Eurostatistics. Data for short-term economic analysis. Issue number 10/2016.
Date: 2016-10-17
Institutions: Eurostat
Subjects: EU statistics, economic analysis, economic situation, economic statistics, short-term economic prospects

Eurostatistics

DATA FOR SHORT-TERM ECONOMIC ANALYSIS

10/2016

S T A T I S T I C A L 
B O O K S

STATISTICAL BOOKSMain title 2016 editionEurostatistics

DATA FOR SHORT-TERM ECONOMIC ANALYSIS

10/2016

Europe Direct is a service to help you find answers  
to your questions about the European Union

Freephone number (*):

00 800 6 7 8 9 10 11

(*) Certain mobile telephone operators do not allow access  
to 00 800 numbers or these calls may be billed.

More information on the European Union is available on the Internet (http://europa.eu).

Luxembourg: Publications Office of the European Union, 2016

ISSN 1831-3221
Cat. No KS-BJ-16-010-EN-N

Theme: General and regional statistics
Collection: Statistical books

© European Union, 2016
Reproduction of content other than photos is authorised provided the source is acknowledged.

For more information, please consult: http://ec.europa.eu/eurostat/about/our-partners/copyright

© Cover photo: Shutterstock-isak55

For reproduction or use of these photos, permission must be sought directly from the copyright holder.

 
Contents

Summary analysis  .....................................................................................................................  5

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

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

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

Cyclical indicators for the euro area   .............................................................................................. 8

Latest cyclical estimates for the EA and the EU  ......................................................................  11

Methodological notes  ......................................................................................................................  14

Principal European Economic Indicators (PEEIs)  ............................................................... 17

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

Detailed PEEIs analysis for Euro area ...........................................................................................  20

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

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

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

Contents

3

Eurostatistics — 10/2016 edition  Editorial

International context: GDP 
growth rebounded in the US and 
in China in Q2 2016 

Federal Statistics State Service (Rosstat), the annual GDP 
growth rate in Russia contracted by 0.6% in Q2 2016, 
following a larger contraction of 1.2% in Q1. Q2 2016 is 
the lowest level of quarterly contraction of the Russian 
economy since Q1 2015.

European Union and euro area: 
GDP growth rate decelerated in 
Q2 2016 in the euro area

The GDP growth decelerated in the euro area in Q2 
2016 with a quarterly rate of 0.3% down from 0.5% in 
Q1. The annual GDP growth rate was 1.6% in Q2 2016, 
down from 1.7% in Q1. The unemployment rate was 
10.1% in August 2016 in the euro area, stable compared 
to July 2016 and down from 10.7% in August 2015. The 
Economic Sentiment Indicator (ESI) rebounded by 1.4 
points in September 2016 to 104.9 after three months of 
negative or flat growth.

 The flash estimate of the euro area annual inflation rate 
was 0.4% in September 2016, up from 0.2% in August 
2016. In September the annual inflation rate for energy 
continued to decline with a rate of-3.0% after -5.6% in 
August 2016 and -8.7% in April 2016.

The EU GDP quarterly GDP growth rate was 0.4% in Q2 
2016, slightly declining from 0.5% in Q1. The annual GDP 
growth rate of the EU was 1.8% in Q2 2016, down from 
1.9% in Q1.

The third estimate revised up to 1.4% the GDP annual 
growth rate of the US in Q2 2016. The BEA also revised 
in August 2016 the US GDP annual growth rates for 
Q1 2016 and Q4 2015 to 0.8% and 0.9% respectively. 
In Q2 2016, the growth in GDP was fed by an increase 
in consumer expenditure partly offset by a decline in 
inventory investment. The unemployment rate was 
4.9% in the US in August 2016, unchanged compared to 
July 2016 but down from 5.1% in August 2015.

Regarding the BRICS countries (Brazil, Russia, India, 
China and South Africa), China reported an acceleration 
of its quarterly GDP growth, with a rate of 1.8% in Q2 
2016 after 1.2% in Q1 2016. The annual GDP growth rate 
remained nevertheless stable at 6.7% in Q2 2016, the 
same as in Q1.  In India, GDP growth decelerated with 
a quarterly rate of 1.4% in Q2 2016, down from 2.0% in 
Q1. The deceleration in the quarterly GDP growth was 
more than accounted for by the decrease in private final 
expenditure from a quarterly rate of 2.5% in Q1 to 1.2% 
in Q2 2016. The annual GDP growth rate declined to 
7.1% in Q2 2016, down from 7.9% in Q1.  

In Brazil the GDP growth rate was -0.6% in Q2 2016, after 
-0.4% in Q1. Q2 2016 is the sixth quarter of contraction 
in a row for the Brazilian economy. The annual GDP 
growth rate improved to -3.8% in Q2 2016 after -5.4% 
in Q1. South Africa reported a GDP growth rate of 0.8% 
in Q2 2016, up from -0.3% in Q1. Improvement were 
noticeable for quarterly growth rate of private final 
consumption (from -0.4% in Q1 to 0.3% in Q2 2016), 
gross fixed capital formation (-2.6% in Q1 compared to 
-1.2% in Q2 2016) and exports (from -2.1% in Q1 to 4.2% 
in Q2 2016). The annual GDP growth rate rose to 0.7% in 
Q2 2016, compared with -0.6% in Q1. According to the 

5

Eurostatistics — 10/2016 edition   16. Summary analysis1 Summary Analysis

Situation in the Member states:  
Contrasting situation in GDP 
growth among the five EU 
largest economies in Q2 2016  

In Q2 2016, GDP growth continued to be sound in Spain 
with a quarterly rate of 0.8%, unchanged since Q3 2015. 
The annual rate declined to 3.2% in Q2 2016 from 3.4% 
in Q1. The UK also declared a solid GDP growth rate 
for Q2 2016 of 0.6%, up from 0.4% in Q1. The annual 

GDP growth rate was 2.2% in Q2 2016, up from 2.0% 
in Q1. GDP decelerated in Germany with a growth rate 
of 0.4% in Q2 2016, down from 0.7% in Q1. The annual 
GDP growth slightly declined to 1.7% in Q2 2016 from 
1.8% in Q1. Italy declared a zero GDP growth rate in Q2 
2016, down from 0.3% in Q1. The annual GDP growth 
declined to 0.8% in Q2 2016 after 1.0% in Q1. France 
declared a contraction of its GDP, with a rate of -0.1% in 
Q2 2016 after 0.7% in Q1. Annual GDP growth slightly 
declined to 1.3% in Q2 2016 from 1.4% in Q1.

Latest macroeconomic developments 

Mixed economic indicators in the 
euro area

EVOLUTION OF GDP

Seasonally adjusted GDP rose by 0.3% in the euro area 
(EA19) and by 0.4% in the EU28 during the second 
quarter of 2016, compared with the previous quarter, 
according to an estimate published by Eurostat. In the 
first quarter of 2016, GDP grew by 0.5% in both zones. 
Compared with the same quarter of the previous year, 
seasonally adjusted GDP rose by 1.6% in the euro area 
and by 1.8% in the EU28 in the second quarter of 2016, 
after +1.7% and +1.9% respectively in the previous 
quarter. 

INDUSTRIAL PRODUCTION

In July 2016 compared with June 2016, seasonally and 
calendar adjusted industrial production fell by 1.1% in 
the euro area (EA19) and by 1.0% in the EU28, according 
to estimates from Eurostat. In June 2016 industrial 
production rose by 0.8% in the euro area and by 0.7% 
in the EU28. In July 2016 compared with July 2015, 
industrial production decreased by 0.5% in the euro 
area and by 0.1% in the EU28.

CONSTRUCTION PRODUCTION

In July 2016 compared with June 2016, seasonally and 
calendar adjusted production in the construction sector 
increased by 1.8% in the euro area (EA19) and by 1.1% 
in the EU28, according to first estimates from Eurostat. 
In June 2016, production in construction rose by 0.3% 
in the euro area and was stable in the EU28. In July 2016 
compared with July 2015, production in construction 
grew by 3.1% in the euro area and by 1.0% in the EU28.

RETAIL TRADE 

In August 2016 compared with July 2016, the seasonally 
and calendar adjusted volume of retail trade fell by 0.1% 
in both the euro area (EA19) and the EU28, according to 
estimates from Eurostat. In July the retail trade volume 
increased by 0.3% in the euro area and by 0.5% in the 
EU28. In August 2016 compared with August 2015, the 
calendar adjusted retail sales index increased by 0.6% in 
the euro area and by 2.1% in the EU28.

INFLATION 

Euro area annual inflation is expected to be 0.4% in 
September 2016, up from 0.2% in August and July 
2016, according to a flash estimate from Eurostat. In 
August 2015 the rate was 0.1%. European Union annual 
inflation was 0.3% in August 2016, up from 0.2% in July. 
A year earlier the rate was 0.0%.   

UNEMPLOYMENT 

The euro area (EA19) seasonally-adjusted 
unemployment rate was 10.1% in August 2016, stable 
compared to July 2016 and down from 10.7% in August 
2015. This remains the lowest rate recorded in the euro 
area since July 2011. The EU28 unemployment rate 
was 8.6% in August 2016, stable compared to July 2016 
and down from 9.3% in August 2015. This remains the 
lowest rate recorded in the EU28 since March 2009. 
Eurostat estimates that 20.973 million men and women 
in the EU28, of whom 16.326 million were in the euro 
area, were unemployed in August 2016. Compared 
with July 2016, the number of persons unemployed 
decreased by 40 000 in the EU28, while it increased by 
8 000 in the euro area. Compared with August 2015, 
unemployment fell by 1.587 million in the EU28 and by 
875 000 in the euro area. 

6

  Eurostatistics — 10/2016 editionSummary Analysis

1

INTEREST RATES

On 8 September 2016, The Governing Council of the 
European Central Bank decided to keep the interest 
rate on the main refinancing operations at 0.00%. 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 Bank 
of England Monetary Policy Committee decided to 
decrease the interest rate to 0.25 percent on August 
4th 2016. The euro area’s 3-month rate, Euribor, remains 
stable at –0.30% in September and August after –0.29 
in July 2016. Long-term interest rates (monthly average 
weighted 10-year government bond yield) of the euro 
area decreased at 0.59% in August after 0.62% in July 

2016. The EU28 long-term interest rates decreased to 
0.78% in August from 0.85% in July 2016.

EXCHANGE RATES

The euro / US dollar exchange rate (monthly average) 
remains stable at USD 1.1212 in September after 1.1019 
in July 2016. The euro decreased against the Japanese 
yen in September 2016 with an exchange rate of Yen 
114.22 for one euro. The euro increased against the 
Swiss Franc at SF 1.092 in September from 1.088 in 
August 2016. The euro / UK Pound Sterling exchange 
rate slightly decreased to GBP 0.8523 in September from 
0.8552 in August and 0.8411 in July 2016.

Growth forecasts for the euro area 

Accelerating growth forecasted 
in the euro area 

According to the Eurogrowth Indicator, the euro area 
growth would accelerate to 0.5% in the fourth quarter 
of 2016 after 0.4% in the third quarter. The year-on-year 
growth rate is expected to reach 1.7% in 2016Q3 and 
1.8% in 2016Q4. 

The acceleration of the GDP for 2016Q3 is mainly 
due to an improved economic sentiment in the 
Industrial survey. The acceleration of growth in 2016Q4 
is explained by the improvement in household 
confidence and a better assessment of the economic 
situation in the construction sector. The exchange rate 
has a small negative impact.

The negative impact of the Brexit is less pronounced 
than expected. A continuation of the moderate growth 
is confirmed.

The €-coin indicator recorded in September a new, 
slight increase, to 0.34 from 0.32 in August, returning to 
the level reported in March. The effects deriving from 
the recent improvement in the stock markets, after the 
high volatility seen in the preceding months, offset the 
fall in industrial production and the persisting weakness 
in price dynamics.

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.

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

Figure 2: Year-over-year GDP growth indicators  
(q/q–4)

1.0

0.8

0.6

0.4

0.2

0.0

2014Q4

2015Q2

2015Q4

2016Q2

2016Q4

2.5

2.0

1.5

1.0

0.5

0.0

2014Q4

2015Q2

2015Q4

2016Q2

2016Q4

GDP release

Euroframe

EuroCoin

GDP release

Euroframe

EuroCoin

7

Eurostatistics — 10/2016 edition  1 Summary Analysis

Table 1: Comparison of GDP growth forecasts for the euro area

Over previous quarter (q/q–1)

Over previous year (q/q–4)

2016Q1

2016Q2

2016Q3

2016Q4

2016Q1

2016Q2

2016Q3

2016Q4

Percentage change

EUROSTAT release

EUROFRAME

EuroCOIN

0.5

0.4

0.4

0.3

0.5

0.3

0.5

0.3

:

0.5

:

1.7

2.0

2.1

1.6

1.6

1.4

:

1.6

1.3

:

1.8

:

Cyclical indicators for the euro area 

Netherlands, Slovakia and Slovenia occupy mid-range 
positions. Assessments of the current economic 
situation primarily improved in Austria and Lithuania. In 
Greece and Portugal, by contrast, WES experts reported 
a further deterioration in the already unfavourable 
economic situation. Despite a slight improvement, 
assessments of the economic situation were also 
predominantly negative in Finland, France, Italy and 
Spain.

The six-month economic outlook continued to cloud 
over in the majority of countries, but remains positive 
on balance. The only countries where WES experts 
expressed scepticism about the economic outlook 
were France, Greece, Latvia and Portugal. In Spain, by 
contrast, sentiment among experts was more positive 
once again. For 2016 experts expect an inflation rate 
of 0.7 percent in the euro area. In the mid-term (2021) 
inflation expectations remained at 1.8 percent this 
quarter.

The DZ BANK’s Euro-Indicator fell by 0.2 per cent to 
98.2 points. As a result, the year-on-year rate also fell, 
down from +0.1 to –0.2 per cent. 

The IARC turning point indicator stands at 68.9% in 
August, still below the significant 80% signal threshold 
which indicates a risk of a slowdown. 

The start-end recession indicator (IESR) decreased 
to a low 2.4% in September after a short-lived upswing 
to 6.8% in August, showing no risk of a recession in the 
euro area.

Relative improvement of the 
cyclical indicators in September  

The Business Climate Indicator (BCI) increased 
markedly (by 0.42 points to +0.45). Managers’ 
assessments of past production and the level of overall 
order books improved sharply, the same going, to 
a more moderate extent, for export order books, 
production expectations and the stocks of finished 
products.

The Composite leading indicators (CLIs) continue 
to point to stable growth momentum in the OECD 
area Stable growth momentum is anticipated in the 
United States, Japan and Canada as well as the euro 
area as a whole, particularly in Germany and France. 
In Italy, the CLI points to weak growth momentum. 
Though uncertainty persists about the nature of the 
agreement the UK will eventually conclude with the EU, 
the short-term outlook for the United Kingdom remains 
unchanged from last month’s assessment, with the 
CLI continuing to point to growth stabilising around a 
lower rate. Amongst major emerging economies, stable 
growth momentum is expected in China while in Russia 
and Brazil the CLIs continue to point to growth picking 
up. In India the CLI anticipates firming growth.

The IFO Index for the economic climate in the euro 
area fell to 111.6 points in the third quarter from 112.7 
points in the second quarter, but nevertheless remains 
way above its long-term average. The deterioration 
in the economic climate was entirely due to less 
positive assessments of the economic outlook. The 
current economic situation, by contrast, improved. The 
economic recovery in the euro area continued this 
quarter, but lacked impetus.

Assessments of the current economic situation were 
once again most positive in Germany and Ireland, 
with Austria, Belgium, Estonia, Latvia, Lithuania, The 

8

  Eurostatistics — 10/2016 editionSummary Analysis

1

Table 2: Comparison of indicators of turning points in the business cycle for the euro area

OECD-CLI

DZ-Euroland indicator

Index

Index

DG ECFIN Business Climate Indicator Points of std-dev.

100.3

98.5

0.26

100.3

98.4

0.22

100.3

98.4

0.38

100.3

98.2

0.0.3

:

:

0.45

2016M5

2016M6

2016M7

2016M8

2016M9

IFO

2015Q4

2016Q1

2016Q2

2016Q3

122

118.9

112.7

111.6

Figure:  DZ-Euroland and IFO Business climate 
Indicators

Figure: DG-ECFIN Business climate Indicator

10 

5 

0 
10 
5 
– 5
0 
– 10
– 5
– 10
– 15
– 15
– 20
– 20
– 20
– 25
– 25

2005
2005

140
130
120
140
110
130
100
120
110
90
100
80
90
80
70
70
60
60
50
50

2 

1 

0 
2 
1 
– 1
0 
– 2
– 1
– 2
– 3
– 3
– 4
– 4
– 4
– 5
– 5

2007
2007

2009
2009

2011
2011

2013
2013

2015
2015

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

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

6 
4 
2 
6 
0 
4 
– 2
2 
0 
– 4
– 2
– 6
– 4
– 6
– 8
– 8
– 10
– 10
– 12
– 12

2007
2007

2009
2009

2011
2011

2013
2013

2015
2015

DZ-Euroland-Indicator (left-hand scale)
DZ-Euroland-Indicator (left-hand scale)

Y-O-Y GDP growth rate (left-hand scale)
Y-O-Y GDP growth rate (left-hand scale)
IFO Indicator (right-hand scale)

Figure:  OECD Leading indicator 

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

9

Eurostatistics — 10/2016 edition   
1 Summary Analysis

Table: Turning point indicators for the euro area 

IARC

IESR

Probability index

Probability index

99.7

0.1

82.1

0.1

59.9

0.0

61.4

0.1

64.4

0.0

68.9

:

2016M4

2016M5

2016M6

2016M7

2016M8

2016M9

Figure: IARC indicator

100
90
80
70
60
60
50
40
30
20
10
0

Probability for a trough

Probability for a peak

4
5
1
1
-
-
v
n
o
u
N N D J J F M M A M M J
N
J

4
1
-
v
o
N

4
1
-
c
e
D

5
1
-
y
a
M

5
1
-
y
a
M

5
1
-
r
a
M

5
1
-
r
a
M

5
1
-
b
e
F

5
1
-
r
p
A

5
1
-
n
a
J

5
1
-
n
a
J

5
1
-
l
u
J

5
6
1
1
-
-
g
n
u
u
A A S O O N D D J F F M A A M J
A
J

5
1
-
g
u
A

5
1
-
v
o
N

5
1
-
c
e
D

5
1
-
c
e
D

5
1
-
p
e
S

6
1
-
b
e
F

6
1
-
b
e
F

6
1
-
r
a
M

6
1
-
y
a
M

6
1
-
r
p
A

6
1
-
r
p
A

5
1
-
t
c
O

5
1
-
t
c
O

6
1
-
n
a
J

6
1
-
l
u
J

6
1
-
l
u
J

6
6
1
1
-
-
g
p
u
e
A S
S
A

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

Figure: IESR indicator

5
1
-
b
b
e
F

5
1
-
r
a
M

5
1
-
r
p
p
A

5
1
-
y
y
a
M

5
1
-
n
n
u
J

5
1
-
l
u
u
J

5
1
-
g
g
u
A

5
1
-
p
p
e
S

5
1
-
t
c
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

6
1
-
r
a
M

6
1
-
r
p
p
A

6
1
-
y
y
a
M

6
1
-
n
n
u
J

6
1
-
l
u
u
J

6
1
-
g
g
u
A

1.0

0.5

0.0

10

  Eurostatistics — 10/2016 editionSummary Analysis

1

Latest cyclical estimates for the EA and the EU

Figure: EA GDP, trend and cycle with HP filter

Figure: EU28 GDP, trend and cycle with HP filter

( GDP, Trend)

2500000

2300000

2100000

1900000

1700000

1500000

(Cycle)

120000 

( GDP, Trend)

3250000

80000 

3050000

40000 

2850000

0 

2650000

– 40000

2450000

– 80000

2250000

1
Q
5
9
9
1

1
Q
7
9
9
1

1
Q
9
9
9
1

1
Q
1
0
0
2

1
Q
3
0
0
2

1
Q
5
0
0
2

1
Q
7
0
0
2

1
Q
9
0
0
2

1
Q
1
1
0
2

1
Q
3
1
0
2

1
Q
5
1
0
2

GDP

Trend 

Cycle

1
Q
5
9
9
1

1
Q
7
9
9
1

1
Q
9
9
9
1

1
Q
1
0
0
2

1
Q
3
0
0
2

1
Q
5
0
0
2

1
Q
7
0
0
2

1
Q
9
0
0
2

1
Q
1
1
0
2

1
Q
3
1
0
2

1
Q
5
1
0
2

GDP

Trend 

Cycle

Figure: EA GDP, trend and cycle with CF filter

Figure: EU28 GDP, trend and cycle with CF filter

( GDP, Trend)

2500000

2300000

2100000

1900000

1700000

1500000

(Cycle)

120000 

( GDP, Trend)

3250000

80000 

3050000

40000 

2850000

0 

2650000

– 40000

2450000

– 80000

2250000

1
Q
5
9
9
1

1
Q
7
9
9
1

1
Q
9
9
9
1

1
Q
1
0
0
2

1
Q
3
0
0
2

1
Q
5
0
0
2

1
Q
7
0
0
2

1
Q
9
0
0
2

1
Q
1
1
0
2

1
Q
3
1
0
2

1
Q
5
1
0
2

GDP

Trend 

Cycle

1
Q
5
9
9
1

1
Q
7
9
9
1

1
Q
9
9
9
1

1
Q
1
0
0
2

1
Q
3
0
0
2

1
Q
5
0
0
2

1
Q
7
0
0
2

1
Q
9
0
0
2

1
Q
1
1
0
2

1
Q
3
1
0
2

1
Q
5
1
0
2

GDP

Trend 

Cycle

Figure: EA GDP, trend and cycle with UC filter

Figure: EU28 GDP, trend and cycle with UC filter

( GDP, Trend)

2500000

2300000

2100000

1900000

1700000

1500000

(Cycle)

120000 

( GDP, Trend)

3250000

80000 

3050000

40000 

2850000

0 

2650000

– 40000

2450000

– 80000

2250000

(Cycle)

150000 

100000 

50000 

0 

50000
– 50000

– 100000

– 150000

(Cycle)

150000 

100000 

50000 

0 

50000
– 50000

– 100000

– 150000

(Cycle)

150000 

100000 

50000 

0 

50000
– 50000

– 100000

– 150000

1
Q
5
9
9
1

1
Q
7
9
9
1

1
Q
9
9
9
1

1
Q
1
0
0
2

1
Q
3
0
0
2

1
Q
5
0
0
2

1
Q
7
0
0
2

1
Q
9
0
0
2

1
Q
1
1
0
2

1
Q
3
1
0
2

1
Q
5
1
0
2

GDP

Trend 

Cycle

1
Q
5
9
9
1

1
Q
7
9
9
1

1
Q
9
9
9
1

1
Q
1
0
0
2

1
Q
3
0
0
2

1
Q
5
0
0
2

1
Q
7
0
0
2

1
Q
9
0
0
2

1
Q
1
1
0
2

1
Q
3
1
0
2

1
Q
5
1
0
2

GDP

Trend 

Cycle

Note: 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.
Source: 

11

Eurostatistics — 10/2016 edition  1 Summary Analysis

Figure: EA IPI,trend and cycle with HP filter

Figure: EU28 IPI, trend and cycle with HP filter

( IPI, Trend)

(Cycle)

( IPI, Trend)

120

115

110

105

100
95

90
90

85

80
75

12 

9 

6 

3 

0 
– 3

6
– 6

– 9

– 12
– 15

120

115

110

105
100

95

90
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

IPI

Trend 

1
M
1
1
0
2

1
M
3
1
0
2

1
M
5
1
0
2

1
M
7
0
0
2

1
M
9
0
0
2

Cycle

1
M
5
9
9
1

1
M
7
9
9
1

1
M
9
9
9
1

IPI

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

Trend 

Cycle

Figure: EA IPI, trend and cycle with CF filter

Figure: EU28 IPI, trend and cycle with CF filter

( IPI, Trend)

(Cycle)

( IPI, Trend)

120

115

110

105
100

95

90
90
85

80

75

12 

9 

6 

3 
0 

– 3

6
– 6
– 9

– 12

– 15

120

115

110
105

100

95

90
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

IPI

Trend 

1
M
1
1
0
2

1
M
3
1
0
2

1
M
5
1
0
2

1
M
7
0
0
2

1
M
9
0
0
2

Cycle

1
M
5
9
9
1

1
M
7
9
9
1

1
M
9
9
9
1

IPI

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

Trend 

Cycle

Figure: EA IPI, trend and cycle with UC filter

Figure: EU28 IPI, trend and cycle with UC filter

( IPI, Trend)

(Cycle)

( IPI, Trend)

120

115

110
105

100

95

90
90

85
80

75

12 

9 

6 
3 

0 

– 3

6
– 6

– 9
– 12

– 15

120

115
110

105

100

95

90
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

IPI

Trend 

Cycle

1
M
5
9
9
1

1
M
7
9
9
1

1
M
9
9
9
1

IPI

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

Trend 

Cycle

Note:The estimation is based on monthly industrial production index (excluding construction), seasonally-adjusted volumes (year 2010=100).
Source:

(Cycle)

12 

9 

6 

3 
0 

– 3

6
– 6

– 9
– 12

– 15

(Cycle)

12 

9 

6 
3 

0 

– 3

6
– 6
– 9

– 12

– 15

(Cycle)

12 

9 
6 

3 

0 

– 3

6
– 6
– 9

– 12

– 15

12

  Eurostatistics — 10/2016 editionSummary Analysis

1

Figure: EA Employment, trend and cycle with HP filter

Figure: EU28 Employment, trend and cycle with HP filter

( Emp.,Trend)

(Cycle)

( Emp.,Trend)

155000

150000

145000

140000

135000

130000

125000

120000

115000

8000 

6000 

4000 

2000 

0 

– 2000

– 4000

– 6000

– 8000

235000

230000

225000

220000

215000

210000

205000

200000

(Cycle)

8000 

6000 

4000 

2000 

0 

– 2000

– 4000

– 6000

1
Q
5
9
9
1

1
Q
7
9
9
1

1
Q
9
9
9
1

1
Q
1
0
0
2

1
Q
3
0
0
2

1
Q
5
0
0
2

1
Q
7
0
0
2

1
Q
9
0
0
2

1
Q
1
1
0
2

1
Q
3
1
0
2

1
Q
5
1
0
2

1
Q
5
9
9
1

1
Q
7
9
9
1

1
Q
9
9
9
1

1
Q
1
0
0
2

1
Q
3
0
0
2

1
Q
5
0
0
2

1
Q
7
0
0
2

1
Q
9
0
0
2

1
Q
1
1
0
2

1
Q
3
1
0
2

1
Q
5
1
0
2

Employment (Emp.)

Trend 

Cycle

Employment

Trend 

Cycle

Figure: EA Employment, trend and cycle with CF filter

Figure: EU28 Employment, trend and cycle with CF filter

( Emp.,Trend)

(Cycle)

( Emp.,Trend)

155000

150000

145000

140000

135000

130000

125000

120000

115000

8000 

6000 

4000 

2000 

0 

– 2000

– 4000

– 6000

– 8000

235000

230000

225000

220000

215000

210000

205000

200000

(Cycle)

8000 

6000 

4000 

2000 

0 

– 2000

– 4000

– 6000

1
Q
5
9
9
1

1
Q
7
9
9
1

1
Q
9
9
9
1

1
Q
1
0
0
2

1
Q
3
0
0
2

1
Q
5
0
0
2

1
Q
7
0
0
2

1
Q
9
0
0
2

1
Q
1
1
0
2

1
Q
3
1
0
2

1
Q
5
1
0
2

1
Q
5
9
9
1

1
Q
7
9
9
1

1
Q
9
9
9
1

1
Q
1
0
0
2

1
Q
3
0
0
2

1
Q
5
0
0
2

1
Q
7
0
0
2

1
Q
9
0
0
2

1
Q
1
1
0
2

1
Q
3
1
0
2

1
Q
5
1
0
2

Employment

Trend 

Cycle

Employment

Trend 

Cycle

Figure: EA Employment, trend and cycle with UC filter

Figure: EU28 Employment, trend and cycle with UC filter

( Emp.,Trend)

(Cycle)

( Emp.,Trend)

155000

150000

145000

140000

135000

130000

125000

120000

115000

8000 

6000 

4000 

2000 

0 

– 2000

– 4000

– 6000

– 8000

235000

230000

225000

220000

215000

210000

205000

200000

1
Q
5
9
9
1

1
Q
7
9
9
1

1
Q
9
9
9
1

1
Q
1
0
0
2

1
Q
3
0
0
2

1
Q
5
0
0
2

1
Q
7
0
0
2

1
Q
9
0
0
2

1
Q
1
1
0
2

1
Q
3
1
0
2

1
Q
5
1
0
2

1
Q
5
9
9
1

1
Q
7
9
9
1

1
Q
9
9
9
1

1
Q
1
0
0
2

1
Q
3
0
0
2

1
Q
5
0
0
2

1
Q
7
0
0
2

1
Q
9
0
0
2

1
Q
1
1
0
2

1
Q
3
1
0
2

1
Q
5
1
0
2

Employment

Trend 

Cycle

Employment

Trend 

Cycle

Note: The estimation is based on total employment (domestic concept) series, seasonally and calendar adjusted (in thousand of persons), ESA2010.
Source:

(Cycle)

8000 

6000 

4000 

2000 

0 

– 2000

– 4000

– 6000

13

Eurostatistics — 10/2016 edition  1 Summary Analysis

Methodological notes

Indicators of growth and turning 
points — sources and methods

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. 

€-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).

14

  Eurostatistics — 10/2016 edition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

Summary Analysis

1

15

Eurostatistics — 10/2016 edition  17

Eurostatistics — 10/2016 edition   28. 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)

2015Q2
0.4

2015Q3
0.4

2015Q4
0.5

2016Q1
0.5

2016Q2
0.4

Q/Q–4 %

2015Q2
2.2

2015Q3
2.1

2015Q4
2.4

2016Q1
1.7

2016Q2
2

0.5

0.4

0.6

0.5

0.4

1.2

0.7

0.1

0.4

0.2

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

Q/Q–4 %

1.9

2.1

2.1

2.3

2.3

Q/Q–4 %
2016M04

3.7

4.1
2016M05 2016M06 2016M07 2016M08 2016M09

3.2

1.9

3.1

External trade balance 
(extra EU28) (2)

BOP Current account  
(extra EU28)

mn euro

1976.2

5685.3 11787.7

5501

2733.6

3956.2

2826.5

4734.6

2973.3

54.2

:

:

2015Q2

2015Q3

2015Q4

2016Q1

2016Q2

mn euro

29336.2 52799.4

55311

34331.6 38015.7

Inflation (Harmonized Index  
of Consumer Prices – All items) 

Industrial producer prices

M/M–1 %
M/M–12 %
M/M–1 % 
M/M–12 %

Unemployment 
rate 

 total (2)
age <25 year (2)
age >25 year (2)

%
%
%

Labour Cost Index 

Q/Q–1 % (1)

Employment

Industrial production

Production in construction

Retail trade deflated turnover

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 %

General government deficit (–) 
/surplus (+)
General government gross debt

%

%

Economic sentiment indicator (2) 

index

–1.2
0.3
–1.1
–3

0.1
0
–0.3
–3.6

0
0.2
–0.8
–3.2

–0.1
0.1
–0.2
–3.5

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
1
0
0.4
–4
2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
8.7
18.9
7.7

0.1
–0.1
–0.6
–4.1

9
19.6
7.9
2015Q3
0.3
2015Q3
0.4

9
19.5
7.9
2015Q4
0.6
2015Q4
0.4

8.9
19.4
7.8
2016Q1
0.3
2016Q1
0.4

8.9
19.2
7.8
2016Q2
0.2
2016Q2
0.3

9.1
19.9
8
2015Q2
0.4
2015Q2
0.3

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

0.5
2.9
0.4
0.9
0
3.3
2015Q2

–2

87.7

–0.3
2.3
0.8
1.5
0.4
3.3
2015Q3

–2.1

86.1

–0.6
0.6
0.2
2.2
0.2
2.9
2015Q4

–2.4

85.3

2.2
3.2
1.1
4.2
0.6
2.9
2016Q1

–2.3

84.8

–1
0.7
–0.5
3.8
0.1
3.3
2016Q2

:

:

–0.6
0.1
–1.8
–0.6
–0.4
2.3

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
107.4
104.6
2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

106.7

105.3

107.2

108.5

2016M04
0.1
–0.2
–0.2
–4.2
2016M04
8.7
18.8
7.6

Q/Q–4 % (3)

Q/Q–4 %
2016M04
1.3
2.5
0.9
–0.5
0.6
2.7

:
:
:
:

0.1
0.3
–0.2
–1.6

0.3
–0.1
0.6
–3.7

0.2
0.1
0.8
–2.9

8.6
18.7
7.6
2015Q3
2
2015Q3
1.2

8.6
18.8
7.6
2015Q2
1.9
2015Q2
1.1

2016M05 2016M06 2016M07 2016M08 2016M09
–0.4
0.2
0.3
–2.3
2016M05 2016M06 2016M07 2016M08 2016M09
8.6
18.7
7.6
2015Q4
2.2
2015Q4
1.3
2016M05 2016M06 2016M07 2016M08 2016M09
–1
–0.1
1.1
1
0.5
2.9

:
:
:
2016Q2
1.4
2016Q2
1.5

8.6
18.6
7.6
2016Q1
1.6
2016Q1
1.4

–1.1
0.9
–0.4
0.2
0.5
3

0.7
0.8
0
0.5
–0.1
2.7

:
:
:
:
–0.1
2.1

:
:
:
:
:
:

2016M04
105.1
2016M04
–

105.7

2016M05 2016M06 2016M07 2016M08 2016M09
105.6
105.6
104.7
2016M05 2016M06 2016M07 2016M08 2016M09
–

103.8

–

–

–

0.85

–

0.78

–

:

–

–

–

–

–

–

–

–

–

%

%

1.43

1.43

1.28

1.42

1.47

Average

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

1.19

1.18

1.08

1.2

–

–

–

–

–

–

–

–

18

  Eurostatistics — 10/2016 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 

Index
115.0

110.0

105.0

100.0

95.0

90.0

85.0

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

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

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

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 

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

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

PFC (q/q–4)
I (q/q–4)
RT (m/m–12)

Graph 3: Labour

%
9.8

9.4

9.0

8.6

8.2

Growth rate 

3.0 

2.0 

1.0 

0.0 

– 1.0 

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Employment (q/q–1)
Labour cost index  (q/q–1)
Unemployment rate Total (%)

Employment (q/q–4)
Labour cost index  (q/q–4)

Graph 4: Prices

Growth Rate
2.0 

1.0 

0.0 

– 1.0 

– 2.0 

– 3.0 
3 0

– 4.0 

– 5.0 

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

Industrial producer prices (m/m-1)

Industrial producer prices (m/m-12)

HICP (m/m-1)

HICP (m/m-12)

Graph 5: External Transactions

Graph 6: Financial

Mio  EUR

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

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

BOP current account (2)

External trade balance (1)  

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

19

Eurostatistics — 10/2016 edition  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)

2015Q2
0.4

2015Q3
0.4

2015Q4
0.4

2016Q1
0.5

2016Q2
0.3

Q/Q–4 %

2015Q2
2

2015Q3
2

2015Q4
2.3

2016Q1
1.6

2016Q2
2.2

0.4

0.1

0.5

0.5

0.3

1.4

0.6

0.4

0.2

0

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

Q/Q–4 %

1.6

1.9

1.7

2

2

Q/Q–4 %
2016M04

3

4.1
2016M05 2016M06 2016M07 2016M08 2016M09

2.7

2.2

4

External trade balance 
(extra EA19) (2)

BOP Current account  
(extra EU29)

mn euro

20188.1 22012.8 23503.2 20492.4 19887.8 24588.2

25037.3

24083

23807.8 20040.5

:

:

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

2016M04

2016M05 2016M06 2016M07 2016M08 2016M09

mn euro

31397

32667

42223

9463

14376

36771

35943

16387

39063

31469

:

:

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

Inflation (Harmonized Index  
of Consumer Prices – All items) 

Industrial producer prices

M/M–1 %
M/M–12 %
M/M–1 % 
M/M–12 %

0.1
0.1
–0.3
–3.2

–0.1
0.1
–0.2
–3.2

0
0.2
–0.8
–3

–1.4
0.3
–1.1
–3

0.2
–0.2
–0.6
–4.1

1.2
0
0.3
–4.1

Unemployment 
rate 

 total (2)
age <25 year (2)
age >25 year (2)

%
%
%

Labour Cost Index 

Q/Q–1 % (1)

Employment

Industrial production

Production in construction

Retail trade deflated turnover

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 %

General government deficit (–) 
/surplus (+)
General government gross debt

%

%

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

10.6
22.2
9.5
2015Q2
0.5
2015Q2
0.4

10.5
21.9
9.4
2015Q3
0.2
2015Q3
0.3

10.4
21.8
9.4
2015Q4
0.5
2015Q4
0.3

10.4
21.7
9.3
2016Q1
0.4
2016Q1
0.4

10.3
21.6
9.3
2016Q2
0
2016Q2
0.4

10.2
21.2
9.2

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

0.7
2.6
0.5
0.1
–0.1
2.7
2015Q2

–1.5

92.4

–0.3
2.2
1
0.6
0.1
2.3
2015Q3

–1.8

91.7

–0.6
0.5
–0.5
0.8
0.6
2.6
2015Q4

–1.4

90.7

2.6
3.5
2
5
0.3
2.1
2016Q1

–3.1

91.6

–1.3
0.6
–0.6
3.6
0.3
2.8
2016Q2

:

:

–1
–0.2
–1.6
–0.3
–0.5
1.8

Economic sentiment indicator (2) 

index

106

106

106.6

105.1

103.9

103

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

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

%

%

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
–0.23

–0.05

–0.09

–0.13

–0.15

–0.18

1.2

1.17

1.21

1.16

1.05

Average

1.1235

1.0736

1.0877

1.086

1.1093

2016M04
0
–0.2
–0.4
–4.4
2016M04
10.1
21
9.1

Q/Q–4 % (3)

Q/Q–4 %
2016M04
1.2
1.9
0
–1
0.2
1.6

2016M04
104
2016M04
–0.25

0.4
0.4
:
:

0.2
0.1
0.7
–3.1

0.4
–0.1
0.6
–3.8

0.1
0.2
–0.2
–2.1

10.1
20.9
9.1
2015Q3
1.3
2015Q3
1.2

10.1
21
9
2015Q2
1.6
2015Q2
1

2016M05 2016M06 2016M07 2016M08 2016M09
–0.6
0.2
0.3
–2.6
2016M05 2016M06 2016M07 2016M08 2016M09
10.1
20.8
9
2015Q4
1.6
2015Q4
1.3
2016M05 2016M06 2016M07 2016M08 2016M09
–1.1
–0.5
1.8
3.1
0.3
1.8

:
:
:
2016Q2
1
2016Q2
1.4

10.1
20.7
9
2016Q1
1.6
2016Q1
1.4

–1.1
0.4
0.1
–0.5
0.4
1.8

:
:
:
:
–0.1
0.6

0.8
0.7
0.3
0.6
0
1.9

:
:
:
:
:
:

104.4

2016M05 2016M06 2016M07 2016M08 2016M09
104.6
104.9
104.5
2016M05 2016M06 2016M07 2016M08 2016M09
–0.3
–0.29

–0.26

–0.27

103.5

–0.3

0.93

1.11

0.93

0.91

0.82

0.62

0.59

:

1.1339

1.1311

1.1229

1.1069

1.1212

1.1212

(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 — 10/2016 edition 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
Euro area

Graph 1: Output

Growth rate
4.0 

3.0 

2.0 

1.0 

0.0 

– 1.0 

– 2.0 

Index
115.0

110.0

105.0

100.0

95.0

90.0

85.0

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

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 

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Employment (q/q-1)
Labour cost index  (q/q-1)
Unemployment rate Total (%)

Employment (Q/Q–4)
Labour cost index  (Q/Q–4)

Principal European Economic Indicators (PEEIs)

2

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 

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

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

PFC (Q/Q–4)
I (Q/Q–4)
RT (m/m-12)

Graph 4: Prices

Growth Rate
2.0 

1.0 

0.0 

– 1.0 

– 2.0 

– 3.0 
3 0

– 4.0 

– 5.0 

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

Industrial producer prices (m/m-1)

Industrial producer prices (m/m-12)

HICP (m/m-1)

HICP (m/m-12)

Graph 5: External Transactions

Graph 6: Financial

Mio  EUR

50000

40000

30000

20000

10000

0

%

5.0

4.0

3.0

2.0

1.0

0.0

-1.0

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

External trade balance  

BOP current account 

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

€/$

1.60

1.40

1.20

1.00

0.80

0.60

0.40

21

Eurostatistics — 10/2016 edition  2 Principal European Economic Indicators (PEEIs)

Detailed PEEIs analysis for Belgium

Indicators

Unit

Reference Period

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

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

BOP Current account  
(all countries of the world)

Q/Q–1 % (1)

2015Q2
0.5

2015Q3
0.2

2015Q4
0.5

2016Q1
0.2

2016Q2
0.5

Q/Q–4 %

2015Q2
1.5

2015Q3
1.3

2015Q4
1.6

2016Q1
1.4

2016Q2
1.4

Q/Q–1 % (1)

0.6

–0.3

Q/Q–1 % (1)

–10.4

2

0.4

2.7

0

1.3

0.3

2

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

Q/Q–4 %

1.4

1.2

1.5

0.7

0.5

Q/Q–4 %
2016M04

–0.2

8.3
2.7
2016M05 2016M06 2016M07 2016M08 2016M09

–4.6

–4.9

mn euro

–355.9

–175

–205.7

–617.7

–927.9

–313.8

–438.4

–46.9

–201.7 –1148.9

–1950.6 –1863.6 –2060 –2377.2 –2555 –1809.9

–2081.1

–1765.1 –1977.4 –2513.2

:

:

:

:

2015Q2

2015Q3

2015Q4

2016Q1

2016Q2

mn euro

1187

–1046

2538

3175

:

Inflation (Harmonized Index  
of Consumer Prices – All items) 

Industrial producer prices

M/M–1 %
M/M–12 %
M/M–1 % 
M/M–12 %

Unemployment 
rate 

 total (2)
age <25 year (2)
age >25 year (2)

%
%
%

Labour Cost Index 

Q/Q–1 % (1)

Employment

Industrial production

Production in construction

Retail trade deflated turnover

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 %

0
1.5
–2
–3

0.1
1.4
–0.4
–3.7

–1.7
1.8
–2.7
–3.8

0.3
1.2
–0.3
–4.2

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
0.8
1.6
1.4
–6.3
2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
8.1
20.5
7.2

1.7
1.1
–1.1
–6

8.5
24.3
7.1
2015Q2
0
2015Q2
0.3

0.9
1.4
0.9
0.3
0
–0.4
2015Q2

8.7
24.3
7.3
2015Q3
0
2015Q3
0.4

2.3
2.9
–1.9
–7
–0.9
–1.3
2015Q3

8.6
24.3
7.3
2015Q4
0
2015Q4
0.1

–3.9
–0.5
–0.2
–8.3
0.4
–0.1
2015Q4

8.3
20.5
7.2
2016Q1
0
2016Q1
0.2

6
5.2
3.7
4.3
–1.4
–3.9
2016Q1

8.2
20.5
7.2
2016Q2
0
2016Q2
0.2

–1.4
6.4
–1.5
–1.1
0.3
–1.7
2016Q2

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
–0.5
2.6
–1.7
–7.2
–0.7
–2.9

General government deficit (–) 
/surplus (+)
General government gross debt

%

%

1.1

–6.4

3.9

–10.2

109.5

109.1

106.1

109.2

:

:

Economic sentiment indicator (2) 

index

3–month interest rate
Long term government  
bond yields 

%

%

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
101.2
101.7
2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

104.5

103.5

99.6

102

–

–

–

–

–

–

2016M04
0.2
1.5
–0.9
–6.9
2016M04
8.2
21
7.2

Q/Q–4 % (3)

Q/Q–4 %
2016M04
0.3
3.7
1.6
2.6
0.9
–2.9

2016M04
102.4
2016M04
–

1.3
2
–0.4
–1.5

0.4
1.6
2.7
–5.1

0.4
1.8
1.4
–3.4

8.2
21
7.2
2015Q2
0.1
2015Q2
0.8

8.3
21
7.2
2015Q3
0.1
2015Q3
1.1

2016M05 2016M06 2016M07 2016M08 2016M09
:
–1.1
:
2
:
0.3
:
–2.2
2016M05 2016M06 2016M07 2016M08 2016M09
:
8.3
:
:
:
7.2
2016Q2
2015Q4
0.1
0.1
2016Q2
2015Q4
1
1
2016M05 2016M06 2016M07 2016M08 2016M09
:
1.6
:
5.5
:
2
:
10.6
:
0.3
:
–3.5

8.2
:
7.1
2016Q1
0.2
2016Q1
1

–1.6
1.5
–0.5
–1.9
0.7
–1.9

1.5
5.4
0.4
–0.9
–0.2
–3.8

:
:
:
:
:
:

108.6

2016M05 2016M06 2016M07 2016M08 2016M09
102.3
107.3
103.8
2016M05 2016M06 2016M07 2016M08 2016M09
–

103.7

–

–

–

–

0.85

0.84

0.89

0.86

0.72

0.62

0.55

0.55

0.43

0.2

0.15

:

(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)

22

  Eurostatistics — 10/2016 edition 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
Belgium

Graph 1: Output

Growth rate
9.0 

6.0 

3.0 

0.0 

– 3.0 

– 6.0 

Principal European Economic Indicators (PEEIs)

2

Graph 2: Demand

Growth rate
(PFC,I)

8.0 

6.0 

4.0 

2.0 

0.0 

– 2.0 

Index

115.0

110.0

105.0

100.0

95.0

90.0

Growth rate
(RT)

3 

2 

1 

0 

– 1

– 2

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

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 

Growth Rate
1.5

1.0

0.5

0.0

-0.5

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Employment (q/q-1)

Labour cost index  (q/q-1)

Graph 4: Prices

Growth Rate

3.0 

2.0 

1.0 

0.0 

1.0 
– 1 0

– 2.0 

– 3.0 

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Unemployment rate Total (%)

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

Mio  EUR

4000

3000

2000

1000

0

-1000

-2000

-3000

%
6.0

5.0

4.0

3.0

2.0

1.0

0.0

€/$

1.600

1.400

1.200

1.000

0.800

0.600

0.400

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

External trade balance  

BOP current account 

Long-term government bond yields - rates

Euro-dollar exchange rate

23

Eurostatistics — 10/2016 edition  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)

2015Q2
0.7

2015Q3
0.7

2015Q4
0.7

2016Q1
0.7

2016Q2
0.7

Q/Q–4 %

2015Q2
2.8

2015Q3
3

2015Q4
2.9

2016Q1
3

2016Q2
2.9

0.6

1.1

1.4

–0.3

0.9

–1.1

1.2

–3.5

0.3

0.5

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

Q/Q–4 %

–0.7

2

2.4

2.9

1.9

Q/Q–4 %
2016M04

0.6

–0.3
7.2
2016M05 2016M06 2016M07 2016M08 2016M09

1.4

3.2

External trade balance 
(extra EU28) (2)

BOP Current account  
(all countries of the world)

–123.4

–100.2

–52.6

26.3

–42.5

–52.7

–89.4

–126.4

–89.8

–64.4

:

:

2015Q2

2015Q3

2015Q4

2016Q1

2016Q2

mn euro

–205.6

1162.8

–461.9

312.1

:

Inflation (Harmonized Index  
of Consumer Prices – All items) 

Industrial producer prices

M/M–1 %
M/M–12 %
M/M–1 % 
M/M–12 %

Unemployment 
rate 

 total (2)
age <25 year (2)
age >25 year (2)

%
%
%

Labour Cost Index 

Q/Q–1 % (1)

Employment

Industrial production

Production in construction

Retail trade deflated turnover

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 %

–0.3
–0.9
–0.6
–3.8

–0.2
–0.4
–0.7
–2.9

–0.2
–1.2
–0.6
–3.9

0.4
–0.9
–0.5
–3.2

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
–0.6
–1.9
0.5
–4.1
2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
8.1
16
7.6

–0.5
–1
–0.4
–4

8.1
20.6
7.4
2015Q2
2.5
2015Q2
–0.1

1.1
1.2
0.8
2.7
0.2
–0.5
2015Q2

7.9
20.2
7.2
2015Q3
0.7
2015Q3
0.1

0.5
2.2
–1.6
–0.5
0.2
0.9
2015Q3

7.9
19.4
7.3
2015Q4
1.5
2015Q4
0.1

1.5
3.5
–0.7
–2.1
0.2
1.7
2015Q4

8
18.6
7.4
2016Q1
2.5
2016Q1
0.3

0.4
2.2
–2
–10.4
0.6
1.3
2016Q1

8
17.6
7.5
2016Q2
2.1
2016Q2
0.5

0.2
2.7
–0.7
–5.1
1.8
3.3
2016Q2

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
–0.7
2.6
–0.5
–8.7
0.8
6.3

General government deficit (–) 
/surplus (+)
General government gross debt

%

%

2.2

28.2

–1.8

27

–8.7

26.7

5.9

30.3

:

:

105.2

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
105.1
104.2
2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
0.15

105.8

104.8

0.47

0.28

0.19

0.51

0.49

105

2016M04
–0.2
–2.5
–0.4
–4.1
2016M04
8
15.5
7.6

Q/Q–4 % (3)

Q/Q–4 %
2016M04
–0.4
2.6
–2.2
–10.5
–0.7
5.4

2016M04
104.3
2016M04
0.13

0
–1.1
–0.2
–2.7

0.1
–1.9
0.4
–4.2

0
–2.5
–0.1
–4.5

8
15.4
7.6
2015Q3
7.2
2015Q3
0.2

7.9
15.2
7.6
2015Q2
8.1
2015Q2
0.2

2016M05 2016M06 2016M07 2016M08 2016M09
:
1
:
–1.1
:
–0.1
:
–3.8
2016M05 2016M06 2016M07 2016M08 2016M09
:
7.9
:
14.7
:
7.5
2016Q2
2015Q4
7.3
5.6
2016Q2
2015Q4
1.5
0.3
2016M05 2016M06 2016M07 2016M08 2016M09
:
–1.5
:
2.3
:
–0.9
:
–11.7
:
1.3
:
2.3

7.7
14.8
7.4
2016Q1
7.7
2016Q1
0.9

0.7
2.7
0.4
–10.2
0.9
5.4

–1.7
–3.4
–0.8
–8.2
1.2
4

3.9
4
–2.3
–13
–1
5.4

105.7

2016M05 2016M06 2016M07 2016M08 2016M09
103.2
105.9
2016M05 2016M06 2016M07 2016M08 2016M09
:
0.13

105.3

0.15

0.14

0.13

107

2.36

2.99

2.43

2.44

2.67

2.66

2.44

2.37

2.4

2.39

2.28

:

Average

1.96

1.96

1.96

1.96

1.96

1.96

1.96

1.96

1.96

1.96

1.96

1.96

Economic sentiment indicator (2) 

index

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

%

%

(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)

24

  Eurostatistics — 10/2016 edition 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
Bulgaria

Graph 1: Output

Growth rate
4.0 

2.0 

0.0 

– 2.0 

– 4.0 

Principal European Economic Indicators (PEEIs)

2

Graph 2: Demand

Index

115.0

Growth rate
(PFC,I)

4.0 

110.0

105.0

100.0

2.0 

0.0 

– 2.0 

– 4.0 

95.0

– 6.0 

Growth rate
(RT)

3 

2 

1 

0 

– 1

– 2

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

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

%
9.5 

9.0 

8.5 

8.0 

7.5 

7.0 

Growth Rate
3.0

2.0

1.0

0.0

-1.0

-2.0

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Employment (q/q-1)

Labour cost index  (q/q-1)

Graph 4: Prices

Growth Rate

3.0 

2.0 

1.0 

0.0 

1.0 
– 1 0

– 2.0 

– 3.0 

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Unemployment rate Total (%)

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

Mio  EUR

1500

1200

900

600

300

0

-300

-600

%
5.0

4.0

3.0

2.0

1.0

0.0

-1.0

Bulgarian Lev/$

1.970

1.960

1.950

1.940

1.930

1.920

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

External trade balance  

BOP current account 

3-month interest rates
Long-term government bond yields - rates
Bulgarian Lev exchange rates against the euro 

25

Eurostatistics — 10/2016 edition  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)

2015Q2
1.3

2015Q3
1

2015Q4
0.3

2016Q1
0.4

2016Q2
0.9

Q/Q–4 %

2015Q2
5

2015Q3
4.2

2015Q4
4.3

2016Q1
2.7

2016Q2
3.6

0.7

2.9

0.5

1.3

0.9

0.5

0.6

–2.1

0.1

–4.1

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

Q/Q–4 %

3.3

2.4

2.9

2.4

2.6

Q/Q–4 %
2016M04

10.5

–4.1
9.5
2016M05 2016M06 2016M07 2016M08 2016M09

–0.5

10.1

External trade balance 
(extra EU28) (2)

BOP Current account  
(all countries of the world)

–439.1

–474.7

–464.5

–270.3

–246.5

–300.4

–266.8

–200.1

–264.7

–218.2

:

:

2015Q2

2015Q3

2015Q4

2016Q1

2016Q2

mn euro

–1079.7 –1312.9

539.7

4208.8

:

Inflation (Harmonized Index  
of Consumer Prices – All items) 

Industrial producer prices

M/M–1 %
M/M–12 %
M/M–1 % 
M/M–12 %

Unemployment 
rate 

 total (2)
age <25 year (2)
age >25 year (2)

%
%
%

Labour Cost Index 

Q/Q–1 % (1)

Employment

Industrial production

Production in construction

Retail trade deflated turnover

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 %

0.6
0.5
–1.6
–3.4

–0.1
0.1
–0.2
–3.9

–0.2
–0.1
–0.5
–2.9

–0.4
0
–0.4
–3.7

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
0
0.3
0
–4.5
2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
4
9.9
3.7

0.1
0.5
–0.7
–4

4.6
11.5
4.1
2015Q2
–0.8
2015Q2
0.5

1.4
6.2
–3.1
0.4
1.1
7.4
2015Q2

4.5
11
4
2015Q3
0
2015Q3
–0.1

–1.3
2.9
0
1.1
–0.4
6.3
2015Q3

4.5
10.8
4
2015Q4
5.8
2015Q4
0.3

–1.6
–0.7
–2.2
1.8
0.8
6.6
2015Q4

4.3
10.4
3.9
2016Q1
–3.8
2016Q1
1.2

3.6
4.1
0.3
–7.8
1.3
6.2
2016Q1

4.2
9.9
3.8
2016Q2
1.4
2016Q2
0.3

–0.8
1.8
1
–3.3
–0.2
5.2
2016Q2

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
1.5
4.1
–3
–11.1
–0.3
5.1

General government deficit (–) 
/surplus (+)
General government gross debt

%

%

0.9

41.2

0.7

40.7

–1.5

40.3

–0.7

40.4

:

:

104.9

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
103.4
104.8
2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
0.29

107.3

105.9

105.3

0.29

0.29

0.28

0.29

0.29

2016M04
0.6
0.5
0.1
–4.7
2016M04
4
10.2
3.6

Q/Q–4 % (3)

Q/Q–4 %
2016M04
–1.2
1.4
–3.2
–15
1.1
6.3

2016M04
104.2
2016M04
0.29

–0.2
0.6
–0.2
–3.4

0.1
–0.1
0.3
–4.4

–0.2
0
0.4
–4.8

4.1
11.5
3.6
2015Q3
0.9
2015Q3
1.3

4
10.8
3.6
2015Q2
2.1
2015Q2
1.6

2016M05 2016M06 2016M07 2016M08 2016M09
:
0.4
:
0.5
:
0
:
–3.9
2016M05 2016M06 2016M07 2016M08 2016M09
:
4.1
:
11.5
:
3.6
2016Q2
2015Q4
3.2
8.9
2016Q2
2015Q4
1.6
1.3
2016M05 2016M06 2016M07 2016M08 2016M09
:
–9.7
:
–7.6
:
–0.1
:
–12.6
:
–0.2
:
5

3.9
11.6
3.4
2016Q1
0.3
2016Q1
1.9

2.3
4
–3.3
–12.5
1.3
6.3

–0.1
1.4
2.1
–9.4
–0.4
4.3

:
:
:
:
0
5.6

104.5

2016M05 2016M06 2016M07 2016M08 2016M09
104.8
106.1
104.8
2016M05 2016M06 2016M07 2016M08 2016M09
:
0.29

105.6

0.29

0.29

0.29

0.56

0.49

0.49

0.62

0.46

0.35

0.43

0.46

0.45

0.37

0.29

:

Average

27.11

27.04

27.03

27.03

27.04

27.05

27.03

27.07

27.06

27.04

27.03

27.02

Economic sentiment indicator (2) 

index

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

%

%

(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)

26

  Eurostatistics — 10/2016 edition 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
Czech Republic

Graph 1: Output

Growth rate
10.0 

5.0 

0.0 

– 5.0 

– 10.0 

– 15.0 

Principal European Economic Indicators (PEEIs)

2

Graph 2: Demand

Growth rate
(PFC,I)

10.0 

5.0 

0.0 

– 5.0 

– 10.0 

– 15.0 

Index

115.0

110.0

105.0

100.0

95.0

90.0

Growth rate
(RT)

3 

2 

1 

0 

– 1

– 2

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

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

%
5.3 

5.0 

4.7 

4.4 

4.1 

3.8 

Growth Rate
6.0

4.0

2.0

0.0

-2.0

-4.0

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Employment (q/q-1)

Labour cost index  (q/q-1)

Graph 4: Prices

Growth Rate

3.0 

2.0 

1.0 

0.0 

1.0 
– 1 0

– 2.0 

– 3.0 

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Unemployment rate Total (%)

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

Mio  EUR

5000

4000

3000

2000

1000

0

-1000

%
5.0

4.0

3.0

2.0

1.0

0.0

-1.0

Czech Koruna/€

29.0

28.0

27.0

26.0

25.0

24.0

23.0

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

External trade balance  

BOP current account 

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

27

Eurostatistics — 10/2016 edition  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)

2015Q2
0.3

2015Q3
–0.6

2015Q4
–0.2

2016Q1
0.7

2016Q2
0.4

0.1

1

0.9

–0.4

0.5

1.2

0.6

0.4

0.5

–1.2

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

Q/Q–4 %

Q/Q–4 %

Q/Q–4 %
2016M04

2015Q2
2.2

2015Q3
0.6

2015Q4
0

2016Q1
–0.3

2016Q2
0.8

2

2.4

2.2

1.6

2.9

3.1

1.2
–0.7
2016M05 2016M06 2016M07 2016M08 2016M09

–0.1

1.5

External trade balance 
(extra EU28) (2)

BOP Current account  
(all countries of the world)

667.3

997.9

935.3

1058.8

846.2

1027.2

1125.4

783.8

925.6

1078.1

:

:

2015Q2

2015Q3

2015Q4

2016Q1

2016Q2

mn euro

4368.5

6015.9

4586.8

1245.6

:

Inflation (Harmonized Index  
of Consumer Prices – All items) 

Industrial producer prices

M/M–1 %
M/M–12 %
M/M–1 % 
M/M–12 %

Unemployment 
rate 

 total (2)
age <25 year (2)
age >25 year (2)

%
%
%

Labour Cost Index 

Q/Q–1 % (1)

Employment

Industrial production

Production in construction

Retail trade deflated turnover

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 %

–0.1
0.1
0.5
–4.9

–0.2
0.1
–0.9
–4.9

–0.1
0.3
–2.4
–5.8

–0.5
0.4
1.7
–2.3

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
0.1
–0.3
0.8
–5
2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
6
11.2
5

0.5
0.1
–2.6
–6.4

6.1
10.6
5.2
2015Q2
0.6
2015Q2
0.3

–3.4
–1.7
1.1
5.2
0.8
2.3
2015Q2

6.1
10.8
5.2
2015Q3
0.4
2015Q3
0.3

–1
–3.1
–0.4
3.2
0.3
1.7
2015Q3

6
11.1
5.1
2015Q4
0.3
2015Q4
0.5

3.6
–1
0.8
7.1
–1.7
–0.5
2015Q4

5.9
11.1
5
2016Q1
0.6
2016Q1
0.5

2.9
4.8
0.9
5.6
1.1
1.4
2016Q1

5.9
11.4
4.9
2016Q2
0.1
2016Q2
0.5

–1
3
0.8
5.8
–0.4
0.4
2016Q2

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
–0.1
–0.9
4.8
10.1
–1.5
–3.4

General government deficit (–) 
/surplus (+)
General government gross debt

%

%

–1

42.5

–1.3

41.7

–0.6

40.4

–3.6

39.9

:

:

101.8

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
104.1
2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
–0.08

–0.07

–0.14

–0.13

–0.06

–0.08

102.3

100.5

99.9

103

2016M04
0.2
–0.3
0.5
–4.9
2016M04
6.1
11.9
5

Q/Q–4 % (3)

Q/Q–4 %
2016M04
1.1
1.6
–7.3
–1.2
2.2
1.7

2016M04
98.8
2016M04
–0.09

0.1
0.1
2.5
–1

0.2
–0.1
0.3
–4.2

–0.4
0
–0.1
–1.4

6.1
11.8
5
2015Q3
1.7
2015Q3
1.1

6.1
11.3
5.1
2015Q2
1.7
2015Q2
1

2016M05 2016M06 2016M07 2016M08 2016M09
:
–0.1
:
0.1
:
–1.3
:
0.4
2016M05 2016M06 2016M07 2016M08 2016M09
:
6.3
:
12.6
:
5.1
2016Q2
2015Q4
1.4
1.5
2016Q2
2015Q4
1.9
1.3
2016M05 2016M06 2016M07 2016M08 2016M09
:
2.3
:
7.4
:
–1.5
:
8
:
–0.6
:
–0.7

6.2
12.6
5
2016Q1
1.9
2016Q1
1.5

–0.1
–1.2
1.1
7.7
0.8
1.2

:
:
:
:
0
–0.8

0.2
3.9
4.5
7.5
–1
3.5

98.9

102.4

2016M05 2016M06 2016M07 2016M08 2016M09
100
2016M05 2016M06 2016M07 2016M08 2016M09
–0.19
–0.19

–0.09

–0.17

–0.21

97.9

97.6

0.83

0.81

0.83

0.79

0.55

0.51

0.4

0.41

0.23

0.07

0.04

:

Average

7.46

7.46

7.46

7.46

7.46

7.46

7.44

7.43

7.44

7.44

7.44

7.45

Economic sentiment indicator (2) 

index

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

%

%

(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)

28

  Eurostatistics — 10/2016 edition 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
Denmark

Graph 1: Output

Growth rate
9.0 

6.0 

3.0 

0.0 

– 3.0 

– 6.0 

Principal European Economic Indicators (PEEIs)

2

Graph 2: Demand

Index

105.0

Growth rate
(PFC,I)

10.0 

100.0

95.0

90.0

5.0 

0.0 

– 5.0 

– 10.0 

85.0

– 15.0 

Growth rate
(RT)

3 

2 

1 

0 

– 1

– 2

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

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

%
8.0 

7.5 

7.0 

6.5 

6.0 

5.5 

Growth Rate
1.5

1.0

0.5

0.0

-0.5

-1.0

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Employment (q/q-1)

Labour cost index  (q/q-1)

Graph 4: Prices

Growth Rate

3.0 

2.0 

1.0 

0.0 

1.0 
– 1 0

– 2.0 

– 3.0 

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Unemployment rate Total (%)

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

Mio  EUR

5000
4500
4000
3500
3000
2500
2000
1500
1000
500
0

%
5.0

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

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

External trade balance  

BOP current account 

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

29

Eurostatistics — 10/2016 edition  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)

2015Q2
0.5

2015Q3
0.2

2015Q4
0.4

2016Q1
0.7

2016Q2
0.4

Q/Q–4 %

2015Q2
1.8

2015Q3
1.8

2015Q4
2.1

2016Q1
1.5

2016Q2
3.1

0.4

0.1

0.6

0.1

0.4

1.7

0.3

1.7

0.2

–1.5

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

Q/Q–4 %

1.7

2.2

2.1

1.7

2.4

Q/Q–4 %
2016M04

0.8

4.4
4.1
2016M05 2016M06 2016M07 2016M08 2016M09

2.9

1.7

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

BOP Current account  
(all countries of the world)

mn euro

19527.3 19943.2 20878.3 18093.1 19760.3 21458.5

20900.9

19722.3 20831.7

18628

14040.5 14336.8 15473.1 12912.8 14732.6

15536

15519.5

14519.5 15354.8 13749.4

:

:

:

:

2015Q2

2015Q3

2015Q4

2016Q1

2016Q2

mn euro

58483

66065

74434

65167

:

Inflation (Harmonized Index  
of Consumer Prices – All items) 

Industrial producer prices

M/M–1 %
M/M–12 %
M/M–1 % 
M/M–12 %

Unemployment 
rate 

 total (2)
age <25 year (2)
age >25 year (2)

%
%
%

Labour Cost Index 

Q/Q–1 % (1)

Employment

Industrial production

Production in construction

Retail trade deflated turnover

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 %

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
0.8
0.1
0.1
–3
2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

–1
0.4
–0.8
–2.3

0
0.2
–0.4
–2.2

0
0.2
–0.4
–2.2

0.4
–0.2
–0.5
–3

0
0.2
–0.2
–2.4

4.5
7.1
4.2
2015Q2
0.9
2015Q2
0.3

4.5
7.2
4.2
2015Q3
0.3
2015Q3
0.3

4.4
7.2
4.1
2015Q4
0.8
2015Q4
0.3

4.4
7.2
4.1
2016Q1
0.6
2016Q1
0.3

4.3
7.2
4
2016Q2
0.2
2016Q2
0.3

4.3
7.2
4

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
–0.8
0.3
–3.5
0.1
–1
0.7

2.8
2.7
2.4
1
0.1
2.2
2016Q1

–1.1
1.2
2.3
7.9
0.1
2.1
2016Q2

0.2
0.4
1.4
–0.8
–0.2
1.9
2015Q2

–0.4
0
1.4
0.1
0.5
2
2015Q3

0
–1.1
–0.5
–1.5
0.9
3.1
2015Q4

General government deficit (–) 
/surplus (+)
General government gross debt

%

%

1.9

72.6

0.4

72

0.4

71.2

0.3

71.1

:

:

Economic sentiment indicator (2) 

index

3–month interest rate
Long term government  
bond yields 

%

%

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
106.9
2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

104.7

104.1

106.8

106.8

104

–

–

–

–

–

–

2016M04
–0.5
–0.3
0
–3
2016M04
4.3
7.1
3.9

Q/Q–4 % (3)

Q/Q–4 %
2016M04
0.7
0.9
–2.4
–1.3
–0.1
0.7

2016M04
104.4
2016M04
–

0.4
0
0.3
–2.7

0.1
0.2
0.5
–2.1

–0.1
0.3
–0.1
–1.6

4.3
7
3.9
2015Q3
2.5
2015Q3
1

4.3
7.1
3.9
2015Q2
2.9
2015Q2
0.8

2016M05 2016M06 2016M07 2016M08 2016M09
:
0.4
:
0.4
:
0.2
:
–1.9
2016M05 2016M06 2016M07 2016M08 2016M09
4.2
7
4
2015Q4
2.9
2015Q4
1.2
2016M05 2016M06 2016M07 2016M08 2016M09
:
–1.9
:
–1.6
:
1.8
:
2.3
:
0.5
:
1.5

:
:
:
2016Q2
1.8
2016Q2
1.2

4.2
6.9
3.9
2016Q1
2.8
2016Q1
1.3

–1.1
–0.3
0
–1.2
0.8
1.3

:
:
:
:
–0.4
0.9

1.3
1
0.2
0.5
0
1.6

106.4

2016M05 2016M06 2016M07 2016M08 2016M09
107.1
106.6
104.8
2016M05 2016M06 2016M07 2016M08 2016M09
–

105.5

–

–

–

–

0.52

0.52

0.55

0.43

0.17

0.17

0.13

0.13

–0.02

–0.15

–0.13

:

(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)

30

  Eurostatistics — 10/2016 edition 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
Germany

Graph 1: Output

Growth rate
6.0 

3.0 

0.0 

– 3.0 

– 6.0 

Principal European Economic Indicators (PEEIs)

2

Graph 2: Demand

Index

115.0

Growth rate
(PFC,I)

3.0 

110.0

105.0

100.0

2.0 

1.0 

0.0 

– 1.0 

95.0

– 2.0 

Growth rate
(RT)

3 

2 

1 

0 

– 1

– 2

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

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

%
6.0 

5.5 

5.0 

4.5 

4.0 

3.5 

Growth Rate
2.0

1.5

1.0

0.5

0.0

-0.5

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Employment (q/q-1)

Labour cost index  (q/q-1)

Graph 4: Prices

Growth Rate

3.0 

2.0 

1.0 

0.0 

– 1.0 

– 2.0 

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Unemployment rate Total (%)

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

Mio  EUR

80000

60000

40000

20000

0

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

%
5.0

4.0

3.0

2.0

1.0

0.0

-1.0

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

€/$

1.600

1.400

1.200

1.000

0.800

0.600

0.400

External trade balance  

BOP current account 

Long-term government bond yields - rates

Euro-dollar exchange rate

31

Eurostatistics — 10/2016 edition  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)

2015Q2
1.4

2015Q3
–0.5

2015Q4
1.1

2016Q1
–0.5

2016Q2
0.5

1.4

–4.6

0.8

–1.7

0.4

5.8

1.2

–0.5

0.6

1.8

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

BOP Current account  
(all countries of the world)

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

mn euro

48.5

62.6

84.2

34.2

16.9

92.3

32

58.9

49.7

33.3

46.3

89.2

2015Q2

2015Q3

2015Q4

2016Q1

2016Q2

mn euro

239

166.8

83.9

–111.5

:

Inflation (Harmonized Index  
of Consumer Prices – All items) 

Industrial producer prices

M/M–1 %
M/M–12 %
M/M–1 % 
M/M–12 %

Unemployment 
rate 

 total (2)
age <25 year (2)
age >25 year (2)

%
%
%

Labour Cost Index 

Q/Q–1 % (1)

Employment

Industrial production

Production in construction

Retail trade deflated turnover

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 %

–0.3
0.5
–1.1
–3.2

–0.2
0.1
4.5
0

0.2
0
0.4
–3.4

–0.7
–0.2
–2
–5.5

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
0.8
0.5
1.6
–3.9
2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
6.8
12.3
6.3

0.8
0.4
–5.2
–5.1

6.4
15.8
5.6
2015Q3
1.2
2015Q3
2

–2.7
–6.3
–
–
–1
1.7
2015Q3

6.4
18.2
5.4
2015Q4
0.9
2015Q4
–2.1

–1.5
–8.3
–
–
2.5
6.5
2015Q4

6.5
17.6
5.6
2016Q1
2
2016Q1
0.5

4.5
–0.3
–
–
1.8
8.9
2016Q1

6.4
14.1
5.7
2016Q2
0.7
2016Q2
1.7

–0.2
–1.8
–
–
–2.2
5.8
2016Q2

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
–3.2
–4.7
–
–
–1.7
2.5

6
13.8
5.4
2015Q2
2.5
2015Q2
0.6

0.4
–2.3
–
–
1.3
5.7
2015Q2

General government deficit (–) 
/surplus (+)
General government gross debt

%

%

1.6

9.9

2.1

9.8

1.4

9.7

–1.1

9.6

:

:

Economic sentiment indicator (2) 

index

99.7

99.7

100.2

101.3

99

99.2

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

3–month interest rate
Long term government  
bond yields 

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

%

%

–

:

–

:

–

:

–

:

–

:

–

:

Q/Q–4 %

Q/Q–4 %

Q/Q–4 %
2016M04

78.6

68.5

2016M04
0.1
0
–0.9
–4.9
2016M04
6.5
12.2
6

Q/Q–4 % (3)

Q/Q–4 %
2016M04
5.1
0.5
–
–
1.9
5

2016M04
99.5
2016M04
–

2015Q2
1.9

2015Q3
1.9

2015Q4
0.8

2016Q1
1.5

2016Q2
0.8

6

5.3

2.3

3.9

3.1

–4.8

5.4
0.1
2016M05 2016M06 2016M07 2016M08 2016M09

–1.2

–2.7

62.1

66.9

54.7

37.1

81.7

52.5

:

:

:

:

0.5
0.4
1.6
–2.5

0.4
0
0.6
–3.5

0.1
1.1
0
–3.9

6.5
13.7
5.9
2015Q2
5.6
2015Q2
2.1

6.9
15.5
6.1
2015Q3
6.2
2015Q3
4.4

2016M05 2016M06 2016M07 2016M08 2016M09
:
0
:
0.8
:
–2.3
:
–3.3
2016M05 2016M06 2016M07 2016M08 2016M09
:
6.8
:
15.1
:
6
2016Q2
2015Q4
4.8
4.9
2016Q2
2015Q4
2
1.2
2016M05 2016M06 2016M07 2016M08 2016M09
:
4.5
:
2.2
–
–
–
–
:
1.2
:
2.9

:
:
:
2016Q1
7
2016Q1
0.9

–1.9
–3.6
–
–
–1
3.1

–0.5
1
–
–
–0.6
3

–3.2
–2.1
–
–
0.9
5.4

99.7

100.3

2016M05 2016M06 2016M07 2016M08 2016M09
102.9
102.1
2016M05 2016M06 2016M07 2016M08 2016M09
–

101.3

–

–

–

–

:

:

:

:

:

:

(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)

32

  Eurostatistics — 10/2016 edition 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
Estonia

Graph 1: Output

Growth rate
9.0 

6.0 

3.0 

0.0 

– 3.0 

– 6.0 

Principal European Economic Indicators (PEEIs)

2

Graph 2: Demand

Index

105.0

Growth rate
(PFC,I)

4.0 

100.0

95.0

90.0

2.0 

0.0 

– 2.0 

– 4.0 

85.0

– 6.0 

Growth rate
(RT)

6 

4 

2 

0 

– 2

– 4

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

GDP (q/q-1)

Industrial Production (m/m-1)

Economic Sentiment Indicator

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

Graph 3: Labour

%
7.1 

6.7 

6.3 

5.9 

5.5 

Growth Rate
4.0

2.0

0.0

-2.0

-4.0

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Employment (q/q-1)

Labour cost index  (q/q-1) Unemployment rate Total (%)

Graph 4: Prices

Growth Rate

6.0 

4.0 

2.0 

0.0 

2.0 
– 2.0

– 4.0 

– 6.0 

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

Mio  EUR

150

100

50

0

-50

-100

-150

%
1.4

1.3

1.2

1.1

1.0

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

External trade balance  

BOP current account 

Euro-dollar exchange rate

33

Eurostatistics — 10/2016 edition  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)

2015Q2
0.4

2015Q3
2.4

2015Q4
3.4

2016Q1
–2.1

2016Q2
0.6

Q/Q–4 %

2015Q2
24.3

2015Q3
24.4

2015Q4
28.4

2016Q1
3.9

2016Q2
4.1

0.8

14

1.1

3.4

0.9

0.7

–2.7

–14.4

–0.5

38.9

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

Q/Q–4 %

4.5

5.5

4.8

5.1

1.8

Q/Q–4 %
2016M04

46.3

21.2
26.5
2016M05 2016M06 2016M07 2016M08 2016M09

–3.7

36.6

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

BOP Current account  
(all countries of the world)

mn euro

2767.9

2138.3

2449.7

2432.3

2209.3

2593.3

2769.3

2205.3

2841.4

2620.3

3158.7

2524.2

2872.6

2786.4

2581.5

2885.5

3111

2480.2

3286.9

2919.7

:

:

:

:

2015Q2

2015Q3

2015Q4

2016Q1

2016Q2

mn euro

7547

6924

7167

8955

:

Inflation (Harmonized Index  
of Consumer Prices – All items) 

Industrial producer prices

M/M–1 %
M/M–12 %
M/M–1 % 
M/M–12 %

Unemployment 
rate 

 total (2)
age <25 year (2)
age >25 year (2)

%
%
%

Labour Cost Index 

Q/Q–1 % (1)

Employment

Industrial production

Production in construction

Retail trade deflated turnover

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 %

General government deficit (–) 
/surplus (+)
General government gross debt

%

%

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
0.3
–0.6
–0.1
–5.8
2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

–0.3
–0.1
–1.1
–6.2

–0.1
0.2
–0.3
–3.8

–0.9
0
–1.4
–2.7

0.4
–0.2
–1.4
–3.2

–0.3
–0.1
0.2
–4.8

9.2
20.8
8.1
2015Q2
0.4
2015Q2
–

9.1
20.5
8
2015Q3
0
2015Q3
–

9
19.5
8
2015Q4
–0.5
2015Q4
–

8.5
17.9
7.7
2016Q1
1.3
2016Q1
–

8.4
17.2
7.5
2016Q2
–0.6
2016Q2
–

8.3
16.9
7.4

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
–16.2
–19.4
–
–
–0.2
6

–16.6
–9.3
–
–
0.6
6.9
2016Q2

0.6
45.8
–
–
–1.8
5.4
2015Q4

18
35.9
–
–
0.8
6.3
2016Q1

1.4
33.9
–
–
–1.1
4.9
2015Q2

–1.8
31.5
–
–
4
9.4
2015Q3

0.2

91.1

–1.4

85.9

–2.2

78.7

–2.3

80.4

:

:

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

Economic sentiment indicator (2) 

index

–

–

–

–

–

–

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

–

–

–

–

3–month interest rate
Long term government  
bond yields 

%

%

–

1.14

–

1.1

2016M04
0.3
–0.2
1.3
–4.6
2016M04
8.3
17.1
7.4

Q/Q–4 % (3)

Q/Q–4 %
2016M04
21.5
0.8
–
–
0.4
3.1

2016M04
–
2016M04
–

–0.2
–0.4
–1.1
–4.1

0.7
0.1
1.1
–2.8

0.5
–0.2
0.6
–3.6

8.4
17.9
7.4
2015Q3
1.8
2015Q3
2.9

8.3
17.3
7.4
2015Q2
1
2015Q2
2.8

2016M05 2016M06 2016M07 2016M08 2016M09
:
–0.3
:
0.1
:
0.1
:
–4
2016M05 2016M06 2016M07 2016M08 2016M09
8.3
17.6
7.3
2015Q4
–0.4
2015Q4
2.3
2016M05 2016M06 2016M07 2016M08 2016M09
:
7.9
:
5.1
–
–
–
–
:
–0.4
:
3.1

7.9
15.9
7.1
2016Q2
0.2
2016Q2
2.9

8.2
17
7.3
2016Q1
1.4
2016Q1
2.4

–13.4
–8.5
–
–
1.5
4.7

–7.9
–0.7
–
–
1.3
6.5

7.4
1.7
–
–
–1.3
4.4

–

2016M05 2016M06 2016M07 2016M08 2016M09
–
2016M05 2016M06 2016M07 2016M08 2016M09
–

–

–

–

–

–

–

–

1.11

1.05

0.99

0.85

0.86

0.84

0.76

0.47

0.4

:

(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)

34

  Eurostatistics — 10/2016 edition 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2

Graph 2: Demand

Growth rate
(PFC,I)

5.0 

0.0 

– 5.0 

– 10.0 

– 15.0 

– 20.0 

Growth rate
(RT)

6 

4 

2 

0 

– 2

Ireland

Graph 1: Output

Growth rate
30.0 

20.0 

10.0 

0.0 

– 10.0 

– 20.0 

Mio  EUR

10000
9000
8000
7000
6000
5000
4000
3000
2000
1000
0

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

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

%
9.5 

9.0 

8.5 

8.0 

7.5 

7.0 

Growth Rate
1.5

1.0

0.5

0.0

-0.5

-1.0

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Labour cost index  (q/q-1)

Unemployment rate Total (%)

Graph 4: Prices

Growth Rate

3.0 

2.0 

1.0 

0.0 

1.0 
– 1.0

– 2.0 

– 3.0 

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

%
6.0

5.0

4.0

3.0

2.0

1.0

0.0

€/$

1.600

1.400

1.200

1.000

0.800

0.600

0.400

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

External trade balance  

BOP current account 

Long-term government bond yields - rates

Euro-dollar exchange rate

35

Eurostatistics — 10/2016 edition  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)

2015Q2
0.1

2015Q3
–1.1

2015Q4
0.2

2016Q1
–0.2

2016Q2
0.2

Q/Q–4 %

2015Q2
1.3

2015Q3
–1.7

2015Q4
–0.7

2016Q1
–0.9

2016Q2
–0.4

0.5

–8

–1.1

–5.4

–0.1

19.9

–0.3

–6.6

–0.2

1

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

Q/Q–4 %

2.5

–1.4

–1.2

–1.7

–0.6

Q/Q–4 %
2016M04

–1.5

–13.6

6.4
4.9
2016M05 2016M06 2016M07 2016M08 2016M09

–1.5

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

BOP Current account  
(all countries of the world)

mn euro

–1282.5

–779.9

–889.6

–722.9

–958

–585.1

–1261.3

–797.3

–769.5

–881.5

–1163.9

–643.3

–772.9

–635.7

–832.6

–479.7

–1127.8

–653

–630.9

–745.4

:

:

:

:

2015Q2

2015Q3

2015Q4

2016Q1

2016Q2

mn euro

–669

5559

–1773

–2275

:

Inflation (Harmonized Index  
of Consumer Prices – All items) 

Industrial producer prices

M/M–1 %
M/M–12 %
M/M–1 % 
M/M–12 %

Unemployment 
rate 

 total (1)
age <25 year (2)
age >25 year (2)

%
%
%

Labour Cost Index 

Q/Q–1 % (1)

Employment

Industrial production

Production in construction

Retail trade deflated turnover

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 %

General government deficit (–) 
/surplus (+)
General government gross debt

%

%

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
1.1
–0.7
1.8
–9
2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

–1.7
–0.1
–2.9
–6.3

0
0.1
–0.5
–9.9

–0.7
–0.1
0.1
–6.6

0
0.4
–2.4
–5.7

–0.2
–0.1
–0.5
–8

24.5
48.7
23.1
2015Q2
–3.8
2015Q2
1.6

24.5
48.9
23
2015Q3
:
2015Q3
0.6

24.2
50.1
22.7
2015Q4
:
2015Q4
0.3

24.3
50.9
22.8
2016Q1
:
2016Q1
–0.1

23.9
50.5
22.4
2016Q2
:
2016Q2
0.5

23.8
50
22.3

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
–0.4
–3.9
–
–
4.1
–1.2

–4.4
–2.9
–
–
–3.4
–6.8
2016Q2

–1.5
4.3
–
–
–0.7
–1.7
2016Q1

–1.2
–1.7
–
–
1
–2.4
2015Q2

2.5
7.1
–
–
1.9
0.2
2015Q4

3.8
2.6
–
–
–1.6
–4.4
2015Q3

–4.1

–1.6

–14.2

–2.8

169.4

171.8

176.9

176.3

:

:

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

Economic sentiment indicator (1) 

index

87.1

87.1

87.6

91.6

89

90.1

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

–

–

–

–

–

–

2016M04
0.7
–0.4
0.2
–8.8
2016M04
23.5
49.7
22

Q/Q–4 % (3)

Q/Q–4 %
2016M04
4.1
3.5
–
–
–0.6
–2

2016M04
90.3
2016M04
–

0
–0.2
1.3
–8.1

1.3
0.2
0.5
–7.3

0
0.4
–0.2
–4.1

23.4
46.5
22.1
2015Q3
:
2015Q3
2.2

23.6
49.8
22.1
2015Q2
–2.9
2015Q2
2.4

2016M05 2016M06 2016M07 2016M08 2016M09
:
–1.2
:
0.2
:
–1
:
–7
2016M05 2016M06 2016M07 2016M08 2016M09
23.2
42.7
22
2015Q4
:
2015Q4
2.5
2016M05 2016M06 2016M07 2016M08 2016M09
:
:
–
–
:
:

:
:
:
2016Q1
:
2016Q1
2.4

:
:
:
2016Q2
:
2016Q2
1.3

–4.2
3.4
–
–
–1.6
–6.3

4.1
8
–
–
0.9
–3.6

–1
4.1
–
–
4.9
9.7

:
:
–
–
:
:

89.7

2016M05 2016M06 2016M07 2016M08 2016M09
90.9
2016M05 2016M06 2016M07 2016M08 2016M09
–

89.7

92.5

91.4

–

–

–

–

7.81

7.41

8.21

9.08

10.41

9.12

9.03

7.64

7.92

7.99

8.19

:

3–month interest rate
Long term government  
bond yields 

%

%

(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 
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)

36

  Eurostatistics — 10/2016 edition 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
Greece

Graph 1: Output

Growth rate
9.0 

6.0 

3.0 

0.0 

– 3.0 

– 6.0 

Principal European Economic Indicators (PEEIs)

2

Graph 2: Demand

Growth rate
(PFC,I)

30.0 

20.0 

10.0 

0.0 

– 10.0 

Index

95.0

90.0

85.0

80.0

75.0

70.0

– 20.0 

Growth rate
(RT)

6 

4 

2 

0 

2
– 2

– 4

– 6

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

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

%
25.5 

25.0 

24.5 

24.0 

23.5 

23.0 

Growth Rate
1.5

1.0

0.5

0.0

-0.5

-1.0

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Employment (q/q-1)

Unemployment rate Total (%)

Graph 4: Prices

Growth Rate

2.0 

1.0 

0.0 

– 1.0 

2.0 
– 2 0

– 3.0 

– 4.0 

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

Mio  EUR

0

-500

-1000

1500
-1500

-2000

-2500

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

%
12.0

10.0

8.0

6.0

4.0

2.0

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

€/$

1.600

1.400

1.200

1.000

0.800

0.600

External trade balance  

BOP current account 

Long-term government bond yields - rates

Euro-dollar exchange rate

37

Eurostatistics — 10/2016 edition  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)

2015Q2
1

2015Q3
0.8

2015Q4
0.8

2016Q1
0.8

2016Q2
0.8

Q/Q–4 %

2015Q2
3.3

2015Q3
3.5

2015Q4
3.3

2016Q1
3.5

2016Q2
3.4

0.8

2.3

1.1

1.3

0.7

1.1

1

0.3

0.7

1.3

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

Q/Q–4 %

2.9

3.8

2.9

3.6

3.3

Q/Q–4 %
2016M04

7

4.2
5.7
2016M05 2016M06 2016M07 2016M08 2016M09

4.7

6.9

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

BOP Current account  
(All countries of the world)

mn euro

–1225.6

–758.9

–663.4 –1387.3 –1278.7 –1184.9

–542.4

–916.5 –1483.2

–949.4

–1640.4 –1183.9

–817.5 –1754.1 –1643.6 –1573.7

–1000.7 –1310.3 –1858.3 –1577.1

:

:

:

:

2015Q2

2015Q3

2015Q4

2016Q1

2016Q2

mn euro

2546

5998

8091

–1141

:

Inflation (Harmonized Index  
of Consumer Prices – All items) 

Industrial producer prices

M/M–1 %
M/M–12 %
M/M–1 % 
M/M–12 %

Unemployment 
rate 

 total (2)
age <25 year (2)
age >25 year (2)

%
%
%

Labour Cost Index 

Q/Q–1 % (1)

Employment

Industrial production

Production in construction

Retail trade deflated turnover

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 %

0.3
–0.9
–0.8
–3.6

–0.4
–0.1
–0.7
–2.2

0.3
–0.4
–0.2
–2.6

–2.5
–0.4
–2.5
–4.2

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
2
–1
0.6
–5.4
2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
20.3
45.8
18.5

–0.4
–1
–1.1
–5.5

21.2
47
19.3
2015Q2
0.2
2015Q2
0.9

20.9
46.7
19.1
2015Q3
–0.2
2015Q3
0.7

20.7
46.6
18.9
2015Q4
0.5
2015Q4
0.7

20.6
46.2
18.8
2016Q1
0
2016Q1
0.8

20.5
46.2
18.7
2016Q2
–0.2
2016Q2
0.5

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
1.3
3.7
–0.7
7.4
0.4
4.5

–0.4
1.8
–0.5
12.8
0.4
4.1
2016Q2

–0.3
3.4
2.8
20.6
0.4
3.6
2016Q1

0.3
4.9
1.1
9.2
0.4
6.1
2015Q2

–0.1
4.4
2
5.9
0.2
2.4
2015Q4

0
4.9
–0.7
0.2
–0.1
3.3
2015Q3

General government deficit (–) 
/surplus (+)
General government gross debt

%

%

–8.5

99.8

–0.8

99.7

–7.7

99.2

–3.1

100.5

:

:

Economic sentiment indicator (2) 

index

3–month interest rate
Long term government  
bond yields 

%

%

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
106.9
108.4
2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

107.8

107.3

108.6

111.9

–

–

–

–

–

–

2016M04
0.5
–1.2
–0.2
–6
2016M04

20.2
45.6
18.5

Q/Q–4 % (3)

Q/Q–4 %
2016M04
–0.3
2.8
–2.2
–6
0.4
4.2

2016M04
106.1
2016M04
–

2016M05 2016M06 2016M07 2016M08 2016M09
–1.3
–0.7
0
–4.6
2016M05 2016M06 2016M07 2016M08 2016M09

0.5
–1.1
0.8
–5.6

0
–0.3
–0.2
–3.1

0.4
–0.9
2
–4.5

:
:
:
:

:
:
:
2016Q2
0.4
2016Q2
2.7

20.1
45.3
18.3
2015Q2
0.5
2015Q2
2.9

19.5
43.2
17.9
2016Q1
0.4
2016Q1
3.2

19.9
45.2
18.1
2015Q3
0
2015Q3
3.2

19.6
43.9
18
2015Q4
1.6
2015Q4
3
2016M05 2016M06 2016M07 2016M08 2016M09
–0.1
–0.6
2.6
15.9
0.5
5.3

–0.6
1.1
2.7
2.7
–0.2
2.2

–0.1
0.2
1.5
5.2
1
5.8

:
:
:
:
–0.3
3.3

:
:
:
:
:
:

106.5

2016M05 2016M06 2016M07 2016M08 2016M09
106
105.7
2016M05 2016M06 2016M07 2016M08 2016M09
–

104.5

105

–

–

–

–

1.73

1.72

1.69

1.72

1.72

1.54

1.53

1.57

1.48

1.17

1.01

:

(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)

38

  Eurostatistics — 10/2016 edition 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
Spain

Graph 1: Output

Growth rate
9.0 

6.0 

3.0 

0.0 

– 3.0 

– 6.0 

Principal European Economic Indicators (PEEIs)

2

Graph 2: Demand

Growth rate
(PFC,I)

6.0 

4.0 

2.0 

0.0 

Index

120.0

115.0

110.0

105.0

100.0

– 2.0 

95.0

– 4.0 

Growth rate
(RT)

3 

2 

1 

0 

– 1

– 2

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

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

%
24.0 

23.0 

22.0 

21.0 

20.0 

19.0 

Growth Rate
2.0

1.5

1.0

0.5

0.0

-0.5

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Employment (q/q-1)

Labour cost index  (q/q-1)

Graph 4: Prices

Growth Rate

3.0 

2.0 

1.0 

0.0 

1.0 
– 1 0

– 2.0 

– 3.0 

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Unemployment rate Total (%)

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

Mio  EUR

10000

8000

6000

4000

2000

0

-2000

-4000

%
6.0

5.0

4.0

3.0

2.0

1.0

0.0

€/$

1.600

1.400

1.200

1.000

0.800

0.600

0.400

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

External trade balance  

BOP current account 

Long-term government bond yields - rates

Euro-dollar exchange rate

39

Eurostatistics — 10/2016 edition  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)

2015Q2
0

2015Q3
0.4

2015Q4
0.4

2016Q1
0.7

2016Q2
–0.1

Q/Q–4 %

2015Q2
1.2

2015Q3
1.1

2015Q4
1.4

2016Q1
1.5

2016Q2
1.9

0.1

–0.3

0.5

0.7

0

1.2

1.1

1.3

0

–0.2

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

Q/Q–4 %

1.4

1.6

1.1

1.8

2

Q/Q–4 %
2016M04

0.2

3.9
2.5
2016M05 2016M06 2016M07 2016M08 2016M09

2.8

0.7

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

BOP Current account  
(All countries of the world)

mn euro

2308

2144.2

2119.1

2980.6

1778.1

1940.1

2301.9

3818.5

2166.6

802.5

2346.6

1640.3

1925.2

2570.7

1351.4

1694.7

2229.6

3571.8

1780.9

494.8

:

:

:

:

2015Q2

2015Q3

2015Q4

2016Q1

2016Q2

mn euro

430

1906

–271

–16258

:

Inflation (Harmonized Index  
of Consumer Prices – All items) 

Industrial producer prices

M/M–1 %
M/M–12 %
M/M–1 % 
M/M–12 %

Unemployment 
rate 

 total (2)
age <25 year (2)
age >25 year (2)

%
%
%

Labour Cost Index 

Q/Q–1 % (1)

Employment

Industrial production

Production in construction

Retail trade deflated turnover

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 %

–0.2
0.1
0.2
–2.4

–1.1
0.3
–1
–2.7

0.1
0.2
0.1
–2.6

0.2
0.3
–1.2
–2.7

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
0.8
–0.1
0.3
–3.9
2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
10.1
24.6
8.6

0.3
–0.1
–0.5
–4.2

10.3
24.5
8.8
2015Q2
0.3
2015Q2
0.2

0.6
3.4
0.3
–3.2
–0.1
3.8
2015Q2

10.2
24.3
8.7
2015Q3
0.2
2015Q3
0.2

–0.7
3.6
1.5
0
–0.5
2.5
2015Q3

10.2
24.4
8.7
2015Q4
0.5
2015Q4
0.2

–0.6
–1.1
–3.5
–4.9
1.2
3.7
2015Q4

10.2
24.7
8.7
2016Q1
0.9
2016Q1
0.3

1.1
2
4.1
0.3
0.6
3.1
2016Q1

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
–0.2
–0.4
–1.8
–7.4
–0.4
3.9

10.3
24.9
8.8
2016Q2
:
2016Q2
0.2

–1.2
0.7
–4.8
–4.6
0.3
4
2016Q2

General government deficit (–) 
/surplus (+)
General government gross debt

%

%

–2.9

97.7

–4.3

97.1

0.5

96.2

–6.8

97.5

:

:

Economic sentiment indicator (2) 

index

3–month interest rate
Long term government  
bond yields 

%

%

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
102.1
103.4
2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

103.5

103.6

102.6

102

–

–

–

–

–

–

2016M04
0.1
–0.1
–0.7
–4.3
2016M04
9.9
24.2
8.4

Q/Q–4 % (3)

Q/Q–4 %
2016M04
1
2.1
2.7
–3
0.4
3

2016M04
101.3
2016M04
–

2016M05 2016M06 2016M07 2016M08 2016M09
–0.4
0.4
–0.1
–3

0.5
0.1
0.5
–3.3

0.1
0.3
0.4
–3.1

0.3
0.4
0
–2

:
:
:
:

10.5
24.9
9
2016Q1
2
2016Q1
0.8

9.9
24.3
8.4
2015Q2
1.2
2015Q2
0.4

10.1
24.5
8.6
2015Q3
1.2
2015Q3
0.5

:
:
:
2016Q2
1.4
2016Q2
0.6

2016M05 2016M06 2016M07 2016M08 2016M09
10.3
24.5
8.9
2015Q4
1.3
2015Q4
0.7
2016M05 2016M06 2016M07 2016M08 2016M09
–0.5
–0.3
3.4
1.8
–0.3
1.4

–0.7
–1.3
–0.4
–2.1
–0.2
2

–0.6
0.6
0.9
–3.2
0.1
2.7

2
0.2
–2.6
2
–0.2
–1.5

:
:
:
:
:
:

2016M05 2016M06 2016M07 2016M08 2016M09
102.2
100.1
102.7
2016M05 2016M06 2016M07 2016M08 2016M09
–

101.3

101

–

–

–

–

0.87

0.88

0.93

0.84

0.59

0.51

0.51

0.51

0.39

0.17

0.15

:

(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)

40

  Eurostatistics — 10/2016 edition 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
France

Graph 1: Output

Growth rate
9.0 

6.0 

3.0 

0.0 

– 3.0 

– 6.0 

Principal European Economic Indicators (PEEIs)

2

Graph 2: Demand

Index

105.0

Growth rate
(PFC,I)

6.0 

100.0

95.0

90.0

4.0 

2.0 

0.0 

– 2.0 

85.0

– 4.0 

Growth rate
(RT)

3 

2 

1 

0 

– 1

– 2

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

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

%

10.9 

10.5 

10.1 

9.7 

9.3 

Growth Rate
1.5

1.0

0.5

0.0

-0.5

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Employment (q/q-1)

Labour cost index  (q/q-1)

Graph 4: Prices

Growth Rate

3.0 

2.0 

1.0 

0.0 

1.0 
– 1 0

– 2.0 

– 3.0 

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Unemployment rate Total (%)

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

Mio  EUR

5000

0

-5000

-10000

-15000

-20000

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

%
6.0

5.0

4.0

3.0

2.0

1.0

0.0

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

€/$

1.600

1.400

1.200

1.000

0.800

0.600

0.400

External trade balance  

BOP current account 

Long-term government bond yields - rates

Euro-dollar exchange rate

41

Eurostatistics — 10/2016 edition  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)

2015Q2
0.9

2015Q3
1.4

2015Q4
–0.5

2016Q1
0.5

2016Q2
0.5

Q/Q–4 %

2015Q2
1.2

2015Q3
2.8

2015Q4
1.9

2016Q1
2.7

2016Q2
2.8

0.2

0

0.5

1.5

0.9

0.6

0.6

2.1

0.8

2

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

Q/Q–4 %

0.6

1.4

2.4

3.1

3

Q/Q–4 %
2016M04

0.8

6.3
3.7
2016M05 2016M06 2016M07 2016M08 2016M09

4.3

2.2

External trade balance 
(extra EU28) (2)

BOP Current account  
(all countries of the world)

–17.7

–18.9

–31.3

12.4

38.5

12.2

–5.4

–28.8

58.5

–12.2

:

:

2015Q2

2015Q3

2015Q4

2016Q1

2016Q2

mn euro

25.2

3910.2

–425.4 –1582.3

:

Inflation (Harmonized Index  
of Consumer Prices – All items) 

Industrial producer prices

M/M–1 %
M/M–12 %
M/M–1 % 
M/M–12 %

Unemployment 
rate 

 total (2)
age <25 year (2)
age >25 year (2)

%
%
%

Labour Cost Index 

Q/Q–1 % (1)

Employment

Industrial production

Production in construction

Retail trade deflated turnover

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 %

–0.4
–0.2
–1
–2.8

–0.6
–0.4
–0.6
–4.3

–0.2
–0.5
0
–4.5

–0.6
–0.3
–1
–4.1

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
0.5
–0.9
1.1
–5
2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
13.9
31.1
12.1

–0.3
–0.6
–0.8
–4.8

16.1
40.1
13.4
2015Q2
1.2
2015Q2
0.3

1.6
6.7
–
–
0.7
4.3
2015Q2

15.7
40.1
13.2
2015Q3
–1.8
2015Q3
–0.5

–1.6
3.6
–
–
0.9
5.5
2015Q3

15.1
40.1
12.9
2015Q4
0.4
2015Q4
1.1

–2.1
0.6
–
–
1.7
6.7
2015Q4

14.7
31.1
12.9
2016Q1
3
2016Q1
–0.2

2.4
9.4
–
–
–2.9
1.5
2016Q1

14.3
31.1
12.6
2016Q2
5
2016Q2
0.8

–0.4
4.6
–
–
0
1.7
2016Q2

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
4
6.9
–
–
0.6
2.8

General government deficit (–) 
/surplus (+)
General government gross debt

%

%

–3.4

87

0.4

87.3

–3.1

86.7

–2.8

85.8

:

:

118.6

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
118.7
118.4
2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
0.83

120.9

120.3

118.5

1.24

1.06

0.88

1.75

1.41

2016M04
0.4
–0.9
–1.5
–5.8
2016M04
13.6
31.7
11.6

Q/Q–4 % (3)

Q/Q–4 %
2016M04
–3.1
5
–
–
0.6
2.6

2016M04
118.6
2016M04
0.82

2016M05 2016M06 2016M07 2016M08 2016M09
–0.1
–1.1
–0.7
–5

0.3
–1.2
0.1
–6.3

0.3
–1.2
1.2
–4.8

–0.2
–1.5
–1.4
–5

:
:
:
:

2016M05 2016M06 2016M07 2016M08 2016M09

:
:
:
2016Q2
3
2016Q2
1.1

12.9
:
11
2016Q1
2.8
2016Q1
0.7

13.1
31.7
11.1
2015Q3
0.2
2015Q3
–0.3

13.2
31.7
11.2
2015Q2
3
2015Q2
2.2

13
:
11.1
2015Q4
0.7
2015Q4
2
2016M05 2016M06 2016M07 2016M08 2016M09
–0.5
1.2
–
–
1
1.5

–0.9
1.7
–
–
–0.2
2.2

–1.1
2.5
–
–
:
:

0.3
4.1
–
–
–1
0

:
:
–
–
:
:

117.8

2016M05 2016M06 2016M07 2016M08 2016M09
116.1
118.3
2016M05 2016M06 2016M07 2016M08 2016M09
:
0.79

119.6

0.82

121

0.8

0.8

3.93

3.86

3.92

3.84

3.68

3.66

3.62

3.52

3.81

3.75

3.58

:

Average

7.62

7.61

7.64

7.66

7.63

7.56

7.49

7.50

7.52

7.49

7.49

7.50

Economic sentiment indicator (2) 

index

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

%

%

(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 — 10/2016 edition 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
Croatia

Graph 1: Output

Growth rate
9.0 

6.0 

3.0 

0.0 

– 3.0 

– 6.0 

Principal European Economic Indicators (PEEIs)

2

Graph 2: Demand

Growth rate
(PFC,I)

3.0 

2.0 

1.0 

0.0 

Index

130.0

125.0

120.0

115.0

110.0

– 1.0 

105.0

– 2.0 

Growth rate
(RT)

2 

1 

0 

– 1

– 2

– 3

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

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

%
16.5 

15.5 

14.5 

13.5 

12.5 

Growth Rate
6.0

4.0

2.0

0.0

-2.0

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Employment (q/q-1)

Labour cost index  (q/q-1)

Graph 4: Prices

Growth Rate

3.0 

2.0 

1.0 

0.0 

1.0 
– 1 0

– 2.0 

– 3.0 

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Unemployment rate Total (%)

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

Mio  EUR

200
0
-200
-400
-600
-800
-1000
-1200
-1400
-1600
-1800

%
5.0

4.0

3.0

2.0

1.0

0.0

-1.0

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

External trade balance  

BOP current account 

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

Croation 
Kuna/€
7.80

7.70

7.60

7.50

7.40

7.30

43

Eurostatistics — 10/2016 edition  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)

2015Q2
0.2

2015Q3
0.2

2015Q4
0.2

2016Q1
0.3

2016Q2
0

Q/Q–4 %

2015Q2
0.9

2015Q3
0.6

2015Q4
1

2016Q1
0.8

2016Q2
1

0.7

0

0.6

0.6

0.3

0.9

0.4

0.7

0.1

0.2

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

Q/Q–4 %

1.4

1.9

1.7

2.3

1.2

Q/Q–4 %
2016M04

0.6

3
2.8
2016M05 2016M06 2016M07 2016M08 2016M09

2.1

1.4

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

BOP Current account  
(all countries of the world)

mn euro

3924.8

4248.7

4875.3

3951.5

4400.5

4453.6

5101.4

4165.4

4546.9

4564

2595.8

2903.6

3600.1

2715.4

3033.2

3253.1

3760.9

2898.9

3253

3366.6

:

:

:

:

2015Q2

2015Q3

2015Q4

2016Q1

2016Q2

mn euro

6432

13104

15208

4914

:

Inflation (Harmonized Index  
of Consumer Prices – All items) 

Industrial producer prices

M/M–1 %
M/M–12 %
M/M–1 % 
M/M–12 %

Unemployment 
rate 

 total (2)
age <25 year (2)
age >25 year (2)

%
%
%

Labour Cost Index 

Q/Q–1 % (1)

Employment

Industrial production

Production in construction

Retail trade deflated turnover

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 %

–0.4
0.1
–0.5
–4.1

–2.2
0.4
–0.8
–3

0
0.1
–0.6
–3.9

0.4
0.3
–0.3
–3.7

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
2.1
–0.2
0.2
–3.9
2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
11.4
36.9
9.9

–0.4
–0.2
–0.5
–4.1

11.5
38.1
9.8
2015Q3
0
2015Q3
0.5

–0.5
1.3
3
4
0.6
1.2
2015Q3

11.7
38.6
9.8
2015Q4
–0.4
2015Q4
0.4

–0.7
–0.9
–0.1
1.1
0
0.9
2015Q4

11.7
39.1
9.9
2016Q1
–0.3
2016Q1
0.4

1.6
3.6
–1.6
–1.9
0.1
1
2016Q1

11.7
38.5
9.9
2016Q2
–0.4
2016Q2
0.5

–0.8
1.1
0.3
0.5
0.3
2.7
2016Q2

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
–0.1
0.5
–0.7
–0.4
–0.5
0

11.6
39.1
9.8
2015Q2
–0.8
2015Q2
0.1

0.7
3.1
–0.1
–3.9
–0.5
1
2015Q2

General government deficit (–) 
/surplus (+)
General government gross debt

%

%

–1.1

136

–2.1

–2.2

–4.7

134.6

132.7

135.4

:

:

Economic sentiment indicator (2) 

index

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
103.7
109.6
2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

109.2

107.5

106.1

108.8

–

–

–

–

–

2016M04
0.2
–0.4
–0.9
–4.5
2016M04
11.5
36.6
9.8

Q/Q–4 % (3)

Q/Q–4 %
2016M04
0.4
1.8
2.2
2.7
0.1
–0.1

2016M04
108.1
2016M04
–

:
:
:
:

–0.1
–0.1
–0.3
–1.1

0.3
–0.3
0.8
–4.1

0.2
–0.2
0.5
–3.4

11.5
37.2
9.8
2015Q3
–0.3
2015Q3
0.7

11.4
36.9
9.8
2015Q2
–0.7
2015Q2
0.3

2016M05 2016M06 2016M07 2016M08 2016M09
–1.9
–0.2
1.6
–1.4
2016M05 2016M06 2016M07 2016M08 2016M09
11.4
39.2
:
2015Q4
–0.7
2015Q4
0.9
2016M05 2016M06 2016M07 2016M08 2016M09
0.4
–0.3
–0.4
–1.3
0.1
0.5

:
:
:
2016Q2
–1.1
2016Q2
1.8

11.4
38.8
:
2016Q1
–1.5
2016Q1
1.2

–0.6
–0.6
–3.9
–2.8
0.5
1

–0.3
–0.9
1.2
0
–0.3
1.1

:
:
:
:
:
:

:
:
:
:
:
:

104.8

2016M05 2016M06 2016M07 2016M08 2016M09
103.5
105.2
108.4
2016M05 2016M06 2016M07 2016M08 2016M09
–

103.1

–

–

–

–

1.57

1.58

1.53

1.56

1.38

1.44

1.53

1.45

1.23

1.18

:

3–month interest rate
Long term government  
bond yields 

%

%

–

1.7

(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)

44

  Eurostatistics — 10/2016 edition 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
Italy

Graph 1: Output

Growth rate
9.0 

6.0 

3.0 

0.0 

– 3.0 

Principal European Economic Indicators (PEEIs)

2

Graph 2: Demand

Index

115.0

Growth rate
(PFC,I)

6.0 

110.0

105.0

100.0

4.0 

2.0 

0.0 

– 2.0 

95.0

– 4.0 

Growth rate
(RT)

3 

2 

1 

0 

– 1

– 2

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

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

%
12.5 

12.1 

11.7 

11.3 

10.9 

Growth Rate
1.5

1.0

0.5

0.0

-0.5

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Employment (q/q-1)

Labour cost index  (q/q-1)

Graph 4: Prices

Growth Rate

3.0 

2.0 

1.0 

0.0 

1.0 
– 1 0

– 2.0 

– 3.0 

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Unemployment rate Total (%)

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

Mio  EUR

16000

14000

12000

10000

8000

6000
6000

4000

2000

0

%
6.0

5.0

4.0

3.0

2.0

1.0

0.0

€/$

1.600

1.400

1.200

1.000

0.800

0.600

0.400

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

External trade balance  

BOP current account 

Long-term government bond yields - rates

Euro-dollar exchange rate

45

Eurostatistics — 10/2016 edition  2 Principal European Economic Indicators (PEEIs)

Detailed PEEIs analysis for Cyprus

Indicators

Unit

Reference Period

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

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

BOP Current account  
(all countries of the world)

Q/Q–1 % (1)

2015Q2
0.8

2015Q3
0.4

2015Q4
0.5

2016Q1
1

2016Q2
0.7

Q/Q–4 %

2015Q2
1.4

2015Q3
2.3

2015Q4
2.5

2016Q1
2.6

2016Q2
2.9

Q/Q–1 % (1)

0.2

Q/Q–1 % (1)

–28.9

0.7

23.8

0.7

0.3

1.2

Q/Q–4 %

1.2

2.1

2.4

2.6

2.8

–9.7

–53.3

349.9

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

Q/Q–4 %
2016M04

18.7

133
10.4
2016M05 2016M06 2016M07 2016M08 2016M09

–66.1

–8.7

mn euro

–99

–53.2

–90.6

–47.6

–66.4

–87.3

–63.6

–112

–86.1

–70.5

–62.7

–28.4

–35.7

–24.7

–45.8

–40.4

–34.4

–66.7

–60.4

–37.6

:

:

:

:

2015Q2

2015Q3

2015Q4

2016Q1

2016Q2

mn euro

20

100

–110

–38

:

Inflation (Harmonized Index  
of Consumer Prices – All items) 

Industrial producer prices

M/M–1 %
M/M–12 %
M/M–1 % 
M/M–12 %

Unemployment 
rate 

 total (2)
age <25 year (2)
age >25 year (2)

%
%
%

Labour Cost Index 

Q/Q–1 % (2)

Employment

Industrial production

Production in construction

Retail trade deflated turnover

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 %

–0.2
–1.8
–0.1
–6.8

–1.4
–1.1
–1.3
–6.9

–0.6
–0.6
–0.2
–7.1

–1.2
–1.5
–1.9
–6.8

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
0.7
–2.2
–1.9
–5.7
2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
13
29.2
11.5

–0.6
–2.2
–0.1
–6.8

13.6
30.7
12
2015Q3
0
2015Q3
0.4

2.5
8.8
–
–
0.2
3.1
2015Q3

13.4
30.7
11.9
2015Q4
0
2015Q4
0.7

–0.2
7
–
–
2.4
8.6
2015Q4

13.3
29.2
11.7
2016Q1
0.4
2016Q1
0.5

2.4
11
–
–
–1.4
3.8
2016Q1

13.2
29.2
11.7
2016Q2
–0.1
2016Q2
0.8

0.2
8.9
–
–
1
7.4
2016Q2

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
1.3
10.6
–
–
0.9
8.3

13.8
30.7
12.3
2015Q2
0
2015Q2
0.2

–0.7
3.6
–
–
–0.1
4.4
2015Q2

General government deficit (–) 
/surplus (+)
General government gross debt

%

%

–0.3

2.9

–6.4

3.6

110.7

110.2

108.9

109.3

:

:

Economic sentiment indicator (1) 

index

3–month interest rate
Long term government  
bond yields 

%

%

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
108.9
106.9
2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

107.4

108.1

106.3

106.7

–

–

–

–

–

–

2016M04
0.4
–2.1
–0.1
–5.3
2016M04
12.6
26.7
11.2

Q/Q–4 % (3)

Q/Q–4 %
2016M04
1.2
10.3
–
–
0.9
9.1

2016M04
113.3
2016M04
–

2016M05 2016M06 2016M07 2016M08 2016M09

:
:
:
:

1.3
–1.9
0.8
–4.8

0.4
–0.6
0.2
–3.1

0.3
–2
–0.2
–4.8

1
–0.4
2.5
–3.3
2016M05 2016M06 2016M07 2016M08 2016M09
12.1
:
10.8
2015Q4
–0.7
2015Q4
1.6
2016M05 2016M06 2016M07 2016M08 2016M09

12.2
26.7
10.9
2015Q3
–0.7
2015Q3
0.8

12.4
26.7
11
2015Q2
–0.5
2015Q2
0.4

12.1
:
10.7
2016Q1
0.5
2016Q1
1.7

:
:
:
2016Q2
0.6
2016Q2
2.5

–2.6
3.8
–
–
–2.8
0.7

2.9
10.8
–
–
1.7
5.8

0
8.4
–
–
–0.8
2.1

:
:
–
–
:
:

:
:
–
–
:
:

109.9

2016M05 2016M06 2016M07 2016M08 2016M09
110.1
110.1
111.3
2016M05 2016M06 2016M07 2016M08 2016M09
–

116.2

–

–

–

–

3.64

4.00

3.87

3.82

4.00

4.01

3.99

3.89

3.82

3.87

3.84

:

(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 
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)

46

  Eurostatistics — 10/2016 edition 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

Graph 2: Demand

Growth rate
(PFC,I)

400.0 

300.0 

200.0 

100.0 

0.0 

Index

120.0

115.0

110.0

105.0

100.0

Growth rate
(RT)

2

6 

4 

2 

0 

– 2

– 4

Cyprus

Graph 1: Output

Growth rate
9.0 

6.0 

3.0 

0.0 

– 3.0 

– 6.0 

Mio  EUR

0

-20

-40

-60

-80

-100

-120

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

95.0

– 100.0 

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

%
16.0 

15.0 

14.0 

13.0 

12.0 

11.0 

Growth Rate
1.5

1.0

0.5

0.0

-0.5

-1.0

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Employment (q/q-1)

Labour cost index  (q/q-1)

Graph 4: Prices

Growth Rate

3.0 

2.0 

1.0 

0.0 

1.0 
– 1 0

– 2.0 

– 3.0 

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Unemployment rate Total (%)

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

%
6.0

5.0

4.0

3.0

2.0

1.0

0.0

€/$

1.600

1.400

1.200

1.000

0.800

0.600

0.400

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

External trade balance  

BOP current account 

Long-term government bond yields - rates

Euro-dollar exchange rate

47

Eurostatistics — 10/2016 edition  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)

2015Q2
1

2015Q3
0.6

2015Q4
–0.3

2016Q1
–0.1

2016Q2
0.6

Q/Q–4 %

2015Q2
2.8

2015Q3
3.5

2015Q4
2.7

2016Q1
2.1

2016Q2
2

0.3

3.8

1.4

–3.3

0.1

1.2

–4.2

–11.4

1.2

–8.4

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

Q/Q–4 %

3.1

5.1

1.8

3

4.1

Q/Q–4 %
2016M04

4.3

–26.3
0.5
2016M05 2016M06 2016M07 2016M08 2016M09

–15.7

6.1

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

BOP Current account  
(all countries of the world)

mn euro

20.6

42.5

50.9

42.8

27.3

25.5

39.8

30.1

20.9

45.2

45.2

82.8

80.5

79.5

76.4

63.9

81.3

66.8

56.8

90.1

:

:

:

:

2015Q2

2015Q3

2015Q4

2016Q1

2016Q2

mn euro

–148

–190

91

101

:

Inflation (Harmonized Index  
of Consumer Prices – All items) 

Industrial producer prices

M/M–1 %
M/M–12 %
M/M–1 % 
M/M–12 %

Unemployment 
rate 

 total (2)
age <25 year (2)
age >25 year (2)

%
%
%

Labour Cost Index 

Q/Q–1 % (1)

Employment

Industrial production

Production in construction

Retail trade deflated turnover

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 %

–0.1
0
0.2
–2.3

0
–0.1
–0.5
–2.8

–0.7
–0.3
0
–2.8

–0.3
0.4
–0.3
–2.5

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
0.8
–0.6
–0.6
–3.9
2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
9.7
16.2
9.1

0.1
–0.6
–1.3
–3.9

9.9
19.4
9
2015Q3
1.7
2015Q3
0.4

0.8
4.5
–
–
–2.7
0.8
2015Q3

9.9
18.8
9.1
2015Q4
2
2015Q4
0.5

–0.8
2.7
–
–
0.4
2.6
2015Q4

10.1
17.3
9.5
2016Q1
1.9
2016Q1
–0.1

0.3
4.8
–
–
1.8
3
2016Q1

9.9
16.2
9.3
2016Q2
3.2
2016Q2
0.2

–0.1
3.8
–
–
0.3
2.6
2016Q2

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
4.2
2.7
–
–
–0.2
0.7

9.8
18.6
9
2015Q2
0.9
2015Q2
0.1

0.1
1.9
–
–
0.7
5.7
2015Q2

General government deficit (–) 
/surplus (+)
General government gross debt

%

%

0.9

35.3

0.2

36.4

–6.6

36.4

2.9

36.2

:

:

Economic sentiment indicator (2) 

index

3–month interest rate
Long term government  
bond yields 

%

%

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
103.6
102.6
2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

103.1

102.7

101.6

102.2

–

–

–

–

–

–

2016M04
0.4
–0.7
–0.2
–4
2016M04
9.5
18
8.8

Q/Q–4 % (3)

Q/Q–4 %
2016M04
–1.8
0
–
–
0.5
2

2016M04
104.2
2016M04
–

2016M05 2016M06 2016M07 2016M08 2016M09
–0.3
0.1
0
–4

–0.7
–0.1
0.9
–2.7

0.1
–0.6
0
–4.4

0.7
–0.8
–0.4
–4.3

:
:
:
:

9.3
15.8
8.8
2016Q1
6.7
2016Q1
0.8

9.6
18.7
8.8
2015Q3
7.3
2015Q3
2.3

:
:
:
2016Q2
9.5
2016Q2
0.9

9.5
18.8
8.7
2015Q2
6.4
2015Q2
0.5

2016M05 2016M06 2016M07 2016M08 2016M09
9.5
17.4
8.9
2015Q4
7.6
2015Q4
2.6
2016M05 2016M06 2016M07 2016M08 2016M09
–2.1
2.6
–
–
0.4
1.6

–2
–0.6
–
–
0.2
1.1

0.5
7.9
–
–
–0.7
1.5

2.1
5.4
–
–
0.7
3.6

:
:
–
–
:
:

104.7

2016M05 2016M06 2016M07 2016M08 2016M09
104.7
104.4
104.3
2016M05 2016M06 2016M07 2016M08 2016M09
–

103.1

–

–

–

–

1.07

1.19

1.08

1.05

0.88

0.71

0.61

0.51

0.48

0.3

0.12

:

(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 — 10/2016 edition 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
Latvia

Graph 1: Output

Growth rate
9.0 

6.0 

3.0 

0.0 

– 3.0 

– 6.0 

Principal European Economic Indicators (PEEIs)

2

Graph 2: Demand

Growth rate
(PFC,I)

10.0 

5.0 

0.0 

– 5.0 

– 10.0 

– 15.0 

Index

115.0

110.0

105.0

100.0

95.0

90.0

Growth rate
(RT)

2 

1 

0 

– 1

– 2

– 3

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

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

%
10.9 

10.5 

10.1 

9.7 

9.3 

8.9 

Growth Rate
4.0

3.0

2.0

1.0

0.0

-1.0

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Employment (q/q-1)

Labour cost index  (q/q-1)

Graph 4: Prices

Growth Rate

3.0 

2.0 

1.0 

0.0 

1.0 
– 1 0

– 2.0 

– 3.0 

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Unemployment rate Total (%)

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

Mio  EUR

120

100

80

60

40

20

0

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

%
6.0

5.0

4.0

3.0

2.0

1.0

0.0

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

€/$

1.600

1.400

1.200

1.000

0.800

0.600

0.400

External trade balance  

BOP current account 

Long-term government bond yields - rates

Euro-dollar exchange rate

49

Eurostatistics — 10/2016 edition  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)

2015Q2
0.7

2015Q3
0.6

2015Q4
0.6

2016Q1
0.6

2016Q2
0.4

Q/Q–4 %

2015Q2
1.6

2015Q3
1.8

2015Q4
2.1

2016Q1
2.4

2016Q2
1.9

0.6

1.7

1.8

–0.2

0.9

–2.8

0.9

0.8

2.4

2.5

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

Q/Q–4 %

3.6

5.2

4.1

5

6.5

Q/Q–4 %
2016M04

6.3

2.6
2.2
2016M05 2016M06 2016M07 2016M08 2016M09

–6.1

5.3

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

BOP Current account  
(all countries of the world)

mn euro

90.6

169.8

–2.5

203.8

138.3

100.8

147

36.2

20.1

104.1

112.2

215

37.3

206.3

174.8

156.8

174.6

56

17.6

115.7

:

:

:

:

2015Q2

2015Q3

2015Q4

2016Q1

2016Q2

mn euro

–518

–225

421

37.1

:

Inflation (Harmonized Index  
of Consumer Prices – All items) 

Industrial producer prices

M/M–1 %
M/M–12 %
M/M–1 % 
M/M–12 %

Unemployment 
rate 

 total (2)
age <25 year (2)
age >25 year (2)

%
%
%

Labour Cost Index 

Q/Q–1 % (1)

Employment

Industrial production

Production in construction

Retail trade deflated turnover

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 %

–0.4
0.7
1.7
–3.6

–0.4
–0.2
–0.9
–8.1

–0.1
–0.5
0
–9.1

0.5
–0.4
–0.7
–10.5

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
1.1
0.8
–0.5
–6.2
2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
8.4
14.2
7.9

–0.3
0.5
–1.8
–6

8.9
14.1
8.4
2015Q2
0.9
2015Q2
0.9

10.7
6.7
–
–
0.6
6.7
2015Q2

8.8
13.7
8.4
2015Q3
1.8
2015Q3
0.5

–2
5.7
–
–
–0.1
4.7
2015Q3

8.9
13.9
8.4
2015Q4
0.8
2015Q4
–0.3

–3.3
3.5
–
–
0.8
5.2
2015Q4

8.6
13.6
8.2
2016Q1
2.1
2016Q1
1.3

0.9
9.2
–
–
0.6
6.5
2016Q1

8.5
13.9
8
2016Q2
1.5
2016Q2
1

1.2
5.6
–
–
0.9
8.5
2016Q2

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
–3.6
2.7
–
–
0.1
5

General government deficit (–) 
/surplus (+)
General government gross debt

%

%

1.7

37.6

1.9

38.2

–2.3

42.8

–2.2

40.1

:

:

Economic sentiment indicator (2) 

index

3–month interest rate
Long term government  
bond yields 

%

%

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
105.4
105.6
2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

106.1

106.2

105.7

105

–

–

–

–

–

–

2016M04
0.7
0.8
0.1
–6.4
2016M04
8
14.8
7.4

Q/Q–4 % (3)

Q/Q–4 %
2016M04
–3
–1.6
–
–
1.2
6.6

2016M04
104.1
2016M04
–

:
:
:
:

0
0.4
1
–3.4

0
0.2
0.5
–5.6

–0.4
0.5
–0.5
–2.8

8.2
15.5
7.6
2015Q2
4.3
2015Q2
2.1

8.4
16.2
7.7
2015Q3
5.7
2015Q3
0.1

2016M05 2016M06 2016M07 2016M08 2016M09
–0.8
0
–0.7
–3.9
2016M05 2016M06 2016M07 2016M08 2016M09
8.8
16.5
8.1
2015Q4
4.7
2015Q4
1.3
2016M05 2016M06 2016M07 2016M08 2016M09
–0.3
–0.6
–
–
0.7
6.1

:
:
:
2016Q2
6.6
2016Q2
2.4

8.6
16.6
7.9
2016Q1
6.1
2016Q1
2.6

–0.5
–1.4
–
–
0.6
6.5

–2
–1.2
–
–
0.4
6.4

4
0.2
–
–
0.6
6.2

:
:
–
–
:
:

103.7

2016M05 2016M06 2016M07 2016M08 2016M09
103.8
104.1
2016M05 2016M06 2016M07 2016M08 2016M09
–

106

107

–

–

–

–

1.64

1.57

1.49

1.47

1.42

1.42

1.31

0.86

0.86

0.86

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 
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 — 10/2016 edition 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
Lithuania

Graph 1: Output

Growth rate

12.0 

8.0 

4.0 

0.0 

– 4.0 

– 8.0 

Principal European Economic Indicators (PEEIs)

2

Graph 2: Demand

Growth rate
(PFC,I)

15.0 

10.0 

5.0 

0.0 

5.0
– 5.0 

– 10.0 

– 15.0 

Index

115.0

110.0

105.0

100.0

95.0

90.0

Growth rate
(RT)

3 

2 

1 

0 

– 1

– 2

– 3

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

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

%
10.0 

9.5 

9.0 

8.5 

8.0 

7.5 

Growth Rate
3.0

2.0

1.0

0.0

-1.0

-2.0

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Employment (q/q-1)

Labour cost index  (q/q-1)

Graph 4: Prices

Growth Rate

3.0 

2.0 

1.0 

0.0 

1.0 
– 1 0

– 2.0 

– 3.0 

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Unemployment rate Total (%)

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

Mio  EUR

450

400

350

300

250

200

150

100

50

0

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

External trade balance  

BOP current account 

%
6.0

5.0

4.0

3.0

2.0

1.0

0.0

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Long-term government bond yields - rates
Lithuanian Litas exchange rates against the euro

€/$

1.600

1.400

1.200

1.000

0.800

0.600

0.400

51

Eurostatistics — 10/2016 edition  2 Principal European Economic Indicators (PEEIs)

Detailed PEEIs analysis for Luxembourg

Indicators

Unit

Reference Period

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

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

BOP Current account  
(all countries of the world)

Q/Q–1 % (1)

2015Q2
1.1

2015Q3
1.1

2015Q4
1.5

2016Q1
0.7

2016Q2
:

Q/Q–4 %

2015Q2
5.4

2015Q3
5.4

2015Q4
3.5

2016Q1
4.5

2016Q2
:

Q/Q–1 % (1)

1.1

Q/Q–1 % (1)

–13.8

–0.6

5.1

0

–7.8

–0.7

1.8

:

:

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

Q/Q–4 %

1.1

0.3

–1.1

–0.2

:

Q/Q–4 %
2016M04

0.8

:
–16.5
2016M05 2016M06 2016M07 2016M08 2016M09

–14.6

0

mn euro

–120.1

–134.6

63.6

–110.6

–155.1

–50.7

–101.9

–16.2

–182.9

–109

–215

–196

–224.3

–192

–247.3

–116.4

–170

–135.1

–253.5

–185.6

:

:

:

:

2015Q2

2015Q3

2015Q4

2016Q1

2016Q2

mn euro

643

856

521

509

:

Inflation (Harmonized Index  
of Consumer Prices – All items) 

Industrial producer prices

M/M–1 %
M/M–12 %
M/M–1 % 
M/M–12 %

Unemployment 
rate 

 total (2)
age <25 year (2)
age >25 year (2)

%
%
%

Labour Cost Index 

Q/Q–1 % (1)

Employment

Industrial production

Production in construction

Retail trade deflated turnover

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 %

–0.2
–0.1
–0.2
–2

–0.5
0.9
–0.4
–3

0.1
0.4
–0.6
–2.6

–1.5
0.5
–2
–4.3

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
0.1
–0.6
–0.1
–5.2
2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
6.3
17.8
5.4

1.3
–0.3
–0.6
–5.2

6.5
17.9
5.5
2015Q2
0.7
2015Q2
0.7

2.5
1.3
–1.9
–2.5
–0.5
11.6
2015Q2

6.5
17.4
5.5
2015Q3
–0.5
2015Q3
0.7

1.7
3.3
3
0.2
5.6
26.3
2015Q3

6.5
17.4
5.6
2015Q4
0.1
2015Q4
0.7

–2.5
–0.9
–1.7
–3.2
–4.9
6.2
2015Q4

6.3
17.4
5.4
2016Q1
0.3
2016Q1
0.8

0.5
2.4
3.7
2.1
4.2
17.9
2016Q1

6.3
17.7
5.4
2016Q2
–0.2
2016Q2
:

0.9
1.4
5.6
16.5
1.3
18.5
2016Q2

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
–0.1
0.6
–7.2
–0.1
–0.6
12.9

2016M04
0.2
–0.6
–0.1
–5.3
2016M04
6.3
17.4
5.4

Q/Q–4 % (3)

Q/Q–4 %
2016M04
–3.2
–1.4
–1.1
0
1.9
17.6

:
:
:
:

0.5
–0.6
0.3
–5.2

0.4
–0.4
0.5
–4.6

1
–0.2
0
–7.1

6.2
17.2
5.3
2015Q3
0.3
2015Q3
2.6

6.2
17.3
5.3
2015Q2
1.6
2015Q2
2.5

2016M05 2016M06 2016M07 2016M08 2016M09
–1.3
–0.4
–3.9
–7.7
2016M05 2016M06 2016M07 2016M08 2016M09
6.2
17
5.3
2015Q4
0.3
2015Q4
2.7
2016M05 2016M06 2016M07 2016M08 2016M09
–0.9
2.5
4.1
1.7
–1.8
4.7

:
:
:
2016Q2
–1.1
2016Q2
:

6.2
16.9
5.4
2016Q1
1.2
2016Q1
2.9

–0.1
–3
0.3
1.1
0
13.8

4.3
3.7
0.3
3.6
1.2
13.9

:
:
:
:
3.6
12.6

:
:
:
:
:
:

General government deficit (–) 
/surplus (+)
General government gross debt

%

%

4.3

21.8

–0.7

21.5

1.5

21.5

–1.3

21.8

:

:

Economic sentiment indicator (2) 

index

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
102.9
2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

97.4

97.4

97.1

94.1

96.2

2016M04
108
2016M04
–

108.9

2016M05 2016M06 2016M07 2016M08 2016M09
101.5
102.3
107.2
2016M05 2016M06 2016M07 2016M08 2016M09
–

105.5

–

–

–

–

–

–

–

–

–

–

%

%

0.25

0.31

0.43

0.72

0.27

3–month interest rate
Long term government  
bond yields (**)
(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 
(**) 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
European Central Bank (ECB) for euro area only
ECB
ECB
ECB
Directorate General for Economic and Financial Affairs (DG ECFIN)

–0.05

0.42

0.34

0.33

0.17

0

:

52

  Eurostatistics — 10/2016 edition 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
Luxembourg

Graph 1: Output

Growth rate
9.0 

6.0 

3.0 

0.0 

– 3.0 

– 6.0 

Principal European Economic Indicators (PEEIs)

2

Graph 2: Demand

Growth rate
(PFC,I)

10.0 

5.0 

0.0 

– 5.0 

– 10.0 

– 15.0 

Index

115.0

110.0

105.0

100.0

95.0

90.0

Growth rate
(RT)

9 

6 

3 

0 

– 3

– 6

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

GDP (q/q-1)

Industrial Production (m/m-1)

Economic Sentiment Indicator

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

Graph 3: Labour

%
7.6 

7.2 

6.8 

6.4 

6.0 

Growth Rate
2.0

1.0

0.0

-1.0

-2.0

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Employment (q/q-1)

Labour cost index  (q/q-1)

Graph 4: Prices

Growth Rate

3.0 

2.0 

1.0 

0.0 

1.0 
– 1 0

– 2.0 

– 3.0 

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Unemployment rate Total (%)

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

Mio  EUR

600

500

400

300

200

100

0

-100

-200

-300

%
6.0

5.0

4.0

3.0

2.0

1.0

0.0

€/$

1.600

1.400

1.200

1.000

0.800

0.600

0.400

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

External trade balance  

BOP current account 

Long-term government bond yields - rates

Euro-dollar exchange rate

53

Eurostatistics — 10/2016 edition  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)

2015Q2
0.1

2015Q3
0.4

2015Q4
0.9

2016Q1
–0.5

2016Q2
1

Q/Q–4 %

2015Q2
2.7

2015Q3
2.4

2015Q4
3.2

2016Q1
1.1

2016Q2
2.6

0.8

5.8

0.8

0.3

1.4

1

1.6

–18

1.2

–0.9

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

Q/Q–4 %

2.7

2.7

3.4

4.8

5.1

Q/Q–4 %
2016M04

5

–20
6.5
2016M05 2016M06 2016M07 2016M08 2016M09

–7.8

–1.4

External trade balance 
(extra EU28) (2)

BOP Current account  
(all countries of the world)

–258.2

–318.8

–107.3

–259.3

–228.8

–188.9

–140.2

–211.5

–155.6

–129.8

:

:

2015Q2

2015Q3

2015Q4

2016Q1

2016Q2

mn euro

898.1

1298.7

825.3

1857.1

:

Inflation (Harmonized Index  
of Consumer Prices – All items) 

Industrial producer prices

M/M–1 %
M/M–12 %
M/M–1 % 
M/M–12 %

Unemployment 
rate 

 total (2)
age <25 year (2)
age >25 year (2)

%
%
%

Labour Cost Index 

Q/Q–1 % (1)

Employment

Industrial production

Production in construction

Retail trade deflated turnover

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 %

–0.1
1
–2.2
–3

0
0.6
–0.1
–3.1

0.3
0.2
–0.7
–3.7

–0.3
1
–0.5
–2.7

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
0.2
–0.2
0.5
–5.1
2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
5.6
14.2
4.9

–0.1
0.3
–2
–4.9

6.3
15.6
5.5
2015Q3
0.9
2015Q3
0.8

–1.5
6.6
4.7
–0.2
0.4
4.3
2015Q3

6.1
14.6
5.4
2015Q4
0.9
2015Q4
0.5

–0.6
6.8
2.2
8
0.4
4.5
2015Q4

5.9
14.2
5.2
2016Q1
1.1
2016Q1
0.9

0.2
2.5
–22.3
–21.1
0.2
2.2
2016Q1

5.7
13.9
5
2016Q2
0.4
2016Q2
0.5

–1.1
1.8
1.2
–20.7
1.4
6.6
2016Q2

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
–1.7
–3.1
–7.8
–35.4
–0.1
4.3

6.4
15.1
5.7
2015Q2
1.1
2015Q2
0.5

1.2
12.3
–8
–9.1
0.5
4.7
2015Q2

General government deficit (–) 
/surplus (+)
General government gross debt

%

%

–0.9

78.8

–1.8

78

–1.7

75.3

0.1

77.2

:

:

112.4

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
115.4
112.4
2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
1.19

115.6

111.7

113.2

1.35

1.19

1.34

1.32

1.25

2016M04
0.8
0.3
0
–4.8
2016M04
5.4
14.1
4.7

Q/Q–4 % (3)

Q/Q–4 %
2016M04
5.9
5
3.5
–30
0.9
6.7

2016M04
110.1
2016M04
1.18

:
:
:
:

–0.4
–0.1
–1
–3.3

0.2
–0.1
1.2
–4.1

0.3
–0.1
1.6
–4.8

5.1
13.1
4.4
2015Q3
4.6
2015Q3
2.6

5.2
13.6
4.5
2015Q2
3.1
2015Q2
2.5

2016M05 2016M06 2016M07 2016M08 2016M09
–0.2
–0.3
0
–3.6
2016M05 2016M06 2016M07 2016M08 2016M09
5.1
12.6
4.4
2015Q4
4
2015Q4
2.8
2016M05 2016M06 2016M07 2016M08 2016M09
–0.3
–0.2
–3.2
–17.6
–0.3
4

:
:
:
2016Q1
4.1
2016Q1
2.9

:
:
:
2016Q2
3
2016Q2
2.7

–2.4
–0.3
7.6
–16.2
0.4
5.6

–0.6
4.4
1.6
–25.8
0.1
5.7

:
:
:
:
0.3
4.4

:
:
:
:
:
:

108.5

2016M05 2016M06 2016M07 2016M08 2016M09
109.7
109.7
114.8
2016M05 2016M06 2016M07 2016M08 2016M09
:
0.89

109.4

0.75

0.93

0.98

3.28

3.34

3.47

3.36

3.36

3.13

3.02

3.35

3.31

2.88

2.83

:

311.27

312.27

314.4

314.68

310.37

311.15

311.46

314.58

313.98

314.35

310.21

308.68

Economic sentiment indicator (2) 

index

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

%

%

(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 — 10/2016 edition 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
Hungary

Graph 1: Output

Growth rate
9.0 

6.0 

3.0 

0.0 

– 3.0 

– 6.0 

Principal European Economic Indicators (PEEIs)

2

Graph 2: Demand

Index

125.0

120.0

115.0

Growth rate
(PFC,I)

5.0 

0.0 

– 5.0 

110.0

– 10.0 

105.0

– 15.0 

100.0

– 20.0 

Growth rate
(RT)

3 

2 

1 

0 

– 1

– 2

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

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

%
6.7 

6.3 

5.9 

5.5 

5.1 

Growth Rate
1.5

1.0

0.5

0.0

-0.5

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Employment (q/q-1)

Labour cost index  (q/q-1)

Graph 4: Prices

Growth Rate

3.0 

2.0 

1.0 

0.0 

1.0 
– 1 0

– 2.0 

– 3.0 

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Unemployment rate Total (%)

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

Mio  EUR

2000

1500

1000

500

0

-500

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

External trade balance  

BOP current account 

%
5.0

4.0

3.0

2.0

1.0

0.0

-1.0

Hungarian 
forin/€

320

305

290

275

260

245

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

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

55

Eurostatistics — 10/2016 edition  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)

2015Q2
2

2015Q3
1.1

2015Q4
1.6

2016Q1
0.1

2016Q2
0.2

Q/Q–4 %

2015Q2
6.3

2015Q3
6

2015Q4
6.3

2016Q1
5.3

2016Q2
3

1.8

40.2

2.9

3.3

0.9

–16.8

–0.1

–1.3

–1.4

15.4

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

Q/Q–4 %

3.5

7.3

7.1

5.8

2

Q/Q–4 %
2016M04

72.5

–2.1
24.6
2016M05 2016M06 2016M07 2016M08 2016M09

80.4

19.2

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

BOP Current account  
(all countries of the world))

mn euro

–48.5

–78.8

–72.7

–98

–426.2

–79.5

–266.5

–91.8

–102.8

97.6

–16.7

–45.9

–23

–69.5

–400.7

–54.7

–239.3

–64.7

–60

139.6

:

:

:

:

2015Q2

2015Q3

2015Q4

2016Q1

2016Q2

mn euro

9.3

80.3

33.8

39.9

:

Inflation (Harmonized Index  
of Consumer Prices – All items) 

Industrial producer prices

M/M–1 %
M/M–12 %
M/M–1 % 
M/M–12 %

Unemployment 
rate 

 total (2)
age <25 year (2)
age >25 year (2)

%
%
%

Labour Cost Index 

Q/Q–1 % (1)

Employment

Industrial production

Production in construction

Retail trade deflated turnover

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 %

–1.6
0.8
0.2
–3

–2.5
1.3
0.3
–3

–0.1
1.3
0.1
–2.9

–0.6
1.6
0
–3.3

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
1
1
0
–3.3
2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
4.8
9.3
4.1

0.6
1
–0.1
–3.3

5.2
11.2
4.2
2015Q3
1.1
2015Q3
–

–2.8
3
–
–
–0.9
1.8
2015Q3

5.1
10.4
4.2
2015Q4
0.5
2015Q4
–

–0.8
5.3
–
–
1.3
6
2015Q4

5.1
10.1
4.3
2016Q1
–1.7
2016Q1
–

–4.7
–8.4
–
–
–0.6
5.7
2016Q1

5
9.8
4.3
2016Q2
1.8
2016Q2
–

3
–2.8
–
–
1.5
11.6
2016Q2

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
–0.9
–4.3
–
–
–1.8
2.2

5.4
12.6
4.2
2015Q2
0.6
2015Q2
–

1.8
6.6
–
–
0.9
5.9
2015Q2

General government deficit (–) 
/surplus (+)
General government gross debt

%

%

–1.9

67.2

–0.6

66

4.2

63.8

–2.5

65.3

:

:

Economic sentiment indicator (2) 

index

3–month interest rate
Long term government  
bond yields 

%

%

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
106.3
116.1
2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

107.5

108.8

108.2

108

–

–

–

–

–

–

2016M04
2.6
0.8
–0.2
0.9
2016M04
4.9
9.4
4.1

Q/Q–4 % (3)

Q/Q–4 %
2016M04
1.3
–2.4
–
–
–0.4
–1.1

2016M04
109.2
2016M04
–

:
:
:
:

1
1
0
0.8

0.4
1
0
1

1.1
1
0
0.9

5
10.6
4.1
2015Q3
2.1
2015Q3
2.8

4.8
9.5
4.1
2015Q2
3.6
2015Q2
2.7

2016M05 2016M06 2016M07 2016M08 2016M09
–0.1
0.9
0
0.9
2016M05 2016M06 2016M07 2016M08 2016M09
4.9
10.8
4
2015Q4
2.4
2015Q4
3.4
2016M05 2016M06 2016M07 2016M08 2016M09
0.7
–3.9
–
–
–0.4
–2.7

:
:
:
2016Q2
1.5
2016Q2
2.8

4.8
10.8
3.9
2016Q1
0.2
2016Q1
2.4

–0.8
–6.6
–
–
0.2
–0.7

0
–3.9
–
–
0.2
–1.6

:
:
–
–
0.4
0.1

:
:
–
–
:
:

109.8

2016M05 2016M06 2016M07 2016M08 2016M09
114.1
110.5
105.6
2016M05 2016M06 2016M07 2016M08 2016M09
–

110.8

–

–

–

–

1.37

1.29

1.29

1.25

1.16

1.03

1

1.02

0.95

0.76

0.61

:

(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 
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)

56

  Eurostatistics — 10/2016 edition 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
Malta

Graph 1: Output

Growth rate
9.0 

6.0 

3.0 

0.0 

– 3.0 

– 6.0 

Principal European Economic Indicators (PEEIs)

2

Graph 2: Demand

Growth rate
(PFC,I)

30.0 

20.0 

10.0 

0.0 

Index

125.0

120.0

115.0

110.0

105.0

– 10.0 

100.0

– 20.0 

Growth rate
(RT)

3 

2 

1 

0 

– 1

– 2

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

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

%
5.8 

5.4 

5.0 

4.6 

4.2 

3.8 

Growth Rate
3.0

2.0

1.0

0.0

-1.0

-2.0

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Labour cost index  (q/q-1)

Employment (q/q-1)

Graph 4: Prices

Growth Rate

3.0 

2.0 

1.0 

0.0 

1.0 
– 1 0

– 2.0 

– 3.0 

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Unemployment rate Total (%)

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

Mio  EUR

200

100

0

-100

-200

-300

-400

-500

%
6.0

5.0

4.0

3.0

2.0

1.0

0.0

€/$

1.600

1.400

1.200

1.000

0.800

0.600

0.400

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

External trade balance  

BOP current account 

Long-term government bond yields - rates

Euro-dollar exchange rate

57

Eurostatistics — 10/2016 edition  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)

2015Q2
0

2015Q3
0.3

2015Q4
0.2

2016Q1
0.6

2016Q2
0.6

Q/Q–4 %

2015Q2
1.9

2015Q3
2

2015Q4
1.4

2016Q1
1.5

2016Q2
2.3

0.4

2.3

0.2

0.5

0.1

3.2

0.5

1.2

0.1

2.2

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

Q/Q–4 %

1.8

2

1.4

1.3

1.1

Q/Q–4 %
2016M04

12.1

7
2016M05 2016M06 2016M07 2016M08 2016M09

9.5

9.1

7.6

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

BOP Current account  
(all countries of the world))

mn euro

–6965.3

–6340 –6352.8 –5340.5 –5763.9 –5378.2

–5392.3 –5449.4 –5223.6 –4965.9

–10384.4 –10063.1 –9755.8 –8911.3 –9649.2 –8915.4

–8880.1 –8952.1 –9196.5 –8858.5

:

:

:

:

2015Q2

2015Q3

2015Q4

2016Q1

2016Q2

mn euro

15131

12356

11648

17021

:

Inflation (Harmonized Index  
of Consumer Prices – All items) 

Industrial producer prices

M/M–1 %
M/M–12 %
M/M–1 % 
M/M–12 %

Unemployment 
rate 

 total (2)
age <25 year (2)
age >25 year (2)

%
%
%

Labour Cost Index 

Q/Q–1 % (1)

Employment

Industrial production

Production in construction

Retail trade deflated turnover

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 %

–0.1
0.5
–2.4
–7.2

–1.5
0.2
–2.2
–5.9

0
0.4
–1.1
–8.4

–0.8
0.4
–0.5
–8

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
1.5
0.5
0.8
–9.5
2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
6.4
11.4
5.5

0.9
0.3
–1.5
–8.9

6.9
11.6
6
2015Q2
0.7
2015Q2
0.3

2.7
–2.1
–0.7
2.5
0.1
1.9
2015Q2

6.7
11.2
5.9
2015Q3
0.1
2015Q3
0.2

–0.2
–3.7
0.1
1.2
–0.1
0.6
2015Q3

6.6
11.2
5.8
2015Q4
0.4
2015Q4
0.4

–1.3
–7.5
2.3
15
1
1.9
2015Q4

6.5
11.2
5.6
2016Q1
0.7
2016Q1
0

2.6
–4.8
0.2
9.3
–0.9
0.2
2016Q1

6.5
11.3
5.6
2016Q2
–0.4
2016Q2
0.4

–1
–4.7
0
8
0.6
0.5
2016Q2

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
1.1
2
0.7
8.4
–0.7
0.2

General government deficit (–) 
/surplus (+)
General government gross debt

%

%

–4.4

67

–3.6

66.2

0.8

65.1

0.5

64.8

:

:

Economic sentiment indicator (2) 

index

3–month interest rate
Long term government  
bond yields 

%

%

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
103.6
2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

104.3

104.9

102.9

106.7

102

–

–

–

–

–

–

2016M04
0.1
–0.2
–0.4
–10.3
2016M04
6.4
11.2
5.5

Q/Q–4 % (3)

Q/Q–4 %
2016M04
2.2
5.5
0.3
8.8
–0.7
–1.1

2016M04
103.9
2016M04
–

2016M05 2016M06 2016M07 2016M08 2016M09

0.2
–0.2
1.8
–8.5

0.3
–0.6
–0.9
–6.8
2016M05 2016M06 2016M07 2016M08 2016M09

–0.5
–0.2
2.4
–6.4

0.2
0.1
–1.9
–6.6

:
:
:
:

6.3
11.1
5.4
2015Q2
1.5
2015Q2
0.8

6.1
10.8
5.3
2015Q3
1.1
2015Q3
1.2

6
10.8
5.2
2015Q4
0.1
2015Q4
1
2016M05 2016M06 2016M07 2016M08 2016M09

5.8
10.6
4.9
2016Q1
2.1
2016Q1
1.1

:
:
:
2016Q2
0.6
2016Q2
1.1

–5.5
1.6
–0.4
5
2.2
2.5

1.3
1.4
–0.1
2.6
–0.8
0

–2
–0.2
–0.3
0.6
1.1
2.3

4.4
4.7
:
:
:
:

:
:
:
:
:
:

105.9

2016M05 2016M06 2016M07 2016M08 2016M09
105.9
103.8
2016M05 2016M06 2016M07 2016M08 2016M09
–

102.3

104

–

–

–

–

0.73

0.72

0.75

0.65

0.37

0.32

0.4

0.38

0.25

0.06

0.03

:

(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)

58

  Eurostatistics — 10/2016 edition 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
Netherlands

Graph 1: Output

Growth rate
6.0 

3.0 

0.0 

– 3.0 

– 6.0 

– 9.0 

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 

Index

120.0

115.0

110.0

105.0

100.0

95.0

Growth rate
(RT)

3 

2 

1 

0 

– 1

– 2

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

GDP (q/q-1)

Industrial Production (m/m-1)

Economic Sentiment Indicator

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

Graph 3: Labour

%
7.2 

6.8 

6.4 

6.0 

5.6 

Growth Rate
1.0

0.5

0.0

-0.5

-1.0

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Employment (q/q-1)

Labour cost index  (q/q-1)

Graph 4: Prices

Growth Rate

4.0 

2.0 

0.0 

– 2.0 

– 4.0 

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Unemployment rate Total (%)

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

Mio  EUR

20000

15000

10000

5000

0

-5000

-10000

-15000

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

%
6.0

5.0

4.0

3.0

2.0

1.0

0.0

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

€/$

1.600

1.400

1.200

1.000

0.800

0.600

0.400

External trade balance  

BOP current account 

Long-term government bond yields - rates

Euro-dollar exchange rate

59

Eurostatistics — 10/2016 edition  2 Principal European Economic Indicators (PEEIs)

Detailed PEEIs analysis for Austria

Indicators

Unit

Reference Period

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

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

BOP Current account  
(all countries of the world))

Q/Q–1 % (1)

2015Q2
0.2

2015Q3
0.3

2015Q4
0.4

2016Q1
0.6

2016Q2
0.1

Q/Q–4 %

2015Q2
0.5

2015Q3
1.4

2015Q4
1.1

2016Q1
1.6

2016Q2
1.2

Q/Q–1 % (1)

–0.2

Q/Q–1 % (1)

1

0.2

–0.5

0.4

0.2

0.3

1.6

0.3

1.3

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

Q/Q–4 %

–0.3

0.1

0.6

1.2

1.3

Q/Q–4 %
2016M04

1.3

3.8
1.1
2016M05 2016M06 2016M07 2016M08 2016M09

1.6

0.8

mn euro

1232.9

1246.5

988.8

868.3

900.3

1358.1

1404

1162.2

1154.9

1083.1

756.2

764

631.2

473.3

512.6

932.6

1068.6

787.4

753.2

792.3

:

:

:

:

2015Q2

2015Q3

2015Q4

2016Q1

2016Q2

mn euro

957

1577

1923

5040

:

Inflation (Harmonized Index  
of Consumer Prices – All items) 

Industrial producer prices

M/M–1 %
M/M–12 %
M/M–1 % 
M/M–12 %

Unemployment 
rate 

 total (2)
age <25 year (2)
age >25 year (2)

%
%
%

Labour Cost Index 

Q/Q–1 % (1)

Employment

Industrial production

Production in construction

Retail trade deflated turnover

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 %

0
0.5
–0.3
–2.8

0.6
1.1
–0.4
–2.6

0.1
0.7
–0.4
–2.7

–1.1
1.4
–1
–2.9

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
1.1
0.7
0.2
–4
2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
5.9
10.4
5.2

–0.1
1
–1
–4.3

5.7
11.4
4.9
2015Q2
0.6
2015Q2
0.3

2
4.1
–2.7
–5.9
–0.3
2.3
2015Q2

5.9
11.4
5.1
2015Q3
–0.6
2015Q3
0.2

–0.9
3.8
5.3
1.1
–0.9
1
2015Q3

6
11.4
5.2
2015Q4
3.6
2015Q4
0.2

–1.3
–1.3
–0.9
0.2
1.2
1.5
2015Q4

6
11.9
5.2
2016Q1
–2.4
2016Q1
0.3

2.5
2.3
1.1
–3.4
–1.1
–0.4
2016Q1

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
2.4
3.2
0.8
1.9
–1
0.2

6.1
11.8
5.2
2016Q2
0
2016Q2
0.2

–1.9
–1.4
0.5
3.1
1.4
1
2016Q2

General government deficit (–) 
/surplus (+)
General government gross debt

%

%

–0.5

86.3

–0.3

86.3

0.1

86.2

–4.3

86.9

:

:

Economic sentiment indicator (2) 

index

97.1

98.5

101.6

101.3

96

96.4

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

–

–

–

–

–

–

2016M04
0.1
0.6
0.1
–3.8
2016M04
5.9
10.2
5.3

Q/Q–4 % (3)

Q/Q–4 %
2016M04
0.1
3.7
–2
0.1
0.8
0.9

2016M04
97.8
2016M04
–

:
:
:
:

0
0.6
0.5
–3

–0.2
0.6
0
–2.4

0.1
0.6
0.2
–3.5

6.1
11.3
5.4
2015Q3
0.7
2015Q3
0.6

6.1
11.1
5.4
2015Q2
1.7
2015Q2
0.6

2016M05 2016M06 2016M07 2016M08 2016M09
–0.5
0.6
0
–2.8
2016M05 2016M06 2016M07 2016M08 2016M09
6.1
11
5.4
2015Q4
5.3
2015Q4
0.8
2016M05 2016M06 2016M07 2016M08 2016M09
–0.6
–0.8
–0.6
0.1
0.2
0.4

:
:
:
2016Q2
0.6
2016Q2
1.1

6.2
10.8
5.6
2016Q1
1.1
2016Q1
1.2

–0.2
1.4
0
1
–0.5
0

–0.6
2.4
–0.4
1.6
0.3
2.1

:
:
:
:
0.9
2.3

:
:
:
:
:
:

99.3

2016M05 2016M06 2016M07 2016M08 2016M09
100.6
99.3
2016M05 2016M06 2016M07 2016M08 2016M09
–

99.3

99.8

–

–

–

–

0.83

0.82

0.86

0.77

0.53

0.46

0.38

0.37

0.33

0.16

0.11

:

3–month interest rate
Long term government  
bond yields 

%

%

(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)

60

  Eurostatistics — 10/2016 edition 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
Austria

Graph 1: Output

Growth rate
9.0 

6.0 

3.0 

0.0 

– 3.0 

– 6.0 

Principal European Economic Indicators (PEEIs)

2

Graph 2: Demand

Index

105.0

Growth rate
(PFC,I)

3.0 

100.0

95.0

90.0

2.0 

1.0 

0.0 

– 1.0 

85.0

– 2.0 

Growth rate
(RT)

3 

2 

1 

0 

– 1

– 2

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

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

%
6.4 

6.0 

5.6 

5.2 

4.8 

Growth Rate
4.0

2.0

0.0

-2.0

-4.0

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Employment (q/q-1)

Labour cost index  (q/q-1)

Graph 4: Prices

Growth Rate

3.0 

2.0 

1.0 

0.0 

1.0 
– 1 0

– 2.0 

– 3.0 

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Unemployment rate Total (%)

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

Mio  EUR

6000

5000

4000

3000

2000

1000

0

%
6.0

5.0

4.0

3.0

2.0

1.0

0.0

€/$

1.600

1.400

1.200

1.000

0.800

0.600

0.400

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

External trade balance  

BOP current account 

Long-term government bond yields - rates

Euro-dollar exchange rate

61

Eurostatistics — 10/2016 edition  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)

2015Q2
0.4

2015Q3
0.8

2015Q4
1.3

2016Q1
–0.1

2016Q2
0.9

Q/Q–4 %

2015Q2
3.1

2015Q3
3.3

2015Q4
4.3

2016Q1
2.5

2016Q2
3

0.7

0.1

0.7

0.2

0.6

–0.3

0.7

–1.9

0.6

–1.2

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

Q/Q–4 %

3.4

2.7

2.2

3

2.7

Q/Q–4 %
2016M04

5.5

–4.6
4.4
2016M05 2016M06 2016M07 2016M08 2016M09

–2.2

5.2

External trade balance 
(extra EU28) (2)

BOP Current account  
(All countries of the world)

–1030 –1285.1 –850.9

–1011 –1186.8 –989.9

–948.1

–566.8

–905.5

–724.8

:

:

2015Q2

2015Q3

2015Q4

2016Q1

2016Q2

mn euro

863

–2350

–475.7

296

:

Inflation (Harmonized Index  
of Consumer Prices – All items) 

Industrial producer prices

M/M–1 %
M/M–12 %
M/M–1 % 
M/M–12 %

Unemployment 
rate 

 total (2)
age <25 year (2)
age >25 year (2)

%
%
%

Labour Cost Index 

Q/Q–1 % (1)

Employment

Industrial production

Production in construction

Retail trade deflated turnover

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 %

–0.2
–0.3
–1.1
–1.5

–0.1
–0.5
0.1
–1.8

0.1
–0.6
0
–2.4

–0.2
–0.4
–0.2
–0.8

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
0.1
–0.4
0.4
–2.3
2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
6.4
18.3
5.3

0
–0.2
–0.5
–2.3

7.1
20.1
6
2015Q3
0.7
2015Q3
–

0.7
5.5
2.8
–1.9
1.3
7.9
2015Q3

6.9
19.9
5.8
2015Q4
0.8
2015Q4
–

0.7
4.4
–0.7
–2.4
0.9
7.3
2015Q4

6.7
19.1
5.6
2016Q1
1.4
2016Q1
–

–0.2
3.6
–3.2
–6.2
1.8
5.5
2016Q1

6.5
18.6
5.4
2016Q2
–0.4
2016Q2
–

0
2.9
–1.8
–10.6
–0.9
6.7
2016Q2

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
–0.7
0.5
–3.2
–14.9
–0.2
5.3

7.2
20.4
6.1
2015Q2
0
2015Q2
–

0.8
4.8
–1.6
–3.4
2.6
5.1
2015Q2

General government deficit (–) 
/surplus (+)
General government gross debt

%

%

–2.7

51

–1.3

51.8

–5.4

51.3

1.4

52

:

:

Economic sentiment indicator (2) 

index

98.7

99.6

98.6

99.4

99.6

99.8

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

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

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

%

%

1.73

2.66

1.73

2.73

1.72

2.96

1.71

3

1.69

3.03

1.67

2.89

Average

4.25

4.25

4.29

4.41

4.40

4.29

2016M04
0.3
–0.5
0.4
–1.8
2016M04
6.3
17.9
5.3

Q/Q–4 % (3)

Q/Q–4 %
2016M04
2.3
5.9
–1
–16
3.2
6

2016M04
101.4
2016M04
1.67

2.95

4.31

2016M05 2016M06 2016M07 2016M08 2016M09
–0.3
–0.6
–0.2
–0.8
2016M05 2016M06 2016M07 2016M08 2016M09

0.2
–0.4
1.1
–0.9

0.1
–0.4
0.4
–0.9

–0.2
–0.5
0
0.1

:
:
:
:

:
:
:
2016Q2
2.5
2016Q2
1.1

5.9
15.8
5
2016Q1
3.3
2016Q1
1.2

6.3
17.6
5.3
2015Q2
2.4
2015Q2
1.4

6.2
17.1
5.2
2015Q3
3.7
2015Q3
1.1

6
16.3
5.1
2015Q4
2.9
2015Q4
1.8
2016M05 2016M06 2016M07 2016M08 2016M09
–1.5
0.9
–0.6
–15.2
0.7
7.1

2.1
5.1
–5.5
–21.8
–0.6
10.8

0.4
3.8
–3.6
–14.7
–0.5
6.3

–1.1
3.2
–2.6
–13.9
0.3
6.7

:
:
:
:
:
:

99.8

2016M05 2016M06 2016M07 2016M08 2016M09
101.2
99.8
2016M05 2016M06 2016M07 2016M08 2016M09
1.71

99.2

99.7

1.67

1.69

1.71

:

3.04

3.11

2.89

2.71

:

4.40

4.40

4.40

4.30

4.32

(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)

62

  Eurostatistics — 10/2016 edition 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
Poland

Graph 1: Output

Growth rate
9.0 

6.0 

3.0 

0.0 

– 3.0 

– 6.0 

Principal European Economic Indicators (PEEIs)

2

Graph 2: Demand

Index

105.0

Growth rate
(PFC,I)

3.0 

100.0

95.0

90.0

2.0 

1.0 

0.0 

– 1.0 

85.0

– 2.0 

Growth rate
(RT)

6 

4 

2 

0 

– 2

– 4

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

GDP (q/q-1)

Industrial Production (m/m-1)

Economic Sentiment Indicator

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

Graph 3: Labour

%
7.4 

7.0 

6.6 

6.2 

5.8 

Growth Rate
3.0

2.0

1.0

0.0

-1.0

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Labour cost index  (q/q-1)

Unemployment rate Total (%)

Graph 4: Prices

Growth Rate

3.0 

2.0 

1.0 

0.0 

1.0 
– 1 0

– 2.0 

– 3.0 

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

Mio  EUR

400

200

0

-200

-400

-600

-800

-1000

-1200

-1400

%
5.0

4.0

3.0

2.0

1.0

0.0

-1.0

Polish Zloty/€

4.70

4.45

4.20

3.95

3.70

3.45

3.20

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

External trade balance  

BOP current account 

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

63

Eurostatistics — 10/2016 edition  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)

2015Q2
0.3

2015Q3
0.1

2015Q4
0.3

2016Q1
0.2

2016Q2
0.3

Q/Q–4 %

2015Q2
1.5

2015Q3
1.7

2015Q4
1.6

2016Q1
1

2016Q2
1.1

0.8

0.1

0.1

–1.9

0

0.6

1.6

–1.3

–0.1

–0.3

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

Q/Q–4 %

3.3

2.1

1.7

2.7

1.5

Q/Q–4 %
2016M04

4.6

–2.7
1.5
2016M05 2016M06 2016M07 2016M08 2016M09

–3.4

3

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

BOP Current account  
(all countries of the world)

mn euro

74.3

–1.9

15.1

10.3

–33.3

–44.1

106.5

23.5

–42.1

67

–31.9

–122.7

–97.7

–122.1

–116.3

–170.1

–2.5

–69.8

–125.4

–38.6

:

:

:

:

2015Q2

2015Q3

2015Q4

2016Q1

2016Q2

mn euro

–882

1771

167

–305

:

Inflation (Harmonized Index  
of Consumer Prices – All items) 

Industrial producer prices

M/M–1 %
M/M–12 %
M/M–1 % 
M/M–12 %

Unemployment 
rate 

 total (2)
age <25 year (2)
age >25 year (2)

%
%
%

Labour Cost Index 

Q/Q–1 % (1)

Employment

Industrial production

Production in construction

Retail trade deflated turnover

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 %

–1.1
0.7
–0.5
–2.4

–0.4
0.6
–0.3
–3.5

–0.1
0.7
–0.5
–3.9

–0.3
0.3
–1.2
–2.7

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
2.2
0.5
–0.2
–3.9
2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
12
31
10.5

–0.5
0.2
0.4
–2.9

12.4
32.1
10.8
2015Q2
0.2
2015Q2
0.7

4
4.7
–0.7
–4
0.7
3.6
2015Q2

12.2
32
10.7
2015Q3
–1
2015Q3
–0.1

–3.7
0.9
–0.4
–4.3
–1.9
0.8
2015Q3

12.2
30.2
10.8
2015Q4
0.5
2015Q4
0.3

–1.6
0.7
–0.8
–5
–1.3
–0.5
2015Q4

12.1
29.8
10.7
2016Q1
1.3
2016Q1
0.2

0.8
0.3
0
–5.6
4.8
0.2
2016Q1

12.1
30
10.8
2016Q2
0.6
2016Q2
0.4

0.8
2.1
0.9
–3.2
4.3
4.9
2016Q2

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
–1.2
0.3
–0.9
–6.5
–5.2
2.4

General government deficit (–) 
/surplus (+)
General government gross debt

%

%

–3.9

–1.2

128.4

130.2

–7.1

129

–3.2

128.9

:

:

Economic sentiment indicator (2) 

index

3–month interest rate
Long term government  
bond yields 

%

%

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
104.5
106.9
2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

106.8

105.3

105.3

106

–

–

–

–

–

–

2016M04
0.4
0.5
–0.3
–4.3
2016M04
11.6
29.6
10.2

Q/Q–4 % (3)

Q/Q–4 %
2016M04
5.9
3.4
1.3
–2.9
1.5
3.2

2016M04
107.3
2016M04
–

:
:
:
:

0.2
0.7
1.3
–3.3

0.4
0.4
0.3
–4.6

0
0.8
–0.4
–2.9

11.2
28.1
9.9
2015Q2
2
2015Q2
1.9

11.1
26.8
9.9
2015Q3
–1
2015Q3
0.4

2016M05 2016M06 2016M07 2016M08 2016M09
–0.6
0.7
–0.5
–3.4
2016M05 2016M06 2016M07 2016M08 2016M09
10.9
27.2
9.6
2015Q4
2.2
2015Q4
1.8
2016M05 2016M06 2016M07 2016M08 2016M09
–0.9
–1.5
0.8
–3.4
1.4
3.9

11
27.9
9.7
2016Q1
0.7
2016Q1
1.1

:
:
:
2016Q2
2.5
2016Q2
0.8

–3.8
–2
–1.3
–4.2
–2.9
0.1

1.9
1.3
–0.9
–4.3
3.6
3.6

0.5
1.7
:
:
0.2
2.7

:
:
:
:
:
:

106.1

2016M05 2016M06 2016M07 2016M08 2016M09
106.4
106
105.2
2016M05 2016M06 2016M07 2016M08 2016M09
–

105.8

–

–

–

–

2.41

2.57

2.49

2.71

3.23

2.84

3.13

3.15

3.2

3.06

2.91

:

(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)

64

  Eurostatistics — 10/2016 edition 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
Portugal

Graph 1: Output

Growth rate
9.0 

6.0 

3.0 

0.0 

– 3.0 

– 6.0 

Principal European Economic Indicators (PEEIs)

2

Graph 2: Demand

Growth rate
(PFC,I)

4.0 

2.0 

0.0 

– 2.0 

– 4.0 

– 6.0 

Index

115.0

110.0

105.0

100.0

95.0

90.0

Growth rate
(RT)

6 

3 

0 

– 3

– 6

– 9

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

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

%
12.5 

12.0 

11.5 

11.0 

10.5 

Growth Rate
2.0

1.0

0.0

-1.0

-2.0

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Employment (q/q-1)

Labour cost index  (q/q-1)

Graph 4: Prices

Growth Rate

3.0 

2.0 

1.0 

0.0 

1.0 
– 1 0

– 2.0 

– 3.0 

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Unemployment rate Total (%)

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

Mio  EUR

200

100

0

-100

-200

-300

-400

%
6.0

5.0

4.0

3.0

2.0

1.0

0.0

€/$

1.600

1.400

1.200

1.000

0.800

0.600

0.400

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

External trade balance  

BOP current account 

Long-term government bond yields - rates

Euro-dollar exchange rate

65

Eurostatistics — 10/2016 edition  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)

2015Q2
–0.1

2015Q3
1.6

2015Q4
1.2

2016Q1
1.5

2016Q2
1.5

Q/Q–4 %

2015Q2
3.4

2015Q3
3.6

2015Q4
3.8

2016Q1
4.3

2016Q2
6

1.7

–1

2

–1.1

2.3

7.2

3.1

–2.4

3

6.6

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

Q/Q–4 %

5.4

6.4

7.3

9.5

10.8

Q/Q–4 %
2016M04

7.6

10.7
17.6
2016M05 2016M06 2016M07 2016M08 2016M09

2.3

2.1

External trade balance 
(extra EU28) (2)

BOP Current account  
(all countries of the world)

–69.1

31.1

17.7

–25.9

–47.2

–127.6

–76.6

–115.3

–43.5

–138.9

:

:

2015Q2

2015Q3

2015Q4

2016Q1

2016Q2

mn euro

–897.6

–541

–919.4 –1193.3

:

Inflation (Harmonized Index  
of Consumer Prices – All items) 

Industrial producer prices

M/M–1 %
M/M–12 %
M/M–1 % 
M/M–12 %

Unemployment 
rate 

 total (2)
age <25 year (2)
age >25 year (2)

%
%
%

Labour Cost Index 

Q/Q–1 % (1)

Employment

Industrial production

Production in construction

Retail trade deflated turnover

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 %

0.3
–0.9
0
–2.3

–0.6
–1.5
–0.7
–2.4

0.3
–1.4
–0.1
–2.5

0.2
–0.7
–0.3
–1.7

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
0.2
–2.4
0.1
–3.8
2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
6.4
21
5.3

–0.3
–2.1
–1
–3.6

6.6
20.9
5.5
2015Q3
1
2015Q3
–

–0.1
2.5
3.3
9.8
2.4
14.6
2015Q3

6.7
20.9
5.6
2015Q4
6.1
2015Q4
–

–0.3
1.6
5.8
13.9
0.7
14.5
2015Q4

6.5
21
5.4
2016Q1
0.7
2016Q1
–

–2
–1.5
–9.7
0.4
2.4
15.7
2016Q1

6.4
21
5.3
2016Q2
3.9
2016Q2
–

0.8
–0.9
2.7
4.4
0.5
19
2016Q2

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
0.8
–2
–1
–4.7
1.4
18.6

6.6
20.9
5.5
2015Q2
2
2015Q2
–

–0.3
2.5
2.2
12
1.5
13.2
2015Q2

General government deficit (–) 
/surplus (+)
General government gross debt

%

%

0.4

37.9

0.4

37.1

–3.9

38.4

–3.1

37.6

:

:

104.6

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
105.4
102.8
2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
0.57

104.5

102.4

103.3

0.82

0.72

0.58

0.88

1.12

2016M04
0
–2.6
–0.2
–3.3
2016M04
6.1
20.4
5.1

Q/Q–4 % (3)

Q/Q–4 %
2016M04
2.1
4.3
5.3
12.6
1.1
20.4

2016M04
104
2016M04
0.56

:
:
:
:

0
0.3
–0.3
–2.2

–0.2
–0.7
0.6
–2.7

0.3
–3
0.1
–3.2

6.2
20.4
5.2
2015Q2
7.6
2015Q2
–0.1

6
20.4
5
2015Q3
7.3
2015Q3
–1

2016M05 2016M06 2016M07 2016M08 2016M09
–0.2
–0.3
–0.3
–2.5
2016M05 2016M06 2016M07 2016M08 2016M09
6.1
:
5.1
2015Q4
11.4
2015Q4
–0.8
2016M05 2016M06 2016M07 2016M08 2016M09
0.6
1
0.7
2.9
–0.4
13.6

6
:
5
2016Q1
10.4
2016Q1
0.2

:
:
:
2016Q2
12
2016Q2
0.2

2.2
–1.3
–1.3
1.5
1.6
16

–4.2
–1.3
–2.6
8.5
–0.7
13.8

:
:
:
:
0.2
11.7

:
:
:
:
:
:

103.2

2016M05 2016M06 2016M07 2016M08 2016M09
103.6
103.5
103.6
2016M05 2016M06 2016M07 2016M08 2016M09
:
0.6

104.2

0.57

0.55

0.58

3.47

3.49

3.62

3.6

3.33

3.34

3.49

3.43

3.48

3.14

2.93

:

Average

4.42

4.44

4.50

4.53

4.48

4.47

4.47

4.50

4.52

4.49

4.46

4.45

Economic sentiment indicator (2) 

index

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

%

%

(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)

66

  Eurostatistics — 10/2016 edition 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
Romania

Graph 1: Output

Growth rate
9.0 

6.0 

3.0 

0.0 

– 3.0 

– 6.0 

Principal European Economic Indicators (PEEIs)

2

Graph 2: Demand

Growth rate
(PFC,I)

9.0 

6.0 

3.0 

0.0 

– 3.0 

Index

115.0

110.0

105.0

100.0

95.0

90.0

Growth rate
(RT)

3 

2 

1 

0 

– 1

– 2

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

GDP (q/q-1)

Industrial Production (m/m-1)

Economic Sentiment Indicator

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

Graph 3: Labour

%
7.2 

6.8 

6.4 

6.0 

5.6 

Growth Rate
9.0

6.0

3.0

0.0

-3.0

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Labour cost index  (q/q-1)

Unemployment rate Total (%)

Graph 4: Prices

Growth Rate

3.0 

2.0 

1.0 

0.0 

1.0 
– 1 0

– 2.0 

– 3.0 

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

Mio  EUR

200

0

-200

-400

-600

-800
800

-1000

-1200

-1400

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

External trade balance  

BOP current account 

%
5.0

4.0

3.0

2.0

1.0

0.0

-1.0

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

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

Romenian 
Leu/€
4.70

4.60

4.50

4.40

4.30

4.20

4.10

67

Eurostatistics — 10/2016 edition  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)

2015Q2
0.6

2015Q3
0.3

2015Q4
0.6

2016Q1
0.5

2016Q2
0.5

Q/Q–4 %

2015Q2
2

2015Q3
2

2015Q4
2.8

2016Q1
2.3

2016Q2
2.7

–0.1

–1.3

0.9

–0.4

0.1

0.4

0.5

–6

1

2.6

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

Q/Q–4 %

–0.3

1.1

0.6

1.2

2.6

Q/Q–4 %
2016M04

0.6

–3.6
5.4
2016M05 2016M06 2016M07 2016M08 2016M09

–7.8

–0.2

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

BOP Current account  
(all countries of the world)

mn euro

95.5

134.4

117.5

160.3

86.1

92

138.3

172

124.3

75.6

–98.3

–86.7

–73

–28.6

–101.1

–115.7

–58

–28.6

–67.5

–126.7

:

:

:

:

2015Q2

2015Q3

2015Q4

2016Q1

2016Q2

mn euro

461.9

641.2

459.9

731.9

:

Inflation (Harmonized Index  
of Consumer Prices – All items) 

Industrial producer prices

M/M–1 %
M/M–12 %
M/M–1 % 
M/M–12 %

Unemployment 
rate 

 total (2)
age <25 year (2)
age >25 year (2)

%
%
%

Labour Cost Index 

Q/Q–1 % (1)

Employment

Industrial production

Production in construction

Retail trade deflated turnover

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 %

0.1
–0.9
–0.4
–1.3

–1.3
–0.8
–0.1
–1.5

0
–1.2
0
–0.9

–0.4
–0.6
–0.1
–1.4

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
0.8
–0.9
–0.3
–1.9
2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
8.3
16
7.7

0
–0.9
–0.4
–1.4

8.3
16.8
7.7
2015Q3
–1
2015Q3
0.3

0.5
4.6
14.6
7
0.5
1.2
2015Q3

8.3
16.8
7.7
2015Q4
1.5
2015Q4
0.4

–1
2.4
–23.1
–22.2
–0.2
0.9
2015Q4

8.3
16
7.7
2016Q1
0.7
2016Q1
0.6

4
6.1
–0.9
–25.9
1.2
1.9
2016Q1

8.3
16
7.7
2016Q2
0
2016Q2
0.6

0.4
6.4
–1.1
–29.7
–1.1
–1.3
2016Q2

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
–0.4
4.9
–7.6
–36
0.4
0.4

8.5
16.8
7.9
2015Q2
–0.2
2015Q2
0.3

–0.5
3.8
–3
–11.6
–0.8
0.5
2015Q2

General government deficit (–) 
/surplus (+)
General government gross debt

%

%

–2.8

81

–1.1

84.4

–4

83.2

–3.4

83.6

:

:

Economic sentiment indicator (2) 

index

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
104.7
110.4
2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

105.3

109.1

109.4

105

–

–

–

–

–

2016M04
0.3
–0.7
–0.1
–2
2016M04
8
14.8
7.5

Q/Q–4 % (3)

Q/Q–4 %
2016M04
0.5
5.6
10.7
–27.4
1.1
1.8

2016M04
107.4
2016M04
–

:
:
:
:

0.5
0.1
0.1
–1.8

–0.1
–0.2
0
–1.6

0.8
–0.5
0.2
–1.9

8
14.8
7.5
2015Q2
2
2015Q2
1.2

8
14.8
7.5
2015Q3
–1.6
2015Q3
1.1

2016M05 2016M06 2016M07 2016M08 2016M09
–0.9
–0.1
0
–1.7
2016M05 2016M06 2016M07 2016M08 2016M09
7.8
:
7.4
2015Q4
1
2015Q4
1.1
2016M05 2016M06 2016M07 2016M08 2016M09
1.2
7.4
2
–7.4
0.9
3.4

7.8
:
7.4
2016Q1
0.8
2016Q1
1.6

:
:
:
2016Q2
1.8
2016Q2
2

0.7
5.2
4.5
–19.5
–0.3
0.3

0.5
6.2
5.9
–12.5
0.7
1.9

:
:
:
:
0.8
4.8

:
:
:
:
:
:

2016M05 2016M06 2016M07 2016M08 2016M09
107.3
106.7
104.8
2016M05 2016M06 2016M07 2016M08 2016M09
–

108.3

105

–

–

–

–

1.66

1.61

1.61

1.59

1.48

1.37

1.41

1.36

0.95

0.8

:

3–month interest rate
Long term government  
bond yields 

%

%

–

1.8

(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)

68

  Eurostatistics — 10/2016 edition 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
Slovenia

Graph 1: Output

Growth rate
9.0 

6.0 

3.0 

0.0 

– 3.0 

– 6.0 

Principal European Economic Indicators (PEEIs)

2

Graph 2: Demand

Index

115.0

Growth rate
(PFC,I)

6.0 

110.0

105.0

100.0

3.0 

0.0 

– 3.0 

– 6.0 

95.0

– 9.0 

Growth rate
(RT)

3 

2 

1 

0 

– 1

– 2

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

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

%
9.3 

8.9 

8.5 

8.1 

7.7 

Growth Rate
2.0

1.0

0.0

-1.0

-2.0

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Employment (q/q-1)

Labour cost index  (q/q-1)

Graph 4: Prices

Growth Rate

3.0 

2.0 

1.0 

0.0 

1.0 
– 1 0

– 2.0 

– 3.0 

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Unemployment rate Total (%)

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

Mio  EUR

800
700
600
500
400
300
200
100
0
-100
-200

%
6.0

5.0

4.0

3.0

2.0

1.0

0.0

€/$

1.600

1.400

1.200

1.000

0.800

0.600

0.400

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

External trade balance  

BOP current account 

Long-term government bond yields - rates

Euro-dollar exchange rate

69

Eurostatistics — 10/2016 edition  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)

2015Q2
0.9

2015Q3
1

2015Q4
1

2016Q1
0.8

2016Q2
0.9

Q/Q–4 %

2015Q2
3.4

2015Q3
3.7

2015Q4
4.3

2016Q1
3.4

2016Q2
3.7

0.7

3.5

0.8

4.5

0.7

2.6

0.6

–7.1

0.8

0.9

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

Q/Q–4 %

2.3

2.8

2.8

2.5

3

Q/Q–4 %
2016M04

9.5

0
19.4
2016M05 2016M06 2016M07 2016M08 2016M09

17.3

1.5

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

BOP Current account  
(all countries of the world)

mn euro

–105.7

–39.8

–145.5

–67.4

–56.8

–70.2

–89.5

–69

–53.8

–150.1

–369.1

–273.1

–388.8

–311.8

–288.1

–252.9

–254.4

–306.3

–324.6

–327.1

:

:

:

:

2015Q2

2015Q3

2015Q4

2016Q1

2016Q2

mn euro

–332.8

–785.5

–226.9

–149.3

:

Inflation (Harmonized Index  
of Consumer Prices – All items) 

Industrial producer prices

M/M–1 %
M/M–12 %
M/M–1 % 
M/M–12 %

Unemployment 
rate 

 total (2)
age <25 year (2)
age >25 year (2)

%
%
%

Labour Cost Index 

Q/Q–1 % (2)

Employment

Industrial production

Production in construction

Retail trade deflated turnover

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 %

–0.3
–0.6
–1.3
–5.3

0
–0.4
0.2
–5.2

0.1
–0.5
0
–5.1

–0.4
–0.5
–0.3
–4.6

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
0
–0.5
–0.7
–6.2
2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
10
23.3
9

0.1
–0.3
–1.7
–4.8

10.9
25.8
9.7
2015Q3
–0.1
2015Q3
0.5

2.9
8.3
–7
15.6
0.3
3.2
2015Q3

10.6
25.3
9.5
2015Q4
2
2015Q4
0.5

0.1
5.9
4.9
25.7
0.3
2.7
2015Q4

10.4
24.6
9.2
2016Q1
0.2
2016Q1
0.6

–1.6
1.9
–7.4
16.2
–1.1
0.5
2016Q1

10.2
24.1
9.1
2016Q2
–0.7
2016Q2
0.6

2.8
7.1
1.3
18.7
0.1
0.5
2016Q2

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
–2.7
–2
–5.6
–0.4
0.9
2

11.1
26.3
9.9
2015Q2
1.6
2015Q2
0.6

–1.2
1.2
1.7
28.9
0.1
1.9
2015Q2

General government deficit (–) 
/surplus (+)
General government gross debt

%

%

–2.4

54.7

–1.6

53.9

–5.2

52.9

–1.9

52.2

:

:

Economic sentiment indicator (1) 

index

3–month interest rate
Long term government  
bond yields 

%

%

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
102.8
2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

102.5

102.6

96.3

96.8

104

–

–

–

–

–

–

2016M04
0.4
–0.4
–0.1
–5.8
2016M04
10
22.5
9

Q/Q–4 % (3)

Q/Q–4 %
2016M04
3.6
7.6
–1.6
–4
0.5
3.7

2016M04
99.6
2016M04
–

:
:
:
:

0.1
–0.7
0.4
–4.6

–0.1
–0.8
–0.5
–4.9

–0.1
–0.7
0.3
–5.9

9.7
20.9
8.9
2015Q3
3.1
2015Q3
2.2

9.9
21.7
9
2015Q2
3
2015Q2
2

2016M05 2016M06 2016M07 2016M08 2016M09
–0.4
–0.9
0.1
–4.7
2016M05 2016M06 2016M07 2016M08 2016M09
9.6
20
8.8
2015Q4
5.4
2015Q4
2
2016M05 2016M06 2016M07 2016M08 2016M09
–15.9
–14.3
–11
–23.3
–1.1
–0.6

:
:
:
2016Q2
1.2
2016Q2
2.3

9.5
19.3
8.8
2016Q1
4
2016Q1
2.2

–1.3
2.3
1.4
–8.5
–0.2
2.6

0.1
9.6
–2.3
–9.1
0.4
4

:
:
:
:
1
1.9

:
:
:
:
:
:

98

2016M05 2016M06 2016M07 2016M08 2016M09
103.4
103.9
2016M05 2016M06 2016M07 2016M08 2016M09
–

99.9

98.6

–

–

–

–

0.75

0.71

0.72

0.71

0.56

0.43

0.38

0.41

0.77

0.49

0.3

:

(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 
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)

70

  Eurostatistics — 10/2016 edition 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
Slovakia

Graph 1: Output

Growth rate
20.0 

10.0 

0.0 

– 10.0 

– 20.0 

Principal European Economic Indicators (PEEIs)

2

Graph 2: Demand

Index

105.0

Growth rate
(PFC,I)

6.0 

100.0

95.0

90.0

3.0 

0.0 

– 3.0 

– 6.0 

85.0

– 9.0 

Growth rate
(RT)

3 

2 

1 

0 

– 1

– 2

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

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

%
11.5 

11.0 

10.5 

10.0 

9.5 

9.0 

Growth Rate
3.0

2.0

1.0

0.0

-1.0

-2.0

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Employment (q/q-1)

Labour cost index  (q/q-1)

Graph 4: Prices

Growth Rate

3.0 

2.0 

1.0 

0.0 

1.0 
– 1 0

– 2.0 

– 3.0 

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Unemployment rate Total (%)

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

Mio  EUR

0

-50

-100

-150

-200

-250

-300

-350

-400

-450

%
6.0

5.0

4.0

3.0

2.0

1.0

0.0

€/$

1.600

1.400

1.200

1.000

0.800

0.600

0.400

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

External trade balance  

BOP current account 

Long-term government bond yields - rates

Euro-dollar exchange rate

71

Eurostatistics — 10/2016 edition  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)

2015Q2
0.7

2015Q3
–0.3

2015Q4
0.4

2016Q1
0.3

2016Q2
0

Q/Q–4 %

2015Q2
0.6

2015Q3
–0.1

2015Q4
0.7

2016Q1
0.8

2016Q2
1.1

–0.1

–1.3

0.8

0.2

0.3

1.5

0.4

1

0.9

3.6

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

Q/Q–4 %

1.2

1.3

2

1.5

2.5

Q/Q–4 %
2016M04

0.7

7.1
1.8
2016M05 2016M06 2016M07 2016M08 2016M09

–0.8

1

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

BOP Current account  
(all countries of the world)

mn euro

300.2

244.6

283.7

107.1

236.8

267.8

205.3

184.4

179.8

173.7

505.8

617.5

641.5

534.2

557.7

641.1

485.2

513.5

580.5

530.8

:

:

:

:

2015Q2

2015Q3

2015Q4

2016Q1

2016Q2

mn euro

–767.7

990.6

321.4

–174.8

:

Inflation (Harmonized Index  
of Consumer Prices – All items) 

Industrial producer prices

M/M–1 %
M/M–12 %
M/M–1 % 
M/M–12 %

Unemployment 
rate 

 total (2)
age <25 year (2)
age >25 year (2)

%
%
%

Labour Cost Index 

Q/Q–1 % (1)

Employment

Industrial production

Production in construction

Retail trade deflated turnover

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 %

0.2
–0.3
–0.1
–3

–0.5
0
–0.3
–1.5

0
–0.2
–0.1
–2.7

–0.2
–0.2
–1
–2.4

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
0.5
0
0.3
–3.6
2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
9.1
21.3
7.4

0.2
–0.1
–0.9
–3.5

9.4
21.7
7.7
2015Q2
1.1
2015Q2
–0.1

–0.7
–1.5
0.9
5.9
0.6
–0.4
2015Q2

9.4
21.7
7.7
2015Q3
–1.1
2015Q3
0.1

0.4
–0.5
1.2
6.5
1.3
3
2015Q3

9.3
21.7
7.6
2015Q4
0
2015Q4
0.1

1.2
2.1
–2.1
3.2
–0.6
1.9
2015Q4

9.2
21.6
7.6
2016Q1
1
2016Q1
0.3

–1.8
–1.6
1.7
6
0.2
1.8
2016Q1

9.1
21.4
7.5
2016Q2
–1.3
2016Q2
0

2.1
3.1
3.1
8.1
0.1
0.3
2016Q2

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
–2.1
–3
–0.8
3
0.4
0.4

General government deficit (–) 
/surplus (+)
General government gross debt

%

%

2.8

62

–2.1

60.6

–8.2

62.6

–1.4

63.6

:

:

Economic sentiment indicator (2) 

index

97.7

97.7

96.7

99.1

95.3

97.6

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

–

–

–

–

–

–

2016M04
0.3
0.3
0.1
–3.7
2016M04
9
21.1
7.4

Q/Q–4 % (3)

Q/Q–4 %
2016M04
2.4
1.9
2.1
7.4
–0.9
0

2016M04
97.2
2016M04
–

:
:
:
:

–0.1
0.3
0.5
–3

0
0.5
0.1
–1.9

0.1
0.3
0.4
–2.4

8.9
20.8
7.3
2015Q3
0.8
2015Q3
–0.3

9
20.9
7.4
2015Q2
1.8
2015Q2
–1

2016M05 2016M06 2016M07 2016M08 2016M09
–0.1
0.5
–0.2
–2.8
2016M05 2016M06 2016M07 2016M08 2016M09
8.9
20.6
7.3
2015Q4
0.9
2015Q4
–0.2
2016M05 2016M06 2016M07 2016M08 2016M09
1.2
6.8
:
:
0.6
1.9

:
:
:
2016Q2
–2
2016Q2
0.5

8.8
20.5
7.3
2016Q1
1.4
2016Q1
0.3

:
:
:
:
–0.6
1.3

1.4
3.9
–0.1
6.8
–0.6
1.3

0.2
2.1
1
7
1.6
2.1

:
:
:
:
:
:

96.8

2016M05 2016M06 2016M07 2016M08 2016M09
104.9
98.5
2016M05 2016M06 2016M07 2016M08 2016M09
–

101

98

–

–

–

–

0.81

0.81

0.86

0.78

0.53

0.53

0.46

0.45

0.33

0.12

0.06

:

3–month interest rate
Long term government  
bond yields 

%

%

(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)

72

  Eurostatistics — 10/2016 edition 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
Finland

Graph 1: Output

Growth rate
9.0 

6.0 

3.0 

0.0 

– 3.0 

– 6.0 

Principal European Economic Indicators (PEEIs)

2

Graph 2: Demand

Index

110.0

Growth rate
(PFC,I)

4.0 

105.0

100.0

95.0

3.0 

2.0 

1.0 

0.0 

90.0

– 1.0 

Growth rate
(RT)

3 

2 

1 

0 

– 1

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

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

%
9.8 

9.4 

9.0 

8.6 

8.2 

Growth Rate
2.0

1.0

0.0

-1.0

-2.0

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Employment (q/q-1)

Labour cost index  (q/q-1)

Graph 4: Prices

Growth Rate

3.0 

2.0 

1.0 

0.0 

1.0 
– 1 0

– 2.0 

– 3.0 

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Unemployment rate Total (%)

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

Mio  EUR

700
600
500
400
300
200
100
0
-100
-200
-300

%
6.0

5.0

4.0

3.0

2.0

1.0

0.0

€/$

1.600

1.400

1.200

1.000

0.800

0.600

0.400

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

External trade balance  

BOP current account 

Long-term government bond yields - rates

Euro-dollar exchange rate

73

Eurostatistics — 10/2016 edition  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)

2015Q2
1.3

2015Q3
1

2015Q4
1.5

2016Q1
0.4

2016Q2
0.5

Q/Q–4 %

2015Q2
4

2015Q3
4.1

2015Q4
5.2

2016Q1
3.7

2016Q2
4.4

0.6

1.6

0.7

0.8

0.8

3.3

0.7

1.7

0

1.8

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

Q/Q–4 %

1.9

2.8

3.3

2.9

2.5

Q/Q–4 %
2016M04

8

9
8.1
2016M05 2016M06 2016M07 2016M08 2016M09

7.2

6.1

External trade balance 
(extra EU28) (2)

BOP Current account  
(all countries of the world)

1133.2

1146.1

1559.8

1265.4

1176.2

1317.2

1419.8

1125.5

1137.8

1236.9

:

:

2015Q2

2015Q3

2015Q4

2016Q1

2016Q2

mn euro

4601.9

7275.7

6740

6889.9

:

Inflation (Harmonized Index  
of Consumer Prices – All items) 

Industrial producer prices

M/M–1 %
M/M–12 %
M/M–1 % 
M/M–12 %

Unemployment 
rate 

 total (2)
age <25 year (2)
age >25 year (2)

%
%
%

Labour Cost Index 

Q/Q–1 % (1)

Employment

Industrial production

Production in construction

Retail trade deflated turnover

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 %

0.1
0.9
0.7
–1.6

0.2
0.7
0.1
–1.9

–0.2
0.8
–0.2
–1.7

–0.6
1.3
–0.2
–1.6

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
0.5
1.2
0.5
–1.9
2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
7.2
19.4
5.5

0.3
0.8
–0.3
–2.4

7.2
19.7
5.4
2015Q2
0.9
2015Q2
0.1

0.1
6.6
2.5
15
1
7.9
2015Q2

6.8
17.5
5.3
2015Q3
0.7
2015Q3
0.5

0.3
7.5
0.8
14.5
0.8
8
2015Q3

7.2
19.6
5.5
2015Q4
1.1
2015Q4
0.7

–3.1
1.6
0.7
16.3
–2.3
5.7
2015Q4

7
19.6
5.2
2016Q1
0.5
2016Q1
0.5

2.4
6.6
2
18.6
0.9
3.2
2016Q1

7.1
19.4
5.3
2016Q2
0.2
2016Q2
0.6

0
5.7
–2.1
11.3
0.2
2.8
2016Q2

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
0.4
5.7
2.8
14.1
–0.4
1.2

General government deficit (–) 
/surplus (+)
General government gross debt

%

%

2.6

44.1

0.3

43.1

–2.6

43.2

0.5

42.2

:

:

107.5

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
108.4
107.7
2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
–0.47

–0.42

–0.37

109.8

112.2

108.9

–0.3

–0.3

–0.4

2016M04
0
1
–1
–2.5
2016M04
6.7
18.5
5.1

Q/Q–4 % (3)

Q/Q–4 %
2016M04
–0.2
3
0
11.9
0.4
1.6

2016M04
106.4
2016M04
–0.43

:
:
:
:

–0.1
1.2
0.4
0.7

0.2
0.8
–0.2
–2.4

0.1
1.2
1
–0.5

2016M05 2016M06 2016M07 2016M08 2016M09
0.1
1.1
0
0.1
2016M05 2016M06 2016M07 2016M08 2016M09
7.1
20.3
5.3
2015Q4
3.4
2015Q4
1.8
2016M05 2016M06 2016M07 2016M08 2016M09

7.2
20.1
5.3
2015Q2
2.8
2015Q2
1.3

:
:
:
2016Q2
2.5
2016Q2
2.3

7.2
19.7
5.5
2016Q1
3.3
2016Q1
1.7

6.6
17
5.2
2015Q3
2.6
2015Q3
1.1

–2.8
–1.9
1.5
13.1
2.7
5.2

–1.2
–2.9
0.9
16.5
–1.1
3.4

1
2.1
0
10
–0.7
1.2

–2.9
–6.2
:
:
0.3
2

:
:
:
:
:
:

105.8

2016M05 2016M06 2016M07 2016M08 2016M09
105.7
105.2
105.3
2016M05 2016M06 2016M07 2016M08 2016M09
–0.5
–0.55

–0.48

–0.56

–0.46

103.8

0.66

0.8

0.93

1.02

0.77

0.82

0.81

0.77

0.52

0.17

0.1

:

Average

9.35

9.31

9.25

9.28

9.41

9.28

9.20

9.29

9.33

9.47

9.49

9.56

Economic sentiment indicator (2) 

index

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

%

%

(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)

74

  Eurostatistics — 10/2016 edition 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
Sweden

Graph 1: Output

Growth rate
9.0 

6.0 

3.0 

0.0 

– 3.0 

– 6.0 

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 

Index

115.0

110.0

105.0

100.0

95.0

90.0

Growth rate
(RT)

6 

4 

2 

0 

– 2

– 4

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

GDP (q/q-1)

Industrial Production (m/m-1)

Economic Sentiment Indicator

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

Graph 3: Labour

%
7.8 

7.4 

7.0 

6.6 

6.2 

Growth Rate
1.5

1.0

0.5

0.0

-0.5

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Employment (q/q-1)

Labour cost index  (q/q-1)

Graph 4: Prices

Growth Rate

3.0 

2.0 

1.0 

0.0 

1.0 
– 1 0

– 2.0 

– 3.0 

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Unemployment rate Total (%)

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

Mio  EUR

8000

7000

6000

5000

4000

3000
3000

2000

1000

0

%
5.0

4.0

3.0

2.0

1.0

0.0

-1.0

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

External trade balance  

BOP current account 

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

Swedish 
Krona/€

10.50

10.00

9.50

9.00

8.50

8.00

7.50

75

Eurostatistics — 10/2016 edition  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)

2015Q2
0.5

2015Q3
0.3

2015Q4
0.7

2016Q1
0.4

2016Q2
0.7

Q/Q–4 %

2015Q2
2

2015Q3
1.7

2015Q4
1.8

2016Q1
2.3

2016Q2
0.6

0.7

0.9

0.9

0.9

0.4

–1.3

0.7

–0.1

0.9

1.6

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

Q/Q–4 %

2.5

2.4

2.9

2.9

3.1

Q/Q–4 %
2016M04

5.7

1.3
2016M05 2016M06 2016M07 2016M08 2016M09

–1.5

4.6

1.3

External trade balance 
(extra EU28) (2)

BOP Current account  
(all countries of the world)

–5546.9 –2928.5

–281.1

–3180.4 –4762.6 –8464.9

–10843

–7505.2 –8300.3 –8814.2

:

:

2015Q2

2015Q3

2015Q4

2016Q1

2016Q2

mn euro –25471.2–36959.6–42642.3–42448.4:

Inflation (Harmonized Index  
of Consumer Prices – All items) 

Industrial producer prices

M/M–1 %
M/M–12 %
M/M–1 % 
M/M–12 %

Unemployment 
rate (2)

 total
age <25 year 
age >25 year 

%
%
%

Labour Cost Index 

Q/Q–1 % (1)

Employment

Industrial production

Production in construction

Retail trade deflated turnover

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 %

General government deficit (–) 
/surplus (+)
General government gross debt

%

%

Economic sentiment indicator (2) 

index

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
0.4
0.5
1.4
–4.2
2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

0.1
–0.1
–0.3
–7.2

0
0.1
–0.6
–7.1

0.1
0.2
–1.2
–5.6

–0.8
0.3
–1.1
–4.1

0.2
0.3
0
–5

5
13.5
3.7
2015Q2
0.1
2015Q2
–

5
13.3
3.7
2015Q3
1.1
2015Q3
–

5
13.4
3.7
2015Q4
0.2
2015Q4
–

5.1
13.4
3.7
2016Q1
0.2
2016Q1
–

5
13.4
3.7
2016Q2
1
2016Q2
–

4.9
13.2
3.6

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

0.1
2.2
0.5
1.5
–0.5
4
2015Q2

–5.6

88.7

–0.8
0.4
–0.4
2.3
1.5
4.6
2015Q3

–4.4

88.2

–1
–0.4
3.2
4.2
–1.1
2.2
2015Q4

–5.8

89

0.8
0.6
–0.6
0
1.9
5.1
2016Q1

–0.1

87.7

–0.1
–1.1
0.2
4.8
–0.7
4.1
2016Q2

:

:

0.5
0.3
–2.5
–0.6
–0.2
3

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
108.2
2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

110.1

106.6

107.1

105

106

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

%

%

0.58

1.81

0.57

1.94

0.58

1.87

0.59

1.73

0.59

1.44

0.59

1.46

Average

0.73

0.70

0.72

0.75

0.78

0.78

2016M04
0.1
0.3
0.7
–3.7
2016M04
4.9
13.2
3.6

Q/Q–4 % (3)

Q/Q–4 %
2016M04
2.3
4.3
3.5
0.8
1.8
5.2

2016M04
104.4
2016M04
0.59

1.48

0.79

:
:
:
:

0.3
0.6
0
1.4

0.2
0.5
1.1
–2

0.2
0.3
0.8
–3.4

4.9
13.4
3.5
2015Q2
3.1
2015Q2
1.4

4.8
13.5
3.5
2015Q3
4
2015Q3
1.6

2016M05 2016M06 2016M07 2016M08 2016M09
–0.1
0.6
0.5
–0.8
2016M05 2016M06 2016M07 2016M08 2016M09
:
:
:
2015Q4
4.3
2015Q4
1.9
2016M05 2016M06 2016M07 2016M08 2016M09
0.1
2.3
–0.5
–4.5
1.8
6.4

:
:
:
2016Q1
0.2
2016Q1
1.3

:
:
:
2016Q2
2.5
2016Q2
2

–0.7
3.6
–2.3
2.2
1
6.1

0
1.1
–0.9
–0.5
–0.8
4

:
:
:
:
–0.3
6.3

:
:
:
:
:
:

2016M05 2016M06 2016M07 2016M08 2016M09
105.7
104.6
102.6
2016M05 2016M06 2016M07 2016M08 2016M09
0.51

0.59

0.41

0.57

0.38

107

104

1.43

1.18

0.79

0.59

:

0.78

0.79

0.84

0.85

0.85

(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 — 10/2016 edition 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
United Kingdom

Graph 1: Output

Growth rate
9.0 

6.0 

3.0 

0.0 

– 3.0 

– 6.0 

Principal European Economic Indicators (PEEIs)

2

Graph 2: Demand

Growth rate
(PFC,I)

3.0 

2.0 

1.0 

0.0 

– 1.0 

– 2.0 

Index

115.0

110.0

105.0

100.0

95.0

90.0

Growth rate
(RT)

3 

2 

1 

0 

– 1

– 2

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

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

%
5.6 

5.2 

4.8 

4.4 

4.0 

Growth Rate
1.5

1.0

0.5

0.0

-0.5

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Labour cost index  (q/q-1)

Unemployment rate Total (%)

Graph 4: Prices

Growth Rate

3.0 

2.0 

1.0 

0.0 

1.0 
– 1 0

– 2.0 

– 3.0 

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

Mio  EUR

0

-5000

-10000

-15000

-20000

-25000

-30000

-35000

-40000

-45000

%
4.0

3.0

2.0

1.0

0.0

-1.0

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

External trade balance  

BOP current account 

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

Pound 
Sterling/€
1.10

1.00

0.90

0.80

0.70

77

Eurostatistics — 10/2016 edition  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)

2015Q2
0.1

2015Q3
1.5

2015Q4
–1.3

2016Q1
1.0

2016Q2
0.0

Q/Q–4 %

2015Q2
2.3

2015Q3
2.6

2015Q4
0.2

2016Q1
0.6

2016Q2
2.5

0.8

–0.1

0.1

0.7

0.5

–0.6

0.5

–1.6

0.4

0.1

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

Q/Q–4 %

1.7

2.1

1.8

1.2

2.8

Q/Q–4 %
2016M04

–4.4

–1.2
–2.2
2016M05 2016M06 2016M07 2016M08 2016M09

–1.5

–4.4

External trade balance 
(rest of the world) 

BOP Current account  
(all countries of the world)

–

–

–

–

–

–

–

–

–

–

–

–

2015Q2

2015Q3

2015Q4

2016Q1

2016Q2

mn euro

8728.0

8021.9

5375.7

3773.2

3614.2

Inflation (Harmonized Index  
of Consumer Prices – All items) 

Industrial producer prices

M/M–1 %
M/M–12 %
M/M–1 % 
M/M–12 %

Unemployment 
rate 

 total (2)
age <25 year (2)
age >25 year (2)

%
%
%

Labour Cost Index 

Q/Q–1 % (1)

Employment

Industrial production

Production in construction

Retail trade deflated turnover

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 %

0.6
2.4
1.5
–5.0

–0.4
2.4
–2.7
–4.4

0.5
3.1
0.8
–1.2

0.4
2.7
1.1
–3.0

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
0.6
3.6
1.4
–4.0
2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
4.7
11.7
3.6

0.6
3.3
–2.5
–5.6

4.6
9.8
3.8
2015Q3
–
2015Q3
0.0

–0.2
–1.7
–
–
0.4
0.8
2015Q3

4.5
10.0
3.7
2015Q4
–
2015Q4
–0.2

–0.7
–2.0
–
–
–1.3
–1.2
2015Q4

4.7
11.1
3.7
2016Q1
–
2016Q1
–0.1

1.3
0.9
–
–
0.7
0.5
2016Q1

4.7
11.1
3.7
2016Q2
–
2016Q2
–0.1

0.4
–0.7
–
–
–0.6
–0.9
2016Q2

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
–0.2
–1.7
–
–
–0.6
–1.7

4.6
9.5
3.9
2015Q2
–
2015Q2
0.1

–3.9
–3.1
–
–
0.7
0.6
2015Q2

General government deficit (–) 
/surplus (+)
General government gross debt

%

%

8.6

29.3

4.8

30.9

2.7

31.8

7.2

32.8

:

:

Economic sentiment indicator (2) 

index

–

–

–

–

–

–

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
1.02

1.14

1.16

1.09

1.11

1.15

2016M04
0.3
3.5
1.0
–3.8
2016M04
4.6
11.6
3.6

Q/Q–4 %

Q/Q–4 %
2016M04
0.9
6.0
–
–
0.1
–4.3

2016M04
–
2016M04
0.98

:
:
:
:

0.7
4.1
2.0
1.3

–0.7
4.5
–1.1
2.0

0.4
3.7
1.7
–1.8

4.7
11.5
3.7
2015Q2
–
2015Q2
0.5

4.8
10.9
3.9
2015Q3
–
2015Q3
0.1

2016M05 2016M06 2016M07 2016M08 2016M09
0.7
5.0
–1.3
1.5
2016M05 2016M06 2016M07 2016M08 2016M09
5.0
11.1
4.1
2015Q4
–
2015Q4
–0.2
2016M05 2016M06 2016M07 2016M08 2016M09
5.4
0.5
–
–
–0.6
–1.4

:
:
:
2016Q2
–
2016Q2
–0.4

:
:
:
2016Q1
–
2016Q1
–0.1

–4.7
–5.8
–
–
–0.8
0.0

–0.2
1.6
–
–
1.8
2.0

:
:
–
–
0.4
–1.1

:
:
–
–
:
:

–

2016M05 2016M06 2016M07 2016M08 2016M09
–
2016M05 2016M06 2016M07 2016M08 2016M09
1.09
1.01

0.98

1.02

1.08

–

–

–

1.57

1.63

1.55

1.45

1.39

1.33

1.30

1.40

1.17

0.96

1.07

1.23

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

%

%

Average

9.29

9.26

9.46

9.59

9.56

9.43

9.32

9.30

9.33

9.37

9.30

9.20

(1)  sca: Seasonally and calendar adjusted data
(2)  sa: Seasonally adjusted data
(3)  ca: Calendar adjusted data, not seasonally adjusted data 
(4)  Source: OECD Main Economic Indicators database
(5)  Source: ECB
« : » 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)

78

  Eurostatistics — 10/2016 edition 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2

Graph 2: Demand

Growth rate
(PFC,I)

2.0 

1.0 

0.0 

– 1.0 

– 2.0 

– 3.0 

Growth rate
(RT)

3 

2 

1 

0 

– 1

– 2

6.0 

3.0 

0.0 

– 3.0 

– 6.0 

Norway

Graph 1: Output

Growth rate
9.0 

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

Detailed PEEIs analysis for Norway

Indicators

Unit

Reference Period

2015Q2

2015Q3

2015Q4

2016Q1

2016Q2

2015Q2

2015Q3

2015Q4

2016Q1

2016Q2

GDP (volume)

Private final consumption 

(volume)

Q/Q–1 % (1)

Q/Q–1 % (1)

0.1

0.8

Investment (GFCF) (volume)

Q/Q–1 % (1)

–0.1

1.5

0.1

0.7

–1.3

0.5

–0.6

1.0

0.5

–1.6

0.0

0.4

0.1

Q/Q–4 %

Q/Q–4 %

2.3

1.7

2.6

2.1

0.2

1.8

0.6

1.2

2.5

2.8

Q/Q–4 %

–4.4

–4.4

–2.2

–1.5

–1.2

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

2016M04

2016M05 2016M06 2016M07 2016M08 2016M09

–

–

–

–

–

–

–

–

–

–

–

–

2015Q2

2015Q3

2015Q4

2016Q1

2016Q2

mn euro

8728.0

8021.9

5375.7

3773.2

3614.2

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

2016M04

2016M05 2016M06 2016M07 2016M08 2016M09

Labour Cost Index 

Q/Q–1 % (1)

–

–

–

–

Q/Q–4 %

–

Employment

Q/Q–1 % (1)

0.1

–0.2

–0.1

–0.1

Q/Q–4 %

0.5

–0.2

–0.1

–0.4

2015Q2

2015Q3

2015Q4

2016Q1

2016Q2

2015Q2

2015Q3

2015Q4

2016Q1

2016Q2

2015Q2

2015Q3

2015Q4

2016Q1

2016Q2

2015Q2

2015Q3

2015Q4

2016Q1

2016Q2

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

2016M04

2016M05 2016M06 2016M07 2016M08 2016M09

0.3

3.5

1.0

4.6

11.6

3.6

0.9

6.0

–

–

0.1

–4.3

0.4

3.7

1.7

4.7

11.5

3.7

–0.2

1.6

–

–

1.8

2.0

0.7

4.1

2.0

1.3

4.8

10.9

3.9

–

0.1

–4.7

–5.8

–

–

–0.8

0.0

0.7

5.0

–1.3

1.5

5.0

11.1

4.1

–

5.4

0.5

–

–

–0.6

–1.4

–0.7

4.5

–1.1

2.0

:

:

:

–

:

:

–

–

0.4

–1.1

:

:

:

:

:

:

:

:

:

:

:

–

–

–

0.6

2.4

1.5

4.6

9.5

3.9

–3.9

–3.1

–

–

0.7

0.6

8.6

29.3

0.4

2.7

1.1

4.6

9.8

3.8

–

0.0

–0.2

–1.7

–

–

0.4

0.8

4.8

30.9

–0.4

2.4

–2.7

–4.4

4.5

10.0

3.7

–0.7

–2.0

–

–

–1.3

–1.2

2.7

31.8

0.5

3.1

0.8

–1.2

4.7

11.1

3.7

1.3

0.9

–

–

0.7

0.5

7.2

32.8

2015Q2

2015Q3

2015Q4

2016Q1

2016Q2

0.6

3.3

–2.5

–5.6

4.7

11.1

3.7

0.4

–0.7

–

–

–0.6

–0.9

:

:

–

0.6

3.6

1.4

–4.0

4.7

11.7

3.6

–0.2

–1.7

–

–

–0.6

–1.7

–

1.02

1.33

Economic sentiment indicator (2) 

index

–

–

–

–

–

–

–

–

–

–

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

2016M04

2016M05 2016M06 2016M07 2016M08 2016M09

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

2016M04

2016M05 2016M06 2016M07 2016M08 2016M09

1.11

1.57

1.15

1.63

1.14

1.55

1.16

1.45

1.09

1.39

0.98

1.30

0.98

1.40

1.02

1.17

1.01

0.96

1.08

1.07

1.09

1.23

Average

9.29

9.26

9.46

9.59

9.56

9.43

9.32

9.30

9.33

9.37

9.30

9.20

External trade balance 

(rest of the world) 

BOP Current account  

(all countries of the world)

Inflation (Harmonized Index  

of Consumer Prices – All items) 

Industrial producer prices

M/M–1 %

M/M–12 %

M/M–1 % 

M/M–12 %

Unemployment 

rate 

 total (2)

age <25 year (2)

age >25 year (2)

%

%

%

%

%

%

%

Industrial production

Production in construction

Retail trade deflated turnover

M/M–1 % (1)

M/M–12 % (3)

M/M–1 % (1)

M/M–12 %

M/M–1 % (1)

M/M–12 %

General government deficit (–) 

/surplus (+)

General government gross debt

3–month interest rate (4)

Long term government  

bond yields (4)

Norwegian Krone exchange 

rates against the euro (5)

(1)  sca: Seasonally and calendar adjusted data

(2)  sa: Seasonally adjusted data

(3)  ca: Calendar adjusted data, not seasonally adjusted data 

(4)  Source: OECD Main Economic Indicators database

(5)  Source: ECB

« : » not available data; « – » not existing data

Indicator 

Current account 

3 months Interest rate 

Long term government bond yields 

Euro-dollar exchange rate 

Economic Sentiment Indicator  

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.

European Central Bank (ECB) for euro area only

Source

ECB

ECB

ECB

Directorate General for Economic and Financial Affairs (DG ECFIN)

–5.0

–3.0

–3.8

–1.8

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

2016M04

2016M05 2016M06 2016M07 2016M08 2016M09

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

%
5.2 

4.8 

4.4 

4.0 

3.6 

Growth Rate
1.5

1.0

0.5

0.0

-0.5

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Employment (q/q-1)

Unemployment rate Total (%)

Graph 4: Prices

Growth Rate

3.0 

2.0 

1.0 

0.0 

1.0 
– 1 0

– 2.0 

– 3.0 

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

Mio  EUR

6000

5000

4000

3000

2000

1000

0

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

BOP current account 

%
5.0

4.0

3.0

2.0

1.0

0.0

-1.0

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

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

Norvegian 
Krone/€
9.80

9.40

9.00

8.60

8.20

7.80

79

Eurostatistics — 10/2016 edition   
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
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)

2015Q2
0.1

2015Q3
0.2

2015Q4
0.5

2016Q1
0.3

2016Q2
0.6

Q/Q–4 %

2015Q2
0.7

2015Q3
0.8

2015Q4
0.5

2016Q1
1.1

2016Q2
2.0

0.4

1.7

0.3

0.1

0.0

–0.1

0.5

2.2

0.0

–0.7

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

Q/Q–4 %

1.0

1.2

0.8

1.2

1.0

Q/Q–4 %
2016M04

2.9

1.5
0.1
2016M05 2016M06 2016M07 2016M08 2016M09

3.7

2.3

External trade balance 
(all countries of the world) 

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

–

–

–

–

–

–

–

–

–

–

–

–

2015Q2

2015Q3

2015Q4

2016Q1

2016Q2

mn euro

18852.0 21567.4 12917.3 8914.7 16095.9

Inflation (Harmonized Index  
of Consumer Prices – All items) 

Industrial producer prices

M/M–1 %
M/M–12 %
M/M–1 % 
M/M–12 %

Unemployment 
rate 

 total (2) (3) (4)
age <25 year
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

Q/Q–1 %

Retail trade deflated turnover

M/M–1 % (1)
M/M–12 %

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
0.4
–1.0
0.0
–3.6
2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

–0.1
–1.3
–0.3
–3.6

0.1
–1.1
0.3
–4.5

0.2
–0.9
–0.5
–3.5

–0.4
–1.2
0.3
–3.6

–0.7
–1.5
–0.1
–3.6

:
:
:
2015Q2
–
2015Q2
–0.2

:
:
:
2015Q3
–
2015Q3
–0.3

:
:
:
2015Q4
–
2015Q4
1.4

:
:
:
2016Q1
–
2016Q1
0.3

:
:
:
2016Q2
–
2016Q2
0.5

:
:
:

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

–
–
2015Q2
:

–
–
2015Q3
:

–
–
2015Q4
:

–
–
2016Q1
:

–
–
2016Q2
:

–
–

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
–0.2
–1.5

0.7
–1.8
2015Q4

–0.8
–0.5
2016Q1

–0.8
–1.0
2016Q2

–0.6
–1.4
2015Q3

0.3
–0.8
2015Q2

2016M04
0.2
–0.5
0.1
–1.9
2016M04
:
:
:

Q/Q–4 %

Q/Q–4 %
2016M04
–
–

Q/Q–4 %
2016M04
–0.2
–2.2

:
:
:
:

0.0
–0.6
0.1
–0.9

0.0
0.0
–0.2
–0.3

0.1
–0.5
0.1
–1.0

:
:
:
2015Q2
–
2015Q2
1.6

:
:
:
2015Q3
–
2015Q3
1.0

2016M05 2016M06 2016M07 2016M08 2016M09
–0.1
–0.5
–0.1
–0.7
2016M05 2016M06 2016M07 2016M08 2016M09
:
:
:
2015Q4
–
2015Q4
0.3
2016M05 2016M06 2016M07 2016M08 2016M09
–
–
2015Q4
:
2016M05 2016M06 2016M07 2016M08 2016M09
0.0
–2.7

:
:
:
2016Q2
–
2016Q2
1.8

:
:
:
2016Q1
–
2016Q1
1.2

–
–
2015Q3
:

–
–
2016Q1
:

–
–
2015Q2
:

–
–
2016Q2
:

–0.1
–1.9

–0.6
–3.0

–0.4
–3.5

:
:

General government deficit (–) 
/surplus (+)
General government gross debt

%

%

0.2

–

0.2

–

0.1

–

–0.2

–

:

–

Economic sentiment indicator (1) 

index

–

–

–

–

–

–

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
–0.73

–0.76

–0.83

–0.80

%

%

–0.30

–0.04

–0.31

–0.27

–0.76

–0.73

3–month interest rate (3)
Long term government  
bond yields (3)
Swiss Franc exchange rates
against the euro (7)
(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)  Source: ECB
« : » not available data; « – » not existing data

Average

–0.45

–0.39

1.08

1.09

1.10

1.09

1.09

1.08

2016M04
–
2016M04
–0.73

–0.25

1.09

–

2016M05 2016M06 2016M07 2016M08 2016M09
–
2016M05 2016M06 2016M07 2016M08 2016M09
–0.75
–0.75

–0.74

–0.78

–0.74

–

–

–

–0.30

–0.51

–0.54

–0.46

:

1.11

1.09

1.09

1.09

1.09

80

  Eurostatistics — 10/2016 edition 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Switzerland

Graph 1: Output

Growth rate
3.0 

2.0 

1.0 

0.0 

– 1.0 

– 2.0 

– 3.0 

Principal European Economic Indicators (PEEIs)

2

Graph 2: Demand

Growth rate
(PFC,I)

3.0 

2.0 

1.0 

0.0 

– 1.0 

– 2.0 

Growth rate
(RT)

3 

2 

1 

0 

– 1

– 2

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

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
1.5 

1.0 

0.5 

0.0 

– 0.5 

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Graph 4: Prices

Growth Rate

3.0 

2.0 

1.0 

0.0 

1.0 
– 1 0

– 2.0 

– 3.0 

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Employment (q/q-1)

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

Mio  EUR

18000

16000

14000

12000

10000

8000

6000

4000

2000

0

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

BOP current account 

%
1.5

1.0

0.5

0.0

-0.5

-1.0

Swiss Franc/€

1.50

1.40

1.30

1.20

1.10

1.00

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

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

81

Eurostatistics — 10/2016 edition  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)

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

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

Q/Q–1 % 

2015Q2
0.7

2015Q3
0.5

2015Q4
0.2

2016Q1
0.2

2016Q2
0.4

Q/Q–1 % 

0.7

0.7

0.6

0.4

Q/Q–1 % 

1.4
2015M10

1.2
2015M11

0.0
2015M12

0.2
2016M01

1.1

–0.7

2015Q2
3.0

2015Q3
2.2

2015Q4
1.9

2016Q1
1.6

2016Q2
1.3

3.4

3.9

3.1

3.6

2.6

3.2

2.4

2.7

2.7

0.6

Q/Q–4 %

Q/Q–4 %

Q/Q–4 %

2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09

–54802.0 –56892.7 –56872.3 –57633.5 –57685.0 –50432.4 –50639.4 –53956.3 –57262.4 –53085.2 –52756.0

:

2015Q2

2015Q3

2015Q4

2016Q1

2016Q2

mn euro –101243.1–110736.7–103538.8–119635.2–106168.1

Inflation (Harmonized Index  
of Consumer Prices – All items) (2)

Industrial producer prices (2)

M/M–1 %
M/M–12 %
M/M–1 % 
M/M–12 %

Unemployment 
rate (3)

 total 
age <25 year 
age >25 year 

%
%
%

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

Q/Q–1 % 

Employment (2) (5)

Q/Q–1 %

Industrial production

Production in construction 

Retail trade deflated turnover

M/M–1 % 
M/M–12 % 
M/M–1 % 
M/M–12 %
M/M–1 % 
M/M–12 %

General government deficit (–) 
/surplus (+)
General government gross debt

%

%

Economic sentiment indicator

index

3–month interest rate
Long term government  
bond yields 

%

%

2015M10
–0.2
0.1
–0.3
–5.7
2015M10
5.0
11.1
4.1
2015Q2
0.6
2015Q2
0.3
2015M10
–
–
:
:
–
–
2015Q2

2015M11
–0.2
0.4
–0.4
–5.1
2015M11
5.0
11.2
4.1
2015Q3
0.6
2015Q3
0.2
2015M11
–
–
:
:
–
–
2015Q3

2015M12
0.1
0.7
–1.2
–4.4
2015M12
5.0
11.2
4.0
2015Q4
0.7
2015Q4
0.4
2015M12
–
–
:
:
–
–
2015Q4

2016M01
0.0
1.3
–0.6
–2.9
2016M01
4.9
10.3
4.0
2016Q1
0.6
2016Q1
1.0
2016M01
–
–
:
:
–
–
2016Q1

–

–

–

–

–
2015M10
–
2015M10
0.32

2.06

–
2015M11
–
2015M11
0.37

–
2015M12
–
2015M12
0.53

–
2016M01
–
2016M01
0.62

2.26

1.07

2.24

1.09

2.08

1.09

2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09

0.2
1.0
–0.6
–3.6

–0.1
0.9
0.3
–3.7

–0.4
1.1
0.7
–2.8

–0.2
1.1
0.7
–3.5

–0.2
1.1
1.0
–2.9

0.0
0.9
–0.3
–2.9

–0.2
1.1
–0.4
–2.5

:
:
:
:

2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09

4.9
10.5
4.1
2016Q2
0.6
2016Q2
0.0

5.0
10.4
4.1

5.0
10.8
4.1

Q/Q–4 %

Q/Q–4 %

4.7
10.4
3.8
2015Q2
2.0
2015Q2
1.9

4.9
10.7
4.0
2015Q3
2.1
2015Q3
1.6

4.9
10.8
4.0
2015Q4
2.4
2015Q4
1.4

4.9
10.2
4.1
2016Q1
2.5
2016Q1
1.9

:
:
:
2016Q2
2.4
2016Q2
1.6

2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09

–
–
:
:
–
–

–
–
:
:
–
–

–
–
:
:
–
–

–
–
:
:
–
–

–
–
:
:
–
–

–
–
:
:
–
–

–
–
:
:
–
–

–
–
:
:
–
–
2016Q2

–

–

2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09

–

–

–

–

–

–

–

–

2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09

0.62

1.77

0.63

1.88

0.63

1.80

0.64

1.80

0.65

1.64

0.70

1.49

0.81

1.56

0.85

1.63

1.11

1.11

1.13

1.13

1.12

1.11

1.12

1.12

Euro-dollar exchange rate (6)

Avergae

1.12

(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)  Source: ECB
« : » not available data; « - » not existing data

82

  Eurostatistics — 10/2016 edition 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
United States

Graph 1: Output

Growth rate
3.0 

2.0 

1.0 

0.0 

– 1.0 

– 2.0 

– 3.0 

Principal European Economic Indicators (PEEIs)

2

Graph 2: Demand

Growth rate
(PFC,I)

3.0 

2.0 

1.0 

0.0 

– 1.0 

– 2.0 

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

GDP (q/q-1)

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

Investment (I) (q/q-1)

Graph 3: Labour

%
5.8 

5.4 

5.0 

4.6 

4.2 

Growth Rate
1.5

1.0

0.5

0.0

-0.5

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Employment (q/q-1)

Labour cost index  (q/q-1)

Graph 4: Prices

Growth Rate

3.0 

2.0 

1.0 

0.0 

1.0 
– 1 0

– 2.0 

– 3.0 

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Unemployment rate Total (%)

Industrial producer prices (m/m-1)

CPI (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

Mio  EUR

0

-20000

-40000

-60000

-80000

-100000

-120000

-140000

%
5.0

4.0

3.0

2.0

1.0

0.0

-1.0

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

€/$

1.50

1.40

1.30

1.20

1.10

1.00

0.90

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

3-month interest rate

Long term government bond yields 

BOP current account 

External trade balance  

Euro-dollar exchange rate

83

Eurostatistics — 10/2016 edition  2 Principal European Economic Indicators (PEEIs)

Detailed PEEIs analysis for Japan

Indicators

Unit

Reference Period

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

Q/Q–1 % 

Q/Q–1 % 

Q/Q–1 % 

2015Q2
–0.5

2015Q3
0.5

2015Q4
–0.4

2016Q1
0.5

2016Q2
0.2

Q/Q–4 %

2015Q2
0.7

2015Q3
1.8

2015Q4
0.8

2016Q1
0.1

2016Q2
0.8

–0.7

–0.2

0.5

0.2

–0.8

0.0

0.7

–0.4

0.2

1.1

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

Q/Q–4 %

0.0

0.5

–1.0

–0.3

0.5

Q/Q–4 %
2016M04

0.9

2.1
2016M05 2016M06 2016M07 2016M08 2016M09

–0.3

2.2

1.0

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

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

–871.1

534.8

284.1

753.7

1208.3

2116.9

3409.7

2537.4

3043.0

2932.7

3594.0

:

2015Q2

2015Q3

2015Q4

2016Q1

2016Q2

mn euro

29776.0 29321.2 36105.4 39098.3 38453.5

Consumer Prices Index – All 
items) (2)

Industrial producer prices (2)

M/M–1 %
M/M–12 %
M/M–1 % 
M/M–12 %

Unemployment 
rate (3)

 total 
age <25 year
age >25 year 

%
%
%

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 % 
M/M–12 % 
M/M–1 % 
M/M–12 %
M/M–1 % 
M/M–12 %

General government deficit (–) 
/surplus (+)
General government gross debt

%

%

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
0.1
0.0
0.0
–3.6
2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

0.2
0.0
–1.3
–3.1

–0.1
0.3
–0.5
–3.3

0.0
0.2
–0.4
–3.1

–0.2
0.2
–0.4
–3.3

0.1
0.3
–0.1
–3.2

3.2
5.5
–
2015Q2
0.1
2015Q2
0.0

3.3
5.1
–
2015Q3
0.4
2015Q3
0.3

3.3
5.2
–
2015Q4
0.1
2015Q4
0.0

3.2
5.0
–
2016Q1
0.5
2016Q1
0.5

3.3
5.9
–
2016Q2
0.1
2016Q2
0.1

3.2
5.8
–

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

–
–
:
:
–
–
2015Q2

–

–

–
–
:
:
–
–
2015Q3

–

–

–
–
:
:
–
–
2015Q4

–

–

–
–
:
:
–
–
2016Q1

–

–

–
–
:
:
–
–
2016Q2

–

–

–
–
:
:
–
–

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03

Economic sentiment indicator  

index

–

–

–

–

–

–

2015M10 2015M11 2015M12 2016M01 2016M02 2016M03
0.0

%

%

0.3

0.0

0.1

0.1

0.3

0.3

0.1

0.1

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

128.3

127.4

125.4

134.8

131.6

132.4

–0.1

0.2

0.0

2016M04
0.1
–0.3
–0.3
–3.9
2016M04
3.2
4.9
–

Q/Q–4 %

Q/Q–4 %
2016M04
–
–
:
:
–
–

:
:
:
:

0.1
–0.5
0.0
–4.1

0.1
–0.5
–0.2
–3.4

–0.1
–0.3
0.2
–4.0

3.1
5.2
–
2015Q3
0.3
2015Q3
0.4

3.2
5.3
–
2015Q2
–0.2
2015Q2
0.2

2016M05 2016M06 2016M07 2016M08 2016M09
0.2
–0.4
–0.1
–3.7
2016M05 2016M06 2016M07 2016M08 2016M09
3.0
4.8
–
2015Q4
0.4
2015Q4
0.4
2016M05 2016M06 2016M07 2016M08 2016M09
–
–
:
:
–
–

:
:
–
2016Q2
1.1
2016Q2
0.9

3.1
5.4
–
2016Q1
1.2
2016Q1
0.7

–
–
:
:
–
–

–
–
:
:
–
–

–
–
:
:
–
–

–
–
:
:
–
–

2016M04
–
2016M04
0.0

–0.1

124.3

–

2016M05 2016M06 2016M07 2016M08 2016M09
–
2016M05 2016M06 2016M07 2016M08 2016M09
0.0
0.0

0.0

0.0

0.0

–

–

–

–0.1

–0.2

–0.3

–0.1

0.0

123.2

118.5

115.3

113.5

114.2

84

  Eurostatistics — 10/2016 edition 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Japan

Graph 1: Output

Growth rate
3.0 

2.0 

1.0 

0.0 

– 1.0 

– 2.0 

– 3.0 

Principal European Economic Indicators (PEEIs)

2

Graph 2: Demand

Growth rate
(PFC,I)

3.0 

2.0 

1.0 

0.0 

– 1.0 

– 2.0 

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

GDP (q/q-1)

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

Investment (I) (q/q-1)

Graph 3: Labour

%
4.0 

3.6 

3.2 

2.8 

2.4 

Growth Rate
1.5

1.0

0.5

0.0

-0.5

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Employment (q/q-1)

Labour cost index  (q/q-1)

Graph 4: Prices

Growth Rate

3.0 

2.0 

1.0 

0.0 

1.0 
– 1 0

– 2.0 

– 3.0 

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

Unemployment rate Total (%)

Industrial producer prices (m/m-1)

CPI (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

Mio  EUR

45000
40000
35000
30000
25000
20000
15000
10000
5000
0
-5000

2015M10

2015M12

2016M02

2016M04

2016M06

2016M08

BOP current account 

External trade balance  

%
5.0

4.0

3.0

2.0

1.0

0.0

-1.0

2015M10 2015M12 2016M02 2016M04 2016M06 2016M08

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

Romenian 
Leu/€

160.00

150.00

140.00

130.00

120.00

110.00
110 00

100.00

90.00

85

Eurostatistics — 10/2016 edition  2 Principal European Economic Indicators (PEEIs)

Cross-country comparisons

Figure : Gross Domestic Product, in volume Q/Q–1
Quarterly growth in percentage, 2016 Q2

2.0 

1.5 

1.0 

0.5 

0.0 

– 0.5 

– 1.0 

fr

it

fi

no at

jp

el mt ea19 pt

us eu28 dk de

lt

be

ee

hr

si

se

lv

nl

ch bg cy uk

es

cz

pl

sk hu ro

Graph 6: Private Consumption, in volume Q/Q–1
Quarterly growth in percentage, 2016 Q2

4.0 

3.0 

2.0 

1.0 
1 0

0.0 

– 1.0 

ro

lt

cy

lv

hu us

si

fi

uk hr

sk

es

ee

pl

dk eu28 no be bg at ea19 de

jp

cz

it

nl

ch

fr

se

pt

el mt

Graph 6: Balance of payments, current account
Millions of euro, 2016 Q2

100000.0 

50000.0 

0.0 

– 50000.0 
50000 0

– 100000.0 

– 150000.0 

86

us uk

cz

ro pt

fi

el

lt

sk bg lv mt

cy hr

ee

fr

si

lu

pl hu at be

es dk

se

it

ie no nl

ch eu28 jp de

  Eurostatistics — 10/2016 editionPrincipal European Economic Indicators (PEEIs)

2

Figure : Harmonized Index of Consumer Prices: all items, M/M–1
Monthly growth in percentage, 2016 M08

3.0 

2.0 

1.0 

0.0 

– 1.0 

be

lu

cy mt

fr

uk

nl

eu ea

ee bg

el

es

pt

ro

fi

ch de

it

si

sk

se

cz

ie

hr

at

pl

dk

lt

hu

lv

no

Figure : Unemployment rates, harmonized rates: total
As a percentage of unemployed persons in the total number of active population, 2016 M08

25.0 

20.0 

15.0 

10.0 
10 0

5.0 

0.0 

jp

cz

de mt

us

nl

pl

ro

dk

lu

at

se

bg

si

be

ie eu28

lt

fi

lv

sk ea19

fr

pt

it

cy

hr

es

Figure : Long term interest rates — Long term government bond yields*  
Average according to Maastricht definition, 2016 M08

10.0 

8.0 

6.0 

4.0 
4 0

2.0 

0.0 

el

cy

hr

ro

pt

hu

pl

pl

bg

it

es

lt

si eu28 mt

ea

uk

ie

sk

cz

be

fr

lv

at

se

fi

dk

nl

lu

de

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

87

Eurostatistics — 10/2016 edition  2 Principal European Economic Indicators (PEEIs)

Symbols and codes in the tables

EU-28:   European Union (28 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-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)
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 7th  October 2016.

88

  Eurostatistics — 10/2016 edition