Eurostatistics. Data for short-term economic analysis . Issue number 1, 2013.
Date: 2013-01-16
Institutions: Eurostat
Subjects: EU statistics, economic analysis, economic situation, economic statistics, short-term economic prospects

ISSN 1831-3221

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 01/2013

2013 edition

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Theme: General and regional statistics
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© European Union, 2013
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Table of Contents

Section 1 Summary analysis ........................................................................................................................4

Editorial ............................................ ....................................................................................................................................... 5

Latest macroeconomic developments .......................................................................................................................... 6

Growth forecasts for the euro area ................................................................................................................................. 7

Cyclical indicators for the euro area ............................................................................................................................... 9

Latest cyclical estimates for the euro area and the EU  .........................................................................................12

Methodological notes ........  ..............................................................................................................................................15

Section 2 Principal European Economic Indicators (PEEIs) ........................................................18

Detailed PEEIs analysis for European Union ..............................................................................................................19

Detailed PEEIs analysis for euro area  ...........................................................................................................................21

Detailed PEEIs analysis by countries .............................................................................................................................23

Cross-country comparisons .............................................................................................................................................85

Symbols and codes in the tables ...................................................................................................................................87

  Eurostatistics — 01/2013 edition

3

Section I

Summary analysis

Summary analysis

1

Editorial 

A complete overview of the activity in 2012 will be possible with the release of the growth 
of  Q4  in  February-March  2013.  But  a  first  approach  of  the  main  points  of  the  economic 
situation of 2012 is already possible. Uncertainty has been the overarching element of last 
year. Concerns were about the level of contraction of growth that will be realized by the 
major  economies.  Under  this  constraint  of  slow  activity  from  the  developed  economies, 
uncertainty was also about the level of growth in the emerging countries. The ‘fiscal cliff’ 
has  also  been  (and  is  still)  a  major  concern  for  the  US  and  for  the  global  economy.  The 
sovereign-debt crisis heightened in the second half of 2011 rendering possible all types of 
scenarios for the euro area. In 2012 central banks in many major economies set up policies 
to limit the diffusion of the financial crisis to the real economy and/or to boost the growth 
with a special mention to the ECB and the Federal Reserve. In Europe, the ECB broke this 
escalation  of  uncertainty  about  the  future  of  the  euro  area  with  its  Outright  Monetary 
Transactions (OMT). In the US, the Federal Reserve set the objective to curb unemployment 
by buying mortgage-backed securities and other assets without limit. 

2012  will  also  be  at  European  level,  the  first  complete  year  of  the  implementation  of  the 
Macro-economic Imbalance Procedure initiated by the European institutions.  The 2008-
09 crisis has revealed the necessity to reinforce the economic governance of the EMU. The 
so called “six pack” legislation established a new surveillance procedure for the prevention 
and correction of macro-economic imbalances.  The GDP second estimate revised upward 
the growth rate of the US economy in Q3 2012 to +0.8% (+0.3% in Q2 2012). Compared to 
Q3 2011, the rate is +2.6%. The economy of China grew more in Q3 2012 (+2.2%) than in 
Q2 2012 (+2.0%). Compared to Q3 2011, the growth rate is +7.4%. India recorded a growth 
rate of + 0.6% in Q3 2012, the same as in Q2 2012. Compared to Q3 2011, the growth rate 
is +3.2%.  In Brazil the economy grew at a rate of +0.6% in Q3 2012 (+0.2% in Q2 2012). 
Compared to Q3 2011, the rate is +1.0%. For Russia, the fourth BRIC country, a growth rate 
of +0.8% was recorded in Q3 2012 (+0.4% in Q2 2012). Compared to Q3 2011, the growth 
rate is +3.4%.

As  concerns  the  economic  situation  in  Europe,  the  euro  area  is  officially  in  recession 
with a second negative growth rate in a row of -0.1% in Q3 2012 after -0.2% in Q2 2012 as 
confirmed by the third estimate. The last recession in the euro area was recorded during 
the  period  Q2  2008  to  Q2  2009.  For  EU  as  a  whole,  the  growth  rebounded  in  Q3  2012 
with rate of +0.1%, after -0.2% in Q2 2012.  Concerning the annual HICP inflation rate, in 
December 2012 the flash estimate for the euro area was +2.2 %, the same as in November 
2012.Growth continued to show different patterns among the five largest EU economies in 
Q3 2012. Germany showed up a growth rate of +0.2% in Q3 2012 after +0.3% in Q2 (+0.9% 
on annual rate). The growth rate of France has been revised to +0.1% in Q3 2012 (+0.1% 
at an annual rate). Italy, with a growth rate of -0.2 % in Q3 2012 (-2.4% on annual basis), 
is still in recession after -0.7% in Q2 2012. Spain remains also in recession with a growth 
rate of -0.3% in Q3 2012 (-1.6% on annual basis) after -0.4% in Q2 2012. The UK ended its 
recession period with a growth rate of +0.9% in Q3 2012, after -0.4% in Q2 2012 (0.0% on 
annual basis). 

Concerning other European countries, economic activity grew in Q3 2012 compared to Q2 
2012 in Bulgaria +0.1% (+0.5% on annual basis), Denmark +0.3% (-0.4% on annual basis), 
Estonia +1.6% (+3.7% on annual basis), Ireland +0.2% (+0.8% on annual basis), Latvia +1.7% 
(+5.2% on annual basis), Lithuania +1.3% (+3.3% on annual basis), Malta +0.9% (+2.0% on 
annual basis), Austria +0.1% (+0.7%on annual basis), Poland +0.4% (+1.9% on annual basis), 
Slovakia +0.6% (+2.5% on annual basis) and Sweden +0.5% (+0.7% on annual basis). The 
Netherlands and Portugal recorded the highest negative growth rate in Q3 2012 with -0.9% 
(-1.3% and -3.5% respectively on annual rate).To sum up: Q3 showed up some positive signs 
notably for countries like the US and China that are very important to the global economy. 
The challenge ahead in the short term for the statistics of Q4 2012 is the confirmation of 
these results.

  Eurostatistics — 01/2013 edition

5

1

Summary analysis

Latest 
macroeconomic 
developments
Evolution of GDP

Industrial 
production

Construction 
production

Retail trade

Recently released data continue to give evidence of weak economic activity

GDP fell by 0.1% in the euro area (EA17) and increased by 0.1% in the EU27 during the third 
quarter of 2012, compared with the previous quarter, according to second estimates. In the 
second quarter of 2012, growth rates were -0.2% in both zones. Compared with the same 
quarter of the previous year, not seasonally adjusted GDP fell by 0.8% in the euro area and 
by 0.5% in the EU27 in the third quarter of 2012, after -0.8% and -0.7% respectively in the 
previous quarter.

In October 2012 compared with September 2012, seasonally adjusted industrial production 
fell  by  1.4%  in  the  euro  area  (EA17)  and  by  1.0%  in  the  EU27.  In  September  production 
decreased  by  2.3%  and  2.1%  respectively.  In  October  2012  compared  with  October  2011, 
industrial production dropped by 3.6% in the euro area and by 3.1% in the EU27.

In  the  construction  sector,  seasonally  adjusted  production  fell  by  1.6%  in  the  euro  area 
(EA17), while it rose by 1.6% in the EU27 in October 2012. In September 2012, production 
decreased  by  1.3%  and  1.6%  respectively.  Compared  with  October  2011,  production  in 
October 2012 dropped by 4.1% in the euro area and by 4.4% in the EU27.

In November 2012 compared with October 2012, the volume of retail trade rose by 0.1% in 
the euro area (EA17) and by 0.2% in the EU27. In October retail trade fell by 0.7% in both 
zones. In November 2012, compared with November 2011, the retail sales index dropped by 
2.6% in the euro area and by 1.3% in the EU27.

Inflation

Euro  area  annual  inflation  is  expected  to  be  2.2%  in  December  2012,  the  same  as  in 
November, according to a flash estimate. Euro area annual inflation was 2.2% in November 
2012, down from 2.5% in October. A year earlier the rate was 3.0%. Monthly inflation was 
-0.2% in November 2012. EU annual inflation was 2.4% in November 2012, down from 2.6% 
in October. A year earlier the rate was 3.3%. Monthly inflation was -0.1% in November 2012.

Unemployment

Interest rates

The  euro  area  (EA17)  seasonally-adjusted  unemployment  rate  was  11.8%  in  November 
2012,  up  from  11.7%  in  October.  The  EU27  unemployment  rate  was  10.7%  in  November 
2012, stable compared with October. In both zones, rates have risen markedly compared 
with November 2011, when they were 10.6% and 10.0% respectively. Eurostat estimates that 
26.061 million men and women in the EU27, of whom 18.820 million were in the euro area, 
were unemployed in November 2012. Compared with October 2012, the number of persons 
unemployed increased by 154 000 in the EU27 and by 113 000 in the euro area. Compared 
with November 2011, unemployment rose by 2.012 million in the EU27 and by 2.015 million 
in the euro area.

Global short-term interest rates remained at very low levels in December. In the euro area, 
the  ECB’s  official  interest  rate  on  main  refinancing  operations  has  stayed  at  0.75%  since 
July,  while  the  key  official  rates  of  the  US  Federal  Reserve  and  Bank  of  Japan  have  been 
held at 0.25% and 0.1% respectively since end 2008. The UK’s official bank rate has been 
unchanged at 0.5% since March 2009. The euro area’s 3-month rate, Euribor, fell to a record 
monthly average low of 0.19% in both November and December. Long-term interest rates 
(average  weighted  10-year  government  bond  yield)  of  EU27  and  the  euro  area  continued 
their  downward  trend  in  November,  falling  to  3.24%  and  3.47%  respectively.  The  yield 
differential between member states narrowed further, ranging from 1.11% in Denmark to 
17.2% in Greece.

Exchange rates

In  December  the  euro  appreciated  against  the  US  dollar  to  a  monthly  average  of  USD 
1.3119, the highest level since April. It also gained value against the Japanese yen and pound 
sterling, to JPY 109.71 and GBP 0.81237 respectively.

6

Eurostatistics — 01/2013 edition 

Summary analysis

1

Growth forecasts 
for the euro area

Forecasts suggest that 
recession in the euro 
area will continue well 
into 2013

The  January  results  of  the  Eurogrowth  indicator,  calculated  by  Euroframe,  provide  few 
reasons for optimism. Real GDP growth is not expected to recover, although latest forecasts 
indicate  that  the  decline  in  economic  activity  would  come  to  an  end  at  the  turn  of  2012 
and 2013. Given the uncertainty around the estimates, those results should be taken with 
caution  since  they  rely  on  a  very  recent  rebound  of  manufacturing  survey  which  cannot 
be taken as a reliable signal for an upturn. Such developments in business surveys already 
occurred at the turn of 2011 and 2012, yet they provided a false signal for a positive GDP 
growth rate in 2012 Q1. 

The contribution of the industry survey moves up a little bit, but it is still negative so that 
no  positive  impulse  to  GDP  growth  is  expected  from  this  sector  in  the  near  term.  The 
construction survey is rather neutral. Stock prices have recovered from their trough in late 
spring of last year, driving up the growth rate, while the contribution of the real exchange 
rate of the euro against the dollar has been slightly positive for five quarters. On the negative 
side,  the  households  are  still  quite  pessimistic  so  that  the  contribution  of  the  confidence 
indicator further worsens from already very low levels. 

It is obviously too early to say that the crisis is over, but some very preliminary evidence 
suggests that the bulk of the negative developments the euro area experienced for one year 
would come to an end. The key role played by the European Central Bank last summer - 
the  announcement  of  the  Outright  Monetary  Transactions  -  has  probably  been  a  major 
contribution to solving the problem by getting the financial system rid of the sovereign debt 
risk. However, the growth path in the euro area still suffers the drastic budget consolidation 
implemented by member countries. As long as fiscal policies in the euro area are constrained 
by the reduction of deficits and debt ratio, the restrictive effects of fiscal tightening will not 
improve the near-term outlook.

In December the €-coin indicator remained substantially stable, at negative levels, for the 
fifth month running (-0.27%, as against -0.29% in November). The indicator was buoyed up 
by the results of the business opinion surveys conducted, which were less unfavourable than 
in the past, and by the easing of the tensions on financial markets; on the other hand the 
indicators of activity in the manufacturing sector continued to be weak.

The IRC’s coincident indicator for the euro area estimates quarter-on-quarter GDP growth 
at  -0.27%  in  Q3  2012  and  -0.31%  in  Q4  2012.  The  annual  pace  of  growth  in  Q4  2012  is 
estimated at -0.6%.

For a description of the sources and methods on the indicators of growth and turning points 
, see the Methodological notes at the end of this section.

  Eurostatistics — 01/2013 edition

7

1

Summary analysis

Comparison of GDP growth forecasts for the euro area

Percentage change

Over previous quarter (q/q-1)

Over previous year (q/q-4)

2012Q2

2012Q3

2012Q4

2013Q1

2012Q2

2012Q3

2012Q4

2013Q1

EUROSTAT release

Consensus forecast

November

EUROFRAME

EuroCOIN

IRC

-0.2

:

0

-0.1

-0.1

-0.1

:

-0.2

-0.3

-0.3

:

-0.2

0

-0.3

-0.3

:

0.1

0

:

:

-0.5

:

-0.3

-0.4

-0.4

-0.6

:

-0.8

-0.8

-0.8

:

-0.5

-0.2

-0.6

-0.6

:

-0.4

-0.2

:

:

Quarter-over-quarter GDP growth indicators (q/q-1)

Year-over-year GDP growth indicators (q/q-4)

% change over 
previous 
quarter

0.2

0.1

0.0

-0.1

0.2
-0 2

-0.3

-0.4

2011Q3 2011Q4 2012Q1 2012Q2 2012Q3 2012Q4 2013Q1

% change over 
previous year

1.5

1.0

0.5

0.0

-0.5

-1.0

2011Q3 2011Q4 2012Q1 2012Q2 2012Q3 2012Q4 2013Q1

Consensus

GDP release

Euroframe

IRC

EuroCoin

Consensus

GDP release

Euroframe

IRC

EuroCoin

8

Eurostatistics — 01/2013 edition 

Summary analysis

1

Cyclical indicators 
for the euro area

Business Climate 
Indicator increases 
slightly in December

In  December  2012,  the  Business  Climate  Indicator  (BCI)  for  the  euro  area  increased 
slightly by 0.05 points to -1.12. The improvement was driven by more positive assessments of 
production expectations and order books (overall and export), while managers’ assessments 
of past production and the adequacy of their stocks of finished products remained broadly 
stable.

The OECD Composite leading indicators (CLIs) for the euro area points to a stabilisation 
in growth prospects. The CLI increased to 99.5 in November, up from 99.4 in October. 

The Ifo Economic Climate Indicator for the euro area continued to fall in the fourth quarter 
of  2012.  While  assessments  of  the  current  economic  situation  deteriorated  only  slightly, 
the six-month economic outlook was significantly more negative. Survey participants cited 
“public budget deficits” as the main reason for the difficult economic situation in the euro 
area.  A  lack  of  demand  and  high  unemployment  were  ranked  as  the  next  most  serious 
current economic problems in the euro area. There are no signs of an economic recovery on 
the horizon yet. Inflation estimates for 2012 in the euro area increased somewhat from 2.2% 
to 2.4% per annum.

In Greece, Italy, Portugal, Spain and Cyprus assessments of the current economic situation 
remain  at  recession  level.  The  experts  also  continued  to  assess  the  situation  in  Belgium, 
France,  Ireland,  the  Netherlands  and  Slovenia  as  unfavourable.  In  Germany,  the  current 
economic  situation  was  reportedly  somewhat  poorer  than  in  the  previous  quarter,  but 
remains  satisfactory.  The  same  can  be  said  of  Estonia  and  Slovakia.  In  Finland,  on  the 
other  hand,  assessments  of  the  current  economic  situation  veered  from  “satisfactory”  to 
“unfavourable”. The six-month economic outlook continued to deteriorate in most member 
countries compared to last quarter, and participants do not expect the current economic 
situation to improve on balance. Ireland, the Netherlands and Estonia are the only countries 
where expectations for the next six months are positive. 

The DZ-Euroland indicator has shown little movement in recent months. It increased to 
94.46 in December 2012, up from 93.95 in November, its highest level since April 2012. 

The IARC indicator of turning points has switched, since September 2011, from searching 
for a peak in activity to searching for a trough for the slowdown.  In December 2012 the 
indicator recorded 87.7, up from 69.1 in November, above the threshold of 80 suggesting a 
possible upswing in economic activity within the next three months. There was a false alarm 
of rebound at the beginning of last year but this time, the signal is given after five quarters 
of  recession.  Financial  variables  are  positively  oriented.  Short-term  interest  rates  are  at 
an historical low level of 0.2 % and the stock market is bullish. Survey results concerning 
the intermediate goods in the industry are slightly better since November and prospects 
on  prices  are  less  negative.  The  economic  rationale  for  a  rebound  is  weak  so  caution  is 
needed, but the global world-wide environment is still supportive and, above all, financial 
uncertainty in the euro area is decreasing.

The start-end recession indicator, IESR, is above the 0.5 threshold since October 2011. The 
IESR  converged  towards  1  in  April  2012  and  receded  thereafter  to  0.52  in  August.  Since 
then, the IESR has increased again to reach an estimated 0.91 in November and probably 
close  to  1  in  December.  The  reinforcement  of  the  recession  index  is  due  to  a  confirmed 
renewed fall of the industrial production (even if the provisional figure for November rather 
shows a stabilisation), another slide in household confidence and a continuous drop in car 
registers. The underlying growth rate (IRC) in December 2012 stands at -1.3 % at an annual 
rate.

  Eurostatistics — 01/2013 edition

9

1

Summary analysis

Comparison of indicators of turning points in the business cycle for the euro area

OECD-CLI

DZ-Euroland indicator

Index

Index

DG ECFIN Business Climate Indicator Points of std-dev.

2012M8

2012M9

2012M10

2012M11

2012M12

99.4

94.03

-1.15

99.4

94.19

-1.31

99.4

93.73

-1.60

99..5:

93.95

-1.17

:

94.46

-1.12

2012Q1

2012Q2

2012Q3

2012Q4

IFO

84.8

100.3

88.9

81.7

DZ-Euroland and IFO Business climate Indicators

DG-ECFIN Business climate Indicator

% change over 
previous year

Index 1995=100

In %

In %

6

4

2

0

-2

-4

-6

-8

-10

-12

2004

2005

2006

2007

2008

2009

2010

2011

2012

DZ-Euroland-Indicator (left-hand scale)

Y-O-Y GDP growth rate (left-hand scale)

IFO Indicator (right-hand scale)

140

130

120

110

100

90

80

70

60

50

10

5

0

-5

-10

-15

-20

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Y-O-Y growth rate of the industrial production index (left-hand scale, excl. construction)

DG-ECFIN business climate indicator (right-hand scale)

2

1

0

-1

-2

-3

-4

OECD Leading Indicator

T

104

Jan
1999

P

Jan
2001

T

July
2003

T: trough / P: peak
in the reference series

P

T

Feb
2008

June
2009

P

June
2011

102

100

98

96

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

Detrended GDP

OECD indicator

10

Eurostatistics — 01/2013 edition 

Summary analysis

1

Turning point indicators for the euro area

2012M7

2012M8

2012M9

2012M10

2012M11

2012M12

IARC

IESR

Probability index

Probability index

60.7

0.69

67.5

0.59

62.7

0.66

64.7

0.79

69.1

0.91

87.7

:

IARC indicator

100

90

80

70

60

50

40

30

20
20

10

0

Probability for a peak

Probability for a trough

1
1
-
r
r
a
M

1
1
-
r
r
p
A

1
1
-
y
y
a
M

1
1
-
n
n
u
J

1
1
-
l
l
u
J

1
1
-
g
g
u
A

1
1
-
p
p
e
S

1
1
-
t
t
c
O

1
1
-
v
v
o
N

1
1
-
c
c
e
D

2
1
-
n
n
a
J

2
1
-
b
b
e
F

2
1
-
r
r
a
M

2
1
-
r
r
p
A

2
1
-
y
y
a
M

2
1
-
n
n
u
J

2
1
-
l
l
u
J

2
1
-
g
g
u
A

2
1
-
p
p
e
S

2
1
-
t
t
c
O

2
1
-
v
v
o
N

2
1
-
c
c
e
D

Over 80: strong probability of a turning point in the coming three months

Between 60 and 80: possibility of a turning point in the nine coming months

g p

p

g

y

IESR indicator

1.0

0.5

0.0

1
1
-
l
u
J

1
1
-
g
u
A

1
1
-
p
e
S

1
1
-
t
c
O

1
1
-
v
o
N

1
1
-
c
e
D

2
1
-
n
a
J

2
1
-
b
e
F

2
1
-
r
a
M

2
1
-
r
p
A

2
1
-
y
a
M

2
1
-
n
u
J

2
1
-
l
u
J

2
1
-
g
u
A

2
1
-
p
e
S

2
1
-
t
c
O

2
1
-
v
o
N

Recession period whenever probability index >0.5

  Eurostatistics — 01/2013 edition

11

1

Summary analysis

Latest cyclical estimates for the euro area and the EU 

GDP cycle

The estimation is based on GDP at market prices, in millions of euro, chain-linked volumes, seasonally 
adjusted and working day adjusted, reference year 2000 (at 2000 exchange rates).

EA GDP, trend and cycle with HP filter

EU27 GDP, trend and cycle with HP filter

(GDP, Trend)
2000000

1850000

1700000

1550000

1400000

(Cycle)
80000

(GDP, Trend)
2800000

60000

40000

20000

0

-20000

-40000

2650000

2500000

2350000

2200000

2050000

-60000

1900000

1
Q
5
9
9
1

1
Q
6
9
9
1

1
Q
7
9
9
1

1
Q
8
9
9
1

1
Q
9
9
9
1

1
Q
0
0
0
2

1
Q
1
0
0
2

1
Q
2
0
0
2

1
Q
3
0
0
2

1
Q
4
0
0
2

1
Q
5
0
0
2

1
Q
6
0
0
2

1
Q
7
0
0
2

1
Q
8
0
0
2

1
Q
9
0
0
2

1
Q
0
1
0
2

1
Q
1
1
0
2

1
Q
2
1
0
2

1
Q
5
9
9
1

1
Q
6
9
9
1

1
Q
7
9
9
1

1
Q
8
9
9
1

1
Q
9
9
9
1

1
Q
0
0
0
2

1
Q
1
0
0
2

1
Q
2
0
0
2

1
Q
3
0
0
2

1
Q
4
0
0
2

1
Q
5
0
0
2

1
Q
6
0
0
2

1
Q
7
0
0
2

1
Q
8
0
0
2

1
Q
9
0
0
2

1
Q
0
1
0
2

1
Q
1
1
0
2

1
Q
2
1
0
2

GDP

Trend 

Cycle

GDP

Trend 

Cycle

EA GDP, trend and cycle with CF filter
(GDP, Trend)

2000000

1850000

1700000

1550000

1400000

1
Q
5
9
9
1

1
Q
6
9
9
1

1
Q
7
9
9
1

1
Q
8
9
9
1

1
Q
9
9
9
1

1
Q
0
0
0
2

1
Q
1
0
0
2

1
Q
2
0
0
2

1
Q
3
0
0
2

1
Q
4
0
0
2

1
Q
5
0
0
2

1
Q
6
0
0
2

1
Q
7
0
0
2

1
Q
8
0
0
2

1
Q
9
0
0
2

1
Q
0
1
0
2

1
Q
1
1
0
2

1
Q
2
1
0
2

EU27 GDP, trend and cycle with CF filter
(GDP, Trend)
2800000

2650000

2500000

(Cycle)

80000

60000

40000

20000

0

2350000

-20000

-40000

-60000

-80000

2200000
2200000

2050000

1900000

1
Q
5
9
9
1

1
Q
6
9
9
1

1
Q
7
9
9
1

1
Q
8
9
9
1

1
Q
9
9
9
1

1
Q
0
0
0
2

1
Q
1
0
0
2

1
Q
2
0
0
2

1
Q
3
0
0
2

1
Q
4
0
0
2

1
Q
5
0
0
2

1
Q
6
0
0
2

1
Q
7
0
0
2

1
Q
8
0
0
2

1
Q
9
0
0
2

1
Q
0
1
0
2

1
Q
1
1
0
2

1
Q
2
1
0
2

GDP

Trend 

Cycle

GDP

Trend 

Cycle

EA GDP, trend and cycle with UC filter
(GDP, Trend)
2000000

EU27 GDP, trend and cycle with UC filter
(GDP, Trend)
2800000

2650000

2500000

2350000

2200000

(Cycle)
80000

60000

40000

20000

0

-20000
20000

-40000

2050000

-60000

1900000

1
Q
5
9
9
1

1
Q
6
9
9
1

1
Q
7
9
9
1

1
Q
8
9
9
1

1
Q
9
9
9
1

1
Q
0
0
0
2

1
Q
1
0
0
2

1
Q
2
0
0
2

1
Q
3
0
0
2

1
Q
4
0
0
2

1
Q
5
0
0
2

1
Q
6
0
0
2

1
Q
7
0
0
2

1
Q
8
0
0
2

1
Q
9
0
0
2

1
Q
0
1
0
2

1
Q
1
1
0
2

1
Q
2
1
0
2

1
Q
5
9
9
1

1
Q
6
9
9
1

1
Q
7
9
9
1

1
Q
8
9
9
1

1
Q
9
9
9
1

1
Q
0
0
0
2

1
Q
1
0
0
2

1
Q
2
0
0
2

1
Q
3
0
0
2

1
Q
4
0
0
2

1
Q
5
0
0
2

1
Q
6
0
0
2

1
Q
7
0
0
2

1
Q
8
0
0
2

1
Q
9
0
0
2

1
Q
0
1
0
2

1
Q
1
1
0
2

1
Q
2
1
0
2

GDP

Trend 

Cycle

GDP

Trend 

Cycle

1850000

1700000

1550000

1400000

(Cycle)
100000

80000

60000

40000

20000

0

-20000

-40000
40000

-60000

-80000

-100000

(Cycle)
100000

80000

60000

40000

20000

0

-20000

-40000

-60000

-80000

-100000

(Cycle)
150000

100000

50000

0

-50000

-100000

12

Eurostatistics — 01/2013 edition 

Summary analysis

1

The estimation is based on monthly industrial production index (excluding construc-
tion), seasonally-adjusted volumes (year 2005=100)

Industrial production cycle

EA IPI,trend and cycle with HP filter

EU27 IPI, trend and cycle with HP filter

(IPI, Trend)

115

110

105

100

95

90

85

80

75

(Cycle)
15

10

5

0

-5

-10

-15

(IPI, Trend)

115

110

105

100

95

90

85

80

75

1
0
M
1
9
9
1

1
0
M
3
9
9
1

1
0
M
5
9
9
1

1
0
M
7
9
9
1

IPI

1
0
M
9
9
9
1

1
0
M
1
0
0
2

1
0
M
3
0
0
2

1
0
M
5
0
0
2

1
0
M
7
0
0
2

1
0
M
9
0
0
2

1
0
M
1
1
0
2

1
M
5
9
9
1

1
M
7
9
9
1

1
M
9
9
9
1

1
M
1
0
0
2

1
M
3
0
0
2

1
M
5
0
0
2

1
M
7
0
0
2

1
M
9
0
0
2

1
M
1
1
0
2

Trend 

Cycle

IPI

Trend 

Cycle

EA IPI, trend and cycle with CF filter

(IPI, Trend)
115

110

105

100

95

90

85

80

75

EU27 IPI, trend and cycle with CF filter
(IPI, Trend)
115

(Cycle)
10

5

0

-5

-10

-15

110

105

100

95

90

85

80

75

1
0
M
1
9
9
1

1
0
M
3
9
9
1

1
0
M
5
9
9
1

1
0
M
7
9
9
1

IPI

1
0
M
9
9
9
1

1
0
M
1
0
0
2

1
0
M
3
0
0
2

1
0
M
5
0
0
2

1
0
M
7
0
0
2

1
0
M
9
0
0
2

1
0
M
1
1
0
2

1
M
5
9
9
1

1
M
7
9
9
1

1
M
9
9
9
1

1
M
1
0
0
2

1
M
3
0
0
2

1
M
5
0
0
2

1
M
7
0
0
2

1
M
9
0
0
2

1
M
1
1
0
2

Trend 

Cycle

IPI

Trend 

Cycle

EA IPI, trend and cycle with UC filter

(IPI, Trend)

115

110

105

100

95

90

85

80

75

1
0
M
1
9
9
1

1
0
M
3
9
9
1

1
0
M
5
9
9
1

1
0
M
7
9
9
1

IPI

EU27 IPI, trend and cycle with UC filter
(IPI, Trend)

115

110

105

100

95

90

85

80

75

(Cycle)
10

5

0

-5

-10

-15

1
M
5
9
9
1

1
M
7
9
9
1

1
M
9
9
9
1

1
M
1
0
0
2

1
M
3
0
0
2

1
M
5
0
0
2

1
M
7
0
0
2

1
M
9
0
0
2

1
M
1
1
0
2

1
0
M
9
9
9
1

1
0
M
1
0
0
2

1
0
M
3
0
0
2

1
0
M
5
0
0
2

1
0
M
7
0
0
2

1
0
M
9
0
0
2

1
0
M
1
1
0
2

Trend 

Cycle

IPI

Trend 

Cycle

(Cycle)
10

5

0

-5

-10

-15

(Cycle)
10

5

0

-5

-10

-15

(Cycle)
10

5

0

-5

-10

-15

  Eurostatistics — 01/2013 edition

13

1

Summary analysis

Employment cycle

The estimation is based on total employment (domestic concept) series, seasonally-adjusted 
and working day-adjusted (in thousand of persons)

EA Employment, trend and cycle with HP filter

EU27 Employment, trend and cycle with HP filter

(Employment, 
Trend)
150000

145000

140000

135000

130000

125000

120000

115000

(Cycle)

4000

3000

2000

1000

0

-1000

-2000

-3000

(Employment, 
Trend)
235000

230000

225000

220000

215000

210000

205000
205000

200000

195000

190000

(Cycle)

4000

3000

2000

1000

0

-1000

2000
-2000

-3000

-4000

-5000

1
Q
0
0
0
2

1
Q
1
0
0
2

1
Q
2
0
0
2

1
Q
3
0
0
2

1
Q
4
0
0
2

1
Q
5
0
0
2

1
Q
6
0
0
2

1
Q
7
0
0
2

1
Q
8
0
0
2

1
Q
9
0
0
2

1
Q
0
1
0
2

1
Q
1
1
0
2

1
Q
2
1
0
2

1
Q
0
0
0
2

1
Q
1
0
0
2

1
Q
2
0
0
2

1
Q
3
0
0
2

1
Q
4
0
0
2

1
Q
5
0
0
2

1
Q
6
0
0
2

1
Q
7
0
0
2

1
Q
8
0
0
2

1
Q
9
0
0
2

1
Q
0
1
0
2

1
Q
1
1
0
2

1
Q
2
1
0
2

Employment

Trend 

Cycle

Employment

Trend 

Cycle

EA Employment, trend and cycle with CF filter

EU27 Employment, trend and cycle with CF filter

(Employment, 
Trend)
150000

145000

140000

135000

130000

125000

120000

115000

110000

(Cycle)

3000

2500

2000

1500

1000

500

0

-500
500

-1000

-1500

-2000

(Employment, 
Trend)
230000

225000

220000

215000

210000

205000

200000

195000

190000

(Cycle)

4000

3000

2000

1000

0

-1000

-2000

-3000

-4000

1
Q
0
0
0
2

1
Q
1
0
0
2

1
Q
2
0
0
2

1
Q
3
0
0
2

1
Q
4
0
0
2

1
Q
5
0
0
2

1
Q
6
0
0
2

1
Q
7
0
0
2

1
Q
8
0
0
2

1
Q
9
0
0
2

1
Q
0
1
0
2

1
Q
1
1
0
2

1
Q
2
1
0
2

1
Q
0
0
0
2

1
Q
1
0
0
2

1
Q
2
0
0
2

1
Q
3
0
0
2

1
Q
4
0
0
2

1
Q
5
0
0
2

1
Q
6
0
0
2

1
Q
7
0
0
2

1
Q
8
0
0
2

1
Q
9
0
0
2

1
Q
0
1
0
2

1
Q
1
1
0
2

1
Q
2
1
0
2

Employment

Trend 

Cycle

Employment

Trend 

Cycle

EA Employment, trend and cycle with UC filter

EU27 Employment, trend and cycle with UC filter

(Employment, 
Trend)
150000

145000

140000

135000

130000

125000

120000

115000

110000

(Cycle)

5000

4000

3000

2000

1000

0

-1000

-2000

-3000

(Employment, 
Trend)
230000

225000

220000

215000

210000

205000

200000

195000

(Cycle)

6000

4000

2000

0

-2000

-4000

-6000

-8000

1
Q
0
0
0
2

1
Q
1
0
0
2

1
Q
2
0
0
2

1
Q
3
0
0
2

1
Q
4
0
0
2

1
Q
5
0
0
2

1
Q
6
0
0
2

1
Q
7
0
0
2

1
Q
8
0
0
2

1
Q
9
0
0
2

1
Q
0
1
0
2

1
Q
1
1
0
2

1
Q
2
1
0
2

1
Q
0
0
0
2

1
Q
1
0
0
2

1
Q
2
0
0
2

1
Q
3
0
0
2

1
Q
4
0
0
2

1
Q
5
0
0
2

1
Q
6
0
0
2

1
Q
7
0
0
2

1
Q
8
0
0
2

1
Q
9
0
0
2

1
Q
0
1
0
2

1
Q
1
1
0
2

1
Q
2
1
0
2

Employment

Trend 

Cycle

Employment

Trend 

Cycle

For more information about methodology on trend-cycle decomposition, see the Methodological notes at the end of this section.

14

Eurostatistics — 01/2013 edition 

Summary analysis

1

The EUROFRAME Euro Growth Indicator: calculated by the OFCE (Paris) in cooperation with 
the EUROFRAME group, which consists of: CPB (Den Haag), DIW (Berlin), ESRI (Dublin), 
ETLA  (Helsinki),  IFW  (Kiel),  NIESR  (London),  PROMETEIA  (Bologna),  WIFO  (Vienna), 
and  CASE  (Poland).  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  industry,  construction,  and  households,  ISM  survey  of  US  industry,  real  euro/
dollar exchange rate, and European stock index. The indicator is based on ordinary least squares 
(OLS) estimation of the GDP growth rate, and released on a monthly basis. 

Methodological 
notes

Indicators of growth 
and turning points – 
sources and methods

€-COIN:  a  real-time  monthly  estimate  of  euro  area  GDP  growth,  computed  each  month  by 
the  Banca  d’Italia.  It  is  obtained  by  collecting  a  large  set  of  statistics  and  extracting  from  it 
information relevant to forecast future GDP. It tracks GDP growth anticipating official GDP 
releases by several months, by giving each month an early estimate of euro area growth in terms 
of  quarter-on-quarter  changes  in  GDP.  Moreover,  it  sheds  light  on  the  underlying  trend  by 
removing short-run fluctuations and measurement errors from the growth rate; in this respect 
it is not only a forecast, but also an indicator of the true growth momentum in the euro area. 

IRC: coincident indicator of the business cycle available in real time, produced by the French 
COE-REXECODE  institute.  Through  the  use  of  temporal  disaggregation  method,  using  EU 
business surveys to extract a high frequency series (monthly GDP) from a low frequency series 
(quarterly GDP), the indicator provides monthly estimates of the quarterly ‘underlying’ growth 
of euro area GDP. The indicator relative to a calendar quarter is equal to the IRC of the last 
month of the quarter. 

The OECD Composite Leading Indicator: designed to predict cyclical turning points (peaks 
and troughs) in GDP as a proxy of the business growth cycle of the overall economy. It comprises 
a set of component series from a wide range of economic indicators.

IFO: Economic Climate Indicator, designed to give an accurate picture of the economic situation 
and forecasts for economies on a quarterly basis. It consists of qualitative information: appraisals 
and expectations of economic experts. For the euro area the trend of the indicator correlates well 
with the actual business-cycle trend. 

DG  ECFIN:  Business  Climate  Indicator  (monthly),  designed  to  deliver  a  clear  and  early 
assessment of the cyclical situation of the euro area. The indicator uses, as input, five balances of 
opinions from DG ECFIN’s Business and Consumer Surveys. The resulting ‘common factor’ may 
be read as a survey result: the higher the level, the healthier the cyclical situation, and a rise in 
the indicator points to an upswing in activity and an improvement in business climate.

DZ-Euroland-Indicator: calculated by DZ Bank (monthly), aims at predicting recessions and 
has also proved to reflect movements in GDP growth rate. It is built on concepts implemented 
by the US Conference Board for monitoring cyclical indicators. Nine series for euro area or for 
the main countries are selected for their leading properties, and aggregated to give a composite 
index which can be compared with the level of GDP in order to anticipate recessions.

IARC: prepared by the institute COE-REXECODE (Paris). It is a monthly indicator aimed at 
forecasting turning points in the growth cycle. Each month, the probability that each selected 
series  has  crossed  a  turning  point  is  computed.  Probabilities  are  aggregated  by  a  weighting 
method to give an overall signal of a possible downswing in the next nine months (a value of the 
indicator higher than 60 and lower than 80), or a very probable downswing in the three coming 
months (a value higher than 80).

  Eurostatistics — 01/2013 edition

15

1

Summary analysis

IESR: conceived by the institute COE-REXECODE. It is a coincident indicator able to detect 
in real time peaks and troughs of the business cycle. It is based on the Markov-Switching model 
applied to various economic time series. The filtered probabilities are combined by taking into 
account  the  risks  of  false  signals  in  order  to  provide  a  recession  probability  (a  value  of  the 
indicator higher than 0.5).

16

Eurostatistics — 01/2013 edition 

Summary analysis

1

Trend-cycle  
decomposition

The  trend  and  cycle  are  two  components  of  a  time  series  that  represent  variations  of  low 
frequency and “business cycle” frequency, respectively, the high frequency fluctuations having 
been  filtered  out.  Identifying  and  estimating  trend  and  cyclical  components  of  key  economic 
indicators is invaluable when making decisions and informing policy-makers. The distinction 
between the two components helps the analyst ascertain whether any change to the indicator is 
temporary or permanent.

However, there exist many alternative methods to identify and estimate trends and (business 
or  deviation)  cycles.  The  estimates  for  three  indicators  –  GDP,  industrial  production,  and 
employment – are produced using three different filters:

Hodrick-Prescott (HP): a filter widely used in macroeconomics to fit a smooth curve through 
a set of points.

Christiano-Fitzgerald (CF): a well-known approximation to an ideal band pass filter, estimated 
non-parametrically.

Unobserved Components (UC): a parametric approach which involves estimating a statistical 
model and decomposing the series into components, including the trend and cycle

  Eurostatistics — 01/2013 edition

17

Section II

Principal European Economic 
Indicators (PEEIs)

Principal European Economic Indicators (PEEIs)

2

Detailed PEEIs analysis for European Union

Indicators

Unit

Reference Period

GDP (volume)
Private final consumption 
(volume)
Investment (GFCF) (volume)

Q/Q-1 % (1)

Q/Q-1 % (1)

Q/Q-1 % (1)

2011q3
0.2

2011q4
-0.3

2012q1
0.0

2012q2
-0.2

2012q3
0.1

0.1

0.0

-0.3

-0.4

-0.1

-1.0

-0.3

-1.3

-0.1

-0.6

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2011q3
1.4

2011q4
0.5

2012q1
0.6

2012q2
-0.7

2012q3
-0.5

0.2

0.6

-0.8

0.6

-0.3

-0.6

-0.9

-3.2

-1.0

-3.4

External trade balance 
(extra EU27) (1)

BOP Current account  
(extra EU27) (1)

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

mn euro

-8952.9 -14047.1

-9388.7 -11266.5

-6943.2

-5732.3

-6805.9

-8140.9

-7572.8 -10390.0

:

:

2011q3

2011q4

2012q1

2012q2

2012q3

mn euro

-9115.0

20985.0

-4142.0

-6805.0

28382.0

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

M/M-1 %
M/M-12 %
M/M-1 % 
M/M-12 %

2012m1
-0.6
2.9
0.7
4.4

2012m2
0.5
2.9
0.9
4.5

2012m3
1.0
2.9
0.5
3.8

2012m4
0.5
2.7
0.0
2.8

2012m5
-0.1
2.6
-0.7
2.3

2012m6
-0.1
2.5
-0.8
1.6

2012m7
-0.4
2.5
0.3
1.4

2012m8
0.4
2.7
1.1
2.8

2012m9
0.6
2.7
0.3
2.6

2012m10
0.3
2.6
0.1
2.5

2012m11
-0.1
2.4
-0.2
1.9

2012m12
:
:
:
:

Unemployment rate -  total (1)
Unemployment rate -  
age <25 year (1)
Unemployment rate -  
age >25 year (1)

%

%

%

Labour Cost Index (2)

Q/Q-1 % (1)

Employment

Q/Q-1 % (1)

Industrial production

Industrial new orders 

Production in construction

Retail trade deflated turnover

M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %

General government deficit (-) 
/surplus (+)

%

General government gross debt %

2012m1
10.1

2012m2
10.2

2012m3
10.2

2012m4
10.3

2012m5
10.4

2012m6
10.5

2012m7
10.5

2012m8
10.5

2012m9
10.6

2012m10
10.7

2012m11
10.7

2012m12
:

22.3

8.7

2011q3
0.4
2011q3
-0.2

2012m1
-0.1
-1.5
-1.8
-1.0
-2.6
-0.7
0.9
-0.2

2005

-2.5

62.8

22.4

8.8

2011q4
0.7
2011q4
-0.1

2012m2
0.3
-1.6
-0.6
-3.6
-5.0
-10.6
-0.4
-1.1

2006

-1.5

61.6

22.6

8.9

2012q1
0.2
2012q1
-0.2

2012m3
-0.2
-1.5
1.5
-2.1
10.3
-4.0
0.8
1.2

2007

-0.9

59.0

22.6

8.9

2012q2
0.9
2012q2
0.1

2012m4
-0.8
-2.1
-1.3
-2.2
-5.9
-5.5
-1.5
-2.5

2008

-2.4

62.2

22.7

9.0

2012q3
0.5
2012q3
-0.1

2012m5
0.8
-2.1
:
:
1.5
-6.5
0.8
0.4

2009

-6.9

74.6

22.7

9.1

22.8

9.1

  Q/Q-4 % (2)

Q/Q-4 %

2012m7
1.0
-1.8
:
:
0.0
-6.7
0.1
0.0

2011

-4.4

82.5

2012m6
-0.7
-1.8
:
:
-1.1
-5.3
0.2
0.2

2010

-6.5

80.0

23.0

9.1

2011q3
2.6
2011q3
0.2

2012m8
0.5
-0.8
:
:
0.1
-4.4
-0.2
0.3

23.2

9.2

2011q4
2.8
2011q4
0.0

2012m9
-2.1
-2.7
:
:
-1.6
-6.5
-0.4
-0.4

23.5

9.2

2012q1
1.5
2012q1
-0.2

2012m10
-1.0
-3.1
:
:
1.6
-4.4
-0.7
-2.0

23.7

9.3

2012q2
2.5
2012q2
-0.3

2012m11
:
:
:
:
:
:
0.2
-1.3

:

:

2012q3
2.4
2012q3
-0.2

2012m12
:
:
:
:
:
:
:
:

Economic sentiment indicator (1) 

index

92.8

94.0

93.2

93.2

90.4

90.4

89.0

87.0

86.2

86.1

88.1

88.4

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

3-month interest rate
Long term government  
bond yields 
Euro-dollar exchange rate

%

%

Average

2012m1
:

2012m2
:

2012m3
:

2012m4
:

2012m5
:

2012m6
:

2012m7
:

2012m8
:

2012m9
:

2012m10
:

2012m11
:

2012m12
:

4.32

-

4.16

-

3.89

-

3.99

-

3.97

-

3.94

-

3.79

-

3.69

-

3.51

-

3.34

-

3.24

-

:

-

(1)  swda: Seasonally adjusted and adjusted data by working days
(2)  wda: Adjusted data by working days 
« : » not available data; « - » not existing data
The set of indicators is selected from the PEEIs list (COM/2002/661) and complemented by certain Monetary and Financial Indicators as well as the Economic Sentiment Indicator.
Indicator 
Current account 
3 months Interest rate 
Long term government bond yields 
Euro-dollar exchange rate 
Economic Sentiment Indicator 

Source
European Central Bank (ECB) for euro area only
ECB
ECB
ECB
Directorate General for Economic and Financial Affairs (DG ECFIN)

  Eurostatistics — 01/2013 edition

19

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2

European Union

Graph 1: Output

Growth rate

4.0

2.0

0.0

-2.0

-4.0

Graph 2: Demand

Growth rate
(PFC,I)

6.0

4.0

2.0

0.0

-2.0

-4.0

Index

115.0

105.0

95.0

85.0

75.0

Growth rate
(RT)

2.0

1.0

0.0

-1.0

-2.0

-3.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

Private Final Consumption (PFC) (q/q-1)
Investment (I)(q/q-1)
Retail trade (RT) (m/m-1)

Private Final Consumption(q/q-4)
Investment (q/q-4)
Retail trade (m/m-12)

Graph  4: Prices

Growth Rate

8.0

6.0

4.0

2.0

0.0
0.0

-2.0

-4.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

HICP (m/m-12)

HICP (m/m-1)

Industrial producer prices (m/m-12)

Industrial producer prices (m/m-1)

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

GDP (q/q-1)
Industrial Production (m/m-1)
Economic Sentiment Indicator

GDP (q/q-4)
Industrial Production (m/m-12)

Graph 3: Labour

%

10.8

10.4

10.0

9.6

9.2

8.8

Growth rate 
4.0

3.0

2.0

1.0

0.0

-1.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

Employment (q/q-1)

Employment (q/q-4)

Labour cost index  (q/q-1)

Labour cost index  (q/q-4)

Unemployment rate Total (%)

Graph 5: External Transactions

Graph 6: Financial

millions  euro

35000

30000

25000

20000

15000

10000

5000

0
0

-5000

-10000

-15000

-20000

%

6.0

5.0

4.0

3.0

2.0

1.0

0.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

External trade balance (1)  

BOP current account (2)

Long-term government bond yields - rates

(1) external trade balance is a monthly basis data
(2) the BOP current account is a quarterly basis data

20

Eurostatistics — 01/2013 edition 

Principal European Economic Indicators (PEEIs)

2

Detailed PEEIs analysis for euro area (*) 

Indicators

Unit

Reference Period

GDP (volume)
Private final consumption 
(volume)
Investment (GFCF) (volume)

Q/Q-1 % (1)

Q/Q-1 % (1)

Q/Q-1 % (1)

2011q3
0.1

2011q4
-0.3

2012q1
0.0

2012q2
-0.2

2012q3
-0.1

0.2

-0.3

-0.5

-0.5

-0.3

-1.4

-0.5

-1.7

-0.1

-0.6

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2011q3
1.3

2011q4
0.2

2012q1
0.3

2012q2
-0.8

2012q3
-0.8

0.3

0.7

-0.9

0.2

-0.6

-2.1

-1.5

-4.6

-1.7

-4.6

External trade balance 
(extra euro area)(1)

BOP Current account 
(extra euro area)

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

mn euro

4601.1

1580.8

4550.7

4959.2

6609.2

9346.3

7031.2

8546.7

10969.9

7884.2

:

:

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

mn euro

-11655.0

-3548.0

10580.0

2862.0

-4635.0

18235.0

14257.0

8374.0

5042.0

7235.0

:

:

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

M/M-1 %
M/M-12 %
M/M-1 %
M/M-12 %

2012m1
-0.8
2.7
0.9
3.9

2012m2
0.5
2.7
0.6
3.7

2012m3
1.3
2.7
0.5
3.5

2012m4
0.5
2.6
0.0
2.6

2012m5
-0.1
2.4
-0.5
2.3

2012m6
-0.1
2.4
-0.5
1.8

2012m7
-0.5
2.4
0.3
1.6

2012m8
0.4
2.6
0.9
2.7

2012m9
0.7
2.6
0.2
2.7

2012m10
0.2
2.5
0.1
2.6

2012m11
-0.2
2.2
-0.2
2.1

2012m12
0.4
2.2
:
:

Unemployment rate -  total (1)
Unemployment rate -  
age <25 year (1)
Unemployment rate -  
age >25 year (1)

%

%

%

Labour Cost Index

Employment

Industrial production

Industrial new orders 

Production in construction

Retail trade deflated turnover

Q/Q-1 % (1)

Q/Q-1 % (1)

M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %

General government deficit (-)/ 
surplus (+)

%

General government gross debt %

2012m1
10.8

2012m2
10.9

2012m3
11.0

2012m4
11.2

2012m5
11.3

2012m6
11.4

2012m7
11.4

2012m8
11.5

2012m9
11.6

2012m10
11.7

2012m11
11.8

2012m12
:

21.9

9.6

2011q3
0.3
2011q3
-0.2

2012m1
-0.2
-1.8
-2.6
-4.1
-0.3
-2.3
1.1
-1.1

2005

-2.5

70.3

22.2

9.7

2011q4
0.7
2011q4
-0.2

2012m2
0.6
-1.8
-0.4
-5.2
-9.3
-15.3
-0.1
-2.0

2006

-1.3

68.6

22.4

9.8

2012q1
0.1
2012q1
-0.3

2012m3
-0.2
-1.7
2.0
-2.7
10.9
-2.9
0.3
0.1

2007

-0.7

66.4

22.6

10.0

2012q2
1.1
2012q2
0.0

2012m4
-1.1
-2.6
-1.2
-3.4
-3.2
-5.9
-1.5
-3.5

2008

-2.1

70.2

22.8

10.1

2012q3
0.4
2012q3
-0.2

2012m5
0.9
-2.6
:
:
0.3
-7.8
0.8
-0.6

2009

-6.3

80.0

22.9

10.2

23.3

10.2

  Q/Q-4 % (2)

Q/Q-4 %

2012m7
0.5
-2.7
:
:
0.4
-5.8
0.1
-1.3

2011

-4.1

87.3

2012m6
-0.4
-2.0
:
:
-0.3
-2.5
0.1
-0.7

2010

-6.2

85.4

23.4

10.2

2011q3
2.5
2011q3
0.3

2012m8
0.9
-1.3
:
:
0.6
-1.5
-0.2
-0.7

23.8

10.3

2011q4
2.8
2011q4
-0.1

2012m9
-2.3
-2.8
:
:
-1.3
-3.8
-0.8
-1.6

24.2

10.4

2012q1
1.6
2012q1
-0.5

2012m10
-1.4
-3.6
:
:
-1.6
-4.1
-0.7
-3.2

24.4

10.4

2012q2
2.4
2012q2
-0.7

2012m11
:
:
:
:
:
:
0.1
-2.6

:

:

2012q3
2.4
2012q3
-0.7

2012m12
:
:
:
:
:
:
:
:

Economic sentiment indicator (1) 

index

93.5

94.5

94.4

92.8

90.5

89.9

87.9

86.1

85.2

84.3

85.7

87.0

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

3-month interest rate
Long term government 
bond yields
Euro-dollar exchange rate

%

%

Average

2012m1
1.22

2012m2
1.05

2012m3
0.86

2012m4
0.74

2012m5
0.68

2012m6
0.66

2012m7
0.50

2012m8
0.33

2012m9
0.25

2012m10
0.21

2012m11
0.19

2012m12
0.19

4.65

1.29

4.45

1.32

4.06

1.32

4.24

1.32

4.28

1.28

4.30

1.25

4.16

1.23

4.03

1.24

3.79

1.29

3.57

1.30

3.47

1.28

:

1.31

(1)  swda: Seasonally adjusted and adjusted data by working days
(2)  wda: Adjusted data by working days
« : » not available data; « - » not existing data
* Data refer to the EA-17 aggregate (euro area with 17 Member States) with the exception of Inflation (HICP all-items ), 3 months Interest rate, Long term government bond yields and Euro-dollar 
exchange rate which refer to the evolving euro area aggregate, i.e. euro area with 11 Member States till 31/12/2000, euro area with 12 Member States from 01/01/2001 till 31/12/2006, euro area with 
13 Member States from 01/01/2007 till 31/12/2007, euro area with 15 Member States from 01/01/2008 till 31/12/2008, euro area with 16 Member States from 01/01/2009 till 31/12/2010, euro area with 
17 Member States from 01/01/2011 till next euro area enlargement.
The set of indicators is selected from the PEEIs list (COM/2002/661) and complemented by certain Monetary and Financial Indicators as well as the Economic Sentiment Indicator.
Indicator 
Current account 
3 months Interest rate 
Long term government bond yields 
Euro-dollar exchange rate 
Economic Sentiment Indicator 

Source
European Central Bank (ECB) for euro area only
ECB
ECB
ECB
Directorate General for Economic and Financial Affairs (DG ECFIN)

  Eurostatistics — 01/2013 edition

21

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2

Euro area

Graph 1: Output

Growth rate

3.0

2.0

1.0

0.0

-1.0

-2.0
2 0

-3.0

-4.0

Index

115.0

110.0

105.0

100.0

95.0

90.0
90 0

85.0

80.0

Graph 2: Demand

Growth rate
(PFC,I)

1.0

0.0

-1.0

-2.0

-3.0

-4.0

-5.0

Growth rate
(RT)

2.0

1.0

0.0

-1.0

-2.0

-3.0

-4.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

Private Final Consumption (PFC)(q/q-1)
Investment (I)(q/q-1)
Retail trade (RT)(m/m-1)

Private Final Consumption(q/q-4)
Investment (q/q-4)
Retail trade (m/m-12)

Graph  4: Prices

Growth Rate

5.0

4.0

3.0

2.0

1.0

0.0

-1.0

-2.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

Industrial producer prices (m/m-12)

Industrial producer prices (m/m-1)

HICP (m/m-12)

HICP (m/m-1)

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

GDP (q/q-1)
Industrial Production (m/m-1)
Economic Sentiment Indicator

GDP (q/q-4)
Industrial Production (m/m-12)

Graph 3: Labour

%

12.0

11.5

11.0

10.5

10.0

9.5

Growth rate 
4.0

3.0

2.0

1.0

0.0

-1.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

Employment (q/q-1)

Employment (q/q-4)

Labour cost index  (q/q-1)

Labour cost index  (q/q-4)

Unemployment rate Total (%)

Graph 5: External Transactions

Graph 6: Financial

millions  euro
20000

15000

10000

5000

0

-5000

-10000

-15000

%

6.0

5.0

4.0

3.0

2.0

1.0

0.0

€/$

1.6

1.4

1.2

1

0.8

0.6

0.4

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

External trade balance  

BOP current account 

3-month interest rates

Long-term government bond yields - rates

Euro-dollar exchange rate

22

Eurostatistics — 01/2013 edition 

Principal European Economic Indicators (PEEIs)

2

Detailed PEEIs analysis for Belgium

Indicators

Unit

Reference Period

GDP (volume)
Private final consumption 
(volume)
Investment (GFCF) (volume)

Q/Q-1 % (1)

Q/Q-1 % (1)

Q/Q-1 % (1)

2011q3
0.0

2011q4
-0.1

2012q1
0.2

2012q2
-0.5

2012q3
0.0

-0.2

-0.7

0.0

-0.9

-0.2

0.8

-0.4

-0.6

0.1

-0.3

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2011q3
1.5

2011q4
0.8

2012q1
0.5

2012q2
-0.5

2012q3
-0.4

0.0

4.3

-0.6

1.1

-0.4

2.5

-0.9

-2.1

-0.6

-0.7

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

371.1

294.8

350.6

523.2

245.8

889.9

-69.7

595.7

877.0

670.9

118.1

-833.4

-295.7

-144.3

-314.4

:

:

:

:

External trade balance 
(extra euro area)(1)
External trade balance 
(extra EU27) (1)

BOP Current account 
(All countries of the world)

mn euro

mn euro

-296.6

2011q3

-451.2

2011q4

-359.8

2012q1

mn euro

-4831.0

-1831.0

-3272.0

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

M/M-1 %
M/M-12 %
M/M-1 %
M/M-12 %

2012m1
-1.1
3.3
1.0
3.5

2012m2
2.3
3.3
1.9
3.6

2012m3
0.2
3.1
0.2
2.8

-75.8

2012q2

3852.0

2012m4
0.1
2.9
0.4
2.0

-488.7

2012q3

:

2012m5
-0.1
2.6
0.3
2.5

2012m6
-0.2
2.2
-0.2
2.6

2012m7
-1.5
2.0
-0.4
2.7

2012m8
2.1
2.6
0.0
3.3

2012m9
0.1
2.6
0.3
3.1

2012m10
0.2
2.6
0.8
4.5

2012m11
-0.1
2.2
0.6
5.3

2012m12
:
:
:
:

Unemployment rate -  total (1)
Unemployment rate -  
age <25 year (1)
Unemployment rate -  
age >25 year (1)

%

%

%

Labour Cost Index

Employment

Industrial production

Industrial new orders 

Production in construction

Retail trade deflated turnover

Q/Q-1 % (1)

Q/Q-1 % (1)

M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %

General government deficit (-)/ 
surplus (+)

%

General government gross debt %

2012m1
7.1

2012m2
7.1

2012m3
7.2

2012m4
7.4

2012m5
7.5

2012m6
7.5

2012m7
7.4

2012m8
7.4

2012m9
7.4

2012m10
7.4

2012m11
7.4

2012m12
:

18.2

6.0

2011q3
0.8
2011q3
0.2

2012m1
-1.2
-2.2
-19.4
-2.0
8.1
9.0
-0.1
2.9

2005

-2.5

92.0

18.6

6.0

2011q4
0.7
2011q4
0.3

2012m2
0.5
-4.7
7.8
6.8
2.6
3.0
-0.3
4.7

2006

0.4

88.0

18.7

6.1

2012q1
1.1
2012q1
-0.1

2012m3
2.3
-4.2
-0.2
8.4
10.9
16.4
-0.5
5.6

2007

-0.1

84.0

18.6

6.3

2012q2
0.6
2012q2
0.0

2012m4
-7.2
-8.5
:
:
-13.3
8.0
-1.8
-4.8

2008

-1.0

89.2

18.7

6.4

2012q3
0.3
2012q3
-0.1

2012m5
4.8
-7.5
:
:
-0.1
-6.2
0.0
-2.5

2009

-5.5

95.7

18.8

6.4

19.0

6.4

  Q/Q-4 % (2)

Q/Q-4 %

2012m7
2.9
-2.3
:
:
3.0
3.1
0.8
-3.0

2011

-3.7

97.8

2012m6
-2.1
-2.1
:
:
-4.9
7.6
0.3
3.7

2010

-3.8

95.5

19.4

6.3

2011q3
2.5
2011q3
1.3

2012m8
2.6
-2.6
:
:
-0.3
4.0
0.3
-0.9

19.9

6.2

2011q4
2.6
2011q4
1.1

2012m9
-1.8
-3.8
:
:
-1.0
-0.9
1.0
3.5

19.7

6.2

2012q1
3.2
2012q1
0.7

2012m10
-1.2
-1.6
:
:
1.3
2.4
0.8
0.8

19.7

6.3

2012q2
3.3
2012q2
0.2

2012m11
:
:
:
:
:
:
0.5
4.5

:

:

2012q3
2.5
2012q3
0.0

2012m12
:
:
:
:
:
:
:
:

Economic sentiment indicator (1)

index

94.2

94.5

95.8

94.1

91.9

90.5

92.2

91.0

91.1

89.3

87.1

89.3

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

3-month interest rate
Long term government  
bond yields 

%

%

2012m1
:

2012m2
:

2012m3
:

2012m4
:

2012m5
:

2012m6
:

2012m7
:

2012m8
:

2012m9
:

2012m10
:

2012m11
:

2012m12
:

4.11

3.70

3.53

3.52

3.30

3.17

2.69

2.54

2.61

2.44

2.29

:

(1)  swda: Seasonally adjusted and adjusted data by working days
(2)  wda: Adjusted data by working days 
« : » not available data; « - » not existing data
The set of indicators is selected from the PEEIs list (COM/2002/661) and complemented by certain Monetary and Financial Indicators as well as the Economic Sentiment Indicator.
Indicator 
3 months Interest rate 
Long term government bond yields 
Euro-dollar exchange rate 
Economic Sentiment Indicator 

Source
ECB
ECB
ECB
Directorate General for Economic and Financial Affairs (DG ECFIN)

  Eurostatistics — 01/2013 edition

23

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2

Belgium

Graph 1: Output

Growth rate

6.0

4.0

2.0

0.0

-2.0

-4.0

-6.0

-8.0

Graph 2: Demand

Growth Rate (PFC, 
I)

4.0

3.0

2.0

1.0

0.0

-1.0

Growth Rate (RT)

9.0

6.0

3.0

0.0

-3.0

-6.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

Index

115

110

105

100

95

90

85

80

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

GDP (q/q-1)

Industrial Production (m/m-1)

Economic Sentiment Indicator

Private Final Consumption (PFC) (q/q-1)

Investment (I) (q/q-1)

Retail trade (RT) (m/m-1)

Graph 3: Labour

%
8.1

7.7

7.3

6.9

6.5

Graph  4: Prices

Growth Rate
3.0

2.0

1.0

0.0

-1.0

-2.0

-3.0

Growth Rate 

1.5

1.0

0.5

0.0

-0.5

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

Employment (q/q-1)

Labour cost index  (q/q-1)

Unemployment rate Total (%)

HICP (m/m-1)

Industrial producer prices (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

millions  euro
5000

4000

3000

2000

1000

0

-1000

-2000

-3000

-4000

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

External trade balance  

BOP current account 

%

5.0

4.0

3.0

2.0

1.0

€/$

1.800

1.600

1.400

1.200

1.000

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

Long-term government bond yields - rates

Euro-dollar exchange rate

24

Eurostatistics — 01/2013 edition 

Principal European Economic Indicators (PEEIs)

2

Detailed PEEIs analysis for Bulgaria

Indicators

Unit

Reference Period

GDP (volume)
Private final consumption 
(volume)
Investment (GFCF) (volume)

Q/Q-1 % (1)

Q/Q-1 % (1)

Q/Q-1 % (1)

2011q3
0.1

2011q4
0.1

2012q1
0.0

2012q2
0.3

2012q3
0.1

0.4

-2.7

0.0

-1.2

-0.1

0.4

4.0

1.5

0.5

0.4

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2011q3
1.9

2.9

-12.4

2011q4
0.3

-1.6

-14.4

2012q1
0.9

2012q2
1.0

2012q3
0.9

2.1

1.3

6.2

-0.3

3.7

1.9

External trade balance 
(extra EU27) (1)

BOP Current account 
(All countries of the world)

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

mn euro

-51.5

-166.2

-177.9

-326.7

-181.1

-129.1

-156.0

-148.9

-167.5

-213.0

:

:

2011q3

2011q4

2012q1

2012q2

2012q3

mn euro

992.0

-792.0

-553.0

-295.0

:

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

M/M-1 %
M/M-12 %
M/M-1 %
M/M-12 %

2012m1
0.4
1.9
1.6
5.3

2012m2
0.6
2.0
0.4
4.6

2012m3
0.1
1.7
0.9
4.6

2012m4
0.2
2.0
1.1
5.0

2012m5
-0.1
1.8
-0.9
4.3

2012m6
-0.5
1.6
-0.8
3.3

2012m7
1.1
2.4
1.9
4.5

2012m8
0.6
3.1
1.4
7.1

2012m9
0.3
3.4
0.3
6.6

2012m10
-0.1
3.0
0.2
6.9

2012m11
-0.2
2.7
0.1
6.4

2012m12
:
:
:
:

Unemployment rate -  total (1)
Unemployment rate -  
age <25 year (1)
Unemployment rate -  
age >25 year (1)

%

%

%

Labour Cost Index

Employment

Industrial production

Industrial new orders 

Production in construction

Retail trade deflated turnover

Q/Q-1 % (1)

Q/Q-1 % (1)

M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %

General government deficit (-)/ 
surplus (+)

%

General government gross debt %

2012m1
11.9

2012m2
12.0

2012m3
12.1

2012m4
12.2

2012m5
12.2

2012m6
12.3

2012m7
12.4

2012m8
12.3

2012m9
12.3

2012m10
12.4

2012m11
12.4

2012m12
:

28.2

10.5

2011q3
1.0
2011q3
-0.9

2012m1
-0.4
-2.2
4.8
5.3
-4.0
1.2
-0.5
-2.6

2005

1.0

27.5

28.9

10.6

2011q4
2.6
2011q4
0.3

2012m2
-1.7
-5.2
-4.3
-4.0
-0.4
-11.1
-3.9
-6.4

2006

1.9

21.6

29.3

10.7

2012q1
0.9
2012q1
-0.6

2012m3
1.7
-3.2
4.5
5.9
2.6
2.0
4.6
-1.8

2007

1.2

17.2

29.0

10.8

2012q2
1.6
2012q2
-1.3

2012m4
2.0
0.5
-1.7
2.1
-0.2
3.9
-0.1
-0.3

2008

1.7

13.7

28.6

10.9

2012q3
1.9
2012q3
0.0

2012m5
0.4
0.4
:
:
-0.6
3.0
0.4
-1.8

2009

-4.3

14.6

28.4

11.0

27.8

11.2

  Q/Q-4 % (2)

Q/Q-4 %

2012m7
0.0
-0.5
:
:
2.0
3.5
-0.2
1.6

2011

-2.0

16.3

2012m6
-0.3
2.3
:
:
-0.9
-3.6
0.9
0.4

2010

-3.1

16.2

26.6

11.2

2011q3
10.4
2011q3
-5.0

2012m8
0.8
2.6
:
:
-1.4
0.7
-1.5
0.7

26.1

11.1

2011q4
11.7
2011q4
-2.3

2012m9
-3.4
-3.0
:
:
0.3
-2.7
-1.3
-3.1

26.8

11.2

2012q1
6.8
2012q1
-1.6

2012m10
-0.4
-4.4
:
:
2.1
6.0
-0.8
-4.3

27.4

11.2

2012q2
5.8
2012q2
-2.8

2012m11
0.9
-2.1
:
:
-1.1
1.2
-0.5
-5.2

:

:

2012q3
7.1
2012q3
-1.5

2012m12
:
:
:
:
:
:
:
:

Economic sentiment indicator (1) 

index

96.5

93.6

96.9

95.5

95.7

97.4

96.9

95.7

92.5

91.6

92.9

94.8

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

3-month interest rate
Long term government  
bond yields 
New bulgarian Lev exchange 
rates against the euro

%

%

Average

2012m1
3.34

2012m2
3.19

2012m3
2.91

2012m4
2.71

2012m5
2.59

2012m6
2.45

2012m7
2.14

2012m8
1.69

2012m9
1.60

2012m10
1.56

2012m11
1.45

2012m12
:

5.30

1.96

5.31

1.96

5.07

1.96

5.11

1.96

5.11

1.96

5.07

1.96

4.87

1.96

4.28

1.96

3.80

1.96

3.39

1.96

3.22

1.96

:

1.96

(1)  swda: Seasonally adjusted and adjusted data by working days
(2)  wda: Adjusted data by working days 
« : » not available data; « - » not existing data
The set of indicators is selected from the PEEIs list (COM/2002/661) and complemented by certain Monetary and Financial Indicators as well as the Economic Sentiment Indicator.
Indicator 
3 months Interest rate 
Long term government bond yields 
Euro-dollar exchange rate 
Economic Sentiment Indicator 

Source
ECB
ECB
ECB
Directorate General for Economic and Financial Affairs (DG ECFIN)

  Eurostatistics — 01/2013 edition

25

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2

Bulgaria

Graph 1: Output

Growth rate

12.0

8.0

4.0

0.0

-4.0

-8.0

Graph 2: Demand

Growth Rate (PFC, 
I)

10.0

5.0

0.0

-5.0

-10.0

-15.0

Growth Rate (RT)

6.0

4.0

2.0

0.0

-2.0

-4.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

Index

105

100

95

90

85

80

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

GDP (q/q-1)

Industrial Production (m/m-1)

Economic Sentiment Indicator

Private Final Consumption (PFC) (q/q-1)

Investment (I) (q/q-1)

Retail trade (RT) (m/m-1)

Graph 3: Labour

%
13.5

13.0

12.5

12.0

11.5

11.0

10.5

Growth Rate 

4.0

3.0

2.0

1.0

0.0

-1.0

-2.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

Employment (q/q-1)

Labour cost index  (q/q-1)

Unemployment rate Total (%)

Graph  4: Prices

Growth Rate
2.5

2.0

1.5

1.0

0.5

0.0
0 0

-0.5

-1.0

-1.5

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

HICP (m/m-1)

Industrial producer prices (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

millions  euro

0

-100

-200

-300

-400

-500

-600

%

6.0

5.0

4.0

3.0

2.0

1.0

Bulgarian Lev/€

1.970

1.960

1.950

1.940

1.930

1.920

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

External trade balance  

BOP current account 

3-month interest rates

Long-term government bond yields - rates

Bulgarian Lev exchange rates against the euro 

26

Eurostatistics — 01/2013 edition 

Principal European Economic Indicators (PEEIs)

2

Detailed PEEIs analysis for Czech Republic

Indicators

Unit

Reference Period

GDP (volume)
Private final consumption 
(volume)
Investment (GFCF) (volume)

Q/Q-1 % (1)

Q/Q-1 % (1)

Q/Q-1 % (1)

2011q3
-0.1

2011q4
0.0

2012q1
-0.6

2012q2
-0.4

2012q3
-0.3

-0.8

2.2

1.1

-1.7

-3.3

-3.0

0.3

4.5

-0.4

-1.9

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2011q3
1.6

2011q4
0.6

2012q1
-0.2

2012q2
-1.6

2012q3
-1.6

1.0

-1.8

0.4

-2.4

-2.8

1.7

-3.1

0.4

-2.4

-2.9

External trade balance 
(extra EU27) (1)

BOP Current account 
(All countries of the world)

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

mn euro

-446.4

-346.0

-356.0

-522.4

-498.0

-358.6

-160.6

-220.5

-393.5

-264.5

:

:

2011q3

2011q4

2012q1

2012q2

2012q3

mn euro

-2360.0

-688.0

913.0

-260.0

:

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

M/M-1 %
M/M-12 %
M/M-1 %
M/M-12 %

2012m1
1.8
3.8
1.0
4.1

2012m2
0.2
4.0
0.1
3.6

2012m3
0.3
4.2
0.3
3.0

2012m4
0.0
4.0
0.0
2.2

2012m5
0.2
3.5
0.0
1.7

2012m6
0.2
3.8
-0.3
1.5

2012m7
-0.2
3.3
-0.3
1.3

2012m8
0.0
3.4
0.5
1.9

2012m9
-0.1
3.5
0.0
1.7

2012m10
0.3
3.6
0.2
1.9

2012m11
-0.3
2.8
0.1
1.6

2012m12
:
:
:
:

Unemployment rate -  total (1)
Unemployment rate -  
age <25 year (1)
Unemployment rate -  
age >25 year (1)

%

%

%

Labour Cost Index

Employment

Industrial production

Industrial new orders 

Production in construction

Retail trade deflated turnover

Q/Q-1 % (1)

Q/Q-1 % (1)

M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %

General government deficit (-)/ 
surplus (+)

%

General government gross debt %

2012m1
6.7

2012m2
6.8

2012m3
6.8

2012m4
6.8

2012m5
6.8

2012m6
6.9

2012m7
6.9

2012m8
7.0

2012m9
7.1

2012m10
7.3

2012m11
7.4

2012m12
:

19.0

5.8

2011q3
2.0
2011q3
0.0

2012m1
-0.8
0.9
11.2
12.8
-23.5
-8.1
0.9
0.5

2005

-3.2

28.4

19.4

5.9

2011q4
:
2011q4
-0.3

2012m2
-0.1
1.0
-5.8
5.4
-1.5
-17.2
-0.5
-0.5

2006

-2.4

28.3

19.2

5.9

2012q1
:
2012q1
0.2

2012m3
0.1
2.6
-2.3
0.8
5.4
-4.8
0.3
1.3

2007

-0.7

27.9

19.8

5.7

2012q2
:
2012q2
0.2

2012m4
-0.5
1.5
-0.5
0.4
0.3
-1.0
-1.4
-4.4

2008

-2.2

28.7

19.9

5.8

2012q3
:
2012q3
0.1

2012m5
-0.4
-0.7
:
:
-0.4
-3.3
1.0
0.9

2009

-5.8

34.2

19.4

5.9

19.4

6.0

  Q/Q-4 % (2)

Q/Q-4 %

2012m7
0.8
1.6
:
:
1.7
-1.5
0.1
-1.3

2011

-3.3

40.8

2012m6
-0.5
-0.3
:
:
-2.1
-8.1
-0.7
0.0

2010

-4.8

37.8

19.3

6.1

2011q3
5.2
2011q3
0.2

2012m8
-2.8
-2.6
:
:
-1.2
-3.2
0.7
0.9

19.9

6.2

2011q4
:
2011q4
0.1

2012m9
-0.1
-2.1
:
:
-1.7
-7.6
-0.4
0.2

20.9

6.3

2012q1
:
2012q1
0.2

2012m10
-0.7
-3.3
:
:
-0.7
-8.0
-0.9
-1.5

21.3

6.4

2012q2
:
2012q2
0.3

2012m11
-0.8
-6.2
:
:
1.3
-3.9
:
:

:

:

2012q3
:
2012q3
0.3

2012m12
:
:
:
:
:
:
:
:

Economic sentiment indicator (1)  

index

89.5

91.0

91.2

89.1

87.1

86.9

84.6

85.6

85.7

85.0

83.8

86.2

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

3-month interest rate
Long term government  
bond yields 
Czech Koruna exchange rates 
against the euro

%

%

2012m1
1.17

2012m2
1.20

2012m3
1.23

2012m4
1.24

2012m5
1.24

2012m6
1.21

2012m7
1.06

2012m8
1.00

2012m9
0.87

2012m10
0.71

2012m11
0.54

2012m12
:

3.39

3.12

3.51

3.51

3.31

3.11

2.60

2.38

2.41

2.24

1.92

:

Average

25.53

25.04

24.68

24.81

25.31

25.64

25.45

25.02

24.75

24.94

25.37

25.21

(1)  swda: Seasonally adjusted and adjusted data by working days
(2)  wda: Adjusted data by working days 
« : » not available data; « - » not existing data
The set of indicators is selected from the PEEIs list (COM/2002/661) and complemented by certain Monetary and Financial Indicators as well as the Economic Sentiment Indicator.
Indicator 
3 months Interest rate 
Long term government bond yields 
Euro-dollar exchange rate 
Economic Sentiment Indicator 

Source
ECB
ECB
ECB
Directorate General for Economic and Financial Affairs (DG ECFIN)

  Eurostatistics — 01/2013 edition

27

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2

Czech Republic

Graph 1: Output

Growth rate

Index

3.0

2.0

1.0

0.0

-1.0
1 0

-2.0

-3.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

Graph 2: Demand

Growth Rate (PFC, 
I)

15.0

10.0

5.0

0.0

-5.0

-10.0

Growth Rate (RT)

3.0

2.0

1.0

0.0

-1.0

-2.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

120

110

100

90

80
80

70

60

GDP (q/q-1)

Industrial Production (m/m-1)

Economic Sentiment Indicator

Private Final Consumption (PFC) (q/q-1)

Investment (I) (q/q-1)

Retail trade (RT) (m/m-1)

Graph 3: Labour

%
7.6

7.4

7.2

7.0

6.8

6.6

6.4

Graph  4: Prices

Growth Rate
2.0

1.5

1.0

0.5

0.0

-0.5

Growth Rate 

3.0

2.0

1.0

0.0

-1.0

-2.0

-3.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

Employment (q/q-1)

Unemployment rate Total (%)

HICP (m/m-1)

Industrial producer prices (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

millions  euro

1000

800

600

400

200

0
0

-200

-400

-600

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

%

4.0

3.5

3.0

2.5

2.0

1.5
.5

1.0

0.5

0.0

Czech Koruna/€

29.000

28.000

27.000

26.000

25.000

24.000

23.000

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

External trade balance  

BOP current account 

3-month interest rates

Long-term government bond yields - rates

Czech Koruna exchange rates against the euro

28

Eurostatistics — 01/2013 edition 

Principal European Economic Indicators (PEEIs)

2

Detailed PEEIs analysis for Denmark

Indicators

Unit

Reference Period

GDP (volume)
Private final consumption 
(volume)
Investment (GFCF) (volume)

Q/Q-1 % (1)

Q/Q-1 % (1)

Q/Q-1 % (1)

2011q3
-0.5

2011q4
0.0

2012q1
0.1

2012q2
-0.7

2012q3
0.3

-0.8

0.3

1.3

1.5

0.1

0.5

0.0

-3.1

-0.4

0.9

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2011q3
-0.1

2011q4
0.3

2012q1
0.0

2012q2
-1.2

2012q3
-0.3

-1.0

1.3

-0.4

4.3

0.7

6.7

0.6

-0.9

0.8

0.0

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

External trade balance 
(extra EU27) (1)

BOP Current account 
(All countries of the world)

mn euro

mn euro

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

M/M-1 %
M/M-12 %
M/M-1 %
M/M-12 %

735.0

2011q3

3873.0

2012m1
0.4
2.8
0.3
3.2

649.5

2011q4

3511.0

2012m2
1.0
2.7
3.6
4.9

680.2

2012q1

1707.0

2012m3
0.6
2.7
0.3
3.1

773.7

2012q2

5082.0

2012m4
0.0
2.3
1.1
3.0

827.3

2012q3

:

2012m5
0.0
2.1
-1.4
0.4

682.3

723.7

555.6

645.0

605.5

:

:

2012m6
-0.2
2.2
-1.3
-0.1

2012m7
-0.1
2.1
-1.6
-0.9

2012m8
0.4
2.6
2.9
1.9

2012m9
0.3
2.5
1.1
2.7

2012m10
-0.1
2.3
0.0
3.4

2012m11
-0.2
2.2
0.7
4.4

2012m12
:
:
:
:

Unemployment rate -  total (1)
Unemployment rate -  
age <25 year (1)
Unemployment rate -  
age >25 year (1)

%

%

%

Labour Cost Index

Employment

Industrial production

Industrial new orders 

Production in construction

Retail trade deflated turnover

Q/Q-1 % (1)

Q/Q-1 % (1)

M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %

General government deficit (-)/ 
surplus (+)

%

General government gross debt %

2012m1
7.3

2012m2
7.5

2012m3
7.7

2012m4
7.9

2012m5
8.0

2012m6
7.9

2012m7
7.7

2012m8
7.4

2012m9
7.4

2012m10
7.7

2012m11
7.9

2012m12
:

14.4

6.0

2011q3
0.6
2011q3
-0.1

2012m1
0.7
-3.4
-11.8
-4.1
:
:
-0.7
-3.3

2005

5.2

37.8

15.1

6.1

2011q4
0.8
2011q4
-0.2

2012m2
1.8
3.7
-2.1
-5.9
:
:
-1.3
-4.7

2006

5.2

32.1

15.5

6.3

2012q1
0.4
2012q1
-0.1

2012m3
-2.5
-2.3
0.9
11.8
:
:
1.6
-0.8

2007

4.8

27.1

15.1

6.5

2012q2
-0.2
2012q2
-0.1

2012m4
0.6
-4.1
-5.9
9.6
:
:
-1.4
-3.5

2008

3.2

33.4

14.7

6.7

2012q3
0.5
2012q3
0.1

2012m5
-0.8
-8.6
:
:
:
:
-0.1
-2.7

2009

-2.7

40.6

14.3

6.7

13.8

6.5

  Q/Q-4 % (2)

Q/Q-4 %

2012m7
2.6
3.1
:
:
:
:
-0.1
-1.6

2011

-1.8

46.6

2012m6
2.4
0.5
:
:
:
:
0.0
-2.0

2010

-2.5

42.9

13.2

6.4

2011q3
2.5
2011q3
-0.3

2012m8
-1.9
2.2
:
:
:
:
-1.1
-3.7

12.9

6.4

2011q4
2.9
2011q4
-0.4

2012m9
-1.0
1.3
:
:
:
:
1.7
-0.6

13.7

6.6

2012q1
1.9
2012q1
-0.3

2012m10
-0.3
1.6
:
:
:
:
-1.7
-3.4

14.2

6.7

2012q2
1.5
2012q2
-0.6

2012m11
:
:
:
:
:
:
0.9
-1.3

:

:

2012q3
1.4
2012q3
-0.5

2012m12
:
:
:
:
:
:
:
:

Economic sentiment indicator (1)  

index

89.0

97.2

94.8

98.5

92.8

91.6

93.0

94.1

92.4

87.5

93.4

92.5

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

3-month interest rate
Long term government  
bond yields 
 Danish Krone exchange rates 
against the euro

%

%

Average

2012m1
1.01

2012m2
1.00

2012m3
0.99

2012m4
0.97

2012m5
0.90

2012m6
0.62

2012m7
0.41

2012m8
0.31

2012m9
0.32

2012m10
0.33

2012m11
0.30

2012m12
0.28

1.74

7.44

1.84

7.43

1.89

7.44

1.71

7.44

1.37

7.43

1.26

7.43

1.10

7.44

1.15

7.45

1.31

7.45

1.29

7.46

1.11

7.46

:

7.46

(1)  swda: Seasonally adjusted and adjusted data by working days
(2)  wda: Adjusted data by working days 
« : » not available data; « - » not existing data
The set of indicators is selected from the PEEIs list (COM/2002/661) and complemented by certain Monetary and Financial Indicators as well as the Economic Sentiment Indicator.
Indicator 
3 months Interest rate 
Long term government bond yields 
Euro-dollar exchange rate 
Economic Sentiment Indicator 

Source
ECB
ECB
ECB
Directorate General for Economic and Financial Affairs (DG ECFIN)

  Eurostatistics — 01/2013 edition

29

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2

Denmark

Graph 1: Output

Growth rate

Index

8.0

4.0

0.0

-4.0

-8.0

-12.0

Graph 2: Demand

Growth Rate (PFC, 
I)

12.0

8.0

4.0

0.0

-4.0

-8.0

115

105

95

85

75

65

Growth Rate (RT)

8.0

4.0

0.0

-4.0

-8.0

-12.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

GDP (q/q-1)

Industrial Production (m/m-1)

Economic Sentiment Indicator

Private Final Consumption (PFC) (q/q-1)

Investment (I) (q/q-1)

Retail trade (RT) (m/m-1)

Graph 3: Labour

Graph  4: Prices

%

8.5

8.0

7.5

7.0
7.0

6.5

6.0

Growth Rate 

Growth Rate

1.5

1.0

0.5

0.0
0.0

-0.5

-1.0

4

3

2

1

0

-1

-2

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

Employment (q/q-1)

Labour cost index  (q/q-1)

Unemployment rate Total (%)

HICP (m/m-1)

Industrial producer prices (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

millions  euro
6000

5000

4000

3000

2000
2000

1000

0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

%

5.0

4.0

3.0

2.0

1.0

0.0

Danish Krone/€

7.470

7.460

7.450

7.440

7.430

7.420

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

3-month interest rates

Long-term government bond yields - rates

External trade balance  

BOP current account 

Danish Krone exchange rates against the euro

30

Eurostatistics — 01/2013 edition 

Principal European Economic Indicators (PEEIs)

2

Detailed PEEIs analysis for Germany

Indicators

Unit

Reference Period

GDP (volume)
Private final consumption 
(volume)
Investment (GFCF) (volume)

Q/Q-1 % (1)

Q/Q-1 % (1)

Q/Q-1 % (1)

2011q3
0.4

2011q4
-0.1

2012q1
0.5

2012q2
0.3

2012q3
0.2

1.3

0.4

-0.3

0.8

0.0

-0.8

0.1

-2.1

0.3

0.2

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2011q3
2.6

2011q4
1.4

2012q1
1.7

2012q2
0.5

2012q3
0.4

2.1

3.7

0.9

4.5

1.5

1.2

0.4

-2.6

-0.2

-2.6

External trade balance 
(extra euro area)(1)
External trade balance 
(extra EU27) (1)

BOP Current account 
(All countries of the world)

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

mn euro

13321.9

13731.8

14577.1

14338.2

13716.1

16138.5

15007.4

16582.9

15825.8

13270.2

mn euro

10112.3

10192.6

11544.4

10581.7

10490.3

12563.4

11862.5

12467.3

12524.8

10124.4

:

:

:

:

2011q3

2011q4

2012q1

2012q2

2012q3

mn euro

32978.0

47398.0

41068.0

37620.0

:

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

M/M-1 %
M/M-12 %
M/M-1 %
M/M-12 %

2012m1
-0.5
2.3
0.6
3.4

2012m2
0.9
2.5
0.4
3.2

2012m3
0.4
2.3
0.6
3.4

2012m4
0.1
2.2
0.2
2.4

2012m5
-0.2
2.2
-0.3
2.1

2012m6
-0.2
2.0
-0.4
1.6

2012m7
0.4
1.9
0.0
0.9

2012m8
0.4
2.2
0.5
1.6

2012m9
0.0
2.1
0.3
1.7

2012m10
0.1
2.1
0.0
1.5

2012m11
-0.2
1.9
-0.1
1.4

2012m12
:
:
:
:

Unemployment rate -  total (1)
Unemployment rate -  
age <25 year (1)
Unemployment rate -  
age >25 year (1)

%

%

%

Labour Cost Index

Employment

Industrial production

Industrial new orders 

Production in construction

Retail trade deflated turnover

Q/Q-1 % (1)

Q/Q-1 % (1)

M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %

General government deficit (-)/ 
surplus (+)

%

General government gross debt %

2012m1
5.6

2012m2
5.6

2012m3
5.6

2012m4
5.5

2012m5
5.5

2012m6
5.5

2012m7
5.5

2012m8
5.5

2012m9
5.4

2012m10
5.4

2012m11
5.4

2012m12
:

8.1

5.3

2011q3
-0.3
2011q3
0.3

2012m1
0.4
0.8
-1.3
-4.7
3.4
6.6
-1.0
-1.3

2005

-3.3

68.5

8.1

5.3

2011q4
1.1
2011q4
0.3

2012m2
0.6
0.7
0.8
-5.3
-16.3
-21.3
-0.3
-2.1

2006

-1.6

68.0

8.1

5.3

2012q1
-0.1
2012q1
0.4

2012m3
0.9
1.1
3.3
0.2
23.3
0.8
1.5
2.0

2007

0.2

65.2

8.1

5.2

2012q2
2.1
2012q2
0.1

2012m4
-2.0
-0.9
-1.7
-2.7
-5.6
-2.1
-0.9
0.5

2008

-0.1

66.8

8.1

5.2

2012q3
0.8
2012q3
0.1

2012m5
1.5
-0.3
:
:
2.9
-0.1
-0.1
2.5

2009

-3.1

74.5

8.1

5.2

8.1

5.2

  Q/Q-4 % (2)

Q/Q-4 %

2012m7
1.1
-1.3
:
:
1.7
0.1
-0.8
-1.2

2011

-0.8

80.5

2012m6
-0.1
0.4
:
:
-1.4
1.7
0.6
0.8

2010

-4.1

82.5

8.1

5.2

2011q3
2.8
2011q3
1.3

2012m8
-0.3
-1.4
:
:
-2.2
-0.6
-0.5
-0.9

8.1

5.1

2011q4
3.5
2011q4
1.3

2012m9
-1.5
-1.0
:
:
2.5
2.4
0.1
-0.7

8.1

5.1

2012q1
1.7
2012q1
1.4

2012m10
-2.0
-3.2
:
:
-1.6
0.1
-1.3
-2.8

8.1

5.0

2012q2
2.9
2012q2
1.1

2012m11
0.1
-3.0
:
:
1.0
-1.8
1.2
-0.9

:

:

2012q3
3.9
2012q3
0.9

2012m12
:
:
:
:
:
:
:
:

Economic sentiment indicator (1)  

index

106.6

106.7

104.3

103.3

101.9

100.5

96.8

95.8

94.7

93.3

95.6

96.6

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

3-month interest rate
Long term government  
bond yields 

%

%

2012m1
:

2012m2
:

2012m3
:

2012m4
:

2012m5
:

2012m6
:

2012m7
:

2012m8
:

2012m9
:

2012m10
:

2012m11
:

2012m12
:

1.82

1.85

1.83

1.62

1.34

1.30

1.24

1.34

1.49

1.47

1.34

:

(1)  swda: Seasonally adjusted and adjusted data by working days
(2)  wda: Adjusted data by working days 
« : » not available data; « - » not existing data
The set of indicators is selected from the PEEIs list (COM/2002/661) and complemented by certain Monetary and Financial Indicators as well as the Economic Sentiment Indicator.
Indicator 
3 months Interest rate 
Long term government bond yields 
Euro-dollar exchange rate 
Economic Sentiment Indicator 

Source
ECB
ECB
ECB
Directorate General for Economic and Financial Affairs (DG ECFIN)

  Eurostatistics — 01/2013 edition

31

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2

Germany

Graph 1: Output

Growth rate

Index

10.0

8.0

6.0

4.0

2.0

0.0

-2.0

-4.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

Graph 2: Demand

Growth Rate (PFC, 
I)

4.0

2.0

0.0

-2.0

-4.0

Growth Rate (RT)

6.0

3.0

0.0

-3.0

-6.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

120

115

110

105

100

95

90

85

GDP (q/q-1)

Industrial Production (m/m-1)

Economic Sentiment Indicator

Private Final Consumption (PFC) (q/q-1)

Investment (I) (q/q-1)

Retail trade (RT) (m/m-1)

Graph 3: Labour

Graph  4: Prices

%

7.0

6.5

6.0

5.5

5.0

Growth Rate 

Growth Rate

2.0

1.0

0.0

-1.0

-2.0

1.0

0.8

0.6

0.4

0.2

0.0
0 0

-0.2

-0.4

-0.6

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

Employment (q/q-1)

Labour cost index  (q/q-1)

Unemployment rate Total (%)

HICP (m/m-1)

Industrial producer prices (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

millions  euro

45000

40000

35000

30000

25000

20000

15000

10000

5000

0

%
3.5

3.0

2.5

2.0

1.5

1.0

€/$

1.800

1.600

1.400

1.200

1.000

0.800

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

External trade balance  

BOP current account 

Long-term government bond yields - rates

Euro-dollar exchange rate

32

Eurostatistics — 01/2013 edition 

Principal European Economic Indicators (PEEIs)

2

Detailed PEEIs analysis for Estonia

Indicators

Unit

Reference Period

GDP (volume)
Private final consumption 
(volume)
Investment (GFCF) (volume)

Q/Q-1 % (1)

Q/Q-1 % (1)

Q/Q-1 % (1)

2011q3
1.0

2011q4
0.8

2012q1
0.3

2012q2
0.9

2012q3
1.6

0.1

6.6

0.9

14.9

1.4

-2.3

0.4

4.9

3.1

12.7

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2011q3
9.3

2011q4
5.9

2012q1
3.4

2012q2
2.2

2012q3
3.5

4.4

29.2

3.9

34.2

4.1

20.3

1.9

25.9

6.5

33.8

External trade balance 
(extra euro area)(1)
External trade balance 
(extra EU27) (1)

BOP Current account 
(All countries of the world)

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

mn euro

68.0

17.0

17.6

19.3

mn euro

183.6

160.8

118.2

144.7

-7.5

45.9

4.9

30.8

26.8

91.3

109.0

135.0

159.5

217.1

-39.1

67.0

:

:

:

:

2011q3

2011q4

2012q1

2012q2

2012q3

mn euro

291.0

130.0

-108.0

-86.0

:

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

M/M-1 %
M/M-12 %
M/M-1 %
M/M-12 %

2012m1
0.6
4.7
0.8
4.0

2012m2
0.4
4.4
0.4
4.4

2012m3
1.0
4.7
0.4
4.4

2012m4
0.4
4.3
0.2
3.5

2012m5
0.2
4.1
0.5
3.3

2012m6
0.1
4.4
-0.2
2.8

2012m7
0.3
4.1
0.0
2.8

2012m8
0.3
4.2
0.5
3.2

2012m9
0.4
4.1
0.1
3.1

2012m10
0.1
4.2
0.1
3.1

2012m11
-0.3
3.8
0.1
3.1

2012m12
:
:
:
:

Unemployment rate -  total (1)
Unemployment rate -  
age <25 year (1)
Unemployment rate -  
age >25 year (1)

%

%

%

Labour Cost Index (2)

Q/Q-1 % (1)

Employment

Q/Q-1 % (1)

Industrial production

Industrial new orders 

Production in construction

Retail trade deflated turnover

M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %

General government deficit (-)/ 
surplus (+)

%

General government gross debt %

2012m1
10.9

2012m2
10.7

2012m3
10.6

2012m4
10.0

2012m5
10.0

2012m6
9.9

2012m7
10.1

2012m8
10.0

2012m9
9.6

2012m10
9.5

2012m11
:

2012m12
:

22.4

9.6

2011q3
0.7
2011q3
1.9

2012m1
2.8
-0.6
-1.7
-1.2
-
-
3.8
15.3

22.2

9.4

2011q4
2.4
2011q4
-1.0

2012m2
1.5
1.5
-0.4
-8.4
-
-
1.3
15.3

22.6

9.2

2012q1
1.2
2012q1
1.3

2012m3
-3.0
-5.9
1.3
-9.6
-
-
-2.3
8.9

2005

2006

2007

1.6

4.6

2.5

4.4

2.4

3.7

21.7

8.7

2012q2
0.5
2012q2
0.9

2012m4
1.6
-3.7
7.9
2.2
-
-
1.1
10.6

2008

-2.9

4.5

22.2

8.6

2012q3
3.1
2012q3
0.0

2012m5
0.9
-0.5
:
:
-
-
0.9
11.5

2009

-2.0

7.2

22.4

8.6

21.8

8.8

  Q/Q-4 % (2)

Q/Q-4 %

2012m7
1.2
-7.1
:
:
-
-
0.1
6.9

2012m6
-1.0
-3.4
:
:
-
-
-0.6
8.7

2010

2011

0.2

6.7

1.1

6.1

19.8

8.9

2011q3
4.9
2011q3
8.9

2012m8
2.0
-3.1
:
:
-
-
0.3
7.1

18.8

8.6

2011q4
7.2
2011q4
4.8

2012m9
2.3
8.6
:
:
-
-
1.6
10.1

17.5

8.6

2012q1
7.2
2012q1
3.2

2012m10
-5.5
0.4
:
:
-
-
-1.6
6.6

:

:

2012q2
4.1
2012q2
3.1

2012m11
4.7
6.5
:
:
-
-
-0.2
4.3

:

:

2012q3
7.7
2012q3
1.2

2012m12
:
:
:
:
-
-
:
:

Economic sentiment indicator (1)  

index

101.4

102.0

103.8

102.9

101.9

102.9

101.7

102.3

100.6

100.1

99.4

101.8

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

3-month interest rate
Long term government 
bond yields bond yields 

%

%

2012m1
:

2012m2
:

2012m3
:

2012m4
:

2012m5
:

2012m6
:

2012m7
:

2012m8
:

2012m9
:

2012m10
:

2012m11
:

2012m12
:

:

:

:

:

:

:

:

:

:

:

:

:

(1)  swda: Seasonally adjusted and adjusted data by working days
(2)  wda: Adjusted data by working days 
« : » not available data; « - » not existing data
The set of indicators is selected from the PEEIs list (COM/2002/661) and complemented by certain Monetary and Financial Indicators as well as the Economic Sentiment Indicator.
Indicator 
3 months Interest rate 
Long term government bond yields 
Euro-dollar exchange rate 
Economic Sentiment Indicator 

Source
ECB
ECB
ECB
Directorate General for Economic and Financial Affairs (DG ECFIN)

  Eurostatistics — 01/2013 edition

33

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2

Estonia

Graph 1: Output

Growth rate

Index

8.0

4.0

0.0

-4.0

-8.0

-12.0

Graph 2: Demand

Growth Rate (PFC, 
I)

20.0

15.0

10.0

5.0

0.0
0 0

-5.0

-10.0

115

110

105

100

95

90

Growth Rate (RT)

6.0

4.0

2.0

0.0

-2.0
2 0

-4.0

-6.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

GDP (q/q-1)

Industrial Production (m/m-1)

Economic Sentiment Indicator

Private Final Consumption (PFC) (q/q-1)

Investment (I) (q/q-1)

Retail trade (RT) (m/m-1)

Graph 3: Labour

Graph  4: Prices

%
14.0

13.0

12.0

11.0

10.0

9.0

Growth Rate 

Growth Rate

3.0

2.0

1.0

0.0

-1.0

-2.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

Employment (q/q-1)

Labour cost index  (q/q-1)

Unemployment rate Total (%)

1.2

1.0

0.8

0.6

0.4

0.2
0 2

0.0

-0.2

-0.4

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

HICP (m/m-1)

Industrial producer prices (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

millions  euro

150

100

50

0

-50

-100

-150

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

External trade balance  

BOP current account 

€/$

1.3

1.3

1.3

1.3

1.3

1.2
1 2

1.2

1.2

1.2

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

Euro-dollar exchange rate

34

Eurostatistics — 01/2013 edition 

Principal European Economic Indicators (PEEIs)

2

Detailed PEEIs analysis for Ireland

Indicators

Unit

Reference Period

GDP (volume)
Private final consumption 
(volume)
Investment (GFCF) (volume)

Q/Q-1 % (1)

Q/Q-1 % (1)

Q/Q-1 % (1)

2011q3
-0.5

-1.3

-14.9

2011q4
0.7

2012q1
-0.5

1.6

5.8

-1.8

13.4

2012q2
0.4

-0.1

-15.4

2012q3
0.2

0.5

8.5

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2011q3
1.0

-4.0

-19.0

2011q4
2.8

2012q1
2.3

-1.4

-8.4

-2.0

6.8

2012q2
-0.5

-2.2

-13.5

2012q3
0.8

0.2

8.5

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

mn euro

1624.8

1507.3

753.0

1424.8

1616.4

1715.1

1666.5

1968.7

1505.8

1512.6

1811.4

1912.9

2137.1

1850.6

1686.0

:

:

:

:

External trade balance 
(extra euro area)(1)
External trade balance 
(extra EU27) (1)

BOP Current account 
(All countries of the world)

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

mn euro

mn euro

M/M-1 %
M/M-12 %
M/M-1 %
M/M-12 %

1762.1

2011q3

1491.0

2012m1
-0.4
1.3
0.9
4.5

1694.9

2011q4

891.1

2012q1

1744.0

-1045.0

2012m2
1.1
1.6
0.3
3.8

2012m3
1.0
2.2
0.3
3.1

1585.2

2012q2

3235.0

2012m4
0.0
1.9
1.1
3.1

1662.8

2012q3

:

2012m5
0.0
1.9
0.3
2.1

2012m6
-0.2
1.9
-0.9
2.4

2012m7
-0.1
2.0
-0.8
1.6

2012m8
0.8
2.6
1.0
2.4

2012m9
-0.1
2.4
0.0
2.3

2012m10
-0.1
2.1
0.1
3.0

2012m11
-0.5
1.6
0.4
2.8

2012m12
:
:
:
:

Unemployment rate -  total (1)
Unemployment rate -  
age <25 year (1)
Unemployment rate -  
age >25 year (1)

%

%

%

Labour Cost Index

Employment

Industrial production

Industrial new orders 

Production in construction

Retail trade deflated turnover

Q/Q-1 % (1)

Q/Q-1 % (1)

M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %

General government deficit (-)/ 
surplus (+)

%

General government gross debt %

2012m1
15.1

2012m2
15.1

2012m3
15.0

2012m4
14.9

2012m5
14.8

2012m6
14.8

2012m7
14.8

2012m8
14.8

2012m9
14.8

2012m10
14.7

2012m11
14.6

2012m12
:

31.0

13.2

2011q3
:
2011q3
-1.2

2012m1
1.3
0.1
-11.1
-3.3
-
-
-1.7
-2.4

2005

1.7

27.3

31.2

13.2

2011q4
:
2011q4
0.4

2012m2
-2.9
-3.1
-7.4
-12.7
-
-
0.1
-1.4

2006

2.9

24.6

31.1

13.1

2012q1
:
2012q1
-0.4

2012m3
3.2
4.4
4.4
8.5
-
-
0.4
-0.8

2007

0.1

25.1

31.0

12.9

2012q2
:
2012q2
-0.2

2012m4
0.6
-0.4
-4.0
-9.1
-
-
-0.7
-1.7

2008

-7.4

44.5

31.0

12.9

2012q3
:
2012q3
0.0

2012m5
2.3
4.5
:
:
-
-
2.1
2.0

2009

-13.9

64.9

31.2

12.9

30.9

12.8

  Q/Q-4 % (2)

Q/Q-4 %

2012m6
-0.4
4.9
:
:
-
-
-2.6
-1.9

2010

-30.9

2012m7
0.8
4.5
:
:
-
-
1.9
0.9

2011

-13.4

92.2

106.4

30.7

12.9

2011q3
-0.4
2011q3
-2.2

2012m8
0.4
-0.4
:
:
-
-
-0.3
0.6

30.1

13.0

2011q4
-1.2
2011q4
-0.5

2012m9
-14.7
-12.6
:
:
-
-
0.6
1.4

29.9

12.9

2012q1
0.8
2012q1
-0.9

2012m10
2.8
-16.2
:
:
-
-
2.1
4.2

29.7

12.9

2012q2
1.3
2012q2
-1.4

2012m11
-1.1
-6.6
:
:
-
-
-1.6
0.5

:

:

2012q3
3.3
2012q3
-0.2

2012m12
:
:
:
:
-
-
:
:

Economic sentiment indicator (1)  

index

:

:

:

:

:

:

:

:

:

:

:

:

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

3-month interest rate
Long term government  
bond yields 

%

%

2012m1
:

2012m2
:

2012m3
:

2012m4
:

2012m5
:

2012m6
:

2012m7
:

2012m8
:

2012m9
:

2012m10
:

2012m11
:

2012m12
:

7.71

7.02

6.90

6.88

7.12

7.09

6.12

5.91

5.28

4.77

4.59

:

(1)  swda: Seasonally adjusted and adjusted data by working days
(2)  wda: Adjusted data by working days 
« : » not available data; « - » not existing data
The set of indicators is selected from the PEEIs list (COM/2002/661) and complemented by certain Monetary and Financial Indicators as well as the Economic Sentiment Indicator.
Indicator 
3 months Interest rate 
Long term government bond yields 
Euro-dollar exchange rate 
Economic Sentiment Indicator 

Source
ECB
ECB
ECB
Directorate General for Economic and Financial Affairs (DG ECFIN)

  Eurostatistics — 01/2013 edition

35

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
2

Ireland

Graph 1: Output

Growth rate

6.0

4.0

2.0

0.0

-2.0

-4.0

-6.0

8.0
-8.0

-10.0

-12.0

-14.0

-16.0

Principal European Economic Indicators (PEEIs)

Graph 2: Demand

Growth Rate (PFC, 
I)

30.0

15.0

0.0

-15.0

-30.0

-45.0

Growth Rate (RT)

6.0

4.0

2.0

0.0

-2.0

-4.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

GDP (q/q-1)

Industrial Production (m/m-1)

Private Final Consumption (PFC) (q/q-1)

Investment (I) (q/q-1)

Retail trade (RT) (m/m-1)

Graph 3: Labour

Graph  4: Prices

%

15.5

15.0

14.5

14.0
.0

13.5

13.0

Growth Rate 

Growth rate

1.0

0.5

0.0

0.5
-0.5

-1.0

-1.5

1.5

1.0

0.5

0.0
0.0

-0.5

-1.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

HICP (m/m-1)

Industrial producer prices (m/m-1)

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

Employment (q/q-1)

Unemployment rate Total (%)

Graph 5: External Transactions

Graph 6: Financial

millions  euro

3500

3000

2500

2000

1500

1000

500

0

-500

-1000

-1500

%

14.0

12.0

10.0

8.0

6.0

4.0

€/$

1.600

1.500

1.400

1.300

1.200

1.100

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

External trade balance  

BOP current account 

Long-term government bond yields - rates

Euro-dollar exchange rate

36

Eurostatistics — 01/2013 edition 

-433.1

2012q3

:

2012m5
-0.3
0.9
-1.4
5.1

Principal European Economic Indicators (PEEIs)

2

Detailed PEEIs analysis for Greece

Indicators

Unit

Reference Period

GDP (volume)
Private final consumption 
(volume)
Investment (GFCF) (volume)

Q/Q-1 % (1)

Q/Q-1 % (1)

Q/Q-1 % (1)

2011q3
:

2011q4
:

2012q1
:

2012q2
:

2012q3
:

:

:

:

:

:

:

:

:

:

:

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2011q3
-4.0

-3.5

-15.3

2011q4
-7.9

-7.3

-23.0

2012q1
-6.7

-9.5

-22.4

2012q2
-6.3

-8.6

-19.8

2012q3
-6.9

-8.4

-19.5

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

External trade balance 
(extra euro area)(1)
External trade balance 
(extra EU27) (1)

BOP Current account 
(All countries of the world)

mn euro

mn euro

-361.2

2011q3

-482.7

-1015.2

2011q4

2012q1

-416.5

2012q2

mn euro

-2011.0

-5894.0

-4603.0

-2262.0

-435.5

-549.4

-1098.7

-506.8

-506.8

-419.8

-34.7

-589.2

-646.8

-697.8

-324.2

8.9

-559.0

-627.5

-679.0

:

:

:

:

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

M/M-1 %
M/M-12 %
M/M-1 %
M/M-12 %

2012m1
-1.1
2.1
2.8
7.7

2012m2
-1.7
1.7
0.7
6.9

2012m3
2.9
1.4
1.2
6.7

2012m4
0.8
1.5
-0.2
5.2

2012m6
-0.2
1.0
-1.8
3.1

2012m7
-1.4
0.9
2.1
4.1

2012m8
-1.2
1.2
1.6
6.8

2012m9
2.5
0.3
-0.6
5.1

2012m10
0.7
0.9
-1.0
4.1

2012m11
-0.3
0.4
-0.9
2.5

2012m12
:
:
:
:

Unemployment rate -  total (1)
Unemployment rate -  
age <25 year (1)
Unemployment rate -  
age >25 year (1)

%

%

%

Labour Cost Index

Employment

Industrial production

Industrial new orders 

Production in construction

Retail trade deflated turnover

Q/Q-1 % (1)

Q/Q-1 % (1)

M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %

General government deficit (-)/ 
surplus (+)

%

2012m1
21.5

2012m2
21.7

2012m3
22.1

2012m4
23.1

2012m5
23.8

2012m6
24.7

2012m7
24.8

2012m8
25.3

2012m9
26.0

2012m10
:

2012m11
:

2012m12
:

52.0

19.4

2011q3
-4.5
2011q3
:

2012m1
1.5
-7.4
-1.2
-12.7
:
:
0.2
-10.6

2005

-5.2

52.5

19.6

2011q4
3.3
2011q4
:

2012m2
-1.7
-9.2
-2.7
-15.1
:
:
-1.6
-12.8

2006

-5.7

52.3

20.1

2012q1
-3.7
2012q1
:

2012m3
-0.3
-8.6
1.1
-3.2
:
:
-2.7
-16.1

2007

-6.5

53.2

21.1

2012q2
1.3
2012q2
:

2012m4
0.3
-2.9
-2.6
-15.6
:
:
0.1
-13.3

2008

-9.8

54.1

21.8

2012q3
:
2012q3
:

2012m5
0.3
-3.4
:
:
:
:
0.0
-10.0

2009

-15.6

55.2

22.6

55.8

22.7

  Q/Q-4 % (2)

Q/Q-4 %

2012m6
-0.4
-0.6
:
:
:
:
-1.5
-10.6

2010

-10.7

2012m7
1.8
-5.0
:
:
:
:
0.3
-9.2

2011

-9.4

57.1

23.2

2011q3
-7.5
2011q3
-6.3

2012m8
2.0
2.9
:
:
:
:
-0.9
-9.3

57.6

23.8

2011q4
-5.1
2011q4
-7.6

2012m9
-4.0
-7.0
:
:
:
:
-2.8
-11.9

:

:

2012q1
-8.9
2012q1
-8.8

2012m10
1.0
3.4
:
:
:
:
-4.5
-18.1

:

:

2012q2
-3.4
2012q2
-9.1

2012m11
-1.5
-3.1
:
:
:
:
:
:

:

:

2012q3
:
2012q3
-8.9

2012m12
:
:
:
:
:
:
:
:

General government gross debt %

100.0

106.1

107.4

112.9

129.7

148.3

170.6

Economic sentiment indicator (1)  

index

74.9

74.9

75.7

77.3

76.0

74.1

76.1

77.0

76.1

75.8

79.0

84.1

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

3-month interest rate
Long term government  
bond yields 

%

%

2012m1
:

2012m2
:

2012m3
:

2012m4
:

2012m5
:

2012m6
:

2012m7
:

2012m8
:

2012m9
:

2012m10
:

2012m11
:

2012m12
:

25.91

29.24

19.07

21.48

26.90

27.82

25.82

24.34

20.91

17.96

17.20

:

(1)  swda: Seasonally adjusted and adjusted data by working days
(2)  wda: Adjusted data by working days 
« : » not available data; « - » not existing data
The set of indicators is selected from the PEEIs list (COM/2002/661) and complemented by certain Monetary and Financial Indicators as well as the Economic Sentiment Indicator.
Indicator 
3 months Interest rate 
Long term government bond yields 
Euro-dollar exchange rate 
Economic Sentiment Indicator 

Source
ECB
ECB
ECB
Directorate General for Economic and Financial Affairs (DG ECFIN)

  Eurostatistics — 01/2013 edition

37

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
2

Greece

Graph 1: Output

Principal European Economic Indicators (PEEIs)

Graph 2: Demand

Growth rate

Index

Growth Rate (RT)

12.0

8.0

4.0

0.0

-4.0
4 0

-8.0

-12.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

90

85

80

75

70
70

65

60

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

Industrial Production (m/m-1)

Economic Sentiment Indicator

Retail trade (RT) (m/m-1)

Graph 3: Labour

Graph  4: Prices

%

28.0

26.0

24.0

22.0

20.0

Growth Rate

Growth Rate

4.0

2.0

0.0

-2.0

-4.0

4

3

2

1

0

-1

-2

-3

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

HICP (m/m-1)

Industrial producer prices (m/m-1)

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

Labour cost index  (q/q-1)

Unemployment rate Total (%)

Graph 5: External Transactions

Graph 6: Financial

millions  euro
2000

0

-2000

-4000

-6000

-8000

%

30.0

25.0

20.0

15.0

10.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

External trade balance  

BOP current account 

Long-term government bond yields - rates

Euro-dollar exchange rate

15.0

10.0

5.0

0.0

-5.0
5 0

-10.0

-15.0

€/$

1.600

1.500

1.400

1.300

1.200

38

Eurostatistics — 01/2013 edition 

Principal European Economic Indicators (PEEIs)

2

Detailed PEEIs analysis for Spain

Indicators

Unit

Reference Period

GDP (volume)
Private final consumption 
(volume)
Investment (GFCF) (volume)

Q/Q-1 % (1)

Q/Q-1 % (1)

Q/Q-1 % (1)

2011q3
0.0

2011q4
-0.5

2012q1
-0.4

2012q2
-0.4

2012q3
-0.3

-0.6

-0.7

-1.0

-3.3

0.5

-2.5

-0.9

-3.0

-0.5

-1.4

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2011q3
0.9

2011q4
-0.4

2012q1
-0.8

2012q2
-1.6

-0.5

-4.1

-1.9

-6.8

-0.9

-7.3

-2.3

-9.3

2012q3
-1.5

-2.3

-10.4

External trade balance 
(extra euro area)(1)
External trade balance 
(extra EU27) (1)

BOP Current account 
(All countries of the world)

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

mn euro

-2849.9

-3391.8

-3751.1

-3335.0

-2310.3

-2674.8

-2541.8

-2662.5

-2108.6

-759.4

mn euro

-3120.8

-3608.0

-3892.4

-3564.2

-2530.9

-2917.2

-2614.2

-2799.4

-2270.7

-1493.8

:

:

:

:

2011q3

2011q4

2012q1

2012q2

2012q3

mn euro

-5725.0

-7201.0 -15027.0

-2856.0

:

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

M/M-1 %
M/M-12 %
M/M-1 %
M/M-12 %

2012m1
-1.7
2.0
1.8
4.9

2012m2
0.0
1.9
0.7
4.7

2012m3
2.2
1.8
0.6
4.4

2012m4
1.1
2.0
-0.8
3.0

2012m5
-0.2
1.9
-0.2
3.2

2012m6
-0.2
1.8
-0.5
2.5

2012m7
-0.9
2.2
0.7
2.6

2012m8
0.5
2.7
1.2
4.1

2012m9
1.9
3.5
-0.1
3.8

2012m10
0.5
3.5
-0.2
3.4

2012m11
-0.2
3.0
-0.5
2.8

2012m12
:
:
:
:

Unemployment rate -  total (1)
Unemployment rate -  
age <25 year (1)
Unemployment rate -  
age >25 year (1)

%

%

%

Labour Cost Index

Employment

Industrial production

Industrial new orders 

Production in construction

Retail trade deflated turnover

Q/Q-1 % (1)

Q/Q-1 % (1)

M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %

General government deficit (-)/ 
surplus (+)

%

General government gross debt %

2012m1
23.5

2012m2
23.8

2012m3
24.1

2012m4
24.4

2012m5
24.8

2012m6
25.0

2012m7
25.4

2012m8
25.6

2012m9
25.9

2012m10
26.2

2012m11
26.6

2012m12
:

50.1

21.2

2011q3
0.4
2011q3
-0.9

2012m1
-0.4
-4.4
0.3
-7.0
-2.3
-9.1
-0.1
-5.7

2005

1.3

43.2

50.8

21.5

2011q4
0.5
2011q4
-1.3

2012m2
-0.6
-5.3
-0.4
-4.7
-0.6
-8.1
-0.2
-6.6

2006

2.4

39.7

51.3

21.8

2012q1
0.1
2012q1
-1.6

2012m3
-1.9
-7.6
1.0
-4.5
-0.6
-8.9
-0.4
-3.8

2007

1.9

36.3

52.0

22.1

2012q2
0.0
2012q2
-0.6

2012m4
-0.7
-8.4
-3.9
-7.6
-1.3
-14.5
-2.0
-9.9

2008

-4.5

40.2

52.7

22.4

2012q3
0.4
2012q3
-0.8

2012m5
0.8
-6.6
:
:
-0.5
-23.2
-0.2
-4.7

2009

-11.2

53.9

53.0

22.7

53.6

23.0

  Q/Q-4 % (2)

Q/Q-4 %

2012m7
-0.2
-5.7
:
:
-0.5
-17.5
-1.0
-7.4

2011

-9.4

69.3

2012m6
-0.5
-6.3
:
:
2.0
0.1
-0.2
-5.3

2010

-9.7

61.5

54.1

23.2

2011q3
3.7
2011q3
-1.7

2012m8
1.7
-2.5
:
:
1.8
3.0
0.7
-1.9

54.6

23.4

2011q4
2.7
2011q4
-2.4

2012m9
-3.0
-7.5
:
:
0.2
-2.2
-4.8
-12.8

55.8

23.7

2012q1
2.2
2012q1
-3.5

2012m10
1.2
-3.3
:
:
0.3
2.0
-1.2
-11.5

56.5

24.0

2012q2
0.9
2012q2
-4.2

2012m11
:
:
:
:
:
:
-0.5
-9.6

:

:

2012q3
1.1
2012q3
-4.1

2012m12
:
:
:
:
:
:
:
:

Economic sentiment indicator (1)  

index

92.2

92.0

90.9

89.1

88.1

89.1

87.7

82.8

84.1

85.9

86.4

86.7

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

3-month interest rate
Long term government  
bond yields 

%

%

2012m1
:

2012m2
:

2012m3
:

2012m4
:

2012m5
:

2012m6
:

2012m7
:

2012m8
:

2012m9
:

2012m10
:

2012m11
:

2012m12
:

5.41

5.11

5.17

5.79

6.13

6.59

6.79

6.58

5.91

5.64

5.69

:

(1)  swda: Seasonally adjusted and adjusted data by working days
(2)  wda: Adjusted data by working days 
« : » not available data; « - » not existing data
The set of indicators is selected from the PEEIs list (COM/2002/661) and complemented by certain Monetary and Financial Indicators as well as the Economic Sentiment Indicator.
Indicator 
3 months Interest rate 
Long term government bond yields 
Euro-dollar exchange rate 
Economic Sentiment Indicator 

Source
ECB
ECB
ECB
Directorate General for Economic and Financial Affairs (DG ECFIN)

  Eurostatistics — 01/2013 edition

39

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
2

Spain

Graph 1: Output

Growth rate

2.0

1.0

0.0

-1.0

-2.0
2 0

-3.0

-4.0

Principal European Economic Indicators (PEEIs)

Graph 2: Demand

Index

100

Growth Rate (PFC, 
I)

6.0

95

90

85

80
80

75

70

4.0

2.0

0.0

-2.0
2 0

-4.0

-6.0

Growth Rate (RT)

4.0

2.0

0.0

-2.0

-4.0
4 0

-6.0

-8.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

GDP (q/q-1)

Industrial Production (m/m-1)

Economic Sentiment Indicator

Private Final Consumption (PFC) (q/q-1)

Investment (I) (q/q-1)

Retail trade (RT) (m/m-1)

Graph 3: Labour

Graph  4: Prices

%
27.0

26.0

25.0

24.0
24.0

23.0

22.0

Growth Rate 

Growth Rate

3.0

2.0

1.0

0.0
0.0

-1.0

-2.0

2.5

2.0

1.5

1.0

0.5

0.0

-0.5

-1.0

-1.5

-2.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

Employment (q/q-1)

Labour cost index  (q/q-1)

Unemployment rate Total (%)

HICP (m/m-1)

Industrial producer prices (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

millions  euro

0

-2000

-4000

-6000

-8000

-10000
10000

-12000

-14000

-16000

%

7.0

6.5

6.0

5.5
5.5

5.0

4.5

€/$

1.700

1.600

1.500

1.400
1.400

1.300

1.200

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

External trade balance  

BOP current account 

Long-term government bond yields - rates

Euro-dollar exchange rate

40

Eurostatistics — 01/2013 edition 

1346.9

2012q3

:

2012m5
-0.1
2.3
-1.1
2.1

Principal European Economic Indicators (PEEIs)

2

Detailed PEEIs analysis for France

Indicators

Unit

Reference Period

GDP (volume)
Private final consumption 
(volume)
Investment (GFCF) (volume)

Q/Q-1 % (1)

Q/Q-1 % (1)

Q/Q-1 % (1)

2011q3
0.2

2011q4
0.0

2012q1
0.0

2012q2
-0.1

2012q3
0.1

0.3

0.4

-0.1

1.3

0.1

-0.9

-0.2

0.4

0.2

-0.3

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2011q3
1.3

2011q4
1.0

2012q1
0.6

2012q2
-0.4

2012q3
-0.1

0.0

2.2

-0.8

3.2

0.0

1.6

-0.4

0.5

-0.3

0.2

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

External trade balance 
(extra euro area)(1)
External trade balance 
(extra EU27) (1)

BOP Current account 
(All countries of the world)

mn euro

mn euro

602.1

602.1

1103.3

2011q3

1185.8

2011q4

mn euro

-7964.0

-8029.0

-9732.0 -15795.0

2012q1

2012q2

673.1

864.9

-56.0

1115.1

-541.9

268.8

-534.7

623.2

881.6

383.6

1192.3

477.8

1426.6

691.5

697.2

:

:

:

:

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

M/M-1 %
M/M-12 %
M/M-1 %
M/M-12 %

2012m1
-0.4
2.6
0.7
4.2

2012m2
0.5
2.5
0.8
4.2

2012m3
0.9
2.6
0.5
3.8

2012m4
0.2
2.4
-0.1
2.7

2012m6
0.1
2.3
-0.8
1.3

2012m7
-0.5
2.2
0.5
1.4

2012m8
0.7
2.4
1.3
2.7

2012m9
-0.3
2.2
0.3
2.8

2012m10
0.2
2.1
0.5
2.8

2012m11
-0.2
1.6
-0.5
1.9

2012m12
:
:
:
:

Unemployment rate -  total (1)
Unemployment rate -  
age <25 year (1)
Unemployment rate -  
age >25 year (1)

%

%

%

Labour Cost Index

Employment

Industrial production

Industrial new orders 

Production in construction

Retail trade deflated turnover

Q/Q-1 % (1)

Q/Q-1 % (1)

M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %

General government deficit (-)/ 
surplus (+)

%

General government gross debt %

2012m1
9.9

2012m2
10.0

2012m3
10.1

2012m4
10.1

2012m5
10.2

2012m6
10.3

2012m7
10.3

2012m8
10.3

2012m9
10.4

2012m10
10.4

2012m11
10.5

2012m12
:

23.1

8.5

2011q3
0.0
2011q3
0.0

2012m1
0.3
-2.9
2.4
1.6
0.3
-0.6
1.0
0.7

2005

-2.9

66.4

23.2

8.5

2011q4
1.5
2011q4
-0.1

2012m2
0.4
-1.6
-0.5
2.3
-14.7
-14.4
0.4
0.2

2006

-2.3

63.7

23.4

8.6

2012q1
-0.3
2012q1
0.0

2012m3
-1.3
-2.1
-1.2
-1.4
15.5
-0.6
0.4
1.3

2007

-2.7

64.2

23.6

8.7

2012q2
0.8
2012q2
0.0

2012m4
1.7
1.2
3.0
5.2
-0.4
-0.9
-2.1
-2.0

2008

-3.3

68.2

24.1

8.7

2012q3
0.0
2012q3
-0.1

2012m5
-2.3
-4.6
:
:
-1.1
-3.6
2.3
1.8

2009

-7.5

79.2

24.5

8.7

24.9

8.7

  Q/Q-4 % (2)

Q/Q-4 %

2012m7
0.2
-3.3
:
:
0.5
-0.8
1.3
4.0

2011

-5.2

86.0

2012m6
0.1
-2.8
:
:
0.9
-0.3
0.4
1.5

2010

-7.1

82.3

25.2

8.7

2011q3
3.1
2011q3
0.5

2012m8
1.9
0.6
:
:
0.2
-1.8
-0.8
2.3

25.6

8.7

2011q4
3.4
2011q4
0.3

2012m9
-2.8
-2.4
:
:
-0.5
-1.4
-0.5
0.8

26.4

8.6

2012q1
2.0
2012q1
0.2

2012m10
-0.6
-3.0
:
:
-1.1
-2.5
0.5
1.2

27.0

8.6

2012q2
2.1
2012q2
0.0

2012m11
:
:
:
:
:
:
-0.6
-1.1

:

:

2012q3
2.0
2012q3
-0.1

2012m12
:
:
:
:
:
:
:
:

Economic sentiment indicator (1)  

index

91.7

93.5

95.6

95.3

93.3

91.7

89.1

89.2

88.2

85.8

87.6

88.0

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

3-month interest rate
Long term government  
bond yields 

%

%

2012m1
:

2012m2
:

2012m3
:

2012m4
:

2012m5
:

2012m6
:

2012m7
:

2012m8
:

2012m9
:

2012m10
:

2012m11
:

2012m12
:

3.18

3.02

2.95

2.99

2.75

2.57

2.28

2.12

2.24

2.19

2.14

:

(1)  swda: Seasonally adjusted and adjusted data by working days
(2)  wda: Adjusted data by working days 
« : » not available data; « - » not existing data
The set of indicators is selected from the PEEIs list (COM/2002/661) and complemented by certain Monetary and Financial Indicators as well as the Economic Sentiment Indicator.
Indicator 
3 months Interest rate 
Long term government bond yields 
Euro-dollar exchange rate 
Economic Sentiment Indicator 

Source
ECB
ECB
ECB
Directorate General for Economic and Financial Affairs (DG ECFIN)

  Eurostatistics — 01/2013 edition

41

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2

France

Graph 1: Output

Growth rate

Index

3.0

2.0

1.0

0.0

-1.0
1 0

-2.0

-3.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

Graph 2: Demand

Growth Rate (PFC, 
I)

1.5

1.0

0.5

0.0

-0.5
0 5

-1.0

-1.5

Growth Rate (RT)

3.0

2.0

1.0

0.0

-1.0
1 0

-2.0

-3.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

110

105

100

95

90
90

85

80

GDP (q/q-1)

Industrial Production (m/m-1)

Economic Sentiment Indicator

Private Final Consumption (PFC) (q/q-1)

Investment (I) (q/q-1)

Retail trade (RT) (m/m-1)

Graph 3: Labour

Graph  4: Prices

%

11.5

11.0

10.5

10.0
10.0

9.5

9.0

Growth Rate 

Growth Rate

2.0

1.5

1.0

0.5
0.5

0.0

-0.5

1.5

1.0

0.5

0.0

-0.5

-1.0

-1.5

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

Employment (q/q-1)

Labour cost index  (q/q-1)

Unemployment rate Total (%)

HICP (m/m-1)

Industrial producer prices (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

millions  euro

4000

2000

0

-2000

-4000

-6000

-8000

-10000
10000

-12000

-14000

-16000

-18000

%

4.5

4.0

3.5

3.0
3.0

2.5

2.0

€/$

1.600

1.500

1.400

1.300
1.300

1.200

1.100

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

External trade balance  

BOP current account 

Long-term government bond yields - rates

Euro-dollar exchange rate

42

Eurostatistics — 01/2013 edition 

-532.0

2012q2

-795.0

2012m4
0.9
3.7
0.3
2.5

-300.0

2012q3

:

2012m5
0.0
3.5
-0.3
2.3

Principal European Economic Indicators (PEEIs)

2

Detailed PEEIs analysis for Italy

Indicators

Unit

Reference Period

GDP (volume)
Private final consumption 
(volume)
Investment (GFCF) (volume)

Q/Q-1 % (1)

Q/Q-1 % (1)

Q/Q-1 % (1)

2011q3
-0.1

2011q4
-0.7

2012q1
-0.8

2012q2
-0.7

2012q3
-0.2

-0.5

-1.1

-1.2

-2.6

-1.5

-4.1

-1.2

-2.0

-1.0

-1.4

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2011q3
0.4

2011q4
-0.9

2012q1
-1.1

-0.1

-2.7

-1.7

-4.7

-3.3

-6.6

2012q2
-2.7

-4.3

-10.0

2012q3
-2.5

-4.8

-10.0

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

mn euro

-333.3

-455.5

1352.1

645.3

767.0

2249.9

1385.7

828.4

1830.4

1021.5

985.5

175.6

-388.4

725.7

-179.4

:

:

:

:

External trade balance 
(extra euro area)(1)
External trade balance 
(extra EU27) (1)

BOP Current account 
(All countries of the world)

mn euro

-1446.1

-1474.2

237.4

2011q3

2011q4

2012q1

mn euro

-8754.0

-5268.0 -13075.0

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

M/M-1 %
M/M-12 %
M/M-1 %
M/M-12 %

2012m1
-1.8
3.4
0.8
3.5

2012m2
0.2
3.4
0.4
3.2

2012m3
2.5
3.8
0.4
2.8

2012m6
0.2
3.6
-0.1
2.2

2012m7
-1.7
3.6
0.2
2.2

2012m8
0.0
3.3
0.9
3.0

2012m9
2.1
3.4
-0.1
2.8

2012m10
0.3
2.8
-0.3
2.6

2012m11
-0.3
2.6
-0.1
2.2

2012m12
:
:
:
:

Unemployment rate -  total (1)
Unemployment rate -  
age <25 year (1)
Unemployment rate -  
age >25 year (1)

%

%

%

Labour Cost Index

Employment

Industrial production

Industrial new orders 

Production in construction

Retail trade deflated turnover

Q/Q-1 % (1)

Q/Q-1 % (1)

M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %

General government deficit (-)/ 
surplus (+)

%

2012m1
9.7

2012m2
10.0

2012m3
10.3

2012m4
10.5

2012m5
10.4

2012m6
10.6

2012m7
10.5

2012m8
10.5

2012m9
10.8

2012m10
11.1

2012m11
11.1

2012m12
:

32.6

8.3

2011q3
0.4
2011q3
-0.6

2012m1
-2.1
-4.6
-7.9
-9.8
-6.7
-10.6
6.4
-0.1

2005

-4.4

33.4

8.3

2011q4
0.7
2011q4
0.0

2012m2
-1.1
-7.0
-6.0
-17.3
-8.8
-23.1
-0.4
-2.0

2006

-3.4

34.6

8.3

2012q1
0.0
2012q1
-0.7

2012m3
0.5
-5.5
7.1
-11.4
8.9
-8.6
-0.1
-1.0

2007

-1.6

34.1

8.8

2012q2
1.2
2012q2
0.6

2012m4
-1.9
-9.3
-3.5
-12.1
-4.2
-14.9
-0.7
-4.4

2008

-2.7

34.4

8.8

2012q3
0.0
2012q3
-0.1

2012m5
0.7
-6.7
:
:
-0.4
-13.6
-0.1
-3.5

2009

-5.4

33.6

8.8

34.7

8.8

  Q/Q-4 % (2)

Q/Q-4 %

2012m6
-1.1
-7.9
:
:
-0.8
-13.0
-0.1
-2.3

2010

-4.5

2012m7
-0.2
-7.1
:
:
-1.8
-14.1
-0.3
-2.8

2011

-3.9

34.5

8.8

2011q3
1.6
2011q3
0.8

2012m8
1.2
-5.2
:
:
4.9
-8.8
-0.2
-2.6

35.9

8.8

2011q4
2.6
2011q4
-0.3

2012m9
-1.3
-5.0
:
:
-7.7
-17.4
0.0
-0.4

36.5

37.1

:

2012q1
0.7
2012q1
-0.9

2012m10
-1.1
-6.2
:
:
1.9
-12.1
-0.9
-5.1

:

2012q2
2.4
2012q2
-0.5

2012m11
:
:
:
:
:
:
:
:

:

:

2012q3
2.0
2012q3
0.0

2012m12
:
:
:
:
:
:
:
:

General government gross debt %

105.7

106.3

103.3

106.1

116.4

119.2

120.7

Economic sentiment indicator (1)  

index

84.3

85.3

88.8

83.1

78.8

79.7

81.0

78.6

78.5

79.0

79.4

81.4

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

3-month interest rate
Long term government  
bond yields 

%

%

2012m1
:

2012m2
:

2012m3
:

2012m4
:

2012m5
:

2012m6
:

2012m7
:

2012m8
:

2012m9
:

2012m10
:

2012m11
:

2012m12
:

6.54

5.55

5.05

5.68

5.78

5.90

6.00

5.82

5.25

4.95

4.85

:

(1)  swda: Seasonally adjusted and adjusted data by working days
(2)  wda: Adjusted data by working days 
« : » not available data; « - » not existing data
The set of indicators is selected from the PEEIs list (COM/2002/661) and complemented by certain Monetary and Financial Indicators as well as the Economic Sentiment Indicator.
Indicator 
3 months Interest rate 
Long term government bond yields 
Euro-dollar exchange rate 
Economic Sentiment Indicator 

Source
ECB
ECB
ECB
Directorate General for Economic and Financial Affairs (DG ECFIN)

  Eurostatistics — 01/2013 edition

43

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2

Italy

Graph 1: Output

Growth rate

Index

6.0

4.0

2.0

0.0

-2.0
2 0

-4.0

-6.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

Graph 2: Demand

Growth Rate (PFC, 
I)

4.0

2.0

0.0

-2.0

-4.0

-6.0

Growth Rate (RT)

12.0

8.0

4.0

0.0

-4.0

-8.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

105

100

95

90

85
85

80

75

GDP (q/q-1)

Industrial Production (m/m-1)

Economic Sentiment Indicator

Private Final Consumption (PFC) (q/q-1)

Investment (I) (q/q-1)

Retail trade (RT) (m/m-1)

Graph 3: Labour

Graph  4: Prices

%

13.0

12.0

11.0

10.0
10.0

9.0

8.0

Growth Rate 

Growth rate

1.5

1.0

0.5

0.0
0.0

-0.5

-1.0

3.0

2.5

2.0

1.5

1.0

0.5

0.0

-0.5
0 5

-1.0

-1.5

-2.0

-2.5

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

Employment (q/q-1)

Labour cost index  (q/q-1)

Unemployment rate Total (%)

HICP (m/m-1)

Industrial producer prices (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

millions  euro
2000

0

-2000

-4000

-6000

-8000
8000

-10000

-12000

-14000

%

8.0

7.0

6.0

5.0
5.0

4.0

3.0

€/$

1.700

1.600

1.500

. 00
1.400

1.300

1.200

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

External trade balance  

BOP current account 

Long-term government bond yields - rates

Euro-dollar exchange rate

44

Eurostatistics — 01/2013 edition 

Principal European Economic Indicators (PEEIs)

2

Detailed PEEIs analysis for Cyprus

Indicators

Unit

Reference Period

GDP (volume)
Private final consumption 
(volume)
Investment (GFCF) (volume)

Q/Q-1 % (1)

Q/Q-1 % (1)

Q/Q-1 % (1)

2011q3
-0.8

2011q4
-0.3

2012q1
-0.6

2012q2
-0.8

2012q3
-0.4

0.3

-6.6

0.1

-7.1

0.0

-7.0

-2.3

-4.1

-0.6

-4.3

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2011q3
-0.4

-1.3

-15.9

2011q4
-0.8

-1.2

-19.1

2012q1
-1.6

0.0

-22.5

2012q2
-2.6

-1.6

-21.8

2012q3
-2.0

-3.8

-21.3

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

-141.1

-141.4

-159.4

-151.4

-148.0

-143.1

-159.1

-117.8

-122.5

-108.8

-126.2

-92.2

-93.9

-93.8

-90.8

:

:

:

:

External trade balance 
(extra euro area)(1)
External trade balance 
(extra EU27) (1)

BOP Current account 
(All countries of the world)

mn euro

mn euro

-92.2

-87.1

2011q3

2011q4

mn euro

-90.0

27.0

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

M/M-1 %
M/M-12 %
M/M-1 %
M/M-12 %

2012m1
-1.4
3.1
1.7
9.0

2012m2
0.4
3.1
-0.2
8.6

-119.8

2012q1

-638.0

2012m3
1.4
3.5
0.9
8.7

-111.3

2012q2

-170.0

2012m4
1.5
3.6
0.7
8.5

-113.3

2012q3

:

2012m5
0.7
3.7
2.0
9.2

2012m6
-0.1
2.9
0.4
8.9

2012m7
-1.0
3.8
-0.2
6.4

2012m8
0.9
4.5
0.4
6.7

2012m9
-0.1
3.6
0.1
6.1

2012m10
0.2
2.6
0.2
6.3

2012m11
-1.0
1.4
-0.3
5.6

2012m12
:
:
:
:

Unemployment rate -  total (1)
Unemployment rate -  
age <25 year (1)
Unemployment rate -  
age >25 year (1)

%

%

%

Labour Cost Index

Employment

Industrial production

Industrial new orders 

Production in construction

Retail trade deflated turnover

Q/Q-1 % (1)

Q/Q-1 % (1)

M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %

General government deficit (-)/ 
surplus (+)

%

General government gross debt %

2012m1
9.9

2012m2
10.2

2012m3
10.7

2012m4
11.2

2012m5
11.6

2012m6
11.7

2012m7
12.2

2012m8
12.3

2012m9
12.9

2012m10
13.8

2012m11
14.0

2012m12
:

25.4

8.3

2011q3
0.1
2011q3
-0.3

2012m1
-0.9
-10.4
:
:
:
:
1.5
-1.2

2005

-2.4

69.4

25.4

8.6

2011q4
0.7
2011q4
-0.6

2012m2
0.4
-12.7
:
:
:
:
0.6
0.9

2006

-1.2

64.7

25.4

9.1

2012q1
0.2
2012q1
-1.3

2012m3
-4.5
-16.2
:
:
:
:
-0.1
-3.7

2007

3.5

58.8

26.6

9.6

2012q2
0.4
2012q2
-0.6

2012m4
4.8
-8.5
:
:
:
:
-1.3
-5.3

2008

0.9

48.9

26.6

10.0

2012q3
0.1
2012q3
-0.6

2012m5
-1.7
-12.7
:
:
:
:
-0.8
-3.9

2009

-6.1

58.5

26.6

10.2

27.0

10.6

  Q/Q-4 % (2)

Q/Q-4 %

2012m7
0.9
-4.9
:
:
:
:
-3.1
-7.3

2011

-6.3

71.1

2012m6
-1.5
-11.7
:
:
:
:
0.9
-1.5

2010

-5.3

61.3

27.0

10.8

2011q3
1.2
2011q3
0.5

2012m8
2.7
0.3
:
:
:
:
1.3
-3.0

27.0

11.4

2011q4
1.7
2011q4
-0.5

2012m9
-6.2
-9.4
:
:
:
:
-0.5
-3.3

:

:

12.3

2012q1
1.2
2012q1
-2.4

2012m10
-1.8
-10.3
:
:
:
:
-1.5
-6.1

12.5

2012q2
1.5
2012q2
-3.0

2012m11
:
:
:
:
:
:
:
:

:

:

2012q3
0.9
2012q3
-3.2

2012m12
:
:
:
:
:
:
:
:

Economic sentiment indicator (1)  

index

78.7

76.3

74.1

79.9

74.7

74.1

71.9

71.5

67.9

66.6

63.4

64.1

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

3-month interest rate
Long term government  
bond yields 

%

%

2012m1
:

2012m2
:

2012m3
:

2012m4
:

2012m5
:

2012m6
:

2012m7
:

2012m8
:

2012m9
:

2012m10
:

2012m11
:

2012m12
:

7.00

7.00

7.00

7.00

7.00

7.00

7.00

7.00

7.00

7.00

7.00

:

(1)  swda: Seasonally adjusted and adjusted data by working days
(2)  wda: Adjusted data by working days 
« : » not available data; « - » not existing data
The set of indicators is selected from the PEEIs list (COM/2002/661) and complemented by certain Monetary and Financial Indicators as well as the Economic Sentiment Indicator.
Indicator 
3 months Interest rate 
Long term government bond yields 
Euro-dollar exchange rate 
Economic Sentiment Indicator 

Source
ECB
ECB
ECB
Directorate General for Economic and Financial Affairs (DG ECFIN)

  Eurostatistics — 01/2013 edition

45

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
2

Cyprus

Graph 1: Output

Growth rate

8.0

4.0

0.0

-4.0

-8.0

-12.0

Principal European Economic Indicators (PEEIs)

Graph 2: Demand

Growth Rate (PFC, 
I)

6.0

3.0

0.0

-3.0

-6.0

-9.0

Index

110

100

90

80

70

60

Growth Rate (RT)

12.0

8.0

4.0

0.0

-4.0

-8.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

GDP (q/q-1)

Industrial Production (m/m-1)

Economic Sentiment Indicator

Private Final Consumption (PFC) (q/q-1)

Investment (I) (q/q-1)

Retail trade (RT) (m/m-1)

Graph 3: Labour

%

2.0

1.5

1.0

0.5
0.5

0.0

-0.5

Graph  4: Prices

Growth Rate 

Growth Rate

16.0

12.0

8.0

4.0
4.0

0.0

-4.0

2.5

2.0

1.5

1.0

0.5

0.0

-0.5

-1.0

-1.5

-2.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

Employment (q/q-1)

Unemployment rate Total (%)

Labour cost index  (q/q-1)

HICP (m/m-1)

Industrial producer prices (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

millions  euro

0

-100

-200

-300

-400

-500

-600

-700

%

8.0

7.0

6.0

5.0

4.0

€/$

1.600

1.500

1.400

1.300

1.200

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

External trade balance  

BOP current account 

Long-term government bond yields - rates

Euro-dollar exchange rate

46

Eurostatistics — 01/2013 edition 

Principal European Economic Indicators (PEEIs)

2

Detailed PEEIs analysis for Latvia

Indicators

Unit

Reference Period

GDP (volume)
Private final consumption 
(volume)
Investment (GFCF) (volume)

Q/Q-1 % (1)

Q/Q-1 % (1)

Q/Q-1 % (1)

2011q3
1.2

2011q4
1.0

2012q1
1.2

2012q2
1.3

2012q3
1.7

2.3

12.8

0.8

-1.4

1.1

5.8

2.3

-0.2

0.6

0.8

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2011q3
6.6

2011q4
5.7

2012q1
6.9

2012q2
5.0

2012q3
5.2

5.9

27.6

4.3

26.0

5.6

39.0

6.9

20.5

5.1

2.0

External trade balance 
(extra EU27) (1)

BOP Current account 
(All countries of the world)

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

mn euro

73.7

57.9

55.2

29.6

62.5

56.1

105.1

128.9

156.6

94.1

:

:

2011q3

2011q4

2012q1

2012q2

2012q3

mn euro

-321.0

-63.0

-149.0

-148.0

:

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

M/M-1 %
M/M-12 %
M/M-1 %
M/M-12 %

2012m1
0.8
3.4
2.3
10.3

2012m2
0.2
3.3
0.1
10.2

2012m3
0.6
3.2
0.1
10.0

2012m4
0.7
2.8
0.5
5.7

2012m5
0.0
2.3
-0.4
3.9

2012m6
0.0
2.1
0.3
2.9

2012m7
-0.4
1.9
0.8
3.3

2012m8
-0.4
1.9
0.3
2.9

2012m9
0.4
1.9
0.1
3.1

2012m10
-0.2
1.6
0.1
3.6

2012m11
-0.1
1.5
0.2
4.2

2012m12
:
:
:
:

Unemployment rate -  total (1)
Unemployment rate -  
age <25 year (1)
Unemployment rate -  
age >25 year (1)

%

%

%

Labour Cost Index

Employment

Industrial production

Industrial new orders 

Production in construction

Retail trade deflated turnover

Q/Q-1 % (1)

Q/Q-1 % (1)

M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %

General government deficit (-)/ 
surplus (+)

%

General government gross debt %

2012m1
15.4

2012m2
15.4

2012m3
15.4

2012m4
15.7

2012m5
15.7

2012m6
15.7

2012m7
14.1

2012m8
14.1

2012m9
14.1

2012m10
:

2012m11
:

2012m12
:

29.2

13.9

2011q3
1.5
2011q3
0.1

2012m1
2.5
8.7
-7.3
11.5
-
-
6.2
15.1

2005

-0.4

12.5

29.2

13.9

2011q4
1.1
2011q4
1.5

2012m2
-0.1
7.6
-0.3
11.1
-
-
-2.3
10.0

2006

-0.5

10.7

29.2

13.9

2012q1
0.7
2012q1
-0.7

2012m3
2.0
8.5
6.7
30.7
-
-
0.5
10.2

2007

-0.4

9.0

29.3

14.2

2012q2
1.3
2012q2
1.0

2012m4
-1.2
3.8
4.0
44.7
-
-
-1.6
7.6

2008

-4.2

19.8

29.3

14.2

2012q3
0.9
2012q3
1.6

2012m5
1.8
6.0
:
:
-
-
2.0
7.6

2009

-9.8

36.7

29.3

14.2

31.9

12.2

  Q/Q-4 % (2)

Q/Q-4 %

2012m7
0.2
5.3
:
:
-
-
2.7
10.5

2011

-3.4

42.2

2012m6
0.9
5.4
:
:
-
-
2.5
8.9

2010

-8.1

44.5

31.9

12.2

2011q3
3.5
2011q3
-8.5

2012m8
2.6
9.4
:
:
-
-
1.1
10.0

31.9

12.2

2011q4
4.5
2011q4
-7.6

2012m9
-2.9
3.1
:
:
-
-
-0.1
8.6

:

:

2012q1
3.7
2012q1
1.8

2012m10
-0.3
3.1
:
:
-
-
-1.4
9.2

:

:

2012q2
4.7
2012q2
1.9

2012m11
:
:
:
:
-
-
1.4
8.7

:

:

2012q3
4.0
2012q3
3.4

2012m12
:
:
:
:
-
-
:
:

Economic sentiment indicator (1)  

index

105.3

105.7

103.8

102.8

102.3

104.6

103.0

104.1

104.3

104.2

104.2

105.1

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

3-month interest rate
Long term government  
bond yields 
Latvian Lats exchange rates 
against the euro

%

%

Average

2012m1
1.79

2012m2
1.31

2012m3
1.19

2012m4
1.00

2012m5
0.94

2012m6
0.90

2012m7
0.75

2012m8
0.61

2012m9
0.58

2012m10
0.52

2012m11
0.54

2012m12
:

5.74

0.70

5.45

0.70

5.15

0.70

5.10

0.70

5.15

0.70

5.07

0.70

4.67

0.70

4.45

0.70

3.92

0.70

3.52

0.70

3.32

0.70

:

0.70

(1)  swda: Seasonally adjusted and adjusted data by working days
(2)  wda: Adjusted data by working days 
« : » not available data; « - » not existing data
The set of indicators is selected from the PEEIs list (COM/2002/661) and complemented by certain Monetary and Financial Indicators as well as the Economic Sentiment Indicator.
Indicator 
Current account 
3 months Interest rate 
Long term government bond yields 
Euro-dollar exchange rate 
Economic Sentiment Indicator 

Source
European Central Bank (ECB) for euro area only
ECB
ECB
ECB
Directorate General for Economic and Financial Affairs (DG ECFIN)

  Eurostatistics — 01/2013 edition

47

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2

Latvia

Graph 1: Output

Growth rate

Index

12.0

8.0

4.0

0.0

-4.0

-8.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

Graph 2: Demand

Growth Rate (PFC, 
I)

20.0

15.0

10.0

5.0

0.0

-5.0

-10.0

-15.0

-20.0

Growth Rate (RT)

8.0

6.0

4.0

2.0

0.0

-2.0

-4.0

-6.0

-8.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

110

105

100

95

90

85

GDP (q/q-1)

Industrial Production (m/m-1)

Economic Sentiment Indicator

Private Final Consumption (PFC) (q/q-1)

Investment (I) (q/q-1)

Retail trade (RT) (m/m-1)

Graph 3: Labour

Graph  4: Prices

%

16.0

15.5

15.0

14.5

14.0

13.5

13.0

Growth Rate 
2.0

Growth Rate
2.5

1.5

1.0

0.5

0.0

-0.5

-1.0

2.0

1.5

1.0

0.5

0.0

-0.5

-1.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

HICP (m/m-1)

Industrial producer prices (m/m-1)

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

Labour cost index  (q/q-1)

Unemployment rate Total (%)

Graph 5: External Transactions

Graph 6: Financial

millions  euro

200

150

100

50

0

-50
50

-100

-150

-200

%

24.0

20.0

16.0

12.0

8.0
8 0

4.0

0.0

Latvian Lats/€

0.720

0.715

0.710

0.705

0.700
0 700

0.695

0.690

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

External trade balance  

BOP current account 

3-month interest rates

Long-term government bond yields - rates

Latvian Lats exchange rates against the euro

48

Eurostatistics — 01/2013 edition 

Principal European Economic Indicators (PEEIs)

2

Detailed PEEIs analysis for Lithuania

Indicators

Unit

Reference Period

GDP (volume)
Private final consumption 
(volume)
Investment (GFCF) (volume)

Q/Q-1 % (1)

Q/Q-1 % (1)

Q/Q-1 % (1)

2011q3
1.2

2011q4
1.0

2012q1
0.3

2012q2
0.6

2012q3
1.3

0.9

1.7

2.2

1.5

1.2

-2.1

0.6

-1.8

-0.3

-1.3

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2011q3
6.6

2011q4
5.7

2012q1
3.9

2012q2
2.1

2012q3
4.4

5.4

8.7

7.7

10.7

7.9

6.1

4.9

-0.9

3.1

-3.9

External trade balance 
(extra EU27) (1)

BOP Current account 
(All countries of the world)

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

mn euro

-307.7

-349.0

-260.9

-104.2

214.8

-56.2

-177.2

-226.8

-401.4

-191.2

:

:

2011q3

2011q4

2012q1

2012q2

2012q3

mn euro

-138.0

-442.0

-750.0

386.0

:

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

M/M-1 %
M/M-12 %
M/M-1 %
M/M-12 %

2012m1
0.4
3.4
1.2
9.9

2012m2
0.4
3.7
0.4
8.3

2012m3
1.0
3.7
1.1
7.2

2012m4
0.6
3.3
0.1
6.9

2012m5
0.1
2.6
-0.4
5.4

2012m6
0.0
2.6
-0.8
4.7

2012m7
0.0
2.9
1.8
4.7

2012m8
0.2
3.4
1.0
5.5

2012m9
0.7
3.3
0.3
5.3

2012m10
-0.2
3.2
-1.1
4.0

2012m11
-0.2
2.8
-0.6
3.2

2012m12
:
:
:
:

Unemployment rate -  total (1)
Unemployment rate -  
age <25 year (1)
Unemployment rate -  
age >25 year (1)

%

%

%

Labour Cost Index

Employment

Industrial production

Industrial new orders 

Production in construction

Retail trade deflated turnover

Q/Q-1 % (1)

Q/Q-1 % (1)

M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %

General government deficit (-)/ 
surplus (+)

%

General government gross debt %

2012m1
13.7

2012m2
13.6

2012m3
13.4

2012m4
13.2

2012m5
13.0

2012m6
12.9

2012m7
12.7

2012m8
12.6

2012m9
12.5

2012m10
12.4

2012m11
12.5

2012m12
:

29.8

12.3

2011q3
0.8
2011q3
-1.9

2012m1
2.2
0.6
-5.1
2.8
-
-
0.3
11.7

2005

-0.5

18.3

29.2

12.2

2011q4
1.8
2011q4
0.7

2012m2
-3.4
-0.9
1.0
6.5
-
-
-2.5
4.5

2006

-0.4

17.9

28.6

12.1

2012q1
0.7
2012q1
-5.5

2012m3
2.5
5.9
4.9
14.4
-
-
0.2
4.3

2007

-1.0

16.8

27.6

12.0

2012q2
0.7
2012q2
-0.6

2012m4
1.1
7.0
-7.0
5.0
-
-
-0.1
3.2

2008

-3.3

15.5

27.1

11.8

2012q3
1.9
2012q3
-0.3

2012m5
-15.9
-14.6
:
:
-
-
1.2
5.2

2009

-9.4

29.3

27.1

11.6

27.7

11.4

  Q/Q-4 % (2)

Q/Q-4 %

2012m7
4.7
4.3
:
:
-
-
1.4
6.2

2011

-5.5

38.5

2012m6
19.3
0.5
:
:
-
-
0.4
3.1

2010

-7.2

37.9

27.2

11.2

2011q3
3.0
2011q3
2.0

2012m8
4.1
10.6
:
:
-
-
-0.9
2.9

26.5

11.2

2011q4
3.7
2011q4
0.9

2012m9
-1.8
8.0
:
:
-
-
0.3
2.4

24.3

11.4

2012q1
4.3
2012q1
-6.5

2012m10
-0.4
10.3
:
:
-
-
1.4
4.1

24.2

11.4

2012q2
4.0
2012q2
-7.0

2012m11
:
:
:
:
-
-
-0.1
2.0

:

:

2012q3
5.1
2012q3
-5.5

2012m12
:
:
:
:
-
-
:
:

Economic sentiment indicator (1)  

index

100.5

100.4

99.8

100.3

99.9

100.3

99.9

98.0

99.3

99.3

99.5

101.4

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

3-month interest rate
Long term government  
bond yields 
Lithuanian Litas exchange rates 
against the euro

%

%

Average

2012m1
1.48

2012m2
1.43

2012m3
1.31

2012m4
1.28

2012m5
1.24

2012m6
1.20

2012m7
1.11

2012m8
0.93

2012m9
0.81

2012m10
0.76

2012m11
0.73

2012m12
:

5.35

3.45

5.15

3.45

5.29

3.45

5.30

3.45

5.30

3.45

4.96

3.45

4.82

3.45

4.84

3.45

4.53

3.45

4.32

3.45

4.11

3.45

:

3.45

(1)  swda: Seasonally adjusted and adjusted data by working days
(2)  wda: Adjusted data by working days 
« : » not available data; « - » not existing data
The set of indicators is selected from the PEEIs list (COM/2002/661) and complemented by certain Monetary and Financial Indicators as well as the Economic Sentiment Indicator.
Indicator 
Current account 
3 months Interest rate 
Long term government bond yields 
Euro-dollar exchange rate 
Economic Sentiment Indicator 

Source
European Central Bank (ECB) for euro area only
ECB
ECB
ECB
Directorate General for Economic and Financial Affairs (DG ECFIN)

  Eurostatistics — 01/2013 edition

49

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2

Lithuania

Graph 1: Output

Growth rate

Index

20.0

10.0

0.0

-10.0

-20.0

Graph 2: Demand

Growth Rate (PFC, 
I)

30.0

20.0

10.0

0.0

-10.0

-20.0

115

110

105

100

95

Growth Rate (RT)

6.0

4.0

2.0

0.0

-2.0

-4.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

GDP (q/q-1)

Industrial Production (m/m-1)

Economic Sentiment Indicator

Private Final Consumption (PFC) (q/q-1)

Investment (I) (q/q-1)

Retail trade (RT) (m/m-1)

Graph 3: Labour

%

14.5

14.0

13.5

13.0

12.5

12.0

Growth Rate 

4.0

2.0

0.0

-2.0

-4.0

-6.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

Graph  4: Prices

Growth Rate

2

2

1

1

0

-1

-1

-2

Employment (q/q-1)

Labour cost index  (q/q-1)

Unemployment rate Total (%)

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

HICP (m/m-1)

Industrial producer prices (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

millions  euro

600

400

200

0

-200

-400
400

-600

-800

-1000

%

16.0

14.0

12.0

10.0

8.0

6.0

4.0

2.0

0.0

Lithuanian Litas/€

3.465

3.460

3.455

3.450

3.445
3 445

3.440

3.435

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

External trade balance  

BOP current account 

3-month interest rates

Long-term government bond yields - rates

Lithuanian Litas exchange rates against the euro

50

Eurostatistics — 01/2013 edition 

Principal European Economic Indicators (PEEIs)

2

Detailed PEEIs analysis for Luxembourg

Indicators

Unit

Reference Period

GDP (volume)
Private final consumption 
(volume)
Investment (GFCF) (volume)

Q/Q-1 % (1)

Q/Q-1 % (1)

Q/Q-1 % (1)

2011q3
0.7

2011q4
-0.3

2012q1
0.1

2012q2
0.5

2012q3
-0.3

1.2

9.4

0.5

9.1

1.1

-6.0

-1.3

-2.1

-0.1

-3.0

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2011q3
1.1

2011q4
-0.4

2012q1
-0.4

2012q2
0.9

2012q3
0.0

2.9

14.6

2.9

24.9

4.6

14.6

1.5

9.2

0.0

-3.0

External trade balance 
(extra euro area)(1)
External trade balance 
(extra EU27) (1)

BOP Current account 
(All countries of the world)

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

mn euro

143.1

82.0

-57.7

1.1

-136.1

-54.3

-100.8

-79.2

-183.1

-127.1

mn euro

-120.9

-133.3

-196.6

-129.6

-186.0

-100.3

-127.8

-103.3

-217.8

-161.8

:

:

:

:

2011q3

2011q4

2012q1

2012q2

2012q3

mn euro

776.0

628.0

764.0

576.0

:

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

M/M-1 %
M/M-12 %
M/M-1 %
M/M-12 %

2012m1
-0.5
3.2
2.5
6.7

2012m2
1.6
3.3
0.3
4.7

2012m3
0.5
2.9
0.6
4.9

2012m4
0.4
3.0
0.4
4.9

2012m5
-0.2
2.7
-0.1
4.6

2012m6
-0.2
2.6
0.0
4.3

2012m7
-0.8
2.7
-0.2
2.4

2012m8
1.5
2.8
-0.1
2.1

2012m9
0.5
3.2
-0.3
1.2

2012m10
0.1
3.2
-0.1
2.0

2012m11
-0.2
2.7
:
:

2012m12
:
:
:
:

Unemployment rate -  total (1)
Unemployment rate -  
age <25 year (1)
Unemployment rate -  
age >25 year (1)

%

%

%

Labour Cost Index

Employment

Industrial production

Industrial new orders 

Production in construction

Retail trade deflated turnover

Q/Q-1 % (1)

Q/Q-1 % (1)

M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %

General government deficit (-)/ 
surplus (+)

%

General government gross debt %

2012m1
4.9

2012m2
4.9

2012m3
5.0

2012m4
4.9

2012m5
5.0

2012m6
5.0

2012m7
5.1

2012m8
5.0

2012m9
5.1

2012m10
5.1

2012m11
5.1

2012m12
:

18.2

4.0

2011q3
0.3
2011q3
0.5

2012m1
-2.6
-11.1
-5.0
-16.7
9.4
-5.5
-2.1
9.0

18.4

4.1

2011q4
1.3
2011q4
0.6

2012m2
2.3
-10.0
-2.1
-10.5
-12.3
-21.4
-0.4
5.1

18.6

4.1

2012q1
-0.3
2012q1
0.5

2012m3
5.3
-0.1
-3.0
-9.3
7.8
-3.0
2.3
12.2

2005

2006

2007

0.0

6.1

1.4

6.7

3.7

6.7

17.9

4.1

2012q2
0.8
2012q2
0.5

2012m4
-6.3
-7.4
:
:
-7.7
-10.0
-1.5
5.9

2008

3.2

14.4

18.1

4.1

2012q3
0.8
2012q3
0.4

2012m5
1.6
-7.8
:
:
2.5
-13.5
2.0
9.2

2009

-0.8

15.3

17.8

4.1

18.1

4.2

  Q/Q-4 % (2)

Q/Q-4 %

2012m7
-0.7
-5.9
:
:
-4.6
-5.1
1.5
10.3

2011

-0.3

18.3

2012m6
0.6
-0.9
:
:
3.1
7.4
-0.2
7.9

2010

-0.8

19.2

17.9

4.2

2011q3
2.4
2011q3
3.0

2012m8
-0.5
-10.3
:
:
10.6
6.1
1.2
11.8

18.1

4.2

2011q4
4.3
2011q4
2.9

2012m9
0.7
-1.8
:
:
-8.8
-4.1
-0.3
9.4

18.6

4.2

2012q1
1.3
2012q1
2.7

2012m10
-2.0
-4.3
:
:
1.4
-0.4
-0.4
6.8

18.6

4.2

2012q2
1.9
2012q2
2.2

2012m11
:
:
:
:
:
:
-1.5
0.9

:

:

2012q3
2.9
2012q3
2.1

2012m12
:
:
:
:
:
:
:
:

Economic sentiment indicator (1)  

index

96.9

90.4

96.3

85.1

81.6

88.3

87.7

85.9

88.1

77.1

81.3

77.6

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

3-month interest rate
Long term government 
bond yields ** 

%

%

2012m1
:

2012m2
:

2012m3
:

2012m4
:

2012m5
:

2012m6
:

2012m7
:

2012m8
:

2012m9
:

2012m10
:

2012m11
:

2012m12
:

2.07

2.03

2.22

2.22

1.92

1.82

1.70

1.66

1.65

1.62

1.52

:

(1)  swda: Seasonally adjusted and adjusted data by working days
(2)  wda: Adjusted data by working days 
« : » not available data; « - » not existing data
The set of indicators is selected from the PEEIs list (COM/2002/661) and complemented by certain Monetary and Financial Indicators as well as the Economic Sentiment Indicator.
Indicator 
3 months Interest rate 
Long term government bond yields 
Euro-dollar exchange rate 
Economic Sentiment Indicator 
** “Due to the fact that the Luxembourg Government does not have outstanding long-term debt securities with a residual maturity of close to ten years, the indicator is based on a basket of long-
term bonds. This basket has an average residual maturity of close to ten years. The bonds are issued by a private credit institution and the indicator is thus not fully harmonised” source ECB

Source
ECB
ECB
ECB
Directorate General for Economic and Financial Affairs (DG ECFIN)

  Eurostatistics — 01/2013 edition

51

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
2

Luxembourg

Graph 1: Output

Growth rate

8.0

4.0

0.0

-4.0

-8.0

-12.0

Principal European Economic Indicators (PEEIs)

Graph 2: Demand

Index

100

Growth Rate (PFC, 
I)

15.0

95

90

85

80

75

10.0

5.0

0.0

-5.0

-10.0

Growth Rate (RT)

6.0

3.0

0.0

-3.0

-6.0

-9.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

GDP (q/q-1)

Industrial Production (m/m-1)

Economic Sentiment Indicator

Private Final Consumption (PFC) (q/q-1)

Investment (I) (q/q-1)

Retail trade (RT) (m/m-1)

Graph 3: Labour

Graph  4: Prices

%

5.4

5.2

5.0

4.8

4.6

Growth Rate 

Growth Rate

2.0

1.0

0.0

-1.0

-2.0

3

3

2

2

1

1
1

0

-1

-1

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

HICP (m/m-1)

Industrial producer prices (m/m-1)

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

Labour cost index  (q/q-1)

Unemployment rate Total (%)

Graph 5: External Transactions

Graph 6: Financial

millions  euro
1000

800

600

400

200

0

-200

-400

%

3.50

3.00

2.50

2.00
2.00

1.50

1.00

€/$

1.600

1.500

1.400

1.300
1.300

1.200

1.100

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

External trade balance  

BOP current account 

Long-term government bond yields - rates

Euro-dollar exchange rate

52

Eurostatistics — 01/2013 edition 

Principal European Economic Indicators (PEEIs)

2

Detailed PEEIs analysis for Hungary

Indicators

Unit

Reference Period

GDP (volume)
Private final consumption 
(volume)
Investment (GFCF) (volume)

Q/Q-1 % (1)

Q/Q-1 % (1)

Q/Q-1 % (1)

2011q3
0.1

2011q4
0.1

2012q1
-1.1

2012q2
-0.4

2012q3
-0.2

0.7

-1.0

-0.4

-0.8

-0.8

-1.8

-0.6

-0.9

-1.4

-1.0

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2011q3
1.4

2011q4
1.3

2012q1
-0.7

2012q2
-1.5

2012q3
-1.5

1.2

-4.7

1.1

-2.4

-0.3

-6.6

-0.5

-4.5

-3.9

-3.6

External trade balance 
(extra EU27) (1)

BOP Current account 
(All countries of the world)

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

mn euro

-244.3

-210.7

-234.5

-220.6

-179.4

-88.4

-235.4

-216.9

-224.6

-78.6

:

:

2011q3

2011q4

2012q1

2012q2

2012q3

mn euro

339.0

27.0

-14.0

519.0

:

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

M/M-1 %
M/M-12 %
M/M-1 %
M/M-12 %

2012m1
2.4
5.6
0.8
7.8

2012m2
0.6
5.8
0.3
7.6

2012m3
0.8
5.5
-0.1
7.4

2012m4
0.8
5.6
0.4
7.0

2012m5
-0.1
5.4
0.6
7.4

2012m6
0.0
5.6
-1.1
6.9

2012m7
-0.2
5.7
0.4
6.1

2012m8
0.1
6.0
0.0
5.7

2012m9
0.4
6.4
0.3
4.3

2012m10
0.2
6.0
-0.1
2.8

2012m11
-0.1
5.3
-0.6
0.6

2012m12
:
:
:
:

Unemployment rate -  total (1)
Unemployment rate -  
age <25 year (1)
Unemployment rate -  
age >25 year (1)

%

%

%

Labour Cost Index

Employment

Industrial production

Industrial new orders 

Production in construction

Retail trade deflated turnover

Q/Q-1 % (1)

Q/Q-1 % (1)

M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %

General government deficit (-)/ 
surplus (+)

%

General government gross debt %

2012m1
11.1

2012m2
11.1

2012m3
11.1

2012m4
11.1

2012m5
11.0

2012m6
10.8

2012m7
10.7

2012m8
10.7

2012m9
10.8

2012m10
10.9

2012m11
:

2012m12
:

27.7

10.0

2011q3
0.4
2011q3
0.7

2012m1
2.8
-1.6
0.9
-1.7
-1.4
-1.1
-0.4
0.4

2005

-7.9

61.7

27.1

10.0

2011q4
1.7
2011q4
0.1

2012m2
-0.2
-3.6
8.7
-4.2
-7.0
-14.9
-0.5
-1.3

2006

-9.4

65.9

27.1

10.0

2012q1
2.0
2012q1
-0.6

2012m3
0.5
0.8
13.8
19.6
1.2
-12.8
0.5
1.5

2007

-5.1

67.0

27.5

9.9

2012q2
1.9
2012q2
0.4

2012m4
-2.4
-2.9
-14.8
5.5
3.1
-1.3
-1.3
-3.1

2008

-3.7

73.0

28.6

9.7

2012q3
0.9
2012q3
-0.4

2012m5
3.6
2.3
:
:
-4.9
-15.6
0.1
-2.2

2009

-4.6

79.8

28.6

9.5

28.9

9.4

  Q/Q-4 % (2)

Q/Q-4 %

2012m7
-0.9
-2.0
:
:
9.8
7.7
-0.7
-2.5

2011

4.3

81.4

2012m6
-2.4
0.4
:
:
-0.5
-11.6
0.0
-1.2

2010

-4.4

81.8

29.0

9.3

2011q3
4.2
2011q3
0.6

2012m8
2.7
1.8
:
:
-4.9
-4.6
-0.2
-2.4

29.9

9.3

2011q4
6.5
2011q4
0.4

2012m9
0.5
0.6
:
:
5.7
6.7
-0.4
-3.1

29.3

9.5

2012q1
3.8
2012q1
0.1

2012m10
-3.8
-3.8
:
:
-3.2
1.3
-0.4
-3.7

:

:

2012q2
6.3
2012q2
0.7

2012m11
:
:
:
:
:
:
:
:

:

:

2012q3
6.8
2012q3
-0.5

2012m12
:
:
:
:
:
:
:
:

Economic sentiment indicator (1)  

index

83.4

87.4

92.8

92.2

85.4

86.9

88.2

88.3

86.4

87.9

87.8

92.2

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

3-month interest rate
Long term government  
bond yields 
Hungarian forint exchange rates 
against the euro

%

%

2012m1
8.54

2012m2
8.83

2012m3
:

2012m4
8.19

2012m5
8.22

2012m6
:

2012m7
8.00

2012m8
7.77

2012m9
:

2012m10
6.84

2012m11
:

2012m12
:

9.51

8.60

8.73

8.77

8.33

8.30

7.56

7.36

7.28

6.94

6.87

:

Average

307.33

290.68

292.26

294.81

293.67

293.57

286.28

278.93

284.22

282.09

282.26

285.79

(1)  swda: Seasonally adjusted and adjusted data by working days
(2)  wda: Adjusted data by working days 
« : » not available data; « - » not existing data
The set of indicators is selected from the PEEIs list (COM/2002/661) and complemented by certain Monetary and Financial Indicators as well as the Economic Sentiment Indicator.
Indicator 
Current account 
3 months Interest rate 
Long term government bond yields 
Euro-dollar exchange rate 
Economic Sentiment Indicator 

Source
European Central Bank (ECB) for euro area only
ECB
ECB
ECB
Directorate General for Economic and Financial Affairs (DG ECFIN)

  Eurostatistics — 01/2013 edition

53

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2

Hungary

Graph 1: Output

Growth rate

Index

20.0

15.0

10.0

5.0

0.0

-5.0

-10.0

-15.0

Graph 2: Demand

Growth Rate (PFC, 
I)

2.0

1.0

0.0

-1.0

-2.0

-3.0

130

120

110

100

90

80

70

60

Growth Rate (RT)

2.0

1.0

0.0

-1.0

-2.0

-3.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

GDP (q/q-1)

Industrial Production (m/m-1)

Economic Sentiment Indicator

Private Final Consumption (PFC) (q/q-1)

Investment (I) (q/q-1)

Retail trade (RT) (m/m-1)

Graph 3: Labour

Graph  4: Prices

%

12.0

11.5

11.0

10.5

10.0

9.5

Growth Rate 

Growth Rate

9.0

6.0

3.0

0.0

-3.0

-6.0

3.0

2.5

2.0

1.5

1.0

0.5

0.0

-0.5

-1.0

-1.5

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

HICP (m/m-1)

Industrial producer prices (m/m-1)

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

Employment (q/q-1)

Labour cost index  (q/q-1)

Unemployment rate Total (%)

Graph 5: External Transactions

Graph 6: Financial

millions  euro

600

500

400

300

200

100

0

-100

-200

-300

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

%

11.0

10.0

9.0

8.0

7.0

6.0

5.0

Hungarian forin/€

320

305

290

275

260

245

230

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

External trade balance  

BOP current account 

3-month interest rates

Long-term government bond yields - rates

Hungarian forint exchange rates against the euro

54

Eurostatistics — 01/2013 edition 

Principal European Economic Indicators (PEEIs)

2

Detailed PEEIs analysis for Malta

Indicators

Unit

Reference Period

GDP (volume)
Private final consumption 
(volume)
Investment (GFCF) (volume)

Q/Q-1 % (1)

Q/Q-1 % (1)

Q/Q-1 % (1)

2011q3
0.2

2011q4
-0.4

2012q1
0.0

2012q2
1.4

2012q3
0.9

3.0

10.5

-5.0

-2.0

-0.8

-6.5

-2.7

0.5

8.1

10.8

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2011q3
1.8

3.5

-21.4

2011q4
-0.7

2012q1
-0.9

2012q2
1.3

2012q3
1.9

0.1

-5.7

-2.5

1.1

-4.1

3.5

-1.7

2.2

External trade balance 
(extra euro area)(1)
External trade balance 
(extra EU27) (1)

BOP Current account 
(All countries of the world)

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

mn euro

mn euro

67.6

79.3

101.5

124.2

40.2

94.1

50.8

76.7

2.5

52.1

-25.7

6.6

-37.4

-8.6

13.8

88.8

40.0

64.5

28.0

47.7

:

:

:

:

2011q3

2011q4

2012q1

2012q2

2012q3

mn euro

261.0

28.0

-75.0

55.0

:

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

M/M-1 %
M/M-12 %
M/M-1 %
M/M-12 %

2012m1
-1.1
1.7
0.0
0.7

2012m2
0.6
2.6
0.1
0.7

2012m3
1.5
2.6
0.1
0.6

2012m4
3.4
3.8
0.1
0.7

2012m5
1.2
3.7
0.0
0.6

2012m6
1.1
4.4
0.0
0.6

2012m7
-0.3
4.2
0.2
0.8

2012m8
0.2
3.2
0.0
0.9

2012m9
-0.7
2.9
0.3
1.1

2012m10
-0.7
3.2
0.0
0.9

2012m11
-1.9
3.6
0.0
0.9

2012m12
:
:
:
:

Unemployment rate -  total (1)
Unemployment rate -  
age <25 year (1)
Unemployment rate -  
age >25 year (1)

%

%

%

Labour Cost Index

Employment

Industrial production

Industrial new orders 

Production in construction

Retail trade deflated turnover

Q/Q-1 % (1)

Q/Q-1 % (1)

M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %

General government deficit (-)/ 
surplus (+)

%

General government gross debt %

2012m1
6.1

2012m2
6.0

2012m3
6.2

2012m4
6.3

2012m5
6.6

2012m6
6.7

2012m7
6.6

2012m8
6.7

2012m9
6.7

2012m10
6.8

2012m11
6.9

2012m12
:

13.4

4.7

2011q3
1.3
2011q3
1.5

2012m1
2.1
-5.3
6.9
-12.6
-
-
-0.3
-2.9

2005

-2.9

69.7

13.0

4.7

2011q4
0.8
2011q4
-0.1

2012m2
-2.4
-10.0
0.7
-7.8
-
-
3.0
4.5

2006

-2.8

64.0

13.3

4.8

2012q1
0.3
2012q1
1.3

2012m3
2.8
-3.2
-3.0
-8.2
-
-
0.0
2.8

2007

-2.3

61.9

13.4

5.0

2012q2
-0.3
2012q2
-0.7

2012m4
2.5
-0.2
:
:
-
-
0.3
3.9

2008

-4.6

62.0

14.7

5.1

2012q3
0.6
2012q3
0.5

2012m5
0.0
1.1
:
:
-
-
-1.7
0.6

2009

-3.9

67.6

15.5

5.1

15.5

4.9

  Q/Q-4 % (2)

Q/Q-4 %

2012m7
0.7
4.9
:
:
-
-
-1.8
-1.5

2011

-2.7

70.9

2012m6
-0.1
2.4
:
:
-
-
-1.0
-0.2

2010

-3.6

68.3

16.0

4.9

2011q3
2.1
2011q3
3.0

2012m8
1.8
7.8
:
:
-
-
0.0
-3.1

15.9

4.8

2011q4
2.6
2011q4
2.4

2012m9
-1.0
5.6
:
:
-
-
0.1
-1.8

16.5

4.9

2012q1
3.1
2012q1
2.6

2012m10
0.5
5.5
:
:
-
-
-0.1
-3.2

16.4

5.1

2012q2
2.0
2012q2
1.6

2012m11
-0.4
6.1
:
:
-
-
-0.2
-3.3

:

:

2012q3
1.2
2012q3
:

2012m12
:
:
:
:
-
-
:
:

Economic sentiment indicator (1)  

index

94.8

93.3

93.9

94.0

95.1

94.5

97.7

98.6

93.9

95.8

95.8

98.5

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

3-month interest rate
Long term government  
bond yields 

%

%

2012m1
:

2012m2
:

2012m3
:

2012m4
:

2012m5
:

2012m6
:

2012m7
:

2012m8
:

2012m9
:

2012m10
:

2012m11
:

2012m12
:

4.30

4.17

4.31

4.26

4.19

4.27

4.15

4.04

4.00

3.99

3.95

:

(1)  swda: Seasonally adjusted and adjusted data by working days
(2)  wda: Adjusted data by working days 
« : » not available data; « - » not existing data
The set of indicators is selected from the PEEIs list (COM/2002/661) and complemented by certain Monetary and Financial Indicators as well as the Economic Sentiment Indicator.
Indicator 
3 months Interest rate 
Long term government bond yields 
Euro-dollar exchange rate 
Economic Sentiment Indicator 

Source
ECB
ECB
ECB
Directorate General for Economic and Financial Affairs (DG ECFIN)

  Eurostatistics — 01/2013 edition

55

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
2

Malta

Graph 1: Output

Growth rate

12.0

8.0

4.0

0.0

-4.0

-8.0

Principal European Economic Indicators (PEEIs)

Graph 2: Demand

Growth Rate (PFC, 
I)

30.0

110.0

105.0

15.0

100.0

0.0

95.0

90.0

85.0

-15.0

-30.0

-45.0

Growth Rate (RT)

12.0

8.0

4.0

0.0

-4.0

-8.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

GDP (q/q-1)

Industrial Production (m/m-1)

Economic Sentiment Indicator

Private Final Consumption (PFC) (q/q-1)

Investment (I) (q/q-1)

Retail trade (RT) (m/m-1)

Graph 3: Labour

Graph  4: Prices

%

7.4

7.0

6.6

6.2

5.8

5.4

Growth Rate 

Growth Rate

1.5

1.0

0.5

0.0

-0.5

-1.0

4.0

3.0

2.0

1.0

0.0

-1.0

-2.0

-3.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

HICP (m/m-1)

Industrial producer prices (m/m-1)

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

Labour cost index  (q/q-1)

Employment (q/q-1)

Unemployment rate Total (%)

Graph 5: External Transactions

Graph 6: Financial

millions  euro

150

100

50

0

-50

-100

%

4.4

4.3

4.2

4.1

4.0

3.9

3.8

3.7

€/$

1.800

1.700

1.600

1.500

1.400

1.300

1.200

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

External trade balance  

BOP current account 

Long-term government bond yields - rates

Euro-dollar exchange rate

56

Eurostatistics — 01/2013 edition 

Principal European Economic Indicators (PEEIs)

2

Detailed PEEIs analysis for Netherlands

Indicators

Unit

Reference Period

GDP (volume)
Private final consumption 
(volume)
Investment (GFCF) (volume)

Q/Q-1 % (1)

Q/Q-1 % (1)

Q/Q-1 % (1)

2011q3
-0.2

2011q4
-0.7

2012q1
0.1

2012q2
0.1

2012q3
-0.9

-0.4

-0.3

-0.7

-1.5

-0.1

-0.6

-0.3

-0.9

-0.3

-2.7

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2011q3
0.9

2011q4
-0.8

2012q1
-0.8

2012q2
-0.4

2012q3
-1.5

-1.2

4.9

-2.3

3.5

-0.7

-5.2

-1.3

-3.1

-1.4

-5.7

External trade balance 
(extra euro area)(1)
External trade balance 
(extra EU27) (1)

BOP Current account 
(All countries of the world)

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

mn euro

-8289.0 -10629.4

-8956.7

-8805.0

-8738.2

-8863.6

-9694.7

-9201.7

-8101.3

-8467.8

mn euro

-9939.3 -12417.3 -10512.4 -10589.7 -10747.7 -10832.7 -11384.5 -10523.2

-9617.8 -10325.6

:

:

:

:

2011q3

2011q4

2012q1

2012q2

2012q3

mn euro

13512.0

16905.0

17172.0

11202.0

:

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

M/M-1 %
M/M-12 %
M/M-1 %
M/M-12 %

2012m1
0.1
2.9
1.5
4.7

2012m2
1.0
2.9
1.0
4.6

2012m3
1.4
2.9
0.6
4.0

2012m4
0.5
2.8
-0.1
2.6

2012m5
-0.2
2.5
-0.5
2.2

2012m6
-0.6
2.5
-1.1
1.7

2012m7
0.4
2.6
0.4
2.2

2012m8
0.1
2.5
1.2
4.0

2012m9
0.5
2.5
0.9
4.2

2012m10
0.8
3.3
0.5
4.5

2012m11
-0.5
3.2
0.2
4.0

2012m12
:
:
:
:

Unemployment rate -  total (1)
Unemployment rate -  
age <25 year (1)
Unemployment rate -  
age >25 year (1)

%

%

%

Labour Cost Index

Employment

Industrial production

Industrial new orders 

Production in construction

Retail trade deflated turnover

Q/Q-1 % (1)

Q/Q-1 % (1)

M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %

General government deficit (-)/ 
surplus (+)

%

General government gross debt %

2012m1
5.0

2012m2
4.9

2012m3
5.0

2012m4
5.2

2012m5
5.1

2012m6
5.1

2012m7
5.3

2012m8
5.3

2012m9
5.4

2012m10
5.5

2012m11
5.6

2012m12
:

9.0

4.2

2011q3
0.4
2011q3
0.2

2012m1
-0.5
-5.0
3.8
1.2
-0.7
-1.6
0.6
-0.5

2005

-0.3

51.8

9.4

4.1

2011q4
-0.4
2011q4
0.0

2012m2
11.4
5.2
-2.2
-5.1
-3.4
-17.1
-1.5
-5.3

2006

0.5

47.4

9.3

4.2

2012q1
0.6
2012q1
-0.1

2012m3
-9.0
-3.4
0.8
-4.0
0.7
-8.6
-0.4
-2.3

2007

0.2

45.3

9.5

4.4

2012q2
-0.1
2012q2
0.0

2012m4
2.6
4.5
2.7
1.0
-0.8
-6.7
-1.3
-6.1

2008

0.5

58.5

9.2

4.4

2012q3
0.3
2012q3
-0.4

2012m5
1.3
1.1
:
:
-0.6
-9.7
0.5
-3.5

2009

-5.6

60.8

9.3

4.3

9.2

4.5

  Q/Q-4 % (2)

Q/Q-4 %

2012m7
-1.6
-3.6
:
:
-0.4
-8.4
0.4
-2.6

2011

-4.5

65.5

2012m6
-1.0
-0.1
:
:
-1.0
-8.7
0.0
-2.2

2010

-5.1

63.1

9.4

4.5

2011q3
2.7
2011q3
0.7

2012m8
1.2
-1.2
:
:
-0.6
-7.8
-0.3
-3.5

9.7

4.6

2011q4
1.5
2011q4
0.6

2012m9
-0.1
-0.7
:
:
-1.4
-7.3
0.1
0.3

9.8

4.7

2012q1
0.9
2012q1
0.1

2012m10
:
:
:
:
-1.4
-10.6
-1.4
-3.7

9.7

4.8

2012q2
0.5
2012q2
0.1

2012m11
:
:
:
:
:
:
:
:

:

:

2012q3
0.5
2012q3
-0.5

2012m12
:
:
:
:
:
:
:
:

Economic sentiment indicator (1)  

index

89.5

90.7

89.4

90.6

86.7

86.4

87.0

87.6

86.4

87.2

84.0

84.2

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

3-month interest rate
Long term government  
bond yields 

%

%

2012m1
:

2012m2
:

2012m3
:

2012m4
:

2012m5
:

2012m6
:

2012m7
:

2012m8
:

2012m9
:

2012m10
:

2012m11
:

2012m12
:

2.20

2.24

2.25

2.29

1.96

1.93

1.75

1.76

1.84

1.77

1.65

:

(1)  swda: Seasonally adjusted and adjusted data by working days
(2)  wda: Adjusted data by working days 
« : » not available data; « - » not existing data
The set of indicators is selected from the PEEIs list (COM/2002/661) and complemented by certain Monetary and Financial Indicators as well as the Economic Sentiment Indicator.
Indicator 
3 months Interest rate 
Long term government bond yields 
Euro-dollar exchange rate 
Economic Sentiment Indicator 

Source
ECB
ECB
ECB
Directorate General for Economic and Financial Affairs (DG ECFIN)

  Eurostatistics — 01/2013 edition

57

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2

Netherlands

Graph 1: Output

Growth rate

Index

15.0

10.0

5.0

0.0

-5.0

-10.0

Graph 2: Demand

Growth Rate (PFC, 
I)

12.0

8.0

4.0

0.0

-4.0

105

100

95

90

85

80

Growth Rate (RT)

4.0

2.0

0.0

-2.0

-4.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

GDP (q/q-1)

Industrial Production (m/m-1)

Economic Sentiment Indicator

Private Final Consumption (PFC) (q/q-1)

Investment (I) (q/q-1)

Retail trade (RT) (m/m-1)

Graph 3: Labour

Graph  4: Prices

%

6.0

5.6

5.2

4.8

4.4

Growth Rate 

Growth Rate

1.5

1.0

0.5

0.0

-0.5

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

Employment (q/q-1)

Labour cost index  (q/q-1)

Unemployment rate Total (%)

2.0

1.5

1.0

0.5

0.0

-0.5

-1.0

-1.5

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

HICP (m/m-1)

Industrial producer prices (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

millions  euro

20000

15000

10000

5000

0

-5000

-10000

-15000

%

3.5

3.0

2.5

2.0
2 0

1.5

1.0

€/$

1.700

1.600

1.500

1.400
1 400

1.300

1.200

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

External trade balance  

BOP current account 

Long-term government bond yields - rates

Euro-dollar exchange rate

58

Eurostatistics — 01/2013 edition 

Principal European Economic Indicators (PEEIs)

2

Detailed PEEIs analysis for Austria

Indicators

Unit

Reference Period

GDP (volume)
Private final consumption 
(volume)
Investment (GFCF) (volume)

Q/Q-1 % (1)

Q/Q-1 % (1)

Q/Q-1 % (1)

2011q3
0.0

2011q4
0.1

2012q1
0.3

2012q2
0.1

2012q3
0.1

0.1

1.1

0.1

0.6

0.0

0.1

0.1

-0.2

0.0

-0.1

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2011q3
1.8

2011q4
0.4

2012q1
1.7

2012q2
0.1

2012q3
0.7

0.1

7.6

0.5

5.1

1.9

3.2

0.1

0.4

0.1

-0.2

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

906.7

542.7

730.4

402.3

969.3

660.0

942.3

629.2

948.3

580.6

:

:

:

:

External trade balance 
(extra euro area)(1)
External trade balance 
(extra EU27) (1)

BOP Current account 
(All countries of the world)

mn euro

mn euro

834.6

463.4

790.3

525.0

2011q3

2011q4

mn euro

-999.0

976.0

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

M/M-1 %
M/M-12 %
M/M-1 %
M/M-12 %

2012m1
-0.5
2.9
-0.3
2.0

2012m2
0.5
2.6
1.0
2.6

466.1

2012q1

2823.0

2012m3
1.2
2.6
0.0
1.5

724.9

914.5

1013.6

541.6

608.2

2012q2

2012q3

596.0

:

2012m4
0.3
2.3
0.1
1.0

2012m5
-0.2
2.2
-0.4
0.6

2012m6
0.0
2.2
-0.4
0.2

2012m7
-0.5
2.1
-0.2
0.2

2012m8
0.4
2.3
0.7
1.1

2012m9
1.1
2.8
0.4
0.9

2012m10
0.3
2.9
0.0
0.9

2012m11
0.1
2.9
-0.2
0.3

2012m12
:
:
:
:

Unemployment rate -  total (1)
Unemployment rate -  
age <25 year (1)
Unemployment rate -  
age >25 year (1)

%

%

%

Labour Cost Index

Employment

Industrial production

Industrial new orders 

Production in construction

Retail trade deflated turnover

Q/Q-1 % (1)

Q/Q-1 % (1)

M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %

General government deficit (-)/ 
surplus (+)

%

General government gross debt %

2012m1
4.1

2012m2
4.1

2012m3
4.2

2012m4
4.1

2012m5
4.3

2012m6
4.5

2012m7
4.6

2012m8
4.5

2012m9
4.4

2012m10
4.4

2012m11
4.5

2012m12
:

8.7

3.4

2011q3
2.1
2011q3
0.4

2012m1
2.2
0.8
4.2
1.8
0.4
6.8
0.6
-0.4

2005

-1.7

64.2

8.6

3.4

2011q4
0.3
2011q4
0.3

2012m2
-1.2
0.2
1.6
0.3
-6.4
-6.2
0.0
-0.2

2006

-1.5

62.3

8.9

3.4

2012q1
1.2
2012q1
0.3

2012m3
1.4
1.7
-5.7
-5.5
5.0
-1.6
2.3
3.6

2007

-0.9

60.2

8.8

3.4

2012q2
2.3
2012q2
0.1

2012m4
0.6
1.2
:
:
1.6
1.4
-3.8
-2.9

2008

-0.9

63.8

8.5

3.7

2012q3
0.0
2012q3
0.2

2012m5
0.8
2.9
:
:
1.6
1.7
2.6
2.8

2009

-4.1

69.2

8.7

3.9

9.1

3.8

  Q/Q-4 % (2)

Q/Q-4 %

2012m7
-0.7
1.6
:
:
4.6
6.7
-1.5
-1.8

2011

-2.5

72.4

2012m6
0.0
2.0
:
:
-1.7
0.1
-0.4
0.2

2010

-4.5

72.0

9.3

3.7

2011q3
4.5
2011q3
1.8

2012m8
2.4
3.4
:
:
-1.4
4.3
1.3
0.5

8.9

3.7

2011q4
3.5
2011q4
1.6

2012m9
-2.4
1.8
:
:
-1.1
4.5
-1.6
-2.1

8.7

3.8

2012q1
4.7
2012q1
1.6

2012m10
-0.8
0.3
:
:
-0.7
2.6
0.1
-1.6

9.0

3.9

2012q2
6.0
2012q2
1.2

2012m11
:
:
:
:
:
:
1.3
-0.3

:

:

2012q3
3.8
2012q3
0.9

2012m12
:
:
:
:
:
:
:
:

Economic sentiment indicator (1)  

index

95.1

96.2

98.6

97.9

100.1

96.7

94.7

91.2

90.0

87.4

90.8

92.3

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

3-month interest rate
Long term government  
bond yields 

%

%

2012m1
:

2012m2
:

2012m3
:

2012m4
:

2012m5
:

2012m6
:

2012m7
:

2012m8
:

2012m9
:

2012m10
:

2012m11
:

2012m12
:

3.27

3.00

2.87

2.83

2.49

2.29

2.07

1.97

2.04

2.02

1.85

:

(1)  swda: Seasonally adjusted and adjusted data by working days
(2)  wda: Adjusted data by working days 
« : » not available data; « - » not existing data
The set of indicators is selected from the PEEIs list (COM/2002/661) and complemented by certain Monetary and Financial Indicators as well as the Economic Sentiment Indicator.
Indicator 
3 months Interest rate 
Long term government bond yields 
Euro-dollar exchange rate 
Economic Sentiment Indicator 

Source
ECB
ECB
ECB
Directorate General for Economic and Financial Affairs (DG ECFIN)

  Eurostatistics — 01/2013 edition

59

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2

Austria

Graph 1: Output

Growth rate

Index

3.0

2.0

1.0

0.0

-1.0
1 0

-2.0

-3.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

Graph 2: Demand

Growth Rate (PFC, 
I)

2.0

1.0

0.0

-1.0

-2.0

-3.0

Growth Rate (RT)

4.0

2.0

0.0

-2.0

-4.0

-6.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

110

100

90

80

70
70

60

50

GDP (q/q-1)

Industrial Production (m/m-1)

Economic Sentiment Indicator

Private Final Consumption (PFC) (q/q-1)

Investment (I) (q/q-1)

Retail trade (RT) (m/m-1)

Graph 3: Labour

Graph  4: Prices

%

5.5

5.0

4.5

4.0

3.5

Growth Rate 

Growth Rate

3.0

2.0

1.0

0.0

-1.0

1.4

1.2

1.0

0.8

0.6

0.4

0.
0.2

0.0

-0.2

-0.4

-0.6

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

Employment (q/q-1)

Labour cost index  (q/q-1)

Unemployment rate Total (%)

HICP (m/m-1)

Industrial producer prices (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

millions  euro
3000

2500

2000

1500

1000

500

0

%

4.0

3.5

3.0

2.5

2.0

1.5

€/$

1.700

1.600

1.500

1.400

1.300

1.200

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

External trade balance  

BOP current account 

Long-term government bond yields - rates

Euro-dollar exchange rate

60

Eurostatistics — 01/2013 edition 

Principal European Economic Indicators (PEEIs)

2

Detailed PEEIs analysis for Poland

Indicators

Unit

Reference Period

GDP (volume)
Private final consumption 
(volume)
Investment (GFCF) (volume)

Q/Q-1 % (1)

Q/Q-1 % (1)

Q/Q-1 % (1)

2011q3
0.8

2011q4
0.8

2012q1
0.5

2012q2
0.2

2012q3
0.4

0.5

1.9

-0.1

0.7

0.4

-1.3

0.1

-0.1

-0.2

-0.8

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2011q3
4.1

2011q4
4.6

2012q1
3.7

2012q2
2.0

2012q3
1.6

2.5

9.0

1.4

10.9

1.7

5.4

1.1

2.2

-0.2

-1.3

External trade balance 
(extra EU27) (1)

BOP Current account 
(All countries of the world)

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

mn euro

-1628.4

-1624.3

-1230.6

-1322.0

-1456.8

-1143.7

-922.4

-1064.6

-1290.1

-1053.2

:

:

2011q3

2011q4

2012q1

2012q2

2012q3

mn euro

-5100.0

-5180.0

-4521.0

-2160.0

:

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

M/M-1 %
M/M-12 %
M/M-1 %
M/M-12 %

2012m1
0.7
4.1
0.6
6.9

2012m2
0.4
4.4
0.0
5.6

2012m3
0.5
3.9
0.2
4.3

2012m4
0.6
4.0
0.9
4.2

2012m5
0.2
3.6
0.1
4.6

2012m6
0.2
4.2
-0.6
3.9

2012m7
-0.5
4.0
-0.1
3.3

2012m8
-0.2
3.8
0.4
3.3

2012m9
0.1
3.8
0.4
3.0

2012m10
0.2
3.4
-0.6
2.1

2012m11
0.1
2.7
-0.3
1.2

2012m12
:
:
:
:

Unemployment rate -  total (1)
Unemployment rate -  
age <25 year (1)
Unemployment rate -  
age >25 year (1)

%

%

%

Labour Cost Index

Employment

Industrial production

Industrial new orders 

Production in construction

Retail trade deflated turnover

Q/Q-1 % (1)

Q/Q-1 % (1)

M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %

General government deficit (-)/ 
surplus (+)

%

General government gross debt %

2012m1
9.9

2012m2
9.9

2012m3
9.9

2012m4
9.9

2012m5
10.0

2012m6
10.1

2012m7
10.2

2012m8
10.3

2012m9
10.3

2012m10
10.5

2012m11
10.6

2012m12
:

26.3

8.2

2011q3
0.5
2011q3
0.5

2012m1
0.1
9.2
2.9
16.8
-0.9
34.1
0.0
2.9

2005

-4.1

47.1

26.2

8.3

2011q4
0.5
2011q4
0.1

2012m2
-1.7
5.5
4.5
28.7
-3.7
12.5
-2.3
-2.3

2006

-3.6

47.7

25.9

8.3

2012q1
0.0
2012q1
-0.4

2012m3
-1.9
2.2
-6.5
-0.8
0.3
2.5
2.3
1.9

2007

-1.9

45.0

25.7

8.3

2012q2
2.5
2012q2
-0.2

2012m4
2.1
4.4
0.1
3.8
1.8
9.7
-1.2
0.4

2008

-3.7

47.1

25.7

8.4

2012q3
1.1
2012q3
-2.4

2012m5
-0.5
2.4
:
:
-2.2
6.5
0.0
-0.1

2009

-7.4

50.9

25.9

8.5

26.3

8.6

  Q/Q-4 % (2)

Q/Q-4 %

2012m7
2.4
4.6
:
:
-1.1
-8.4
0.7
2.2

2011

-5.0

56.4

2012m6
-1.9
1.0
:
:
-4.3
-4.9
-1.1
-0.6

2010

-7.9

54.8

26.8

8.7

2011q3
5.4
2011q3
0.4

2012m8
-0.7
1.7
:
:
-1.8
-6.3
-1.2
-1.1

27.1

8.7

2011q4
4.0
2011q4
0.6

2012m9
-1.4
-2.2
:
:
-0.6
-16.7
-0.1
-2.6

27.8

8.8

2012q1
2.5
2012q1
0.5

2012m10
1.9
1.1
:
:
0.4
-4.1
-0.6
-4.4

28.4

8.8

2012q2
3.8
2012q2
0.1

2012m11
:
:
:
:
-1.5
-7.3
0.4
-2.7

:

:

2012q3
4.4
2012q3
-3.5

2012m12
:
:
:
:
:
:
:
:

Economic sentiment indicator (1)  

index

91.2

92.9

95.1

92.8

92.0

90.7

90.6

88.8

86.6

83.8

85.9

85.7

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

3-month interest rate
Long term government  
bond yields 
New Polish Zloty exchange rates 
against the euro

%

%

Average

2012m1
4.99

2012m2
4.97

2012m3
4.95

2012m4
4.94

2012m5
5.05

2012m6
5.12

2012m7
5.13

2012m8
5.11

2012m9
4.95

2012m10
4.82

2012m11
4.62

2012m12
:

5.68

4.38

5.46

4.18

5.37

4.14

5.49

4.18

5.41

4.29

5.24

4.30

4.99

4.18

4.88

4.09

4.85

4.13

4.57

4.11

4.18

4.13

:

4.10

(1)  swda: Seasonally adjusted and adjusted data by working days
(2)  wda: Adjusted data by working days 
« : » not available data; « - » not existing data
The set of indicators is selected from the PEEIs list (COM/2002/661) and complemented by certain Monetary and Financial Indicators as well as the Economic Sentiment Indicator.
Indicator 
3 months Interest rate 
Long term government bond yields 
Euro-dollar exchange rate 
Economic Sentiment Indicator 

Source
ECB
ECB
ECB
Directorate General for Economic and Financial Affairs (DG ECFIN)

  Eurostatistics — 01/2013 edition

61

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2

Poland

Graph 1: Output

Growth rate

Index

6.0

4.0

2.0

0.0

-2.0

-4.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

Graph 2: Demand

Growth Rate (PFC, 
I)

4.0

2.0

0.0

-2.0

-4.0

Growth Rate (RT)

4.0

2.0

0.0

-2.0

-4.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

120

110

100

90

80

70

GDP (q/q-1)

Industrial Production (m/m-1)

Economic Sentiment Indicator

Private Final Consumption (PFC) (q/q-1)

Investment (I) (q/q-1)

Retail trade (RT) (m/m-1)

Graph 3: Labour

Graph  4: Prices

%

11.1

10.8

10.5

10.2

9.9

9.6

9.3

Growth Rate 

Growth Rate

3.0

2.0

1.0

0.0

-1.0

-2.0

-3.0

1.0

0.8

0.6

0.4

0.2

0.0

-0.2

-0.4

-0.6

-0.8

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

Employment (q/q-1)

Labour cost index  (q/q-1)

Unemployment rate Total (%)

HICP (m/m-1)

Industrial producer prices (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

millions  euro
0

-500

-1000

-1500

-2000

-2500

-3000

-3500

-4000

-4500

-5000

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

%

6.5

6.0

5.5

5.0

4.5

4.0

3.5

Polish Zloty/€

4.70

4.45

4.20

3.95

3.70

3.45

3.20

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

External trade balance  

BOP current account 

3-month interest rates

Long-term government bond yields - rates

Polish Zloty exchange rates against the euro 

62

Eurostatistics — 01/2013 edition 

Principal European Economic Indicators (PEEIs)

2

Detailed PEEIs analysis for Portugal

Indicators

Unit

Reference Period

GDP (volume)
Private final consumption 
(volume)
Investment (GFCF) (volume)

Q/Q-1 % (1)

Q/Q-1 % (1)

Q/Q-1 % (1)

2011q3
-0.5

2011q4
-1.6

2012q1
-0.1

0.0

-3.1

-3.1

-6.5

-1.8

2.1

2012q2
-1.0

-1.0

-10.8

2012q3
-0.9

-0.3

0.7

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2011q3
-2.0

-3.4

-12.1

2011q4
-2.9

-6.3

-16.0

2012q1
-0.8

-5.4

-12.6

2012q2
-4.2

-5.8

-17.7

2012q3
-2.7

-6.1

-14.4

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

External trade balance 
(extra euro area)(1)
External trade balance 
(extra EU27) (1)

BOP Current account 
(All countries of the world)

mn euro

mn euro

-368.9

-266.3

-169.7

-388.8

2011q3

-291.0

2011q4

-259.7

2012q1

-67.0

-82.3

2012q2

mn euro

-1383.0

-1872.0

-1733.0

-1159.0

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

M/M-1 %
M/M-12 %
M/M-1 %
M/M-12 %

2012m1
0.3
3.4
2.3
4.6

2012m2
0.1
3.6
0.3
4.2

2012m3
1.2
3.1
0.4
3.7

2012m4
0.3
2.9
0.6
3.6

-228.2

-239.5

2012q3

:

2012m5
-0.3
2.7
-0.5
3.2

9.7

-149.7

-238.8

-304.3

-75.9

-39.3

-210.7

-285.1

-336.5

-103.4

:

:

:

:

2012m6
-0.2
2.7
-0.6
2.7

2012m7
0.2
2.8
0.5
3.0

2012m8
-0.1
3.2
1.2
4.3

2012m9
0.4
2.9
0.5
4.5

2012m10
0.1
2.1
-0.2
4.6

2012m11
-0.4
1.9
-0.6
3.8

2012m12
:
:
:
:

Unemployment rate -  total (1)
Unemployment rate -  
age <25 year (1)
Unemployment rate -  
age >25 year (1)

%

%

%

Labour Cost Index

Employment

Industrial production

Industrial new orders 

Production in construction

Retail trade deflated turnover

Q/Q-1 % (1)

Q/Q-1 % (1)

M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %

General government deficit (-)/ 
surplus (+)

%

General government gross debt %

2012m1
14.7

2012m2
14.8

2012m3
15.1

2012m4
15.4

2012m5
15.5

2012m6
15.8

2012m7
16.0

2012m8
16.2

2012m9
16.2

2012m10
16.3

2012m11
16.3

2012m12
:

35.1

12.9

2011q3
1.8
2011q3
-0.5

2012m1
0.7
-4.9
-1.5
-5.1
4.0
-10.7
-1.9
-7.1

2005

-6.5

67.7

35.3

13.1

2011q4
-0.2
2011q4
-2.4

2012m2
0.2
-7.1
0.2
-5.3
-1.4
-15.3
2.2
-8.6

2006

-4.6

69.4

36.0

13.3

2012q1
0.9
2012q1
-1.2

2012m3
3.2
-4.6
-1.2
-3.8
-6.9
-15.5
-2.1
-4.6

2007

-3.1

68.4

36.8

13.5

2012q2
2.3
2012q2
-0.2

2012m4
-6.6
-7.7
1.1
2.6
-7.0
-14.7
-2.9
-10.1

2008

-3.6

71.7

37.4

13.6

2012q3
-1.2
2012q3
-0.4

2012m5
4.1
-6.9
:
:
0.0
-19.1
3.4
-4.5

2009

-10.2

83.2

38.5

13.8

39.0

14.0

  Q/Q-4 % (2)

Q/Q-4 %

2012m6
-0.8
-4.6
:
:
-0.7
-19.3
0.0
-5.4

2010

-9.8

93.5

2012m7
1.3
-0.1
:
:
0.2
-18.1
0.2
-7.5

2011

-4.4

108.1

39.2

14.2

2011q3
0.8
2011q3
-0.7

2012m8
6.3
-3.1
:
:
9.8
-17.4
3.3
-5.8

38.9

14.2

2011q4
-1.7
2011q4
-3.1

2012m9
-12.1
-9.1
:
:
-13.9
-18.7
-4.5
-6.3

39.0

14.2

2012q1
1.5
2012q1
-4.2

2012m10
4.8
-3.9
:
:
-1.2
-19.1
-4.0
-6.4

38.7

14.2

2012q2
5.0
2012q2
-4.2

2012m11
:
:
:
:
:
:
-1.3
-5.2

:

:

2012q3
2.0
2012q3
-4.1

2012m12
:
:
:
:
:
:
:
:

Economic sentiment indicator (1)  

index

75.7

75.9

77.1

78.5

77.0

77.9

76.4

79.1

74.1

72.3

72.9

77.5

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

3-month interest rate
Long term government  
bond yields 

%

%

2012m1
:

2012m2
:

2012m3
:

2012m4
:

2012m5
:

2012m6
:

2012m7
:

2012m8
:

2012m9
:

2012m10
:

2012m11
:

2012m12
:

13.85

12.81

13.01

12.01

11.59

10.56

10.49

9.89

8.62

8.17

8.32

:

(1)  swda: Seasonally adjusted and adjusted data by working days
(2)  wda: Adjusted data by working days 
« : » not available data; « - » not existing data
The set of indicators is selected from the PEEIs list (COM/2002/661) and complemented by certain Monetary and Financial Indicators as well as the Economic Sentiment Indicator.
Indicator 
3 months Interest rate 
Long term government bond yields 
Euro-dollar exchange rate 
Economic Sentiment Indicator 

Source
ECB
ECB
ECB
Directorate General for Economic and Financial Affairs (DG ECFIN)

  Eurostatistics — 01/2013 edition

63

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2

Portugal

Graph 1: Output

Growth rate

Index

10.0

5.0

0.0

-5.0

-10.0

-15.0

Graph 2: Demand

Growth Rate (PFC, 
I)

8.0

4.0

0.0

-4.0

-8.0

-12.0

110

100

90

80

70

60

Growth Rate (RT)

4.0

2.0

0.0

-2.0

-4.0

-6.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

GDP (q/q-1)

Industrial Production (m/m-1)

Economic Sentiment Indicator

Private Final Consumption (PFC) (q/q-1)

Investment (I) (q/q-1)

Retail trade (RT) (m/m-1)

Graph 3: Labour

Graph  4: Prices

%

17.0

16.0

15.0

14.0

13.0

Growth Rate 

Growth Rate

4.0

2.0

0.0

-2.0

-4.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

Employment (q/q-1)

Labour cost index  (q/q-1)

Unemployment rate Total (%)

2.5

2.0

1.5

1.0

0.5

0.0

-0.5

-1.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

HICP (m/m-1)

Industrial producer prices (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

millions  euro
0

-200

-400

-600

-800

-1000

-1200

-1400

-1600

-1800

-2000

%

16.0

14.0

12.0

10.0
10 0

8.0

6.0

€/$

1.600

1.500

1.400

1.300
1 300

1.200

1.100

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

External trade balance  

BOP current account 

Long-term government bond yields - rates

Euro-dollar exchange rate

64

Eurostatistics — 01/2013 edition 

Principal European Economic Indicators (PEEIs)

2

Detailed PEEIs analysis for Romania

Indicators

Unit

Reference Period

GDP (volume)
Private final consumption 
(volume)
Investment (GFCF) (volume)

Q/Q-1 % (1)

Q/Q-1 % (1)

Q/Q-1 % (1)

2011q3
1.3

2011q4
-0.1

2012q1
-0.2

2012q2
0.2

2012q3
-0.4

1.0

6.2

0.3

2.4

0.1

2.4

0.8

4.0

0.8

2.7

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2011q3
4.4

2011q4
1.9

2012q1
0.3

2012q2
1.1

2012q3
-0.5

3.6

11.4

2.7

10.3

0.5

12.2

2.2

15.5

-1.3

11.7

External trade balance 
(extra EU27) (1)

BOP Current account 
(All countries of the world)

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

mn euro

-145.7

-89.5

-84.9

-94.1

-132.9

-177.9

-58.0

-135.7

-22.5

-92.6

:

:

2011q3

2011q4

2012q1

2012q2

2012q3

mn euro

-1445.0

-1187.0

-508.0

-2008.0

:

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

M/M-1 %
M/M-12 %
M/M-1 %
M/M-12 %

2012m1
0.4
2.8
0.4
5.4

2012m2
0.7
2.7
0.7
5.5

2012m3
0.5
2.5
0.7
5.2

2012m4
0.1
1.9
0.5
5.3

2012m5
0.3
2.0
-0.2
5.1

2012m6
-0.1
2.2
-0.1
4.3

2012m7
0.5
3.1
1.0
4.5

2012m8
0.5
4.0
1.4
6.3

2012m9
1.1
5.4
0.5
6.1

2012m10
0.2
5.0
0.6
6.5

2012m11
-0.1
4.4
-0.5
5.3

2012m12
:
:
:
:

Unemployment rate -  total (1)
Unemployment rate -  
age <25 year (1)
Unemployment rate -  
age >25 year (1)

%

%

%

Labour Cost Index

Employment

Industrial production

Industrial new orders 

Production in construction

Retail trade deflated turnover

Q/Q-1 % (1)

Q/Q-1 % (1)

M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %

General government deficit (-)/ 
surplus (+)

%

General government gross debt %

2012m1
7.3

2012m2
7.1

2012m3
7.2

2012m4
7.1

2012m5
7.1

2012m6
7.3

2012m7
7.1

2012m8
7.0

2012m9
7.0

2012m10
6.9

2012m11
6.7

2012m12
:

23.7

5.8

2011q3
2.2
2011q3
:

2012m1
0.0
2.3
-2.2
-4.2
-5.9
2.8
2.6
8.6

2005

-1.2

15.8

23.7

5.6

2011q4
1.8
2011q4
:

2012m2
-1.4
-2.0
-0.4
-1.2
-1.0
4.1
-3.5
1.6

2006

-2.2

12.4

23.7

5.7

2012q1
0.1
2012q1
:

2012m3
1.3
0.4
3.7
7.4
0.9
1.5
1.2
2.4

2007

-2.9

12.8

23.0

5.6

2012q2
2.9
2012q2
:

2012m4
0.8
2.7
-3.1
-5.5
8.8
16.5
0.8
3.3

2008

-5.7

13.4

23.0

5.7

2012q3
1.6
2012q3
:

2012m5
-0.7
0.1
:
:
2.3
19.2
1.1
5.7

2009

-9.0

23.6

23.0

5.9

23.0

5.6

  Q/Q-4 % (2)

Q/Q-4 %

2012m7
0.6
2.2
:
:
1.8
-4.9
0.0
3.6

2011

-5.5

33.4

2012m6
-0.1
0.4
:
:
-12.2
-2.5
-1.0
3.7

2010

-6.8

30.5

23.0

5.5

2011q3
7.4
2011q3
0.8

2012m8
-0.8
-1.2
:
:
2.1
5.0
0.9
5.0

23.0

5.5

2011q4
8.0
2011q4
1.5

2012m9
0.5
0.1
:
:
-4.2
-3.8
-0.7
5.2

:

5.4

2012q1
5.3
2012q1
2.5

2012m10
0.0
0.3
:
:
-0.7
-6.8
-1.7
0.1

:

5.3

2012q2
7.3
2012q2
1.2

2012m11
:
:
:
:
:
:
1.9
3.1

:

:

2012q3
6.5
2012q3
0.3

2012m12
:
:
:
:
:
:
:
:

Economic sentiment indicator (1)  

index

94.3

95.6

94.5

95.7

97.9

97.2

96.1

94.0

92.8

92.6

94.2

95.4

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

3-month interest rate
Long term government  
bond yields 
New Romanian leu exchange 
rates against the euro

%

%

Average

2012m1
5.26

2012m2
4.79

2012m3
4.25

2012m4
4.12

2012m5
4.69

2012m6
5.10

2012m7
5.11

2012m8
5.51

2012m9
5.47

2012m10
5.46

2012m11
5.64

2012m12
:

7.02

4.34

6.99

4.35

6.48

4.37

6.24

4.38

6.50

4.44

6.68

4.46

6.52

4.55

6.84

4.52

6.54

4.50

6.85

4.56

6.84

4.53

:

4.49

(1)  swda: Seasonally adjusted and adjusted data by working days
(2)  wda: Adjusted data by working days 
« : » not available data; « - » not existing data
The set of indicators is selected from the PEEIs list (COM/2002/661) and complemented by certain Monetary and Financial Indicators as well as the Economic Sentiment Indicator.
Indicator 
3 months Interest rate 
Long term government bond yields 
Euro-dollar exchange rate 
Economic Sentiment Indicator 

Source
ECB
ECB
ECB
Directorate General for Economic and Financial Affairs (DG ECFIN)

  Eurostatistics — 01/2013 edition

65

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
2

Romania

Graph 1: Output

Growth rate

3.0

2.0

1.0

0.0

-1.0
1 0

-2.0

-3.0

Principal European Economic Indicators (PEEIs)

Graph 2: Demand

Index

100

Growth Rate (PFC, 
I)

16.0

95

90

85

80
80

75

70

12.0

8.0

4.0

0.0

-4.0

Growth Rate (RT)

4.0

2.0

0.0

-2.0

-4.0

-6.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

GDP (q/q-1)

Industrial Production (m/m-1)

Economic Sentiment Indicator

Private Final Consumption (PFC) (q/q-1)

Investment (I) (q/q-1)

Retail trade (RT) (m/m-1)

Graph 3: Labour

%

7.4

7.2

7.0

6.8

6.6

Graph  4: Prices

Growth Rate
1.5

1.0

0.5

0.0

-0.5

-1.0

Growth Rate

6.0

4.0

2.0

0.0

-2.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

Labour cost index  (q/q-1)

Unemployment rate Total (%)

HICP (m/m-1)

Industrial producer prices (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

millions  euro
1000

0

-1000

000
-2000

-3000

-4000

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

External trade balance  

BOP current account 

%

8.0

7.0

6.0

5.0

4.0

Romenian leu/€

4.60

4.50

4.40

4.30

4.20

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

3-month interest rates

Long-term government bond yields - rates

Romanian leu exchange rates against the euro 

66

Eurostatistics — 01/2013 edition 

Principal European Economic Indicators (PEEIs)

2

Detailed PEEIs analysis for Slovenia

Indicators

Unit

Reference Period

GDP (volume)
Private final consumption 
(volume)
Investment (GFCF) (volume)

Q/Q-1 % (1)

Q/Q-1 % (1)

Q/Q-1 % (1)

2011q3
0.0

2011q4
-1.2

2012q1
0.0

2012q2
-1.1

2012q3
-0.6

1.2

-1.2

-1.1

-0.9

0.4

-3.9

-2.7

-1.4

0.4

-2.7

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2011q3
0.8

2011q4
-2.4

2.1

-8.7

-0.5

-3.5

2012q1
0.1

0.8

-10.5

2012q2
-3.2

2012q3
-3.3

-2.5

-7.8

-3.0

-8.8

External trade balance 
(extra euro area)(1)
External trade balance 
(extra EU27) (1)

BOP Current account 
(All countries of the world)

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

mn euro

mn euro

13.3

-65.4

52.7

-37.9

47.2

-35.2

76.4

-15.6

80.0

-11.3

27.0

-42.3

102.0

-4.6

82.8

-28.0

109.2

104.9

-4.6

-2.4

:

:

:

:

2011q3

2011q4

2012q1

2012q2

2012q3

mn euro

-91.0

-36.0

-28.0

282.0

:

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

M/M-1 %
M/M-12 %
M/M-1 %
M/M-12 %

2012m1
-0.3
2.3
0.0
1.9

2012m2
0.6
2.8
-0.1
0.7

2012m3
1.0
2.4
0.4
0.6

2012m4
1.2
2.9
0.4
0.7

2012m5
0.3
2.4
0.4
1.3

2012m6
-0.6
2.4
0.0
0.8

2012m7
-0.8
2.6
-0.2
0.9

2012m8
0.8
3.1
0.1
0.8

2012m9
1.2
3.7
0.0
0.9

2012m10
0.3
3.2
0.2
1.2

2012m11
-0.2
2.8
0.0
1.3

2012m12
:
:
:
:

Unemployment rate -  total (1)
Unemployment rate -  
age <25 year (1)
Unemployment rate -  
age >25 year (1)

%

%

%

Labour Cost Index

Employment

Industrial production

Industrial new orders 

Production in construction

Retail trade deflated turnover

Q/Q-1 % (1)

Q/Q-1 % (1)

M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %

General government deficit (-)/ 
surplus (+)

%

General government gross debt %

2012m1
8.3

2012m2
8.2

2012m3
8.1

2012m4
8.4

2012m5
8.7

2012m6
8.9

2012m7
9.2

2012m8
9.4

2012m9
9.5

2012m10
9.7

2012m11
9.6

2012m12
:

16.5

7.6

2011q3
0.2
2011q3
-0.3

2012m1
-0.4
1.3
3.3
1.9
9.2
-24.5
4.3
4.0

2005

-1.5

26.7

16.5

7.5

2011q4
-0.9
2011q4
-0.2

2012m2
-0.2
-0.3
-0.6
-0.4
-7.4
-26.6
-4.6
-1.6

2006

-1.4

26.4

16.5

7.3

2012q1
0.9
2012q1
-0.1

2012m3
3.0
0.1
0.3
1.2
4.1
-5.0
0.5
1.1

2007

0.0

23.1

20.7

7.5

2012q2
3.7
2012q2
-0.4

2012m4
-0.2
3.4
-3.8
-5.9
-8.4
-14.6
-3.0
-3.5

2008

-1.9

22.0

20.7

7.7

2012q3
-3.2
2012q3
-0.6

2012m5
-2.6
-3.0
:
:
-15.7
-23.1
-0.7
-3.1

2009

-6.0

35.0

20.7

7.8

23.5

8.1

  Q/Q-4 % (2)

Q/Q-4 %

2012m7
-2.4
1.8
:
:
-2.6
-19.4
-1.1
-1.6

2011

-6.4

46.9

2012m6
2.6
2.9
:
:
3.1
-11.0
3.1
0.6

2010

-5.7

38.6

23.5

8.3

2011q3
2.0
2011q3
-1.6

2012m8
3.9
4.3
:
:
0.3
-14.4
2.2
-0.7

23.5

8.3

2011q4
-0.3
2011q4
-1.2

2012m9
-2.7
-0.7
:
:
14.8
-3.9
-4.0
-4.4

:

8.3

2012q1
-1.2
2012q1
-0.7

2012m10
-0.1
2.1
:
:
-21.1
-15.5
-1.3
-6.1

:

8.3

2012q2
4.2
2012q2
-0.9

2012m11
:
:
:
:
:
:
-0.1
-6.1

:

:

2012q3
0.3
2012q3
-1.4

2012m12
:
:
:
:
:
:
:
:

Economic sentiment indicator (1)  

index

92.9

91.2

92.2

85.8

85.2

81.6

81.7

79.5

73.3

76.1

78.4

83.4

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

3-month interest rate
Long term government  
bond yields 

%

%

2012m1
:

2012m2
:

2012m3
:

2012m4
:

2012m5
:

2012m6
:

2012m7
:

2012m8
:

2012m9
:

2012m10
:

2012m11
:

2012m12
:

6.74

5.73

5.08

5.27

5.28

5.63

6.34

6.81

6.32

5.74

5.43

:

(1)  swda: Seasonally adjusted and adjusted data by working days
(2)  wda: Adjusted data by working days 
« : » not available data; « - » not existing data
The set of indicators is selected from the PEEIs list (COM/2002/661) and complemented by certain Monetary and Financial Indicators as well as the Economic Sentiment Indicator.
Indicator 
3 months Interest rate 
Long term government bond yields 
Euro-dollar exchange rate 
Economic Sentiment Indicator 

Source
ECB
ECB
ECB
Directorate General for Economic and Financial Affairs (DG ECFIN)

  Eurostatistics — 01/2013 edition

67

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2

Slovenia

Graph 1: Output

Growth rate

Index

8.0

6.0

4.0

2.0

0.0

-2.0

-4.0

-6.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

Graph 2: Demand

Growth Rate (PFC, 
I)

4.0

2.0

0.0

-2.0

-4.0

-6.0

Growth Rate (RT)

8.0

4.0

0.0

-4.0

-8.0

-12.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

105

100

95

90

85

80

75

70

GDP (q/q-1)

Industrial Production (m/m-1)

Economic Sentiment Indicator

Private Final Consumption (PFC) (q/q-1)

Investment (I) (q/q-1)

Retail trade (RT) (m/m-1)

Graph 3: Labour

Graph  4: Prices

%

10.0

9.5

9.0

8.5

8.0

7.5

Growth Rate 

Growth Rate

6.0

4.0

2.0

0.0

-2.0

-4.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

Employment (q/q-1)

Labour cost index  (q/q-1)

Unemployment rate Total (%)

1.5

1.0

0.5

0.0

-0.5

-1.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

HICP (m/m-1)

Industrial producer prices (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

millions  euro

300

250

200

150

100

50
50

0

-50

-100

%

7.0

6.0

5.0

4.0

3.0

€/$

1.600

1.500

1.400

1.300

1.200

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

External trade balance  

BOP current account 

Long-term government bond yields - rates

Euro-dollar exchange rate

68

Eurostatistics — 01/2013 edition 

Principal European Economic Indicators (PEEIs)

2

Detailed PEEIs analysis for Slovakia

Indicators

Unit

Reference Period

GDP (volume)
Private final consumption 
(volume)
Investment (GFCF) (volume)

Q/Q-1 % (1)

Q/Q-1 % (1)

Q/Q-1 % (1)

2011q3
0.7

2011q4
0.8

2012q1
0.5

2012q2
0.6

2012q3
0.6

-0.2

2.5

0.1

1.5

0.0

-4.3

-0.2

-1.3

-0.3

-0.3

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2011q3
2.6

2011q4
3.8

2012q1
2.9

2012q2
2.6

2012q3
2.1

-1.0

17.2

-0.5

18.3

-0.1

-3.3

-0.3

-2.5

-0.6

-3.7

External trade balance 
(extra euro area)(1)
External trade balance 
(extra EU27) (1)

BOP Current account 
(All countries of the world)

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

mn euro

-334.5

-242.5

-168.8

-221.0

-62.1

-99.6

-62.8

-337.7

-210.0

-318.5

mn euro

-550.0

-492.5

-445.4

-432.9

-345.1

-347.7

-329.6

-577.1

-564.1

-541.4

:

:

:

:

2011q3

2011q4

2012q1

2012q2

2012q3

mn euro

37.0

172.0

648.0

207.0

:

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

M/M-1 %
M/M-12 %
M/M-1 %
M/M-12 %

2012m1
1.5
4.1
1.1
2.5

2012m2
0.2
4.0
1.2
4.0

2012m3
0.3
3.9
0.6
4.3

2012m4
0.2
3.7
0.0
3.9

2012m5
0.1
3.4
0.5
4.1

2012m6
0.2
3.7
-0.2
3.9

2012m7
0.0
3.8
-0.2
3.7

2012m8
0.0
3.8
0.5
4.2

2012m9
0.3
3.8
0.3
4.2

2012m10
0.4
3.9
0.3
4.0

2012m11
0.1
3.5
-0.1
3.8

2012m12
:
:
:
:

Unemployment rate -  total (1)
Unemployment rate -  
age <25 year (1)
Unemployment rate -  
age >25 year (1)

%

%

%

Labour Cost Index

Employment

Industrial production

Industrial new orders 

Production in construction

Retail trade deflated turnover

Q/Q-1 % (1)

Q/Q-1 % (1)

M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %

General government deficit (-)/ 
surplus (+)

%

General government gross debt %

2012m1
13.7

2012m2
13.6

2012m3
13.6

2012m4
13.8

2012m5
13.9

2012m6
14.0

2012m7
14.1

2012m8
14.1

2012m9
14.1

2012m10
14.2

2012m11
14.5

2012m12
:

33.2

11.9

2011q3
2.1
2011q3
0.3

2012m1
3.0
5.5
4.0
7.3
-14.4
-7.8
1.6
1.5

2005

-2.8

34.2

33.1

11.9

2011q4
-1.8
2011q4
-0.1

2012m2
1.6
9.8
1.8
7.8
-1.7
-9.0
0.0
2.0

2006

-3.2

30.5

32.6

12.0

2012q1
0.5
2012q1
0.1

2012m3
3.5
12.8
1.4
10.5
0.9
-11.3
-0.6
0.8

2007

-1.8

29.6

35.9

11.7

2012q2
1.5
2012q2
0.0

2012m4
1.2
13.1
0.1
10.9
-2.2
-15.1
-0.8
-1.9

2008

-2.1

27.9

34.8

12.0

2012q3
0.3
2012q3
0.0

2012m5
0.6
12.3
:
:
3.2
-8.9
0.5
0.6

2009

-8.0

35.6

33.8

12.2

34.4

12.2

  Q/Q-4 % (2)

Q/Q-4 %

2012m7
1.0
18.5
:
:
-0.8
-12.5
-0.5
-2.0

2011

-4.9

43.3

2012m6
0.3
13.0
:
:
-0.5
-11.1
-0.6
-0.9

2010

-7.7

41.0

34.8

12.2

2011q3
7.3
2011q3
1.7

2012m8
0.3
17.1
:
:
-0.4
-11.9
0.3
-0.9

34.7

12.2

2011q4
4.2
2011q4
0.9

2012m9
1.1
13.0
:
:
-0.1
-14.8
-0.4
-1.7

35.3

12.3

2012q1
2.8
2012q1
0.6

2012m10
-3.9
8.1
:
:
1.0
-12.8
-0.2
-1.8

35.8

12.5

2012q2
2.4
2012q2
0.2

2012m11
:
:
:
:
:
:
-0.3
-2.2

:

:

2012q3
0.5
2012q3
-0.1

2012m12
:
:
:
:
:
:
:
:

Economic sentiment indicator (1)  

index

95.6

93.0

97.9

98.9

97.4

96.2

92.2

91.8

92.4

86.0

84.1

87.0

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

3-month interest rate
Long term government  
bond yields 

%

%

2012m1
:

2012m2
:

2012m3
:

2012m4
:

2012m5
:

2012m6
:

2012m7
:

2012m8
:

2012m9
:

2012m10
:

2012m11
:

2012m12
:

5.22

4.98

4.91

4.81

4.80

4.80

4.41

4.24

4.20

4.20

4.14

:

(1)  swda: Seasonally adjusted and adjusted data by working days
(2)  wda: Adjusted data by working days 
« : » not available data; « - » not existing data
The set of indicators is selected from the PEEIs list (COM/2002/661) and complemented by certain Monetary and Financial Indicators as well as the Economic Sentiment Indicator.
Indicator 
3 months Interest rate 
Long term government bond yields 
Euro-dollar exchange rate 
Economic Sentiment Indicator 

Source
ECB
ECB
ECB
Directorate General for Economic and Financial Affairs (DG ECFIN)

  Eurostatistics — 01/2013 edition

69

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2

Slovakia

Graph 1: Output

Growth rate

Index

15.0

10.0

5.0

0.0

-5.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

Graph 2: Demand

Growth Rate (PFC, 
I)

6.0

4.0

2.0

0.0

-2.0

-4.0

Growth Rate (RT)

4.0

2.0

0.0

-2.0

-4.0

-6.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

110

100

90

80

70

GDP (q/q-1)

Industrial Production (m/m-1)

Economic Sentiment Indicator

Private Final Consumption (PFC) (q/q-1)

Investment (I) (q/q-1)

Retail trade (RT) (m/m-1)

Graph 3: Labour

Graph  4: Prices

%

17.0

16.0

15.0

14.0

13.0

Growth Rate 

Growth Rate

4.0

2.0

0.0

-2.0

-4.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

Employment (q/q-1)

Labour cost index  (q/q-1)

Unemployment rate Total (%)

1.6

1.4

1.2

1.0

0.8

0.6

0.4
0.4

0.2

0.0

-0.2

-0.4

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

HICP (m/m-1)

Industrial producer prices (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

millions  euro

800

600

400

200

0

-200
200

-400

-600

-800

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

External trade balance  

BOP current account 

%

5.5

5.0

4.5

4.0

3.5

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

Long-term government bond yields - rates

Euro-dollar exchange rate

€/$

1.600

1.500

1.400

1.300

1.200

70

Eurostatistics — 01/2013 edition 

Principal European Economic Indicators (PEEIs)

2

Detailed PEEIs analysis for Finland

Indicators

Unit

Reference Period

GDP (volume)
Private final consumption 
(volume)
Investment (GFCF) (volume)

Q/Q-1 % (1)

Q/Q-1 % (1)

Q/Q-1 % (1)

2011q3
0.8

2011q4
-0.4

2012q1
0.6

2012q2
-1.1

2012q3
-0.1

0.3

1.6

-0.2

-0.1

2.5

-1.0

-2.3

-2.0

0.8

-1.1

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2011q3
3.1

2011q4
1.0

2012q1
1.8

2012q2
-0.3

2012q3
-1.2

2.7

6.6

1.1

5.9

5.8

3.3

0.0

-1.8

0.6

-4.4

External trade balance 
(extra euro area)(1)
External trade balance 
(extra EU27) (1)

BOP Current account 
(All countries of the world)

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

mn euro

mn euro

306.9

312.2

77.7

261.1

376.9

412.2

107.8

187.9

190.0

308.7

227.3

361.4

336.0

461.4

321.7

348.1

232.4

390.7

215.9

456.2

:

:

:

:

2011q3

2011q4

2012q1

2012q2

2012q3

mn euro

608.0

-1325.0

-1529.0

-1488.0

:

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

M/M-1 %
M/M-12 %
M/M-1 %
M/M-12 %

2012m1
0.8
3.0
1.1
3.4

2012m2
0.8
3.0
1.7
3.9

2012m3
0.5
2.9
0.1
2.7

2012m4
0.2
3.0
-0.1
2.3

2012m5
-0.1
3.1
-0.2
2.1

2012m6
0.1
2.9
-0.9
1.4

2012m7
-0.3
3.1
-0.1
0.9

2012m8
0.4
3.3
1.7
2.6

2012m9
0.6
3.4
0.2
3.0

2012m10
0.2
3.5
-0.3
2.8

2012m11
-0.1
3.2
-0.5
2.3

2012m12
:
:
:
:

Unemployment rate -  total (1)
Unemployment rate -  
age <25 year (1)
Unemployment rate -  
age >25 year (1)

%

%

%

Labour Cost Index

Employment

Industrial production

Industrial new orders 

Production in construction

Retail trade deflated turnover

Q/Q-1 % (1)

Q/Q-1 % (1)

M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %

General government deficit (-)/ 
surplus (+)

%

General government gross debt %

2012m1
7.6

2012m2
7.6

2012m3
7.6

2012m4
7.6

2012m5
7.7

2012m6
7.7

2012m7
7.8

2012m8
7.8

2012m9
7.8

2012m10
7.8

2012m11
7.9

2012m12
:

19.5

5.9

2011q3
1.0
2011q3
-0.3

2012m1
-4.2
-4.0
-5.7
-7.9
-0.1
10.2
2.5
3.3

2005

2.9

41.7

19.3

6.0

2011q4
0.7
2011q4
0.5

2012m2
1.3
-2.4
7.6
6.0
-2.3
6.5
1.4
6.0

2006

4.2

39.6

19.1

6.0

2012q1
1.2
2012q1
-0.2

2012m3
-0.5
-2.9
-7.8
-11.4
-3.5
-2.1
-1.7
3.3

2007

5.3

35.2

18.8

6.1

2012q2
2.2
2012q2
0.2

2012m4
0.6
-2.1
-3.6
-20.2
-1.1
-2.2
-2.0
-1.1

2008

4.4

33.9

18.6

6.1

2012q3
-0.5
2012q3
0.1

2012m5
1.1
-1.4
:
:
1.2
-2.5
1.8
0.3

2009

-2.5

43.5

18.6

6.2

18.7

6.2

  Q/Q-4 % (2)

Q/Q-4 %

2012m7
1.5
2.4
:
:
0.1
-1.2
0.5
0.2

2011

-0.6

49.0

2012m6
-1.3
-0.5
:
:
0.1
-1.9
-1.1
0.0

2010

-2.5

48.6

18.9

6.2

2011q3
2.6
2011q3
1.0

2012m8
-1.3
-1.5
:
:
-0.1
-0.6
0.2
0.5

19.0

6.2

2011q4
3.0
2011q4
1.2

2012m9
-0.9
-2.6
:
:
-2.9
-4.0
0.5
0.7

19.0

6.2

2012q1
3.6
2012q1
0.9

2012m10
0.4
-0.6
:
:
:
:
-2.3
-2.3

19.0

6.3

2012q2
5.6
2012q2
0.1

2012m11
:
:
:
:
:
:
2.2
1.2

:

:

2012q3
3.3
2012q3
0.4

2012m12
:
:
:
:
:
:
:
:

Economic sentiment indicator (1)  

index

93.8

100.5

99.2

98.9

96.5

94.8

92.6

90.7

91.7

89.6

90.2

92.6

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

3-month interest rate
Long term government  
bond yields 

%

%

2012m1
:

2012m2
:

2012m3
:

2012m4
:

2012m5
:

2012m6
:

2012m7
:

2012m8
:

2012m9
:

2012m10
:

2012m11
:

2012m12
:

2.28

2.34

2.31

2.15

1.82

1.76

1.55

1.55

1.82

1.78

1.67

:

(1)  swda: Seasonally adjusted and adjusted data by working days
(2)  wda: Adjusted data by working days 
« : » not available data; « - » not existing data
The set of indicators is selected from the PEEIs list (COM/2002/661) and complemented by certain Monetary and Financial Indicators as well as the Economic Sentiment Indicator.
Indicator 
3 months Interest rate 
Long term government bond yields 
Euro-dollar exchange rate 
Economic Sentiment Indicator 

Source
ECB
ECB
ECB
Directorate General for Economic and Financial Affairs (DG ECFIN)

  Eurostatistics — 01/2013 edition

71

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2

Finland

Graph 1: Output

Growth rate

Index

4.0

2.0

0.0

-2.0

-4.0

-6.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

Graph 2: Demand

Growth Rate (PFC, 
I)

4.0

2.0

0.0

-2.0

-4.0

-6.0

Growth Rate (RT)

4.0

2.0

0.0

-2.0

-4.0

-6.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

130

120

110

100

90

80

GDP (q/q-1)

Industrial Production (m/m-1)

Economic Sentiment Indicator

Private Final Consumption (PFC) (q/q-1)

Investment (I) (q/q-1)

Retail trade (RT) (m/m-1)

Graph 3: Labour

Graph  4: Prices

%

8.5

8.0

7.5

7.0

6.5

Growth Rate 

Growth Rate

3.0

2.0

1.0

0.0

-1.0

2.0

1.5

1.0

0.5

0.0

-0.5

-1.0

-1.5

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

HICP (m/m-1)

Industrial producer prices (m/m-1)

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

Employment (q/q-1)

Unemployment rate Total (%)

Graph 5: External Transactions

Graph 6: Financial

millions  euro

3000

2000

1000

0

-1000

-2000

-3000

%

3.5

3.0

2.5

2.0

1.5

€/$

1.600

1.500

1.400

1.300

1.200

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

External trade balance  

BOP current account 

Long-term government bond yields - rates

Euro-dollar exchange rate

72

Eurostatistics — 01/2013 edition 

Principal European Economic Indicators (PEEIs)

2

Detailed PEEIs analysis for Sweden

Indicators

Unit

Reference Period

GDP (volume)
Private final consumption 
(volume)
Investment (GFCF) (volume)

Q/Q-1 % (1)

Q/Q-1 % (1)

Q/Q-1 % (1)

2011q3
1.2

2011q4
-1.1

2012q1
0.5

2012q2
0.7

2012q3
0.5

-0.7

1.3

0.5

-0.3

1.1

2.5

0.0

-0.4

0.2

-1.1

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2011q3
4.2

2011q4
1.1

2012q1
1.7

2012q2
0.9

2012q3
0.3

1.1

4.9

0.4

2.1

2.2

12.1

0.8

3.0

1.3

-0.4

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

External trade balance 
(extra EU27) (1)

BOP Current account 
(All countries of the world)

mn euro

mn euro

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

M/M-1 %
M/M-12 %
M/M-1 %
M/M-12 %

1841.7

2011q3

7252.0

2012m1
-0.6
0.7
1.3
-0.6

1150.4

2011q4

4771.0

2012m2
0.7
1.0
0.7
0.2

1203.8

2012q1

7550.0

2012m3
0.5
1.1
-0.5
-0.5

1137.1

2012q2

6188.0

2012m4
0.3
1.0
-0.5
-0.5

1456.5

2012q3

:

2012m5
0.0
0.9
-0.8
-0.2

1414.0

978.9

1642.3

1513.0

1254.1

:

:

2012m6
-0.3
0.9
-0.4
-0.4

2012m7
-0.5
0.7
-0.8
-0.8

2012m8
0.1
0.9
0.4
-0.5

2012m9
0.7
1.0
0.2
0.5

2012m10
0.1
1.2
-0.2
0.2

2012m11
-0.2
0.8
-0.2
-1.6

2012m12
:
:
:
:

Unemployment rate -  total (1)
Unemployment rate -  
age <25 year (1)
Unemployment rate -  
age >25 year (1)

%

%

%

Labour Cost Index

Employment

Industrial production

Industrial new orders 

Production in construction

Retail trade deflated turnover

Q/Q-1 % (1)

Q/Q-1 % (1)

M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %

General government deficit (-)/ 
surplus (+)

%

General government gross debt %

2012m1
7.6

2012m2
7.5

2012m3
7.3

2012m4
7.4

2012m5
7.8

2012m6
7.6

2012m7
7.5

2012m8
7.9

2012m9
7.8

2012m10
7.7

2012m11
8.1

2012m12
:

22.5

5.4

2011q3
0.4
2011q3
0.3

2012m1
1.8
1.0
-3.9
-2.6
2.4
14.6
0.4
1.3

2005

2.2

50.4

23.4

5.2

2011q4
0.7
2011q4
0.1

2012m2
-3.3
-5.6
-5.7
-10.1
-0.1
13.3
0.9
2.7

2006

2.3

45.3

22.9

5.0

2012q1
1.6
2012q1
0.1

2012m3
0.8
-3.8
0.6
-9.6
-0.5
12.3
-0.2
2.9

2007

3.6

40.2

22.2

5.2

2012q2
0.7
2012q2
0.2

2012m4
0.5
-2.6
0.0
-9.0
0.2
10.2
-0.2
-0.1

2008

2.2

38.8

24.5

5.3

2012q3
0.4
2012q3
0.2

2012m5
1.7
0.0
:
:
-2.5
4.8
0.3
4.1

2009

-0.7

42.6

22.9

5.4

22.8

5.3

  Q/Q-4 % (2)

Q/Q-4 %

2012m7
0.6
1.4
:
:
-1.8
-1.1
0.2
2.6

2011

0.4

38.4

2012m6
0.5
2.7
:
:
1.9
3.5
0.1
0.8

2010

0.3

39.5

25.6

5.3

2011q3
2.8
2011q3
2.1

2012m8
-0.5
3.1
:
:
-0.2
2.7
-0.8
1.4

23.3

5.6

2011q4
2.8
2011q4
1.5

2012m9
-3.3
-4.1
:
:
1.4
-0.1
1.2
3.9

23.0

5.5

2012q1
3.7
2012q1
0.8

2012m10
1.4
-1.9
:
:
-4.7
-4.7
-1.2
1.3

24.8

5.7

2012q2
3.4
2012q2
0.7

2012m11
:
:
:
:
:
:
0.2
0.8

:

:

2012q3
3.4
2012q3
0.6

2012m12
:
:
:
:
:
:
:
:

Economic sentiment indicator (1)  

index

97.2

97.6

104.2

104.9

103.3

101.5

101.0

100.7

100.0

97.2

93.2

94.8

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

3-month interest rate
Long term government  
bond yields 
Swedish Krona exchange rates 
against the euro 

%

%

Average

2012m1
2.61

2012m2
2.44

2012m3
2.30

2012m4
2.19

2012m5
2.14

2012m6
2.14

2012m7
2.10

2012m8
2.02

2012m9
1.69

2012m10
1.51

2012m11
1.46

2012m12
1.37

1.70

8.85

1.89

8.82

1.95

8.89

1.82

8.87

1.51

8.99

1.45

8.87

1.33

8.55

1.44

8.28

1.51

8.49

1.54

8.61

1.46

8.61

:

8.65

(1)  swda: Seasonally adjusted and adjusted data by working days
(2)  wda: Adjusted data by working days 
« : » not available data; « - » not existing data
The set of indicators is selected from the PEEIs list (COM/2002/661) and complemented by certain Monetary and Financial Indicators as well as the Economic Sentiment Indicator.
Indicator 
3 months Interest rate 
Long term government bond yields 
Euro-dollar exchange rate 
Economic Sentiment Indicator 

Source
ECB
ECB
ECB
Directorate General for Economic and Financial Affairs (DG ECFIN)

  Eurostatistics — 01/2013 edition

73

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2

Sweden

Graph 1: Output

Growth rate

Index

4.0

2.0

0.0

-2.0

-4.0

-6.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

Graph 2: Demand

Growth Rate (PFC, 
I)

6.0

4.0

2.0

0.0

-2.0

Growth Rate (RT)

6.0

4.0

2.0

0.0

-2.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

135

125

115

105

95

85

GDP (q/q-1)

Industrial Production (m/m-1)

Economic Sentiment Indicator

Private Final Consumption (PFC) (q/q-1)

Investment (I) (q/q-1)

Retail trade (RT) (m/m-1)

Graph 3: Labour

Graph  4: Prices

%

8.5

8.0

7.5

7.0

6.5

Growth Rate 

Growth Rate

1.5

1.0

0.5

0.0

-0.5

1.5

1.0

0.5

0.0
0 0

-0.5

-1.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

HICP (m/m-1)

Industrial producer prices (m/m-1)

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

Employment (q/q-1)

Labour cost index  (q/q-1)

Unemployment rate Total (%)

Graph 5: External Transactions

Graph 6: Financial

millions  euro

8000

7000

6000

5000

4000

3000
3000

2000

1000

0

%

5.0

4.0

3.0

2.0

1.0

0.0

Swedish Krona/€

10.50

10.00

9.50

9.00

8.50

8.00

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

External trade balance  

BOP current account 

3-month interest rates
Long-term government bond yields - rates
Swedish Krona exchange rates against the euro 

74

Eurostatistics — 01/2013 edition 

Principal European Economic Indicators (PEEIs)

2

Detailed PEEIs analysis for United Kingdom

Indicators

Unit

Reference Period

GDP (volume)
Private final consumption 
(volume)
Investment (GFCF) (volume)

Q/Q-1 % (1)

Q/Q-1 % (1)

Q/Q-1 % (1)

2011q3
0.6

2011q4
-0.3

2012q1
-0.2

2012q2
-0.4

2012q3
0.9

-0.2

0.3

0.2

-0.4

0.5

0.6

0.4

-0.5

0.3

-0.2

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2011q3
0.8

2011q4
0.6

2012q1
1.4

2012q2
-0.9

2012q3
0.1

-1.4

-5.2

-1.6

-3.0

0.3

3.1

0.8

0.5

1.8

0.3

External trade balance 
(extra EU27) (1)

BOP Current account 
(All countries of the world)

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

mn euro

-6414.2

-7788.6

-6775.0

-8053.8

-6175.4

-7181.8

-7104.7

-9141.2 -11339.7 -10217.7

:

:

2011q3

2011q4

2012q1

2012q2

2012q3

mn euro

-14684.0

-7781.0 -19124.0 -25071.0

:

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

M/M-1 %
M/M-12 %
M/M-1 %
M/M-12 %

2012m1
-0.5
3.6
0.1
6.9

2012m2
0.6
3.4
2.3
8.4

2012m3
0.3
3.5
0.7
5.5

2012m4
0.6
3.0
-0.5
3.4

2012m5
-0.1
2.8
-2.3
2.0

2012m6
-0.4
2.4
-2.3
-0.4

2012m7
0.1
2.6
0.7
-0.3

2012m8
0.5
2.5
2.0
2.9

2012m9
0.4
2.2
0.5
2.3

2012m10
0.5
2.7
0.4
2.1

2012m11
:
:
-0.2
1.1

2012m12
:
:
:
:

Unemployment rate -  total (1)
Unemployment rate -  
age <25 year (1)
Unemployment rate -  
age >25 year (1)

%

%

%

Labour Cost Index

Employment

Industrial production

Industrial new orders 

Production in construction

Retail trade deflated turnover

Q/Q-1 % (1)

Q/Q-1 % (1)

M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %

General government deficit (-)/ 
surplus (+)

%

General government gross debt %

2012m1
8.2

2012m2
8.1

2012m3
8.1

2012m4
7.9

2012m5
7.9

2012m6
7.9

2012m7
7.8

2012m8
7.8

2012m9
7.8

2012m10
:

2012m11
:

2012m12
:

22.1

5.9

2011q3
0.0
2011q3
-0.6

2012m1
-0.6
-4.1
2.8
19.8
-9.5
-1.6
0.4
1.6

2005

-3.4

42.2

21.8

5.8

2011q4
0.7
2011q4
0.3

2012m2
0.3
-3.2
-3.1
-1.0
6.5
-4.6
-0.6
1.7

2006

-2.7

43.3

21.7

5.8

2012q1
-0.7
2012q1
0.4

2012m3
-0.4
-1.9
0.1
-0.5
14.2
-8.3
2.2
4.8

2007

-2.8

44.2

21.3

5.7

2012q2
2.0
2012q2
0.7

2012m4
-0.7
-2.3
-0.5
7.4
-15.5
-8.5
-2.2
-0.4

2008

-5.1

52.3

21.0

5.6

2012q3
0.0
2012q3
0.3

2012m5
1.1
-1.7
:
:
6.8
-5.7
1.3
3.3

2009

-11.5

67.8

20.9

5.7

20.4

5.7

  Q/Q-4 % (2)

Q/Q-4 %

2012m7
3.0
-0.7
:
:
-0.9
-9.6
0.3
3.9

2011

-7.8

85.0

2012m6
-2.4
-4.0
:
:
-3.1
-13.7
0.7
3.7

2010

-10.2

79.4

20.5

5.7

2011q3
1.9
2011q3
-0.4

2012m8
-0.5
-0.8
:
:
-1.0
-10.9
0.0
4.2

20.2

5.7

2011q4
2.2
2011q4
0.1

2012m9
-2.1
-3.5
:
:
-3.1
-13.2
0.4
3.8

:

:

2012q1
0.4
2012q1
0.1

2012m10
-0.8
-3.5
:
:
11.7
-5.1
-0.6
2.1

:

:

2012q2
2.1
2012q2
0.9

2012m11
:
:
:
:
:
:
0.4
2.5

:

:

2012q3
1.8
2012q3
1.8

2012m12
:
:
:
:
:
:
:
:

Economic sentiment indicator (1)  

index

93.6

93.9

91.5

95.7

91.0

92.9

94.6

91.5

91.9

97.1

100.2

96.7

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

3-month interest rate
Long term government  
bond yields 
Pound Sterling exchange rates 
against the euro 

%

%

Average

2012m1
1.09

2012m2
1.07

2012m3
1.04

2012m4
1.02

2012m5
1.01

2012m6
0.95

2012m7
0.82

2012m8
0.70

2012m9
0.65

2012m10
0.54

2012m11
0.52

2012m12
0.52

2.04

0.83

2.13

0.84

2.17

0.83

2.03

0.82

1.78

0.80

1.60

0.81

1.47

0.79

1.49

0.79

1.53

0.80

1.54

0.81

1.55

0.80

:

0.81

(1)  swda: Seasonally adjusted and adjusted data by working days
(2)  wda: Adjusted data by working days 
« : » not available data; « - » not existing data
The set of indicators is selected from the PEEIs list (COM/2002/661) and complemented by certain Monetary and Financial Indicators as well as the Economic Sentiment Indicator.
Indicator 
Current account 
3 months Interest rate 
Long term government bond yields 
Euro-dollar exchange rate 
Economic Sentiment Indicator 

Source
European Central Bank (ECB) for euro area only
ECB
ECB
ECB
Directorate General for Economic and Financial Affairs (DG ECFIN)

  Eurostatistics — 01/2013 edition

75

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2

United Kingdom

Graph 1: Output

Growth rate

Index

4.0

3.0

2.0

1.0

0.0

-1.0

-2.0

-3.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

Graph 2: Demand

Growth Rate (PFC, 
I)

6.0

4.0

2.0

0.0

-2.0

-4.0

Growth Rate (RT)

6.0

4.0

2.0

0.0

-2.0

-4.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

120

110

100

90

80

70

60

50

40

GDP (q/q-1)

Industrial Production (m/m-1)

Economic Sentiment Indicator

Private Final Consumption (PFC) (q/q-1)

Investment (I) (q/q-1)

Retail trade (RT) (m/m-1)

Graph 3: Labour

Graph  4: Prices

%

8.5

8.3

8.1

7.9
7.9

7.7

7.5

Growth Rate 

Growth Rate

6.0

4.0

2.0

0.0
0.0

-2.0

-4.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

Employment (q/q-1)

Labour cost index  (q/q-1)

Unemployment rate Total (%)

3.0

2.0

1.0

0.0

-1.0

-2.0

-3.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

HICP (m/m-1)

Industrial producer prices (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

millions  euro

0

-5000

-10000

-15000

-20000

-25000

-30000

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

%

8.0

6.0

4.0

2.0

0.0

Pound Sterling/€

1.10

1.00

0.90

0.80

0.70

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

External trade balance  

BOP current account 

3-month interest rates

Long-term government bond yields - rates

Pound Sterling exchange rates against the euro 

76

Eurostatistics — 01/2013 edition 

Principal European Economic Indicators (PEEIs)

2

Detailed PEEIs analysis for Norway

Indicators

Unit

Reference Period

GDP (volume)
Private final consumption 
(volume)
Investment (GFCF) (volume)

Q/Q-1 % (1)

Q/Q-1 % (1)

Q/Q-1 % (1)

2011q3
2.1

2011q4
-0.1

2012q1
1.4

2012q2
1.0

2012q3
-0.8

0.5

7.1

1.0

1.7

0.9

1.3

0.7

1.0

0.8

0.9

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2011q3
4.2

2011q4
1.7

2012q1
4.4

2012q2
4.7

2012q3
1.2

3.0

12.5

1.9

6.6

4.2

4.8

2.3

11.5

2.9

4.8

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

External trade balance 
(rest of the world)

BOP Current account 
(All countries of the world)

mn euro

mn euro

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

M/M-1 %
M/M-12 %
M/M-1 %
M/M-12 %

Unemployment rate -  total (1)
Unemployment rate -  
age <25 year (1)
Unemployment rate -  
age >25 year (1)

%

%

%

Labour Cost Index (2)

Q/Q-1 %

Employment

Q/Q-1 % (1)

Industrial production

Industrial new orders 

Production in construction

Retail trade deflated turnover

M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %

General government deficit (-)/ 
surplus (+)

%

General government gross debt %

5742.2

2011q3

:

2012m1
-0.4
0.3
1.1
0.7

5963.7

2011q4

:

2012m2
1.2
1.0
2.4
2.2

6264.0

2012q1

:

2012m3
-0.1
0.5
-1.8
-0.9

4903.4

2012q2

:

2012m4
0.0
-0.1
0.1
-0.9

5090.2

2012q3

:

2012m5
0.0
0.2
-1.2
-1.6

3635.6

4102.9

4435.4

3020.2

4223.2

:

:

2012m6
-0.6
0.0
-1.7
-2.4

2012m7
-0.5
-0.2
-1.5
-3.3

2012m8
-0.5
0.0
2.0
-0.1

2012m9
1.2
0.1
0.6
0.6

2012m10
0.5
0.8
1.1
1.8

2012m11
0.1
0.9
-0.2
0.2

2012m12
:
:
:
:

2012m1
3.3

2012m2
3.2

2012m3
3.1

2012m4
3.0

2012m5
3.0

2012m6
3.1

2012m7
3.0

2012m8
3.1

2012m9
3.0

2012m10
:

2012m11
:

2012m12
:

8.1

2.5

2011q3
-
2011q3
0.7

2012m1
4.4
3.0
-
-
:
:
1.1
2.9

2005

15.1

44.5

8.0

2.4

2011q4
-
2011q4
0.2

2012m2
-0.3
3.2
-
-
:
:
1.1
3.1

2006

18.5

55.4

7.9

2.3

2012q1
-
2012q1
0.8

2012m3
-0.6
2.4
-
-
:
:
0.6
4.5

2007

17.5

51.5

8.1

2.2

2012q2
-
2012q2
0.6

2012m4
2.4
7.3
-
-
:
:
-0.3
3.5

2008

18.8

48.2

8.0

2.2

2012q3
-
2012q3
0.4

2012m5
0.9
13.0
-
-
:
:
1.7
5.2

2009

10.6

43.5

8.2

2.3

8.1

2.2

Q/Q-4 %

Q/Q-4 %

2012m7
-3.1
2.4
-
-
:
:
0.1
3.8

2011

13.6

29.0

2012m6
0.3
7.6
-
-
:
:
-1.5
3.3

2010

11.2

43.7

8.8

2.1

2011q3
-
2011q3
1.6

2012m8
-0.1
1.8
-
-
:
:
-0.2
1.7

8.5

2.1

2011q4
-
2011q4
1.6

2012m9
-5.5
-5.0
-
-
:
:
0.6
3.2

:

:

2012q1
-
2012q1
2.2

2012m10
4.9
2.3
-
-
:
:
-1.1
1.2

:

:

2012q2
-
2012q2
2.4

2012m11
-3.6
-3.5
-
-
:
:
0.2
1.9

:

:

2012q3
-
2012q3
2.1

2012m12
:
:
-
-
:
:
:
:

Economic sentiment indicator (1)

index

-

-

-

-

-

-

-

-

-

-

-

-

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

3-month interest rate (3)
Long term government 
bond yields (3)
Norwegian Krone exchange rates 
against the euro (4)

%

%

Average

2012m1
2.70

2012m2
2.67

2012m3
2.43

2012m4
2.32

2012m5
2.32

2012m6
2.34

2012m7
2.24

2012m8
2.13

2012m9
1.96

2012m10
1.92

2012m11
1.92

2012m12
1.87

2.22

7.68

2.40

7.55

2.48

7.53

2.34

7.57

2.05

7.57

1.94

7.54

1.73

7.46

1.92

7.32

2.07

7.39

1.98

7.41

2.01

7.34

2.08

7.35

((1)  swda: Seasonally adjusted and adjusted data by working days
(2)  wda: Adjusted data by working days 
(3)  Source: OECD Main Economic Indicators database
(4)  Source: ECB
« : » not available data; « - » not existing data 

  Eurostatistics — 01/2013 edition

77

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2

Norway

Graph 1: Output

Growth rate

6.0

4.0

2.0

0.0

-2.0

-4.0

-6.0

-8.0

Principal European Economic Indicators (PEEIs)

Graph 2: Demand

Growth Rate (PFC, 
I)

15.0

10.0

5.0

0.0

-5.0
5 0

-10.0

-15.0

Growth Rate (RT)

3.0

2.0

1.0

0.0

-1.0
1 0

-2.0

-3.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

GDP (q/q-1)

Industrial Production (m/m-1)

Private Final Consumption (PFC) (q/q-1)

Investment (I) (q/q-1)

Retail trade (RT) (m/m-1)

Graph 3: Labour

Graph  4: Prices

%

3.8

3.6

3.4

3.2
3.2

3.0

2.8

Growth Rate 

Growth Rate

1.5

1.0

0.5

0.0
0.0

-0.5

-1.0

3.0

2.5

2.0

1.5

1.0

0.5

0.0

-0.5

-1.0

-1.5

-2.0

-2.5

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

HICP (m/m-1)

Industrial producer prices (m/m-1)

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

Employment (q/q-1)

Unemployment rate Total (%)

Graph 5: External Transactions

Graph 6: Financial

millions  euro
7000

6000

5000

4000

3000

2000

1000

0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

External trade balance  

%

7.0

6.0

5.0

4.0

3.0

2.0

1.0

Norwegian Krone/€

9.60

9.20

8.80

8.40

8.00

7.60

7.20

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

3-month interest rates

Long-term government bond yields - rates

Norwegian Krone exchange rates against the euro

78

Eurostatistics — 01/2013 edition 

Principal European Economic Indicators (PEEIs)

2

Detailed PEEIs analysis for Switzerland

Indicators

Unit

Reference Period

GDP (volume)
Private final consumption 
(volume)
Investment (GFCF) (volume)

Q/Q-1 % (1)

Q/Q-1 % (1)

Q/Q-1 % (1)

2011q3
-0.2

2011q4
0.3

2012q1
0.5

2012q2
-0.1

2012q3
0.6

0.2

0.4

0.9

1.0

0.9

0.2

0.3

0.0

0.1

-0.5

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2011q3
1.5

2011q4
0.8

2012q1
1.0

2012q2
0.3

2012q3
1.4

0.9

2.4

1.2

2.6

2.4

-3.1

2.3

2.4

2.5

1.4

External trade balance 
(All countries of the world)

BOP Current account 
(All countries of the world) (2)

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

mn euro

-

-

-

-

-

-

-

-

-

-

-

-

2011q3

2011q4

2012q1

2012q2

2012q3

mn euro

10087.1

12498.1

13777.8

16310.3

18029.1

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices (2)

M/M-1 %
M/M-12 %
M/M-1 % 
M/M-12 %

2012m1
-0.7
-0.9
0.0
-2.3

2012m2
0.1
-1.2
0.8
-1.4

2012m3
0.9
-1.0
0.1
-1.4

2012m4
0.0
-1.1
-0.2
-1.7

2012m5
-0.2
-1.1
0.1
-1.1

2012m6
-0.2
-1.2
-0.2
-1.1

2012m7
-0.3
-0.8
0.0
-0.8

2012m8
-0.3
-0.5
0.3
0.4

2012m9
0.7
-0.3
0.1
0.5

2012m10
0.1
-0.1
0.0
0.6

2012m11
-0.5
-0.1
0.1
1.5

2012m12
:
:
:
:

Unemployment rate -  total (1)(3)(4) %
Unemployment rate -  
age <25 year
Unemployment rate -  
age >=25 year

%

%

Labour Cost Index (2)

Q/Q-1 %

Employment (2)(5)

Q/Q-1 % (1)

Industrial production

M/M-1 % (1)
M/M-12 %

Industrial new orders (2)(6)

Q/Q-1 %

Production in construction (2)(7)

Q/Q-1 %

Retail trade deflated turnover

M/M-1 % (1)
M/M-12 %

2012m1
:

2012m2
:

2012m3
:

2012m4
:

2012m5
:

2012m6
:

2012m7
:

2012m8
:

2012m9
:

2012m10
:

2012m11
:

2012m12
:

:

:

2011q3
-
2011q3
0.0

2012m1
:
:
2011q3
-8.1
2011q3
0.0
2012m1
1.9
3.5

:

:

2011q4
-
2011q4
0.9

2012m2
:
:
2011q4
6.9
2011q4
18.6
2012m2
-1.0
1.0

:

:

2012q1
-
2012q1
-1.0

2012m3
:
:
2012q1
:
2012q1
-36.0
2012m3
2.8
4.7

:

:

2012q2
-
2012q2
0.7

2012m4
:
:
2012q2
:
2012q2
21.4
2012m4
-1.4
0.2

:

:

2012q3
-
2012q3
0.9

2012m5
:
:
2012q3
:
2012q3
12.8
2012m5
1.0
6.3

:

:

:

:

Q/Q-4 %

Q/Q-4 %

2012m6
:
:

2012m7
:
:

Q/Q-4 %

Q/Q-4 %
2012m7
-0.6
2.9

2012m6
0.1
3.3

:

:

2011q3
-
2011q3
1.6

2012m8
:
:
2011q3
-4.8
2011q3
16.4
2012m8
0.5
5.9

:

:

2011q4
-
2011q4
2.3

2012m9
:
:
2011q4
-1.6
2011q4
7.7
2012m9
0.1
5.0

:

:

2012q1
-
2012q1
1.2

2012m10
:
:
2012q1
:
2012q1
-4.8
2012m10
-0.4
2.7

:

:

2012q2
-
2012q2
0.6

2012m11
:
:
2012q2
:
2012q2
-7.9
2012m11
:
:

:

:

2012q3
-
2012q3
1.4

2012m12
:
:
2012q3
:
2012q3
3.9
2012m12
:
:

General government deficit (-)/ 
surplus (+)

%

General government gross debt %

2005

2006

2007

2008

2009

2010

2011

:

:

:

:

:

:

:

:

:

:

:

:

:

:

Economic sentiment indicator (1)

index

-

-

-

-

-

-

-

-

-

-

-

-

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

3-month interest rate (3)
Long term government 
bond yields (3)
Swiss Franc exchange rates 
against the euro (8)

%

%

Average

2012m1
0.07

2012m2
0.09

2012m3
0.11

2012m4
0.11

2012m5
0.10

2012m6
0.09

2012m7
0.06

2012m8
0.05

2012m9
0.04

2012m10
0.03

2012m11
0.03

2012m12
:

0.74

1.21

0.72

1.21

0.85

1.21

0.74

1.20

0.61

1.20

0.68

1.20

0.56

1.20

0.57

1.20

0.60

1.21

0.60

1.21

0.53

1.21

:

1.21

(1)  swda: Seasonally adjusted and adjusted data by working days
(2)  Calculated by Eurostat from OECD Main Economic Indicators database. There may be rounding differences with data published nationally
(3)  Source: OECD Main Economic Indicators database  
(4)  Registered unemployment rate
(5) Civilian employment: all persons
(6)  New orders for total manufacturing
(7)  Production of dwellings
 (8)  Source: ECB
« : » not available data; « - » not existing data

  Eurostatistics — 01/2013 edition

79

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2

Switzerland

Graph 1: Output

Growth rate

1.0

0.5

0.0

-0.5

-1.0

Principal European Economic Indicators (PEEIs)

Graph 2: Demand

Growth Rate (PFC, 
I)

4.0

3.0

2.0

1.0

0.0

-1.0

Growth Rate (RT)

12.0

8.0

4.0

0.0

-4.0

-8.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

GDP (q/q-1)

Private Final Consumption (PFC) (q/q-1)

Investment (I) (q/q-1)

Retail trade (RT) (m/m-1)

Graph 3: Labour

Growth Rate

Graph  4: Prices

Growth Rate

1.0

0.5

0.0

0.5
-0.5

-1.0

-1.5

1.0

0.8

0.6

0.4

0.2

0.0

-0.2

-0.4

-0.6

-0.8

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

Employment (q/q-1)

HICP (m/m-1)

Industrial producer prices (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

millions  euro

30000

25000

20000

15000

10000

5000

0

-5000

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

BOP current account 

%

4.0

3.0

2.0

1.0

0.0

-1.0

Swiss Franc/€

1.50

1.40

1.30

1.20

1.10

1.00

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

3-month interest rates

Long-term government bond yields - rates

Swiss Franc exchange rates against the euro

80

Eurostatistics — 01/2013 edition 

Principal European Economic Indicators (PEEIs)

2

Detailed PEEIs analysis for United States

Indicators

Unit

Reference Period

GDP (volume)
Private final consumption 
(volume)
Investment (GFCF) (volume)

Q/Q-1 % (1)

Q/Q-1 % (1)

Q/Q-1 % (1)

2011q3
0.3

2011q4
1.0

2012q1
0.5

2012q2
0.3

2012q3
0.8

0.4

2.6

0.5

2.0

0.6

1.3

0.4

1.0

0.4

0.2

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2011q3
:

2011q4
:

2012q1
:

2012q2
:

2012q3
:

:

:

:

:

:

:

:

:

:

:

External trade balance 
(All countries of the world) (1)(2)

BOP Current account 
(All countries of the world)

Consumer Prices Index- 
All items(2)

Industrial producer prices (2)

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

mn euro

-51778.4 -45379.6 -51102.2 -49566.9 -49362.7 -45848.6 -47070.3 -47475.8 -44687.3

:

:

:

2011q3

2011q4

2012q1

2012q2

2012q3

mn euro

-90974.0 -90437.0

:

:

:

M/M-1 %
M/M-12 %
M/M-1 % (1)
M/M-12 %

2012m1
-0.2
2.9
0.8
5.5

2012m2
-0.4
2.9
0.5
4.8

2012m3
-0.3
2.6
1.1
3.7

2012m4
0.0
2.3
0.2
2.4

2012m5
0.3
1.7
-0.6
0.9

2012m6
0.0
1.7
-1.0
0.3

2012m7
-0.1
1.4
-0.3
-0.3

2012m8
-0.6
1.7
1.1
1.4

2012m9
-0.6
2.0
1.0
2.0

2012m10
-0.1
2.2
-0.2
2.5

2012m11
0.3
1.8
-1.2
1.0

2012m12
:
:
:
:

Unemployment rate -  total (1)
Unemployment rate -  
age <25 year (1)
Unemployment rate -  
age >25 year (1)

%

%

%

Labour Cost Index (1) (2)(3)

Q/Q-1 %

Employment  (2)

Q/Q-1 % (1)

Industrial production

Industrial new orders (2)(5)

Production in construction - 
value (2) (6)

Retail trade deflated turnover

M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %

2012m1
8.3

2012m2
8.3

2012m3
8.2

2012m4
8.1

2012m5
8.2

2012m6
8.2

2012m7
8.3

2012m8
8.1

2012m9
7.8

2012m10
7.9

2012m11
7.8

2012m12
:

16.0

7.0

2011q3
0.5
2011q3
0.2

2012m1
-
-
-2.0
8.1
1.3
4.2
-
-

16.5

7.0

2011q4
0.3
2011q4
0.6

2012m2
-
-
1.5
14.3
1.0
6.8
-
-

16.4

6.8

2012q1
0.3
2012q1
0.9

2012m3
-
-
-2.1
2.1
-1.3
7.6
-
-

16.4

6.8

2012q2
0.4
2012q2
0.2

2012m4
-
-
-0.7
3.3
1.8
5.4
-
-

16.1

6.9

2012q3
0.3
2012q3
0.2

2012m5
-
-
0.5
3.9
3.2
2.9
-
-

16.5

6.9

16.4

6.9

Q/Q-4 %

Q/Q-4 %

2012m7
-
-
2.6
2.5
1.2
22.9
-
-

2012m6
-
-
-0.5
0.4
3.3
11.5
-
-

16.8

6.8

2011q3
2.1
2011q3
0.3

2012m8
-
-
-5.1
-2.7
2.7
19.1
-
-

15.5

6.6

2011q4
1.8
2011q4
1.1

2012m9
-
-
4.5
0.2
2.8
24.0
-
-

16.0

6.6

2012q1
1.6
2012q1
1.8

2012m10
-
-
0.8
5.2
1.3
22.0
-
-

15.6

6.5

2012q2
1.5
2012q2
1.9

2012m11
-
-
0.0
0.7
0.4
21.0
-
-

:

:

2012q3
1.3
2012q3
1.9

2012m12
-
-
:
:
:
:
-
-

General government deficit (-)/ 
surplus (+)

%

General government gross debt %

2005

2006

2007

2008

2009

2010

2011

:

:

:

:

:

:

:

:

:

:

:

:

:

:

Economic sentiment indicator (1

index

-

-

-

-

-

-

-

-

-

-

-

-

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

3-month interest rate
Long term government  
bond yields 
Euro-dollar exchange rate (7)

%

%

Average

2012m1
0.57

2012m2
0.50

2012m3
0.47

2012m4
0.47

2012m5
0.47

2012m6
0.47

2012m7
0.45

2012m8
0.43

2012m9
0.39

2012m10
0.33

2012m11
0.31

2012m12
0.31

1.94

1.29

1.96

1.32

2.16

1.32

2.03

1.32

1.79

1.28

1.61

1.25

:

1.23

:

1.24

:

1.29

:

1.30

:

1.28

:

1.31

(1)  swda: Seasonally adjusted and adjusted data by working days
(2)  Calculated by Eurostat from OECD Main Economic Indicators database. There may be rounding differences with data published nationally
(3)  Hourly earnings
(4)  Civilian employment: all persons
(5)  New orders for total manufacturing
(6)  Production of dwellings
 (7)  Source: ECB
« : » not available data; « - » not existing data

  Eurostatistics — 01/2013 edition

81

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2

United States

Graph 1: Output

Growth rate

1.5

1.0

0.5

0.0

-0.5

Principal European Economic Indicators (PEEIs)

Graph 2: Demand

Growth Rate (PFC, 
I)

1.4

1.2

1.0

0.8

0.6

0.4

0.2

0.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

GDP (q/q-1)

Private Final Consumption (PFC) (q/q-1)

Investment (I) (q/q-1)

Graph 3: Labour

Graph  4: Prices

%

9.5

9.0

8.5

8.0

7.5

Growth Rate 

Growth Rate

1.0

0.5

0.0

-0.5

-1.0

1.5

1.0

0.5

0.0

-0.5

-1.0

-1.5

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

Employment (q/q-1)

Labour cost index  (q/q-1)

Unemployment rate Total (%)

CPI (m/m-1)

Industrial producer prices (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

millions  euro

0

-20000

-40000

-60000

-80000

-100000

-120000

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

BOP current account 

External trade balance  

%

4.5

4.0

3.5

3.0

2.5

2.0

1.5

1.0

0.5

0.0

€/$

1.65

1.60

1.55

1.50

1.45

1.40

1.35

1.30

1.25

1.20

2012m1
2012m3
3-month interest rate
Euro-dollar exchange rate

2012m5

2012m7

2012m9

2012m11

Long term government bond yields 

82

Eurostatistics — 01/2013 edition 

Principal European Economic Indicators (PEEIs)

2

Detailed PEEIs analysis for Japan

Indicators

Unit

Reference Period

GDP (volume)
Private final consumption 
(volume)
Investment (GFCF) (volume)

Q/Q-1 % (1)

Q/Q-1 % (1)

Q/Q-1 % (1)

2011q3
2.5

2011q4
0.1

2012q1
1.4

2012q2
0.0

2012q3
-0.9

1.4

1.7

0.5

4.5

1.1

-0.2

0.1

1.5

-0.4

-1.4

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2011q3
-0.5

2011q4
-0.2

2012q1
3.4

2012q2
3.9

2012q3
0.5

0.5

0.0

1.3

4.6

4.0

5.5

3.2

7.6

1.4

4.1

External trade balance 
(All countries of the world) (1)(2)

BOP Current account 
(All countries of the world)

Consumer Prices Index- 
All items(2)

Industrial producer prices (2)

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

mn euro

-5029.1

-2964.3

-5681.4

-4490.2

-6325.7

-3808.1

-3881.8

-4733.9

-9754.2

:

:

:

2011q3

mn euro

28205.0

M/M-1 %
M/M-12 %
M/M-1 % (1)
M/M-12 %

2012m1
-0.3
0.1
0.0
-0.5

2011q4

8871.0

2012m2
-0.3
0.3
0.1
-0.4

2012q1

2012q2

2012q3

:

:

:

2012m3
-0.1
0.4
0.5
-0.5

2012m4
0.0
0.5
-0.3
-1.5

2012m5
0.4
0.2
-0.5
-1.8

2012m6
0.4
-0.1
-0.8
-2.5

2012m7
0.0
-0.4
-0.7
-3.1

2012m8
0.2
-0.4
0.0
-2.9

2012m9
-0.1
-0.2
0.3
-2.4

2012m10
0.2
-0.4
0.0
-1.8

2012m11
-0.1
-0.2
-0.1
-1.7

2012m12
:
:
:
:

Unemployment rate -  total (1)
Unemployment rate -  
age <25 year (1)
Unemployment rate -  
age >25 year (1)

%

%

%

Labour Cost Index (2)(3)

Q/Q-1 %

Employment (2)(4)

Q/Q-1 % (1)

Industrial production

Industrial new orders (2)(5)

Production in construction

Retail trade deflated turnover

M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %

2012m1
4.6

2012m2
4.5

2012m3
4.5

2012m4
4.6

2012m5
4.4

2012m6
4.3

2012m7
4.3

2012m8
4.2

2012m9
4.2

2012m10
4.2

2012m11
4.1

2012m12
:

9.5

:

2011q3
0.0
2011q3
0.0

2012m1
-
-
:
:
:
:
-
-

9.2

:

2011q4
-1.0
2011q4
0.3

2012m2
-
-
:
:
:
:
-
-

8.6

:

2012q1
1.4
2012q1
0.4

2012m3
-
-
:
:
:
:
-
-

9.2

:

2012q2
-0.5
2012q2
-0.2

2012m4
-
-
:
:
:
:
-
-

8.3

:

2012q3
-0.6
2012q3
0.2

2012m5
-
-
:
:
:
:
-
-

7.4

:

8.2

:

Q/Q-4 %

Q/Q-4 %

2012m7
-
-
:
:
:
:
-
-

2012m6
-
-
:
:
:
:
-
-

8.0

:

2011q3
0.1
2011q3
-0.5

2012m8
-
-
:
:
:
:
-
-

7.0

:

2011q4
0.4
2011q4
-0.1

2012m9
-
-
:
:
:
:
-
-

7.7

:

2012q1
0.1
2012q1
-0.6

2012m10
-
-
:
:
:
:
-
-

8.0

:

2012q2
-0.1
2012q2
-0.3

2012m11
-
-
:
:
:
:
-
-

:

:

2012q3
-0.7
2012q3
-0.1

2012m12
-
-
:
:
:
:
-
-

General government deficit (-)/ 
surplus (+)

%

General government gross debt %

2005

2006

2007

2008

2009

2010

2011

:

:

:

:

:

:

:

:

:

:

:

:

:

:

Economic sentiment indicator (1)  

index

-

-

-

-

-

-

-

-

-

-

-

-

2012m1

2012m2

2012m3

2012m4

2012m5

2012m6

2012m7

2012m8

2012m9

2012m10

2012m11

2012m12

3-month interest rate
Long term government  
bond yields 
Yen exchange rates 
against the euro

%

%

2012m1
0.2

2012m2
0.2

2012m3
0.2

2012m4
0.2

2012m5
0.2

2012m6
0.2

2012m7
0.2

2012m8
0.2

2012m9
0.2

2012m10
0.2

2012m11
0.2

2012m12
0.2

1.0

1.0

1.0

1.0

0.9

Average

99.3

103.8

108.9

107.0

102.0

0.8

99.3

:

:

:

:

:

:

97.1

97.6

100.5

102.5

103.9

109.7

(1)  swda: Seasonally adjusted and adjusted data by working days 
(2)  Calculated by Eurostat from OECD Main Economic Indicators database. There may be rounding differences with data published nationally
(3)  Monthly earnings
(4)  Civilian employment: all persons
(5)  New orders for total manufacturing
 (7)  Source: ECB
« : » not available data; « - » not existing data

  Eurostatistics — 01/2013 edition

83

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2

Japan

Graph 1: Output

Growth rate

2.0

1.5

1.0

0.5

0.0

-0.5

-1.0

-1.5

Principal European Economic Indicators (PEEIs)

Graph 2: Demand

Growth Rate (PFC, 
I)

2.0

1.5

1.0

0.5

0.0

-0.5

-1.0

-1.5

-2.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

GDP (q/q-1)

Private Final Consumption (PFC) (q/q-1)

Investment (I) (q/q-1)

Graph 3: Labour

Graph  4: Prices

%

6.00

5.50

5.00

4.50

4.00

3.50

Growth Rate 

Growth Rate

4.0

2.0

0.0

-2.0

-4.0

-6.0

0.6

0.4

0.2

0.0

-0.2

-0.4
0 4

-0.6

-0.8

-1.0

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

Employment (q/q-1)

Labour cost index  (q/q-1)

Unemployment rate Total (%)

CPI (m/m-1)

Industrial producer prices (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

millions  euro

30000

20000

10000

0
0

-10000

-20000

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

BOP current account 

External trade balance  

%

1.4

1.2

1.0

0.8

0.6

0.4

0.2

0.0

Yen/€

160.00

150.00

140.00

130.00

120.00

110.00

100.00

90.00

2012m1

2012m3

2012m5

2012m7

2012m9

2012m11

3-month interest rates

Long-term government bond yields - rates

Yen exchange rate against the euro

84

Eurostatistics — 01/2013 edition 

Principal European Economic Indicators (PEEIs)

2

Cross-country comparisons
Gross Domestic Product, in volume Q/Q-1

Quarterly growth in percentage, 2012 Q3

2.0

1.5

1.0

0.5

0.0

-0.5

-1.0

-1.5

l

n

t
p

p

j

i

o s
n

y
c

o
r

z
c

s
e

u i
t

l

u
h

i

7 f
1
a
e

e
b

7
2
u
e

r
g f
b

t
a

e
d

e

i

k
d

l

p

e
s

k
s

h
c

s
u

t

m

k l
t
u

e
e

v

l

Private Consumption, in volume Q/Q-1

Quarterly growth in percentage, 2012 Q3

10.0

8.0

6.0

4.0

2.0

0.0

-2.0

t

m

e
e

i

o f
r

o
n

v

l

g
b

e s

i

i

s
u

e
d

k
u

r
f

e
s

e
b

h
c

t
a

7
2
u
e

7
1
a
e

u p

l

l

t
l

l

n

t
p

k
s

z
c

k
d

p

j

s
e

t
y i
c

u
h

Balance of payments, current account 

Millions of euro, 2012 Q2

50,000.0

40,000.0

30,000.0

20,000.0

10,000.0

0.0

-10,000.0

-20,000.0

-30,000.0

k
u

r
f

7
2
u
e

s
e

l

e

l

p

o f
r

i

t
p

t
i

g
b

z
c

y
c

v

l

e
e

t

m

k s
s

i

t
l

u
h

u

l

t
a

e

i

e
b

k
d

  Eurostatistics — 01/2013 edition

e n

l

s

e
d

85

2

Principal European Economic Indicators (PEEIs)

Harmonized Index of Consumer Prices: all items, M/M-1

Monthly growth in percentage, 2012 M11

0.5

0.0

-0.5

-1.0

-1.5

-2.0

t
a

l

p

k
s

o
n

7
2
u
e

e
b

v

l

u
h

i

o f
r

a
e

g
b

k
d

e
d

s
e

r
f

t
l

Unemployment rates, harmonized rates: total

u s

i

l

e
s

z
c

l

e e
e

t
i

t
p

e n

l

i

h
c

y
c

t

m

As a percentage of unemployed persons in the total number of active population, 2012 M11

30.0

25.0

20.0

15.0

10.0

5.0

0.0

p a

t

j

u

l

l

e n
d

o
r

t

m

e
b

z
c

s
u

i

k f
d

e s
s

i

r
f

l

p

t
7 i
2
u
e

7
1
a
e

t
g l
b

y
c

k
s

e

i

t
p

s
e

Long term interest rates − Long term government bond yields*  

Average according to Maastricht definition, 2012 M11

20.0

18.0

16.0

14.0

12.0

10.0

8.0

6.0
6 0

4.0

2.0

0.0

l

e

t
p

y
c

u
h

o
r

s
e

i
s

t
i

(*) for more information, see footnote on LU table

e p

i

l

l

p

k l
t
s

t

m

a
e

v

l

7
2
u
e

g
b

r
e f
b

z
c

t
a

i
f

l

n

k
u

u

l

e
s

e
d

k
d

86

Eurostatistics — 01/2013 edition 

Symbols and codes 
in the tables

EU-27:   European Union (27 countries) 
EA-17:   Euro area (17 countries)
EA-16:   Euro area (16 countries)
EA-15:   Euro area (15 countries)
EA-13:   Euro area (13 countries)
EU-25:   European Union (25 countries) 
EU-15:   European Union (15 countries) 
EA:  

Euro area (EA-11 up to 31.12.2000 / EA-12 up to 31.12.2006 / EA-13 up to 
31.12.2007 / EA-15 up to 31.12.2008 / EA-16 up to 31.12.2010 / EA-17 onwards)

EA-12:   Euro area (12 countries) 
BE:  
BG:  
CZ:  
DK:  
DE:  
EE:  
IE:  
EL:  
ES:  
FR:  
IT:  
CY:  
LV:  
LT:  
LU:  
HU:  
MT:  
NL:  
AT:  
PL:  
PT:  
RO:  
SI:  
SK:  
FI:  
SE:  
UK:  
NO:  
CH:  
US:  
JP:  
« : »  
« - »  
« c »  

Belgium 
Bulgaria
Czech Republic 
Denmark 
Germany (including ex-GDR from 1991) 
Estonia 
Ireland
Greece 
Spain 
France 
Italy 
Cyprus 
Latvia 
Lithuania 
Luxembourg (Grand-Duché) 
Hungary 
Malta 
Netherlands 
Austria 
Poland 
Portugal 
Romania 
Slovenia 
Slovak Republic 
Finland 
Sweden 
United Kingdom 
Norway 
Switzerland
United States 
Japan 
not available data 
not existing data 
confidential data

Data  presented  in  Section  2  of  this  publication  have  been  extracted  from  Eurostat’s 
European and National Short-Term Indicators database on 10th January 2013.

  Eurostatistics — 01/2013 edition

87