Eurostatistics. Data for short-term economic analysis. Issue number 03/2016.
Date: 2016-03-15
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 03/2016

2016 edition

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ISSN 1831-3221
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Theme: General and regional statistics
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© European Union, 2016
© Cover photo: Frédéric Cirou/PhotoAlto

 
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) .........................................................................17

Detailed PEEIs analysis for European Union (EU28) ................................................................................................18

Detailed PEEIs analysis for euro area  ...........................................................................................................................20

Detailed PEEIs by countries .............................................................................................................................................22

Cross-country comparisons .............................................................................................................................................86

Symbols and codes in the tables ...................................................................................................................................88

  Eurostatistics — 03/2016 edition

3

Section I

Summary analysis

International context: GDP growth decelerated in the US and China in Q4 2015 

Editorial 

Summary analysis

1

The second estimate revised up to 0.3% the US quarterly GDP growth for Q4 2015, which 
nevertheless still declined from 0.5% in Q3 and 1.0% in Q2. The deceleration in Q4 2015 was 
due to a slow-down in personal consumption expenditures, downturns in non-residential 
fixed  investment,  in  state  and  local  government  expenditures  and  in  exports,  partially 
compensated by a decrease in imports and an acceleration in federal government spending. 
The second estimate revised up to 1.9% the US annual GDP growth rate in Q4 2015, down 
from 2.1% in Q3 and 2.7% in Q2.

Regarding  the  BRICS  countries  (Brazil,  Russia,  India,  China  and  South  Africa),  the 
economy continued to decelerate in China with a quarterly GDP growth rate of 1.6% in Q4 
2015 after 1.8% in Q3. The annual GDP growth rate was 6.8% in Q4 2015, slightly declining 
from 6.9% in Q3. The slowdown in GDP growth was partially driven by slowing growth in 
manufacturing and in 2015 China continued its transition to a more consumption-oriented 
economy. India reported a slight deceleration of its GDP for Q4 2015 with a growth rate of 
1.7% down from 1.8% for Q3. The annual GDP growth rate remained nevertheless solid at 
7.5% up from 7.3% in Q3. Since Q1 2015, the annual GDP growth rate is greater in India 
than in China.   South Africa reported a quarterly GDP growth rate of 0.2% for Q4 2015 
stable compared to Q3. The annual GDP growth rate declined to 0.3% in Q4 2015 down 
from 1.2% in Q3. According to IBGE (Instituto Brasileiro de Geografia e Estatistica), the 
economy in Brazil remained in a difficult situation with a contraction of 1.4% of its GDP 
growth rate for Q4 2015 following a contraction of 1.7% in Q3. The contraction of the annual 
GDP growth rate deepened to 5.9% in Q4 2015 from 4.5% in Q3. Russia’s GDP growth for 
Q4 2015 will be available later but in Q3, the economy slightly contracted by 0.6% following 
a more important contraction of 1.3% in Q2. Annual GDP growth was negative at -3.7% in 
Q3 2015, after -3.8% in Q2. 

European Union and euro area: GDP growth stable in Q4 2015 

The second estimate set at 0.3% the euro area quarterly GDP growth rate for Q4 2015, which 
was stable compared with Q3. The annual GDP growth rate of the euro area also remained 
stable at 1.6% in Q4 2015. In Q4 2015, all GDP expenditure components grew: private final 
consumption expenditures by 0.2%, government final consumption expenditure by 0.6%, 
gross fixed capital formation by 1.3%, exports by 0.2% and imports by 0.9%.

EU GDP also remained stable in Q4 2015 with a quarterly growth rate of 0.4%. The annual 
GDP growth rate decelerated to 1.8% in Q4 2015, down from 1.9% in Q3.

The flash estimate of the annual inflation rate turned negative (-0.2%) in February 2016 for 
the euro area, after a positive growth of 0.3% in January 2016. In February 2016 the annual 
inflation rate for energy deepened to -8.0% in the euro area from -5.4% in January.

Situation in the Member states: GDP growth sound in Estonia and in Sweden in Q4 
2015 

Sweden reported the highest quarterly GDP growth rate in Q4 2015 with 1.3%, up from 1.0% 
in Q3. The annual GDP growth rate accelerated to 4.5% in Q4 2015 (the highest among the 
Member States) after 4.2% in Q3. In Q4 2015, Estonia reported a quarterly GDP growth rate 
of 1.2%, which was a strong rebound following a contraction of 0.4% in Q3. The annual GDP 
growth rate was 0.9% in Q4 2015. In Q4 2015, the annual GDP growth rate was particularly 
high in the Czech Republic (4.0%), Slovakia (4.0%), Poland (3.7%) and Spain (3.5%). Greece 
was the only Member State to report a contraction of its GDP in Q4 2015, with a rate of 
-0.8%, though this was up from -1.7% in Q3.

  Eurostatistics — 03/2016 edition

5

1

Summary analysis

Latest 
macroeconomic 
developments
Evolution of GDP

Industrial 
production

Construction 
production

Retail trade

Steady growth of the euro area economy

Seasonally and calendar adjusted GDP rose by 0.3% in euro area (EA19) and by 0.4% in the 
EU28 during the fourth quarter of 2015, compared with the previous quarter, according to 
a second estimate published by Eurostat. In the third quarter of 2015, GDP grew by 0.3% 
and 0.4% respectively. Compared with the same quarter of the previous year, non seasonally 
adjusted GDP rose by 1.8% in the euro area and by 2% in the EU28 in the fourth quarter of 
2015, after 1.7% and 2% respectively in the previous quarter. 

In  December  2015  compared  with  November  2015,  seasonally  and  calendar  adjusted 
industrial production fell by 1.0% in both the euro area (EA19) and the EU28, according to 
estimates from Eurostat. In November 2015 industrial production fell by 0.5% in both zones. 
In December 2015 compared with December 2014, industrial production decreased by 1.3% 
in the euro area and by 0.8% in the EU28.

In  December  2015  compared  with  November  2015,  seasonally  and  calendar  adjusted 
production in the construction sector fell by 0.6% in the euro area (EA19) and by 0.1% in 
the  EU28,  according  to  first  estimates  from  Eurostat.  In  November  2015,  production  in 
construction  grew  by  0.9%  in  the  euro  area  and  by  0.7%  in  the  EU28.  In  December  2015 
compared with December 2014, production in construction fell by 0.4% in the euro area and 
grew by 1.4% in the EU28.

In January 2016 compared with December 2015, the seasonally and calendar adjusted volume 
of retail trade increased by 0.4% in the euro area (EA19) and by 0.8% in the EU28, according 
to estimates from Eurostat. In December retail trade rose by 0.6% in the euro area and by 
0.3% in the EU28. In January 2016 compared with January 2015 the calendar adjusted retail 
sales index increased by 2.0% in the euro area and by 2.8% in the EU28.

Inflation

Euro  area  annual  inflation  is  expected  to  be  -0.2%  in  February  2016,  down  from  0.3%  in 
January and 0.2% in December 2015, according to a flash estimate from Eurostat. In January 
2015 the rate was -0.6%. European Union annual inflation was also 0.3% in January 2016, up 
from 0.2% in December. A year earlier the rate was -0.5%.

Unemployment

Interest rates

Exchange rates

The euro area (EA19) seasonally-adjusted unemployment rate was 10.3% in January 2016, 
down from 10.4% in December 2015, and from 11.3% in January 2015. This is the lowest 
rate recorded in the euro area since August 2011. The EU28 unemployment rate was 8.9% in 
January 2016, down from 9.0% in December 2015, and from 9.8% in January 2015. This is the 
lowest rate recorded in the EU28 since May 2009. Eurostat estimates that 21.789 million men 
and women in the EU28, of whom 16.647 million were in the euro area, were unemployed 
in  January  2016.  Compared  with  December  2015,  the  number  of  persons  unemployed 
decreased by 163 000 in the EU28 and by 105 000 in the euro area. Compared with January 
2015, unemployment fell by 2.034 million in the EU28 and by 1.445 million in the euro area.

On 21 January 2016, The Governing Council of the European Central Bank decided to keep 
unchanged the interest rate on the main refinancing operations at 0.05%. ECB continues its 
efforts on the asset purchase program. On 16 December, 2015, the US Federal Reserve raised 
its rate to 0.5%. On 20 January 2016, the Bank of Japan decided to lower its key official rate 
at -0.1%. The UK’s official bank rate has been unchanged at 0.5% since March 2009. The euro 
area’s 3-month rate, Euribor, decreased to -0.18% in February, after -0.15% in January 2016 
and -0.13% in December 2015. Long-term interest rates (monthly average weighted 10-year 
government bond yield) of the euro area slightly decreased to 1.16% in January 2016, down 
from 1.21% in December 2015. The EU28 long-term interest rates slightly decreased to 1.42% 
in January 2016 from 1.47% in December 2015.

The euro / US dollar exchange rate (monthly average) increased to USD 1.1093 in February 
from  1.0860  in  January  2016  and  1.0877  in  December  2015.  The  euro  decreased  against 
the  Japanese  yen  in  Febuary  2016  with  an  exchange  rate  of  Yen  127.35  for  one  euro.  The 
euro increased against the Swiss Franc at SF 1.1018 in February 2016. The euro / UK Pound 
Sterling exchange rate increased to GBP 0.77559 in February from 0. 75459 in January 2016.

6

Eurostatistics — 03/2016 edition 

Summary analysis

1

Growth forecasts 
for the euro area

Weakening growth in a 
riskier context

The Eurogrowth Indicator expects the euro area growth to remain moderate during the first 
half of 2016 with a GDP growth at 0.3% both in the first and second quarters of 2016, the first 
quarter forecast being significantly revised downward by 0.2%. On a year-on-year basis, the 
growth rate is expected to decrease from 1.6% in 2015Q4 to 1.1% in 2016Q2.

The main factors behind this weaker momentum are the more pessimistic sentiment of the 
industrial sectors and the vanished positive effect of the depreciation of the euro against the 
dollar. In addition, the positive contribution of the construction survey remains fragile and 
will not last in the second quarter of 2016. Only the effect of consumer survey remains solidly 
positive. 

The Eurogrowth indicator has been overestimating the actual GDP growth in the last quarters.  
The growth rate forcasts do not expect any gain in momentum in the near future as the level 
of risk has risen. It mostly concerns the uncertainty emerging countries prospects, the fears 
of a financial crisis and the recent decline in the industrial sentiment indicator.

The  €-coin  indicator  remained  fairly  stable  at  high  levels  in  February  (0.47  compared 
with 0.48 in January) after three consecutive increases. The favourable contribution of the 
exchange rate was offset by the effects of the continuing weakness of price growth and by the 
unfavourable trends emerging from business and consumer surveys.

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 — 03/2016 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)

2015Q3

2015Q4

2016Q1

2016Q2

2015Q3

2015Q4

2016Q1

2016Q2

EUROSTAT release

EUROFRAME (*)

EuroCOIN

0.3

0.6

0.4

0.3

0.7

0.4

:

0.7

0.5

:

0.7

:

1.6

2.0

1.8

1.6

1.9

1.9

:

1.7

1.9

:

1.3

:

(*) The Euroframe data differs slighty from the original publication because it has been computed with the new ESA 2010  series, unlike the original data which considered 

ESA 1995 series.

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

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

% change over 
previous quarter

% change over 
previous year

0.7

0.6

0.5

0.4

0.3

0.2

0.1

0.0

2.4
2.2
2.0
1.8
1.6
1.4
1.2
1.0
0.8
0.6
0.4
0.2

GDP release

Euroframe

EuroCoin

GDP release

Euroframe

EuroCoin

8

Eurostatistics — 03/2016 edition 

Summary analysis

1

Cyclical indicators 
for the euro area

Strong decrease of 
the Business Climate 
Indicator in February

The Business Climate Indicator (BCI) for the euro area decreased markedly by 0.2 points 
to  0.07,  in  February  2016.  All  underlying  components  of  the  BCI,  except  for  managers’ 
appraisal of stocks of finished products, contributed to the decline. The worsening was most 
pronounced in managers’ appraisal of past production, total order books as well as their 
production expectations.

The  Composite  leading  indicators  (CLIs)  signs  of  easing  growth  in  the  OECD  area  as 
a  whole.  The  outlook  points  to  easing  growth  in  the  United  Kingdom,  the  United 
States,  Canada  and  Japan.  Similar  signs  are  also  emerging  in  Germany.  Stable  growth 
momentum is anticipated in Italy and in the Euro area as a whole. In France, and India, 
CLIs point to stabilising growth momentum. The outlook for China remains unchanged 
from  last  month’s  assessment,  pointing  to  tentative  signs  of  stabilisation,  while 
in Russia and Brazil the CLIs point to a loss in growth momentum.

The IFO Index for the economic climate in the euro area declined by another three index 
points in the first quarter of 2016. It dropped to 118.9 points, but still remains significantly 
above  its  long-term  average.  Assessments  of  the  current  economic  situation  were  only 
slightly less favourable than in the previous quarter, and positive expectations also clouded 
over somewhat. The recovery in the euro area economy is only expected to continue at a 
slow pace. 

Assessments of the current economic situation were most negative in Greece and Finland, 
but the current economic situation also remains strained in France, Italy and Cyprus. The 
situation was only slightly better in Spain, Portugal and Austria; but assessments for Austria 
were far less negative than last quarter. The sharpest recovery was seen in Ireland, where 
survey participants assessed the current economic situation as very good. In Germany the 
economic  situation  is  considered  to  be  good,  although  assessments  were  somewhat  less 
favourable than last quarter. In all other euro countries WES experts deemed the current 
economic situation to be satisfactory. 

The  six-month  economic  outlook  remains  positive  nearly  everywhere.  Economic 
expectations  brightened  in  Austria,  France,  the  Netherlands,  Estonia  and  Latvia.  In  the 
other countries the outlook either remains unchanged, or is somewhat less positive. WES 
experts were only slight pessimistic about Greece, Portugal and Spain. 

For 2016 experts expect the average inflation rate to increase to 1.0 percent in the euro area. 
In the midterm (2021) average inflation expectations will remain unchanged at 1.9 percent. 

Despite the fact that the US dollar is still considered to be slightly overvalued against the 
euro, WES experts expect the dollar to continue to appreciate over the next six months.

The DZ BANK Euro-Indicator fell by 0.6 points in February 2016, to a level of 98.0 points 
from 98.6 in January. On year-to-year basis, its growth has fallen from 1.8% in January to 
0.6% in February. 

The IARC turning point indicator acted a trough in the growth cycle in May. In February, 
the indicator remains well over 80%, at 98%, after 95% in January, continuing to announce 
the eminence of a peak. 

The start-end recession indicator (IESR) remains stable near 0, at 1%, confirming there 
is no sign of recession in the euro area. The current level of the indicator follows the trend 
embarked on at the end of 2013, after an exit of recession of the euro area mid-2013.

  Eurostatistics — 03/2016 edition

9

1

Summary analysis

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

2015M10

2015M11

2015M12

2016M1

2016M2

OECD-CLI

DZ-Euroland indicator

Index

Index

DG ECFIN Business Climate Indicator Points of std-dev.

100.6

98.4

0.43

100.6

98.7

0.36

100.6

98.9

0.39

100.5

98.6

0.29

:

98.6

0.07

IFO

129.2

124

122

118.9

2015Q2

2015Q3

2015Q4

2016Q1

DZ-Euroland and IFO Business climate Indicators

DG-ECFIN Business climate Indicator

% change over 
previous year

Index 2005=100

In %

In %

6

4

2

0

-2

-4

-6

-8

-10

-12

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

DZ-Euroland-Indicator (left-hand scale)

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

IFO Indicator (right-hand scale)

OECD Leading Indicator

140

130

120

110

100

90

80

70

60

50

10

5

0

-5

-10

-15
15

-20

-25

2

1

0

-1

-2

-3
3

-4

-5

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

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

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

104

102

100

98

96

T

June
2003

P

Feb
2008

T

June
2009

P

May
2011

T

March
2013

T: trough / P: peak
in the reference series

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

Detrended GDP

OECD indicator

10

Eurostatistics — 03/2016 edition 

Summary analysis

1

Turning point indicators for the euro area

2015M9

2015M10

2015M11

2015M12

2015M1

2015M2

IARC

IESR

Probability index

Probability index

84.0

0.0

87.2

0.0

89.9

0.0

91.4

0.0

94.7

0.0

98.5

:

IARC indicator

100

90

80

70

60

50

40

30

20
20

10

0

Probability for a peak

Probability for a trough

Probability for a 
peak

4
1
-
r
r
p
A

4
1
-
y
y
a
M

4
1
-
n
n
u
J

4
1
-
l
l
u
J

4
1
-
g
g
u
A

4
1
-
p
p
e
S

4
1
-
t
t
c
O

4
1
-
v
v
o
N

4
1
-
c
c
e
D

5
1
-
n
n
a
J

5
1
-
b
b
e
F

5
1
-
r
r
a
M

5
1
-
r
r
p
A

5
1
-
y
y
a
M

5
1
-
n
n
u
J

5
1
-
l
l
u
J

5
1
-
g
g
u
A

5
1
-
p
p
e
S

5
1
-
t
t
c
O

5
1
-
v
v
o
N

5
1
-
c
c
e
D

6
1
-
n
n
a
J

6
1
-
b
b
e
F

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

y

IESR indicator

1.0

0.5

0.0

4
1
-
g
u
A

4
1
-
p
e
S

4
1
-
t
c
O

4
1
-
v
o
N

4
1
-
c
e
D

5
1
-
n
a
J

5
1
-
b
e
F

5
1
-
r
a
M

5
1
-
r
p
A

5
1
-
y
a
M

5
1
-
n
u
J

5
1
-
l
u
J

5
1
-
g
u
A

5
1
-
p
e
S

5
1
-
t
c
O

5
1
-
v
o
N

5
1
-
c
e
D

6
1
-
n
a
J

  Eurostatistics — 03/2016 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 
and calendar adjusted, reference year 2010 (at 2010 exchange rates), ESA 2010.

EA GDP, trend and cycle with HP filter

EU28 GDP, trend and cycle with HP filter

(GDP, Trend)
2500000

2300000

2100000

1900000

1700000

1500000

(Cycle)
120000

(GDP, Trend)
3250000

80000

3000000

40000

2750000

0

2500000

-40000

2250000

-80000

2000000

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
3
1
0
2

1
Q
4
1
0
2

1
Q
5
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

1
Q
3
1
0
2

1
Q
4
1
0
2

1
Q
5
1
0
2

GDP

Trend 

Cycle

GDP

Trend 

Cycle

EA GDP, trend and cycle with CF filter
(GDP, Trend)
2500000

EU28 GDP, trend and cycle with CF filter
(GDP, Trend)
3250000

(Cycle)
120000

2300000

2100000

1900000

1700000

1500000

80000

3000000

40000

2750000

0

2500000

-40000

2250000

-80000

2000000

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
3
1
0
2

1
Q
4
1
0
2

1
Q
5
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

1
Q
3
1
0
2

1
Q
4
1
0
2

1
Q
5
1
0
2

GDP

Trend 

Cycle

GDP

Trend 

Cycle

EA GDP, trend and cycle with UC filter
(GDP, Trend)
2500000

EU28 GDP, trend and cycle with UC filter
(GDP, Trend)
3250000

(Cycle)
120000

2300000

2100000

1900000

1700000

1500000

80000

3000000

40000

2750000

0

2500000

-40000

2250000

-80000

2000000

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
3
1
0
2

1
Q
4
1
0
2

1
Q
5
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

1
Q
3
1
0
2

1
Q
4
1
0
2

1
Q
5
1
0
2

GDP

Trend 

Cycle

GDP

Trend 

Cycle

12

Eurostatistics — 03/2016 edition 

(Cycle)
150000

100000

50000

0

-50000

-100000

(Cycle)
150000

100000

50000

0

-50000

-100000

-150000

(Cycle)
150000

100000

50000

0

-50000

-100000

Summary analysis

1

The estimation is based on monthly industrial production index (excluding construc-
tion), seasonally-adjusted volumes (year 2010=100).

Industrial production cycle

EA IPI,trend and cycle with HP filter

EU28 IPI, trend and cycle with HP filter

(IPI, Trend)

120

115

110

105

100

95

90

85

80

75

(Cycle)
12

9

6

3

0

-3

-6

-9

-12

-15

(IPI, Trend)

120

115

110

105

100

95

90

85

80

75

1
M
1
9
9
1

1
M
3
9
9
1

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
M
3
1
0
2

1
M
5
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

1
M
3
1
0
2

1
M
5
1
0
2

IPI

Trend 

Cycle

IPI

Trend 

Cycle

EA IPI, trend and cycle with CF filter

(IPI, Trend)
120

115

110

105

100

95

90

85

80

75

EU28 IPI, trend and cycle with CF filter
(IPI, Trend)
120

(Cycle)
12

9

6

3

0

-3

-6

-9

-12

-15

115

110

105

100

95

90

85

80

75

1
M
1
9
9
1

1
M
3
9
9
1

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
M
3
1
0
2

1
M
5
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

1
M
3
1
0
2

1
M
5
1
0
2

IPI

Trend 

Cycle

IPI

Trend 

Cycle

EA IPI, trend and cycle with UC filter

(IPI, Trend)

120

115

110

105

100

95

90

85

80

75

(Cycle)
12

9

6

3

0

-3

-6

-9

-12

-15

1
M
1
9
9
1

1
M
3
9
9
1

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
M
3
1
0
2

1
M
5
1
0
2

EU28 IPI, trend and cycle with UC filter
(IPI, Trend)

120

115

110

105

100

95

90

85

80

75

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
M
3
1
0
2

1
M
5
1
0
2

(Cycle)
12

9

6

3

0

-3

-6

-9

-12

-15

(Cycle)
12

9

6

3

0

-3

-6

-9

-12

-15

(Cycle)
12

9

6

3

0

-3

-6

-9

-12

-15

IPI

Trend 

Cycle

IPI

Trend 

Cycle

  Eurostatistics — 03/2016 edition

13

1

Summary analysis

Employment cycle

The estimation is based on total employment (domestic concept) series, seasonally and cal-
endar adjusted (in thousand of persons), ESA2010.

EA Employment, trend and cycle with HP filter

EU28 Employment, trend and cycle with HP filter

(Employment, 
Trend)
155000

150000

145000

140000

135000
135000

130000

125000

(Cycle)

8000

6000

4000

2000

(Employment, 
Trend)
235000

230000

225000

220000

0
0

215000
215000

-2000

210000

-4000

205000

(Cycle)

8000

6000

4000

2000

0
0

-2000

-4000

2
Q
0
0
0
2

2
Q
1
0
0
2

2
Q
2
0
0
2

2
Q
3
0
0
2

2
Q
4
0
0
2

2
Q
5
0
0
2

2
Q
6
0
0
2

2
Q
7
0
0
2

2
Q
8
0
0
2

2
Q
9
0
0
2

2
Q
0
1
0
2

2
Q
1
1
0
2

2
Q
2
1
0
2

2
Q
3
1
0
2

2
Q
4
1
0
2

2
Q
5
1
0
2

2
Q
0
0
0
2

2
Q
1
0
0
2

2
Q
2
0
0
2

2
Q
3
0
0
2

2
Q
4
0
0
2

2
Q
5
0
0
2

2
Q
6
0
0
2

2
Q
7
0
0
2

2
Q
8
0
0
2

2
Q
9
0
0
2

2
Q
0
1
0
2

2
Q
1
1
0
2

2
Q
2
1
0
2

2
Q
3
1
0
2

2
Q
4
1
0
2

2
Q
5
1
0
2

EA Employment, trend and cycle with CF filter

EU28 Employment, trend and cycle with CF filter

Employment 129596.97
Trend  129596.97

Employment 213479.07
Cycle 0

Trend  213479.07

(Employment, 
Trend)
155000

150000

145000

140000

135000

130000

125000

(Cycle)

8000

(Employment, 
Trend)
235000

6000

230000

4000

225000

2000

220000

0

215000

-2000

210000

-4000

205000

(Cycle)

8000

6000

4000

2000

0

-2000

-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
3
1
0
2

1
Q
4
1
0
2

1
Q
5
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

1
Q
3
1
0
2

1
Q
4
1
0
2

1
Q
5
1
0
2

Employment

Trend 

Cycle

Employment

Trend 

Cycle

EA Employment, trend and cycle with UC filter

EU28 Employment, trend and cycle with UC filter

(Employment, 
Trend)
155000

150000

145000

140000

135000
135000

130000

125000

(Cycle)

8000

(Employment, 
Trend)
235000

6000

4000

2000

230000

225000

220000

0
0

215000
215000

-2000

210000

-4000

205000

(Cycle)

8000

6000

4000

2000

0
0

-2000

-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
3
1
0
2

1
Q
4
1
0
2

1
Q
5
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

1
Q
3
1
0
2

1
Q
4
1
0
2

1
Q
5
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 — 03/2016 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. 

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 each month by the French institute ACE - Analyzing Cycles in Economies. 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).

IESR: prepared each month by the French institute ACE - Analyzing Cycles in Economies. 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).

  Eurostatistics — 03/2016 edition

15

1

Summary analysis

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

16

Eurostatistics — 03/2016 edition 

Section II

Principal European Economic 
Indicators (PEEIs)

2

Principal European Economic Indicators (PEEIs)

Detailed PEEIs analysis for European Union (EU28)

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)

2014Q4
0.5

2015Q1
0.6

2015Q2
0.5

2015Q3
0.4

2015Q4
0.4

0.6

0.5

0.6

1.4

0.4

0.5

0.6

0.4

0.4

1.1

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2014Q4
1.2

2015Q1
1.7

2015Q2
1.9

2015Q3
2.0

2015Q4
2.0

1.4

2.2

2.1

3.1

1.9

3.5

2.2

2.9

2.0

3.6

External trade balance 
(extra EU28) (2)

BOP Current account  
(extra EU28)

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

mn euro

2987.1

6047.9

6415.6

4312.0

6453.7

5933.0

5193.5

2952.1

5664.7

11643.3

:

:

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

mn euro

53044.7

30376.6

29660.8

45584.6

49584.1

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

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

2015M03
0.9
-0.1
0.3
-2.9

2015M04
0.3
0.0
0.0
-2.7

2015M05
0.2
0.3
0.1
-2.5

2015M06
0.0
0.1
0.0
-2.7

2015M07
-0.5
0.2
-0.3
-2.7

2015M08
0.0
0.0
-0.9
-3.4

2015M09
0.1
-0.1
-0.3
-3.8

2015M10
0.1
0.0
-0.3
-3.6

2015M11
-0.1
0.1
-0.2
-3.5

2015M12
0.0
0.2
-0.8
-3.2

2016M01
-1.2
0.3
-1.0
-2.9

2016M02
:
:
:
:

Unemployment rate -  total (2)
Unemployment rate -  
age <25 year (2)
Unemployment rate -  
age >25 year (2)

%

%

%

Labour Cost Index 

Employment

Industrial production

Production in construction

Retail trade deflated turnover

Q/Q-1 % (1)

Q/Q-1 % (1)

M/M-1 % (1)
M/M-12 % (3)
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %

2015M03
9.7

2015M04
9.6

2015M05
9.6

2015M06
9.5

2015M07
9.4

2015M08
9.3

2015M09
9.2

2015M10
9.1

2015M11
9.0

2015M12
9.0

2016M01
8.9

2016M02
:

20.9

8.5

2014Q4
0.5
2014Q4
0.2

2015M03
-0.1
2.3
1.5
0.8
-0.1
2.8

20.7

8.5

2015Q1
0.8
2015Q1
0.4

2015M04
0.0
1.1
-0.7
1.0
0.4
2.8

20.6

8.4

2015Q2
0.3
2015Q2
0.3

2015M05
0.0
2.1
-0.5
1.7
0.3
3.3

20.6

8.4

2015Q3
0.3
2015Q3
0.4

2015M06
-0.1
2.1
-0.1
1.1
0.1
2.9

20.2

8.2

2015Q4
:
2015Q4
:

2015M07
0.4
1.9
0.2
0.8
0.4
4.0

20.2

8.2

20.0

8.1

Q/Q-4 % (3)

Q/Q-4 %

2015M09
0.0
1.8
-0.2
0.3
0.3
4.0

2015M08
-0.3
2.5
-0.5
-0.6
0.0
2.8

20.0

8.0

2014Q4
1.5
2014Q4
1.2

2015M10
0.7
2.5
0.2
0.6
0.0
3.0

19.8

7.9

2015Q1
2.3
2015Q1
1.1

2015M11
-0.5
1.6
0.7
0.9
0.4
2.8

19.8

7.9

2015Q2
1.9
2015Q2
1.0

2015M12
-1.0
-0.8
-0.1
1.4
0.3
2.6

19.7

7.8

2015Q3
1.8
2015Q3
1.1

2016M01
:
:
:
:
0.8
2.8

:

:

2015Q4
:
2015Q4
:

2016M02
:
:
:
:
:
:

General government deficit (-) 
/surplus (+)

%

General government gross debt %

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

-2.8

86.8

-3.0

88.1

-2.1

87.7

-2.2

86.0

:

:

Economic sentiment indicator (2) 

index

105.6

106.0

106.0

105.1

106.1

106.5

107.2

107.4

107.2

108.5

106.7

105.2

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

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

%

%

Average

2015M03
-

2015M04
-

2015M05
-

2015M06
-

2015M07
-

2015M08
-

2015M09
-

2015M10
-

2015M11
-

2015M12
-

2016M01
-

2016M02
-

1.13

-

1.14

-

1.53

-

1.82

-

1.60

-

1.59

-

1.58

-

1.43

-

1.43

-

1.47

-

1.42

-

:

-

(1)  sca: Seasonally and calendar adjusted data
(2)  sa: Seasonally adjusted data
(3)  ca: Calendar adjusted data, not seasonally adjusted data 
« : » 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)

18

Eurostatistics — 03/2016 edition 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2

European Union (EU28)

Graph 1: Output

Growth rate

4.0

3.0

2.0

1.0

0.0

-1.0

-2.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

GDP (q/q-1)

GDP (q/q-4)

Industrial Production (m/m-1)

Industrial Production (m/m-12)

Economic Sentiment Indicator

Graph 3: Labour

%

10.2

9.8

9.4

9.0

8.6

Index

115.0

110.0

105.0

100.0

95.0

90.0

85.0

Growth rate 
3.0

2.0

1.0

0.0

-1.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

Employment (q/q-1)

Employment (q/q-4)

Labour cost index  (q/q-1)

Labour cost index  (q/q-4)

Unemployment rate Total (%)

Graph 2: Demand

Growth rate
(PFC,I)

5.0

4.0

3.0

2.0

1.0

0.0

-1.0

Growth rate
(RT)

5.0

4.0

3.0

2.0

1.0

0.0

-1.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

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

1.0

0.0

-1.0

-2.0

3.0
-3.0

-4.0

-5.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

HICP (m/m-12)

HICP (m/m-1)

Industrial producer prices (m/m-12)

Industrial producer prices (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

millions  euro

60000

50000

40000

30000

20000

10000

0

%

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

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

External trade balance (1)  

BOP current account (2)

Long-term government bond yields - rates

Euro-dollar exchange rate

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

  Eurostatistics — 03/2016 edition

19

2

Principal European Economic Indicators (PEEIs)

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)

2014Q4
0.4

2015Q1
0.6

2015Q2
0.4

2015Q3
0.3

2015Q4
0.3

0.5

0.5

0.5

1.4

0.3

0.1

0.5

0.4

0.2

1.3

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2014Q4
0.9

2015Q1
1.4

2015Q2
1.7

2015Q3
1.7

2015Q4
1.8

1.1

1.1

1.8

2.1

1.6

2.7

1.9

2.6

1.5

3.5

External trade balance 
(extra euro area)(2)

BOP Current account 
(extra euro area)

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

mn euro

17615.9

19731.8

21087.7

19306.3

22422.4

19304.6

19788.1

19840.8

22574.9

20967.1

:

:

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

mn euro

31183.0

24020.0

7803.0

34593.0

38756.0

17722.0

34183.0

27547.0

30290.0

41384.0

:

:

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

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

2015M03
1.1
-0.1
0.2
-2.3

2015M04
0.2
0.0
0.0
-2.1

2015M05
0.2
0.3
0.0
-2.0

2015M06
0.0
0.2
0.0
-2.1

2015M07
-0.6
0.2
-0.2
-2.1

2015M08
0.0
0.1
-0.8
-2.6

2015M09
0.2
-0.1
-0.4
-3.2

2015M10
0.1
0.1
-0.3
-3.2

2015M11
-0.1
0.1
-0.2
-3.2

2015M12
0.0
0.2
-0.8
-3.0

2016M01
-1.4
0.3
-1.0
-2.9

2016M02
0.1
-0.2
:
:

Unemployment rate -  total (2)
Unemployment rate -  
age <25 year (2)
Unemployment rate -  
age >25 year (2)

%

%

%

Labour Cost Index

Employment

Industrial production

Production in construction

Retail trade deflated turnover

Q/Q-1 % (1)

Q/Q-1 % (1)

M/M-1 % (1)
M/M-12 % (3)
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %

2015M03
11.2

2015M04
11.1

2015M05
11.0

2015M06
11.0

2015M07
10.8

2015M08
10.7

2015M09
10.6

2015M10
10.6

2015M11
10.5

2015M12
10.4

2016M01
10.3

2016M02
:

22.7

10.0

2014Q4
0.3
2014Q4
0.2

2015M03
-0.5
2.1
0.5
-2.4
-0.2
1.9

22.5

9.9

2015Q1
0.6
2015Q1
0.2

2015M04
0.0
0.7
-0.4
-1.6
0.4
2.5

22.4

9.9

2015Q2
0.3
2015Q2
0.4

2015M05
-0.1
1.7
0.2
0.0
0.3
2.7

22.5

9.9

2015Q3
-0.1
2015Q3
0.3

2015M06
-0.3
1.5
-0.8
-1.4
0.0
2.2

22.2

9.7

2015Q4
:
2015Q4
:

2015M07
0.8
1.8
0.0
-0.9
0.5
3.5

22.4

9.6

22.3

9.5

Q/Q-4 % (3)

Q/Q-4 %

2015M09
-0.2
1.4
-0.8
-0.5
-0.1
3.3

2015M08
-0.5
2.3
0.5
-2.1
0.1
2.7

22.3

9.4

2014Q4
1.2
2014Q4
0.9

2015M10
0.9
2.1
0.5
0.1
-0.2
2.3

22.1

9.4

2015Q1
1.9
2015Q1
0.9

2015M11
-0.5
1.4
0.9
0.3
0.1
1.7

22.1

9.3

2015Q2
1.6
2015Q2
1.0

2015M12
-1.0
-1.3
-0.6
-0.4
0.6
2.1

22.0

9.3

2015Q3
1.1
2015Q3
1.1

2016M01
:
:
:
:
0.4
2.0

:

:

2015Q4
:
2015Q4
:

2016M02
:
:
:
:
:
:

General government deficit (-)/ 
surplus (+)

%

General government gross debt %

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

-1.7

92.1

-3.7

92.9

-1.5

92.3

-1.8

91.6

:

:

Economic sentiment indicator (2) 

index

103.9

103.8

103.8

103.4

103.9

104.0

105.5

106.1

106.0

106.7

105.1

103.8

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

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

%

%

Average

2015M03
0.03

2015M04
0.00

2015M05
-0.01

2015M06
-0.01

2015M07
-0.02

2015M08
-0.03

2015M09
-0.04

2015M10
-0.05

2015M11
-0.09

2015M12
-0.13

2016M01
-0.15

2016M02
-0.18

0.89

1.08

0.89

1.08

1.30

1.12

1.63

1.12

1.32

1.10

1.38

1.11

1.38

1.12

1.20

1.12

1.17

1.07

1.21

1.09

1.16

1.09

:

1.11

(1)  sca: Seasonally and calendar adjusted data
(2)  sa: Seasonally adjusted data
(3)  ca: Calendar adjusted data, not seasonally adjusted data 
« : » not available data; « - » not existing data
* Data refer to the EA-19 aggregate (euro area with 19 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 31/12/2013, euro area with 18 Member States from 01/01/2014 till 31/12/2014, euro area with 19 Member States from 01/01/2014 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)

20

Eurostatistics — 03/2016 edition 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
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

-3.0

Index

115.0

110.0

105.0

100.0

95.0

90.0

85.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

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

Growth rate 
3.0

2.0

1.0

0.0

-1.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

Employment (q/q-1)

Employment (q/q-4)

Labour cost index  (q/q-1)

Labour cost index  (q/q-4)

Unemployment rate Total (%)

Graph 2: Demand

Growth rate
(PFC,I)

4.0

3.0

2.0

1.0

0.0

-1.0

Growth rate
(RT)

4.0

3.0

2.0

1.0

0.0

-1.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

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

1.5

1.0

0.5

0.0

-0.5

-1.0

-1.5

-2.0
2 0

-2.5

-3.0

-3.5

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

Industrial producer prices (m/m-12)

Industrial producer prices (m/m-1)

HICP (m/m-12)

HICP (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

millions  euro

45000

40000

35000

30000

25000

20000

15000

10000

5000

0

%

5.0

4.0

3.0

2.0

1.0

0.0

-1.0

€/$

1.6

1.4

1.2

1

0.8

0.6

0.4

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

External trade balance  

BOP current account 

3-month interest rates

Long-term government bond yields - rates

Euro-dollar exchange rate

  Eurostatistics — 03/2016 edition

21

2

Principal European Economic Indicators (PEEIs)

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)

2014Q4
0.3

2015Q1
0.3

0.1

-4.9

0.7

9.5

2015Q2
0.5

0.6

-10.0

2015Q3
0.2

2015Q4
0.3

-0.2

0.8

0.4

0.9

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2014Q4
1.2

2015Q1
1.2

2015Q2
1.5

2015Q3
1.3

2015Q4
1.4

0.3

6.2

1.1

13.4

1.4

0.6

1.2

-5.1

1.6

0.6

External trade balance 
(extra euro area) (2)
External trade balance  
(extra EU28) (2)

BOP Current account 
(All countries of the world)

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

mn euro

-1193.1

-714.7

-281.4

-281.5

-459.9

-386.8

-793.5

-399.1

-284.4

-504.6

mn euro

-2928.2

-2188.7

-1802.6

-2040.8

-2123.2

-2038.4

-2354.4

-1975.1

-1900.1

-2423.0

:

:

:

:

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

mn euro

1559.0

-2408.0

1342.0

262.0

:

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

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

2015M03
0.3
-0.1
1.7
-4.6

2015M04
0.3
0.4
-0.3
-3.4

2015M05
0.3
0.8
0.8
-2.4

2015M06
0.2
0.9
-0.4
-3.0

2015M07
-1.3
0.9
-1.0
-3.1

2015M08
1.3
0.8
-1.2
-3.9

2015M09
-0.2
0.9
0.5
-3.5

2015M10
0.3
1.2
-0.3
-4.2

2015M11
0.1
1.4
-0.4
-3.7

2015M12
0.0
1.5
-2.0
-3.0

2016M01
-1.7
1.8
-2.7
-3.8

2016M02
:
:
:
:

Unemployment rate -  total (2)
Unemployment rate -  
age <25 year (2)
Unemployment rate -  
age >25 year (2)

%

%

%

Labour Cost Index

Employment

Industrial production

Production in construction

Retail trade deflated turnover

Q/Q-1 % (1)

Q/Q-1 % (1)

M/M-1 % (1)
M/M-12 % (3)
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %

2015M03
8.7

2015M04
8.8

2015M05
8.7

2015M06
8.6

2015M07
8.3

2015M08
8.1

2015M09
7.9

2015M10
7.8

2015M11
7.9

2015M12
7.9

2016M01
7.9

2016M02
:

21.4

7.6

2014Q4
0.1
2014Q4
0.2

2015M03
3.1
2.1
0.3
1.3
-0.5
-1.2

22.1

7.6

2015Q1
-0.2
2015Q1
0.1

2015M04
-0.8
-0.7
-2.0
-5.4
0.8
0.7

22.5

7.5

2015Q2
0.1
2015Q2
0.3

2015M05
0.3
0.4
1.1
2.6
0.6
-1.3

22.7

7.4

2015Q3
0.1
2015Q3
0.3

2015M06
-2.3
-4.5
-0.5
-1.3
0.7
1.6

21.6

7.1

2015Q4
:
2015Q4
0.2

2015M07
2.0
0.4
0.2
-1.8
-0.2
1.9

21.2

7.0

21.2

6.8

Q/Q-4 % (3)

Q/Q-4 %

2015M09
0.1
-1.1
-1.1
-3.6
-1.3
0.2

2015M08
-0.1
1.5
-0.3
1.1
-0.9
-1.5

21.6

6.7

2014Q4
0.6
2014Q4
0.6

2015M10
0.9
1.4
0.8
0.5
0.1
-1.3

22.3

6.6

2015Q1
0.2
2015Q1
0.7

2015M11
2.2
2.6
-2.1
-7.3
-0.7
-2.2

22.8

6.6

2015Q2
0.1
2015Q2
0.8

2015M12
-4.0
-0.8
-0.1
-6.8
0.5
-1.0

22.6

6.6

2015Q3
0.1
2015Q3
0.9

2016M01
:
:
:
:
-0.1
-2.2

:

:

2015Q4
:
2015Q4
1.0

2016M02
:
:
:
:
:
:

General government deficit (-)/ 
surplus (+)

%

2.8

-9.9

1.0

-6.5

General government gross debt %

106.7

110.9

109.3

108.7

:

:

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

Economic sentiment indicator (2)

index

99.5

102.0

103.1

103.3

101.7

104.1

98.9

101.7

103.5

104.5

102.0

99.6

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

3-month interest rate
Long term government  
bond yields 

%

%

2015M03
-

2015M04
-

2015M05
-

2015M06
-

2015M07
-

2015M08
-

2015M09
-

2015M10
-

2015M11
-

2015M12
-

2016M01
-

2016M02
-

0.49

0.42

0.86

1.21

1.15

1.00

1.01

0.85

0.84

0.89

0.86

:

(1)  sca: Seasonally and calendar adjusted data
(2)  sa: Seasonally adjusted data
(3)  ca: Calendar adjusted data, not seasonally adjusted data 
« : » 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)

22

Eurostatistics — 03/2016 edition 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2

Belgium

Graph 1: Output

Growth rate

6.0

4.0

2.0

0.0

-2.0
2 0

-4.0

-6.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

Graph 2: Demand

Growth Rate (PFC, 
I)

10.0

5.0

0.0

-5.0

-10.0

-15.0

Growth Rate (RT)

3.0

2.0

1.0

0.0

-1.0

-2.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

Index

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

%
8.9

8.5

8.1

7.7

7.3

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

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

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

4000

2000

0

-2000

-4000

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

External trade balance  

BOP current account 

%

4.0

3.0

2.0

1.0

0.0

€/$

1.800

1.600

1.400

1.200

1.000

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

Long-term government bond yields - rates

Euro-dollar exchange rate

  Eurostatistics — 03/2016 edition

23

2

Principal European Economic Indicators (PEEIs)

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)

2014Q4
0.6

2015Q1
0.9

2015Q2
0.6

2015Q3
0.7

2015Q4
:

0.1

-0.9

-0.2

-0.4

0.3

0.4

1.0

0.6

:

:

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2014Q4
2.4

2015Q1
3.3

2015Q2
2.8

2015Q3
3.0

2015Q4
:

3.2

0.1

-1.0

-3.6

-0.7

0.6

2.1

3.2

:

:

External trade balance 
(extra EU28) (2)

BOP Current account 
(All countries of the world)

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

mn euro

-71.1

-55.6

-55.2

-93.5

-112.4

-115.3

-92.9

-120.1

-95.4

-40.9

:

:

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

mn euro

-533.7

131.5

-155.7

1156.6

:

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

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

2015M03
0.3
-1.1
0.6
-0.4

2015M04
0.5
-0.9
-0.4
-0.6

2015M05
0.0
-0.3
0.3
-0.4

2015M06
-0.5
-0.6
0.2
-0.3

2015M07
0.2
-1.0
-0.5
-0.7

2015M08
0.1
-0.8
-1.3
-1.8

2015M09
-0.8
-1.0
-0.1
-2.1

2015M10
-0.2
-1.2
-0.6
-3.9

2015M11
-0.3
-0.9
-0.6
-3.8

2015M12
0.4
-0.9
-0.5
-3.2

2016M01
-0.1
-0.3
-0.7
-2.9

2016M02
:
:
:
:

Unemployment rate -  total (2)
Unemployment rate -  
age <25 year (2)
Unemployment rate -  
age >25 year (12

%

%

%

Labour Cost Index

Employment

Industrial production

Production in construction

Retail trade deflated turnover

Q/Q-1 % (1)

Q/Q-1 % (1)

M/M-1 % (1)
M/M-12 % (3)
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %

2015M03
10.0

2015M04
10.0

2015M05
9.9

2015M06
9.6

2015M07
9.2

2015M08
9.0

2015M09
8.7

2015M10
8.7

2015M11
8.8

2015M12
8.8

2016M01
8.6

2016M02
:

22.6

9.2

2014Q4
2.4
2014Q4
0.0

2015M03
-1.4
2.7
-0.2
-1.3
-0.4
1.0

22.3

9.3

2015Q1
2.1
2015Q1
0.1

2015M04
0.4
1.7
-1.5
-1.1
0.2
1.1

22.0

9.2

2015Q2
1.5
2015Q2
0.0

2015M05
0.7
3.9
-1.1
-7.0
-0.1
0.6

21.7

8.9

2015Q3
1.1
2015Q3
0.0

2015M06
0.6
5.8
3.2
1.8
0.2
1.2

21.3

8.5

2015Q4
:
2015Q4
:

2015M07
-0.8
3.4
-0.5
-0.5
-0.1
-0.1

21.1

8.3

20.5

8.0

Q/Q-4 % (3)

Q/Q-4 %

2015M09
-0.8
0.8
-0.8
-3.0
0.1
-1.8

2015M08
-0.2
4.3
-1.3
-0.3
-0.2
-2.1

20.9

8.0

2014Q4
6.8
2014Q4
0.1

2015M10
0.3
1.2
0.3
-4.7
0.2
-0.5

21.0

8.1

2015Q1
7.0
2015Q1
0.8

2015M11
1.2
2.3
1.2
-0.5
0.2
0.9

21.1

8.1

2015Q2
6.8
2015Q2
0.2

2015M12
0.5
1.6
0.0
0.7
0.2
1.7

21.3

7.9

2015Q3
7.4
2015Q3
0.2

2016M01
:
:
:
:
0.0
1.3

:

:

2015Q4
:
2015Q4
:

2016M02
:
:
:
:
:
:

General government deficit (-)/ 
surplus (+)

%

General government gross debt %

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

-16.0

27.0

4.0

28.8

2.1

28.2

-0.3

26.9

:

:

Economic sentiment indicator (2) 

index

101.1

102.9

103.9

103.9

103.4

105.1

104.3

105.1

105.2

105.8

105.0

104.8

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

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

%

%

Average

2015M03
0.57

2015M04
0.56

2015M05
0.55

2015M06
0.54

2015M07
0.52

2015M08
0.51

2015M09
0.52

2015M10
0.51

2015M11
0.49

2015M12
0.47

2016M01
0.28

2016M02
:

2.49

1.96

2.36

1.96

2.36

1.96

2.36

1.96

2.36

1.96

2.36

1.96

2.36

1.96

2.36

1.96

2.99

1.96

2.43

1.96

2.44

1.96

:

1.96

(1)  sca: Seasonally and calendar adjusted data
(2)  sa: Seasonally adjusted data
(3)  ca: Calendar adjusted data, not seasonally adjusted data 
« : » 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)

24

Eurostatistics — 03/2016 edition 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2

Bulgaria

Graph 1: Output

Growth rate

4.0

2.0

0.0

-2.0

-4.0

-6.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

Graph 2: Demand

Growth Rate (PFC, 
I)

3.0

2.0

1.0

0.0

-1.0

-2.0

Growth Rate (RT)

3.0

2.0

1.0

0.0

-1.0

-2.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

Index

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

%
11.0

10.5

10.0

9.5

9.0

8.5

Growth Rate 

6.0

4.0

2.0

0.0

-2.0

-4.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

Employment (q/q-1)

Labour cost index  (q/q-1)

Unemployment rate Total (%)

Graph  4: Prices

Growth Rate
1.0

0.5

0.0

-0.5

-1.0

-1.5

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

HICP (m/m-1)

Industrial producer prices (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

millions  euro

1400

1200

1000

800

600

400

200

0

-200

-400

%

5.0

4.0

3.0

2.0

1.0

0.0

Bulgarian Lev/€

1.970

1.960

1.950

1.940

1.930

1.920

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

External trade balance  

BOP current account 

3-month interest rates

Long-term government bond yields - rates

Bulgarian Lev exchange rates against the euro 

  Eurostatistics — 03/2016 edition

25

2

Principal European Economic Indicators (PEEIs)

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)

2014Q4
0.5

2015Q1
2.4

2015Q2
1.0

2015Q3
0.7

2015Q4
0.0

1.0

0.8

1.1

1.9

0.4

5.4

0.4

1.3

0.9

-0.9

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2014Q4
1.0

2015Q1
4.0

2015Q2
4.5

2015Q3
4.1

2015Q4
4.2

1.8

1.1

2.7

3.5

2.8

8.7

2.7

8.0

3.0

8.5

External trade balance 
(extra EU28) (2)

BOP Current account 
(All countries of the world)

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

mn euro

-401.7

-234.9

-240.3

-361.7

-585.7

-343.2

-701.3

-501.9

-488.9

-542.7

:

:

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

mn euro

182.6

3356.8

-533.3

-1081.6

:

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

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

2015M03
0.2
0.1
0.5
-3.0

2015M04
0.4
0.5
0.4
-2.6

2015M05
0.3
0.7
0.5
-2.1

2015M06
0.2
0.9
-0.2
-2.3

2015M07
-0.2
0.5
-0.5
-3.0

2015M08
-0.3
0.2
-0.8
-3.8

2015M09
-0.1
0.3
-0.7
-4.2

2015M10
-0.1
0.1
-0.2
-3.9

2015M11
-0.4
0.0
-0.4
-3.7

2015M12
-0.2
-0.1
-0.5
-2.9

2016M01
0.6
0.5
-1.6
-3.4

2016M02
:
:
:
:

Unemployment rate -  total (2)
Unemployment rate -  
age <25 year (2)
Unemployment rate -  
age >25 year (2)

%

%

%

Labour Cost Index

Employment

Industrial production

Production in construction

Retail trade deflated turnover

Q/Q-1 % (1)

Q/Q-1 % (2)

M/M-1 % (1)
M/M-12 % (3)
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %

2015M03
5.6

2015M04
5.3

2015M05
5.1

2015M06
5.0

2015M07
5.0

2015M08
4.8

2015M09
4.7

2015M10
4.6

2015M11
4.5

2015M12
4.5

2016M01
4.5

2016M02
:

14.2

5.0

2014Q4
1.4
2014Q4
0.3

2015M03
-0.2
4.0
2.0
9.0
-0.9
4.8

13.5

4.7

2015Q1
1.0
2015Q1
0.7

2015M04
0.6
4.5
-0.5
10.3
0.4
5.1

12.8

4.5

2015Q2
0.2
2015Q2
0.2

2015M05
-0.3
5.2
-0.5
12.8
0.8
6.5

12.7

4.4

2015Q3
0.5
2015Q3
0.0

2015M06
0.8
6.0
-0.9
7.3
0.1
5.5

12.6

4.5

2015Q4
:
2015Q4
0.2

2015M07
1.2
7.4
1.2
13.2
0.6
7.1

12.1

4.3

11.9

4.2

Q/Q-4 % (3)

Q/Q-4 %

2015M09
2.4
3.5
0.4
2.5
1.7
6.4

2015M08
-4.0
7.0
-3.7
4.2
-1.0
3.5

11.6

4.1

2014Q4
3.6
2014Q4
1.0

2015M10
1.3
6.4
-1.7
0.0
1.0
6.8

11.0

4.1

2015Q1
3.5
2015Q1
1.1

2015M11
-1.3
3.2
-0.8
0.2
-0.4
5.6

10.9

4.1

2015Q2
2.6
2015Q2
1.4

2015M12
-2.6
-1.7
-0.3
1.9
0.6
5.5

11.0

4.1

2015Q3
3.0
2015Q3
1.2

2016M01
:
:
:
:
:
:

:

:

2015Q4
:
2015Q4
1.1

2016M02
:
:
:
:
:
:

General government deficit (-)/ 
surplus (+)

%

General government gross debt %

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

-3.5

42.7

-1.3

42.6

1.2

41.8

0.9

41.4

:

:

Economic sentiment indicator (2)  

index

102.4

103.2

103.8

105.7

104.6

104.3

103.6

103.4

104.9

105.3

107.3

105.9

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

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

%

%

2015M03
0.32

2015M04
0.31

2015M05
0.31

2015M06
0.31

2015M07
0.31

2015M08
0.31

2015M09
0.30

2015M10
0.29

2015M11
0.29

2015M12
0.29

2016M01
0.29

2016M02
:

0.35

0.26

0.60

1.01

0.97

0.74

0.68

0.56

0.49

0.49

0.62

:

Average

27.38

27.44

27.40

27.31

27.09

27.04

27.09

27.11

27.04

27.03

27.03

27.04

(1)  sca: Seasonally and calendar adjusted data
(2)  sa: Seasonally adjusted data
(3)  ca: Calendar adjusted data, not seasonally adjusted data 
« : » 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)

26

Eurostatistics — 03/2016 edition 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2

Czech Republic

Graph 1: Output

Growth rate

Index

9.0

6.0

3.0

0.0

-3.0
3 0

-6.0

-9.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

Graph 2: Demand

Growth Rate (PFC, 
I)

8.0

6.0

4.0

2.0

0.0

-2.0

Growth Rate (RT)

6.0

4.0

2.0

0.0

-2.0

-4.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

115

110

105

100

95
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

%
5.9

5.6

5.3

5.0

4.7

4.4

Graph  4: Prices

Growth Rate
1.0

0.5

0.0

-0.5

-1.0

-1.5

-2.0

Growth Rate 

3.0

2.0

1.0

0.0

-1.0

-2.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

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

3500

3000

2500

2000

1500

1000

500
500

0

-500

-1000

-1500

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

%

1.2

1.0

0.8

0.6

0.4

0.2

0.0

Czech Koruna/€

29.000

28.000

27.000

26.000

25.000

24.000

23.000

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

External trade balance  

BOP current account 

3-month interest rates

Long-term government bond yields - rates

Czech Koruna exchange rates against the euro

  Eurostatistics — 03/2016 edition

27

2

Principal European Economic Indicators (PEEIs)

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)

2014Q4
0.2

2015Q1
0.7

2015Q2
0.2

2015Q3
-0.5

2015Q4
0.2

0.6

2.6

0.8

-2.2

-0.1

1.2

0.7

-1.3

0.3

0.9

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2014Q4
1.2

2015Q1
1.4

2015Q2
2.1

2015Q3
0.6

2015Q4
0.5

1.9

6.3

2.9

1.6

1.7

2.9

2.2

0.3

1.8

-1.3

External trade balance 
(extra EU28) (2)

BOP Current account 
(All countries of the world)

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

mn euro

1156.9

803.2

674.9

640.3

705.5

631.7

936.7

664.9

854.1

992.5

:

:

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

mn euro

5573.1

3725.2

4187.7

5868.6

:

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

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

2015M03
0.5
0.3
-0.8
-5.7

2015M04
0.2
0.4
0.4
-5.6

2015M05
0.0
0.4
-0.4
-6.9

2015M06
-0.1
0.4
-0.9
-7.3

2015M07
-0.1
0.5
-2.6
-9.0

2015M08
-0.3
0.3
1.7
-6.8

2015M09
0.3
0.3
-0.4
-7.6

2015M10
-0.1
0.1
0.5
-4.9

2015M11
-0.2
0.1
-0.9
-4.9

2015M12
-0.1
0.3
-2.4
-5.8

2016M01
-0.5
0.4
1.7
-2.3

2016M02
:
:
:
:

Unemployment rate -  total (2)
Unemployment rate -  
age <25 year (2)
Unemployment rate -  
age >25 year (2)

%

%

%

Labour Cost Index

Employment

Industrial production

Production in construction

Retail trade deflated turnover

Q/Q-1 % (1)

Q/Q-1 % (1)

M/M-1 % (1)
M/M-12 % (3)
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %

2015M03
6.4

2015M04
6.3

2015M05
6.2

2015M06
6.2

2015M07
6.2

2015M08
6.2

2015M09
6.0

2015M10
6.1

2015M11
6.1

2015M12
6.0

2016M01
5.9

2016M02
:

10.7

5.6

2014Q4
0.6
2014Q4
0.3

2015M03
4.2
4.1
3.5
4.7
0.9
3.1

10.4

5.6

2015Q1
0.2
2015Q1
0.3

2015M04
-0.8
2.5
-6.1
1.5
-1.0
0.4

10.4

5.5

2015Q2
0.6
2015Q2
0.3

2015M05
-2.5
0.4
2.4
1.8
-3.3
-2.4

11.3

5.2

2015Q3
0.3
2015Q3
0.3

2015M06
5.3
10.5
3.3
15.1
3.8
1.0

11.3

5.3

2015Q4
:
2015Q4
0.4

2015M07
-5.0
1.2
-4.5
3.0
0.8
2.7

11.5

5.2

10.9

5.2

Q/Q-4 % (3)

Q/Q-4 %

2015M09
-1.8
2.0
0.8
3.8
-0.4
1.6

2015M08
3.4
2.7
3.1
4.3
0.0
1.7

10.7

5.2

2014Q4
1.8
2014Q4
0.9

2015M10
-2.8
-1.6
0.7
4.1
0.8
2.3

10.7

5.3

2015Q1
1.5
2015Q1
1.0

2015M11
-1.3
-3.2
0.3
3.3
0.2
1.7

10.8

5.1

2015Q2
2.0
2015Q2
1.0

2015M12
2.7
-1.6
-0.9
7.7
-1.4
-0.4

11.1

5.0

2015Q3
1.7
2015Q3
1.1

2016M01
2.4
3.2
:
:
1.2
1.7

:

:

2015Q4
:
2015Q4
1.3

2016M02
:
:
:
:
:
:

General government deficit (-)/ 
surplus (+)

%

General government gross debt %

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

2.2

44.8

-4.0

44.0

-1.4

42.4

-1.7

41.7

:

:

Economic sentiment indicator (2)  

index

95.5

98.8

101.3

99.8

98.8

98.0

98.7

104.1

101.8

103.0

102.3

100.5

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

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

%

%

Average

2015M03
-0.19

2015M04
-0.19

2015M05
-0.18

2015M06
-0.20

2015M07
-0.16

2015M08
-0.07

2015M09
-0.01

2015M10
-0.07

2015M11
-0.14

2015M12
-0.13

2016M01
-0.06

2016M02
-0.08

0.30

7.46

0.25

7.47

0.73

7.46

1.00

7.46

0.94

7.46

0.84

7.46

0.93

7.46

0.83

7.46

0.81

7.46

0.83

7.46

0.79

7.46

:

7.46

(1)  sca: Seasonally and calendar adjusted data
(2)  sa: Seasonally adjusted data
(3)  ca: Calendar adjusted data, not seasonally adjusted data 
« : » 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)

28

Eurostatistics — 03/2016 edition 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2

Denmark

Graph 1: Output

Growth rate

Index

9.0

6.0

3.0

0.0

-3.0

-6.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

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

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

115

105

95

85

75

65

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

%

8.0

7.5

7.0

6.5
6.5

6.0

5.5

Growth Rate 

Growth Rate

1.5

1.0

0.5

0.0
0.0

-0.5

-1.0

2

2

1

1

0

-1

1
-1

-2

-2

-3

-3

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

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
7000

6000

5000

4000

3000

2000

1000

0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

%

4.0

3.0

2.0

1.0

0.0

-1.0

Danish Krone/€

7.470

7.460

7.450

7.440

7.430

7.420

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

3-month interest rates

Long-term government bond yields - rates

External trade balance  

BOP current account 

Danish Krone exchange rates against the euro

  Eurostatistics — 03/2016 edition

29

2

Principal European Economic Indicators (PEEIs)

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)

2014Q4
0.6

2015Q1
0.4

2015Q2
0.4

2015Q3
0.3

2015Q4
0.3

1.0

1.3

0.4

1.5

0.1

-0.6

0.6

0.1

0.3

1.5

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2014Q4
1.6

2015Q1
1.3

2015Q2
1.6

2015Q3
1.7

2015Q4
2.1

1.6

1.9

2.3

0.7

1.8

1.5

2.1

2.2

1.6

4.2

External trade balance 
(extra euro area)(2)
External trade balance  
(extra EU28) (2)

BOP Current account 
(All countries of the world)

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

mn euro

20756.7

20607.0

20891.9

19967.0

20882.5

19503.3

20607.4

19071.2

20537.0

20198.0

mn euro

15339.0

15840.9

15622.2

14747.4

15318.8

14929.5

15199.6

13545.2

14921.6

14873.8

:

:

:

:

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

mn euro

64987.0

56786.0

56943.0

62789.0

:

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

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

2015M03
0.5
0.2
0.1
-1.6

2015M04
-0.1
0.3
0.0
-1.5

2015M05
0.1
0.6
0.0
-1.3

2015M06
-0.1
0.2
-0.1
-1.4

2015M07
0.2
0.1
0.0
-1.3

2015M08
0.0
0.1
-0.4
-1.6

2015M09
-0.2
-0.1
-0.4
-2.0

2015M10
0.0
0.2
-0.4
-2.2

2015M11
0.0
0.2
-0.2
-2.4

2015M12
0.0
0.2
-0.4
-2.2

2016M01
-1.0
0.4
-0.8
-2.3

2016M02
:
:
:
:

Unemployment rate -  total (2)
Unemployment rate -  
age <25 year (2)
Unemployment rate -  
age >25 year (2)

%

%

%

Labour Cost Index

Employment

Industrial production

Production in construction

Retail trade deflated turnover

Q/Q-1 % (1)

Q/Q-1 % (1)

M/M-1 % (1)
M/M-12 % (3)
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %

2015M03
4.8

2015M04
4.7

2015M05
4.7

2015M06
4.7

2015M07
4.6

2015M08
4.6

2015M09
4.5

2015M10
4.5

2015M11
4.4

2015M12
4.4

2016M01
4.3

2016M02
:

7.1

4.5

2014Q4
0.8
2014Q4
0.1

2015M03
-0.5
0.2
-0.3
-2.2
-0.4
1.8

7.1

4.5

2015Q1
0.9
2015Q1
0.2

2015M04
0.6
1.1
-1.0
-2.8
0.2
3.0

7.1

4.4

2015Q2
0.6
2015Q2
0.3

2015M05
0.5
2.6
0.3
0.2
0.6
3.7

7.1

4.4

2015Q3
0.0
2015Q3
0.3

2015M06
-0.7
1.4
-2.2
-3.4
-0.9
1.4

7.1

4.3

2015Q4
:
2015Q4
0.3

2015M07
1.1
1.1
-0.2
-2.9
1.3
4.1

7.1

4.3

7.1

4.2

Q/Q-4 % (3)

Q/Q-4 %

2015M09
-1.0
0.5
-2.3
-2.6
0.1
3.7

2015M08
-0.8
3.3
1.6
-1.2
-0.4
2.6

7.1

4.2

2014Q4
2.2
2014Q4
0.8

2015M10
0.6
0.4
1.2
-1.3
-0.1
2.5

7.1

4.2

2015Q1
3.0
2015Q1
0.7

2015M11
-0.4
0.2
1.7
-0.6
0.5
2.3

7.1

4.1

2015Q2
3.0
2015Q2
0.7

2015M12
-1.3
-2.3
-0.2
-1.6
0.6
2.5

7.1

4.0

2015Q3
2.4
2015Q3
0.8

2016M01
:
:
:
:
0.7
2.3

:

:

2015Q4
:
2015Q4
1.0

2016M02
:
:
:
:
:
:

General government deficit (-)/ 
surplus (+)

%

General government gross debt %

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

0.9

74.9

0.1

74.3

2.0

72.5

0.4

71.9

:

:

Economic sentiment indicator (2)  

index

104.9

104.3

104.8

104.8

105.8

105.7

107.6

106.9

106.8

106.8

104.7

104.1

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

3-month interest rate
Long term government  
bond yields 

%

%

2015M03
-

2015M04
-

2015M05
-

2015M06
-

2015M07
-

2015M08
-

2015M09
-

2015M10
-

2015M11
-

2015M12
-

2016M01
-

2016M02
-

0.23

0.12

0.56

0.79

0.71

0.61

0.65

0.52

0.52

0.55

0.43

:

(1)  sca: Seasonally and calendar adjusted data
(2)  sa: Seasonally adjusted data
(3)  ca: Calendar adjusted data, not seasonally adjusted data  
« : » 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)

30

Eurostatistics — 03/2016 edition 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2

Germany

Graph 1: Output

Growth rate

Index

6.0

3.0

0.0

-3.0

-6.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

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

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

115

110

105

100

95

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

5.5

5.0

4.5

4.0

Growth Rate 

Growth Rate

3.0

2.0

1.0

0.0

-1.0

0.6

0.4

0.2

0.0

-0.2

-0.4

-0.6

-0.8

-1.0

-1.2

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

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

70000

60000

50000

40000

30000

20000

10000

0

%
2.5

2.0

1.5

1.0

0.5

0.0

€/$

1.800

1.600

1.400

1.200

1.000

0.800

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

External trade balance  

BOP current account 

Long-term government bond yields - rates

Euro-dollar exchange rate

  Eurostatistics — 03/2016 edition

31

2

Principal European Economic Indicators (PEEIs)

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)

2014Q4
1.3

2015Q1
-0.8

2015Q2
0.6

2015Q3
-0.4

2015Q4
:

1.8

-1.0

1.0

-1.4

1.3

-0.1

0.5

-0.9

:

:

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2014Q4
3.4

5.4

-10.6

2015Q1
1.1

2015Q2
2.2

2015Q3
0.7

2015Q4
:

5.5

-9.7

5.9

-8.0

4.4

-3.5

:

:

External trade balance 
(extra euro area)(2)
External trade balance 
(extra EU28) (2)

BOP Current account 
(All countries of the world)

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

mn euro

mn euro

62.9

54.8

103.3

75.1

59.6

46.6

50.7

28.7

74.7

64.6

63.3

45.7

39.4

35.1

58.1

38.7

73.7

65.5

89.2

51.6

:

:

:

:

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

mn euro

152.7

-11.7

244.1

158.8

:

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

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

2015M03
0.7
0.0
0.4
-0.4

2015M04
0.6
0.4
0.1
-0.1

2015M05
0.4
0.5
-0.9
-2.5

2015M06
0.0
0.3
0.6
-1.2

2015M07
-0.3
0.1
-1.5
-4.3

2015M08
-0.2
0.2
0.6
-3.3

2015M09
-0.6
-0.3
-0.9
-5.2

2015M10
0.2
0.0
0.4
-3.4

2015M11
-0.3
0.5
-1.1
-3.2

2015M12
-0.7
-0.2
-2.0
-5.5

2016M01
-0.2
0.1
4.5
0.0

2016M02
:
:
:
:

Unemployment rate -  total (2)
Unemployment rate -  
age <25 year (2)
Unemployment rate -  
age >25 year (2)

%

%

%

Labour Cost Index

Employment

Industrial production

Production in construction

Retail trade deflated turnover

Q/Q-1 % (1)

Q/Q-1 % (1)

M/M-1 % (1)
M/M-12 % (3)
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %

2015M03
6.1

2015M04
6.5

2015M05
6.4

2015M06
6.2

2015M07
5.8

2015M08
5.8

2015M09
6.0

2015M10
6.3

2015M11
6.5

2015M12
6.3

2016M01
:

2016M02
:

11.9

5.6

2014Q4
1.5
2014Q4
0.5

2015M03
-0.7
1.3
-
-
0.6
3.5

11.5

6.1

2015Q1
0.7
2015Q1
0.9

2015M04
0.5
-0.5
-
-
0.3
1.7

10.7

6.0

2015Q2
2.4
2015Q2
0.9

2015M05
-1.1
-2.2
-
-
0.9
4.9

10.3

5.8

2015Q3
1.5
2015Q3
2.1

2015M06
-0.9
-2.3
-
-
0.7
4.8

12.1

5.3

2015Q4
:
2015Q4
:

2015M07
-0.7
-5.6
-
-
2.0
7.0

13.8

5.1

15.4

5.2

Q/Q-4 % (3)

Q/Q-4 %

2015M09
0.2
-3.6
-
-
0.2
4.2

2015M08
0.5
-3.0
-
-
-1.0
4.7

15.7

5.5

2014Q4
6.4
2014Q4
3.1

2015M10
0.4
-2.3
-
-
1.5
5.7

17.1

5.6

2015Q1
5.1
2015Q1
3.6

2015M11
-2.7
-6.4
-
-
-0.9
1.7

18.4

5.3

2015Q2
5.7
2015Q2
2.1

2015M12
-1.6
-8.3
-
-
2.7
6.5

:

:

2015Q3
6.1
2015Q3
4.4

2016M01
4.9
-0.2
-
-
1.9
8.9

:

:

2015Q4
:
2015Q4
:

2016M02
:
:
-
-
:
:

General government deficit (-)/ 
surplus (+)

%

General government gross debt %

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

2.3

10.4

-3.5

10.0

1.6

9.9

2.0

9.8

:

:

Economic sentiment indicator (2)  

index

96.6

96.6

96.1

94.6

96.0

96.6

97.7

99.7

99.7

100.2

101.3

99.0

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

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

%

%

2015M03
-

2015M04
-

2015M05
-

2015M06
-

2015M07
-

2015M08
-

2015M09
-

2015M10
-

2015M11
-

2015M12
-

2016M01
-

2016M02
-

:

:

:

:

:

:

:

:

:

:

:

:

(1)  sca: Seasonally and calendar adjusted data
(2)  sa: Seasonally adjusted data
(3)  ca: Calendar adjusted data, not seasonally adjusted data 
« : » 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)

32

Eurostatistics — 03/2016 edition 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2

Estonia

Graph 1: Output

Growth rate

Index

6.0

4.0

2.0

0.0

-2.0

-4.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

Graph 2: Demand

Growth Rate (PFC, 
I)

6.0

4.0

2.0

0.0

-2.0
2 0

-4.0

-6.0

Growth Rate (RT)

6.0

4.0

2.0

0.0

-2.0
2 0

-4.0

-6.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

115

110

105

100

95

90

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

6.0

5.5

Growth Rate 

Growth Rate

3.0

2.0

1.0

0.0

-1.0

-2.0

-3.0

5.0

4.0

3.0

2.0

1.0

0.0
0 0

-1.0

-2.0

-3.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

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

300

250

200

150

100
100

50

0

-50

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

External trade balance  

BOP current account 

€/$

1.40

1.30

1.20

1.10

1.00

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

Euro-dollar exchange rate

  Eurostatistics — 03/2016 edition

33

2

Principal European Economic Indicators (PEEIs)

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)

2014Q4
1.1

2015Q1
2.2

2015Q2
1.9

2015Q3
1.4

2015Q4
:

1.7

8.2

0.8

-1.4

0.4

20.0

0.7

4.9

:

:

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2014Q4
6.0

2015Q1
7.3

2015Q2
6.8

2015Q3
7.0

2015Q4
:

3.1

20.3

3.9

9.2

2.9

34.2

3.6

35.9

:

:

External trade balance 
(extra euro area) (1)
External trade balance  
(extra EU28) (1)

BOP Current account 
(All countries of the world)

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

mn euro

1954.0

2065.5

2039.5

1816.6

1836.4

2025.1

2025.9

2493.7

2406.5

2449.3

mn euro

2290.4

2477.4

2417.9

2133.6

2144.2

2334.5

2311.7

2892.3

2785.9

2903.4

:

:

:

:

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

mn euro

2442.0

1625.0

2704.0

2446.0

:

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

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

2015M03
0.7
-0.2
2.6
-3.5

2015M04
-0.1
-0.3
0.0
-3.5

2015M05
0.5
0.2
-0.4
-4.0

2015M06
0.4
0.4
0.2
-3.8

2015M07
-0.3
0.2
1.3
-2.6

2015M08
0.3
0.2
-0.9
-3.3

2015M09
-0.5
-0.1
-2.0
-5.2

2015M10
-0.3
-0.1
-1.1
-6.2

2015M11
-0.3
-0.1
0.2
-4.8

2015M12
-0.1
0.2
-0.3
-3.8

2016M01
-0.9
0.0
-1.4
-2.7

2016M02
:
:
:
:

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

%

%

%

Labour Cost Index

Employment

Industrial production

Production in construction

Retail trade deflated turnover

Q/Q-1 % (2)

Q/Q-1 % (1)

M/M-1 % (2)
M/M-12 % (3)
M/M-1 % (2)
M/M-12 %
M/M-1 % (2)
M/M-12 %

2015M03
9.8

2015M04
9.7

2015M05
9.6

2015M06
9.4

2015M07
9.2

2015M08
9.1

2015M09
9.1

2015M10
9.1

2015M11
9.1

2015M12
9.0

2016M01
8.9

2016M02
8.8

21.6

8.7

2014Q4
1.3
2014Q4
0.7

2015M03
-9.0
28.9
-
-
-0.3
6.4

20.9

8.6

2015Q1
-0.1
2015Q1
0.8

2015M04
1.6
7.9
-
-
3.4
6.9

20.5

8.5

2015Q2
0.4
2015Q2
0.9

2015M05
-6.5
-3.0
-
-
-1.5
6.6

20.3

8.4

2015Q3
0.2
2015Q3
0.6

2015M06
1.6
28.5
-
-
-0.3
4.7

20.5

8.1

2015Q4
:
2015Q4
:

2015M07
5.9
23.9
-
-
1.1
6.2

20.7

8.0

20.8

8.0

Q/Q-4 % (3)

Q/Q-4 %

2015M09
0.9
18.6
-
-
0.6
7.5

2015M08
-0.3
18.3
-
-
0.6
6.9

20.5

8.0

2014Q4
0.2
2014Q4
1.6

2015M10
2.0
13.8
-
-
-1.0
4.9

20.5

8.0

2015Q1
0.3
2015Q1
2.3

2015M11
-0.9
12.7
-
-
4.0
9.4

20.3

8.0

2015Q2
1.0
2015Q2
3.0

2015M12
0.2
22.5
-
-
-1.7
5.4

20.3

7.8

2015Q3
1.8
2015Q3
3.0

2016M01
12.7
42.7
-
-
0.6
6.2

20.1

7.8

2015Q4
:
2015Q4
:

2016M02
:
:
-
-
:
:

General government deficit (-)/ 
surplus (+)

%

-2.6

-4.7

-0.8

General government gross debt %

107.5

104.7

102.1

-2.2

99.4

:

:

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

Economic sentiment indicator (1)  

index

-

-

-

-

-

-

-

-

-

-

-

-

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

3-month interest rate
Long term government  
bond yields 

%

%

2015M03
-

2015M04
-

2015M05
-

2015M06
-

2015M07
-

2015M08
-

2015M09
-

2015M10
-

2015M11
-

2015M12
-

2016M01
-

2016M02
-

0.80

0.73

1.25

1.65

1.47

1.29

1.31

1.14

1.10

1.11

1.05

:

(1)  sa: Seasonally adjusted data
(2)  sca: Seasonally and calendar adjusted data
(3)  ca: Calendar adjusted data, not seasonally adjusted data 
« : » 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)

34

Eurostatistics — 03/2016 edition 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
Ireland

Graph 1: Output

Growth rate

30.0

20.0

10.0

0.0

-10.0

-20.0

millions  euro

3500

3000

2500

2000

1500

1000

500

0

Principal European Economic Indicators (PEEIs)

2

Graph 2: Demand

Growth Rate (PFC, 
I)

25.0

20.0

15.0

10.0

5.0
5 0

0.0

-5.0

Growth Rate (RT)

8.0

6.0

4.0

2.0

0.0
0 0

-2.0

-4.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

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

%

13.0

12.0

11.0

10.0
0.0

9.0

8.0

Growth Rate 

Growth rate

3.0

2.0

1.0

0.0
0.0

-1.0

-2.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

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

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

HICP (m/m-1)

Industrial producer prices (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

%

6.0

5.0

4.0

3.0

2.0
2 0

1.0

0.0

€/$

1.500

1.400

1.300

1.200

1.100

1.000

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

External trade balance  

BOP current account 

Long-term government bond yields - rates

Euro-dollar exchange rate

  Eurostatistics — 03/2016 edition

35

2

Principal European Economic Indicators (PEEIs)

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)

2014Q4
-0.5

2015Q1
-0.1

2015Q2
0.2

2015Q3
-1.4

2015Q4
-0.6

0.5

5.4

-0.1

-2.3

0.6

-8.9

-0.8

-7.0

:

:

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2014Q4
0.6

2015Q1
0.3

2015Q2
1.3

1.4

4.4

1.3

13.3

2.4

-1.5

2015Q3
-1.7

-0.6

-13.6

2015Q4
-2.0

:

:

External trade balance 
(extra euro area)(2)
External trade balance  
(extra EU28) (2)

BOP Current account 
(All countries of the world)

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

mn euro

-869.7

-991.0

-673.2

-879.3

-752.5

-823.6

-878.7

-903.9

-797.7

-884.9

mn euro

-752.1

-867.1

-537.3

-741.0

-733.3

-702.3

-784.6

-780.2

-645.1

-768.0

:

:

:

:

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

mn euro

-3821.0

-3214.0

-388.0

5559.0

:

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

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

2015M03
1.9
-1.9
0.7
-3.0

2015M04
0.4
-1.8
-0.1
-4.4

2015M05
-0.2
-1.4
0.7
-4.1

2015M06
0.9
-1.1
-0.4
-4.8

2015M07
-1.2
-1.3
-1.4
-5.4

2015M08
-0.2
-0.4
-3.2
-8.4

2015M09
1.2
-0.8
-0.5
-8.8

2015M10
-0.2
-0.1
-0.5
-8.0

2015M11
-0.7
-0.1
0.1
-6.6

2015M12
0.0
0.4
-2.4
-5.7

2016M01
-1.7
-0.1
-2.9
-6.3

2016M02
:
:
:
:

Unemployment rate -  total (2)
Unemployment rate -  
age <25 year (2)
Unemployment rate -  
age >25 year (2)

%

%

%

Labour Cost Index

Employment

Industrial production

Production in construction

Retail trade deflated turnover

Q/Q-1 % (1)

Q/Q-1 % (2)

M/M-1 % (1)
M/M-12 % (3)
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %

2015M03
25.9

2015M04
25.2

2015M05
24.9

2015M06
24.9

2015M07
24.8

2015M08
24.6

2015M09
24.7

2015M10
24.7

2015M11
24.6

2015M12
:

2016M01
:

2016M02
:

52.2

24.2

2014Q4
-2.3
2014Q4
0.1

2015M03
0.4
4.7
-
-
1.7
1.0

51.5

23.6

2015Q1
0.3
2015Q1
0.0

2015M04
-1.9
0.4
-
-
-0.6
-1.8

50.0

23.4

2015Q2
-3.8
2015Q2
1.4

2015M05
-5.5
-4.6
-
-
1.5
4.1

48.0

23.4

2015Q3
:
2015Q3
0.3

2015M06
-0.2
-4.8
-
-
-1.2
-0.4

48.4

23.4

2015Q4
:
2015Q4
:

2015M07
4.0
-1.6
-
-
-4.2
-7.2

48.1

23.2

48.9

23.2

Q/Q-4 % (3)

Q/Q-4 %

2015M09
-1.6
2.9
-
-
-1.5
-3.3

2015M08
3.5
4.3
-
-
3.6
-2.1

48.3

23.3

2014Q4
3.5
2014Q4
1.3

2015M10
-1.2
-1.9
-
-
0.9
-2.4

48.0

23.2

2015Q1
1.0
2015Q1
0.6

2015M11
3.5
2.0
-
-
-1.5
-4.4

:

:

2015Q2
-2.9
2015Q2
2.4

2015M12
1.4
5.4
-
-
1.7
0.4

:

:

2015Q3
:
2015Q3
1.9

2016M01
:
:
-
-
:
:

:

:

2015Q4
:
2015Q4
:

2016M02
:
:
-
-
:
:

General government deficit (-)/ 
surplus (+)

%

-7.2

-9.9

-4.0

-1.3

General government gross debt %

178.6

169.9

168.9

171.0

:

:

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

Economic sentiment indicator (2)  

index

97.3

93.3

92.0

91.2

82.1

76.1

83.8

87.1

87.1

87.6

91.6

89.0

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

3-month interest rate
Long term government  
bond yields 

%

%

2015M03
-

2015M04
-

2015M05
-

2015M06
-

2015M07
-

2015M08
-

2015M09
-

2015M10
-

2015M11
-

2015M12
-

2016M01
-

2016M02
-

10.52

12.00

10.95

11.43

:

10.26

8.54

7.81

7.41

8.21

9.08

:

(1)  sca: Seasonally and calendar adjusted data
(2)  sa: Seasonally adjusted data
(3)  ca: Calendar adjusted data, not seasonally adjusted data 
« : » 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)

36

Eurostatistics — 03/2016 edition 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2

Greece

Graph 1: Output

Growth rate

Index

6.0

4.0

2.0

0.0

-2.0
2 0

-4.0

-6.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

Graph 2: Demand

Growth Rate (PFC, 
I)

20.0

15.0

10.0

5.0

0.0

-5.0

-10.0

-15.0

Growth Rate (RT)

8.0

6.0

4.0

2.0

0.0

-2.0

-4.0

-6.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

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

%

26.5

26.0

25.5

25.0
25.0

24.5

24.0

Growth Rate

Growth Rate

6.0

4.0

2.0

0.0
0.0

-2.0

-4.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

Employment (q/q-1)

Labour cost index  (q/q-1)

Unemployment rate Total (%)

3

2

1

0

-1

-2

-3

-4

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

HICP (m/m-1)

Industrial producer prices (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

millions  euro
6000

4000

2000

0

-2000

-4000

%

12.0

10.0

8.0

6.0
6 0

4.0

2.0

€/$

1.400

1.300

1.200

1.100

1.000

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

External trade balance  

BOP current account 

Long-term government bond yields - rates

Euro-dollar exchange rate

  Eurostatistics — 03/2016 edition

37

2

Principal European Economic Indicators (PEEIs)

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)

2014Q4
0.7

2015Q1
0.9

2015Q2
1.0

2015Q3
0.8

2015Q4
0.8

0.8

1.4

0.8

1.6

0.8

2.3

1.1

1.3

0.7

1.1

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2014Q4
1.8

2015Q1
2.7

2015Q2
3.3

2015Q3
3.5

2015Q4
3.3

1.5

3.7

2.8

5.8

2.9

7.0

3.8

6.9

2.9

5.7

External trade balance 
(extra euro area)(2)
External trade balance  
(extra EU28) (2)

BOP Current account 
(All countries of the world)

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

mn euro

-1416.1

-1790.8

-1306.2

-1910.1

-1371.5

-2051.4

-1515.5

-1252.7

-1333.7

-1419.6

mn euro

-1698.6

-2110.7

-1591.0

-1851.3

-1744.3

-2041.3

-1949.5

-1708.5

-1728.1

-1559.6

:

:

:

:

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

mn euro

8094.0

-1406.0

3019.0

6104.0

:

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

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

2015M03
2.0
-0.8
0.5
-1.3

2015M04
0.7
-0.7
0.5
-0.9

2015M05
0.4
-0.3
0.3
-1.4

2015M06
0.2
0.0
0.9
-1.4

2015M07
-1.5
0.0
0.1
-1.3

2015M08
-0.4
-0.5
-1.7
-2.2

2015M09
0.4
-1.1
-0.9
-3.6

2015M10
0.3
-0.9
-0.8
-3.6

2015M11
0.3
-0.4
-0.2
-2.6

2015M12
-0.4
-0.1
-0.7
-2.2

2016M01
-2.5
-0.4
-2.5
-4.2

2016M02
:
:
:
:

Unemployment rate -  total (2)
Unemployment rate -  
age <25 year (2)
Unemployment rate -  
age >25 year (2)

%

%

%

Labour Cost Index

Employment

Industrial production

Production in construction

Retail trade deflated turnover

Q/Q-1 % (1)

Q/Q-1 % (1)

M/M-1 % (1)
M/M-12 % (3)
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %

2015M03
22.9

2015M04
22.7

2015M05
22.5

2015M06
22.3

2015M07
21.9

2015M08
21.7

2015M09
21.4

2015M10
21.2

2015M11
20.9

2015M12
20.7

2016M01
20.5

2016M02
:

49.9

20.9

2014Q4
-0.1
2014Q4
0.7

2015M03
1.2
3.7
-0.9
-7.0
:
:

49.5

20.7

2015Q1
0.5
2015Q1
0.7

2015M04
-0.2
1.7
1.8
3.2
:
:

49.1

20.5

2015Q2
0.0
2015Q2
0.9

2015M05
0.4
2.8
-0.4
-2.7
:
:

48.6

20.3

2015Q3
-0.1
2015Q3
0.7

2015M06
0.7
4.7
0.3
-2.3
:
:

47.8

20.0

2015Q4
:
2015Q4
0.7

2015M07
0.6
5.6
0.3
0.5
:
:

47.5

19.8

47.1

19.6

Q/Q-4 % (3)

Q/Q-4 %

2015M09
1.4
4.2
1.1
3.3
:
:

2015M08
-1.3
2.3
0.3
-2.6
:
:

46.8

19.4

2014Q4
0.2
2014Q4
2.3

2015M10
0.3
4.9
1.1
8.2
:
:

46.1

19.1

2015Q1
1.2
2015Q1
2.8

2015M11
0.1
4.8
-1.0
-1.2
:
:

45.8

19.0

2015Q2
0.5
2015Q2
2.9

2015M12
-0.2
3.9
1.5
5.3
:
:

45.0

18.8

2015Q3
0.3
2015Q3
3.2

2016M01
:
:
:
:
:
:

:

:

2015Q4
:
2015Q4
3.0

2016M02
:
:
:
:
:
:

General government deficit (-)/ 
surplus (+)

%

General government gross debt %

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

-8.6

99.3

-2.9

99.7

-9.0

99.3

-0.6

99.3

:

:

Economic sentiment indicator (2)  

index

108.7

110.0

110.0

108.0

108.3

110.0

109.1

108.4

108.6

111.9

107.8

107.3

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

3-month interest rate
Long term government  
bond yields 

%

%

2015M03
-

2015M04
-

2015M05
-

2015M06
-

2015M07
-

2015M08
-

2015M09
-

2015M10
-

2015M11
-

2015M12
-

2016M01
-

2016M02
-

1.23

1.31

1.78

2.22

2.10

1.96

2.03

1.73

1.72

1.69

1.72

:

(1)  sca: Seasonally and calendar adjusted data
(2)  sa: Seasonally adjusted data
(3)  ca: Calendar adjusted data, not seasonally adjusted data 
« : » 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)

38

Eurostatistics — 03/2016 edition 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2

Spain

Graph 1: Output

Growth rate

Index

6.0

4.0

2.0

0.0

-2.0

-4.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

Graph 2: Demand

Growth Rate (PFC, 
I)

4.0

2.0

0.0

-2.0

-4.0

Growth Rate (RT)

2.0

1.0

0.0

-1.0

-2.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

120

115

110

105

100

95

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

%
25.0

24.0

23.0

22.0
22.0

21.0

20.0

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

-2.5

-3.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

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
7000

6000

5000

4000

3000

2000

1000

0

-1000

-2000

-3000

%

5.0

4.0

3.0

2.0

1.0

€/$

1.400

1.300

1.200

1.100

1.000

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

External trade balance  

BOP current account 

Long-term government bond yields - rates

Euro-dollar exchange rate

  Eurostatistics — 03/2016 edition

39

2

Principal European Economic Indicators (PEEIs)

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)

2014Q4
0.1

2015Q1
0.7

2015Q2
0.0

2015Q3
0.3

2015Q4
0.3

0.4

-0.4

0.7

0.3

0.0

-0.1

0.4

0.1

-0.2

0.7

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2014Q4
0.2

2015Q1
1.1

2015Q2
1.2

2015Q3
1.1

2015Q4
1.4

0.7

-1.7

2.0

-0.9

1.4

-0.3

1.6

-0.1

0.9

1.2

External trade balance 
(extra euro area)(2)
External trade balance  
(extra EU28) (2)

BOP Current account 
(All countries of the world)

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

mn euro

mn euro

645.9

2630.3

2587.4

3065.2

2608.3

3071.5

2373.4

2074.6

2265.1

2114.3

263.6

2031.1

2476.8

2683.4

2284.8

2525.0

1934.4

2130.9

1730.6

1948.9

:

:

:

:

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

mn euro

3705.0

-2041.0

430.0

3276.0

:

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

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

2015M03
0.8
0.0
0.0
-1.9

2015M04
0.1
0.1
-0.3
-1.7

2015M05
0.3
0.3
-0.5
-1.7

2015M06
-0.1
0.3
0.2
-1.6

2015M07
-0.5
0.2
-0.2
-1.5

2015M08
0.4
0.1
-1.0
-2.2

2015M09
-0.4
0.1
0.0
-2.7

2015M10
0.1
0.2
0.1
-2.6

2015M11
-0.2
0.1
0.2
-2.4

2015M12
0.2
0.3
-1.2
-2.7

2016M01
-1.1
0.3
-0.8
-2.5

2016M02
:
:
:
:

Unemployment rate -  total (2)
Unemployment rate -  
age <25 year (2)
Unemployment rate -  
age >25 year (2)

%

%

%

Labour Cost Index

Employment

Industrial production

Production in construction

Retail trade deflated turnover

Q/Q-1 % (1)

Q/Q-1 % (2)

M/M-1 % (1)
M/M-12 % (3)
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %

2015M03
10.4

2015M04
10.3

2015M05
10.4

2015M06
10.4

2015M07
10.5

2015M08
10.6

2015M09
10.4

2015M10
10.2

2015M11
10.1

2015M12
10.1

2016M01
10.2

2016M02
:

24.7

8.9

2014Q4
0.4
2014Q4
0.0

2015M03
0.0
1.7
1.0
-5.3
-0.6
1.6

24.3

8.9

2015Q1
0.3
2015Q1
0.1

2015M04
-0.9
0.4
-1.1
-5.9
0.7
3.2

24.4

9.0

2015Q2
0.3
2015Q2
0.1

2015M05
0.4
2.5
0.8
-2.3
0.3
3.1

24.5

9.0

2015Q3
0.1
2015Q3
0.1

2015M06
0.2
1.0
-1.6
-5.6
0.6
3.5

25.0

9.1

2015Q4
:
2015Q4
0.1

2015M07
-1.1
-1.4
0.5
-4.2
0.0
4.5

25.4

9.1

25.3

8.8

Q/Q-4 % (3)

Q/Q-4 %

2015M09
0.1
1.1
-1.7
-2.7
-0.1
3.8

2015M08
2.0
1.9
1.1
-8.0
0.4
3.3

25.6

8.6

2014Q4
0.5
2014Q4
0.3

2015M10
0.6
3.6
0.5
-2.4
-0.5
2.7

25.7

8.5

2015Q1
1.1
2015Q1
0.2

2015M11
-0.9
3.1
1.2
0.6
-0.6
1.0

25.9

8.5

2015Q2
1.1
2015Q2
0.2

2015M12
-1.7
-0.8
-1.6
-3.6
1.4
2.4

25.9

8.5

2015Q3
1.1
2015Q3
0.3

2016M01
:
:
:
:
0.0
1.9

:

:

2015Q4
:
2015Q4
0.5

2016M02
:
:
:
:
:
:

General government deficit (-)/ 
surplus (+)

%

General government gross debt %

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

-0.8

95.6

-7.4

97.5

-2.8

97.7

-4.1

97.0

:

:

Economic sentiment indicator (2)  

index

98.6

97.8

98.7

98.5

99.4

100.1

101.0

103.5

102.6

102.1

103.4

102.9

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

3-month interest rate
Long term government  
bond yields 

%

%

2015M03
-

2015M04
-

2015M05
-

2015M06
-

2015M07
-

2015M08
-

2015M09
-

2015M10
-

2015M11
-

2015M12
-

2016M01
-

2016M02
-

0.51

0.44

0.89

1.20

1.11

1.01

1.00

0.87

0.88

0.93

0.84

:

(1)  sca: Seasonally and calendar adjusted data
(2)  sa: Seasonally adjusted data
(3)  ca: Calendar adjusted data, not seasonally adjusted data 
« : » 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)

40

Eurostatistics — 03/2016 edition 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
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

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

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

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

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

3.0

2.0

1.0

0.0
0.0

-1.0

-2.0

1.0

0.5

0.0

0.5
-0.5

-1.0

-1.5

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

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

3000

2000

1000

0

-1000

-2000

-3000

%

2.5

2.0

1.5

1.0
1.0

0.5

0.0

€/$

1.500

1.400

1.300

1.200
1.200

1.100

1.000

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

External trade balance  

BOP current account 

Long-term government bond yields - rates

Euro-dollar exchange rate

  Eurostatistics — 03/2016 edition

41

2

Principal European Economic Indicators (PEEIs)

Detailed PEEIs analysis for Croatia

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)

2014Q4
0.2

2015Q1
0.3

2015Q2
0.9

2015Q3
1.4

2015Q4
-0.5

-0.1

-1.7

0.9

2.3

0.4

0.3

0.5

1.2

0.9

0.0

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2014Q4
0.2

2015Q1
0.5

2015Q2
1.2

2015Q3
2.8

2015Q4
1.9

-0.5

-4.1

0.4

-0.4

0.6

0.8

1.4

2.2

2.4

3.7

External trade balance 
(extra EU28) (2)

BOP Current account 
(All countries of the world)

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

mn euro

-23.1

-30.3

-14.8

7.5

-56.3

0.0

2.9

39.2

-52.1

-45.5

:

:

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

mn euro

-591.8

-1265.1

11.4

3884.9

:

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

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

2015M03
0.8
0.0
1.2
-2.7

2015M04
0.4
-0.1
-0.6
-3.1

2015M05
0.6
0.0
0.6
-2.6

2015M06
0.3
0.1
-0.4
-2.8

2015M07
-0.2
-0.2
-0.5
-3.4

2015M08
0.2
-0.1
-1.4
-4.1

2015M09
-0.6
-0.5
-0.6
-4.8

2015M10
-0.2
-0.5
0.0
-4.5

2015M11
-0.6
-0.4
-0.6
-4.3

2015M12
-0.6
-0.3
-1.3
-4.4

2016M01
-0.4
-0.2
-1.3
-3.4

2016M02
:
:
:
:

Unemployment rate -  total (2)
Unemployment rate -  
age <25 year (2)
Unemployment rate -  
age >25 year (2)

%

%

%

Labour Cost Index

Employment

Industrial production

Production in construction

Retail trade deflated turnover

Q/Q-1 % (1)

Q/Q-1 % (1)

M/M-1 % (1)
M/M-12 % (3)
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %

2015M03
16.9

2015M04
16.6

2015M05
16.4

2015M06
16.3

2015M07
16.3

2015M08
16.3

2015M09
16.2

2015M10
16.4

2015M11
16.5

2015M12
16.5

2016M01
16.4

2016M02
:

44.2

14.4

2014Q4
-0.1
2014Q4
-0.9

2015M03
2.4
3.5
-
-
0.2
-0.8

44.6

14.1

2015Q1
1.3
2015Q1
1.3

2015M04
-3.9
1.2
-
-
1.7
5.0

44.6

13.8

2015Q2
1.0
2015Q2
0.1

2015M05
2.6
4.4
-
-
-0.3
3.8

44.6

13.7

2015Q3
-1.8
2015Q3
-0.6

2015M06
-2.7
1.5
-
-
0.0
2.6

44.9

13.6

2015Q4
:
2015Q4
:

2015M07
3.2
3.9
-
-
0.6
6.1

44.9

13.6

44.9

13.5

Q/Q-4 % (3)

Q/Q-4 %

2015M09
5.5
5.5
-
-
0.4
1.1

2015M08
-3.7
2.7
-
-
-0.1
2.7

44.1

13.8

2014Q4
-0.7
2014Q4
1.6

2015M10
0.9
6.4
-
-
1.1
4.3

44.1

13.9

2015Q1
2.3
2015Q1
2.2

2015M11
-0.8
2.7
-
-
1.1
5.4

44.1

13.9

2015Q2
3.0
2015Q2
2.2

2015M12
-1.2
0.9
-
-
1.0
6.7

:

13.9

2015Q3
0.1
2015Q3
-0.3

2016M01
:
:
-
-
:
:

:

:

2015Q4
:
2015Q4
2.0

2016M02
:
:
-
-
:
:

General government deficit (-)/ 
surplus (+)

%

General government gross debt %

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

-6.0

85.1

-7.7

87.7

-4.0

85.7

0.2

85.9

:

:

Economic sentiment indicator (2)  

index

112.0

115.1

116.2

116.3

117.7

114.1

114.3

118.7

118.6

120.9

120.3

118.5

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

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

%

%

Average

2015M03
1.12

2015M04
1.01

2015M05
0.96

2015M06
0.94

2015M07
1.09

2015M08
1.16

2015M09
1.87

2015M10
1.75

2015M11
1.41

2015M12
1.24

2016M01
1.06

2016M02
:

3.08

7.65

3.17

7.59

2.98

7.56

3.07

7.57

4.23

7.59

3.90

7.56

3.91

7.59

3.93

7.62

3.86

7.61

3.92

7.64

3.84

7.66

:

7.64

((1)  sca: Seasonally and calendar adjusted data
(2)  sa: Seasonally adjusted data
(3)  ca: Calendar adjusted data, not seasonally adjusted data 
« : » 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)

42

Eurostatistics — 03/2016 edition 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2

Croatia

Graph 1: Output

Growth rate

6.0

3.0

0.0

-3.0

-6.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

Graph 2: Demand

Growth Rate (PFC, 
I)

3.0

2.0

1.0

0.0

-1.0

-2.0

Growth Rate (RT)

2.0

1.0

0.0

-1.0

-2.0

-3.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

Index

130

125

120

115

110

105

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

%

19.0

18.0

17.0

16.0
16.0

15.0

14.0

Growth Rate 

Growth Rate

3.0

2.0

1.0

0.0
0.0

-1.0

-2.0

3.0

2.0

1.0

0.0

-1.0

-2.0

-3.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

HICP (m/m-1)

Industrial producer prices (m/m-1)

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

Employment (q/q-1)

Unemployment rate Total (%)

Graph 5: External Transactions

Graph 6: Financial

millions  euro

4000

3000

2000

1000

0

-1000

-2000

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

%

6.0

5.0

4.0

3.0

2.0

1.0

0.0

Pound Sterling/€

7.80

7.70

7.60

7.50

7.40

7.30

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

External trade balance  

BOP current account 

3-month interest rates

Long-term government bond yields - rates

Croatian exchange rates against the euro 

  Eurostatistics — 03/2016 edition

43

2

Principal European Economic Indicators (PEEIs)

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)

2014Q4
-0.1

2015Q1
0.4

2015Q2
0.3

2015Q3
0.2

2015Q4
0.1

0.1

0.0

0.1

0.6

0.4

0.0

0.5

0.2

0.3

0.8

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2014Q4
-0.4

2015Q1
0.2

2015Q2
0.9

2015Q3
0.8

2015Q4
1.1

0.8

-2.5

0.5

0.0

0.6

0.6

1.2

0.7

1.2

1.9

External trade balance 
(extra euro area) (2)
External trade balance  
(extra EU28) (2)

BOP Current account 
(All countries of the world)

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

mn euro

4142.3

3987.4

3901.4

2993.7

4594.9

3470.6

3879.8

3825.1

4347.7

5076.0

mn euro

2823.2

2705.6

2475.1

1847.3

3265.2

2200.5

2697.3

2476.8

2883.4

3775.8

:

:

:

:

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

mn euro

15034.0

587.0

6262.0

11637.0

:

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

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

2015M03
2.1
0.0
0.0
-3.0

2015M04
0.4
-0.1
-0.2
-3.0

2015M05
0.2
0.2
0.3
-2.6

2015M06
0.1
0.2
-0.2
-3.0

2015M07
-1.9
0.4
-0.5
-3.0

2015M08
-0.2
0.3
-0.6
-3.5

2015M09
1.7
0.2
-0.3
-3.9

2015M10
0.4
0.3
-0.3
-3.7

2015M11
-0.4
0.1
-0.5
-4.1

2015M12
0.0
0.1
-0.6
-3.9

2016M01
-2.2
0.4
-0.8
-3.0

2016M02
:
:
:
:

Unemployment rate -  total (2)
Unemployment rate -  
age <25 year (2)
Unemployment rate -  
age >25 year (2)

%

%

%

Labour Cost Index

Employment

Industrial production

Production in construction

Retail trade deflated turnover

Q/Q-1 % (1)

Q/Q-1 % (1)

M/M-1 % (1)
M/M-12 % (3)
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %

2015M03
12.4

2015M04
12.1

2015M05
12.2

2015M06
12.2

2015M07
11.7

2015M08
11.4

2015M09
11.5

2015M10
11.5

2015M11
11.5

2015M12
11.6

2016M01
11.5

2016M02
:

41.8

10.4

2014Q4
-0.2
2014Q4
0.2

2015M03
0.4
1.4
0.0
-4.5
0.4
1.8

41.1

10.3

2015Q1
0.6
2015Q1
0.2

2015M04
-0.3
0.2
0.4
-3.2
0.3
1.9

41.2

10.3

2015Q2
-1.0
2015Q2
0.3

2015M05
0.8
3.1
-0.4
-2.6
-0.1
1.7

42.1

10.3

2015Q3
0.2
2015Q3
0.4

2015M06
-1.0
-0.3
-0.9
-2.4
0.1
1.2

39.2

9.7

2015Q4
:
2015Q4
0.1

2015M07
1.1
2.8
0.7
-0.4
0.5
2.5

39.9

9.7

39.5

9.7

Q/Q-4 % (3)

Q/Q-4 %

2015M09
0.1
1.8
-0.9
-1.0
-0.3
2.2

2015M08
-0.6
1.0
0.0
-4.0
0.2
3.4

39.4

38.1

38.7

39.3

:

:

:

:

2014Q4
-0.3
2014Q4
0.6

2015M10
0.5
3.0
0.0
-3.9
-0.4
1.0

2015Q1
1.0
2015Q1
0.5

2015M11
-0.5
1.1
3.0
4.0
0.6
1.2

2015Q2
-0.6
2015Q2
0.6

2015M12
-0.7
-1.0
-0.6
0.6
-0.1
0.8

2015Q3
-0.4
2015Q3
0.9

2016M01
:
:
:
:
:
:

:

:

2015Q4
:
2015Q4
:

2016M02
:
:
:
:
:
:

General government deficit (-)/ 
surplus (+)

%

-2.4

-5.6

-0.9

-2.4

General government gross debt %

132.3

135.3

136.0

134.6

:

:

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

Economic sentiment indicator (2)  

index

105.8

105.8

105.5

106.2

106.2

105.6

109.0

109.9

109.1

109.5

107.8

106.4

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

3-month interest rate
Long term government  
bond yields 

%

%

2015M03
-

2015M04
-

2015M05
-

2015M06
-

2015M07
-

2015M08
-

2015M09
-

2015M10
-

2015M11
-

2015M12
-

2016M01
-

2016M02
-

1.29

1.36

1.81

2.20

2.04

1.84

1.92

1.70

1.57

1.58

1.53

:

(1)  sca: Seasonally and calendar adjusted data
(2)  sa: Seasonally adjusted data
(3)  ca: Calendar adjusted data, not seasonally adjusted data  
« : » 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)

44

Eurostatistics — 03/2016 edition 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2

Italy

Graph 1: Output

Growth rate

Index

3.0

2.0

1.0

0.0

-1.0
1 0

-2.0

-3.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

Graph 2: Demand

Growth Rate (PFC, 
I)

3.0

2.0

1.0

0.0

-1.0

Growth Rate (RT)

2.0

1.0

0.0

-1.0

-2.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

115

110

105

100

95
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

%

13.0

12.5

12.0

11.5
11.5

11.0

10.5

Growth Rate 

Growth rate

1.0

0.5

0.0

0.5
-0.5

-1.0

-1.5

2.5

2.0

1.5

1.0

0.5

0.0

0.5
-0.5

-1.0

-1.5

-2.0

-2.5

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

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

14000

12000

10000

8000

6000

4000

2000

0

%

6.0

5.0

4.0

3.0
3.0

2.0

1.0

€/$

1.500

1.400

1.300

. 00
1.200

1.100

1.000

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

External trade balance  

BOP current account 

Long-term government bond yields - rates

Euro-dollar exchange rate

  Eurostatistics — 03/2016 edition

45

2

Principal European Economic Indicators (PEEIs)

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)

2014Q4
0.0

-0.5

-24.5

2015Q1
1.3

1.3

30.4

2015Q2
0.5

0.7

-14.5

2015Q3
0.4

2015Q4
:

0.5

7.3

:

:

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2014Q4
-1.8

2015Q1
0.2

2015Q2
1.2

2015Q3
2.3

2015Q4
:

0.2

-0.4

1.3

40.1

1.4

22.4

2.4

-1.3

:

:

External trade balance 
(extra euro area) (2)
External trade balance  
(extra EU28) (2)

BOP Current account 
(All countries of the world)

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

mn euro

mn euro

-60.5

-115.7

-67.0

-117.4

-18.2

-42.5

-33.7

-50.0

-87.3

-42.0

-70.7

-43.5

-78.3

-100.8

-40.6

-65.4

-71.6

-29.9

-87.5

-37.3

:

:

:

:

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

mn euro

-208.0

-658.0

-95.0

73.0

:

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

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

2015M03
0.7
-1.4
-3.1
-5.4

2015M04
0.3
-1.7
-0.5
-5.8

2015M05
1.1
-1.7
0.3
-6.2

2015M06
0.3
-2.1
-0.2
-6.2

2015M07
-0.6
-2.4
0.9
-6.5

2015M08
0.7
-1.9
0.0
-6.6

2015M09
-0.6
-1.9
-0.8
-6.7

2015M10
-0.2
-1.8
0.0
-6.7

2015M11
-1.2
-1.5
-1.9
-6.7

2015M12
-0.6
-0.6
-0.1
-6.9

2016M01
-1.4
-1.1
-1.2
-6.6

2016M02
:
:
:
:

Unemployment rate -  total (2)
Unemployment rate -  
age <25 year (2)
Unemployment rate -  
age >25 year (2)

%

%

%

Labour Cost Index

Employment

Industrial production

Production in construction

Retail trade deflated turnover

Q/Q-1 % (2)

Q/Q-1 % (2)

M/M-1 % (2)
M/M-12 % (3)
M/M-1 % (2)
M/M-12 %
M/M-1 % (2)
M/M-12 %

2015M03
16.1

2015M04
15.6

2015M05
15.3

2015M06
15.3

2015M07
15.2

2015M08
15.2

2015M09
15.1

2015M10
15.3

2015M11
15.6

2015M12
15.7

2016M01
15.3

2016M02
:

35.0

14.1

2014Q4
-0.1
2014Q4
-

2015M03
0.2
0.3
-
-
0.7
-0.4

32.4

13.8

2015Q1
0.0
2015Q1
-

2015M04
2.1
4.8
-
-
1.0
1.6

32.4

13.6

2015Q2
-0.1
2015Q2
-

2015M05
0.7
4.9
-
-
0.7
3.7

32.4

13.5

2015Q3
-0.1
2015Q3
-

2015M06
-2.3
0.0
-
-
-1.1
0.5

32.5

13.4

2015Q4
:
2015Q4
-

2015M07
1.8
3.8
-
-
1.7
4.4

32.5

13.5

32.5

13.5

Q/Q-4 % (3)

Q/Q-4 %

2015M09
-0.7
5.2
-
-
0.5
4.9

2015M08
1.1
3.4
-
-
-0.3
2.9

31.5

13.8

2014Q4
-1.8
2014Q4
0.8

2015M10
-1.0
3.1
-
-
-0.6
3.4

31.5

14.2

2015Q1
-1.6
2015Q1
0.9

2015M11
1.7
7.2
-
-
-0.1
1.6

31.5

14.3

2015Q2
-0.5
2015Q2
0.4

2015M12
-0.2
5.9
-
-
2.0
6.4

:

14.0

2015Q3
-0.5
2015Q3
0.8

2016M01
:
:
-
-
:
:

:

:

2015Q4
:
2015Q4
:

2016M02
:
:
-
-
:
:

General government deficit (-)/ 
surplus (+)

%

-5.9

-0.5

-0.3

2.9

General government gross debt %

108.2

107.5

110.4

109.6

:

:

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

Economic sentiment indicator (1)  

index

102.2

107.1

102.8

103.6

99.6

104.3

104.0

106.9

106.3

106.7

107.4

108.1

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

3-month interest rate
Long term government  
bond yields 

%

%

2015M03
-

2015M04
-

2015M05
-

2015M06
-

2015M07
-

2015M08
-

2015M09
-

2015M10
-

2015M11
-

2015M12
-

2016M01
-

2016M02
-

6.00

6.00

3.96

3.89

3.69

3.69

3.70

3.64

4.00

3.87

3.82

:

(1)  sa: Seasonally adjusted data
(2)  sca: Seasonally and calendar adjusted data
(3)  ca: Calendar adjusted data, not seasonally adjusted data 
« : » 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)

46

Eurostatistics — 03/2016 edition 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2

Cyprus

Graph 1: Output

Growth rate

9.0

6.0

3.0

0.0

-3.0
3 0

-6.0

-9.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

Graph 2: Demand

Growth Rate (PFC, 
I)

90.0

60.0

30.0

0.0

-30.0

-60.0

Growth Rate (RT)

4.0

2.0

0.0

-2.0

-4.0

-6.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

Index

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

%

18.0

17.0

16.0

15.0
15.0

14.0

13.0

Graph  4: Prices

Growth Rate 

Growth Rate

4.0

2.0

0.0

2.0
-2.0

-4.0

-6.0

1.5

1.0

0.5

0.0

-0.5

-1.0

1.5
-1.5

-2.0

-2.5

-3.0

-3.5

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

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

200

100

0

-100

-200

-300

-400

-500

-600

-700

€/$

1.400

1.300

1.200

1.100

1.000

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

External trade balance  

BOP current account 

Euro-dollar exchange rate

  Eurostatistics — 03/2016 edition

47

2

Principal European Economic Indicators (PEEIs)

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)

2014Q4
0.7

2015Q1
0.5

2015Q2
1.2

2015Q3
0.9

2015Q4
-0.3

1.2

2.4

0.7

-1.0

0.6

3.0

1.1

0.9

0.3

-1.4

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2014Q4
2.1

2015Q1
1.8

2015Q2
2.8

2015Q3
3.5

2015Q4
2.7

2.0

0.1

3.1

-1.0

2.4

2.9

5.2

6.0

2.4

1.1

External trade balance 
(extra euro area) (1)
External trade balance 
(extra EU28) (2)

BOP Current account 
(All countries of the world)

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

mn euro

mn euro

29.0

32.2

48.6

77.5

10.7

57.3

18.1

46.2

36.6

79.0

-15.7

24.0

38.8

62.9

24.0

40.3

47.4

80.2

51.0

78.6

:

:

:

:

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

mn euro

-44.0

-52.0

-148.0

-190.0

:

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

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

2015M03
0.8
0.5
-0.7
-0.4

2015M04
0.6
0.6
-0.1
-1.3

2015M05
0.8
1.2
-0.1
-0.3

2015M06
-0.1
0.7
0.1
-0.7

2015M07
-1.1
-0.2
-0.4
-1.5

2015M08
-0.4
0.2
-0.5
-2.1

2015M09
-0.2
-0.4
-0.5
-2.7

2015M10
0.0
-0.1
-0.5
-2.8

2015M11
-0.1
0.0
0.2
-2.3

2015M12
-0.3
0.4
-0.3
-2.5

2016M01
-0.7
-0.3
0.0
-2.8

2016M02
:
:
:
:

Unemployment rate -  total (2)
Unemployment rate -  
age <25 year (2)
Unemployment rate -  
age >25 year (2)

%

%

%

Labour Cost Index

Employment

Industrial production

Production in construction

Retail trade deflated turnover

Q/Q-1 % (1)

Q/Q-1 % (1)

M/M-1 % (1)
M/M-12 % (3)
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %

2015M03
9.8

2015M04
9.5

2015M05
9.7

2015M06
10.1

2015M07
10.1

2015M08
10.0

2015M09
9.9

2015M10
9.9

2015M11
10.0

2015M12
10.1

2016M01
10.4

2016M02
:

15.3

9.3

2014Q4
1.9
2014Q4
0.2

2015M03
10.4
8.7
-
-
1.4
7.7

14.2

9.0

2015Q1
2.4
2015Q1
1.7

2015M04
-0.1
7.6
-
-
-0.8
3.7

15.2

9.2

2015Q2
1.5
2015Q2
0.1

2015M05
-1.4
5.8
-
-
-0.5
6.5

15.6

9.6

2015Q3
1.7
2015Q3
0.3

2015M06
-1.7
3.7
-
-
0.9
7.5

15.2

9.7

2015Q4
:
2015Q4
0.4

2015M07
0.9
5.4
-
-
0.8
5.0

14.6

9.7

15.8

9.4

Q/Q-4 % (3)

Q/Q-4 %

2015M09
-0.8
2.0
-
-
0.0
4.6

2015M08
-1.2
4.0
-
-
0.1
5.9

18.9

9.1

2014Q4
6.1
2014Q4
-1.2

2015M10
-0.3
1.9
-
-
0.8
5.6

20.1

9.0

2015Q1
7.3
2015Q1
-0.1

2015M11
0.3
4.5
-
-
-2.6
0.7

20.0

9.2

2015Q2
7.3
2015Q2
0.6

2015M12
-1.3
2.6
-
-
0.4
2.5

19.8

9.5

2015Q3
7.4
2015Q3
2.4

2016M01
-0.3
4.6
-
-
1.8
3.0

:

:

2015Q4
:
2015Q4
2.6

2016M02
:
:
-
-
:
:

General government deficit (-)/ 
surplus (+)

%

General government gross debt %

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

-10.1

40.8

1.1

35.6

1.1

35.3

0.4

36.4

:

:

Economic sentiment indicator (2)  

index

103.5

104.1

103.4

101.7

102.4

103.6

101.4

102.6

101.6

102.2

103.1

102.7

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

3-month interest rate
Long term government  
bond yields 

%

%

2015M03
-

2015M04
-

2015M05
-

2015M06
-

2015M07
-

2015M08
-

2015M09
-

2015M10
-

2015M11
-

2015M12
-

2016M01
-

2016M02
-

0.56

0.42

0.84

1.28

1.25

0.96

1.03

1.07

1.19

1.08

1.05

:

(1)  sca: Seasonally and calendar adjusted data
(2)  sa: Seasonally adjusted data
(3)  ca: Calendar adjusted data, not seasonally adjusted data 
« : » 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)

48

Eurostatistics — 03/2016 edition 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2

Latvia

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)

6.0

4.0

2.0

0.0

-2.0

-4.0

110

105

100

95

90

85

Growth Rate (RT)

6.0

4.0

2.0

0.0

-2.0

-4.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

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

9.5

9.0

Growth Rate 
3.0

Growth Rate
1.0

2.0

1.0

0.0

-1.0

-2.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

Employment (q/q-1)

Labour cost index  (q/q-1)

Unemployment rate Total (%)

0.5

0.0

0.5
-0.5

-1.0

-1.5

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

HICP (m/m-1)

Industrial producer prices (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

millions  euro

100

50

0

-50

-100

-150

-200

-250

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

External trade balance  

BOP current account 

%

4.0

3.0

2.0

1.0

0.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

Long-term government bond yields - rates

Euro-dollar exchange rate

€/$

1.400

1.300

1.200

1.100

1.000

  Eurostatistics — 03/2016 edition

49

2

Principal European Economic Indicators (PEEIs)

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)

2014Q4
0.3

2015Q1
0.3

2015Q2
0.6

2015Q3
0.5

2015Q4
0.5

1.9

0.8

0.7

6.1

1.6

4.5

1.3

0.2

0.8

-1.1

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2014Q4
1.7

2015Q1
1.3

2015Q2
1.4

2015Q3
1.7

2015Q4
1.9

4.6

1.6

4.6

8.0

5.1

13.4

5.4

9.8

4.3

9.8

External trade balance 
(extra EU28) (2)

BOP Current account 
(All countries of the world)

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

mn euro

-34.1

7.8

-12.3

-48.2

14.5

21.8

32.1

108.5

218.5

59.9

:

:

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

mn euro

633.7

-355.1

-517.8

-173.8

:

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

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

2015M03
0.8
-1.1
-0.3
-9.1

2015M04
0.7
-0.6
0.3
-8.7

2015M05
0.6
0.0
-0.3
-7.9

2015M06
-0.2
-0.2
-1.3
-8.4

2015M07
-0.5
-0.2
-0.2
-8.3

2015M08
-0.9
-1.0
-1.6
-9.6

2015M09
0.6
-0.8
-1.1
-10.5

2015M10
0.5
-0.4
-0.7
-10.5

2015M11
-0.1
-0.5
0.0
-9.1

2015M12
-0.4
-0.2
-0.9
-8.1

2016M01
-0.4
0.7
0.6
-4.7

2016M02
:
:
:
:

Unemployment rate -  total (2)
Unemployment rate -  
age <25 year (2)
Unemployment rate -  
age >25 year (2)

%

%

%

Labour Cost Index

Employment

Industrial production

Production in construction

Retail trade deflated turnover

Q/Q-1 % (1)

Q/Q-1 % (1)

M/M-1 % (1)
M/M-12 % (3)
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %

2015M03
9.3

2015M04
9.4

2015M05
9.2

2015M06
9.5

2015M07
9.2

2015M08
9.0

2015M09
8.9

2015M10
8.9

2015M11
8.8

2015M12
8.9

2016M01
9.0

2016M02
:

18.1

8.4

2014Q4
1.9
2014Q4
-0.7

2015M03
-3.8
6.3
-
-
1.3
5.6

17.4

8.6

2015Q1
1.1
2015Q1
0.0

2015M04
3.4
2.9
-
-
0.4
5.4

17.0

8.5

2015Q2
0.9
2015Q2
0.9

2015M05
1.9
3.3
-
-
0.2
5.0

16.6

8.8

2015Q3
1.9
2015Q3
0.5

2015M06
0.5
7.5
-
-
0.9
7.6

16.5

8.5

2015Q4
:
2015Q4
-0.3

2015M07
0.7
6.6
-
-
0.0
5.5

15.9

8.4

15.2

8.3

Q/Q-4 % (3)

Q/Q-4 %

2015M09
-1.5
-0.1
-
-
0.2
6.1

2015M08
-3.4
5.5
-
-
0.0
6.2

14.1

8.4

2014Q4
5.2
2014Q4
1.9

2015M10
10.7
6.7
-
-
0.6
6.7

13.7

8.4

2015Q1
5.9
2015Q1
1.7

2015M11
-2.0
5.7
-
-
-0.1
4.7

13.9

8.4

2015Q2
4.3
2015Q2
2.1

2015M12
-3.3
3.5
-
-
0.8
5.2

14.4

8.5

2015Q3
5.7
2015Q3
0.1

2016M01
1.3
10.5
-
-
-0.3
5.0

:

:

2015Q4
:
2015Q4
1.3

2016M02
:
:
-
-
:
:

General government deficit (-)/ 
surplus (+)

%

General government gross debt %

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

-1.0

40.7

-2.7

38.0

1.6

37.6

1.8

38.1

:

:

Economic sentiment indicator (2)  

index

104.6

104.6

102.1

101.8

103.5

102.9

104.6

105.6

106.2

105.7

106.1

105.0

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

3-month interest rate
Long term government  
bond yields 

%

%

2015M03
-

2015M04
-

2015M05
-

2015M06
-

2015M07
-

2015M08
-

2015M09
-

2015M10
-

2015M11
-

2015M12
-

2016M01
-

2016M02
-

1.11

0.58

0.99

1.41

1.64

1.64

1.64

1.64

1.57

1.49

1.47

:

(1)  sca: Seasonally and calendar adjusted data
(2)  sa: Seasonally adjusted data
(3)  ca: Calendar adjusted data, not seasonally adjusted data 
« : » 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)

50

Eurostatistics — 03/2016 edition 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2

Lithuania

Graph 1: Output

Growth rate

Index

12.0

8.0

4.0

0.0

-4.0
4 0

-8.0

-12.0

Graph 2: Demand

Growth Rate (PFC, 
I)

30.0

20.0

10.0

0.0

-10.0

-20.0

115

110

105

100

95
95

90

85

Growth Rate (RT)

3.0

2.0

1.0

0.0

-1.0

-2.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

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

%

11.0

10.5

10.0

9.5

9.0

8.5

8.0

Growth Rate 

Growth Rate

4.0

3.0

2.0

1.0

0.0

-1.0

-2.0

1

1

0

-1

-1

-2

-2

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

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

300

200

100

0

-100

-200

-300

-400

-500

-600

%

10.0

8.0

6.0

4.0

2.0

0.0

Lithuanian Litas/€

1.500

1.400

1.300

1.200

1.100

1.000

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

External trade balance  

BOP current account 

Long-term government bond yields - rates

Lithuanian Litas exchange rates against the euro

  Eurostatistics — 03/2016 edition

51

2

Principal European Economic Indicators (PEEIs)

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)

2014Q4
3.2

2015Q1
-0.2

2.1

4.9

-3.6

0.6

2015Q2
1.4

1.7

-11.9

2015Q3
0.9

2015Q4
:

0.4

8.1

:

:

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2014Q4
6.7

2015Q1
5.5

2015Q2
6.2

2015Q3
5.5

2015Q4
:

4.3

22.2

-0.8

5.3

0.2

-0.7

0.6

0.9

:

:

External trade balance 
(extra euro area) (2)
External trade balance 
(extra EU28) (2)

BOP Current account 
(All countries of the world)

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

mn euro

-439.0

-227.5

-108.7

-240.6

-165.9

-182.7

-347.4

-120.6

-127.3

-158.8

mn euro

-498.2

-325.3

-204.6

-325.1

-230.2

-260.7

-407.0

-213.8

-191.7

-219.8

:

:

:

:

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

mn euro

171.0

176.0

1061.0

986.0

:

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

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

2015M03
0.4
0.1
-0.1
1.1

2015M04
0.1
0.0
0.1
0.8

2015M05
0.5
0.4
0.1
0.7

2015M06
0.2
0.5
-0.1
0.6

2015M07
-1.3
0.2
-0.7
0.6

2015M08
0.8
0.1
-0.6
-1.8

2015M09
-0.3
-0.2
-0.1
-1.6

2015M10
-0.2
-0.1
-0.2
-2.0

2015M11
0.1
0.4
-0.6
-2.6

2015M12
-0.5
0.9
-0.4
-3.0

2016M01
-1.5
0.5
0.5
-1.9

2016M02
:
:
:
:

Unemployment rate -  total (2)
Unemployment rate -  
age <25 year (2)
Unemployment rate -  
age >25 year (2)

%

%

%

Labour Cost Index

Employment

Industrial production

Production in construction

Retail trade deflated turnover

Q/Q-1 % (1)

Q/Q-1 % (1)

M/M-1 % (1)
M/M-12 % (3)
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %

2015M03
6.3

2015M04
6.2

2015M05
6.2

2015M06
6.1

2015M07
6.0

2015M08
6.0

2015M09
6.0

2015M10
6.0

2015M11
5.9

2015M12
6.0

2016M01
5.8

2016M02
:

18.1

5.3

2014Q4
-1.9
2014Q4
0.7

2015M03
-0.2
3.0
4.2
2.4
1.9
4.4

15.2

5.3

2015Q1
1.6
2015Q1
0.6

2015M04
-1.1
2.3
-3.2
-1.1
-1.7
-2.9

15.0

5.3

2015Q2
0.8
2015Q2
0.7

2015M05
-1.9
-1.3
-4.9
-5.9
1.9
1.6

14.8

5.3

2015Q3
-0.7
2015Q3
0.6

2015M06
1.4
1.6
4.5
3.9
1.2
4.7

12.4

5.3

2015Q4
:
2015Q4
:

2015M07
-2.4
-4.0
4.3
9.3
2.4
12.9

12.5

5.3

12.4

5.2

Q/Q-4 % (3)

Q/Q-4 %

2015M09
-3.1
-2.8
3.7
-1.4
1.2
14.5

2015M08
4.0
3.5
-7.5
-14.7
0.3
12.6

12.5

5.2

2014Q4
-0.2
2014Q4
2.6

2015M10
1.1
0.1
0.2
-0.8
-4.6
-2.0

12.0

5.3

2015Q1
0.6
2015Q1
2.4

2015M11
5.0
5.7
3.2
2.6
4.1
9.1

12.1

5.3

2015Q2
1.2
2015Q2
2.5

2015M12
-3.9
-4.3
-1.9
-0.7
0.9
9.1

11.7

5.1

2015Q3
-0.4
2015Q3
2.6

2016M01
:
:
:
:
-1.2
5.0

:

:

2015Q4
:
2015Q4
:

2016M02
:
:
:
:
:
:

General government deficit (-)/ 
surplus (+)

%

General government gross debt %

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

1.2

22.9

-1.3

22.2

2.6

21.6

-2.0

21.3

:

:

Economic sentiment indicator (2)  

index

90.2

92.3

96.7

94.7

94.8

95.7

95.2

94.1

96.2

97.4

97.4

97.1

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

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

%

%

2015M03
-

2015M04
-

2015M05
-

2015M06
-

2015M07
-

2015M08
-

2015M09
-

2015M10
-

2015M11
-

2015M12
-

2016M01
-

2016M02
-

0.16

0.06

0.42

0.65

0.56

0.45

0.43

0.31

0.25

0.27

0.72

:

(1)  sca: Seasonally and calendar adjusted data
(2)  sa: Seasonally adjusted data
(3)  ca: Calendar adjusted data, not seasonally adjusted data  
« : » 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)

52

Eurostatistics — 03/2016 edition 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2

Graph 2: Demand

Index

100

Growth Rate (PFC, 
I)

20.0

Luxembourg

Graph 1: Output

Growth rate

6.0

3.0

0.0

-3.0

-6.0

-9.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

95

90

85

80

75

10.0

0.0

-10.0

-20.0

Growth Rate (RT)

8.0

4.0

0.0

-4.0

-8.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

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

%

6.4

6.2

6.0

5.8

5.6

5.4

Growth Rate 

Growth Rate

3.0

2.0

1.0

0.0

-1.0

-2.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

Employment (q/q-1)

Labour cost index  (q/q-1)

Unemployment rate Total (%)

1

1

0

-1

-1

-2

-2

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

HICP (m/m-1)

Industrial producer prices (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

millions  euro
1200

1000

800

600

400

200

0

-200

-400

-600

%

2.50

2.00

1.50

1.00
1.00

0.50

0.00

€/$

1.500

1.400

1.300

1.200
1.200

1.100

1.000

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

External trade balance  

BOP current account 

Long-term government bond yields - rates

Euro-dollar exchange rate

  Eurostatistics — 03/2016 edition

53

2

Principal European Economic Indicators (PEEIs)

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)

2014Q4
0.7

2015Q1
0.5

2015Q2
0.5

2015Q3
0.6

2015Q4
:

1.5

-1.2

0.5

-0.7

0.6

1.6

0.4

-0.8

:

:

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2014Q4
3.3

2015Q1
3.5

2015Q2
2.7

2015Q3
2.4

2015Q4
:

2.9

1.4

3.0

-5.5

2.7

5.0

2.7

-1.5

:

:

External trade balance 
(extra EU28) (2)

BOP Current account 
(All countries of the world)

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

mn euro

-276.2

-258.4

-319.7

-211.8

-235.8

-329.7

-340.3

-311.7

-322.0

-191.6

:

:

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

mn euro

538.5

1674.4

1108.7

1600.4

:

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

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

2015M03
0.6
-0.5
0.8
-3.4

2015M04
0.4
0.0
-0.4
-3.6

2015M05
0.7
0.6
1.6
-1.2

2015M06
0.2
0.7
0.5
-1.1

2015M07
0.0
0.5
-0.6
-1.8

2015M08
-0.6
0.1
-1.2
-3.2

2015M09
-0.6
-0.1
-0.2
-3.7

2015M10
0.3
0.2
-0.7
-3.7

2015M11
0.0
0.6
-0.1
-3.1

2015M12
-0.3
1.0
-0.5
-2.7

2016M01
-0.1
1.0
-2.2
-3.0

2016M02
:
:
:
:

Unemployment rate -  total (2)
Unemployment rate -  
age <25 year (2)
Unemployment rate -  
age >25 year (2)

%

%

%

Labour Cost Index

Employment

Industrial production

Production in construction

Retail trade deflated turnover

Q/Q-1 % (1)

Q/Q-1 % (1)

M/M-1 % (1)
M/M-12 % (3)
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %

2015M03
7.3

2015M04
7.1

2015M05
7.0

2015M06
6.9

2015M07
6.8

2015M08
6.5

2015M09
6.5

2015M10
6.4

2015M11
6.3

2015M12
6.1

2016M01
:

2016M02
:

19.3

6.4

2014Q4
1.3
2014Q4
0.1

2015M03
2.5
8.8
7.3
13.3
0.0
6.1

18.6

6.1

2015Q1
0.9
2015Q1
1.4

2015M04
0.1
6.3
-2.9
8.6
-0.2
5.0

18.5

6.0

2015Q2
1.0
2015Q2
0.5

2015M05
-0.2
6.4
-3.2
1.5
0.4
5.5

17.7

6.0

2015Q3
1.0
2015Q3
0.8

2015M06
1.0
5.9
-0.3
9.4
0.6
6.2

17.5

5.9

2015Q4
:
2015Q4
:

2015M07
-0.6
3.6
-4.0
-2.2
0.5
6.8

15.8

5.8

15.6

5.8

Q/Q-4 % (3)

Q/Q-4 %

2015M09
2.9
7.9
7.8
7.2
0.5
5.1

2015M08
-1.8
6.3
-2.7
-7.0
-0.3
4.6

14.9

5.7

2014Q4
3.4
2014Q4
4.1

2015M10
1.6
12.8
-7.8
-9.1
0.4
4.7

15.5

5.6

2015Q1
3.5
2015Q1
3.1

2015M11
-1.4
7.1
4.6
-0.2
0.4
4.3

14.2

5.5

2015Q2
3.1
2015Q2
2.6

2015M12
-0.7
6.9
2.2
8.0
0.3
4.5

:

:

2015Q3
4.6
2015Q3
2.7

2016M01
-0.1
2.2
:
:
-0.1
2.1

:

:

2015Q4
:
2015Q4
:

2016M02
:
:
:
:
:
:

General government deficit (-)/ 
surplus (+)

%

General government gross debt %

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

-1.8

76.2

-2.5

76.8

0.5

78.7

0.4

78.0

:

:

Economic sentiment indicator (2)  

index

112.7

112.5

112.7

112.6

112.2

112.9

116.1

115.4

112.4

113.2

115.6

111.7

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

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

%

%

2015M03
1.82

2015M04
1.64

2015M05
1.42

2015M06
1.57

2015M07
1.26

2015M08
1.14

2015M09
1.29

2015M10
1.32

2015M11
1.25

2015M12
1.35

2016M01
1.19

2016M02
:

3.29

3.28

3.59

3.86

3.72

3.61

3.50

3.28

3.34

3.47

3.36

:

Average

303.45

299.43

306.33

311.96

311.53

311.61

313.14

311.27

312.27

314.40

314.68

310.37

(1)  sca: Seasonally and calendar adjusted data
(2)  sa: Seasonally adjusted data
(3)  ca: Calendar adjusted data, not seasonally adjusted data 
« : » 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)

54

Eurostatistics — 03/2016 edition 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2

Hungary

Graph 1: Output

Growth rate

Index

6.0

3.0

0.0

-3.0

-6.0

130

120

110

100

90

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

GDP (q/q-1)

Industrial Production (m/m-1)

Economic Sentiment Indicator

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

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

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

Investment (I) (q/q-1)

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

Graph 3: Labour

Graph  4: Prices

%

11.0

10.0

9.0

8.0

7.0

6.0

Growth Rate 

Growth Rate

3.0

2.0

1.0

0.0

-1.0

-2.0

2.0

1.5

1.0

0.5

0.0

-0.5

-1.0

-1.5

-2.0

-2.5

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

HICP (m/m-1)

Industrial producer prices (m/m-1)

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

Employment (q/q-1)

Labour cost index  (q/q-1)

Unemployment rate Total (%)

Graph 5: External Transactions

Graph 6: Financial

millions  euro

3000

2000

1000

0

-1000

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

%

8.0

6.0

4.0

2.0

0.0

Hungarian forin/€

320

305

290

275
275

260

245

External trade balance  

BOP current account 

3-month interest rates

Long-term government bond yields - rates

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

Hungarian forint exchange rates against the euro

  Eurostatistics — 03/2016 edition

55

2

Principal European Economic Indicators (PEEIs)

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)

2014Q4
2.3

2015Q1
0.7

2015Q2
1.4

2015Q3
1.1

2015Q4
:

1.4

22.1

1.0

-1.9

0.4

6.7

0.8

9.1

:

:

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2014Q4
5.8

2015Q1
5.2

2015Q2
5.8

2015Q3
5.4

2015Q4
:

3.5

12.2

5.6

0.3

2.5

28.4

5.1

39.7

:

:

External trade balance 
(extra euro area) (2)
External trade balance  
(extra EU28) (2)

BOP Current account 
(All countries of the world)

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

mn euro

mn euro

-144.1

-102.0

27.4

77.4

-102.0

-154.0

-123.2

-46.2

-99.9

-65.9

-95.0

-67.2

-74.1

-27.1

-25.1

14.3

-70.5

-39.3

-23.4

13.5

:

:

:

:

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

mn euro

9.8

-23.3

246.1

357.2

:

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

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

2015M03
0.9
0.5
0.1
-1.8

2015M04
2.8
1.4
-4.4
-4.0

2015M05
0.9
1.3
0.1
-3.9

2015M06
1.0
1.1
0.0
-3.9

2015M07
0.0
1.2
0.0
-3.9

2015M08
0.3
1.4
-0.1
-4.0

2015M09
-0.8
1.6
0.5
-3.4

2015M10
-0.6
1.6
0.0
-3.3

2015M11
-2.5
1.3
0.3
-3.0

2015M12
-0.1
1.3
0.1
-2.9

2016M01
-1.6
0.8
0.1
-3.2

2016M02
:
:
:
:

Unemployment rate -  total (2)
Unemployment rate -  
age <25 year (2)
Unemployment rate -  
age >25 year (2)

%

%

%

Labour Cost Index

Employment

Industrial production

Production in construction

Retail trade deflated turnover

Q/Q-1 % (1)

Q/Q-1 % (1)

M/M-1 % (1)
M/M-12 % (3)
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %

2015M03
5.8

2015M04
5.5

2015M05
5.4

2015M06
5.3

2015M07
5.3

2015M08
5.2

2015M09
5.2

2015M10
5.2

2015M11
5.1

2015M12
5.1

2016M01
5.1

2016M02
:

11.5

4.8

2014Q4
0.7
2014Q4
-

2015M03
0.1
1.2
-
-
2.3
12.9

12.0

4.5

2015Q1
-0.5
2015Q1
-

2015M04
0.1
9.0
-
-
-1.2
5.4

12.5

4.3

2015Q2
0.9
2015Q2
-

2015M05
1.9
10.8
-
-
1.2
8.3

12.6

4.2

2015Q3
0.5
2015Q3
-

2015M06
1.7
5.9
-
-
-0.2
6.2

12.7

4.1

2015Q4
:
2015Q4
-

2015M07
-1.5
9.1
-
-
1.7
11.2

12.7

4.0

12.8

3.9

Q/Q-4 % (3)

Q/Q-4 %

2015M09
-0.1
4.7
-
-
-0.1
2.7

2015M08
-1.0
8.4
-
-
-1.0
5.2

13.1

3.9

2014Q4
4.1
2014Q4
4.9

2015M10
1.8
6.3
-
-
1.2
5.0

12.9

3.9

2015Q1
1.9
2015Q1
3.9

2015M11
-3.2
1.8
-
-
-0.2
3.1

12.7

3.8

2015Q2
2.5
2015Q2
2.7

2015M12
0.5
5.7
-
-
0.6
3.3

13.0

3.8

2015Q3
1.4
2015Q3
0.9

2016M01
:
:
-
-
:
:

:

:

2015Q4
:
2015Q4
:

2016M02
:
:
-
-
:
:

General government deficit (-)/ 
surplus (+)

%

General government gross debt %

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

3.7

66.9

-8.4

68.5

-2.3

67.4

-0.3

66.3

:

:

Economic sentiment indicator (2)  

index

113.0

114.8

113.7

110.2

109.9

107.8

110.6

116.1

108.9

108.3

108.0

107.5

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

3-month interest rate
Long term government  
bond yields 

%

%

2015M03
-

2015M04
-

2015M05
-

2015M06
-

2015M07
-

2015M08
-

2015M09
-

2015M10
-

2015M11
-

2015M12
-

2016M01
-

2016M02
-

1.31

1.15

1.50

1.79

1.78

1.57

1.61

1.37

1.29

1.29

1.25

:

(1)  sca: Seasonally and calendar adjusted data
(2)  sa: Seasonally adjusted data
(3)  ca: Calendar adjusted data, not seasonally adjusted data 
« : » 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)

56

Eurostatistics — 03/2016 edition 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
Malta

Graph 1: Output

Growth rate

9.0

6.0

3.0

0.0

-3.0
3 0

-6.0

-9.0

Principal European Economic Indicators (PEEIs)

2

Graph 2: Demand

Growth Rate (PFC, 
I)

30.0

15.0

0.0

-15.0

125.0

120.0

115.0

110.0

105.0
105 0

100.0

Growth Rate (RT)

8.0

4.0

0.0

-4.0

-8.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

95.0

-30.0

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

%

6.6

6.2

5.8

5.4

5.0

Growth Rate 

Growth Rate

4.0

2.0

0.0

-2.0

-4.0

4.0

2.0

0.0

-2.0

-4.0

-6.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

HICP (m/m-1)

Industrial producer prices (m/m-1)

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

Labour cost index  (q/q-1)

Unemployment rate Total (%)

Graph 5: External Transactions

Graph 6: Financial

millions  euro

400

300

200

100

0

-100

-200

%

3.5

3.0

2.5

2.0
2 0

1.5

1.0

€/$

1.500

1.400

1.300

1.200
1 200

1.100

1.000

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

External trade balance  

BOP current account 

Long-term government bond yields - rates

Euro-dollar exchange rate

  Eurostatistics — 03/2016 edition

57

2

Principal European Economic Indicators (PEEIs)

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)

2014Q4
0.9

2015Q1
0.6

2015Q2
0.1

2015Q3
0.1

2015Q4
0.3

0.9

2.7

0.6

2.7

0.3

3.4

0.0

0.8

-0.1

3.3

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2014Q4
1.6

2015Q1
2.5

2015Q2
1.8

2015Q3
1.9

2015Q4
1.6

0.7

4.4

1.7

8.1

1.6

12.5

1.8

10.3

1.1

10.0

External trade balance 
(extra euro area) (2)
External trade balance  
(extra EU28) (2)

BOP Current account 
(All countries of the world)

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

mn euro

-7483.4

-7693.0

-7446.1

-6615.6

-6254.6

-6736.8

-6697.5

-6478.0

-5975.2

-6720.0

mn euro

-11020.7 -11311.3 -11160.3

-10383.4

-9657.6 -10299.6 -10006.4

-9943.8

-9801.6 -10041.7

:

:

:

:

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

mn euro

14933.0

22436.0

15437.0

12437.0

:

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

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

2015M03
1.3
-0.3
1.5
-6.4

2015M04
0.8
0.0
0.5
-5.7

2015M05
0.3
0.7
-0.2
-5.5

2015M06
-0.6
0.5
0.1
-5.6

2015M07
0.7
0.8
-0.5
-5.6

2015M08
-0.5
0.4
-2.1
-7.3

2015M09
-0.2
0.3
-0.7
-8.2

2015M10
0.0
0.4
-1.1
-8.4

2015M11
-0.8
0.4
-0.5
-8.0

2015M12
-0.1
0.5
-2.4
-7.2

2016M01
-1.5
0.2
-3.1
-6.8

2016M02
:
:
:
:

Unemployment rate -  total (2)
Unemployment rate -  
age <25 year (2)
Unemployment rate -  
age >25 year (2)

%

%

%

Labour Cost Index

Employment

Industrial production

Production in construction

Retail trade deflated turnover

Q/Q-1 % (1)

Q/Q-1 % (2)

M/M-1 % (1)
M/M-12 % (3)
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %

2015M03
7.0

2015M04
7.0

2015M05
6.9

2015M06
6.9

2015M07
6.8

2015M08
6.8

2015M09
6.8

2015M10
6.9

2015M11
6.7

2015M12
6.6

2016M01
6.5

2016M02
:

10.8

6.3

2014Q4
1.1
2014Q4
0.3

2015M03
-4.4
1.5
2.7
12.6
-0.7
2.3

10.9

6.3

2015Q1
-1.3
2015Q1
0.0

2015M04
-1.3
-4.6
-1.0
7.9
0.2
1.8

11.1

6.1

2015Q2
0.4
2015Q2
0.3

2015M05
-5.0
-7.1
2.2
15.9
-0.3
1.8

11.1

6.1

2015Q3
-0.1
2015Q3
0.3

2015M06
4.2
-1.8
1.2
17.4
1.2
3.2

11.3

5.9

2015Q4
:
2015Q4
0.5

2015M07
-3.2
-6.3
-1.9
12.1
-0.7
2.4

11.2

5.9

11.5

6.0

Q/Q-4 % (3)

Q/Q-4 %

2015M09
3.5
-5.8
1.8
9.8
-0.3
3.7

2015M08
-3.3
-10.0
-0.5
7.5
0.4
1.4

11.6

6.0

2014Q4
4.3
2014Q4
0.7

2015M10
4.0
-2.4
-1.1
3.5
0.2
1.9

11.2

5.9

2015Q1
0.8
2015Q1
0.6

2015M11
-2.8
-7.5
0.2
2.6
-0.2
0.6

11.2

5.8

2015Q2
1.1
2015Q2
0.8

2015M12
1.5
-9.4
-0.9
-3.1
1.0
2.0

11.2

5.6

2015Q3
0.0
2015Q3
1.1

2016M01
:
:
:
:
:
:

:

:

2015Q4
:
2015Q4
0.9

2016M02
:
:
:
:
:
:

General government deficit (-)/ 
surplus (+)

%

General government gross debt %

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

0.0

68.2

-0.1

69.2

-3.8

67.1

-2.9

66.3

:

:

Economic sentiment indicator (2)  

index

102.4

103.4

104.3

104.7

105.1

104.8

106.0

103.6

106.7

104.3

104.9

102.9

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

3-month interest rate
Long term government  
bond yields 

%

%

2015M03
-

2015M04
-

2015M05
-

2015M06
-

2015M07
-

2015M08
-

2015M09
-

2015M10
-

2015M11
-

2015M12
-

2016M01
-

2016M02
-

0.33

0.31

0.75

1.05

0.99

0.85

0.87

0.73

0.72

0.75

0.65

:

(1)  sca: Seasonally and calendar adjusted data
(2)  sa: Seasonally adjusted data
(3)  ca: Calendar adjusted data, not seasonally adjusted data 
« : » 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)

58

Eurostatistics — 03/2016 edition 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2

Netherlands

Graph 1: Output

Growth rate

Index

10.0

5.0

0.0

-5.0

-10.0

Graph 2: Demand

Growth Rate (PFC, 
I)

6.0

4.0

2.0

0.0

-2.0

-4.0

115

110

105

100

95

Growth Rate (RT)

2.0

1.0

0.0

-1.0

-2.0

-3.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

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

6.0

Growth Rate 

Growth Rate

2.0

1.0

0.0

-1.0

-2.0

-3.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

Employment (q/q-1)

Labour cost index  (q/q-1)

Unemployment rate Total (%)

2.0

1.0

0.0

-1.0

-2.0

-3.0

-4.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

HICP (m/m-1)

Industrial producer prices (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

millions  euro

25000

20000

15000

10000

5000

0

-5000

-10000

-15000

%

2.5

2.0

1.5

1.0
1 0

0.5

0.0

€/$

1.500

1.400

1.300

1.200
1 200

1.100

1.000

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

External trade balance  

BOP current account 

Long-term government bond yields - rates

Euro-dollar exchange rate

  Eurostatistics — 03/2016 edition

59

2

Principal European Economic Indicators (PEEIs)

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)

2014Q4
-0.2

2015Q1
0.7

2015Q2
0.3

2015Q3
0.0

2015Q4
0.2

-0.2

-0.1

0.1

-0.1

0.2

0.9

0.1

0.8

0.3

-0.2

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2014Q4
-0.2

2015Q1
0.5

2015Q2
0.9

2015Q3
1.0

2015Q4
1.1

0.3

-1.5

0.0

-1.5

0.3

0.1

0.5

1.5

0.7

1.2

External trade balance 
(extra euro area) (2)
External trade balance  
(extra EU28) (2)

BOP Current account 
(All countries of the world)

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

mn euro

1365.4

1239.7

1324.2

1147.5

1149.1

1381.2

1081.5

1180.7

1072.0

1067.4

mn euro

861.8

747.5

798.0

658.5

678.8

869.4

666.3

665.1

606.3

654.1

:

:

:

:

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

mn euro

3347.0

4118.0

315.0

1344.0

:

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

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

2015M03
1.4
0.9
-0.1
-1.5

2015M04
0.1
0.9
-0.1
-1.6

2015M05
0.2
1.0
-0.1
-1.6

2015M06
0.0
1.0
-0.1
-1.7

2015M07
-0.5
1.1
-0.2
-1.8

2015M08
-0.2
1.0
-0.4
-1.9

2015M09
0.5
0.6
-0.3
-2.5

2015M10
0.1
0.7
-0.4
-2.7

2015M11
0.0
0.5
-0.3
-2.8

2015M12
0.6
1.1
-0.4
-2.6

2016M01
-1.1
1.4
-0.9
-2.8

2016M02
:
:
:
:

Unemployment rate -  total (2)
Unemployment rate -  
age <25 year (2)
Unemployment rate -  
age >25 year (2)

%

%

%

Labour Cost Index

Employment

Industrial production

Production in construction

Retail trade deflated turnover

Q/Q-1 % (1)

Q/Q-1 % (1)

M/M-1 % (1)
M/M-12 % (3)
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %

2015M03
5.6

2015M04
5.8

2015M05
6.0

2015M06
5.8

2015M07
5.7

2015M08
5.7

2015M09
5.7

2015M10
5.7

2015M11
5.9

2015M12
5.9

2016M01
5.9

2016M02
:

10.3

4.9

2014Q4
-0.4
2014Q4
0.1

2015M03
-1.1
2.4
1.6
-1.9
-1.0
1.2

10.6

5.1

2015Q1
1.2
2015Q1
0.2

2015M04
-0.3
0.6
-1.3
-2.7
0.4
1.5

10.7

5.3

2015Q2
0.3
2015Q2
0.2

2015M05
0.0
1.8
-2.8
-3.4
-1.0
0.8

10.5

5.1

2015Q3
-0.3
2015Q3
0.2

2015M06
0.7
-0.4
0.4
-3.7
1.8
1.9

10.4

5.0

2015Q4
:
2015Q4
0.3

2015M07
1.4
4.0
-0.2
-2.7
-0.5
2.3

11.0

4.9

11.3

4.9

Q/Q-4 % (3)

Q/Q-4 %

2015M09
-0.5
1.4
-0.3
-2.9
0.7
2.0

2015M08
-1.6
3.0
0.2
-1.3
-0.2
0.6

11.5

4.9

2014Q4
2.0
2014Q4
0.8

2015M10
2.0
4.1
-2.2
-5.9
-0.4
2.1

11.5

5.1

2015Q1
2.8
2015Q1
0.6

2015M11
-1.0
3.8
4.6
0.9
-0.7
1.1

11.6

5.1

2015Q2
1.7
2015Q2
0.6

2015M12
-1.7
-1.9
-2.6
-2.6
1.0
1.5

11.8

5.1

2015Q3
0.7
2015Q3
0.6

2016M01
:
:
:
:
-1.1
-0.5

:

:

2015Q4
:
2015Q4
0.8

2016M02
:
:
:
:
:
:

General government deficit (-)/ 
surplus (+)

%

General government gross debt %

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

-4.4

84.2

-4.2

84.9

-0.9

86.3

0.0

85.3

:

:

Economic sentiment indicator (2)  

index

94.4

93.6

94.7

95.5

96.8

98.8

98.5

97.1

98.5

101.6

101.3

95.1

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

3-month interest rate
Long term government  
bond yields 

%

%

2015M03
-

2015M04
-

2015M05
-

2015M06
-

2015M07
-

2015M08
-

2015M09
-

2015M10
-

2015M11
-

2015M12
-

2016M01
-

2016M02
-

0.37

0.29

0.73

1.06

1.08

0.96

0.97

0.83

0.82

0.86

0.77

:

(1)  sca: Seasonally and calendar adjusted data
(2)  sa: Seasonally adjusted data
(3)  ca: Calendar adjusted data, not seasonally adjusted data  
« : » 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)

60

Eurostatistics — 03/2016 edition 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2

Austria

Graph 1: Output

Growth rate

Index

6.0

4.0

2.0

0.0

-2.0

-4.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

Graph 2: Demand

Growth Rate (PFC, 
I)

2.0

1.0

0.0

-1.0

-2.0

Growth Rate (RT)

4.0

2.0

0.0

-2.0

-4.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

110

100

90

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

Graph  4: Prices

%

6.5

6.0

5.5

5.0

4.5

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

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

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
4500

4000

3500

3000

2500

2000

1500

1000

500

0

%

2.5

2.0

1.5

1.0

0.5

0.0

€/$

1.500

1.400

1.300

1.200

1.100

1.000

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

External trade balance  

BOP current account 

Long-term government bond yields - rates

Euro-dollar exchange rate

  Eurostatistics — 03/2016 edition

61

2

Principal European Economic Indicators (PEEIs)

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)

2014Q4
1.0

2015Q1
1.0

2015Q2
0.6

2015Q3
0.9

2015Q4
1.1

0.9

1.8

0.7

2.0

0.7

0.3

0.6

1.2

0.5

1.3

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2014Q4
3.8

2015Q1
3.9

2015Q2
3.4

2015Q3
3.5

2015Q4
3.8

3.1

9.6

3.6

11.3

3.5

6.0

2.6

4.9

2.2

4.9

External trade balance 
(extra EU28) (2)

BOP Current account 
(All countries of the world)

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

mn euro

-975.6

-1702.2

-903.9

-1309.3

-1467.4

-1540.5

-1615.5

-1049.8

-1300.3

-902.4

:

:

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

mn euro

-1213.9

896.8

863.0

-2528.8

:

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

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

2015M03
0.3
-1.2
0.4
-2.6

2015M04
0.4
-0.8
-0.1
-2.5

2015M05
0.1
-0.6
0.2
-2.1

2015M06
0.1
-0.5
0.4
-1.7

2015M07
-0.1
-0.5
-0.4
-2.1

2015M08
-0.3
-0.4
-0.8
-3.0

2015M09
-0.3
-0.7
-0.2
-3.0

2015M10
0.1
-0.6
0.0
-2.4

2015M11
-0.1
-0.5
0.1
-1.8

2015M12
-0.2
-0.4
-0.2
-0.8

2016M01
-0.2
-0.3
-1.1
-1.5

2016M02
:
:
:
:

Unemployment rate -  total (2)
Unemployment rate -  
age <25 year (2)
Unemployment rate -  
age >25 year (2)

%

%

%

Labour Cost Index

Employment

Industrial production

Production in construction

Retail trade deflated turnover

Q/Q-1 % (1)

Q/Q-1 % (1)

M/M-1 % (1)
M/M-12 % (3)
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %

2015M03
7.8

2015M04
7.6

2015M05
7.6

2015M06
7.5

2015M07
7.5

2015M08
7.5

2015M09
7.4

2015M10
7.4

2015M11
7.2

2015M12
7.1

2016M01
6.9

2016M02
:

21.4

6.6

2014Q4
1.2
2014Q4
-

2015M03
0.9
6.4
0.4
0.6
1.7
8.4

21.0

6.5

2015Q1
1.6
2015Q1
-

2015M04
-2.0
2.4
0.7
8.2
-1.2
6.5

20.7

6.4

2015Q2
-0.1
2015Q2
-

2015M05
0.9
5.0
-4.9
4.0
0.8
9.0

20.3

6.4

2015Q3
1.1
2015Q3
-

2015M06
0.4
5.0
-4.3
-4.8
0.4
8.6

20.4

6.4

2015Q4
:
2015Q4
-

2015M07
0.2
3.9
2.1
-0.6
-2.4
6.3

20.5

6.4

20.8

6.3

Q/Q-4 % (3)

Q/Q-4 %

2015M09
1.6
4.1
-1.3
-1.9
-0.4
5.5

2015M08
-1.3
3.0
0.5
2.1
0.2
1.6

20.7

6.2

2014Q4
2.8
2014Q4
1.6

2015M10
0.8
4.8
-1.6
-3.4
2.6
5.1

20.5

6.1

2015Q1
4.6
2015Q1
1.4

2015M11
0.7
5.5
2.8
-1.9
1.3
7.9

20.5

5.9

2015Q2
2.4
2015Q2
1.4

2015M12
0.7
4.4
-0.7
-2.4
0.9
7.3

20.4

5.8

2015Q3
3.8
2015Q3
1.1

2016M01
-0.2
3.6
-3.0
-6.2
3.4
7.5

:

:

2015Q4
:
2015Q4
1.8

2016M02
:
:
:
:
:
:

General government deficit (-)/ 
surplus (+)

%

General government gross debt %

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

-6.5

50.4

0.3

51.1

-2.4

51.3

-2.4

51.9

:

:

Economic sentiment indicator (2)  

index

98.6

99.9

98.4

98.2

97.5

98.3

97.6

98.7

99.6

98.6

99.4

99.6

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

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

%

%

Average

2015M03
1.67

2015M04
1.65

2015M05
1.67

2015M06
1.70

2015M07
1.72

2015M08
1.72

2015M09
1.72

2015M10
1.73

2015M11
1.73

2015M12
1.72

2016M01
1.71

2016M02
:

2.33

4.13

2.37

4.02

2.82

4.08

3.19

4.16

3.16

4.15

2.88

4.20

2.91

4.22

2.66

4.25

2.73

4.25

2.96

4.29

3.00

4.41

:

4.40

(1)  sca: Seasonally and calendar adjusted data
(2)  sa: Seasonally adjusted data
(3)  ca: Calendar adjusted data, not seasonally adjusted data 
« : » 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)

62

Eurostatistics — 03/2016 edition 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
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

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

Graph 2: Demand

Growth Rate (PFC, 
I)

5.0

4.0

3.0

2.0

1.0
1 0

0.0

-1.0

Growth Rate (RT)

4.0

2.0

0.0

-2.0

-4.0

-6.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

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

%

9.0

8.5

8.0

7.5
7.5

7.0

6.5

Growth Rate 

Growth Rate

3.0

2.0

1.0

0.0
0.0

-1.0

-2.0

0.6

0.4

0.2

0.0

-0.2

-0.4

-0.6

-0.8

-1.0

-1.2

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

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

1500

1000

500

0

-500

-1000

-1500

-2000

-2500

-3000

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

%

4.5

4.0

3.5

3.0

2.5

2.0

1.5

Polish Zloty/€

4.70

4.45

4.20

3.95

3.70

3.45

3.20

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

External trade balance  

BOP current account 

3-month interest rates

Long-term government bond yields - rates

Polish Zloty exchange rates against the euro 

  Eurostatistics — 03/2016 edition

63

2

Principal European Economic Indicators (PEEIs)

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)

2014Q4
0.4

2015Q1
0.5

2015Q2
0.4

2015Q3
0.1

2015Q4
0.2

0.1

1.2

0.7

2.1

1.0

1.4

0.4

-2.7

0.2

-1.6

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2014Q4
0.3

2015Q1
1.6

2015Q2
1.5

2015Q3
1.5

2015Q4
1.4

1.9

2.2

2.7

8.3

3.2

5.9

2.4

2.3

2.3

-1.5

External trade balance 
(extra euro area) (2)
External trade balance  
(extra EU28) (2)

BOP Current account 
(All countries of the world)

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

mn euro

mn euro

62.2

-0.7

-44.2

-143.1

-63.1

-232.6

85.0

33.1

62.6

116.3

-15.0

108.8

18.2

-51.0

-4.7

-139.3

-6.8

-101.6

29.0

-81.7

:

:

:

:

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

mn euro

192.0

-181.0

-669.0

2083.0

:

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

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

2015M03
1.9
0.4
0.9
-2.4

2015M04
0.4
0.5
0.1
-2.4

2015M05
0.5
1.0
0.7
-1.7

2015M06
-0.1
0.8
-0.1
-1.8

2015M07
-0.7
0.7
-0.4
-2.5

2015M08
-0.1
0.7
-0.8
-3.2

2015M09
0.7
0.9
-1.0
-4.1

2015M10
-0.1
0.7
-0.7
-4.0

2015M11
-0.4
0.6
-0.1
-3.4

2015M12
-0.3
0.3
-1.2
-2.6

2016M01
-1.1
0.7
-0.6
-2.4

2016M02
:
:
:
:

Unemployment rate -  total (2)
Unemployment rate -  
age <25 year (2)
Unemployment rate -  
age >25 year (2)

%

%

%

Labour Cost Index

Employment

Industrial production

Production in construction

Retail trade deflated turnover

Q/Q-1 % (1)

Q/Q-1 % (2)

M/M-1 % (1)
M/M-12 % (3)
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %

2015M03
13.2

2015M04
12.8

2015M05
12.4

2015M06
12.3

2015M07
12.2

2015M08
12.3

2015M09
12.4

2015M10
12.4

2015M11
12.2

2015M12
12.2

2016M01
12.2

2016M02
:

32.4

11.7

2014Q4
-4.7
2014Q4
-0.8

2015M03
0.5
3.6
2.5
2.3
-3.3
2.0

31.6

11.3

2015Q1
5.0
2015Q1
0.7

2015M04
2.4
-0.7
-2.5
-4.2
0.9
3.7

30.9

11.0

2015Q2
0.6
2015Q2
0.9

2015M05
1.5
3.6
0.2
-1.4
0.0
1.7

31.6

10.8

2015Q3
-3.1
2015Q3
-0.5

2015M06
-1.6
2.7
-0.9
-1.9
0.2
2.9

31.0

10.8

2015Q4
:
2015Q4
0.7

2015M07
2.1
3.2
0.0
-2.5
1.0
1.7

31.5

10.8

31.8

10.9

Q/Q-4 % (3)

Q/Q-4 %

2015M09
-1.0
3.7
-2.2
-3.4
-2.1
1.2

2015M08
-2.0
0.1
1.1
-1.4
1.6
0.7

32.0

10.8

2014Q4
-9.4
2014Q4
0.7

2015M10
4.0
4.7
-0.9
-3.8
0.7
3.4

31.8

10.7

2015Q1
4.5
2015Q1
1.4

2015M11
-3.7
0.9
-0.2
-4.3
-1.7
0.8

30.1

10.8

2015Q2
2.6
2015Q2
1.9

2015M12
-1.2
1.0
-0.6
-4.7
-1.5
-0.7

29.9

10.8

2015Q3
-2.8
2015Q3
0.4

2016M01
0.6
0.4
:
:
5.9
1.2

:

:

2015Q4
:
2015Q4
1.8

2016M02
:
:
:
:
:
:

General government deficit (-)/ 
surplus (+)

%

-2.0

-5.7

-3.7

-1.5

General government gross debt %

130.2

130.3

128.6

130.5

:

:

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

Economic sentiment indicator (2)  

index

103.9

107.1

104.3

105.6

105.4

104.2

103.8

105.1

103.5

104.3

105.2

103.6

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

3-month interest rate
Long term government  
bond yields 

%

%

2015M03
-

2015M04
-

2015M05
-

2015M06
-

2015M07
-

2015M08
-

2015M09
-

2015M10
-

2015M11
-

2015M12
-

2016M01
-

2016M02
-

1.74

1.87

2.41

2.93

2.74

2.52

2.59

2.41

2.57

2.49

2.71

:

(1)  sca: Seasonally and calendar adjusted data
(2)  sa: Seasonally adjusted data
(3)  ca: Calendar adjusted data, not seasonally adjusted data 
« : » 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)

64

Eurostatistics — 03/2016 edition 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2

Portugal

Graph 1: Output

Growth rate

Index

9.0

6.0

3.0

0.0

-3.0

-6.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

Graph 2: Demand

Growth Rate (PFC, 
I)

6.0

4.0

2.0

0.0

-2.0

-4.0

Growth Rate (RT)

9.0

6.0

3.0

0.0

-3.0

-6.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

110

100

90

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

Graph  4: Prices

%

15.0

14.5

14.0

13.5

13.0

12.5

12.0

Growth Rate 

Growth Rate

9.0

6.0

3.0

0.0

-3.0

-6.0

-9.0

2.5

2.0

1.5

1.0

0.5

0.0
0 0

-0.5

-1.0

-1.5

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

HICP (m/m-1)

Industrial producer prices (m/m-1)

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

Employment (q/q-1)

Labour cost index  (q/q-1)

Unemployment rate Total (%)

Graph 5: External Transactions

Graph 6: Financial

millions  euro

4000

3000

2000

1000

0

-1000

-2000

%

10.0

8.0

6.0

4.0
4 0

2.0

0.0

€/$

1.500

1.400

1.300

1.200
1 200

1.100

1.000

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

External trade balance  

BOP current account 

Long-term government bond yields - rates

Euro-dollar exchange rate

  Eurostatistics — 03/2016 edition

65

2

Principal European Economic Indicators (PEEIs)

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)

2014Q4
0.9

2015Q1
1.3

2015Q2
-0.2

2015Q3
1.5

2015Q4
1.1

1.2

0.3

2.9

2.6

0.1

2.2

2.0

-0.4

:

:

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2014Q4
2.8

2015Q1
4.3

2015Q2
3.4

2015Q3
3.6

2015Q4
:

4.2

1.4

4.8

8.3

5.4

9.7

6.4

4.6

:

:

External trade balance 
(extra EU28) (2)

BOP Current account 
(All countries of the world)

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

mn euro

-172.9

40.5

38.5

-28.3

23.2

-107.4

-7.0

-66.6

37.4

8.9

:

:

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

mn euro

290.7

503.2

-808.7

-474.6

:

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

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

2015M03
0.5
0.8
0.3
0.0

2015M04
0.2
0.6
-0.7
-2.4

2015M05
0.7
1.3
0.1
-2.2

2015M06
-2.5
-0.9
0.1
-1.8

2015M07
-0.5
-1.4
-0.5
-1.9

2015M08
-0.6
-1.7
-0.6
-2.4

2015M09
0.3
-1.5
-0.2
-2.5

2015M10
0.3
-1.4
-0.1
-2.5

2015M11
0.3
-0.9
0.0
-2.3

2015M12
0.2
-0.7
-0.3
-1.7

2016M01
-0.6
-1.5
-0.6
-2.3

2016M02
:
:
:
:

Unemployment rate -  total (2)
Unemployment rate -  
age <25 year (2)
Unemployment rate -  
age >25 year (2)

%

%

%

Labour Cost Index

Employment

Industrial production

Production in construction

Retail trade deflated turnover

Q/Q-1 % (1)

Q/Q-1 % (1)

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

2015M03
6.7

2015M04
6.8

2015M05
6.8

2015M06
6.7

2015M07
6.8

2015M08
6.8

2015M09
6.9

2015M10
6.6

2015M11
6.6

2015M12
6.7

2016M01
6.5

2016M02
:

22.4

5.4

2014Q4
2.8
2014Q4
-

2015M03
0.2
2.0
3.6
12.5
-0.9
-0.6

21.8

5.6

2015Q1
1.3
2015Q1
-

2015M04
-0.2
4.4
-3.8
11.0
3.2
7.0

21.8

5.6

2015Q2
2.0
2015Q2
-

2015M05
-0.1
1.9
-4.2
3.2
-0.1
4.3

21.8

5.5

2015Q3
1.0
2015Q3
-

2015M06
0.8
3.2
4.2
13.4
2.0
7.3

21.2

5.6

2015Q4
:
2015Q4
-

2015M07
0.2
3.7
0.8
14.3
1.8
9.8

21.2

5.7

21.2

5.7

Q/Q-4 % (3)

Q/Q-4 %

2015M09
1.1
3.9
0.0
3.0
1.9
12.0

2015M08
-0.5
3.1
-0.5
10.2
0.4
9.0

:

5.5

2014Q4
6.5
2014Q4
0.8

2015M10
-0.3
2.5
2.2
12.0
1.5
13.2

:

5.5

2015Q1
7.0
2015Q1
-1.8

2015M11
-0.1
2.5
3.3
9.8
2.4
14.6

:

5.6

2015Q2
7.6
2015Q2
-0.1

2015M12
-0.3
1.6
5.8
13.9
0.7
14.5

:

5.5

2015Q3
7.3
2015Q3
0.0

2016M01
:
:
:
:
1.9
15.6

:

:

2015Q4
:
2015Q4
:

2016M02
:
:
:
:
:
:

General government deficit (-)/ 
surplus (+)

%

General government gross debt %

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

-5.1

39.9

2.1

38.4

0.1

38.0

0.4

37.2

:

:

Economic sentiment indicator (1)  

index

101.9

102.8

103.0

103.6

104.5

104.3

104.3

105.4

104.6

103.3

104.5

102.4

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

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

%

%

Average

2015M03
1.12

2015M04
1.19

2015M05
1.12

2015M06
1.03

2015M07
1.06

2015M08
1.12

2015M09
1.23

2015M10
1.12

2015M11
0.88

2015M12
0.82

2016M01
0.72

2016M02
:

3.01

4.43

3.25

4.42

3.45

4.45

3.84

4.47

3.99

4.44

3.86

4.42

3.73

4.42

3.47

4.42

3.49

4.45

3.62

4.50

3.60

4.53

:

4.48

(1)  sca: Seasonally and calendar adjusted data
(2)  sa: Seasonally adjusted data
(3)  ca: Calendar adjusted data, not seasonally adjusted data 
« : » not available data; « - » not existing dat
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)

66

Eurostatistics — 03/2016 edition 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2

Romania

Graph 1: Output

Growth rate

Index

6.0

4.0

2.0

0.0

-2.0

-4.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

GDP (q/q-1)

Industrial Production (m/m-1)

Economic Sentiment Indicator

Graph 3: Labour

Growth Rate

%

7.6

7.3

7.0

6.7
6.7

6.4

6.1

110

105

100

95

90

85

6.0

4.0

2.0

0.0
0.0

-2.0

-4.0

Graph 2: Demand

Growth Rate (PFC, 
I)

4.0

2.0

0.0

-2.0

-4.0

-6.0

Growth Rate (RT)

9.0

6.0

3.0

0.0

-3.0

-6.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

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

Investment (I) (q/q-1)

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

Graph  4: Prices

Growth Rate
1.0

0.5

0.0

-0.5

-1.0

-1.5
1 5

-2.0

-2.5

-3.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

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

500

0

-500

-1000

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

External trade balance  

BOP current account 

%

5.0

4.0

3.0

2.0
2.0

1.0

0.0

Romenian leu/€

4.60

4.50

4.40

4.30
4.30

4.20

4.10

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

3-month interest rates

Long-term government bond yields - rates

Romanian leu exchange rates against the euro 

  Eurostatistics — 03/2016 edition

67

2

Principal European Economic Indicators (PEEIs)

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)

2014Q4
0.3

2015Q1
0.7

2015Q2
0.8

2015Q3
0.4

2015Q4
0.6

0.2

-4.5

0.9

4.0

0.6

-0.9

0.7

-0.3

0.4

0.9

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2014Q4
2.8

2015Q1
2.8

2015Q2
2.7

2015Q3
2.6

2015Q4
3.3

-0.1

-4.1

0.7

1.5

1.2

-0.6

2.5

-2.0

2.6

3.4

External trade balance 
(extra euro area) (2)
External trade balance  
(extra EU28) (2)

BOP Current account 
(All countries of the world)

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

mn euro

mn euro

105.0

58.2

113.0

67.0

108.0

19.7

63.1

85.7

126.2

154.9

-84.5

-113.0

-66.0

-105.4

-77.0

-127.8

-102.4

-101.7

-90.7

-79.8

:

:

:

:

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

mn euro

733.0

442.9

822.0

962.3

:

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

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

2015M03
0.9
-0.4
0.3
0.0

2015M04
0.1
-0.7
0.0
0.0

2015M05
0.7
-0.8
0.1
0.1

2015M06
-0.1
-0.9
0.0
-0.2

2015M07
-0.7
-0.7
0.0
-0.2

2015M08
0.0
-0.6
-0.2
-0.4

2015M09
-0.1
-1.0
-0.4
-0.9

2015M10
0.0
-1.2
0.0
-0.9

2015M11
0.1
-0.9
-0.4
-1.3

2015M12
-0.4
-0.6
-0.1
-1.4

2016M01
-1.3
-0.8
-0.1
-1.5

2016M02
:
:
:
:

Unemployment rate -  total (2)
Unemployment rate -  
age <25 year (2)
Unemployment rate -  
age >25 year (2)

%

%

%

Labour Cost Index

Employment

Industrial production

Production in construction

Retail trade deflated turnover

Q/Q-1 % (1)

Q/Q-1 % (1)

M/M-1 % (1)
M/M-12 % (3)
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %

2015M03
9.3

2015M04
9.4

2015M05
9.5

2015M06
9.4

2015M07
9.2

2015M08
9.0

2015M09
8.9

2015M10
8.8

2015M11
8.8

2015M12
8.9

2016M01
8.9

2016M02
:

17.0

8.7

2014Q4
0.0
2014Q4
0.4

2015M03
0.2
4.8
0.7
-1.5
-1.3
0.1

16.4

8.8

2015Q1
0.8
2015Q1
0.4

2015M04
-0.1
4.8
-0.1
-6.9
0.4
-0.8

16.4

8.9

2015Q2
-0.3
2015Q2
0.4

2015M05
1.0
6.1
-5.0
-8.9
0.9
2.8

16.4

8.9

2015Q3
-1.2
2015Q3
0.2

2015M06
-0.8
3.6
-1.0
-10.5
-0.5
1.8

14.5

8.7

2015Q4
:
2015Q4
0.3

2015M07
0.9
3.1
-3.0
-12.8
0.0
0.3

14.5

8.6

14.5

8.4

Q/Q-4 % (3)

Q/Q-4 %

2015M09
0.4
6.0
-4.2
-10.7
0.6
0.1

2015M08
-0.4
5.1
-3.3
-13.8
0.0
0.1

15.0

8.3

2014Q4
1.2
2014Q4
1.0

2015M10
-0.3
3.3
-1.1
-11.6
-0.7
0.6

15.0

8.3

2015Q1
2.6
2015Q1
1.5

2015M11
0.3
4.1
14.3
5.7
0.6
1.4

15.0

8.3

2015Q2
2.0
2015Q2
1.6

2015M12
-1.3
1.8
-12.5
-9.3
-0.2
1.2

:

8.3

2015Q3
-1.5
2015Q3
1.3

2016M01
:
:
:
:
3.0
5.3

:

:

2015Q4
:
2015Q4
1.3

2016M02
:
:
:
:
:
:

General government deficit (-)/ 
surplus (+)

%

General government gross debt %

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

-8.7

80.8

-4.3

81.8

-2.9

80.8

-0.7

84.1

:

:

Economic sentiment indicator (2)  

index

109.2

108.2

108.7

108.6

106.6

111.9

109.7

110.4

109.1

109.4

105.3

105.0

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

3-month interest rate
Long term government  
bond yields 

%

%

2015M03
-

2015M04
-

2015M05
-

2015M06
-

2015M07
-

2015M08
-

2015M09
-

2015M10
-

2015M11
-

2015M12
-

2016M01
-

2016M02
-

0.99

1.06

1.59

2.13

2.43

2.07

2.05

1.80

1.66

1.61

1.61

:

(1)  sca: Seasonally and calendar adjusted data
(2)  sa: Seasonally adjusted data
(3)  ca: Calendar adjusted data, not seasonally adjusted data 
« : » 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)

68

Eurostatistics — 03/2016 edition 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2

Slovenia

Graph 1: Output

Growth rate

Index

6.0

4.0

2.0

0.0

-2.0

-4.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

Graph 2: Demand

Growth Rate (PFC, 
I)

6.0

4.0

2.0

0.0

-2.0
2 0

-4.0

-6.0

Growth Rate (RT)

6.0

4.0

2.0

0.0

-2.0
2 0

-4.0

-6.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

115

110

105

100

95

90

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

%

11.0

10.5

10.0

9.5

9.0

8.5

Growth Rate 

Growth Rate

3.0

2.0

1.0

0.0

-1.0

-2.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

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

-1.5

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

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

-200

%

4.0

3.0

2.0

1.0

0.0

€/$

1.400

1.300

1.200

1.100

1.000

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

External trade balance  

BOP current account 

Long-term government bond yields - rates

Euro-dollar exchange rate

  Eurostatistics — 03/2016 edition

69

2

Principal European Economic Indicators (PEEIs)

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)

2014Q4
0.8

2015Q1
0.9

2015Q2
1.0

2015Q3
1.0

2015Q4
1.0

0.7

4.2

0.4

1.3

0.7

4.1

0.7

5.7

:

:

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2014Q4
2.8

2015Q1
2.9

2015Q2
3.4

2015Q3
3.7

2015Q4
4.2

2.3

4.0

1.5

6.7

2.3

9.5

2.8

17.3

:

:

External trade balance 
(extra euro area) (1)
External trade balance 
(extra EU28) (1)

BOP Current account 
(All countries of the world)

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

mn euro

-65.4

-150.7

-78.6

-87.0

-123.6

-284.2

-210.6

-119.2

-64.8

-838.2

mn euro

-323.1

-356.1

-341.1

-315.9

-320.7

-422.2

-413.0

-383.6

-294.9

-346.0

:

:

:

:

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

mn euro

-311.7

329.1

-332.8

-785.5

:

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

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

2015M03
0.2
-0.4
0.7
-3.3

2015M04
0.3
-0.1
-0.5
-3.5

2015M05
0.3
-0.1
0.4
-3.5

2015M06
0.1
-0.1
-0.9
-4.5

2015M07
-0.3
-0.2
0.2
-4.3

2015M08
-0.2
-0.2
-0.3
-4.2

2015M09
-0.2
-0.5
-1.3
-5.4

2015M10
0.1
-0.5
0.0
-5.1

2015M11
0.0
-0.4
0.2
-5.2

2015M12
-0.4
-0.5
-0.3
-4.6

2016M01
-0.3
-0.6
-1.3
-5.3

2016M02
:
:
:
:

Unemployment rate -  total (2)
Unemployment rate -  
age <25 year (2)
Unemployment rate -  
age >25 year (2)

%

%

%

Labour Cost Index

Employment

Industrial production

Production in construction

Retail trade deflated turnover

Q/Q-1 % (2)

Q/Q-1 % (1)

M/M-1 % (2)
M/M-12 % (3)
M/M-1 % (2)
M/M-12 %
M/M-1 % (2)
M/M-12 %

2015M03
11.9

2015M04
11.7

2015M05
11.5

2015M06
11.4

2015M07
11.4

2015M08
11.4

2015M09
11.3

2015M10
11.1

2015M11
10.8

2015M12
10.6

2016M01
10.3

2016M02
:

26.7

10.7

2014Q4
0.5
2014Q4
0.7

2015M03
2.0
11.1
2.5
9.2
1.1
1.9

26.9

10.4

2015Q1
1.1
2015Q1
0.3

2015M04
-1.0
2.8
2.2
12.9
-0.7
-0.4

27.0

10.2

2015Q2
1.2
2015Q2
0.7

2015M05
0.3
1.0
3.5
17.5
0.5
1.4

27.1

10.1

2015Q3
0.2
2015Q3
0.5

2015M06
1.3
6.9
3.2
24.6
0.8
3.0

26.7

10.1

2015Q4
:
2015Q4
0.4

2015M07
1.2
11.9
0.6
24.4
-0.1
2.2

26.5

10.1

26.3

10.0

Q/Q-4 % (3)

Q/Q-4 %

2015M09
2.1
7.1
8.1
27.2
0.7
3.0

2015M08
-1.5
0.5
-4.8
10.7
-0.3
1.6

25.7

9.8

2014Q4
5.1
2014Q4
2.1

2015M10
-0.6
4.2
2.2
29.6
0.1
1.9

25.1

9.6

2015Q1
3.7
2015Q1
1.8

2015M11
1.9
11.8
-4.7
17.2
0.3
3.2

24.4

9.4

2015Q2
2.9
2015Q2
2.0

2015M12
-0.5
8.3
4.3
24.9
0.3
2.7

23.5

9.2

2015Q3
2.9
2015Q3
2.2

2016M01
:
:
:
:
-1.1
0.5

:

:

2015Q4
:
2015Q4
2.0

2016M02
:
:
:
:
:
:

General government deficit (-)/ 
surplus (+)

%

General government gross debt %

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

-4.0

53.5

-2.3

53.9

-2.2

54.3

-1.9

53.5

:

:

Economic sentiment indicator (1)  

index

100.3

102.5

99.1

99.6

95.9

99.9

98.3

104.0

96.8

96.3

102.5

102.6

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

3-month interest rate
Long term government  
bond yields 

%

%

2015M03
-

2015M04
-

2015M05
-

2015M06
-

2015M07
-

2015M08
-

2015M09
-

2015M10
-

2015M11
-

2015M12
-

2016M01
-

2016M02
-

0.52

0.96

0.74

1.15

1.25

0.99

0.89

0.75

0.71

0.72

0.71

:

(1)  sa: Seasonally adjusted data 
(2)  sca: Seasonally and calendar adjusted data
(3)  ca: Calendar adjusted data, not seasonally adjusted data  
« : » 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)

70

Eurostatistics — 03/2016 edition 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2

Slovakia

Graph 1: Output

Growth rate

Index

6.0

4.0

2.0

0.0

-2.0

-4.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

GDP (q/q-1)

Industrial Production (m/m-1)

Economic Sentiment Indicator

Graph 2: Demand

Growth Rate (PFC, 
I)

9.0

6.0

3.0

0.0

-3.0

-6.0

Growth Rate (RT)

6.0

4.0

2.0

0.0

-2.0

-4.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

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

Investment (I) (q/q-1)

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

120

110

100

90

80

70

Graph 3: Labour

Graph  4: Prices

%

14.0

13.0

12.0

11.0

10.0

Growth Rate 

Growth Rate

6.0

4.0

2.0

0.0

-2.0

1.0

0.5

0.0

0.5
-0.5

-1.0

-1.5

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

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

400

200

0

-200

-400

-600

-800

-1000

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

External trade balance  

BOP current account 

%

2.0

1.5

1.0

0.5

0.0

€/$

1.400

1.300

1.200

1.100

1.000

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

Long-term government bond yields - rates

Euro-dollar exchange rate

  Eurostatistics — 03/2016 edition

71

2

Principal European Economic Indicators (PEEIs)

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)

2014Q4
-0.2

2015Q1
0.3

2015Q2
0.5

2015Q3
-0.2

2015Q4
0.1

-0.4

-2.7

0.8

0.5

0.1

0.0

0.8

-0.8

0.2

1.7

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2014Q4
-0.8

2015Q1
0.0

2015Q2
0.7

2015Q3
0.2

2015Q4
0.8

0.2

-3.1

1.1

-1.4

1.1

-1.3

1.3

-3.3

1.9

1.7

External trade balance 
(extra euro area) (2)
External trade balance  
(extra EU28) (2)

BOP Current account 
(All countries of the world)

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

mn euro

mn euro

232.3

697.6

355.0

427.8

412.5

300.9

270.6

229.9

227.6

362.5

597.7

1024.7

688.1

809.2

724.2

617.9

529.1

462.2

574.8

667.7

:

:

:

:

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

mn euro

298.7

-233.9

-353.2

1022.6

:

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

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

2015M03
0.4
0.0
0.4
-1.2

2015M04
0.0
-0.1
0.3
-1.0

2015M05
-0.1
0.1
-0.3
-1.3

2015M06
0.0
0.1
-0.2
-1.8

2015M07
-0.3
-0.1
0.2
-1.7

2015M08
0.1
-0.2
-0.8
-2.5

2015M09
0.2
-0.7
-0.8
-3.3

2015M10
0.2
-0.3
-0.1
-3.0

2015M11
0.0
-0.2
-0.1
-2.7

2015M12
-0.2
-0.2
-1.0
-2.4

2016M01
-0.5
0.0
-0.3
-1.5

2016M02
:
:
:
:

Unemployment rate -  total (2)
Unemployment rate -  
age <25 year (2)
Unemployment rate -  
age >25 year (2)

%

%

%

Labour Cost Index

Employment

Industrial production

Production in construction

Retail trade deflated turnover

Q/Q-1 % (1)

Q/Q-1 % (1)

M/M-1 % (1)
M/M-12 % (3)
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %

2015M03
9.2

2015M04
9.2

2015M05
9.3

2015M06
9.4

2015M07
9.5

2015M08
9.5

2015M09
9.4

2015M10
9.4

2015M11
9.4

2015M12
9.4

2016M01
9.4

2016M02
:

22.0

7.4

2014Q4
0.1
2014Q4
-0.1

2015M03
0.3
-2.4
3.4
8.4
0.5
0.8

22.2

7.4

2015Q1
0.8
2015Q1
0.0

2015M04
0.1
-1.9
-1.2
4.0
-1.0
-1.8

22.4

7.5

2015Q2
0.4
2015Q2
-0.2

2015M05
-0.6
-3.5
1.8
9.5
0.3
0.5

22.6

7.6

2015Q3
-0.4
2015Q3
0.2

2015M06
1.3
0.2
-0.8
7.5
-0.1
0.8

22.5

7.7

2015Q4
:
2015Q4
0.0

2015M07
-0.5
-1.4
-1.1
5.9
0.2
0.4

22.2

7.7

22.0

7.7

Q/Q-4 % (3)

Q/Q-4 %

2015M09
1.3
1.4
-1.3
5.5
-0.5
0.2

2015M08
-0.1
-1.4
1.2
7.2
-0.4
0.2

21.9

7.7

2014Q4
0.5
2014Q4
-0.8

2015M10
-1.1
-1.5
0.8
6.4
0.6
-0.1

22.1

7.7

2015Q1
2.0
2015Q1
-0.2

2015M11
0.3
-0.2
1.4
7.6
1.5
3.5

22.2

7.7

2015Q2
1.1
2015Q2
-1.1

2015M12
0.2
0.5
:
:
-1.2
1.5

22.2

7.7

2015Q3
0.6
2015Q3
-0.1

2016M01
:
:
:
:
1.5
3.1

:

:

2015Q4
:
2015Q4
0.0

2016M02
:
:
:
:
:
:

General government deficit (-)/ 
surplus (+)

%

General government gross debt %

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

-9.3

59.3

-2.2

60.6

3.0

62.4

-3.0

61.2

:

:

Economic sentiment indicator (2)  

index

94.3

94.1

93.8

94.3

94.6

94.7

95.5

97.7

97.7

96.7

99.1

95.3

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

3-month interest rate
Long term government  
bond yields 

%

%

2015M03
-

2015M04
-

2015M05
-

2015M06
-

2015M07
-

2015M08
-

2015M09
-

2015M10
-

2015M11
-

2015M12
-

2016M01
-

2016M02
-

0.39

0.27

0.72

1.01

0.95

0.82

0.90

0.81

0.81

0.86

0.78

:

(1)  sca: Seasonally and calendar adjusted data
(2)  sa: Seasonally adjusted data
(3)  ca: Calendar adjusted data, not seasonally adjusted data 
« : » 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)

72

Eurostatistics — 03/2016 edition 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
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

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

Graph 2: Demand

Growth Rate (PFC, 
I)

3.0

2.0

1.0

0.0

-1.0

-2.0

-3.0

-4.0

Growth Rate (RT)

4.0

2.0

0.0

-2.0

-4.0

-6.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

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

%

10.0

9.5

9.0

8.5

8.0

Growth Rate 

Growth Rate

2.0

1.0

0.0

-1.0

-2.0

0.6

0.4

0.2

0.0

-0.2

-0.4

-0.6

-0.8

-1.0

-1.2

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

HICP (m/m-1)

Industrial producer prices (m/m-1)

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

Employment (q/q-1)

Labour cost index  (q/q-1)

Unemployment rate Total (%)

Graph 5: External Transactions

Graph 6: Financial

millions  euro

2500

2000

1500

1000

500

0

-500

-1000

%

2.5

2.0

1.5

.0
1.0

0.5

0.0

€/$

1.500

1.400

1.300

. 00
1.200

1.100

1.000

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

External trade balance  

BOP current account 

Long-term government bond yields - rates

Euro-dollar exchange rate

  Eurostatistics — 03/2016 edition

73

2

Principal European Economic Indicators (PEEIs)

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)

2014Q4
1.0

2015Q1
0.9

2015Q2
1.2

2015Q3
1.0

2015Q4
1.3

1.1

3.0

0.5

1.3

0.6

1.3

0.6

1.6

0.9

2.0

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2014Q4
2.6

2015Q1
3.0

2015Q2
4.1

2015Q3
4.1

2015Q4
5.0

2.2

9.0

2.5

6.9

2.1

7.6

2.8

7.3

3.0

7.1

External trade balance 
(extra EU28) (2)

BOP Current account 
(All countries of the world)

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

mn euro

1213.5

1343.0

1154.8

1298.9

1175.6

1219.7

1514.3

1128.3

1075.3

1485.4

:

:

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

mn euro

6805.8

7680.7

5153.6

8107.4

:

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

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

2015M03
0.1
0.7
0.0
0.0

2015M04
0.2
0.5
-0.4
0.2

2015M05
0.4
0.9
-0.3
-0.1

2015M06
-0.3
0.4
-0.9
-0.9

2015M07
0.1
0.8
-0.6
-1.4

2015M08
-0.2
0.6
-0.2
-1.9

2015M09
0.5
0.9
-0.1
-2.0

2015M10
0.1
0.9
0.7
-1.6

2015M11
-0.2
0.8
-0.2
-1.7

2015M12
0.2
0.7
0.1
-1.9

2016M01
-0.6
1.3
-0.2
-1.6

2016M02
:
:
:
:

Unemployment rate -  total (2)
Unemployment rate -  
age <25 year (2)
Unemployment rate -  
age >25 year (2)

%

%

%

Labour Cost Index

Employment

Industrial production

Production in construction

Retail trade deflated turnover

Q/Q-1 % (1)

Q/Q-1 % (1)

M/M-1 % (1)
M/M-12 % (3)
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %

2015M03
7.5

2015M04
7.7

2015M05
7.7

2015M06
7.3

2015M07
7.3

2015M08
7.0

2015M09
7.3

2015M10
7.2

2015M11
6.8

2015M12
7.2

2016M01
7.0

2016M02
:

20.6

5.6

2014Q4
0.6
2014Q4
0.1

2015M03
0.6
-0.7
2.5
15.1
1.1
4.3

20.5

5.9

2015Q1
0.8
2015Q1
0.4

2015M04
3.0
2.5
1.2
14.9
0.0
3.3

20.9

5.8

2015Q2
0.6
2015Q2
0.1

2015M05
-0.1
5.3
1.5
19.0
-0.1
4.1

20.5

5.5

2015Q3
0.5
2015Q3
0.5

2015M06
-0.1
3.3
-1.8
13.6
0.4
4.3

21.0

5.4

2015Q4
:
2015Q4
0.7

2015M07
-2.8
0.4
6.6
17.2
0.6
6.4

19.4

5.3

19.9

5.5

Q/Q-4 % (3)

Q/Q-4 %

2015M09
0.6
7.0
0.2
13.0
1.0
5.3

2015M08
3.7
5.5
-3.6
13.2
-0.4
2.8

19.8

5.4

2014Q4
2.9
2014Q4
1.5

2015M10
0.1
6.1
1.5
13.1
0.8
5.2

17.4

5.4

2015Q1
3.1
2015Q1
1.8

2015M11
0.3
7.0
0.2
11.1
0.7
5.6

19.4

5.5

2015Q2
2.9
2015Q2
1.3

2015M12
-2.7
1.1
2.6
15.2
-1.4
3.8

19.6

5.2

2015Q3
2.6
2015Q3
1.1

2016M01
1.3
5.1
:
:
1.1
4.0

:

:

2015Q4
:
2015Q4
1.8

2016M02
:
:
:
:
:
:

General government deficit (-)/ 
surplus (+)

%

General government gross debt %

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

-4.8

44.9

-1.2

44.5

1.9

44.2

-0.4

43.2

:

:

Economic sentiment indicator (2)  

index

104.2

102.1

104.3

103.9

105.1

106.2

107.1

108.4

107.5

109.8

112.2

108.9

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

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

%

%

Average

2015M03
0.00

2015M04
-0.14

2015M05
-0.21

2015M06
-0.23

2015M07
-0.25

2015M08
-0.27

2015M09
-0.29

2015M10
-0.30

2015M11
-0.37

2015M12
-0.40

2016M01
-0.30

2016M02
-0.42

0.58

9.24

0.34

9.33

0.75

9.30

0.99

9.27

0.81

9.39

0.66

9.52

0.71

9.39

0.66

9.35

0.80

9.31

0.93

9.25

1.02

9.28

:

9.41

(1)  sca: Seasonally and calendar adjusted data
(2)  sa: Seasonally adjusted data
(3)  ca: Calendar adjusted data, not seasonally adjusted data 
« : » 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)

74

Eurostatistics — 03/2016 edition 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2

Sweden

Graph 1: Output

Growth rate

Index

9.0

6.0

3.0

0.0

-3.0

-6.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

Graph 2: Demand

Growth Rate (PFC, 
I)

4.0

3.0

2.0

1.0

0.0

-1.0

Growth Rate (RT)

4.0

2.0

0.0

-2.0

-4.0

-6.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

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

3.0

2.0

1.0

0.0

-1.0

0.8

0.6

0.4

0.2

0.0

-0.2

-0.4

-0.6

-0.8

-1.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

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

9000

8000

7000

6000

5000

4000

3000

2000

1000

0

%

2.5

2.0

1.5

1.0

0.5
0 5

0.0

-0.5

Swedish Krona/€

10.50

10.00

9.50

9.00

8.50
8 50

8.00

7.50

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

External trade balance  

BOP current account 

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

  Eurostatistics — 03/2016 edition

75

2

Principal European Economic Indicators (PEEIs)

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)

2014Q4
0.7

2015Q1
0.4

2015Q2
0.6

2015Q3
0.4

2015Q4
0.5

0.5

0.1

0.8

1.4

0.9

1.6

0.7

-0.1

0.7

-0.1

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2014Q4
1.5

2015Q1
2.3

2015Q2
2.0

2015Q3
2.9

2015Q4
1.8

2.1

4.2

2.8

5.9

2.8

5.3

2.8

2.9

3.1

2.6

External trade balance 
(extra EU28) (2)

BOP Current account 
(All countries of the world)

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

mn euro

-2264.9

-1544.7

-2473.0

-2656.3

-2522.2

-1042.7

-1747.5

-4025.5

-3087.0

1408.9

:

:

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

mn euro

-33982.6 -28181.5 -23966.4 -32376.1

:

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

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

2015M03
0.2
0.0
0.6
-7.7

2015M04
0.2
-0.1
0.1
-7.3

2015M05
0.2
0.1
0.6
-6.8

2015M06
0.0
0.0
-0.4
-7.0

2015M07
-0.2
0.1
-0.8
-7.2

2015M08
0.2
0.0
-2.1
-8.8

2015M09
-0.1
-0.1
0.1
-8.3

2015M10
0.1
-0.1
-0.3
-7.2

2015M11
0.0
0.1
-0.6
-7.1

2015M12
0.1
0.2
-1.2
-5.6

2016M01
-0.8
0.3
-0.9
-3.9

2016M02
:
:
:
:

Unemployment rate -  total (2)
Unemployment rate -  
age <25 year (2)
Unemployment rate -  
age >25 year (2)

%

%

%

Labour Cost Index

Employment

Industrial production

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 %

2015M03
5.5

2015M04
5.6

2015M05
5.6

2015M06
5.5

2015M07
5.4

2015M08
5.3

2015M09
5.2

2015M10
5.1

2015M11
5.1

2015M12
:

2016M01
:

2016M02
:

15.6

3.8

2014Q4
1.2
2014Q4
-

2015M03
0.6
1.4
4.5
8.4
-0.3
5.4

15.6

4.0

2015Q1
1.3
2015Q1
-

2015M04
0.1
1.4
-1.3
6.3
0.8
2.7

15.7

3.9

2015Q2
0.4
2015Q2
-

2015M05
0.2
1.8
-2.7
3.7
0.5
4.5

15.3

3.9

2015Q3
0.9
2015Q3
-

2015M06
-0.2
1.8
3.2
6.8
0.0
4.1

14.6

3.9

2015Q4
:
2015Q4
-

2015M07
-0.4
0.7
-0.5
3.4
0.4
4.5

14.0

3.9

13.6

3.8

Q/Q-4 % (3)

Q/Q-4 %

2015M09
0.0
1.1
1.7
0.0
1.8
6.2

2015M08
0.8
1.8
-3.7
0.0
-0.5
3.4

13.7

3.8

2014Q4
2.0
2014Q4
2.0

2015M10
0.1
2.3
-0.7
0.0
-0.3
4.4

13.6

3.8

2015Q1
3.3
2015Q1
1.9

2015M11
-0.8
0.6
-0.4
0.6
1.3
4.9

:

:

2015Q2
3.1
2015Q2
1.1

2015M12
-1.1
-0.4
0.8
0.4
-0.9
2.3

:

:

2015Q3
3.9
2015Q3
1.4

2016M01
:
:
:
:
1.9
5.1

:

:

2015Q4
:
2015Q4
0.0

2016M02
:
:
:
:
:
:

General government deficit (-)/ 
surplus (+)

%

General government gross debt %

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

-6.7

88.2

-1.2

87.5

-5.8

89.0

-4.6

88.6

:

:

Economic sentiment indicator (1)

index

110.7

112.4

113.0

109.2

112.5

113.0

110.2

108.2

107.1

110.1

106.6

105.0

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

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

%

%

Average

2015M03
0.56

2015M04
0.57

2015M05
0.57

2015M06
0.57

2015M07
0.58

2015M08
0.59

2015M09
0.59

2015M10
0.58

2015M11
0.57

2015M12
0.58

2016M01
0.59

2016M02
0.59

1.59

0.72

1.65

0.72

1.94

0.72

2.06

0.72

2.03

0.71

1.86

0.71

1.85

0.73

1.81

0.73

1.94

0.71

1.87

0.73

1.73

0.75

:

0.78

(1)  sca: Seasonally and calendar adjusted data 
(2)  sa: Seasonally adjusted data 
(3)  ca: Calendar adjusted data, not seasonally adjusted data 
« : » 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)

76

Eurostatistics — 03/2016 edition 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2

United Kingdom

Graph 1: Output

Growth rate

Index

1.0

0.5

0.0

-0.5

-1.0

-1.5

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

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

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

130

120

110

100

90
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

%

6.4

6.1

5.8

5.5
5.5

5.2

4.9

Growth Rate 

Growth Rate

3.0

2.0

1.0

0.0
0.0

-1.0

-2.0

3.0

2.0

1.0

0.0

-1.0

-2.0

-3.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

HICP (m/m-1)

Industrial producer prices (m/m-1)

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

Labour cost index  (q/q-1)

Unemployment rate Total (%)

Graph 5: External Transactions

Graph 6: Financial

millions  euro

10000

0

-10000

-20000

-30000

-40000

-50000

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

%

4.0

3.0

2.0

1.0

0.0

Pound Sterling/€

1.10

1.00

0.90

0.80

0.70

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

External trade balance  

BOP current account 

3-month interest rates

Long-term government bond yields - rates

Pound Sterling exchange rates against the euro 

  Eurostatistics — 03/2016 edition

77

2

Principal European Economic Indicators (PEEIs)

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)

2014Q4
1.2

2015Q1
-0.1

2015Q2
0.0

2015Q3
1.6

2015Q4
-1.2

0.6

-4.6

0.6

0.2

0.6

-0.6

0.2

-0.5

0.6

-0.9

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2014Q4
3.0

2015Q1
1.4

2015Q2
2.3

2015Q3
2.6

2015Q4
0.1

2.0

-4.8

2.8

-3.9

1.6

-5.1

2.0

-5.5

1.7

-1.7

External trade balance 
(rest of the world)

BOP Current account 
(All countries of the world) 

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

mn euro

-

-

-

-

-

-

-

-

-

-

-

-

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

mn euro

10430.4

8718.9

8295.1

4770.0

:

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices

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

2015M03
0.3
1.7
-0.3
-3.1

2015M04
0.4
1.7
0.7
-2.2

2015M05
0.2
1.9
-0.3
-2.2

2015M06
0.3
2.6
-1.2
-3.7

2015M07
-0.2
1.5
-1.5
-6.1

2015M08
-0.2
1.7
-1.6
-8.0

2015M09
0.8
1.9
0.3
-7.4

2015M10
0.6
2.4
1.5
-5.0

2015M11
0.4
2.7
1.1
-3.0

2015M12
-0.4
2.4
-2.7
-4.4

2016M01
0.5
3.1
0.8
-1.2

2016M02
:
:
:
:

Unemployment rate -  total (2)
Unemployment rate -  
age <25 year (2)
Unemployment rate -  
age >25 year (2)

%

%

%

Labour Cost Index 

Employment

Industrial production

Production in construction

Retail trade deflated turnover

Q/Q-1 % (1)

Q/Q-1 % (1)

M/M-1 % (1)
M/M-12 % (3)
M/M-1 % (1)
M/M-12 %
M/M-1 % (1)
M/M-12 %

2015M03
4.2

2015M04
4.2

2015M05
4.3

2015M06
4.4

2015M07
4.3

2015M08
4.6

2015M09
4.6

2015M10
4.6

2015M11
4.6

2015M12
4.5

2016M01
:

2016M02
:

9.6

3.3

2014Q4
-
2014Q4
0.2

2015M03
1.3
2.3
-
-
0.5
1.3

10.1

3.3

2015Q1
-
2015Q1
0.0

2015M04
-5.8
-3.5
-
-
2.0
3.1

10.5

3.3

2015Q2
-
2015Q2
0.2

2015M05
2.8
4.0
-
-
-3.5
-0.7

10.9

3.4

2015Q3
-
2015Q3
0.1

2015M06
3.3
2.7
-
-
0.7
-0.4

10.6

3.3

2015Q4
-
2015Q4
-0.1

2015M07
-0.5
2.8
-
-
0.5
1.6

10.3

3.6

10.0

3.8

Q/Q-4 %

Q/Q-4 %

2015M09
1.1
2.0
-
-
-0.9
-0.5

2015M08
0.8
3.1
-
-
0.1
1.1

9.3

3.9

2014Q4
-
2014Q4
1.0

2015M10
-3.4
-3.0
-
-
0.8
0.6

9.7

3.8

2015Q1
-
2015Q1
0.7

2015M11
-0.7
-1.7
-
-
0.5
0.9

9.8

3.7

2015Q2
-
2015Q2
0.8

2015M12
-0.9
-2.1
-
-
-1.4
-1.2

:

:

2015Q3
-
2015Q3
0.5

2016M01
0.0
-0.3
-
-
0.9
0.5

:

:

2015Q4
-
2015Q4
0.3

2016M02
:
:
-
-
:
:

General government deficit (-)/ 
surplus (+)

%

General government gross debt %

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

6.2

26.6

7.7

28.4

10.6

28.5

4.8

30.1

:

:

Economic sentiment indicator (2)

index

-

-

-

-

-

-

-

-

-

-

-

-

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

3-month interest rate (4)
Long term government 
bond yields (4)
Norwegian Krone exchange rates 
against the euro (5)

%

%

Average

2015M03
1.38

2015M04
1.47

2015M05
1.49

2015M06
1.35

2015M07
1.27

2015M08
1.20

2015M09
1.16

2015M10
1.11

2015M11
1.15

2015M12
1.14

2016M01
1.16

2016M02
:

1.54

8.64

1.44

8.51

1.65

8.41

1.77

8.76

1.70

8.94

1.49

9.18

1.60

9.31

1.57

9.29

1.63

9.26

1.55

9.46

1.45

9.59

1.39

9.56

(1)  sca: Seasonally and calendar adjusted data
(2)  sa: Seasonally adjusted data
(3)  Calculated by Eurostat from OECD Main Economic Indicators database. There may be rounding differences with data published nationally
(4)  Source: OECD Main Economic Indicators database
(5)  Source: ECB
« : » not available data; « - » not existing data 

78

Eurostatistics — 03/2016 edition 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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)

2

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

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

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

Investment (I) (q/q-1)

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

GDP (q/q-1)

Industrial Production (m/m-1)

Graph 3: Labour

Graph  4: Prices

%

5.0

4.5

4.0

3.5
3.5

3.0

2.5

Growth Rate 

Growth Rate

4.0

3.0

2.0

1.0
1.0

0.0

-1.0

2.0

1.5

1.0

0.5

0.0

-0.5

1.0
-1.0

-1.5

-2.0

-2.5

-3.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

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

10000

9000

8000

7000

6000

5000

4000

3000

2000

1000

0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

BOP current account 

%

3.5

3.0

2.5

2.0

1.5

1.0

Norwegian Krone/€

9.60

9.20

8.80

8.40

8.00

7.60

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

3-month interest rates

Long-term government bond yields - rates

Norwegian Krone exchange rates against the euro

  Eurostatistics — 03/2016 edition

79

2

Principal European Economic Indicators (PEEIs)

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)

2014Q4
0.7

2015Q1
-0.3

2015Q2
0.3

2015Q3
-0.1

2015Q4
0.4

0.3

0.9

0.1

-0.1

0.2

1.0

0.3

-0.3

0.1

-0.5

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2014Q4
2.1

2015Q1
1.3

2015Q2
1.2

2015Q3
0.8

2015Q4
0.4

1.1

2.6

1.3

1.7

1.0

2.3

1.2

2.4

0.8

-0.6

External trade balance 
(All countries of the world)

BOP Current account 
(All countries of the world) (1)(2)

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

mn euro

-

-

-

-

-

-

-

-

-

-

-

-

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

mn euro

16926.1

14304.8

20830.1

21431.6

:

Inflation (Harmonized Index  
of Consumer Prices - All items) 

Industrial producer prices (2)

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

2015M03
0.5
-0.4
0.1
-1.9

2015M04
-0.3
-0.9
-1.7
-3.4

2015M05
0.1
-0.9
-0.8
-4.2

2015M06
0.1
-0.6
0.0
-4.2

2015M07
-0.2
-0.9
-0.3
-4.4

2015M08
-0.5
-1.1
-0.6
-4.7

2015M09
0.3
-1.3
0.0
-4.7

2015M10
0.1
-1.1
0.3
-4.5

2015M11
-0.4
-1.2
0.3
-3.6

2015M12
-0.1
-1.4
-0.3
-3.6

2016M01
-0.7
-1.5
:
:

2016M02
:
:
:
:

Unemployment rate -  total (2)(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 %

Production in construction (2)(7)

Q/Q-1 %

Retail trade deflated turnover

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

General government deficit (-)/ 
surplus (+)

%

General government gross debt %

2015M03
:

2015M04
:

2015M05
:

2015M06
:

2015M07
:

2015M08
:

2015M09
:

2015M10
:

2015M11
:

2015M12
:

2016M01
:

2016M02
:

:

:

2014Q4
-
2014Q4
2.1

2015M03
-
-
2014Q4
:
2015M03
0.7
-2.4

:

:

2015Q1
-
2015Q1
-0.6

2015M04
-
-
2015Q1
:
2015M04
0.6
-0.6

:

:

2015Q2
-
2015Q2
-0.2

2015M05
-
-
2015Q2
:
2015M05
-0.6
-0.8

:

:

2015Q3
-
2015Q3
-0.3

2015M06
-
-
2015Q3
:
2015M06
1.4
-0.9

:

:

2015Q4
-
2015Q4
1.4

2015M07
-
-
2015Q4
:
2015M07
-0.6
1.1

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

-0.1

-

-0.3

-

-0.2

-

0.1

-

:

-

:

:

:

:

Q/Q-4 %

Q/Q-4 %

2015M08
-
-

2015M09
-
-

Q/Q-1 %
2015M09
-0.3
-1.3

2015M08
-0.5
-1.5

:

:

2014Q4
-
2014Q4
2.4

2015M10
-
-
2014Q4
:
2015M10
0.3
-0.9

:

:

2015Q1
-
2015Q1
3.0

2015M11
-
-
2015Q1
:
2015M11
-0.5
-1.5

:

:

2015Q2
-
2015Q2
1.6

2015M12
-
-
2015Q2
:
2015M12
0.9
-1.7

:

:

2015Q3
-
2015Q3
1.0

2016M01
-
-
2015Q3
:
2016M01
-0.3
0.2

:

:

2015Q4
-
2015Q4
0.3

2016M02
-
-
2015Q4
:
2016M02
:
:

Economic sentiment indicator (1)

index

-

-

-

-

-

-

-

-

-

-

-

-

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

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

%

%

Average

2015M03
-0.81

2015M04
-0.79

2015M05
-0.79

2015M06
-0.79

2015M07
-0.74

2015M08
-0.72

2015M09
-0.73

2015M10
-0.73

2015M11
-0.83

2015M12
-0.76

2016M01
-0.76

2016M02
-0.80

0.00

1.06

0.04

1.04

-0.03

1.04

0.10

1.05

-0.04

1.05

-0.12

1.08

-0.10

1.09

-0.27

1.09

-0.31

1.08

-0.04

1.08

-0.30

1.09

-0.45

1.10

(1)  sa: Seasonally adjusted data 
(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

80

Eurostatistics — 03/2016 edition 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Switzerland

Graph 1: Output

Growth rate

1.0

0.5

0.0

-0.5

-1.0

Principal European Economic Indicators (PEEIs)

2

Graph 2: Demand

Growth Rate (PFC, 
I)

2.0

1.0

0.0

-1.0

-2.0

Growth Rate (RT)

4.0

2.0

0.0

-2.0

-4.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

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

1.5

1.0

0.5

0.0
0.0

-0.5

-1.0

1.0

0.5

0.0

-0.5

-1.0

-1.5

-2.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

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

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

BOP current account 

%

1.0

0.5

0.0

-0.5

-1.0

-1.5

Swiss Franc/€

1.50

1.40

1.30

1.20

1.10

1.00

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

3-month interest rates

Long-term government bond yields - rates

Swiss Franc exchange rates against the euro

  Eurostatistics — 03/2016 edition

81

2

Principal European Economic Indicators (PEEIs)

Detailed PEEIs analysis for United States

Indicators

Unit

Reference Period

GDP (volume) (1)
Private final consumption (1)
(volume)
Investment (GFCF) (volume) (1)

Q/Q-1 % 

Q/Q-1 % 

Q/Q-1 % 

2014Q4
0.5

2015Q1
0.2

2015Q2
1.0

2015Q3
0.5

2015Q4
0.3

1.1

0.6

0.4

0.4

0.9

1.7

0.8

0.9

0.5

-0.1

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2014Q4
2.5

2015Q1
2.9

2015Q2
2.7

2015Q3
2.2

2015Q4
1.9

3.2

4.6

3.3

4.1

3.3

4.3

3.2

3.6

2.6

2.9

External trade balance 
(All countries of the world) (2)(3)

BOP Current account 
(All countries of the world) (2)(3)

Consumer Prices Index- 
All items(2)

Industrial producer prices (2)

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

mn euro

-63932.5 -55144.3 -53461.9 -55605.1 -53928.7 -59493.7 -52989.9 -55051.2 -55914.7 -56550.5

:

:

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

mn euro

-82523.6 -105048.4 -100507.6 -111651.5

:

M/M-1 % (3)
M/M-12 %
M/M-1 %
M/M-12 %

2015M03
-0.2
0.0
0.4
-5.1

2015M04
-0.1
-0.1
-0.3
-6.0

2015M05
-0.3
0.0
1.4
-4.6

2015M06
-0.2
0.2
0.4
-4.2

2015M07
-0.1
0.2
-0.2
-4.5

2015M08
0.0
0.2
-0.8
-5.3

2015M09
0.1
0.0
-1.4
-6.4

2015M10
-0.2
0.1
-0.3
-5.7

2015M11
-0.2
0.4
-0.3
-5.0

2015M12
0.1
0.7
-1.1
-4.3

2016M01
0.0
1.3
-0.8
-2.9

2016M02
:
:
:
:

Unemployment rate -  total (3)
Unemployment rate -  
age <25 year (3)
Unemployment rate -  
age >25 year (3)

%

%

%

Labour Cost Index (2) (3)(4)

Q/Q-1 %

Employment  (2)(5)

Q/Q-1 % (1)

Industrial production

Production in construction - 
value (2) (7)

Retail trade deflated turnover

M/M-1 % (3)
M/M-12 %
M/M-1 % (3)
M/M-12 %
M/M-1 % (3)
M/M-12 %

2015M03
5.5

2015M04
5.4

2015M05
5.5

2015M06
5.3

2015M07
5.3

2015M08
5.1

2015M09
5.1

2015M10
5.0

2015M11
5.0

2015M12
5.0

2016M01
4.9

2016M02
:

12.3

4.4

2014Q4
0.4
2014Q4
0.6

2015M03
-
-
:
:
-
-

11.6

4.4

2015Q1
0.5
2015Q1
0.6

2015M04
-
-
:
:
-
-

12.2

4.4

2015Q2
0.6
2015Q2
0.3

2015M05
-
-
:
:
-
-

12.0

4.2

2015Q3
0.6
2015Q3
0.2

2015M06
-
-
:
:
-
-

11.7

4.3

2015Q4
0.7
2015Q4
0.4

2015M07
-
-
:
:
-
-

10.9

4.2

11.1

4.1

Q/Q-4 %

Q/Q-4 %

2015M09
-
-
:
:
-
-

2015M08
-
-
:
:
-
-

11.1

4.1

2014Q4
2.1
2014Q4
2.2

2015M10
-
-
:
:
-
-

11.2

4.1

2015Q1
1.9
2015Q1
2.0

2015M11
-
-
:
:
-
-

11.2

4.0

2015Q2
2.0
2015Q2
1.9

2015M12
-
-
:
:
-
-

10.3

4.0

2015Q3
2.1
2015Q3
1.6

2016M01
-
-
:
:
-
-

:

:

2015Q4
2.4
2015Q4
1.4

2016M02
-
-
:
:
-
-

General government deficit (-)/ 
surplus (+)

%

General government gross debt %

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

-

-

-

-

-

-

-

-

-

-

Economic sentiment indicator (3)

index

-

-

-

-

-

-

-

-

-

-

-

-

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

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

%

%

Average

2015M03
0.27

2015M04
0.28

2015M05
0.28

2015M06
0.28

2015M07
0.29

2015M08
0.32

2015M09
0.33

2015M10
0.32

2015M11
0.37

2015M12
0.53

2016M01
0.62

2016M02
0.62

2.04

1.08

1.92

1.08

2.20

1.12

2.36

1.12

2.32

1.10

2.16

1.11

2.17

1.12

2.06

1.12

2.26

1.07

2.24

1.09

2.08

1.09

1.77

1.11

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

82

Eurostatistics — 03/2016 edition 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2

United States

Graph 1: Output

Growth rate

1.5

1.0

0.5

0.0

-0.5

-1.0

Graph 2: Demand

Growth Rate (PFC, 
I)

1.8

1.6

1.4

1.2

1.0

0.8

0.6

0.4

0.2

0.0

-0.2

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

GDP (q/q-1)

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

Investment (I) (q/q-1)

Graph 3: Labour

Graph  4: Prices

%

6.5

6.0

5.5

5.0

4.5

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

-2.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

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

%

3.0

2.5

2.0

1.5

1.0

0.5

0.0

€/$

1.50

1.40

1.30

1.20

1.10

1.00

0.90

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

BOP current account 

External trade balance  

2015M03
2015M05
3-month interest rate
Euro-dollar exchange rate

2015M07

2015M09

2015M11

2016M01

Long term government bond yields 

  Eurostatistics — 03/2016 edition

83

2

Principal European Economic Indicators (PEEIs)

Detailed PEEIs analysis for Japan

Indicators

Unit

Reference Period

GDP (volume) (1)
Private final consumption (1)
(volume)
Investment (GFCF) (volume) (1)

Q/Q-1 % 

Q/Q-1 % 

Q/Q-1 % 

2014Q4
0.6

2015Q1
1.0

2015Q2
-0.3

2015Q3
0.3

2015Q4
:

0.7

0.1

0.2

1.5

-0.8

0.3

0.4

0.2

:

:

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2014Q4
-0.9

2015Q1
-1.0

2015Q2
0.7

2015Q3
1.7

2015Q4
:

-2.2

-3.0

-4.2

-4.2

0.0

0.8

0.4

2.0

:

:

External trade balance 
(All countries of the world) (2)(3)

BOP Current account 
(All countries of the world) (2)(3)

Consumer Prices Index- 
All items (2)

Industrial producer prices (2)

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

mn euro

-120.2

-1542.5

-1309.9

-1796.0

-2335.6

-2357.8

-2149.8

-1448.6

167.0

269.1

:

:

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

mn euro

18627.3

28832.1

31455.7

26872.6

21940.3

M/M-1 % (3)
M/M-12 %
M/M-1 % 
M/M-12 %

2015M03
-0.1
2.3
0.3
0.4

2015M04
-0.2
0.6
0.1
-2.2

2015M05
-0.1
0.4
0.2
-2.0

2015M06
0.0
0.3
0.1
-2.0

2015M07
0.0
0.3
-0.3
-2.5

2015M08
0.0
0.2
-0.5
-3.0

2015M09
0.1
0.0
-0.5
-3.4

2015M10
-0.1
0.3
-0.4
-3.2

2015M11
0.1
0.3
-0.1
-3.2

2015M12
0.0
0.2
-0.5
-3.1

2016M01
0.3
-0.1
-1.1
-2.9

2016M02
:
:
:
:

Unemployment rate -  total (3)
Unemployment rate -  
age <25 year (3)
Unemployment rate - 
age >25 year (3)

%

%

%

Labour Cost Index (2)(4)

Q/Q-1 %

Employment (2)(5)

Q/Q-1 % (1)

Industrial production

Production in construction

Retail trade deflated turnover

M/M-1 % (3)
M/M-12 %
M/M-1 % (3)
M/M-12 %
M/M-1 % (3)
M/M-12 %

2015M03
3.4

2015M04
3.3

2015M05
3.3

2015M06
3.4

2015M07
3.3

2015M08
3.4

2015M09
3.4

2015M10
3.1

2015M11
3.3

2015M12
3.3

2016M01
:

2016M02
:

5.1

-

2014Q4
-0.1
2014Q4
0.0

2015M03
-
-
:
:
-
-

5.0

-

2015Q1
0.0
2015Q1
0.1

2015M04
-
-
:
:
-
-

5.5

-

2015Q2
-0.1
2015Q2
0.0

2015M05
-
-
:
:
-
-

5.6

-

2015Q3
0.4
2015Q3
0.3

2015M06
-
-
:
:
-
-

5.5

-

2015Q4
0.0
2015Q4
0.0

2015M07
-
-
:
:
-
-

5.6

-

5.9

-

Q/Q-4 %

Q/Q-4 %

2015M09
-
-
:
:
-
-

2015M08
-
-
:
:
-
-

5.5

-

2014Q4
0.5
2014Q4
0.3

2015M10
-
-
:
:
-
-

5.2

-

2015Q1
0.4
2015Q1
0.6

2015M11
-
-
:
:
-
-

5.2

-

2015Q2
-0.2
2015Q2
0.2

2015M12
-
-
:
:
-
-

:

-

2015Q3
0.2
2015Q3
0.4

2016M01
-
-
:
:
-
-

:

-

2015Q4
0.3
2015Q4
0.4

2016M02
-
-
:
:
-
-

General government deficit (-)/ 
surplus (+)

%

General government gross debt %

2014Q4

2015Q1

2015Q2

2015Q3

2015Q4

-

-

-

-

-

-

-

-

-

-

Economic sentiment indicator (3)  

index

-

-

-

-

-

-

-

-

-

-

-

-

2015M03

2015M04

2015M05

2015M06

2015M07

2015M08

2015M09

2015M10

2015M11

2015M12

2016M01

2016M02

3-month interest rate
Long term government  
bond yields 
Yen exchange rates 
against the euro (6)

%

%

2015M03
0.1

2015M04
0.1

2015M05
0.1

2015M06
0.1

2015M07
0.1

2015M08
0.1

2015M09
0.1

2015M10
0.1

2015M11
0.1

2015M12
0.1

2016M01
0.1

2016M02
0.0

0.4

0.3

0.4

0.5

0.4

0.4

0.4

0.3

0.3

0.3

0.2

0.0

Average

130.4

128.9

134.8

138.7

135.7

137.1

134.9

134.8

131.6

132.4

128.3

127.4

(1)  Source: OECD Main Economic Indicators database – Seasonally adjusted data
(2)  Calculated by Eurostat from OECD Main Economic Indicators database. There may be rounding differences with data published nationally
(3)  sa: Seasonally adjusted data
(4)  Monthly earnings
(5)  Civilian employment: all persons
(6)  Source: ECB
« : » not available data; « - » not existing data

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Principal European Economic Indicators (PEEIs)

2

Japan

Graph 1: Output

Growth rate

3.0

2.0

1.0

0.0

-1.0

-2.0

Graph 2: Demand

Growth Rate (PFC, 
I)

6.0

4.0

2.0

0.0

-2.0
2 0

-4.0

-6.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

GDP (q/q-1)

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

Investment (I) (q/q-1)

Graph 3: Labour

Graph  4: Prices

%

5.0

4.5

4.0

3.5

3.0

2.5

Growth Rate 

Growth Rate

2.0

1.0

0.0

-1.0

-2.0

-3.0

0.4

0.2

0.0

-0.2

-0.4

-0.6
0 6

-0.8

-1.0

-1.2

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

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

40000

30000

20000

10000
10000

0

-10000

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

%

1.4

1.2

1.0

0.8

0.6

0.4

0.2

0.0

2015M03

2015M05

2015M07

2015M09

2015M11

2016M01

Yen/€

160.00

150.00

140.00

130.00

120.00

110.00

100.00

90.00

BOP current account 

External trade balance  

3-month interest rates

Long-term government bond yields - rates

Yen exchange rate against the euro

  Eurostatistics — 03/2016 edition

85

2

Principal European Economic Indicators (PEEIs)

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

Quarterly growth in percentage, 2015 Q3

1.5

1.0

0.5

0.0

-0.5

-1.0

-1.5

l

o e
n

r
h

v

l

z
c

t
i

i
f

k
d

t
a

t
p

s
u

e
b

r
e f
d

l

n

9
1
a
e

8
2
u
e

h l
t
c

i

k s
u

s
e

Private Consumption, in volume Q/Q-1

Quarterly growth in percentage, 2015 Q3 

1.0

0.8

0.6

0.4

0.2

0.0

-0.2

-0.4

k p

l

s

o
r

e
s

z
c

r
h

e
s

t
l

s
e

k
u

o
n

s
u

l

p

8
2
u
e

e
b

i
s

k
d

e
d

t
i

v

l

t
a

t
p

i
f

h
c

l

n

r
f

9
1
a
e

Balance of payments, current account 

Millions of euro, 2015 Q3

80,000.0

60,000.0

40,000.0

20,000.0

0.0

-20,000.0

-40,000.0

-60,000.0

-80,000.0

-100,000.0

-120,000.0

-140,000.0

s
u

k
u

l

p

z
c

k
s

o
r

v l
t

l

y
c

e
e

e
b

t

m

i
s

u f

i

l

g
b

t
a

u
h

t
p

r
e f

i

r
h

l

o e
n

k
d

s
e

t
e i
s

l

n

h
c

p

j

e
d

8
2
u
e

86

Eurostatistics — 03/2016 edition 

Principal European Economic Indicators (PEEIs)

2

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

Monthly growth in percentage, 2015 M12

1.0

0.5

0.0

-0.5

-1.0

-1.5

-2.0

-2.5

-3.0

z
c

o
n

g
b

u
h

l

e p
e

k
s

r
h

t
l

i

k f
d

o
r

e
s

v

l

h
c

k
u

e

i

r
e f
d

t
a

t
p

i

u s
e

a
e

y
c

Unemployment rates, harmonized rates: total

u n

l

l

t

m

l

e e
b

t
i

s
e

As a percentage of unemployed persons in the total number of active population, 2015 M12

25.0

20.0

15.0

10.0

5.0

0.0

e
d

z
c

s
u

t

m

u

l

k
d

t
a

l

n

o p

l

r

e
s

e
b

g
b

8
2
u
e

e s

i

i

t
l

i
f

r
f

9
1
a
e

k
s

v i
t

l

t
p

y
c

r
h

s
e

Long term interest rates − Long term government bond yields*  

Average according to Maastricht definition, 2015 M12

10.0

9.0

8.0

7.0

6.0

5.0

4.0

3.0
3 0

2.0

1.0

0.0

l

e

r
h

y
c

o
r

l

u p
h

l

p

t
p

g
b

k
u

s
e

i
s

t
i

t
l

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

t

m

a
e

e

i

v

l

e
s

r
e f
b

i

k f
d

t
a

u

l

k
s

l

n

z
c

e
d

8
2
u
e

  Eurostatistics — 03/2016 edition

87

Symbols and codes 
in the tables

EU-28:   European Union (28 countries) 
EU-27:   European Union (27 countries) 
EA-19:   Euro area (19 countries) 
EA-18:   Euro area (18 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 
up to 31.12.2013 /  EA-18 up to 31.12.2014 /EA-19 onwards)

EA-12:   Euro area (12 countries) 
BE:  
BG:  
CZ:  
DK:  
DE:  
EE:  
IE:  
EL:  
ES:  
FR:  
HR:  
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 
Croatia
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 8th  March 2016.

88

Eurostatistics — 03/2016 edition