Eurostatistics. Data for short-term economic analysis. Issue number 11/2016.
Date: 2016-11-11
Institutions: Eurostat
Subjects: EU statistics, economic analysis, economic situation, economic statistics, short-term economic prospects

Eurostatistics

DATA FOR SHORT-TERM ECONOMIC ANALYSIS

11/2016

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

11/2016

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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 — 11/2016 edition  Editorial

International context: GDP 
growth accelerated in the US in 
Q3 2016 

European Union and euro area: 
GDP growth stable in Q3 2016 in 
the euro area and in the EU 

The advance estimate of the US GDP annual growth rate 
was 2.9% in Q3 2016 according to the BEA up from 1.4% 
in Q2 2016. The contribution to this expansion came 
from consumer spending on services, spending on 
durable goods, exports of goods and services, private 
inventory investment and government spending. 
Partially offsetting these contributions to growth, 
residential housing investment, consumer spending on 
non-durable goods, and state and local government 
spending declined in Q3 2016.

GDP growth remained stable in the euro area in Q3 
2016 according to the preliminary flash estimate with 
a quarterly rate of 0.3%, unchanged compared to Q2. 
The annual GDP growth rate was 1.6% in Q3 2016, the 
same as in Q2.  The flash estimate of the euro area 
annual inflation rate rose to 0.5% in October 2016, up 
from 0.4% in September 2016. Services saw the highest 
annual growth at 1.1%, while energy prices continued to 
decline, at -0.9% in October 2016 compared to -3.0% in 
September. 

Regarding the BRICS countries (Brazil, Russia, India, China 
and South Africa), China reported a slight deceleration 
of its quarterly GDP growth, with a rate of 1.8% in Q3 
2016 after 1.9% in Q2 2016. The annual GDP growth 
rate remained nevertheless stable at 6.7% in Q3 2016, 
the same since Q1 2016. The other BRICS countries will 
release their GDP growth rates for Q3 2016 only later. But 
in Q2 2016, India experienced a deceleration of its GDP 
growth with a quarterly rate of 1.4%, down from 2.0% 
in Q1. The annual GDP growth rate declined to 7.1% in 
Q2 2016 from 7.9% in Q1. In Brazil the GDP growth rate 
was -0.6% in Q2 2016, after -0.4% in Q1. 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. The annual GDP growth 
rate rose to 0.7% in Q2 2016, compared with -0.6% in 
Q1. According to the Federal Statistics State Service 
(Rosstat), the annual GDP growth rate in Russia was 
-0.6% in Q2 2016, an improvement on -1.2% in Q1.

The EU GDP quarterly GDP growth rate was 0.4% in Q3 
2016, unchanged compared to Q2. The annual GDP 
growth rate of the EU also remained unchanged at 1.8% 
in Q3 2016 compared to Q2

Situation in the Member states:  
GDP growth still sound in Spain 
and in the UK in Q3 2016  

In Q3 2016, GDP growth accelerated in Austria with a 
quarterly rate of 0.5%, up from 0.1% in Q2. The annual 
growth rate rose to 1.7% in Q3 2016 from 1.3% in Q2. 
Spain reported another solid quarterly GDP growth 
rate of 0.7% in Q3 2016, slightly down from 0.8% in Q2. 
The annual GDP growth rate fell slightly to 3.2% in Q3 
2016, down from 3.4% in Q2.  The UK also declared a 
sound GDP growth rate of 0.5%, nevertheless down 
from 0.7% in Q2. The annual GDP growth rate rose to 
2.3% in Q3 2016, up from 2.1% in Q2. France returned to 
positive GDP growth with a quarterly rate of 0.2% in Q3 
2016 after a contraction of 0.1% in Q2. The annual GDP 

5

Eurostatistics — 11/2016 edition   16. Summary analysis1 Summary Analysis

growth rate declined to 1.1% in Q3 2016 from 1.3% in 
Q2. The GDP growth rate decelerated in Lithuania with 
a quarterly rate of 0.1% in Q3 2016 down from 0.4% in 
Q2. The annual GDP growth rate declined to 1.6% in Q3 

2016 down from 2.1% in Q2. The other Member States 
will release their GDP growth rates for Q3 2016 on 15th 
November 2016.

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 third 
quarter of 2016, compared with the previous quarter, 
according to a preliminary flash estimate published by 
Eurostat. In the second quarter of 2016, GDP had also 
grown by 0.3% in the euro area and by 0.4% in the EU28. 
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 third quarter of 2016, 
after +1.6% and +1.8% also in the previous quarter. 

INDUSTRIAL PRODUCTION

In August 2016 compared with July 2016, seasonally 
and calendar adjusted industrial production rose by 
1.6% in the euro area (EA19) and by 1.4% in the EU28, 
according to estimates from Eurostat. In July 2016 
industrial production fell by 0.7% in both zones. In 
August 2016 compared with August 2015, industrial 
production increased by 1.8% in both zones.

CONSTRUCTION PRODUCTION

In August 2016 compared with July 2016, seasonally 
and calendar adjusted production in the construction 
sector decreased by 0.9% in the euro area (EA19) and 
by 1.3% in the EU28, according to first estimates from 
Eurostat. In July 2016, production in construction grew 
by 1.5% in the euro area and by 0.3% in the EU28. In 
August 2016 compared with August 2015, production 
in construction rose by 0.9% in the euro area, while it fell 
by 0.5% in the EU28

RETAIL TRADE 

In September 2016 compared with August 2016, the 
seasonally and calendar adjusted volume of retail trade 
fell by 0.2% in both the euro area (EA19) and the EU28, 
according to estimates from Eurostat. In August the 

retail trade volume decreased by 0.2% in the euro area 
and by 0.1% in the EU28. In September 2016 compared 
with September 2015 the calendar adjusted retail sales 
index increased by 1.1% in the euro area and by 2.2% in 
the EU28.

INFLATION 

Euro area annual inflation is expected to be 0.5% in 
October 2016, up from 0.4% in September 2016 and 
up from 0.2% in August according to a flash estimate 
from Eurostat.  In September 2015 the rate was –0.1%. 
European Union annual inflation was also 0.4% in 
September 2016, up from 0.3% in August. A year earlier 
the rate was –0.1%.   

UNEMPLOYMENT 

The euro area (EA19) seasonally-adjusted 
unemployment rate was 10.0% in September 2016, 
stable compared to August 2016 and down from 10.6% 
in September 2015. This is the lowest rate recorded in 
the euro area since June 2011. The EU28 unemployment 
rate was 8.5% in September 2016, stable compared 
to August 2016 and down from 9.2% in September 
2015. This is the lowest rate recorded in the EU28 since 
February 2009. Eurostat estimates that 20.789 million 
men and women in the EU28, of whom 16.181 million 
were in the euro area, were unemployed in September 
2016. Compared with August 2016, the number of 
persons unemployed decreased by 150 000 in the 
EU28 and by 101 000 in the euro area. Compared with 
September 2015, unemployment fell by 1.596 million in 
the EU28 and by 905 000 in the euro area. 

INTEREST RATES

On 20 October 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, decreased 

6

  Eurostatistics — 11/2016 editionSummary Analysis

1

slightly at –0.31% in October after –0.30 in September 
and August 2016. Long-term interest rates (monthly 
average weighted 10-year government bond yield) of 
the euro area increased at 0.63% after 0.58% in August 
2016. The EU28 long-term interest rates increased to 
0.83% in September from 0.78% in August 2016.

EXCHANGE RATES

The euro / US dollar exchange rate (monthly average) 
decreased at USD 1.1026 in October after 1.1212 in 
September 2016. The euro decreased against the 
Japanese yen in October 2016 with an exchange 
rate of Yen 114.47 for one euro. The euro decreased 
against the Swiss Franc at SF 1.089 in October from 
1.092 in September 2016. The euro / UK Pound Sterling 
exchange rate slightly increased to GBP 0.8939 in 
October from 0.8523 in September and 0.8552 in 
August 2016.

Growth forecasts for the euro area 

Growth confirmed in the euro 
area  

According to the Eurogrowth Indicator, the euro area 
growth would accelerate to 0.6% in the fourth quarter 
of 2016 after 0.45% in the third quarter. The year-on-year 
growth rate is expected to reach 1.8% in 2016Q4. 

The acceleration of GDP in 2016Q4 is mainly due to the 
improved economic sentiment in the Industrial survey, 
the improvement in household confidence and in the 
construction sector.  On the contrary, the exchange rate 
has a negative impact on the fourth quarter.

The Eurogrowth indicator still seems relatively immune 
to the uncertainty caused by the Brexit vote.

The €-coin indicator rose in October to 0.38 (from 
0.34 in September), with a strengthening of the growth 
trend under way since June. This largely reflects the 
improvement in consumer and business confidence 
levels, as well as the continuing favourable conditions 
on the financial markets.

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 — 11/2016 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

0.3

0.5

0.3

:

0.6

0.4

1.7

2.0

2.1

1.6

1.5

1.4

1.6

1.5

1.3

:

1.9

1.4

Cyclical indicators for the euro area 

Relative improvement of the 
cyclical indicators in September  

The Business Climate Indicator (BCI) increased 
further (by 0.11points to +0.55). Managers’ production 
expectations and their assessments of export order 
books improved sharply. Their assessments of the past 
production, the level of overall order books and the 
stocks of finished products also improved.

The Composite leading indicators (CLIs) point to 
stable growth in the OECD area with growth gaining 
momentum in major emerging economies. Stable 
growth is anticipated in the United States, Japan and 
the euro area as a whole, including France and Italy. 
Stable growth is also expected over the short-term in 
the United Kingdom, though uncertainty persists about 
the nature of the agreement the UK will eventually 
conclude with the EU. In Germany and in Canada, the 
CLIs indicate growth gaining momentum. Among major 
emerging economies, the CLIs point to growth gaining 
momentum in China and India, and also Brazil and 
Russia, albeit from low levels.

The IFO Index for the economic climate in the 
euro area improved this quarter, but to markedly 
different degrees across member states. The IFO index 
for the economic climate in the euro area rose from 
111.6 points to 116.8 points in the fourth quarter. The 
current economic situation remains unchanged and the 
improved economic climate was entirely due to more 
positive expectations. The economic recovery in the 
euro area is expected to continue at a sluggish pace.

The six-month economic outlook brightened almost 
everywhere, with the exception of a few countries, and 
points to an economic upturn over the next six months. 
Even experts in Greece are slightly more positive. Only 
experts in France, Latvia and Portugal remain skeptical 
about future economic developments.

Experts continued to assess the German economic 
situation as being the most positive. Assessments of the 
already favourable situation also improved in Belgium, 
Estonia, the Netherlands, Slovakia and Slovenia. By 
contrast, in Austria, Luxembourg, Latvia and Lithuania,  
participants assessed the current economic situation 
as slightly less favourable than in the  last quarter. In 
France, Italy and Spain assessments of the unfavourable 
economic situation continued to deteriorate. The 
majority of assessments also remained negative 
for Finland, Greece and Portugal, despite a slight 
improvement in these countries.

The growth outlook for the euro area for the next three 
to five years remained unchanged at an annual rate of 
1.7 percent compared to the survey conducted at the 
end of 2015. For 2016, experts expect an inflation rate of 
0.7 percent. The medium-term inflation expectations for 
2021 rose from 1.8 percent to 1.9 percent.

The DZ BANK’s Euro-Indicator climbed to its highest 
level since December 2015 in October at 98.7 points, 
and is currently around 0.4 per cent above last year‘s 
reading. 

The IARC turning point indicator dropped to 46.1% 
in October after a revised index of 49.2% in September, 
largely below the significant 80% signal threshold 
which indicates a risk of an imminent slowdown. It even 
remains under the 60% threshold signaling a possible 
downswing in the next nine months. 

The start-end recession indicator (IESR) decreased 
to a low 1.2% in September, showing no risk of a 
recession in the euro area.

8

  Eurostatistics — 11/2016 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.

100.2

98.4

0.22

100.2

98.4

0.38

100.3

98.2

0.03

100.3

98.4

0.44

:

98.7

0.55

2016M6

2016M7

2016M8

2016M9

2016M10

IFO

2016Q1

2016Q2

2016Q3

2016Q4

118.9

112.7

11.6

111.8

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 — 11/2016 edition   
1 Summary Analysis

Table: Turning point indicators for the euro area 

IARC

IESR

Probability index

Probability index

82.1

0.1

59.9

0.0

61.4

0.1

64.4

0.0

49.2

0.0

46.1

:

2016M5

2016M6

2016M7

2016M8

2016M9

2016M10

Figure: IARC indicator

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

Probability for a trough

Probability for a peak

5
4
5
1
1
1
-
-
-
r
n
c
a
e
u
D D J F F M A A M J J
M
D
J

5
1
-
y
a
M

4
1
-
c
e
D

5
1
-
b
e
F

5
1
-
b
e
F

5
1
-
r
p
A

5
1
-
r
p
A

5
1
-
n
u
J

5
1
-
n
a
J

5
1
-
l
u
J

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

5
1
-
g
u
A

5
1
-
v
o
N

5
1
-
v
o
N

5
1
-
c
e
D

5
1
-
p
e
S

6
1
-
b
e
F

6
1
-
r
a
M

6
1
-
r
a
M

6
1
-
y
a
M

6
1
-
y
a
M

6
1
-
r
p
A

5
1
-
t
c
O

6
1
-
n
a
J

6
1
-
n
a
J

6
1
-
l
u
J

6
6
1
1
-
-
t
g
c
u
A A S O
O
A

6
1
-
g
u
A

6
1
-
p
e
S

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
-
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

6
1
-
p
p
e
S

1.0

0.5

0.0

10

  Eurostatistics — 11/2016 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 — 11/2016 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

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

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

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

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

IPI

1
M
1
0
0
2

1
M
3
0
0
2

Trend 

1
M
5
0
0
2

1
M
7
0
0
2

1
M
9
0
0
2

1
M
1
1
0
2

1
M
3
1
0
2

1
M
5
1
0
2

Cycle

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 — 11/2016 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 — 11/2016 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 — 11/2016 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 — 11/2016 edition  17

Eurostatistics — 11/2016 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)

2015Q3
0.4

2015Q4
0.5

2016Q1
0.5

2016Q2
0.4

2016Q3
0.4

Q/Q–4 %

2015Q3
2.1

2015Q4
2.3

2016Q1
1.9

2016Q2
2.1

2016Q3
:

0.6

0.6

0.4

1.1

0.7

0.1

0.4

1.1

:

:

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

Q/Q–4 %

2.2

2.1

2.3

2.3

:

Q/Q–4 %
2016M05

3.2

1.8
2016M06 2016M07 2016M08 2016M09 2016M10

4.1

3.8

:

External trade balance 
(extra EU28) (2)

BOP Current account  
(extra EU28)

mn euro

5803.4 11846.7 5450.0

2598.1

3681.9

2714.9

4461.0

2505.4

–41.1

–2002.4

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

52711.1 55221.8 34272.9 38039.4

:

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 

 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

–0.1
0.1
–0.2
–3.5

0.0
0.2
–0.8
–3.1

–1.2
0.3
–1.2
–3.1

0.1
–0.1
–0.6
–4.2

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
0.1
–0.2
–0.3
–4.2
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
8.7
18.8
7.6

1.0
0.0
0.5
–4.0

9.0
19.5
7.9
2015Q4
0.6
2015Q4
0.4

8.9
19.3
7.8
2016Q1
0.3
2016Q1
0.4

8.9
19.2
7.8
2016Q2
0.2
2016Q2
0.3

8.7
18.9
7.7
2016Q3
:
2016Q3
:

9.0
19.6
7.9
2015Q3
0.3
2015Q3
0.4

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

–0.4
2.3
0.9
1.5
0.4
3.3
2015Q3

–2.0

85.9

–0.5
0.6
0.2
2.0
0.2
3.0
2015Q4

–2.4

85.0

2.2
3.2
1.1
4.1
0.7
2.9
2016Q1

–2.3

84.5

–1.2
0.8
–0.4
3.8
0.2
3.3
2016Q2

–1.4

84.3

–0.5
0.2
–1.6
–0.3
–0.5
2.4
2016Q3

:

:

1.6
2.5
0.5
–0.9
0.6
2.7

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
107.2
105.1
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

105.3

104.6

108.5

106.7

2016M05
0.3
–0.1
0.7
–3.7
2016M05
8.6
18.9
7.6

Q/Q–4 % (3)

Q/Q–4 %
2016M05
–1.3
0.9
–0.2
0.0
0.5
2.9

:
:
:
:

0.2
0.4
0.2
–1.1

0.2
0.1
0.8
–2.9

–0.4
0.2
0.3
–2.3

8.6
18.7
7.5
2015Q4
2.2
2015Q4
1.3

8.6
18.7
7.6
2015Q3
2.0
2015Q3
1.1

2016M06 2016M07 2016M08 2016M09 2016M10
0.1
0.3
–0.2
–1.5
2016M06 2016M07 2016M08 2016M09 2016M10
8.5
18.5
7.5
2016Q1
1.6
2016Q1
1.4
2016M06 2016M07 2016M08 2016M09 2016M10
1.4
1.8
–1.3
–0.5
–0.1
2.6

:
:
:
2016Q3
:
2016Q3
:

8.5
18.2
7.5
2016Q2
1.4
2016Q2
1.4

0.6
0.8
0.0
0.3
–0.1
2.6

–0.7
0.0
0.3
1.0
0.6
3.0

:
:
:
:
–0.2
2.2

:
:
:
:
:
:

2016M05
105.6
2016M05
–

104.7

2016M06 2016M07 2016M08 2016M09 2016M10
105.7
106.9
103.8
2016M06 2016M07 2016M08 2016M09 2016M10
–

105.5

–

–

–

0.78

–

0.83

–

:

–

–

–

–

–

–

–

–

–

%

%

1.47

1.44

1.19

1.28

1.42

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

0.85

–

–

–

–

–

–

–

–

18

  Eurostatistics — 11/2016 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

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

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 

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

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 

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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 

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

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

-10000

%
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

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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 — 11/2016 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)

2015Q3
0.3

2015Q4
0.5

2016Q1
0.5

2016Q2
0.3

2016Q3
0.3

Q/Q–4 %

2015Q3
2

2015Q4
2.2

2016Q1
1.6

2016Q2
2.2

2016Q3
:

0.5

0.6

0.3

1.4

0.6

0.5

0.2

1.1

:

:

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

Q/Q–4 %

2

1.7

2

2

:

Q/Q–4 %
2016M05

2.8

2.2
2016M06 2016M07 2016M08 2016M09 2016M10

4.3

4.8

:

External trade balance 
(extra EA19) (2)

BOP Current account  
(extra EU29)

mn euro

21888

23414.7 20373.9

19734

24422.8 25048.3

23943.3

23571

20784.5 23253.8

:

:

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

2016M05

2016M06 2016M07 2016M08 2016M09 2016M10

mn euro

32667

42223

9463

14376

36771

35943

16387

39063

31469

:

:

:

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

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
–0.2
–3.2

0
0.2
–0.8
–2.9

–1.4
0.3
–1.1
–2.9

0.2
–0.2
–0.7
–4.1

1.2
0
0.3
–4.1

0
–0.2
–0.4
–4.4

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

%

%

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

10.5
21.9
9.4
2015Q3
0.2
2015Q3
0.3

10.5
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
2016Q3
:
2016Q3
:

10.1
21.1
9.1

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

–0.3
2.2
1.1
0.7
0.1
2.4
2015Q3

–1.7

91.5

–0.4
0.5
–0.7
0.6
0.6
2.6
2015Q4

–1.5

90.4

2.6
3.5
2.1
4.9
0.3
2.2
2016Q1

–3

91.3

–1.6
0.6
–0.6
3.6
0.3
2.8
2016Q2

–0.9

91.2

–0.8
–0.1
–1.6
–0.4
–0.5
1.8
2016Q3

:

:

1.5
2
0
–1.1
0.2
1.6

Economic sentiment indicator (2) 

index

106

106.6

105.1

103.9

103

104

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
–0.25

–0.09

–0.13

–0.15

–0.18

–0.23

2016M05
0.4
–0.1
0.7
–3.8
2016M05
10.1
21
9

Q/Q–4 % (3)

Q/Q–4 %
2016M05
–1.4
0.4
0.2
–0.5
0.4
1.8

2016M05
104.6
2016M05
–0.26

0.3
0.5
:
:

0.4
0.4
0.1
–1.5

0.2
0.1
0.7
–3.1

–0.6
0.2
0.4
–2.6

10.1
20.9
9
2015Q3
1.3
2015Q3
1.1

10
20.8
9
2015Q4
1.6
2015Q4
1.2

2016M06 2016M07 2016M08 2016M09 2016M10
0.1
0.2
–0.2
–1.9
2016M06 2016M07 2016M08 2016M09 2016M10
10
20.6
9
2016Q1
1.6
2016Q1
1.4
2016M06 2016M07 2016M08 2016M09 2016M10
1.6
1.8
–0.9
0.9
–0.2
1.2

10
20.3
9
2016Q2
1
2016Q2
1.4

:
:
:
2016Q3
:
2016Q3
:

–0.7
–0.5
1.5
4.1
0.3
2

:
:
:
:
–0.2
1.1

0.8
0.7
0.3
0.6
0.1
1.9

:
:
:
:
:
:

104.5

2016M06 2016M07 2016M08 2016M09 2016M10
104.4
106.3
103.5
2016M06 2016M07 2016M08 2016M09 2016M10
–0.31
–0.3

–0.27

–0.29

104.9

–0.3

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

%

%

1.17

1.2

1.16

1.04

0.92

0.92

0.91

0.81

0.62

0.58

0.63

:

Average

1.0736

1.0877

1.086

1.1093

1.11

1.1339

1.1311

1.1229

1.1069

1.1212

1.1212

1.1026

(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 — 11/2016 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

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

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 

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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 

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

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 

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

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

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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 — 11/2016 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)

Q/Q–1 % (1)

Q/Q–1 % (1)

Q/Q–1 % (1)

0.1

–0.3

2.1

2015Q4
0.5

2016Q1
0.1

2016Q2
0.5

2016Q3
:

0.1

1.8

0

2.1

0.4

1.8

:

:

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

Q/Q–4 %

Q/Q–4 %

Q/Q–4 %
2016M05

2015Q3
1.3

2015Q4
1.6

2016Q1
1.2

2016Q2
1.3

2016Q3
:

1

1

0.5

0.3

:

–4.3

:
–4.6
2016M06 2016M07 2016M08 2016M09 2016M10

2.5

7.9

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

BOP Current account  
(all countries of the world)

mn euro

–194

–218.3

–676.7 –1027.8 –293.9

–407.7

–0.8

–136.6

–613.3

254.2

–1873.6 –2069.7 –2392.6 –2620.2 –1791.6 –2061.5

–1732.6

–1936.5 –2455.1 –1704

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

–157

2615

1698

155

:

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

1.7
1.1
–1.1
–6

–1.7
1.8
–2.7
–3.8

0.1
1.4
–0.4
–3.8

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
0.2
1.5
–0.9
–6.9
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
8.2
21
7.2

0.8
1.6
1.5
–6.3

8.6
24.5
7.3
2015Q4
0
2015Q4
0.2

–3.9
–0.4
–0.3
–8.5
0.1
–0.2
2015Q4

8.3
20.5
7.2
2016Q1
0
2016Q1
0.3

5.9
5.2
3.7
4.3
–1.4
–4
2016Q1

8.2
20.5
7.2
2016Q2
0
2016Q2
0.4

–1.5
6.5
–1.6
–1.1
0.4
–1.7
2016Q2

8.1
20.5
7.2
2016Q3
:
2016Q3
:

–0.5
2.6
–1.6
–7.2
–0.8
–2.9
2016Q3

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
0.2
3.7
1.5
2.6
0.9
–2.8

8.7
24.5
7.3
2015Q3
0
2015Q3
0.3

2.3
2.9
–1.9
–7.1
–0.5
–1.4
2015Q3

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

%

%

–6

109

3.9

106

–9.9

–0.4

109.2

109.7

:

:

Economic sentiment indicator (2) 

index

3–month interest rate
Long term government  
bond yields 

%

%

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
102.4
103.5
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

101.2

104.5

99.6

102

–

–

–

–

–

–

2016M05
0.4
1.6
2.7
–5.2
2016M05
8.2
21
7.2

Q/Q–4 % (3)

Q/Q–4 %
2016M05
–1.5
1.5
–0.6
–1.9
0.7
–1.9

2016M05
103.8
2016M05
–

–0.4
1.8
1.5
–0.6

0.4
1.8
1.5
–3.4

–1.1
2
0.2
–2.2

8.3
21
7.2
2015Q3
0.1
2015Q3
1

8.2
21.2
7.2
2015Q4
0.1
2015Q4
1

2016M06 2016M07 2016M08 2016M09 2016M10
:
1.3
:
2
:
–0.4
:
–1.5
2016M06 2016M07 2016M08 2016M09 2016M10
:
8.2
:
21.2
:
7.1
2016Q3
2016Q1
:
0.2
2016Q3
2016Q1
:
1.1
2016M06 2016M07 2016M08 2016M09 2016M10
:
–3.5
:
1.1
:
–1.5
:
–0.9
:
–0.7
:
–3.4

8
21.2
6.9
2016Q2
0.1
2016Q2
1.2

1.5
5.6
1.6
8.1
–0.2
–3.6

1.5
5.4
0.4
–0.7
0.1
–3.8

:
:
:
:
–0.8
–3.2

107.3

2016M06 2016M07 2016M08 2016M09 2016M10
101.7
103.7
108.6
2016M06 2016M07 2016M08 2016M09 2016M10
–

102.3

–

–

–

–

0.84

0.89

0.86

0.72

0.62

0.55

0.55

0.43

0.2

0.15

0.18

:

(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 — 11/2016 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

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

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

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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 

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

Unemployment rate Total (%)

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

Mio  EUR

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

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

External trade balance  

BOP current account 

Long-term government bond yields - rates

Euro-dollar exchange rate

23

Eurostatistics — 11/2016 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)

2015Q3
0.9

2015Q4
0.9

2016Q1
0.8

2016Q2
0.9

2016Q3
:

Q/Q–4 %

2015Q3
3.8

2015Q4
3.6

2016Q1
3.6

2016Q2
3.5

2016Q3
:

1.9

0.9

1.1

0.9

–1

–0.4

0.1

–1.4

:

:

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

Q/Q–4 %

6.4

7.5

2.5

1.2

:

Q/Q–4 %
2016M05

3.4

:
1.4
2016M06 2016M07 2016M08 2016M09 2016M10

–0.3

7.4

External trade balance 
(extra EU28) (2)

BOP Current account  
(all countries of the world)

–100.9

–50.7

25.2

–45.6

–58.4

–95.5

–133.7

–98.8

–75.1

–221.8

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

1044.8

–782.3

266.6

513.4

:

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 

 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
–0.4
–0.7
–3

0.4
–0.9
–0.6
–3.2

–0.5
–1
–0.4
–4

–0.3
–0.9
–0.6
–3.8

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
–0.2
–2.5
–0.5
–4.1
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
8
15.5
7.5

–0.6
–1.9
0.6
–4

7.9
19.5
7.3
2015Q4
1.5
2015Q4
0.1

1.4
3.5
–0.7
–2.2
0.2
1.7
2015Q4

8
18.6
7.4
2016Q1
2.5
2016Q1
0.3

0.4
2.3
–1.9
–10.4
0.6
1.3
2016Q1

8
17.6
7.5
2016Q2
2.1
2016Q2
0.5

0.2
2.7
–0.7
–5.2
1.8
3.3
2016Q2

8.1
16
7.6
2016Q3
:
2016Q3
:

–0.7
2.6
–0.6
–8.8
0.8
6.3
2016Q3

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
–0.4
2.6
–2.1
–10.4
–0.7
5.4

8
20.2
7.3
2015Q3
0.7
2015Q3
0.1

0.5
2.2
–1.5
–0.4
0.2
0.9
2015Q3

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

%

%

–1.8

26.5

–8.5

26

3

29.6

4.4

29.4

:

:

105.8

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
105.2
104.3
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
0.13

104.8

104.2

0.28

0.19

0.15

0.49

0.47

105

2016M05
0
–2.5
–0.1
–4.4
2016M05
7.9
15.2
7.5

Q/Q–4 % (3)

Q/Q–4 %
2016M05
–1.7
–3.4
–0.8
–8.2
1.1
4

2016M05
103.2
2016M05
0.14

–0.7
–1.1
0.3
–2.4

1
–1.1
–0.1
–3.8

0.1
–1.9
0.4
–4.2

7.8
14.6
7.5
2015Q4
5.6
2015Q4
0.3

7.9
15.4
7.5
2015Q3
7.2
2015Q3
0.2

2016M06 2016M07 2016M08 2016M09 2016M10
:
0
:
–1.1
:
–0.2
:
–2.7
2016M06 2016M07 2016M08 2016M09 2016M10
:
7.7
:
14.8
:
7.3
2016Q3
2016Q1
:
7.7
2016Q3
2016Q1
:
0.9
2016M06 2016M07 2016M08 2016M09 2016M10
:
0.6
:
2.5
:
0.6
:
–10
:
–0.3
:
5.3

7.5
14.9
7.2
2016Q2
7.3
2016Q2
1.5

–1.6
2.3
–0.9
–11.7
1.3
2.2

3.9
3.9
–2.3
–13.1
–0.9
5.4

–0.3
3.4
–0.5
–10.1
–0.2
1.9

105.9

2016M06 2016M07 2016M08 2016M09 2016M10
105.7
106.9
105.3
2016M06 2016M07 2016M08 2016M09 2016M10
:
0.15

0.14

0.13

0.13

107

2.99

2.43

2.44

2.67

2.66

2.44

2.37

2.4

2.39

2.28

2.15

:

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 — 11/2016 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

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

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

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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 

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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 — 11/2016 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)

2015Q3
1

2015Q4
0.3

2016Q1
0.4

2016Q2
0.9

2016Q3
:

Q/Q–4 %

2015Q3
4.2

2015Q4
4.3

2016Q1
2.7

2016Q2
3.6

2016Q3
:

0.5

1.3

0.9

0.5

0.6

–2.1

0.1

–4.1

:

:

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

Q/Q–4 %

2.4

2.9

2.4

2.6

:

Q/Q–4 %
2016M05

10.1

:
–0.5
2016M06 2016M07 2016M08 2016M09 2016M10

–4.1

9.5

External trade balance 
(extra EU28) (2)

BOP Current account  
(all countries of the world)

–475.9

–464.7

–269

–244.6

–298.8

–262.9

–196.9

–266.9

–172

–187.6

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

–1312.9

539.7

4061.4

–2.1

:

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 %

–0.2
–0.1
–0.5
–2.9

0.1
0.5
–0.7
–4

0.6
0.5
–1.6
–3.4

–0.4
0
–0.4
–3.7

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
0.6
0.5
0.1
–4.7
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
4
10.1
3.6

0
0.3
0
–4.5

4.5
11.1
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
–0.6
–2.2
1.8
0.8
6.6
2015Q4

4.3
10.5
3.9
2016Q1
–3.8
2016Q1
1.2

3.6
4.2
0.5
–7.8
1.3
6.2
2016Q1

4.2
9.9
3.8
2016Q2
1.4
2016Q2
0.3

–0.8
1.8
1.1
–3.3
–0.2
5.2
2016Q2

4
9.8
3.7
2016Q3
:
2016Q3
:

1.5
4.1
–3
–11.1
–0.4
5.1
2016Q3

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
–1.3
1.4
–3.2
–15
1.1
6.3

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

%

%

0.8

40.7

–2.6

40.3

–0.8

40.4

1.8

39.8

:

:

105.3

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
104.9
104.2
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
0.29

107.3

105.9

104.8

0.29

0.28

0.29

0.29

0.29

2016M05
–0.2
0
0.4
–4.8
2016M05
4
10.7
3.6

Q/Q–4 % (3)

Q/Q–4 %
2016M05
–0.2
1.4
2.1
–9.4
–0.4
4.4

2016M05
104.8
2016M05
0.29

–0.2
0.5
0.3
–2.4

0.1
–0.1
0.3
–4.4

0.4
0.5
0
–3.9

4.1
11.3
3.7
2015Q4
8.9
2015Q4
1.3

4.2
11.7
3.7
2015Q3
0.9
2015Q3
1.3

2016M06 2016M07 2016M08 2016M09 2016M10
:
–0.2
:
0.6
:
–0.2
:
–3.4
2016M06 2016M07 2016M08 2016M09 2016M10
:
3.8
:
10.9
:
3.3
2016Q3
2016Q1
:
0.3
2016Q3
2016Q1
:
1.9
2016M06 2016M07 2016M08 2016M09 2016M10
:
11.9
:
7.7
:
0.8
:
–8.4
:
–0.1
:
5.6

4
9.8
3.6
2016Q2
3.2
2016Q2
1.6

–9.8
–7.6
–0.1
–12.6
–0.2
5

2.3
4
–3.1
–12.5
1.3
6.3

–1.6
2.7
0.1
–7.4
0.7
4.7

104.8

2016M06 2016M07 2016M08 2016M09 2016M10
104.5
106.7
105.6
2016M06 2016M07 2016M08 2016M09 2016M10
:
0.29

106.1

0.29

0.29

0.29

0.49

0.49

0.62

0.46

0.35

0.43

0.46

0.45

0.37

0.29

0.25

:

Average

27.04

27.03

27.03

27.04

27.05

27.03

27.03

27.06

27.04

27.02

27.02

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 — 11/2016 edition 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
Czech Republic

Graph 1: Output

Growth rate
15.0 

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

85.0

Growth rate
(RT)

3 

2 

1 

0 

– 1

– 2

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

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

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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 

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

Unemployment rate Total (%)

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

Mio  EUR

4500
4000
3500
3000
2500
2000
1500
1000
1000
500
0
-500
-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

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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 — 11/2016 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)

2015Q3
–0.6

2015Q4
–0.2

2016Q1
0.7

2016Q2
0.4

2016Q3
:

Q/Q–4 %

2015Q3
0.6

2015Q4
0

2016Q1
–0.3

2016Q2
0.8

2016Q3
:

0.9

–0.4

0.5

1.2

0.6

0.4

0.5

–1.2

:

:

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

Q/Q–4 %

2.4

2.2

1.6

2.9

:

Q/Q–4 %
2016M05

–0.1

:
1.5
2016M06 2016M07 2016M08 2016M09 2016M10

–0.7

1.2

External trade balance 
(extra EU28) (2)

BOP Current account  
(all countries of the world)

999.5

936.9

1057.7

849.4

1033.9

1113.3

782.4

922.1

1077.2

917.1

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

7488.9

5947.5

3435.2

6511.4

:

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 

 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
0.3
–2.4
–5.8

0.5
0.1
–2.6
–6.4

–0.2
0.1
–0.9
–4.9

–0.5
0.4
1.7
–2.3

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
0.2
–0.3
0.5
–4.9
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
6.1
11.9
5.1

0.1
–0.3
0.8
–5

6
11.1
5.1
2015Q4
0.3
2015Q4
0.5

3.6
–1
0.6
7.1
–1.7
–0.5
2015Q4

5.9
11.1
5
2016Q1
0.6
2016Q1
0.5

3
4.8
0.9
5.6
1.1
1.4
2016Q1

5.9
11.4
4.9
2016Q2
0.1
2016Q2
0.5

–0.9
3
0.8
5.8
–0.4
0.4
2016Q2

6
11.2
5
2016Q3
:
2016Q3
:

–0.2
–0.9
4.9
10.1
–1.5
–3.4
2016Q3

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
1.1
1.6
–7.4
–1.2
2.2
1.7

6.1
10.7
5.2
2015Q3
0.4
2015Q3
0.3

–1.2
–3.1
–0.3
3.3
0.3
1.6
2015Q3

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

%

%

–1.3

41.7

–0.6

40.4

–2.9

39.8

–0.4

40.2

:

:

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
101.8
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
–0.09

–0.06

–0.14

–0.13

–0.08

–0.08

100.5

102.3

99.9

98.8

103

2016M05
0.2
–0.1
0.3
–4.2
2016M05
6.2
11.3
5.2

Q/Q–4 % (3)

Q/Q–4 %
2016M05
0.2
3.9
4.5
7.5
–1
3.5

2016M05
98.9
2016M05
–0.09

0.1
0.1
2.5
–1

–0.1
0.1
–1.3
0.4

0
–0.3
0.3
–0.7

6.1
11.8
5.1
2015Q3
1.7
2015Q3
1.1

6.3
12.6
5.1
2015Q4
1.5
2015Q4
1.3

2016M06 2016M07 2016M08 2016M09 2016M10
:
–0.4
:
0
:
–0.1
:
–1.4
2016M06 2016M07 2016M08 2016M09 2016M10
:
6.3
:
12.1
:
5.2
2016Q3
2016Q1
:
1.9
2016Q3
2016Q1
:
1.5
2016M06 2016M07 2016M08 2016M09 2016M10
:
–1.6
:
0.1
:
–1
:
2.2
:
–0.1
:
–0.9

6.3
12
5.2
2016Q2
1.4
2016Q2
1.9

2.1
7.1
–1.6
8
–0.6
–0.7

–0.3
–1.5
1.1
7.7
0.9
1.2

:
:
:
:
0.7
1

2016M06 2016M07 2016M08 2016M09 2016M10
102.4
97.9
2016M06 2016M07 2016M08 2016M09 2016M10
–0.2
–0.21

–0.17

–0.19

–0.19

97.6

97.1

100

0.81

0.83

0.79

0.55

0.51

0.4

0.41

0.23

0.07

0.04

0.01

:

Average

7.46

7.46

7.46

7.46

7.47

7.44

7.44

7.44

7.44

7.44

7.45

7.44

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 — 11/2016 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

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

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

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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 

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

Unemployment rate Total (%)

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

Mio  EUR

7000

6000

5000

4000

3000

2000

1000

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

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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 — 11/2016 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)

2015Q3
0.2

2015Q4
0.4

2016Q1
0.7

2016Q2
0.4

2016Q3
:

Q/Q–4 %

2015Q3
1.8

2015Q4
2.1

2016Q1
1.5

2016Q2
3.1

2016Q3
:

0.6

0.1

0.4

1.7

0.3

1.7

0.2

–1.5

:

:

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

Q/Q–4 %

2.2

2.1

1.7

2.4

:

Q/Q–4 %
2016M05

1.7

:
2.9
2016M06 2016M07 2016M08 2016M09 2016M10

4.4

4.1

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

BOP Current account  
(all countries of the world)

mn euro

19931

20895.5 18061.8 19743.3 21503.8 20930.5

19706.7

20848.7 18600.6

20285

14346.7 15488.4 12892.3 14733.7 15559.1 15532.5

14515.8

15345.8 13723.1 14888.1

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

65959

73452

64695

72813

:

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 %

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
–0.5
–0.3
0
–3
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

0
0.2
–0.2
–2.4

–1
0.4
–0.8
–2.3

0.4
–0.2
–0.5
–3

0
0.2
–0.4
–2.2

0.8
0.1
0.1
–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
2016Q3
:
2016Q3
:

4.2
7.2
3.9

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
0.8
1
–2
–0.9
–0.1
0.8

–0.8
0.3
–3.8
0.2
–0.9
0.8
2016Q3

2.8
2.7
2.4
1
0.1
2.2
2016Q1

–1.1
1.2
2.5
7.9
0.1
2.1
2016Q2

–0.4
0
1.3
0
0.5
2
2015Q3

0
–1.1
–0.5
–1.5
0.9
3.1
2015Q4

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

%

%

0.6

72

0.2

71.2

0.3

70.9

2.1

70.1

:

:

Economic sentiment indicator (2) 

index

3–month interest rate
Long term government  
bond yields 

%

%

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
104.4
106.8
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

104.7

104.1

106.8

104

–

–

–

–

–

–

2016M05
0.4
0
0.3
–2.7
2016M05
4.2
7.1
3.9

Q/Q–4 % (3)

Q/Q–4 %
2016M05
–1.2
–0.2
–0.1
–0.8
0.7
1.4

2016M05
104.8
2016M05
–

0
0.5
–0.2
–1.4

0.1
0.2
0.5
–2.1

0.4
0.4
0.2
–1.9

4.2
7
3.9
2015Q4
2.9
2015Q4
1.2

4.2
7
3.9
2015Q3
2.5
2015Q3
1

2016M06 2016M07 2016M08 2016M09 2016M10
:
–0.1
:
0.3
:
–0.1
:
–1.6
2016M06 2016M07 2016M08 2016M09 2016M10
4.1
6.9
3.8
2016Q1
2.8
2016Q1
1.3
2016M06 2016M07 2016M08 2016M09 2016M10
:
3.4
:
2.5
:
–0.1
:
1.2
:
–0.3
:
1

:
:
:
2016Q3
:
2016Q3
:

4.1
6.8
3.8
2016Q2
1.8
2016Q2
1.2

–1.9
1.2
–1.5
0.8
–1.4
–0.4

–1.8
–1.7
1.4
2.2
0.5
1.5

1.2
1.1
0.2
1
0
1.7

106.6

2016M06 2016M07 2016M08 2016M09 2016M10
108.7
105.5
106.4
2016M06 2016M07 2016M08 2016M09 2016M10
–

107.1

–

–

–

–

0.52

0.55

0.43

0.17

0.17

0.13

0.13

–0.02

–0.15

–0.13

–0.09

:

(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 — 11/2016 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

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

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

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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 

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

%
5.0

4.0

3.0

2.0

1.0

0.0

-1.0

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

€/$

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 — 11/2016 edition  2 Principal European Economic Indicators (PEEIs)

Detailed PEEIs analysis for Estonia

Indicators

Unit

Reference Period

2015Q3
–0.5

2015Q4
1.1

2016Q1
–0.5

2016Q2
0.5

2016Q3
:

Q/Q–4 %

2015Q3
1.9

2015Q4
0.8

2016Q1
1.5

2016Q2
0.8

2016Q3
:

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

Q/Q–1 % (1)

Q/Q–1 % (1)

Q/Q–1 % (1)

0.8

–1.7

0.4

5.8

1.2

–0.5

0.6

1.8

:

:

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

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

BOP Current account  
(all countries of the world)

mn euro

62.4

83.8

34.4

17

92.5

79.1

58.8

49.5

33.5

46.3

89.4

68.9

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

168.3

82.7

–85.6

104.6

:

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 %

–0.7
–0.2
–2
–5.5

–0.2
0.1
4.5
0

0.8
0.4
–5.2
–5.1

–0.3
0.5
–1.1
–3.2

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
0.1
0
–0.9
–4.9
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
6.4
11.6
5.9

0.8
0.5
1.6
–3.9

6.4
17.9
5.4
2015Q4
0.9
2015Q4
–2.1

–1.5
–8.2
–
–
2.5
6.5
2015Q4

6.2
16.4
5.4
2016Q1
2
2016Q1
0.5

4.6
–0.3
–
–
1.8
8.9
2016Q1

6.1
12.6
5.6
2016Q2
0.7
2016Q2
1.7

–0.3
–1.8
–
–
–2.2
5.8
2016Q2

6.5
10.7
6.1
2016Q3
:
2016Q3
:

–3.1
–4.7
–
–
–1.7
2.5
2016Q3

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
5.3
0.5
–
–
1.9
5

6.6
17
5.7
2015Q3
1.2
2015Q3
2

–2.6
–6.3
–
–
–0.9
1.7
2015Q3

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

%

%

2.1

10.1

0.1

10.1

–1.1

9.9

1.9

9.7

:

:

Economic sentiment indicator (2) 

index

99.7

100.2

101.3

99

99.2

99.5

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

3–month interest rate
Long term government  
bond yields 

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

%

%

–

:

–

:

–

:

–

:

–

:

–

:

Q/Q–4 %

5.3

2.3

3.9

3.1

:

Q/Q–4 %
2016M05

62.4

37.3

2016M05
0.4
0
0.6
–3.5
2016M05
6.6
12.9
6

Q/Q–4 % (3)

Q/Q–4 %
2016M05
–3.2
–2.1
–
–
1
5.4

2016M05
99.7
2016M05
–

–2.7

:
–1.2
2016M06 2016M07 2016M08 2016M09 2016M10

0.1

5.4

63

55.5

71.6

78.3

53.5

69.7

:

:

:

:

0
1.7
0.6
–2.5

0.5
0.4
1.6
–2.5

0
0.8
–2.3
–3.3

7
15.2
6.3
2015Q3
6.2
2015Q3
4.4

7
15.2
6.3
2015Q4
4.9
2015Q4
1.2

2016M06 2016M07 2016M08 2016M09 2016M10
:
0.1
:
1.1
:
0
:
–3.9
2016M06 2016M07 2016M08 2016M09 2016M10
:
7.6
:
14.6
:
7
2016Q3
2016Q1
:
7
2016Q3
2016Q1
:
0.9
2016M06 2016M07 2016M08 2016M09 2016M10
:
–0.5
:
0.9
–
–
–
–
:
–0.6
:
3

:
:
:
2016Q2
4.8
2016Q2
2

–2
–3.6
–
–
–1.1
3.1

5.2
6.5
–
–
1.5
4.8

4.6
2.2
–
–
1.3
2.9

102.1

2016M06 2016M07 2016M08 2016M09 2016M10
101.3
100.3
2016M06 2016M07 2016M08 2016M09 2016M10
–

102.9

104

–

–

–

–

:

:

:

:

:

:

(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 — 11/2016 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)

6.0 

100.0

95.0

90.0

4.0 

2.0 

0.0 

– 2.0 

85.0

– 4.0 

Growth rate
(RT)

6 

4 

2 

0 

– 2

– 4

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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
4.0

2.0

0.0

-2.0

-4.0

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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 

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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

%
1.4

1.3

1.2

1.1

1.0

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

External trade balance  

BOP current account 

Euro-dollar exchange rate

33

Eurostatistics — 11/2016 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)

2015Q3
2.4

2015Q4
3.4

2016Q1
–2.1

2016Q2
0.6

2016Q3
:

Q/Q–4 %

2015Q3
24.4

2015Q4
28.4

2016Q1
3.9

2016Q2
4.1

2016Q3
:

1.1

3.4

0.9

0.7

–2.7

–14.4

–0.5

38.9

:

:

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

Q/Q–4 %

5.5

4.8

5.1

1.8

:

Q/Q–4 %
2016M05

36.6

:
–3.7
2016M06 2016M07 2016M08 2016M09 2016M10

26.5

21.2

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

BOP Current account  
(all countries of the world)

mn euro

2251.1

2447.8

2434.5

2210.5

2427.4

2773.4

2208.4

2845.4

2613.2

2719.2

2638.3

2872.8

2787.6

2582.3

2737

3112.6

2481.6

3288.9

2922.7

2980.9

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

6924

7167

8955

4643

:

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

%

%

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
0.3
–0.2
1.3
–4.6
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

–0.9
0
–1.4
–2.7

–0.3
–0.1
0.2
–4.8

0.3
–0.6
–0.1
–5.8

–0.1
0.2
–0.3
–3.8

0.4
–0.2
–1.4
–3.2

9.1
20.3
8
2015Q3
0
2015Q3
–

8.9
19.4
8
2015Q4
–0.5
2015Q4
–

8.5
17.8
7.7
2016Q1
1.3
2016Q1
–

8.3
17.2
7.5
2016Q2
–0.6
2016Q2
–

8.3
17
7.4
2016Q3
:
2016Q3
–

8.3
17.1
7.4

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
21.6
0.8
–
–
0.4
3.1

–16.3
–19.4
–
–
–0.3
6.1
2016Q3

–16.6
–9.3
–
–
0.7
6.8
2016Q2

18.2
35.9
–
–
0.6
6.3
2016Q1

–1.8
31.5
–
–
4
9.4
2015Q3

0.6
45.8
–
–
–1.8
5.4
2015Q4

–1.4

85.6

–2.3

78.6

–2.3

80.5

0.3

77.8

:

:

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

Economic sentiment indicator (2) 

index

–

–

–

–

–

–

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

–

–

–

–

–

2016M05
0.5
–0.2
0.6
–3.6
2016M05
8.3
17.3
7.4

Q/Q–4 % (3)

Q/Q–4 %
2016M05
–8.2
–0.7
–
–
1.4
6.4

2016M05
–
2016M05
–

–0.3
0.1
0.1
–4

–0.4
–0.3
–0.1
–2.3

0.7
0.1
1.1
–2.8

8.4
17.9
7.4
2015Q3
1.8
2015Q3
2.9

8.3
17.6
7.3
2015Q4
–0.4
2015Q4
2.3

2016M06 2016M07 2016M08 2016M09 2016M10
:
–0.2
:
–0.4
:
–1.1
:
–4.1
2016M06 2016M07 2016M08 2016M09 2016M10
8.2
17.1
7.3
2016Q1
1.4
2016Q1
2.4
2016M06 2016M07 2016M08 2016M09 2016M10
:
–12.9
:
–7.5
–
–
–
–
:
0.6
:
3.7

7.9
15.9
7.1
2016Q2
0.2
2016Q2
2.9

7.7
15.1
7
2016Q3
:
2016Q3
:

7.6
1.7
–
–
–1.5
4.4

7.9
5.1
–
–
–0.1
3.1

6.4
–0.9
–
–
0.1
3

–

2016M06 2016M07 2016M08 2016M09 2016M10
–
2016M06 2016M07 2016M08 2016M09 2016M10
–

–

–

–

–

–

–

–

1.11

1.05

0.99

0.85

0.86

0.84

0.76

0.47

0.4

0.42

:

3–month interest rate
Long term government  
bond yields 

%

%

–

1.1

(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 — 11/2016 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

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

2015M11

2016M01

2016M03

2016M05

2016M07

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

%
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

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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 

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

External trade balance  

BOP current account 

Long-term government bond yields - rates

Euro-dollar exchange rate

35

Eurostatistics — 11/2016 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)

2015Q3
–1.1

2015Q4
0.2

2016Q1
–0.2

2016Q2
0.2

2016Q3
:

Q/Q–4 %

2015Q3
–1.7

2015Q4
–0.7

2016Q1
–0.9

2016Q2
–0.4

2016Q3
:

–1.1

–5.4

–0.1

19.9

–0.3

–6.6

–0.2

1

:

:

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

Q/Q–4 %

–1.4

–1.2

–1.7

–0.6

:

Q/Q–4 %
2016M05

–13.6

:
–1.5
2016M06 2016M07 2016M08 2016M09 2016M10

4.9

6.4

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

BOP Current account  
(all countries of the world)

mn euro

–780.6

–884.7

–716.5

–960.9

–596 –1275.8

–798

–759.4

–890.5

–631

–644.6

–768.5

–628.2

–836.1

–490.1 –1142.8

–652.5

–623.3

–756.6

–493.3

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

5634

–1688

–2372

–420

:

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

%

%

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
0.7
–0.4
0.2
–8.8
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

–0.7
–0.1
0.1
–6.6

–1.7
–0.1
–2.9
–6.3

0
0.4
–2.4
–5.7

0
0.1
–0.5
–9.9

1.1
–0.7
1.8
–9

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
2016Q3
:
2016Q3
:

23.5
49.7
22

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
4.1
3.4
–
–
–0.7
–2

–0.3
–3.8
–
–
4.1
–1.2
2016Q3

–4.4
–3
–
–
–3.4
–6.8
2016Q2

–1.5
4.4
–
–
–0.8
–1.7
2016Q1

3.8
2.7
–
–
–1.6
–4.4
2015Q3

2.4
7
–
–
1.7
0.2
2015Q4

–1.8

–15.4

–3.6

0.4

171.8

177.1

176.1

179.2

:

:

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

Economic sentiment indicator (1) 

index

87.1

87.6

91.6

89

90.1

90.3

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

–

–

–

–

–

–

2016M05
0
–0.2
1.3
–8.1
2016M05
23.6
49.8
22.1

Q/Q–4 % (3)

Q/Q–4 %
2016M05
–4.3
3.4
–
–
–1.6
–6.3

2016M05
89.7
2016M05
–

–1.2
0.2
–1
–7

1.3
0.2
0.5
–7.3

0.7
–0.1
0.4
–3.2

23.4
46.5
22.1
2015Q3
:
2015Q3
2.2

23.2
42.7
22
2015Q4
:
2015Q4
2.5

2016M06 2016M07 2016M08 2016M09 2016M10
:
0
:
0.4
:
–0.2
:
–4.1
2016M06 2016M07 2016M08 2016M09 2016M10
:
:
:
2016Q1
:
2016Q1
2.4
2016M06 2016M07 2016M08 2016M09 2016M10
:
0.3
:
–0.5
–
–
–
–
:
–4.4
:
–2.6

:
:
:
2016Q2
:
2016Q2
1.3

:
:
:
2016Q3
:
2016Q3
:

–0.7
4.7
–
–
4.7
9.5

4.1
8
–
–
0.9
–3.6

:
:
–
–
:
:

89.7

2016M06 2016M07 2016M08 2016M09 2016M10
92.5
2016M06 2016M07 2016M08 2016M09 2016M10
–

90.9

91.4

93.8

–

–

–

–

7.41

8.21

9.08

10.41

9.12

9.03

7.64

7.92

7.99

8.19

8.34

:

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 — 11/2016 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

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

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

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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 

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

%
12.0

10.0

8.0

6.0

4.0

2.0

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

€/$

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 — 11/2016 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)

2015Q3
0.9

2015Q4
0.8

2016Q1
0.8

2016Q2
0.8

2016Q3
:

Q/Q–4 %

2015Q3
3.5

2015Q4
3.3

2016Q1
3.5

2016Q2
3.6

2016Q3
:

1

0.7

0.7

0.9

1

1

0.6

1.2

:

:

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

Q/Q–4 %

3.7

2.8

3.8

3.3

:

Q/Q–4 %
2016M05

6.6

:
4.7
2016M06 2016M07 2016M08 2016M09 2016M10

6

4

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

BOP Current account  
(All countries of the world)

mn euro

–742.1

–666.5 –1394.2 –1276.9 –1214.9

–567.5

–958 –1500.7

–995.2 –1478.5

–1181.8

–817.9

–1758 –1646.6 –1580.5 –1012.6

–1328.7 –1841.9 –1586.5 –1848.3

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

5724

7034

–600

7274

:

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
–0.8
–2.2

0.3
–0.4
–0.1
–2.6

–0.4
–1
–1.1
–5.6

–2.5
–0.4
–2.6
–4.3

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
0.5
–1.2
–0.2
–6
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
20.2
46.1
18.4

2
–1
0.6
–5.4

20.9
46.6
19.1
2015Q3
–0.2
2015Q3
0.6

20.7
46.4
18.9
2015Q4
0.5
2015Q4
0.5

20.5
46
18.8
2016Q1
0
2016Q1
0.7

20.4
46.1
18.6
2016Q2
–0.2
2016Q2
0.6

20.3
46
18.5
2016Q3
:
2016Q3
:

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
–0.2
2.8
–2.6
–6
0.3
4.3

1.4
3.6
–1
7.3
0.3
4.6
2016Q3

–0.4
1.8
–0.8
12.8
0.5
4.2
2016Q2

–0.1
4.9
–0.8
0.2
–0.1
3.2
2015Q3

–0.2
3.4
2.5
20.4
0.3
3.7
2016Q1

0
4.4
1.8
6
0.2
2.4
2015Q4

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

%

%

–0.6

99.7

–7.9

99.3

–3.1

–9.1

100.6

100.5

:

:

Economic sentiment indicator (2) 

index

3–month interest rate
Long term government  
bond yields 

%

%

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
106.1
108.6
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

107.3

106.9

111.9

107.8

–

–

–

–

–

–

2016M05
0.5
–1.1
0.9
–5.5
2016M05

20.1
45.7
18.3

Q/Q–4 % (3)

Q/Q–4 %
2016M05
–0.6
1.1
2.7
2.7
–0.2
2.1

2016M05
105.7
2016M05
–

2016M06 2016M07 2016M08 2016M09 2016M10

0.4
–0.9
1.9
–4.5

0
–0.3
–0.2
–3.1
2016M06 2016M07 2016M08 2016M09 2016M10

–1.3
–0.7
0
–4.6

0.7
0
0.3
–2

:
:
:
:

19.9
45
18.1
2015Q3
0
2015Q3
2.7

19.6
43.8
17.9
2015Q4
1.6
2015Q4
2.5

19.4
43.1
17.8
2016Q1
0.4
2016Q1
2.8
2016M06 2016M07 2016M08 2016M09 2016M10

19.3
42.6
17.7
2016Q2
0.4
2016Q2
2.5

:
:
:
2016Q3
:
2016Q3
:

–0.1
0.3
1
5.1
1.1
5.7

–0.2
–0.9
2.1
15.8
0.4
5.3

2
4.4
–3
–4.3
–0.3
3.3

–1.2
0.3
:
:
0.2
3.3

:
:
:
:
:
:

2016M06 2016M07 2016M08 2016M09 2016M10
107.6
104.5
106.5
2016M06 2016M07 2016M08 2016M09 2016M10
–

106

105

–

–

–

–

1.72

1.69

1.72

1.72

1.54

1.53

1.57

1.48

1.17

1.01

1.04

:

(1)  sca: Seasonally and calendar adjusted data
(2)  sa: Seasonally adjusted data
(3)  ca: Calendar adjusted data, not seasonally adjusted data 
« : » not available data; « – » not existing data
The set of indicators is selected from the PEEIs list (COM/2002/661) and complemented by certain Monetary and Financial Indicators as well as the Economic Sentiment Indicator.
Indicator 
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 — 11/2016 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

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

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

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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 

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

Unemployment rate Total (%)

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

Mio  EUR

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

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

External trade balance  

BOP current account 

Long-term government bond yields - rates

Euro-dollar exchange rate

39

Eurostatistics — 11/2016 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)

2015Q3
0.4

2015Q4
0.3

2016Q1
0.6

2016Q2
–0.1

2016Q3
0.2

Q/Q–4 %

2015Q3
1.1

2015Q4
1.4

2016Q1
1.5

2016Q2
1.9

2016Q3
1

0.5

0.8

0

1.2

1.1

1.2

0

0

0

0.3

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

Q/Q–4 %

1.6

1.1

1.8

2

1

Q/Q–4 %
2016M05

0.7

2.8
2016M06 2016M07 2016M08 2016M09 2016M10

2.6

4.2

3

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

BOP Current account  
(All countries of the world)

mn euro

2149.1

2122.7

2986.2

1794.7

1943.4

2314.9

3866

2056.9

1175.5

2223.5

1646.3

1926.9

2576.1

1365.6

1693.9

2240.2

3587.6

1663.1

854.7

1803.8

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

1278

–271

–16080

–3913

:

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
–1.2
–2.7

–0.2
0.1
0.2
–2.4

0.3
–0.1
–0.5
–4.2

–1.1
0.3
–1
–2.7

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
0.1
–0.1
–0.7
–4.3
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
9.9
24.2
8.4

0.8
–0.1
0.3
–3.9

10.2
24.5
8.7
2015Q3
0.2
2015Q3
0.2

–0.7
3.6
1.5
0
–0.5
2.5
2015Q3

10.2
24.5
8.7
2015Q4
0.5
2015Q4
0.2

–0.7
–1.1
–3.4
–4.8
1.2
3.7
2015Q4

10.2
24.7
8.7
2016Q1
0.9
2016Q1
0.2

1.2
2.1
4.1
0.4
0.6
3.1
2016Q1

10.3
24.9
8.8
2016Q2
:
2016Q2
0.2

–1.2
0.7
–4.8
–4.5
0.3
4
2016Q2

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
1
2.1
2.7
–3
0.6
3

10.1
24.6
8.6
2016Q3
:
2016Q3
:

–0.2
–0.5
–1.8
–7.5
–0.4
3.9
2016Q3

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

%

%

–4.2

97

0.5

96.2

–6.7

97.5

–2.2

98.2

:

:

Economic sentiment indicator (2) 

index

3–month interest rate
Long term government  
bond yields 

%

%

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
101.3
102.6
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

103.6

102.1

103.5

102

–

–

–

–

–

–

2016M05
0.5
0.1
0.5
–3.3
2016M05
9.9
24.2
8.4

Q/Q–4 % (3)

Q/Q–4 %
2016M05
–0.5
0.6
0.8
–3.1
0
2.7

2016M05
102.7
2016M05
–

:
:
:
:

0.1
0.3
0.4
–3.1

–0.2
0.5
0.1
–1.7

–0.4
0.4
0.1
–2.9

10
24.4
8.6
2015Q3
1.2
2015Q3
0.5

10.3
24.3
8.8
2015Q4
1.3
2015Q4
0.7

2016M06 2016M07 2016M08 2016M09 2016M10
0.3
0.4
0
–1.8
2016M06 2016M07 2016M08 2016M09 2016M10
10.5
24.7
9
2016Q1
2
2016Q1
0.8
2016M06 2016M07 2016M08 2016M09 2016M10
2.1
0.1
–2.6
2.1
0.3
1.2

:
:
:
2016Q3
:
2016Q3
:

10.2
23.9
8.8
2016Q2
1.4
2016Q2
0.6

–0.5
–0.3
3.3
1.8
–0.3
1.9

–0.8
–1.3
–0.3
–2.2
–0.2
2.1

:
:
:
:
0.5
1.8

:
:
:
:
:
:

101

100.1

2016M06 2016M07 2016M08 2016M09 2016M10
101.5
101.3
2016M06 2016M07 2016M08 2016M09 2016M10
–

101.8

–

–

–

–

0.88

0.93

0.84

0.59

0.51

0.51

0.51

0.39

0.17

0.15

0.18

:

(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 — 11/2016 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

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

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

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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 

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

%
6.0

5.0

4.0

3.0

2.0

1.0

0.0

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

€/$

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 — 11/2016 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)

2015Q3
1.3

2015Q4
–0.6

2016Q1
0.6

2016Q2
0.5

2016Q3
:

Q/Q–4 %

2015Q3
2.8

2015Q4
1.8

2016Q1
2.7

2016Q2
2.8

2016Q3
:

0.5

1.8

0.9

0.5

0.6

2

0.8

2

:

:

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

Q/Q–4 %

1.5

2.6

3.1

3

:

Q/Q–4 %
2016M05

2.5

:
4.3
2016M06 2016M07 2016M08 2016M09 2016M10

6.5

3.4

External trade balance 
(extra EU28) (2)

BOP Current account  
(all countries of the world)

–18.9

–30.4

11.5

37.9

10.7

–6.1

–30.5

50.8

–13.7

–44.5

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

3913.6

–456

–1585.1

154.8

:

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 %

–0.3
–0.6
–0.8
–4.8

–0.6
–0.3
–1
–4.1

–0.6
–0.4
–0.6
–4.3

–0.4
–0.2
–1
–2.8

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
0.4
–0.9
–1.5
–5.8
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
13.6
31.7
11.6

0.5
–0.9
1.1
–5

15.7
40.3
13.2
2015Q3
–1.8
2015Q3
–0.5

–1.6
3.6
–
–
0.9
5.5
2015Q3

15.1
40.3
13
2015Q4
0.4
2015Q4
1.1

–2.1
0.6
–
–
1.7
6.7
2015Q4

14.7
31.2
12.9
2016Q1
3
2016Q1
–0.2

2.4
9.4
–
–
–2.9
1.5
2016Q1

14.3
31.2
12.6
2016Q2
5
2016Q2
0.8

–0.4
4.6
–
–
0
1.7
2016Q2

13.9
31.2
12.2
2016Q3
:
2016Q3
:

4
6.9
–
–
0.6
2.8
2016Q3

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
–3.1
5
–
–
0.6
2.6

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

%

%

0.2

87.3

–2.9

86.7

–4.3

85.8

1.6

84.6

:

:

120.9

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
118.6
118.6
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
0.82

120.3

118.5

118.4

1.06

0.88

0.83

1.41

1.24

2016M05
0.3
–1.2
0.1
–6.3
2016M05
13.2
31.7
11.2

Q/Q–4 % (3)

Q/Q–4 %
2016M05
–0.9
1.7
–
–
–0.2
2.2

2016M05
116.1
2016M05
0.8

2016M06 2016M07 2016M08 2016M09 2016M10
–0.2
–1.5
–1.4
–5

0.3
–1.2
1.2
–4.8

–0.1
–1.1
–0.7
–5

0.2
–0.7
1.5
–3

:
:
:
:

:
:
:
2016Q3
:
2016Q3
:

12.6
29.4
10.8
2016Q2
3
2016Q2
1.1

13.1
31.7
11
2015Q3
0.2
2015Q3
–0.3

13
29.4
11
2015Q4
0.7
2015Q4
2

2016M06 2016M07 2016M08 2016M09 2016M10
12.8
29.4
11
2016Q1
2.8
2016Q1
0.7
2016M06 2016M07 2016M08 2016M09 2016M10
–1.1
2.5
–
–
0.1
1.7

–0.5
1.2
–
–
1
1.5

0.3
4.1
–
–
–1
0

3.6
1.9
–
–
:
:

:
:
–
–
:
:

118.3

2016M06 2016M07 2016M08 2016M09 2016M10
117.8
122.5
119.6
2016M06 2016M07 2016M08 2016M09 2016M10
:
0.82

0.87

0.79

121

0.8

3.86

3.92

3.84

3.68

3.66

3.62

3.52

3.81

3.75

3.58

3.34

:

Average

7.61

7.64

7.66

7.64

7.56

7.50

7.50

7.52

7.49

7.49

7.50

7.51

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 — 11/2016 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

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

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

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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 

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

Unemployment rate Total (%)

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
1000
-1200
-1400
-1600
-1800

%
5.0

4.0

3.0

2.0

1.0

0.0

-1.0

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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 — 11/2016 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)

2015Q3
0.2

2015Q4
0.2

2016Q1
0.3

2016Q2
0

2016Q3
:

Q/Q–4 %

2015Q3
0.6

2015Q4
1

2016Q1
0.8

2016Q2
1

2016Q3
:

0.6

0.6

0.3

0.9

0.4

0.7

0.1

0.2

:

:

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

Q/Q–4 %

1.9

1.7

2.3

1.2

:

Q/Q–4 %
2016M05

1.4

:
2.1
2016M06 2016M07 2016M08 2016M09 2016M10

2.8

3

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

BOP Current account  
(all countries of the world)

mn euro

4258.2

4887.6

3953.6

4396.9

4443.6

5083.9

4140.7

4514.6

4518.4

4473.1

2914.9

3610.5

2717

3030.7

3245.4

3747.5

2879.9

3226.3

3335.1

3173.1

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

10843

13037

2657

11599

:

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
–0.5
–4.1

–2.2
0.4
–0.8
–3

0
0.1
–0.6
–3.9

–0.4
0.1
–0.5
–4.1

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
0.2
–0.4
–0.9
–4.5
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
11.6
36.5
9.9

2.1
–0.2
0.2
–3.9

11.5
38.2
9.8
2015Q3
0
2015Q3
0.5

–0.4
1.3
3.2
4
0.5
1.2
2015Q3

11.6
38.6
9.8
2015Q4
–0.4
2015Q4
0.4

–0.7
–0.9
–0.3
1.1
0
0.9
2015Q4

11.7
39
9.9
2016Q1
–0.3
2016Q1
0.4

1.7
3.8
–1.5
–1.7
0
1
2016Q1

11.7
38.5
9.9
2016Q2
–0.4
2016Q2
0.5

–0.6
1.1
0.4
0.5
0.4
2.7
2016Q2

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
0.5
1.8
2.2
2.7
0.1
–0.1

11.5
36.8
9.9
2016Q3
:
2016Q3
:

0
0.5
–0.7
–0.4
–0.6
0
2016Q3

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

%

%

–2

–2.5

134

132.3

–4.6

135

–0.2

135.5

:

:

Economic sentiment indicator (2) 

index

3–month interest rate
Long term government  
bond yields 

%

%

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
108.1
108.8
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

106.1

103.7

109.2

107.5

–

–

–

–

–

–

2016M05
0.3
–0.3
0.8
–4.1
2016M05
11.5
36.9
9.9

Q/Q–4 % (3)

Q/Q–4 %
2016M05
–0.6
–0.6
–3.8
–2.8
0.4
1

2016M05
108.4
2016M05
–

2016M06 2016M07 2016M08 2016M09 2016M10
–0.1
–0.1
–0.2
–1

–1.9
–0.2
1.6
–1.4

0.2
–0.2
0.5
–3.4

1.9
0.1
–0.1
–0.8

:
:
:
:

11.7
37.1
:
2016Q2
–1.1
2016Q2
1.8

11.5
39
:
2015Q4
–0.7
2015Q4
0.9

:
:
:
2016Q3
:
2016Q3
:

11.6
37.2
9.9
2015Q3
–0.3
2015Q3
0.7

2016M06 2016M07 2016M08 2016M09 2016M10
11.5
38.3
:
2016Q1
–1.5
2016Q1
1.2
2016M06 2016M07 2016M08 2016M09 2016M10
1.7
4.1
3.4
4.2
–0.2
–0.4

–0.3
–0.9
1.4
0
–0.2
1.1

0.7
–0.3
–0.4
–1.3
0.1
0.3

:
:
:
:
:
:

:
:
:
:
:
:

105.2

2016M06 2016M07 2016M08 2016M09 2016M10
103.1
104.8
2016M06 2016M07 2016M08 2016M09 2016M10
–

103.5

105

–

–

–

–

1.57

1.58

1.53

1.56

1.38

1.44

1.53

1.45

1.23

1.18

1.27

:

(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 — 11/2016 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

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

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

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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 

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

Unemployment rate Total (%)

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

Mio  EUR

14000

12000

10000

8000

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

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

External trade balance  

BOP current account 

Long-term government bond yields - rates

Euro-dollar exchange rate

45

Eurostatistics — 11/2016 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)

Q/Q–1 % (1)

Q/Q–1 % (1)

Q/Q–1 % (1)

2015Q3
0.4

2015Q4
0.5

2016Q1
1

2016Q2
0.7

2016Q3
:

Q/Q–4 %

2015Q3
2.3

2015Q4
2.5

2016Q1
2.6

2016Q2
2.9

2016Q3
:

0.7

23.8

0.7

0.3

1.2

–9.7

–53.3

349.9

:

:

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

Q/Q–4 %

2.1

2.4

2.6

2.8

:

Q/Q–4 %
2016M05

–8.7

:
–66.1
2016M06 2016M07 2016M08 2016M09 2016M10

10.4

133

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

BOP Current account  
(all countries of the world)

mn euro

–52.8

–90.7

–47.5

–66.7

–87.8

–63.9

–112.8

–87

–81.6

–55.1

–28.5

–35.7

–24.6

–45.7

–40.2

–34.1

–66.5

–60.3

–37.2

–42.2

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

128

–198

47

–457

:

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 %

–1.2
–1.5
–1.9
–6.8

–0.6
–2.2
–0.1
–6.8

–1.4
–1.1
–1.3
–6.9

–0.6
–0.6
–0.2
–7.1

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
0.4
–2.1
–0.1
–5.3
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
12.6
26.8
11.2

0.7
–2.2
–1.9
–5.7

13.4
30.7
11.9
2015Q4
0
2015Q4
0.7

0.5
7.9
–
–
2.4
8.7
2015Q4

13.2
29.1
11.7
2016Q1
0.4
2016Q1
0.5

1.7
11.1
–
–
–1.5
3.9
2016Q1

13.2
29.1
11.7
2016Q2
–0.1
2016Q2
0.8

0.8
9.2
–
–
0.9
7.4
2016Q2

13
29.1
11.5
2016Q3
:
2016Q3
:

0.5
9.5
–
–
0.9
8.2
2016Q3

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
1.6
10.2
–
–
0.8
9.1

13.7
30.7
12.1
2015Q3
0
2015Q3
0.4

2.3
7.6
–
–
0.2
3.1
2015Q3

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

%

%

2.9

–6.8

3.6

110.2

108.9

109.3

–4.3

109

:

:

Economic sentiment indicator (1) 

index

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
113.3
106.3
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

108.1

108.9

106.7

107.4

3–month interest rate
Long term government  
bond yields 

%

%

–

4

–

–

3.87

3.82

–

4

–

–

2016M05
1.3
–1.9
0.8
–4.8
2016M05
12.4
26.8
11

Q/Q–4 % (3)

Q/Q–4 %
2016M05
–2.6
4.5
–
–
–2.8
0.7

2016M05
111.3
2016M05
–

:
:
:
:

1
–0.4
2.5
–3.3

–0.4
–0.4
0.3
–2.1

0.3
–2
–0.2
–4.8

12.2
26.8
10.9
2015Q3
–0.7
2015Q3
0.8

12.1
26.7
10.8
2015Q4
–0.7
2015Q4
1.6

2016M06 2016M07 2016M08 2016M09 2016M10
0.4
–0.6
0.2
–3.1
2016M06 2016M07 2016M08 2016M09 2016M10
12.1
26.7
10.7
2016Q1
0.5
2016Q1
1.7
2016M06 2016M07 2016M08 2016M09 2016M10
–0.1
6
–
–
–0.9
0.2

12
26.7
10.6
2016Q2
0.6
2016Q2
2.5

:
:
:
2016Q3
:
2016Q3
:

–0.1
8.1
–
–
–0.8
2.1

2.7
10.7
–
–
1.7
5.8

:
:
–
–
:
:

:
:
–
–
:
:

110.1

2016M06 2016M07 2016M08 2016M09 2016M10
112.3
116.2
109.9
2016M06 2016M07 2016M08 2016M09 2016M10
–

110.1

–

–

–

–

4.01

3.99

3.89

3.82

3.87

3.84

3.62

:

(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 — 11/2016 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

100

0

-100

-200

-300

-400

-500

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

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

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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 

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

External trade balance  

BOP current account 

Long-term government bond yields - rates

Euro-dollar exchange rate

47

Eurostatistics — 11/2016 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)

2015Q3
0.6

2015Q4
–0.3

2016Q1
–0.1

2016Q2
0.6

2016Q3
:

Q/Q–4 %

2015Q3
3.5

2015Q4
2.7

2016Q1
2.1

2016Q2
2

2016Q3
:

1.4

–3.3

0.1

1.2

–4.2

–11.4

1.2

–8.4

:

:

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

Q/Q–4 %

5.1

1.8

3

4.1

:

Q/Q–4 %
2016M05

6.1

:
–15.7
2016M06 2016M07 2016M08 2016M09 2016M10

–26.3

0.5

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

BOP Current account  
(all countries of the world)

mn euro

43.1

51.3

42.9

27.4

25.4

39.6

28.7

19.5

43.7

22.8

83.4

81

79.4

76.4

63.5

81

65.1

55.1

87.7

60.6

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

–123

69

152

–37

:

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
0.4
–0.4
–2.5

0.1
–0.6
–1.3
–4

–0.7
–0.3
0.1
–2.8

–0.1
0
0.2
–2.3

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
0.4
–0.7
–0.2
–4
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
9.5
18
8.8

0.8
–0.6
–0.6
–3.9

9.9
18.8
9.1
2015Q4
2
2015Q4
0.5

–0.8
2.6
–
–
0.2
1.5
2015Q4

10.1
17.3
9.5
2016Q1
1.9
2016Q1
–0.1

0.3
4.8
–
–
2.3
3.2
2016Q1

9.9
16.1
9.3
2016Q2
3.2
2016Q2
0.2

–0.1
3.8
–
–
0.3
2.7
2016Q2

9.7
16.1
9.1
2016Q3
:
2016Q3
:

4.3
2.7
–
–
–0.2
0.8
2016Q3

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
–1.8
0
–
–
0.5
2

9.9
19.4
9
2015Q3
1.7
2015Q3
0.4

0.8
4.6
–
–
–2.8
0.2
2015Q3

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

%

%

0.2

36.4

–6.7

36.3

2.7

36.3

2

38.9

:

:

Economic sentiment indicator (2) 

index

3–month interest rate
Long term government  
bond yields 

%

%

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
104.2
101.6
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

102.7

103.6

102.2

103.1

–

–

–

–

–

–

2016M05
0.7
–0.8
–0.5
–4.4
2016M05
9.5
18.8
8.7

Q/Q–4 % (3)

Q/Q–4 %
2016M05
2.1
5.5
–
–
0.7
3.5

2016M05
104.3
2016M05
–

:
:
:
:

–0.3
0.1
0
–4

0.4
0.5
0.2
–2.3

0.1
–0.6
0.1
–4.4

2016M06 2016M07 2016M08 2016M09 2016M10
–0.7
–0.1
0.6
–2.9
2016M06 2016M07 2016M08 2016M09 2016M10
9.3
15.8
8.8
2016Q1
6.7
2016Q1
0.8
2016M06 2016M07 2016M08 2016M09 2016M10

9.6
18.7
8.8
2015Q3
7.3
2015Q3
2.3

:
:
:
2016Q3
:
2016Q3
:

9.5
17.4
8.9
2015Q4
7.6
2015Q4
2.6

9.2
15.5
8.7
2016Q2
9.5
2016Q2
0.9

0.5
7.9
–
–
–0.7
1.5

–2.1
2.5
–
–
0.5
1.7

–2
–0.6
–
–
0
1.1

1.5
2.4
–
–
–0.8
0.5

:
:
–
–
:
:

104.4

2016M06 2016M07 2016M08 2016M09 2016M10
103.4
103.1
104.7
2016M06 2016M07 2016M08 2016M09 2016M10
–

104.7

–

–

–

–

1.19

1.08

1.05

0.88

0.71

0.61

0.51

0.48

0.3

0.12

0.1

:

(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 — 11/2016 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)

4 

2 

0 

– 2

– 4

– 6

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

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

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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 

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

Unemployment rate Total (%)

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

Mio  EUR

200

150

100

50

0

-50

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

%
6.0

5.0

4.0

3.0

2.0

1.0

0.0

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

€/$

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 — 11/2016 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)

2015Q3
0.6

2015Q4
0.6

2016Q1
0.6

2016Q2
0.4

2016Q3
0.1

Q/Q–4 %

2015Q3
1.8

2015Q4
2.1

2016Q1
2.4

2016Q2
1.9

2016Q3
1.7

1.8

–0.2

0.9

–2.8

0.9

0.8

2.4

2.5

:

:

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

Q/Q–4 %

5.2

4.1

5

6.5

:

Q/Q–4 %
2016M05

5.3

:
–6.1
2016M06 2016M07 2016M08 2016M09 2016M10

2.6

2.2

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

BOP Current account  
(all countries of the world)

mn euro

169.7

–1.9

202.6

137.3

99.4

144.9

34.6

10.5

98.2

78.1

215.4

37.6

206.3

174.6

156.4

174.1

55.4

16.9

114.6

126.8

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

–244.9

360.4

–27.7

–389.6

:

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
–0.5
0
–9.1

–0.3
0.5
–1.8
–6

–0.4
–0.2
–0.9
–8.2

–0.4
0.7
1.8
–3.6

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
0.7
0.8
0.1
–6.4
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
8
14.8
7.4

1.1
0.8
–0.5
–6.3

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
–
–
0.7
6.5
2016Q1

8.5
13.9
8
2016Q2
1.5
2016Q2
1

1.2
5.6
–
–
0.9
8.5
2016Q2

8.4
14.2
7.9
2016Q3
:
2016Q3
:

–3.6
2.7
–
–
0.2
4.9
2016Q3

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
–3
–1.6
–
–
1.2
6.5

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

%

%

1.9

38.2

–2.3

42.7

–2.2

40

3.9

40.1

:

:

Economic sentiment indicator (2) 

index

3–month interest rate
Long term government  
bond yields 

%

%

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
104.1
106.2
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

105.4

105.7

106.1

105

–

–

–

–

–

–

2016M05
0
0.2
0.5
–5.7
2016M05
8.2
15.5
7.6

Q/Q–4 % (3)

Q/Q–4 %
2016M05
4
0.2
–
–
0.6
6.2

2016M05
104.1
2016M05
–

:
:
:
:

0
0.4
1
–3.4

–0.8
0
–0.6
–3.9

0.8
0.6
0.3
–1.7

8.4
16.2
7.7
2015Q3
5.7
2015Q3
0.1

8.8
16.5
8.1
2015Q4
4.7
2015Q4
1.3

2016M06 2016M07 2016M08 2016M09 2016M10
–0.4
0.5
–0.8
–3.1
2016M06 2016M07 2016M08 2016M09 2016M10
8.6
16.6
7.9
2016Q1
6.1
2016Q1
2.6
2016M06 2016M07 2016M08 2016M09 2016M10
–0.4
0.3
–
–
0.8
6.7

:
:
:
2016Q3
:
2016Q3
:

8.4
16.2
7.7
2016Q2
6.6
2016Q2
2.4

–0.3
–0.6
–
–
0.7
6.1

–0.5
–1.4
–
–
0.6
6.5

3.1
7.9
–
–
0.2
7.6

:
:
–
–
:
:

103.8

2016M06 2016M07 2016M08 2016M09 2016M10
106.2
106
103.7
2016M06 2016M07 2016M08 2016M09 2016M10
–

107

–

–

–

–

1.57

1.49

1.47

1.42

1.42

1.31

0.86

0.86

0.86

0.86

0.79

:

(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 — 11/2016 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

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

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

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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 

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

Unemployment rate Total (%)

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

Mio  EUR

400

300

200

100

0

-100

-200

-300

-400

-500

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

External trade balance  

BOP current account 

%
6.0

5.0

4.0

3.0

2.0

1.0

0.0

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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 — 11/2016 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)

2015Q3
0

2015Q4
3.8

2016Q1
–1

2016Q2
1.6

2016Q3
:

Q/Q–4 %

2015Q3
1.7

2015Q4
3.2

2016Q1
3.1

2016Q2
4.3

2016Q3
:

Q/Q–1 % (1)

–0.1

Q/Q–1 % (1)

4

1.3

–5.2

–1.3

0.3

1.4

5.6

:

:

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

Q/Q–4 %

2.2

1.9

1.1

1.3

:

Q/Q–4 %
2016M05

7.2

–10.1

:
–10.1
2016M06 2016M07 2016M08 2016M09 2016M10

4.2

mn euro

–134.6

63.6

–110.2

–153.8

–49.1

–100.7

–15.2

–181.9

–105.5

–122

–196.1

–224.4

–192.2

–247.6

–116.8

–170.5

–135.6

–254.4

–186.1

–199.6

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

–1209

1878

519

284

:

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 %

–0.5
0.9
–0.4
–3

1.3
–0.3
–0.5
–5.2

0.1
0.4
–0.6
–2.6

–1.5
0.5
–2.1
–4.3

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
0.2
–0.6
–0.1
–5.3
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
6.3
17.4
5.4

0.1
–0.6
–0.1
–5.2

6.5
17.4
5.6
2015Q4
0.1
2015Q4
0.7

–2.4
–1.1
–1.6
–3.4
–4.7
6.2
2015Q4

6.3
17.4
5.4
2016Q1
0.3
2016Q1
0.7

0.2
2.3
3.7
1.9
4.3
17.9
2016Q1

6.3
17.7
5.4
2016Q2
–0.2
2016Q2
0.7

1
1.4
5.6
16.3
1.5
18.4
2016Q2

6.3
17.8
5.4
2016Q3
:
2016Q3
:

–0.1
0.8
–7.2
0
–0.4
12.9
2016Q3

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
–3.4
–1.3
–1.2
0.1
2
17.3

6.5
17.4
5.5
2015Q3
–0.5
2015Q3
0.8

1.7
3.3
3
0.2
5.8
26.4
2015Q3

2016M05
0.5
–0.6
0.2
–5.2
2016M05
6.2
17.3
5.3

Q/Q–4 % (3)

Q/Q–4 %
2016M05
–0.1
–2.7
0.3
1.1
0.3
13.8

2016M06 2016M07 2016M08 2016M09 2016M10

:
:
:
:

–1.3
–0.4
–3.9
–7.7

0.3
0.3
0
–7.1

0.4
–0.4
0.5
–4.7

1
–0.2
0
–7.2
2016M06 2016M07 2016M08 2016M09 2016M10
6.2
17
5.3
2016Q1
1.2
2016Q1
2.9
2016M06 2016M07 2016M08 2016M09 2016M10

6.2
17
5.3
2015Q4
0.3
2015Q4
2.8

6.2
17.2
5.3
2015Q3
0.3
2015Q3
2.8

6.3
17.4
5.3
2016Q2
–1.1
2016Q2
2.9

:
:
:
2016Q3
:
2016Q3
:

3.1
2.2
0.3
3.8
1.5
14.3

–0.1
2.2
4.3
1.9
0.7
11.9

–3
–5.2
–5.9
4
3.1
18

:
:
:
:
0.3
15.2

:
:
:
:
:
:

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

%

%

0

22.1

1.1

22.1

0.6

22.4

4.6

22

:

:

Economic sentiment indicator (2) 

index

96.2

97.4

97.4

97.1

102.9

108

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

2016M05
107.2
2016M05
–

102.3

2016M06 2016M07 2016M08 2016M09 2016M10
103.6
105.5
108.9
2016M06 2016M07 2016M08 2016M09 2016M10
–

101.5

–

–

–

–

–

–

–

–

–

%

%

0.27

0.25

0.42

0.43

0.72

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

–0.03

0.34

0.33

0.17

0.00

–

:

52

  Eurostatistics — 11/2016 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

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

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

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

Employment (q/q-1)

Labour cost index  (q/q-1)

Graph 4: Prices

Growth Rate

2.0 

1.0 

0.0 

– 1.0 

2.0 
– 2 0

– 3.0 

– 4.0 

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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

%
5.0

4.0

3.0

2.0

1.0

0.0

-1.0

€/$

1.600

1.400

1.200

1.000

0.800

0.600

0.400

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

External trade balance  

BOP current account 

Long-term government bond yields - rates

Euro-dollar exchange rate

53

Eurostatistics — 11/2016 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)

2015Q3
0.4

2015Q4
0.9

2016Q1
–0.5

2016Q2
1

2016Q3
:

Q/Q–4 %

2015Q3
2.4

2015Q4
3.2

2016Q1
1.1

2016Q2
2.6

2016Q3
:

0.8

0.3

1.4

1

1.6

–18

1.2

–0.9

:

:

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

Q/Q–4 %

2.7

3.4

4.8

5.1

:

Q/Q–4 %
2016M05

–1.4

:
–7.8
2016M06 2016M07 2016M08 2016M09 2016M10

–20

6.5

External trade balance 
(extra EU28) (2)

BOP Current account  
(all countries of the world)

–312.9

–103.1

–240.8

–208.8

–176.4

–127.2

–214.3

–161.5

–137.9

–218.3

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

866.6

545

1607.9

1757

:

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
0.3
–2
–4.9

–0.1
1
–2.2
–3

0
0.6
–0.1
–3.1

–0.3
1
–0.5
–2.7

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
0.8
0.3
0
–4.8
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
5.4
13.9
4.7

0.2
–0.2
0.5
–5.1

6.3
15.7
5.5
2015Q3
0.9
2015Q3
0.8

–1.5
6.6
4.8
–0.2
0.4
4.3
2015Q3

6.1
14.7
5.4
2015Q4
0.9
2015Q4
0.5

–0.5
6.7
2.4
8
0.4
4.5
2015Q4

5.9
14.3
5.2
2016Q1
1.1
2016Q1
0.9

0.2
2.5
–21.6
–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
1.5
6.6
2016Q2

5.6
14.1
4.9
2016Q3
:
2016Q3
:

–1.7
–3.1
–7.4
–35.4
–0.2
4.3
2016Q3

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
5.8
5
3.4
–30
0.9
6.7

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

%

%

–1.5

78

–1.1

75.4

–0.8

77.2

–0.7

75.6

:

:

113.2

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
112.4
110.1
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
1.18

115.6

111.7

112.4

1.19

1.34

1.19

1.25

1.35

2016M05
0.3
–0.1
1.6
–4.8
2016M05
5.2
13.4
4.5

Q/Q–4 % (3)

Q/Q–4 %
2016M05
–0.6
4.4
1.7
–25.8
0.1
5.7

2016M05
109.7
2016M05
0.98

2016M06 2016M07 2016M08 2016M09 2016M10
–0.4
–0.1
–1
–3.3
2016M06 2016M07 2016M08 2016M09 2016M10

–0.2
–0.3
0
–3.6

0.2
–0.1
1.2
–4.1

0.2
0.7
0.3
–2.8

:
:
:
:

:
:
:
2016Q2
3
2016Q2
2.7

5.1
12.7
4.4
2015Q4
4
2015Q4
2.8

:
:
:
2016Q3
:
2016Q3
:

5.1
13
4.4
2015Q3
4.6
2015Q3
2.6

5
12.6
4.4
2016Q1
4.1
2016Q1
2.9
2016M06 2016M07 2016M08 2016M09 2016M10
1.6
3.5
4.6
–9.1
0.3
4.4

–0.3
–0.1
–3
–17.6
–0.2
4

–2.3
–0.3
7.4
–16.2
0.4
5.6

:
:
:
:
0.6
5.1

:
:
:
:
:
:

114.8

2016M06 2016M07 2016M08 2016M09 2016M10
108.5
108.4
109.4
2016M06 2016M07 2016M08 2016M09 2016M10
:
0.75

109.7

0.89

0.93

0.8

3.34

3.47

3.36

3.36

3.13

3.02

3.35

3.31

2.88

2.83

2.88

:

312.27

314.4

314.68

310.37

311.15

311.46

314.58

313.98

314.35

310.21

308.68

307.00

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 — 11/2016 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

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

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

%
6.6 

6.2 

5.8 

5.4 

5.0 

4.6 

Growth Rate
2.0

1.5

1.0

0.5

0.0

-0.5

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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 

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

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

55

Eurostatistics — 11/2016 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)

2015Q3
1.1

2015Q4
1.6

2016Q1
0.1

2016Q2
0.2

2016Q3
:

Q/Q–4 %

2015Q3
6

2015Q4
6.3

2016Q1
5.3

2016Q2
3

2016Q3
:

2.9

3.3

0.9

–16.8

–0.1

–1.3

–1.4

15.4

:

:

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

Q/Q–4 %

7.3

7.1

5.8

2

:

Q/Q–4 %
2016M05

80.4

:
19.2
2016M06 2016M07 2016M08 2016M09 2016M10

–2.1

24.6

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

BOP Current account  
(all countries of the world))

mn euro

–100.7

–60

–87.1

–452.5

–62

–244.4

–109.1

–82.1

109.6

–56.6

–67.9

–10.4

–58.6

–426.9

–37.2

–217.1

–82

–39.4

158.1

–29.7

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

57.4

87.3

12.3

–5.3

:

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 %

–2.5
1.3
0.3
–3

–0.1
1.3
0.1
–2.9

0.6
1
0
–3.3

–1.6
0.8
0.2
–3.1

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
2.6
0.8
–0.2
0.9
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
4.9
9.5
4.1

1
1
0
–3.4

5.1
10.8
4.2
2015Q4
0.5
2015Q4
–

–1.1
5.5
–
–
1.5
6.6
2015Q4

5.1
10.4
4.3
2016Q1
–1.7
2016Q1
–

–4.4
–8.4
–
–
–0.6
6.2
2016Q1

5
9.9
4.3
2016Q2
1.8
2016Q2
–

3.1
–2.9
–
–
1.7
12.6
2016Q2

4.8
9.3
4.1
2016Q3
:
2016Q3
–

–0.9
–4.2
–
–
–1.6
3.1
2016Q3

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
1.3
–2.7
–
–
–0.8
–2.4

5.3
11.8
4.2
2015Q3
1.1
2015Q3
–

–2.7
3.1
–
–
–0.9
1.9
2015Q3

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

%

%

–0.9

66.1

4.4

64

–2.9

65.4

0.5

64.8

:

:

Economic sentiment indicator (2) 

index

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
109.2
108.8
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

107.5

106.3

108.2

108

3–month interest rate
Long term government  
bond yields 

%

%

–

–

–

–

–

1.29

1.29

1.25

1.16

1.03

–

1

2016M05
1
1
0
0.8
2016M05
4.8
9.3
4.1

Q/Q–4 % (3)

Q/Q–4 %
2016M05
0.2
–3.9
–
–
0.8
–1.2

2016M05
105.6
2016M05
–

2016M06 2016M07 2016M08 2016M09 2016M10
0.4
1
0
1

–0.9
0.9
–0.1
0.4

–0.1
0.9
0
0.9

1.1
1
0.1
0.9

:
:
:
:

4.7
9.8
3.9
2016Q2
1.5
2016Q2
2.8

4.8
10.3
4
2015Q4
2.4
2015Q4
3.4

:
:
:
2016Q3
:
2016Q3
:

4.9
10.1
4.1
2015Q3
2.1
2015Q3
2.8

2016M06 2016M07 2016M08 2016M09 2016M10
4.8
10.2
3.9
2016Q1
0.2
2016Q1
2.4
2016M06 2016M07 2016M08 2016M09 2016M10
0.2
–3.9
–
–
0.8
1.6

0
–5.3
–
–
–0.4
–2.7

–0.9
–6.8
–
–
0.3
–0.6

3.2
0.4
–
–
0.2
2.3

:
:
–
–
:
:

110.5

2016M06 2016M07 2016M08 2016M09 2016M10
113.6
110.8
109.8
2016M06 2016M07 2016M08 2016M09 2016M10
–

114.1

–

–

–

–

1.02

0.95

0.76

0.61

0.6

:

(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 — 11/2016 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

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

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

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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 

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

External trade balance  

BOP current account 

Long-term government bond yields - rates

Euro-dollar exchange rate

57

Eurostatistics — 11/2016 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)

2015Q3
0.3

2015Q4
0.2

2016Q1
0.6

2016Q2
0.6

2016Q3
:

0.2

0.5

0.1

3.2

0.5

1.2

0.1

2.2

:

:

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

Q/Q–4 %

Q/Q–4 %

Q/Q–4 %
2016M05

2015Q3
2

2015Q4
1.4

2016Q1
1.5

2016Q2
2.3

2016Q3
:

2

1.4

1.3

1.1

:

9.5

:
2016M06 2016M07 2016M08 2016M09 2016M10

9.1

7.6

7

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

BOP Current account  
(all countries of the world))

mn euro

–6557.7 –6479.6 –5372.8 –5783.3 –5405.8 –5411.8

–5574.4

–5394 –5084.7 –5562.5

–10119 –9826.3 –8933.4

–9663 –8931.5 –8877.2

–9025.5 –9271.4

–9003 –8948.4

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

12944

11226

16517

13104

:

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 %

–1.5
0.2
–2.2
–5.9

0.9
0.3
–1.5
–8.9

–0.8
0.4
–0.5
–8

–0.1
0.5
–2.4
–7.2

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
0.1
–0.2
–0.4
–10.3
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
6.4
11.2
5.5

1.5
0.5
0.8
–9.5

6.7
11.2
5.9
2015Q3
0.1
2015Q3
0.2

–0.2
–3.7
0.4
1.9
0
0.6
2015Q3

6.6
11.2
5.8
2015Q4
0.4
2015Q4
0.4

–1.3
–7.5
1.5
9.5
0.9
2
2015Q4

6.5
11.2
5.6
2016Q1
0.7
2016Q1
0

1.8
–5.2
1
8.4
–0.9
0.2
2016Q1

6.5
11.3
5.6
2016Q2
–0.4
2016Q2
0.4

–0.9
–5
0.3
7.7
0.5
0.5
2016Q2

6.4
11.4
5.5
2016Q3
:
2016Q3
:

1.9
1.7
0.9
8
–0.7
0.2
2016Q3

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
1.7
5.2
0.1
6.8
–0.6
–1.1

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

%

%

–3.6

66.2

0.8

65.1

0.5

64.8

–1.3

63.7

:

:

Economic sentiment indicator (2) 

index

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
103.9
106.7
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

104.9

102.9

104.3

102

3–month interest rate
Long term government  
bond yields 

%

%

–

–

–

–

–

0.72

0.75

0.65

0.37

0.32

–

0.4

2016M05
0.2
–0.2
1.8
–8.5
2016M05
6.3
11.1
5.4

Q/Q–4 % (3)

Q/Q–4 %
2016M05
–5.3
1.5
0.1
3.9
2.2
2.4

2016M05
103.8
2016M05
–

2016M06 2016M07 2016M08 2016M09 2016M10

–0.5
–0.2
2.4
–6.4

0.2
0.1
–2.5
–6.4
2016M06 2016M07 2016M08 2016M09 2016M10

0.3
–0.6
–0.1
–6

–0.4
–0.1
2
–3.8

:
:
:
:

6.1
10.8
5.3
2015Q3
1.1
2015Q3
1.2

6
10.8
5.2
2015Q4
0.1
2015Q4
1

5.8
10.6
4.9
2016Q1
2.1
2016Q1
1.1
2016M06 2016M07 2016M08 2016M09 2016M10

5.7
10.5
4.8
2016Q2
0.6
2016Q2
1.1

:
:
:
2016Q3
:
2016Q3
:

1.7
1.4
–0.3
0.7
–0.8
0

–1.6
–0.4
1.9
9.2
0.9
2.3

3.2
4.3
1
13.6
–1.2
–0.1

1.7
5.2
:
:
:
:

:
:
:
:
:
:

105.9

2016M06 2016M07 2016M08 2016M09 2016M10
102.3
105.9
2016M06 2016M07 2016M08 2016M09 2016M10
–

104

105

–

–

–

–

0.38

0.25

0.06

0.03

0.06

:

(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 — 11/2016 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

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

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

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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 

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

%
6.0

5.0

4.0

3.0

2.0

1.0

0.0

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

€/$

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 — 11/2016 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)

Q/Q–1 % (1)

Q/Q–1 % (1)

Q/Q–1 % (1)

2015Q3
0.2

2015Q4
0.4

2016Q1
0.6

2016Q2
0.1

2016Q3
0.5

Q/Q–4 %

2015Q3
1.4

2015Q4
1.1

2016Q1
1.6

2016Q2
1.2

2016Q3
1.3

0.2

–0.4

0.5

0.2

0.2

1.7

0.4

1.8

0.2

0.5

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

Q/Q–4 %

0.1

0.6

1.2

1.7

1.3

Q/Q–4 %
2016M05

0.8

3.5
2016M06 2016M07 2016M08 2016M09 2016M10

1.1

4.6

2

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

BOP Current account  
(all countries of the world))

mn euro

1250.7

992.2

865.6

897.5

1353.5

1397.4

1146.8

1135.1

1138.6

870.8

767.5

633.1

472.7

509.7

927

1060.9

776.1

739.9

774.8

539.7

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

1064

730

5182

414

:

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

–1.1
1.4
–1
–2.9

0.6
1.1
–0.4
–2.6

–0.1
1
–1
–4.3

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
0.1
0.6
0.1
–3.8
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
5.9
10.3
5.3

1.1
0.7
0.2
–4

5.9
11.4
5.1
2015Q3
–0.6
2015Q3
0.2

–0.8
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
–0.5
2016Q1

6.1
11.8
5.2
2016Q2
0
2016Q2
0.2

–1.9
–1.4
0.4
3.1
1.4
1
2016Q2

5.9
10.5
5.2
2016Q3
:
2016Q3
:

2.5
3.2
0.9
2
–1
0.2
2016Q3

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
0.1
3.7
–2.1
0.1
0.8
0.9

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

%

%

–0.6

86.4

0.8

85.5

–3.3

86.5

–1.5

86.7

:

:

Economic sentiment indicator (2) 

index

98.5

101.6

101.3

96

96.4

97.8

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

–

–

–

–

–

–

2016M05
0.1
0.6
0.2
–3.5
2016M05
6.1
11.2
5.4

Q/Q–4 % (3)

Q/Q–4 %
2016M05
–0.6
2.4
–0.3
1.6
0.3
2.1

2016M05
99.3
2016M05
–

:
:
:
:

0
0.6
0.5
–3

1
1.1
0
–2

–0.5
0.6
0
–2.8

6.1
11
5.4
2015Q4
5.3
2015Q4
0.8

6.1
11.4
5.4
2015Q3
0.7
2015Q3
0.6

2016M06 2016M07 2016M08 2016M09 2016M10
–0.2
0.6
0.1
–2.3
2016M06 2016M07 2016M08 2016M09 2016M10
6.2
11.3
5.5
2016Q1
1.1
2016Q1
1.2
2016M06 2016M07 2016M08 2016M09 2016M10
1.9
2.8
–0.1
0.1
0.4
1.7

:
:
:
2016Q3
:
2016Q3
:

6.3
11.7
5.5
2016Q2
0.6
2016Q2
1.1

–0.2
1.5
–0.1
1.1
–0.3
0.2

–0.7
–1
–0.3
0.5
0
0.4

:
:
:
:
0.3
0.9

:
:
:
:
:
:

99.8

2016M06 2016M07 2016M08 2016M09 2016M10
103.2
99.3
2016M06 2016M07 2016M08 2016M09 2016M10
–

100.6

99.3

–

–

–

–

0.82

0.86

0.77

0.53

0.46

0.38

0.37

0.33

0.16

0.11

0.15

:

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 — 11/2016 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

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

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

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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 

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

External trade balance  

BOP current account 

Long-term government bond yields - rates

Euro-dollar exchange rate

61

Eurostatistics — 11/2016 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)

2015Q3
0.8

2015Q4
1.3

2016Q1
–0.1

2016Q2
0.9

2016Q3
:

Q/Q–4 %

2015Q3
3.3

2015Q4
4.3

2016Q1
2.5

2016Q2
3

2016Q3
:

0.7

0.2

0.6

–0.3

0.7

–1.9

0.6

–1.2

:

:

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

Q/Q–4 %

2.7

2.2

3

2.7

:

Q/Q–4 %
2016M05

5.2

:
–2.2
2016M06 2016M07 2016M08 2016M09 2016M10

–4.6

4.4

External trade balance 
(extra EU28) (2)

BOP Current account  
(All countries of the world)

–1278.4 –844.2 –1026.6 –1194.5 –1007.3 –961.5

–591.8

–1025.7 –761.3 –1205.3

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

–2501.1 –985.3

–183.5

990.8

:

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
–0.2
–0.5
–2.3

–0.1
–0.5
0.1
–1.8

–0.2
–0.3
–1.1
–1.5

–0.2
–0.4
–0.2
–0.8

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
0.3
–0.5
0.4
–1.8
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
6.3
17.8
5.3

0.1
–0.4
0.4
–2.3

6.9
19.6
5.8
2015Q4
0.8
2015Q4
–

0.7
4.4
–0.7
–2.4
0.9
7.3
2015Q4

6.7
18.8
5.6
2016Q1
1.4
2016Q1
–

–0.2
3.6
–3.2
–6.2
1.8
5.5
2016Q1

6.5
18.3
5.5
2016Q2
–0.4
2016Q2
–

0
2.9
–1.8
–10.6
–0.9
6.7
2016Q2

6.4
17.9
5.4
2016Q3
:
2016Q3
–

–0.7
0.5
–3.2
–14.9
–0.2
5.3
2016Q3

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
2.3
5.9
–1
–16
3.2
6

7.1
20.2
5.9
2015Q3
0.7
2015Q3
–

0.7
5.5
2.8
–1.9
1.3
7.9
2015Q3

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

%

%

–1.4

51.8

–5.2

51.4

1.2

52.1

–1.2

53.8

:

:

Economic sentiment indicator (2) 

index

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
101.4
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

99.4

99.6

99.8

99.6

98.6

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

%

%

1.73

2.73

1.72

2.96

1.71

3

1.69

3.03

1.67

2.89

1.67

2.95

Average

4.25

4.29

4.41

4.40

4.29

4.31

2016M05
0.2
–0.4
1.1
–0.9
2016M05
6.3
17.7
5.3

Q/Q–4 % (3)

Q/Q–4 %
2016M05
–1.1
3.2
–2.6
–13.9
0.3
6.7

2016M05
99.8
2016M05
1.67

3.04

4.40

:
:
:
:

0
–0.2
0.4
0.7

0.1
–0.4
0.4
–0.9

–0.3
–0.6
–0.2
–0.8

6.2
17.1
5.2
2015Q3
3.7
2015Q3
1.1

6
16.5
5.1
2015Q4
2.9
2015Q4
1.8

2016M06 2016M07 2016M08 2016M09 2016M10
–0.2
–0.5
0
0.1
2016M06 2016M07 2016M08 2016M09 2016M10
5.9
16
5
2016Q1
3.3
2016Q1
1.2
2016M06 2016M07 2016M08 2016M09 2016M10
2.1
5.2
–4.7
–21.7
–0.6
10.8

5.7
15.8
4.9
2016Q2
2.5
2016Q2
1.1

:
:
:
2016Q3
:
2016Q3
:

–1.5
0.9
–0.6
–15.2
0.7
7.1

0.4
3.8
–3.6
–14.7
–0.5
6.3

–0.2
3.2
3.3
–16.1
0.7
8.6

:
:
:
:
:
:

99.7

2016M06 2016M07 2016M08 2016M09 2016M10
101.5
99.2
2016M06 2016M07 2016M08 2016M09 2016M10
1.71

101.2

1.69

99.8

1.71

1.71

:

3.11

2.89

2.71

2.85

:

4.40

4.40

4.30

4.32

4.31

(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 — 11/2016 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

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

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 

5.4 

Growth Rate
3.0

2.0

1.0

0.0

-1.0

-2.0

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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 

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

Mio  EUR

1500

1000

500

0

-500

-1000

-1500

%
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

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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 — 11/2016 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)

2015Q3
0.1

2015Q4
0.3

2016Q1
0.2

2016Q2
0.3

2016Q3
:

Q/Q–4 %

2015Q3
1.7

2015Q4
1.6

2016Q1
1

2016Q2
1.1

2016Q3
:

0.1

–1.9

0

0.6

1.6

–1.3

–0.1

–0.3

:

:

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

Q/Q–4 %

2.1

1.7

2.7

1.5

:

Q/Q–4 %
2016M05

3

:
–3.4
2016M06 2016M07 2016M08 2016M09 2016M10

–2.7

1.5

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

BOP Current account  
(all countries of the world)

mn euro

–1.9

19.5

8.2

–33.6

–45

104.1

23.5

–42.9

67.5

–109.6

–123.1

–98.9

–123.9

–117.4

–171.7

–7.3

–70.8

–128.2

–41.6

–229.2

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

1780

91

–392

–1148

:

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 %

–0.5
0.2
0.4
–2.9

–0.3
0.3
–1.2
–2.7

–0.4
0.6
–0.3
–3.5

–1.1
0.7
–0.5
–2.4

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
0.4
0.5
–0.3
–4.3
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
11.6
29.5
10.2

2.2
0.5
–0.2
–3.9

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

11.9
31
10.5
2016Q3
:
2016Q3
:

–1.2
0.3
–0.9
–6.5
–5.2
2.4
2016Q3

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
5.9
3.4
1.3
–2.9
1.5
3.2

12.3
32
10.7
2015Q3
–1
2015Q3
–0.1

–3.7
0.9
–0.4
–4.3
–1.9
0.8
2015Q3

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

%

%

–1.1

130.4

–7.2

129

–3

–2.5

128.9

131.7

:

:

Economic sentiment indicator (2) 

index

3–month interest rate
Long term government  
bond yields 

%

%

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
107.3
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

106.8

105.3

104.5

105.3

106

–

–

–

–

–

–

2016M05
0.4
0.4
0.3
–4.6
2016M05
11.2
28
9.9

Q/Q–4 % (3)

Q/Q–4 %
2016M05
–3.8
–2
–1.3
–4.2
–2.9
0.1

2016M05
105.2
2016M05
–

2016M06 2016M07 2016M08 2016M09 2016M10

:
:
:
:

–0.6
0.7
–0.5
–3.4

0.2
0.7
1.3
–3.3

0.7
0.7
0.1
–1.7

11
26.7
9.8
2015Q3
–1
2015Q3
0.4

10.9
27.2
9.6
2015Q4
2.2
2015Q4
1.8

0
0.8
–0.4
–2.9
2016M06 2016M07 2016M08 2016M09 2016M10
10.9
26.7
9.7
2016Q1
0.7
2016Q1
1.1
2016M06 2016M07 2016M08 2016M09 2016M10
1.3
2.8
1.3
–3.6
0.4
2.7

10.8
26.5
9.7
2016Q2
2.5
2016Q2
0.8

:
:
:
2016Q3
:
2016Q3
:

–0.6
–1.2
0.4
–3.4
1.2
3.7

1.9
1.3
–0.8
–4.1
3.6
3.6

–1.6
1.6
:
:
–2.1
2.6

:
:
:
:
:
:

2016M06 2016M07 2016M08 2016M09 2016M10
108.2
105.8
106.1
2016M06 2016M07 2016M08 2016M09 2016M10
–

106.4

106

–

–

–

–

2.57

2.49

2.71

3.23

2.84

3.13

3.15

3.2

3.06

2.91

3.26

:

(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 — 11/2016 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

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

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

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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 

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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
800

-1000

-1200

-1400

%
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

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

External trade balance  

BOP current account 

Long-term government bond yields - rates

Euro-dollar exchange rate

65

Eurostatistics — 11/2016 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)

External trade balance 
(extra EU28) (2)

BOP Current account  
(all countries of the world)

Q/Q–1 % (1)

2015Q3
1.6

2015Q4
1.2

2016Q1
1.5

2016Q2
1.5

2016Q3
:

Q/Q–4 %

2015Q3
3.6

2015Q4
3.8

2016Q1
4.3

2016Q2
6

2016Q3
:

Q/Q–1 % (1)

2

Q/Q–1 % (1)

–1.1

2.3

7.2

3.1

–2.4

3

6.6

:

:

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

Q/Q–4 %

6.4

7.3

9.5

10.8

:

Q/Q–4 %
2016M05

2.1

:
2.3
2016M06 2016M07 2016M08 2016M09 2016M10

17.6

10.7

32.4

19.2

–26.2

–48.4

–129.7

–79.8

–119.2

–47.2

–145.9

–150.8

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

–843.5 –1357.1

–701

–1325.7

:

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 %

0.3
–0.9
0
–2.3

–0.6
–1.5
–0.8
–2.4

0.2
–0.7
–0.3
–1.7

–0.3
–2.1
–1
–3.6

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
0
–2.6
–0.2
–3.3
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
6.1
20.4
5.1

0.2
–2.4
0.1
–3.8

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

6.4
21
5.3
2016Q3
:
2016Q3
–

0.8
–2
–1
–4.7
1.4
18.6
2016Q3

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
2.1
4.3
5.3
12.6
1.1
20.4

6.6
20.9
5.5
2015Q3
1
2015Q3
–

–0.1
2.5
3.3
9.8
2.4
14.6
2015Q3

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

%

%

0.4

36.6

–3.9

37.9

–2.5

37.2

–2.3

36.7

:

:

103.3

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
104.6
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
0.56

102.4

102.8

104.5

0.72

0.58

0.57

0.88

0.82

104

2016M05
0.3
–3
0.2
–3.1
2016M05
6.2
20.4
5.2

Q/Q–4 % (3)

Q/Q–4 %
2016M05
–4.2
–1.3
–2.6
8.5
–0.7
13.8

2016M05
103.6
2016M05
0.55

2016M06 2016M07 2016M08 2016M09 2016M10

–0.2
–0.7
0.6
–2.7

0
0.3
–0.4
–2.3
2016M06 2016M07 2016M08 2016M09 2016M10

–0.2
–0.3
–0.3
–2.5

–0.2
–0.1
0.3
–1.8

:
:
:
:

:
:
:
2016Q3
:
2016Q3
:

5.9
:
4.9
2016Q2
12
2016Q2
0.2

6
20.4
5
2015Q3
7.3
2015Q3
–1

6.1
:
5.1
2015Q4
11.4
2015Q4
–0.8

6
:
5
2016Q1
10.4
2016Q1
0.2
2016M06 2016M07 2016M08 2016M09 2016M10
0.5
2.7
–2.8
–5.8
0.2
11.8

2.2
–1.3
–1.3
1.5
1.6
16

0.8
1.1
–2
0.2
–0.4
13.6

:
:
:
:
0.1
9.7

:
:
:
:
:
:

103.6

2016M06 2016M07 2016M08 2016M09 2016M10
103.2
104.2
2016M06 2016M07 2016M08 2016M09 2016M10
:
0.58

103.5

0.57

0.53

104

0.6

3.49

3.62

3.6

3.33

3.34

3.49

3.43

3.48

3.14

2.93

2.92

:

Average

4.45

4.50

4.53

4.48

4.47

4.47

4.50

4.52

4.49

4.46

4.45

4.49

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 — 11/2016 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

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

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

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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 

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

External trade balance  

BOP current account 

%
5.0

4.0

3.0

2.0

1.0

0.0

-1.0

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

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 — 11/2016 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)

2015Q3
0.3

2015Q4
0.6

2016Q1
0.5

2016Q2
0.5

2016Q3
:

Q/Q–4 %

2015Q3
2

2015Q4
2.8

2016Q1
2.3

2016Q2
2.7

2016Q3
:

0.9

–0.4

0.1

0.4

0.5

–6

1

2.6

:

:

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

Q/Q–4 %

1.1

0.6

1.2

2.6

:

Q/Q–4 %
2016M05

–0.2

:
–7.8
2016M06 2016M07 2016M08 2016M09 2016M10

–3.6

5.4

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

BOP Current account  
(all countries of the world)

mn euro

132.4

116.8

161.1

86.6

94.8

141.7

177.9

130.2

91.5

150.8

–86.8

–73

–28.5

–101

–116

–58.2

–28.9

–67.5

–125.5

–94

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

641.2

459.9

728.9

826.4

:

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 

 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
–0.9
–0.4
–1.4

0.1
–0.9
–0.4
–1.3

–1.3
–0.8
–0.1
–1.5

–0.4
–0.6
–0.1
–1.4

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
0.3
–0.7
–0.1
–1.9
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
8
14.8
7.5

0.8
–0.9
–0.3
–1.9

8.4
16.8
7.7
2015Q4
1.5
2015Q4
0.4

–1
2.4
–23.2
–22.2
–0.3
0.9
2015Q4

8.3
16
7.7
2016Q1
0.7
2016Q1
0.6

4
6.1
–0.9
–25.9
1.2
1.8
2016Q1

8.3
16
7.7
2016Q2
0
2016Q2
0.6

0.3
6.3
–1.3
–29.7
–1.2
–1.3
2016Q2

8.3
16
7.7
2016Q3
:
2016Q3
:

–0.4
4.9
–7.6
–36
0.4
0.4
2016Q3

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
0.5
5.6
10.6
–27.4
1
1.8

8.3
16.8
7.7
2015Q3
–1
2015Q3
0.3

0.5
4.6
14.4
7
0.5
1.3
2015Q3

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

%

%

–1.9

84.3

–1.8

83.1

–3.4

83.5

0.5

82.3

:

:

Economic sentiment indicator (2) 

index

3–month interest rate
Long term government  
bond yields 

%

%

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
107.4
109.1
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

104.7

109.4

105.3

105

–

–

–

–

–

–

2016M05
0.8
–0.5
0.2
–1.8
2016M05
8
14.8
7.5

Q/Q–4 % (3)

Q/Q–4 %
2016M05
0.6
5.2
4.5
–19.5
–0.3
0.3

2016M05
104.8
2016M05
–

:
:
:
:

0.3
0.2
0.1
–1

0.5
0.1
0.1
–1.7

–0.9
–0.1
0
–1.7

8
14.8
7.5
2015Q3
–1.6
2015Q3
1.1

7.8
13.5
7.4
2015Q4
1
2015Q4
1.1

2016M06 2016M07 2016M08 2016M09 2016M10
–0.1
–0.2
0
–1.5
2016M06 2016M07 2016M08 2016M09 2016M10
7.8
13.5
7.4
2016Q1
0.8
2016Q1
1.6
2016M06 2016M07 2016M08 2016M09 2016M10
–0.5
5.9
–2.7
–14.5
0.1
3.5

7.7
13.5
7.3
2016Q2
1.8
2016Q2
2

:
:
:
2016Q3
:
2016Q3
:

0.5
6.2
0.2
–17.9
0.6
1.9

1.1
7
0.5
–14.7
0.9
3.3

:
:
:
:
–1.7
–0.1

:
:
:
:
:
:

105

106.7

2016M06 2016M07 2016M08 2016M09 2016M10
109.3
108.3
2016M06 2016M07 2016M08 2016M09 2016M10
–

107.3

–

–

–

–

1.66

1.61

1.61

1.59

1.48

1.37

1.41

1.36

0.95

0.8

0.75

:

(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 — 11/2016 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

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

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
2.0

1.0

0.0

-1.0

-2.0

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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 

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

Unemployment rate Total (%)

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

Mio  EUR

1000

800

600

400

200

0

-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

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

External trade balance  

BOP current account 

Long-term government bond yields - rates

Euro-dollar exchange rate

69

Eurostatistics — 11/2016 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)

2015Q3
1

2015Q4
1

2016Q1
0.8

2016Q2
0.9

2016Q3
:

Q/Q–4 %

2015Q3
3.7

2015Q4
4.3

2016Q1
3.4

2016Q2
3.7

2016Q3
:

0.8

4.5

0.7

2.6

0.6

–7.1

0.8

0.9

:

:

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

Q/Q–4 %

2.8

2.8

2.5

3

:

Q/Q–4 %
2016M05

17.3

:
1.5
2016M06 2016M07 2016M08 2016M09 2016M10

19.4

0

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

BOP Current account  
(all countries of the world)

mn euro

–39.1

–146.2

–63.3

–50.9

–67.7

–89.4

–61

–43.1

–130.6

–69.7

–276.4

–392.1

–308.7

–283.8

–246.5

–246.3

–295.5

–309.5

–315.8

–277.2

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

–502.2

148.9

–107.9

261.4

:

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 

 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
–0.4
0.2
–5.2

0.1
–0.3
–1.7
–4.8

–0.4
–0.5
–0.3
–4.6

–0.3
–0.6
–1.3
–5.3

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
0.4
–0.4
–0.1
–5.8
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
10
22.5
9

0
–0.5
–0.7
–6.2

10.6
25.3
9.5
2015Q4
2
2015Q4
0.5

0.2
5.7
5.1
25.8
0.3
2.7
2015Q4

10.4
24.6
9.2
2016Q1
0.2
2016Q1
0.6

–1.4
1.9
–7.3
16.2
–1.1
0.5
2016Q1

10.2
24.1
9.1
2016Q2
–0.7
2016Q2
0.6

3.2
7.1
1.4
18.7
0.1
0.4
2016Q2

10.1
23.3
9
2016Q3
:
2016Q3
:

–2.6
–1.8
–5.5
–0.5
1
2
2016Q3

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
3.9
7.4
–1.5
–4
0.4
3.7

10.9
25.8
9.7
2015Q3
–0.1
2015Q3
0.5

3.2
8.4
–6.9
15.6
0.3
3.2
2015Q3

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

%

%

–1.6

53.9

–4.4

52.9

–2

52.2

–1.7

53.3

:

:

Economic sentiment indicator (1) 

index

96.8

96.3

102.5

102.6

102.8

99.6

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

–

–

–

–

–

–

2016M05
–0.1
–0.7
0.3
–5.9
2016M05
9.9
21.8
9

Q/Q–4 % (3)

Q/Q–4 %
2016M05
0.1
9.1
–2.2
–9
0.4
4

2016M05
98
2016M05
–

:
:
:
:

0
–0.5
0.3
–3.3

0.1
–0.7
0.4
–4.6

–0.4
–0.9
0.1
–4.7

9.6
20.1
8.8
2015Q4
5.4
2015Q4
2

9.7
21
8.9
2015Q3
3.1
2015Q3
2.2

2016M06 2016M07 2016M08 2016M09 2016M10
–0.1
–0.8
–0.5
–4.9
2016M06 2016M07 2016M08 2016M09 2016M10
9.5
19.4
8.7
2016Q1
4
2016Q1
2.2
2016M06 2016M07 2016M08 2016M09 2016M10
28.2
17.5
6.7
–9.8
1
1.9

:
:
:
2016Q3
:
2016Q3
:

9.4
19.1
8.6
2016Q2
1.2
2016Q2
2.3

–17
–14
–10.9
–23.2
–1.1
–0.6

–0.8
2.4
1.7
–8.6
–0.1
2.6

:
:
:
:
0.1
1.5

:
:
:
:
:
:

98.6

103.9

2016M06 2016M07 2016M08 2016M09 2016M10
102.8
99.9
2016M06 2016M07 2016M08 2016M09 2016M10
–

103.4

–

–

–

–

0.71

0.72

0.71

0.56

0.43

0.38

0.41

0.77

0.49

0.3

0.32

:

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)

70

  Eurostatistics — 11/2016 edition 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
Slovakia

Graph 1: Output

Growth rate
30.0 

20.0 

10.0 

0.0 

– 10.0 

– 20.0 

Principal European Economic Indicators (PEEIs)

2

Graph 2: Demand

Growth rate
(PFC,I)

6.0 

3.0 

0.0 

– 3.0 

– 6.0 

– 9.0 

Index

110.0

105.0

100.0

95.0

90.0

85.0

Growth rate
(RT)

3 

2 

1 

0 

– 1

– 2

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

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

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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 

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

Unemployment rate Total (%)

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

Mio  EUR

300

200

100

0

-100

-200
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

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

External trade balance  

BOP current account 

Long-term government bond yields - rates

Euro-dollar exchange rate

71

Eurostatistics — 11/2016 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)

2015Q3
–0.3

2015Q4
0.4

2016Q1
0.3

2016Q2
0

2016Q3
:

Q/Q–4 %

2015Q3
–0.1

2015Q4
0.7

2016Q1
0.8

2016Q2
1.1

2016Q3
:

0.8

0.2

0.3

1.5

0.4

1

0.9

3.6

:

:

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

Q/Q–4 %

1.3

2

1.5

2.5

:

Q/Q–4 %
2016M05

–0.8

:
2016M06 2016M07 2016M08 2016M09 2016M10

1.8

7.1

1

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

BOP Current account  
(all countries of the world)

mn euro

244

281.7

91.2

229.2

261.2

199.7

177.1

174.9

173.5

189.6

617.3

641

517.1

550.5

634.1

478.1

506.5

574

527.3

516.5

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

816.6

292.8

–346.7 –1600.9

:

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
–0.2
–0.1
–2.7

–0.2
–0.2
–1
–2.4

–0.5
0
–0.3
–1.5

0.2
–0.1
–0.9
–3.5

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
0.3
0.3
0.1
–3.7
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
9
21.1
7.4

0.5
0
0.3
–3.6

9.4
21.7
7.7
2015Q3
–1.1
2015Q3
0.1

0.3
–0.5
1.2
6.7
1.3
3
2015Q3

9.3
21.7
7.6
2015Q4
0
2015Q4
0.1

1.1
2.1
–2.3
3
–0.7
1.9
2015Q4

9.2
21.6
7.6
2016Q1
1
2016Q1
0.3

–2
–1.6
1.7
6.2
0.3
1.8
2016Q1

9.1
21.4
7.5
2016Q2
–1.3
2016Q2
0

2
3.1
3.1
8
0.1
0.5
2016Q2

9.1
21.3
7.4
2016Q3
:
2016Q3
:

–2.3
–2.9
–0.9
3
0.3
0.5
2016Q3

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
2.1
1.9
1.8
7
–0.9
0

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

%

%

–2.1

61.4

–8.4

63.6

–1.2

64.2

2.6

61.6

:

:

Economic sentiment indicator (2) 

index

97.7

96.7

99.1

95.3

97.6

97.2

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

–

–

–

–

–

–

2016M05
–0.1
0.3
0.5
–3
2016M05
8.9
20.9
7.3

Q/Q–4 % (3)

Q/Q–4 %
2016M05
0.1
2.1
1.1
6.6
1.6
1.9

2016M05
96.8
2016M05
–

2016M06 2016M07 2016M08 2016M09 2016M10

:
:
:
:

0.2
0.5
0.2
–1

–0.1
0.5
–0.2
–2.8

0.1
0.3
0.4
–2.4

8.8
20.6
7.2
2015Q4
0.9
2015Q4
–0.2

8.9
20.8
7.3
2015Q3
0.8
2015Q3
–0.3

0
0.5
0.1
–1.9
2016M06 2016M07 2016M08 2016M09 2016M10
8.7
20.3
7.1
2016Q1
1.4
2016Q1
0.3
2016M06 2016M07 2016M08 2016M09 2016M10
–3.5
–2.8
:
:
–0.2
0.9

:
:
:
2016Q3
:
2016Q3
:

8.6
20.1
7
2016Q2
–2
2016Q2
0.5

0.8
3.2
–0.3
6.1
–0.6
1.1

0.8
5.3
–0.8
5.4
–0.1
0.9

:
:
:
:
1.1
3.1

:
:
:
:
:
:

98

2016M06 2016M07 2016M08 2016M09 2016M10
102.8
101
2016M06 2016M07 2016M08 2016M09 2016M10
–

104.9

98.5

–

–

–

–

0.81

0.86

0.78

0.53

0.53

0.46

0.45

0.33

0.12

0.06

0.08

:

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 — 11/2016 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

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

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

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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 

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

Unemployment rate Total (%)

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

Mio  EUR

1000

500

0

-500

-1000

-1500

-2000

%
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

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

External trade balance  

BOP current account 

Long-term government bond yields - rates

Euro-dollar exchange rate

73

Eurostatistics — 11/2016 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)

2015Q3
1

2015Q4
1.5

2016Q1
0.4

2016Q2
0.5

2016Q3
:

Q/Q–4 %

2015Q3
4.1

2015Q4
5.2

2016Q1
3.7

2016Q2
4.4

2016Q3
:

0.7

0.8

0.8

3.3

0.7

1.7

0

1.8

:

:

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

Q/Q–4 %

2.8

3.3

2.9

2.5

:

Q/Q–4 %
2016M05

6.1

:
7.2
2016M06 2016M07 2016M08 2016M09 2016M10

8.1

9

External trade balance 
(extra EU28) (2)

BOP Current account  
(all countries of the world)

1150.1

1561.8

1263.2

1172.6

1310.1

1411.1

1115.7

1122.8

1173

955.1

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

6982.7

5908.5

6117.3

3877.6

:

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 %

–0.2
0.8
–0.2
–1.7

–0.6
1.3
–0.2
–1.6

0.2
0.7
0.1
–1.9

0.3
0.8
–0.3
–2.4

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
0
1
–1
–2.5
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
6.7
18.4
5.1

0.5
1.2
0.5
–1.9

6.8
17.4
5.3
2015Q3
0.7
2015Q3
0.5

0.4
7.5
0.7
14
0.6
8
2015Q3

7.2
19.6
5.5
2015Q4
1.1
2015Q4
0.7

–2.7
1.6
1.2
16.8
–2.2
5.7
2015Q4

7
19.6
5.2
2016Q1
0.5
2016Q1
0.5

2.1
6.6
2.7
19.8
1
3.2
2016Q1

7.1
19.4
5.3
2016Q2
0.2
2016Q2
0.6

0
5.7
–1.7
13.3
0.1
2.8
2016Q2

7.2
19.3
5.5
2016Q3
:
2016Q3
:

0.5
5.7
2.3
15.5
–0.4
1.2
2016Q3

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
–0.1
3
–0.7
11.9
0.4
1.7

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

%

%

0.6

43.7

–2.5

43.9

0.5

42.8

2.7

43.2

:

:

109.8

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
107.5
106.4
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
–0.43

–0.37

–0.42

–0.47

112.2

108.9

107.7

–0.4

–0.3

2016M05
0.2
0.8
–0.2
–2.4
2016M05
7.1
20.1
5.3

Q/Q–4 % (3)

Q/Q–4 %
2016M05
–2.7
–1.9
1.1
12.2
2.7
5.2

2016M05
105.7
2016M05
–0.46

:
:
:
:

0.1
1.1
0
0.1

0.2
0.8
–0.1
0.7

0.1
1.2
1
–0.5

7
20.1
5.3
2015Q4
3.4
2015Q4
1.8

6.6
16.9
5.2
2015Q3
2.6
2015Q3
1.1

2016M06 2016M07 2016M08 2016M09 2016M10
–0.1
1.2
0.4
0.7
2016M06 2016M07 2016M08 2016M09 2016M10
7.2
19.6
5.5
2016Q1
3.3
2016Q1
1.7
2016M06 2016M07 2016M08 2016M09 2016M10
–3.8
–6.4
–10.8
5.1
0.4
2.1

:
:
:
2016Q3
:
2016Q3
:

6.7
17.4
5.3
2016Q2
2.5
2016Q2
2.3

1.3
1.9
6.5
16.4
–0.8
1

7.6
1.5
3.1
6.1
–0.5
0.5

–1
–2.9
0.9
15.4
–1.2
3.4

:
:
:
:
:
:

105.3

2016M06 2016M07 2016M08 2016M09 2016M10
105.8
107.3
103.8
2016M06 2016M07 2016M08 2016M09 2016M10
–0.52
–0.56

–0.55

–0.48

105.2

–0.5

0.8

0.93

1.02

0.77

0.82

0.81

0.77

0.52

0.17

0.1

0.22

:

Average

9.3133

9.2451

9.2826

9.4105

9.2848

9.2027

9.2948

9.3338

9.4742

9.4913

9.5655

9.7073

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 — 11/2016 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

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

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

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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 

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

Unemployment rate Total (%)

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions

Graph 6: Financial

Mio  EUR

7000

6000

5000

4000

3000

2000

1000

0

%
5.0

4.0

3.0

2.0

1.0

0.0

-1.0

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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 — 11/2016 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)

2015Q3
0.3

2015Q4
0.7

2016Q1
0.4

2016Q2
0.7

2016Q3
0.5

Q/Q–4 %

2015Q3
1.7

2015Q4
1.8

2016Q1
2.3

2016Q2
0.6

2016Q3
:

0.9

0.9

0.4

–1.3

0.7

–0.1

0.9

1.6

:

:

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

Q/Q–4 %

2.4

2.9

2.9

3.1

:

Q/Q–4 %
2016M05

4.6

:
–1.5
2016M06 2016M07 2016M08 2016M09 2016M10

1.3

1.3

External trade balance 
(extra EU28) (2)

BOP Current account  
(all countries of the world)

–2882.5

–202.2

–3178.2 –4801.7 –8585.9 –10944.8

–7636.9

–8446.3 –9029.7 –12139.5

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro –35744.1–42323.7–33220.4–33021.9:

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 (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

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
0.1
0.3
0.7
–3.7
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

–0.8
0.3
–1.1
–4.1

0.1
0.2
–1.2
–5.6

0.4
0.5
1.4
–4.2

0
0.1
–0.6
–7.1

0.2
0.3
0
–5

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
–

5
13.3
3.7
2016Q3
:
2016Q3
–

4.9
13.2
3.6

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

–0.8
0.4
–0.4
2.3
1.4
4.7
2015Q3

–4.6

88.3

–1.1
–0.3
3.2
4.2
–1.1
2.1
2015Q4

–5.6

89.1

0.8
0.6
–0.6
0
1.8
5.1
2016Q1

–0.4

87.8

–0.1
–1.1
0.2
4.8
–0.5
4.1
2016Q2

–5

89.1

0.5
0.4
–2.5
–0.6
–0.1
3
2016Q3

:

:

2.2
4.3
3.5
0.8
1.1
5

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
107.1
104.4
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

106.6

110.1

105

106

%

%

0.57

1.94

0.58

1.87

0.59

1.73

0.59

1.44

0.59

1.46

0.59

1.48

2016M05
0.2
0.3
0.8
–3.4
2016M05
4.9
13.5
3.5

Q/Q–4 % (3)

Q/Q–4 %
2016M05
–0.7
3.6
–2.3
2.2
1.2
5.9

2016M05
105.7
2016M05
0.59

2016M06 2016M07 2016M08 2016M09 2016M10

0.2
0.5
1.1
–2

–0.1
0.6
0.5
–0.8

0.3
0.6
0.1
1.5

:
:
0.4
1.8

:
:
:
:

:
:
:
2016Q3
:
2016Q3
:

4.9
13.5
3.5
2015Q3
4
2015Q3
1.6

:
:
:
2016Q2
2.5
2016Q2
2

4.9
13.5
3.6
2015Q4
4.3
2015Q4
1.9

2016M06 2016M07 2016M08 2016M09 2016M10
:
:
:
2016Q1
0.2
2016Q1
1.3
2016M06 2016M07 2016M08 2016M09 2016M10
–0.4
2.3
–1.3
–2.5
0.1
6.6

0.1
2.3
–4.7
–8.9
1.8
6.1

–0.3
0.3
:
:
0
4.3

0
1.1
–0.9
–0.5
–0.8
3.7

:
:
:
:
:
:

107

102.6

2016M06 2016M07 2016M08 2016M09 2016M10
105.8
104
2016M06 2016M07 2016M08 2016M09 2016M10
0.41

104.6

0.57

0.51

0.38

0.4

1.43

1.18

0.79

0.59

0.67

:

Average

0.70658 0.72595 0.75459 0.77559

0.7802

0.7923

0.77779

0.79049 0.84106 0.85521 0.85228 0.8939

3–month interest rate
Long term government  
bond yields 
Pound Sterling 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)

76

  Eurostatistics — 11/2016 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

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

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

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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 

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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 — 11/2016 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)

2015Q3
1.5

2015Q4
–1.3

2016Q1
1.0

2016Q2
0.0

2016Q3
:

Q/Q–4 %

2015Q3
2.6

2015Q4
0.2

2016Q1
0.6

2016Q2
2.5

2016Q3
:

0.1

0.7

0.5

–0.6

0.5

–1.6

0.4

0.1

:

:

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

Q/Q–4 %

2.1

1.8

1.2

2.8

:

Q/Q–4 %
2016M05

–4.4

:
–1.5
2016M06 2016M07 2016M08 2016M09 2016M10

–1.2

–2.2

External trade balance 
(rest of the world) 

BOP Current account  
(all countries of the world)

–

–

–

–

–

–

–

–

–

–

–

–

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

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 %

0.4
2.7
1.1
–3.0

0.5
3.1
0.8
–1.2

–0.4
2.4
–2.7
–4.4

0.6
3.3
–2.5
–5.6

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
0.3
3.5
1.0
–3.8
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
4.6
11.5
3.6

0.6
3.6
1.4
–4.0

4.5
10.0
3.7
2015Q4
–
2015Q4
–0.2

–0.8
–2.0
–
–
–1.3
–1.2
2015Q4

4.8
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

0.3
–0.7
–
–
–0.6
–0.9
2016Q2

4.7
11.7
3.6
2016Q3
–
2016Q3
:

–0.1
–1.7
–
–
–0.6
–1.7
2016Q3

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
0.8
6.0
–
–
0.1
–4.3

4.6
9.8
3.8
2015Q3
–
2015Q3
0.0

0.0
–1.7
–
–
0.3
0.8
2015Q3

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

%

%

5.3

31.1

3.1

32.0

6.9

32.9

6.2

35.3

:

:

Economic sentiment indicator (2) 

index

–

–

–

–

–

–

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
0.98

1.16

1.09

1.02

1.15

1.14

2016M05
0.4
3.7
1.7
–1.8
2016M05
4.7
11.5
3.7

Q/Q–4 %

Q/Q–4 %
2016M05
–0.5
1.5
–
–
1.7
2.0

2016M05
–
2016M05
0.98

:
:
:
:

0.7
4.1
2.0
1.3

0.7
5.0
–1.3
1.5

0.4
4.1
–0.7
1.1

4.8
10.9
3.9
2015Q3
–
2015Q3
0.1

5.0
11.1
4.0
2015Q4
–
2015Q4
–0.2

2016M06 2016M07 2016M08 2016M09 2016M10
–0.7
4.5
–1.1
2.0
2016M06 2016M07 2016M08 2016M09 2016M10
4.9
10.9
4.0
2016Q1
–
2016Q1
–0.1
2016M06 2016M07 2016M08 2016M09 2016M10
–4.7
–6.5
–
–
0.4
–1.1

:
:
:
2016Q3
–
2016Q3
:

:
:
:
2016Q2
–
2016Q2
–0.4

–4.1
–5.8
–
–
–0.7
0.0

:
:
–
–
–0.3
–0.6

4.6
0.5
–
–
–0.7
–1.4

:
:
–
–
:
:

–

2016M06 2016M07 2016M08 2016M09 2016M10
–
2016M06 2016M07 2016M08 2016M09 2016M10
1.11
1.08

1.02

1.01

1.09

–

–

–

1.63

1.55

1.45

1.39

1.33

1.30

1.40

1.17

0.96

1.07

1.23

1.34

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

%

%

Average

9.26

9.46

9.59

9.56

9.43

9.32

9.30

9.33

9.37

9.30

9.20

9.00

(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 — 11/2016 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 

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

Labour Cost Index 

Q/Q–1 % (1)

–

–

–

–

Q/Q–4 %

–

–

–

Employment

Q/Q–1 % (1)

0.0

–0.2

–0.1

–0.1

Q/Q–4 %

0.1

–0.2

–0.1

–0.4

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

2016M05

2016M06 2016M07 2016M08 2016M09 2016M10

Detailed PEEIs analysis for Norway

Indicators

Unit

Reference Period

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

GDP (volume)

Private final consumption 

(volume)

Q/Q–1 % (1)

Q/Q–1 % (1)

Investment (GFCF) (volume)

Q/Q–1 % (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 %

2.6

2.1

0.2

1.8

0.6

1.2

2.5

2.8

Q/Q–4 %

–4.4

–2.2

–1.5

–1.2

:

:

:

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

2016M05

2016M06 2016M07 2016M08 2016M09 2016M10

–

–

–

–

–

–

–

–

–

–

–

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

8021.9

5375.7

3773.2

3614.2

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

2016M05

2016M06 2016M07 2016M08 2016M09 2016M10

:

:

:

0.6

3.6

1.4

4.7

11.7

3.6

–0.1

–1.7

–

–

–0.6

–1.7

–

:

–

:

:

:

–

0.3

3.5

1.0

4.6

11.5

3.6

0.8

6.0

–

–

0.1

–4.3

–

0.98

1.30

0.4

2.7

1.1

–3.0

4.6

9.8

3.8

0.0

–1.7

–

–

0.3

0.8

5.3

31.1

–0.4

2.4

–2.7

–4.4

4.5

10.0

3.7

–0.8

–2.0

–

–

–1.3

–1.2

3.1

32.0

0.5

3.1

0.8

–1.2

4.8

11.1

3.7

1.3

0.9

–

–

0.7

0.5

6.9

32.9

0.6

3.3

–2.5

–5.6

4.7

11.1

3.7

0.3

–0.7

–

–

–0.6

–0.9

6.2

35.3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

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  

Economic sentiment indicator (2) 

index

–

–

–

–

–

–

–

–

–

–

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

2016M05

2016M06 2016M07 2016M08 2016M09 2016M10

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

2016M05

2016M06 2016M07 2016M08 2016M09 2016M10

1.15

1.63

1.14

1.55

1.16

1.45

1.09

1.39

1.02

1.33

0.98

1.40

1.02

1.17

1.01

0.96

1.08

1.07

1.09

1.23

1.11

1.34

Average

9.26

9.46

9.59

9.56

9.43

9.32

9.30

9.33

9.37

9.30

9.20

9.00

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)

0.4

3.7

1.7

–1.8

4.7

11.5

3.7

–0.5

1.5

–

–

1.7

2.0

0.7

4.1

2.0

1.3

4.8

10.9

3.9

–4.1

–5.8

–

–

–0.7

0.0

0.7

5.0

–1.3

1.5

5.0

11.1

4.0

4.6

0.5

–

–

–0.7

–1.4

–0.7

4.5

–1.1

2.0

4.9

10.9

4.0

–4.7

–6.5

–

–

0.4

–1.1

0.4

4.1

–0.7

1.1

:

:

:

–

:

:

–

–

–0.3

–0.6

:

:

:

:

:

:

:

:

:

:

:

:

–

–

–

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

2016M05

2016M06 2016M07 2016M08 2016M09 2016M10

–4.0

–3.8

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

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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 

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

BOP current account 

%
5.0

4.0

3.0

2.0

1.0

0.0

-1.0

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

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 — 11/2016 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)

2015Q3
0.2

2015Q4
0.5

2016Q1
0.3

2016Q2
0.6

2016Q3
:

Q/Q–4 %

2015Q3
0.8

2015Q4
0.5

2016Q1
1.1

2016Q2
2.0

2016Q3
:

0.3

0.1

0.0

–0.1

0.5

2.2

0.0

–0.7

:

:

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

Q/Q–4 %

1.2

0.8

1.2

1.0

:

Q/Q–4 %
2016M05

2.3

:
3.7
2016M06 2016M07 2016M08 2016M09 2016M10

1.5

0.1

External trade balance 
(all countries of the world) 

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

–

–

–

–

–

–

–

–

–

–

–

–

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

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 %

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
0.2
–0.5
0.1
–1.9
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

–0.1
–1.3
–0.3
–3.6

–0.7
–1.5
–0.1
–3.6

–0.4
–1.2
0.3
–3.6

0.2
–0.9
–0.5
–3.5

0.4
–1.0
0.0
–3.6

:
:
:
2015Q3
–
2015Q3
–0.3

:
:
:
2015Q4
–
2015Q4
1.4

:
:
:
2016Q1
–
2016Q1
0.3

:
:
:
2016Q2
–
2016Q2
0.5

:
:
:
2016Q3
–
2016Q3
:

:
:
:

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

–
–
2015Q3
:

–
–
2015Q4
:

–
–
2016Q1
:

–
–
2016Q2
:

–
–
2016Q3
:

–
–

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
–0.1
–2.1

–0.8
–0.5
2016Q1

–0.8
–1.0
2016Q2

–0.2
–1.5
2016Q3

0.7
–1.8
2015Q4

–0.7
–1.4
2015Q3

2016M05
0.1
–0.5
0.1
–1.0
2016M05
:
:
:

Q/Q–4 %

Q/Q–4 %
2016M05
–
–

Q/Q–4 %
2016M05
–0.2
–1.9

:
:
:
:

0.0
–0.3
0.1
–0.2

0.0
–0.6
0.1
–0.9

–0.1
–0.5
–0.1
–0.7

:
:
:
2015Q3
–
2015Q3
1.0

:
:
:
2015Q4
–
2015Q4
0.3

2016M06 2016M07 2016M08 2016M09 2016M10
0.0
0.0
–0.2
–0.3
2016M06 2016M07 2016M08 2016M09 2016M10
:
:
:
2016Q1
–
2016Q1
1.2
2016M06 2016M07 2016M08 2016M09 2016M10
–
–
2016Q1
:
2016M06 2016M07 2016M08 2016M09 2016M10
–0.1
–2.8

:
:
:
2016Q3
–
2016Q3
:

:
:
:
2016Q2
–
2016Q2
1.8

–
–
2015Q4
:

–
–
2016Q2
:

–
–
2015Q3
:

–
–
2016Q3
:

–0.5
–3.5

0.2
–2.3

–0.3
–3.3

:
:

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

%

%

1.3

–

1.4

–

0.6

–

0.9

–

:

–

Economic sentiment indicator (1) 

index

–

–

–

–

–

–

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
–0.73

%

%

–0.45

–0.30

–0.04

–0.31

–0.73

–0.80

–0.76

–0.83

–0.76

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

–0.39

–0.25

1.09

1.10

1.09

1.09

1.08

1.08

2016M05
–
2016M05
–0.74

–0.30

1.11

–

2016M06 2016M07 2016M08 2016M09 2016M10
–
2016M06 2016M07 2016M08 2016M09 2016M10
–0.73
–0.74

–0.78

–0.75

–0.75

–

–

–

–0.51

–0.54

–0.46

–0.52

–0.36

1.09

1.09

1.09

1.09

1.09

80

  Eurostatistics — 11/2016 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

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

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 

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

Graph 4: Prices

Growth Rate

3.0 

2.0 

1.0 

0.0 

1.0 
– 1 0

– 2.0 

– 3.0 

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

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

81

Eurostatistics — 11/2016 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 % 

2015Q3
0.5

2015Q4
0.2

2016Q1
0.2

2016Q2
0.4

2016Q3
0.7

Q/Q–1 % 

0.7

0.6

0.4

1.1

Q/Q–1 % 

1.2
2015M11

0.0
2015M12

0.2
2016M01

–0.7
2016M02

0.5

–0.3

2015Q3
2.2

2015Q4
1.9

2016Q1
1.6

2016Q2
1.3

2016Q3
1.5

3.1

3.6

2.6

3.2

2.4

2.7

2.7

0.6

2.6

–0.9

Q/Q–4 %

Q/Q–4 %

Q/Q–4 %

2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10

–56892.7 –56872.3 –57633.5 –57685.0 –50432.4 –50639.4 –53956.3 –57262.4 –53085.2 –52640.0 –50428.1

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro –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 

%

%

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

2016M02
0.2
1.0
–0.6
–3.6
2016M02
4.9
10.5
4.1
2016Q2
0.6
2016Q2
0.0
2016M02
–
–
:
:
–
–
2016Q2

–

–

–

–

–
2015M11
–
2015M11
0.37

2.26

–
2015M12
–
2015M12
0.53

–
2016M01
–
2016M01
0.62

–
2016M02
–
2016M02
0.62

2.24

1.09

2.08

1.09

1.77

1.11

2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10

–0.1
0.9
0.3
–3.7

–0.4
1.1
0.7
–2.8

–0.2
1.1
0.8
–3.3

–0.2
1.0
0.9
–2.9

0.0
0.9
–0.3
–2.9

–0.2
1.1
–0.4
–2.5

–0.3
1.5
0.4
–0.6

:
:
:
:

2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10

5.0
10.4
4.1
2016Q3
0.7
2016Q3
0.4

5.0
10.8
4.1

4.7
10.4
3.8

Q/Q–4 %

Q/Q–4 %

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

5.0
10.3
4.2
2016Q2
2.4
2016Q2
1.6

:
:
:
2016Q3
2.5
2016Q3
1.9

2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10

–
–
:
:
–
–

–
–
:
:
–
–

–
–
:
:
–
–

–
–
:
:
–
–

–
–
:
:
–
–

–
–
:
:
–
–

–
–
:
:
–
–

–
–
:
:
–
–
2016Q3

–

–

2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10

–

–

–

–

–

–

–

–

2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10

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

0.88

1.76

1.11

1.13

1.13

1.12

1.11

1.12

1.12

1.10

Euro-dollar exchange rate (6)

Avergae

1.07

(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 — 11/2016 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 

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

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

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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 

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

€/$

1.50

1.40

1.30

1.20

1.10

1.00

0.90

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

3-month interest rate

Long term government bond yields 

BOP current account 

External trade balance  

Euro-dollar exchange rate

83

Eurostatistics — 11/2016 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 % 

2015Q3
0.5

2015Q4
–0.4

2016Q1
0.5

2016Q2
0.2

2016Q3
:

Q/Q–4 %

2015Q3
1.8

2015Q4
0.8

2016Q1
0.1

2016Q2
0.8

2016Q3
:

0.5

0.2

–0.8

0.0

0.7

–0.4

0.2

1.1

:

:

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

Q/Q–4 %

0.5

–1.0

–0.3

0.5

:

Q/Q–4 %
2016M05

2.2

–0.3
2016M06 2016M07 2016M08 2016M09 2016M10

2.1

1.0

:

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

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

705.9

403.1

844.3

1194.7

1986.9

3029.0

2167.4

2841.9

2755.4

3228.7

3050.0

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

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

%

%

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
0.1
–0.3
–0.4
–4.0
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

–0.2
0.2
–0.4
–3.2

0.1
0.3
–0.1
–3.2

0.2
0.0
–1.2
–3.0

0.0
0.2
–0.5
–3.2

0.1
0.0
0.0
–3.5

3.3
5.1
–
2015Q3
0.5
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
0.0
2016Q2
0.1

3.2
5.8
–
2016Q3
:
2016Q3
0.6

3.2
4.9
–

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

–
–
:
:
–
–
2015Q3

–

–

–
–
:
:
–
–
2015Q4

–

–

–
–
:
:
–
–
2016Q1

–

–

–
–
:
:
–
–
2016Q2

–

–

–
–
:
:
–
–
2016Q3

–

–

–
–
:
:
–
–

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04

Economic sentiment indicator  

index

–

–

–

–

–

–

2015M11 2015M12 2016M01 2016M02 2016M03 2016M04
0.0

%

%

0.0

0.0

0.1

0.2

0.1

0.3

0.3

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

127.4

125.4

124.3

128.3

132.4

131.6

–0.1

–0.1

0.0

2016M05
0.1
–0.5
0.0
–4.2
2016M05
3.2
5.3
–

Q/Q–4 %

Q/Q–4 %
2016M05
–
–
:
:
–
–

:
:
:
:

–0.1
–0.3
0.3
–4.0

0.0
–0.5
–0.1
–3.2

0.2
–0.4
–0.1
–3.7

3.0
4.8
–
2015Q4
0.4
2015Q4
0.4

3.1
5.2
–
2015Q3
0.3
2015Q3
0.4

2016M06 2016M07 2016M08 2016M09 2016M10
0.1
–0.5
–0.2
–3.4
2016M06 2016M07 2016M08 2016M09 2016M10
3.1
5.4
–
2016Q1
1.1
2016Q1
0.7
2016M06 2016M07 2016M08 2016M09 2016M10
–
–
:
:
–
–

:
:
–
2016Q3
:
2016Q3
1.3

3.0
5.3
–
2016Q2
1.0
2016Q2
0.9

–
–
:
:
–
–

–
–
:
:
–
–

–
–
:
:
–
–

–
–
:
:
–
–

2016M05
–
2016M05
0.0

–0.1

123.2

–

2016M06 2016M07 2016M08 2016M09 2016M10
–
2016M06 2016M07 2016M08 2016M09 2016M10
0.0
0.0

0.0

0.0

0.0

–

–

–

–0.2

–0.3

–0.1

0.0

–0.1

118.5

115.3

113.5

114.2

114.5

84

  Eurostatistics — 11/2016 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 

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

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

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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 

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

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

2015M11

2016M01

2016M03

2016M05

2016M07

2016M09

BOP current account 

External trade balance  

%
5.0

4.0

3.0

2.0

1.0

0.0

-1.0

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

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 — 11/2016 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 cy uk

es bg cz

pl

sk hu ro

lu

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

lu

cy

lv hu us

si

fi

uk hr

sk

ee

es

pl dk eu28 be

at no ea19 de

jp bg 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

fr

fi

ro pt

cy

el

lt

lv mt

cz

ee hr be

sk

lu

at bg

si

pl hu se no ie dk

es

it

nl

ch eu28 jp de

  Eurostatistics — 11/2016 editionPrincipal European Economic Indicators (PEEIs)

2

Figure : Harmonized Index of Consumer Prices: all items, M/M–1
Monthly growth in percentage, 2016 M09

3.0 

2.0 

1.0 

0.0 

– 1.0 

it

at

lt

el

es

pt

ea

lv

no

lu

si

eu

hr

hu

fi

se

dk de

ee

pl

sk

ch

cz

fr

ro

be

ie

cy

nl

bg mt

Figure : Unemployment rates, harmonized rates: total
As a percentage of unemployed persons in the total number of active population, 2016 M09

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

ie

be

lt

eu28

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 M09

10.0 

8.0 

6.0 

4.0 
4 0

2.0 

0.0 

el

cy

hr

pt

ro

hu

pl

pl

bg

it

es eu28 lt

si

uk

ea mt

ie

sk

cz

se

be

fr

at

lv

fi

nl

dk

lu

de

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

87

Eurostatistics — 11/2016 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 9th  November 2016.

88

  Eurostatistics — 11/2016 edition