:
160
150
:
30
19
5
:
:
2,698 2,716 2,832 2,788 2,877 2,897 2,843 2,887 2,907 2,998 2,989 2,885
246
:
3,513 3,493 3,515 3,447 3,503 3,586 3,704 3,557 3,420 3,478 3,466 3,410

252
13,847 14,249 14,655 14,415 14,644 15,050 15,091 14,548 14,827 15,354 15,391

72
37
4
683
166
157
97
28
18
4
:
:

72
33
3
674
167
149
95
24
16
4
:
:

70
32
4
655
160
140
88
25
15
5
:
:

65
30
3
595
148
117
84
23
13
5
:
:

62
30
4
600
152
121
82
23
13
4
:
:

69
30
3
638
155
132
84
23
13
5
:
:

201

225

216

177

191

212

226

234

239

189

Stock market capitalisation - Bn EUR

EU-25

06m08 06m09 06m10 06m11 06m12

07m01

07m02 07m03 07m04

07m05

07m06

07m07

12,000

11,000

10,000

9,000

8,000

7,000

6,000

235

EUROSTATISTICS

3.7.7

Euro exchange rate

EUR 1 =...

(monthly average)

2006

2007

EA
EU-25
BE
BG
CZ
DK
DE
EE
IE
EL
ES
FR
IT
CY
LV
LT

06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07 07m08
-
-
-
-
27.9
7.4
-
15.6
:
-
-
-
-
0.6
0.7
3.5

-
-
-
-
28.3
7.5
-
15.6
:
-
-
-
-
0.6
0.7
3.5

-
-
-
-
27.8
7.5
-
15.6
:
-
-
-
-
0.6
0.7
3.5

-
-
-
-
28.1
7.4
-
15.6
:
-
-
-
-
0.6
0.7
3.5

-
-
-
-
28.0
7.5
-
15.6
:
-
-
-
-
0.6
0.7
3.5

-
-
-
-
28.2
7.5
-
15.6
:
-
-
-
-
0.6
0.7
3.5

-
-
-
-
28.0
7.5
-
15.6
:
-
-
-
-
0.6
0.7
3.5

-
-
-
-
28.5
7.4
-
15.6
:
-
-
-
-
0.6
0.7
3.5

-
-
-
-
28.4
7.5
-
15.6
:
-
-
-
-
0.6
0.7
3.5

-
-
-
-
27.8
7.5
-
15.6
:
-
-
-
-
0.6
0.7
3.5

-
-
-
-
28.2
7.5
-
15.6
:
-
-
-
-
0.6
0.7
3.5

-
-
-
-
28.4
7.4
-
15.6
:
-
-
-
-
0.6
0.7
3.5

Source: ECB

USD 1 =...

(monthly average)

06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07 07m08
0.7
-
-
-
20.5
5.5
-
11.5
-
-
-
-
-
0.4
0.5
2.5

0.8
-
-
-
21.6
5.7
-
12.0
-
-
-
-
-
0.4
0.5
2.6

0.8
-
-
-
20.7
5.5
-
11.6
-
-
-
-
-
0.4
0.5
2.6

0.7
-
-
-
20.7
5.4
-
11.4
-
-
-
-
-
0.4
0.5
2.5

0.8
-
-
-
22.3
5.9
-
12.3
-
-
-
-
-
0.5
0.5
2.7

0.8
-
-
-
21.8
5.8
-
12.1
-
-
-
-
-
0.4
0.5
2.7

0.8
-
-
-
21.0
5.6
-
11.8
-
-
-
-
-
0.4
0.5
2.6

0.8
-
-
-
21.4
5.7
-
12.0
-
-
-
-
-
0.4
0.5
2.7

0.8
-
-
-
20.9
5.5
-
11.6
-
-
-
-
-
0.4
0.5
2.6

0.7
-
-
-
21.3
5.5
-
11.7
-
-
-
-
-
0.4
0.5
2.6

0.8
-
-
-
21.2
5.6
-
11.8
-
-
-
-
-
0.4
0.5
2.6

0.8
-
-
-
22.4
5.9
-
12.4
-
-
-
-
-
0.5
0.6
2.7

EUR/DKK

7.465

9.4

7.460

9.3

7.455

9.2

7.450

9.1

7.445

9.0

EUR/SEK

9.4

9.3

9.2

9.1

9.0

06m09

06m11

07m01

07m03

07m05

07m07

06m09

06m11

07m01

07m03

07m05

07m07

EA
EU-25
BE
BG
CZ
DK
DE
EE
IE
EL
ES
FR
IT
CY
LV
LT

7.465

7.460

7.455

7.450

7.445

7.440

236

DETAILED TABLES

3.7.7

Euro exchange rate (continued)

EUR 1 =...

(monthly average)

2006

2007

LU
HU
MT
NL
AT
PL
PT
RO
SI
SK
FI
SE
UK
NO
US
JP

-

-

-

-

-

-

-

-

-

-

-

0.4
-
-
3.8
-
-

0.4
-
-
3.9
-
-

0.4
-
-
4.0
-
-

06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07 07m08
-
274.4 267.1 258.8 254.0 253.9 253.3 249.9 246.0 248.4 250.3 246.9 255.2
0.4
-
-
3.8
-
-
:
33.6
-
9.3
0.7
8.0
1.4
149.0 149.7 151.1 154.8 156.6 157.6 155.2 160.7 163.2 164.6 166.8 159.1

0.4
-
-
3.8
-
-
239.6 239.6 239.6 239.7
35.0
-
9.0
0.7
8.2
1.3

0.4
-
-
3.8
-
-
:
34.0
-
9.3
0.7
8.1
1.3

0.4
-
-
3.9
-
-
:
33.8
-
9.3
0.7
8.1
1.3

0.4
-
-
3.8
-
-
:
33.7
-
9.2
0.7
8.1
1.4

0.4
-
-
3.9
-
-
:
34.8
-
9.1
0.7
8.3
1.3

0.4
-
-
3.8
-
-
:
33.3
-
9.2
0.7
7.9
1.4

0.4
-
-
3.9
-
-
:
34.5
-
9.2
0.7
8.1
1.3

0.4
-
-
3.8
-
-
:
33.5
-
9.2
0.7
8.1
1.4

36.8
-
9.3
0.7
8.4
1.3

37.5
-
9.3
0.7
8.3
1.3

35.9
-
9.1
0.7
8.2
1.3

Source: ECB

USD 1 =...

(monthly average)

LU
HU
MT
NL
AT
PL
PT
RO
SI
SK
FI
SE
UK
NO
US
JP

0.70

0.68

0.66

-

-

-

-

-

-

-

-

-

-

-

06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06 07m07 07m08
-
215.6 211.8 201.0 192.2 195.3 193.7 188.7 182.0 183.9 186.5 180.0 187.3
0.3
-
-
2.8
-
-
-
24.7
-
6.8
0.5
5.9
-
117.1 118.7 117.3 117.2 120.4 120.5 117.2 118.9 120.8 122.6 121.6 116.8

0.3
-
-
3.1
-
-
-
29.2
-
7.3
0.5
6.7
-

0.3
-
-
2.8
-
-
-
25.3
-
7.0
0.5
6.0
-

0.3
-
-
2.7
-
-
-
24.3
-
6.7
0.5
5.8
-

0.3
-
-
2.8
-
-
-
25.0
-
6.8
0.5
6.0
-

0.3
-
-
3.0
-
-
-
26.7
-
7.0
0.5
6.4
-

0.3
-
-
2.9
-
-
-
25.5
-
7.0
0.5
6.1
-

0.3
-
-
3.0
-
-
-
27.9
-
7.1
0.5
6.4
-

0.3
-
-
3.1
-
-
-
29.5
-
7.3
0.5
6.5
-

0.3
-
-
2.9
-
-
-
26.5
-
6.8
0.5
6.2
-

0.3
-
-
2.8
-
-
-
24.8
-
6.8
0.5
6.0
-

0.3
-
-
3.0
-
-
-
26.4
-
7.0
0.5
6.2
-

EUR/GBP

06m09

06m11

07m01

07m03

07m05

07m07

0.70

0.85

0.68

0.80

0.75

0.66

0.70

UDS/EUR

06m09

06m11

07m01

07m03

07m05

07m07

0.85

0.80

0.75

0.70

237

EUROSTATISTICS

3.7.8

Nominal effective exchange rate
Growth index (1995=100)

(mean)

2006

2007

06m07 06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06

EA-12

EU-25

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

:
-

:
-

:
-

:
-

:
-

111.0 111.1 110.9 110.2 110.9 112.1
-

:
-
106.1 106.0 105.9 105.7 106.0 106.5 106.1 106.2 106.7 107.0 107.0 107.0
-
135.5 136.5 135.6 135.6 136.8 137.7 137.7 135.8 137.1 137.8 137.8 137.8
105.8 105.7 105.8 105.7 105.8 106.2 106.0 106.2 106.8 107.1 107.1 107.1
108.1 108.0 107.9 107.5 107.9 108.6 108.1 108.3 108.9 109.4 109.4 109.4
107.0 107.0 107.0 106.8 106.8 107.1 106.9 107.0 107.8 108.3 108.3 108.3
108.7 108.7 108.5 108.2 108.8 109.7 109.0 109.3 110.0 110.5 110.5 110.5
109.3 109.0 108.9 108.5 108.9 109.4 108.9 109.0 109.6 110.1 110.1 110.1
107.3 107.2 107.1 106.8 107.2 107.6 107.2 107.3 107.8 108.1 108.1 108.1
107.6 107.5 107.4 107.1 107.5 108.1 107.7 107.8 108.4 108.8 108.8 108.8
109.4 109.4 109.2 108.9 109.3 110.0 109.5 109.6 110.2 110.6 110.6 110.6
112.0 111.5 111.3 111.0 111.1 111.4 110.8 110.9 111.4 111.4 111.4 111.4
93.9
136.6 136.5 136.4 136.0 136.3 137.1 136.7 136.9 137.9 138.9 138.9 138.9

94.1

93.8

93.8

93.1

94.2

94.1

93.8

94.0

93.5

93.9

93.9

Euro area : Source ECB  Countries : Source DG ECFIN

Nominal effective exchange rate growth index (1995=100)

EA-12

115

110

105

100

06m07

06m08

06m09

06m10

06m11

06m12

115

110

105

100

Nominal  effective  exchange  rate  indices  measure  changes  in  the  value  of  a  currency  in  terms  of  a  trade-weighted  basket  of
currencies. A rise in the index means a strengthening of the currency.

238

DETAILED TABLES

3.7.8

Nominal effective exchange rate (continued)
Growth index (1995=100)

(mean)

2006

2007

06m07 06m08 06m09 06m10 06m11 06m12 07m01 07m02 07m03 07m04 07m05 07m06

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

96.7

95.8

96.7

106.1 106.0 105.9 105.7 106.0 106.5 106.1 106.2 106.7 107.0 107.0 107.0
99.1 102.4 104.3 104.4 104.7 106.5 108.5 108.5 108.5
108.9 109.0 108.8 108.4 109.0 110.0 109.4 109.6 110.3 110.8 110.8 110.8
105.2 105.1 105.1 104.8 105.0 105.4 105.1 105.2 105.7 105.9 105.9 105.9
105.5 105.4 105.4 105.1 105.3 105.7 105.4 105.5 105.9 106.2 106.2 106.2
110.6 113.1 111.4 112.9 115.3 116.1 113.6 113.3 114.0 115.7 115.7 115.7
104.5 104.4 104.3 104.1 104.3 104.7 104.4 104.5 104.9 105.1 105.1 105.1

-
:

-
:

-
:

-
:

-
86.1

-
86.0

-
86.0

-
86.0

-
86.0

-
86.0

-
:

:
117.6 119.5 120.1 122.0 125.0 127.8 129.1 130.3 133.2 135.1 135.1 135.1
109.0 109.0 109.0 108.6 108.9 109.6 109.2 109.4 110.3 111.1 111.1 111.1
103.0 103.1 102.6 102.5 104.6 105.8 105.1 103.8 103.1 103.5 103.5 103.5
103.6 105.5 105.6 105.7 106.0 107.0 108.2 107.6 106.1 106.9 106.9 106.9
110.2 109.1 105.5 103.4 105.7 107.6 105.2 108.1 108.2 108.6 108.6 108.6
89.8
86.9

91.3
86.5

90.6
88.6

91.6
89.1

91.0
86.3

89.8
86.9

89.8
86.9

JP

US

91.1
90.2
Euro area : Source ECB  Countries : Source DG ECFIN

90.8
91.1

90.8
89.3

91.5
91.7

90.0
89.0

Nominal effective exchange rate growth index (1995=100)

US

06m07

06m08

06m09

06m10

06m11

06m12

07m01

07m02

07m03

07m04

07m05

07m06

JP

06m07

06m08

06m09

06m10

06m11

06m12

07m01

07m02

07m03

07m04

07m05

07m06

94

92

90

88

96

94

92

90
88

86

94

92

90

88

96

94

92

90

88
86

239

EUROSTATISTICS

3.7.9

Real effective exchange rate
Growth index (1995=100)

(mean)

2006

2007

06m03 06m04 06m05 06m06 06m07 06m08 06m09 06m10 06m11 06m12 07m01 07m02

EA-12

EU-25

BE

BG

CZ

DK

DE

EE

IE

EL

ES

FR

IT

CY

LV

LT

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

96.8

98.2

97.9

97.2

101.3 102.4 103.9 104.3 104.5 104.3 104.1 103.5 104.2 105.2
-
102.4 102.8 103.4 103.6 102.5 104.0 103.4 103.4 103.4 103.4
-
127.8 128.4 130.2 130.2 130.3 131.3 129.8 130.4 130.4 130.5
101.9 102.1 102.6 102.8 102.5 102.3 102.7 102.8 102.8 102.8
97.6
106.6 107.0 107.7 108.2 108.7 109.2 108.8 108.9 108.9 109.0
116.3 117.0 118.2 118.4 118.4 119.0 118.3 118.4 118.4 118.4
100.8 101.7 102.4 102.8 101.8 100.4 102.1 102.2 102.3 102.3
109.0 110.5 111.2 111.6 111.0 110.9 110.4 110.6 110.6 110.7
100.9 101.3 102.1 102.2 102.1 102.2 101.7 101.7 101.6 101.6
103.2 104.1 104.9 105.3 105.0 104.5 105.0 105.0 104.9 104.9
105.1 106.0 106.3 106.7 105.5 105.4 106.1 106.1 106.1 106.0
99.0 100.7 100.6 101.1 100.4 101.0 101.3 101.5 101.7
109.6 110.1 110.9 111.2 111.7 111.3 110.9 111.0 111.1 111.1

98.8

97.6

97.6

98.6

98.3

97.6

:
-
:
-
:
:
:
:
:
:
:
:
:
:
:
:

Euro area : Source ECB  Countries : Source DG ECFIN

Real effective exchange rate growth index (1995=100)

EA-12

106

105

104

103

102

101

100

06m03

06m04

06m05

06m06

06m07

06m08

06m09

06m10

06m11

06m12

:
-
:
-
:
:
:
:
:
:
:
:
:
:
:
:

106

105

104

103

102

101

100

Real effective exchange rate indices are a measure of price competitiveness, as they take into account changes in costs or prices
relative to other countries. A rise in the index means a loss of competitiveness.

240

DETAILED TABLES

3.7.9

Real effective exchange rate (continued)
Growth index (1995=100)

06m03 06m04 06m05 06m06 06m07 06m08 06m09 06m10 06m11 06m12 07m01 07m02

(mean)

2006

2007

LU

HU

MT

NL

AT

PL

PT

RO

SI

SK

FI

SE

UK

NO

US

JP

98.4

98.7

98.8

98.6

97.9

98.3

98.4

98.6

98.4

102.4 102.8 103.4 103.6 102.5 104.0 103.4 103.4 103.4 103.4
123.4 121.9 124.8 120.7 118.6 120.8 122.4 122.3 122.3 122.3
106.1 110.8 112.2 112.0 112.5 112.0 111.9 112.0 112.0 112.1
105.7 106.0 106.0 105.8 105.4 105.6 106.0 106.0 106.0 105.9
98.2
116.9 116.4 117.8 114.0 114.7 117.4 115.6 115.9 115.8 115.8
108.2 108.4 109.1 109.1 109.1 108.7 109.0 109.0 109.0 109.0
-
99.5
152.6 153.2 153.1 151.8 150.6 152.8 153.3 154.1 154.1 154.0
97.0
94.9
97.0
105.1 107.9 108.7 107.6 106.4 105.2 103.2 102.0 102.0 102.0
93.2
72.7

97.4
94.2
92.5

97.3
95.9
95.0

97.3
95.6
97.1

97.1
95.0
97.0

97.8
94.8
95.3

97.8
95.9
95.1

96.9
93.1
92.6

97.4
95.9
97.0

97.3
95.0
97.0

-
98.4

-
99.1

-
99.7

-
99.6

-
97.7

-
99.5

-
99.5

-
99.5

-
99.6

94.0
75.0

93.1
75.0

92.9
73.6

93.1
72.8

94.3
75.7

91.8
77.5

93.3
75.8

92.5
74.3

93.1
72.9

:
:
:
:
:
:
:
-
:
:
:
:
:
:
:
:

Euro area : Source ECB  Countries : Source DG ECFIN

Real effective exchange rate growth index (1995=100)

US

06m03

06m04

06m05

06m06

06m07

06m08

06m09

06m10

06m11

06m12

JP

06m03

06m04

06m05

06m06

06m07

06m08

06m09

06m10

06m11

06m12

95

94

93

92

91

90

78

76

74

72

70

:
:
:
:
:
:
:
-
:
:
:
:
:
:
:
:

95

94

93

92

91

90

78

76

74

72

70

241