Eurostatistics. Data for short-term economic analysis. Issue number 1/2017.
Date: 2017-01-24
Institutions: Eurostat
Subjects: EU statistics, economic analysis, economic situation, economic statistics, short-term economic prospects

Eurostatistics

DATA FOR SHORT-TERM ECONOMIC ANALYSIS 

01/2017

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

Eurostatistics

DATA FOR SHORT-TERM ECONOMIC ANALYSIS

01/2017

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

Freephone number (*):

00 800 6 7 8 9 10 11

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

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

Luxembourg: Publications Office of the European Union, 2017

ISSN 1831-3221 
Cat. No KS-BJ-17-001-EN-N

Theme: General and regional statistics  
Collection: Statistical books

© European Union, 2017

Reproduction of content other than photos is authorised provided the source is acknowledged. For more information, please 
consult: http://ec.europa.eu/eurostat/about/policies/dissemination

© Cover photo: Shutterstock-isak55

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

Contents

Contents

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

Editorial   ................................................................................................................................................................................................................................................................................................................. 7

latest macroeconomic developments   .............................................................................................................................................................................................................................. 8

Growth forecasts for the euro area  .......................................................................................................................................................................................................................................... 9

cyclical indicators for the euro area  .................................................................................................................................................................................................................................... 10

latest cyclical estimates for the Ea and the EU  ...................................................................................................................................................................................................... 13

Methodological notes  ......................................................................................................................................................................................................................................................................... 16

2.  Principal European Economic Indicators (PEEIs)  ............................................................................................................................................................................................  19

cross-country comparisons  .......................................................................................................................................................................................................................................................... 88

Symbols and codes in the tables  ............................................................................................................................................................................................................................................ 90

Eurostatistics — 01/2017 edition  

5

1 1.  Summary analysis

Editorial 

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

The BEA’s third estimate revised up to 3.5  % the GDP 
annual growth rate of the US in Q3 2016 accelerating from 
1.4 % in Q2. The contribution to this expansion came from 
consumer spending on household services, exports of 
goods and services, private inventory investment and federal 
government spending. Partially offsetting these contributions 
to growth, residential housing investment and consumer 
spending on non-durable goods declined in Q3 2016.

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. The annual GDP growth rate remained stable at 
6.7 % in Q3 2016, unchanged since Q1 2016. The quarterly 
GDP growth accelerated in India with a rate of 1.8 % in Q3 
2016 following 1.5 % in Q2. Annual GDP growth nevertheless 
remained stable at 7.2 % in Q3 2016 compared to Q2. The 
economy in Brazil continued to contract in Q3 2016 with a 
GDP growth rate of – 0.8 % after – 0.4 % in Q2.  Q3 2016 was 
the seventh quarter of contraction in a row for Brazil. Annual 
GDP growth improved to – 2.9 % in Q3 2016 up from – 3.6 % in 
Q2. The economy decelerated in South Africa with a quarterly 
GDP growth rate of 0.1 % in Q3 2016, down from 0.9 % in Q2. 
Annual GDP growth remained constant with a rate of 0.7 % in 
Q3 2016. Concerning Russia, according to the Federal Statistics 
State Service (Rosstat), annual GDP growth improved to 
– 0.4 % in Q3 2016, from – 0.6 % in Q2. Q3 2016 was the seventh 
quarter of contraction in a row of the Russian economy.

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

GDP growth remained stable in the euro area in Q3 2016 with 
a quarterly rate of 0.3 %, unchanged compared to Q2. All the 
main GDP components contributed positively to this growth: 
general government final consumption (0.5 %), private final 
consumption (0.3 %), gross fixed capital formation (0.2 %) and 
export (0.1 %). Imports grew by 0.2 % in Q3 2016. Annual GDP 
growth rate was 1.7 % in Q3 2016, unchanged since Q1 2016. 

The flash estimate of the euro area annual inflation rate was 
1.1 % in December 2016, after 0.6 % in November 2016. Energy 
was the component with the highest annual growth, at 2.5 % 
in December compared with – 1.1 % in November.   

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 was 1.9 % in Q3 2016, also unchanged since Q1 2016..

Situation in the EU Member states:  
GDP grew in the 5 largest EU 
Member states in Q3 2016

In Q3 2016, GDP growth accelerated in Italy with a quarterly 
rate of 0.3 %, following 0.1 % in Q2. The annual GDP growth 
rate grew to 1.0 % in Q3 2016 from 0.8 % in Q2. France reported 
a quarterly GDP growth of 0.2 % in Q3 2016, coming after a 

Eurostatistics — 01/2017 edition  

7

1 Summary analysis

contraction of 0.1 % in Q2. The annual GDP growth rate slightly 
declined to 1.0 % in Q3 2016, from 1.1 % in Q2. 

GDP growth decelerated in Q3 2016 in Germany, in Spain 
and in the UK. Germany reported a quarterly GDP growth of 
0.2 % in Q3 2016, down from 0.4 % in Q2. Annual GDP growth 
remained at 1.7 % in Q3 2016, unchanged compared to Q2. The 

UK declared a quarterly GDP growth rate of 0.5 % in Q3 2016, 
decelerating from 0.7 % in Q2. The annual GDP growth rate 
nevertheless increased to 2.3 % in Q3 2016 from 2.1 % in Q2. 
GDP growth slightly decelerated in Spain with a quarterly rate 
of 0.7 % in Q3 2016 after 0.8 % in Q2. The annual GDP growth 
was 3.2 % in Q3 2016, down from 3.4 % in Q2.

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  an  
estimate  published  by Eurostat,  the  statistical office of the 
European Union. In the second quarter of 2016, GDP also grew 
by 0.3 % and 0.4 % respectively. Compared with the same 
quarter of the previous year, seasonally adjusted GDP rose 
by 1.7 % in the euro area and by 1.9 % in the EU28 in the third 
quarter of 2016, after also +1.7% and +1.9% respectively in the 
previous quarter. 

During the third quarter of 2016, GDP in the United States 
increased by 0.8 % compared with the previous quarter (after 
+0.4 % in the second quarter of 2016). Compared with the 
same quarter of the previous year, GDP grew by 1.6 % (after 
+1.3% in the previous quarter).

INDUSTRIAL PRODUCTION

In October 2016 compared with September 2016, seasonally 
adjusted industrial production fell by 0.1 % in the Euro area 
(EA19) and by 0.3 % in the EU28, according to estimates 
from Eurostat, the statistical office of the European Union. In 
September 2016 industrial production fell by 0.9 % in the euro 
area and by 0.7 % in the EU28. In October 2016 compared with 
October 2015, industrial production increased by 0.6 % in the 
euro area and by 0.5 % in the EU28.

CONSTRUCTION PRODUCTION

In November 2016 compared with October 2016, seasonally 
adjusted production in the construction sector increased by 
0.4 % in both the euro area (EA19) and the EU28. In October 
2016, production in construction grew by 0.4 % in the euro 
area and by 0.3 % in the EU28. In November 2016 compared 
with November 2015, production in construction remained 
stable in the euro area and rose by 0.2 % in the EU28.

RETAIL TRADE

In November 2016 compared with October 2016, the 
seasonally adjusted volume of retail trade fell by 0.4 % in the 
euro  area  (EA19)  and  by  0.1 %  in  the EU28,  according  
to  estimates  from  Eurostat,  the  statistical  office  of  
the  European Union . In October the retail trade volume 
increased by 1.4 % in the euro area and by 1.3 % in the EU28. In 
November 2016 compared with November 2015 the calendar 
adjusted retail sales index increased by 2.3 % in the euro area 
and by 3.4 % in the EU28.

INFLATION

Euro area annual inflation is expected to be 1.1 % in December 
2016, up from 0.6 % in November 2016 and 0.5 % in October. 
Euro area annual inflation was 1.1 % in December 2016, up 
from 0.6 % in November. In December 2015 the rate was 0.2 %. 
European Union annual inflation was 1.2 % in December 2016, 
up from 0.6 % in November. An earlier rate was 0.5 %.

UNEMPLOYMENT

The euro area (EA19) seasonally - adjusted unemployment 
rate was 9.8 % in November 2016, stable compared to October 
2016 and down from 10.5 % in November 2015. This is the 
lowest rate recorded in the euro area since July 2009. The 
EU28 unemployment rate was 8.3 % in November 2016, down 
from 8.4 % in October 2016 and from 9.0 % in November 
2015. This is the lowest rate recorded in the EU28 since 
February 2009. Eurostat estimates that 20.429 million men 
and women in the EU28, of whom 15.898 million were in the 
euro area, were unemployed in November 2016. Compared 
with October 2016, the number of persons unemployed 
decreased by 41000 in the EU28 and by 15000 in the euro area. 
Compared with November 2015, unemployment fell by 1.552 
million in the EU28 and by 972 000 in the euro area.

8

 Eurostatistics — 01/2017 edition

 
Summary analysis

1

INTEREST RATES

On 8 December 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, increase at 
-0.32 % in December, after two months stability at 0.31 % in 
November and October. Long-term interest rates (monthly 
average weighted 10-year government bond yield) of the 
euro area increased at 1.04 % in December after 1.01 % 

in November and 0.73 % in October 2016. The EU28 long-term 
interest rates increased to 1.28 % in December from 1.23 % in 
November 2016. 

EXCHANGE RATES

The euro / US dollar exchange rate (monthly average) 
decreased at USD 1.0543 in December after USD 1.0799 in 
November 2016. The euro increased against the Japanese yen 
in December 2016 with an exchange rate of Yen 122.39 for 
one euro. The euro decreased against the Swiss Franc at SF 
1.0750 in December from 1.0755 in November 2016. The euro 
/ UK Pound Sterling exchange decreased to GBP 0.84441 in 
December from GBP 0.8689 in November and from 0.8939 in 
October 2016.

Growth forecasts for the euro area

Steady growth in the euro area

According to the Eurogrowth Indicator the euro area growth 
is forecast to slightly accelerate in the turn of 2016 and 2017 to 
0.6% in the fourth quarter of 2016 and 0.5 % the first quarter of 
2017. The year-on-year growth rate is expected to be stable at 
2.1% in 2017Q1.

Most of the components have a positive impact on the 
indicator. The positive contribution of the confidence 
indicator in industry is stronger in 2016Q4, due mainly to the 
pick- up of the manufacturing survey in September. In 2017Q1, 
this contribution could fall back close to zero. However, this 
effect could be revised as new data are available. The effect of 
the household confidence, the main source of growth since 
2014, fluctuates around zero. The real euro/dollar exchange 
rate is still as it was in the previous quarter and has a neutral 
contribution on 2016Q4 and 2017Q1. The construction survey 
affects the Eurogrowth Indicators positively.

The moderate expansion path of the euro area seems stable 
in the near term despite the apparent risks to the outlook 
induced by the Brexit vote, the uncertainties regarding 
emerging countries and the weaknesses in the banking 
sector.

While the level of growth has remained steady, the driving 
forces behind these estimates have been changing. The 
positive impact of the real euro/dollar exchange rate had an 
important impact during the summer reflecting increased 
competitiveness of the euro area after the marked devaluation 
that occurred in the end of 2014 and in early 2015. But this is 
going to fade: The stabilization of the exchange rate around 
1.1 dollar for one euro since the first quarter of 2015 will drive 
its contribution to zero in the turn of 2015 and 2016. 

The contribution of the construction survey should turn 
positive in the fourth quarter of 2015 and in the first quarter of 
2016, reflecting better developments in the sector started one 
year ago. Meanwhile, the contribution from consumer survey 

remains at high levels, as in the previous quarter supported 
both by the continuous decrease in the unemployment rate 
since early 2013 and the new drop in energy prices since 
summer 2015. The industry survey is still having a positive 
contribution to the forecasts for the fourth quarter 2015 but 
losing impact in the beginning of 2016, which explains the 
deceleration of growth expected for the first quarter. 

All in all, none of the components of the indicator signals a 
substantial deceleration of euro area growth in the near term. 
The positive factors that have supported the recovery up to 
now remain active, such as the strong monetary stimulus from 
the ECB and the resulting low interest rates and weaker euro, 
together with cheaper energy prices, and less restrictive fiscal 
policy. However negative risks in emerging countries have 
risen, especially in China, which may question the outlook 
for foreign demand and reduce the momentum in industrial 
activity. Moreover, the terrorist attacks in Paris last November 
have brought back security concerns in many European 
countries. But for the time being, sentiment indicators have 
not been substantially affected by growing dangers. 

The €-coin  recorded in December its seventh consecutive 
increase (to 0.59 from 0.45 in November), the highest level 
recorded since March. The   indicator has benefitted from 
improvements in consumer and business confidence and 
from increased pipeline pressures on inflation.

The €-coin indicator developed by the Bank of Italy provides a 
summary index of the current economic situation in the euro 
area. The indicator is an estimate of quarterly GDP growth 
shorn of the most erratic components (seasonal variations, 
measurement errors and short-run volatility).

€-coin is published monthly by the Bank of Italy and CEPR. 

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

Eurostatistics — 01/2017 edition  

9

1 Summary analysis

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

2.5

2.0

1.5

1.0

0.5

0.0

2014Q4

2015Q2

2015Q4

2016Q2

2016Q4

2014Q4

2015Q2

2015Q4

2016Q2

2016Q4

GDP release

Euroframe

EuroCoin

GDP release

Euroframe

EuroCoin

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

Over previous quarter (q/q–1)

Over previous year (q/q–4)

2016Q2

2016Q3

2016Q4

2017Q1

2016Q2

2016Q3

2016Q4

2017Q1

Percentage change

EURoStat release

EURoFRaME

EurocoiN

0.3 

0.5 

0.3 

0.3 

0.5 

0.3 

:

0.6 

0.4 

:

0.5 

0.5 

1.7

1.9 

1.4 

1.7

1.8 

1.3 

:

1.9 

1.4 

:

2.1 

1.4 

Cyclical indicators for the euro area

Cyclical indicators pointing to 
accelerating growth

In December 2016, the Business Climate Indicator (BCI) 
for the euro area increased markedly (by 0.38 points to +0.79). 
Managers’ assessments of the past production improved 
sharply, as did, to a lesser extent, their views on the future 
production, overall and export order books and the stocks of 
finished products.

The OECD Composite leading indicators (CLIs) continue 
to point to growth momentum picking up in several 
advanced economies. The CLI for Germany anticipates growth 
gaining momentum. In the United States, Canada, and France 
the CLIs confirm the signs of growth gaining momentum 
flagged in last month’s assessment, with similar signals now 
also emerging in Japan. In the UK, there are tentative signs of 
growth gaining momentum, but the CLI remains below trend 
and uncertainty persists about the nature of the agreement 
the UK will eventually conclude with the EU. Stable growth 
momentum is anticipated in the OECD area as a whole as 

well as the euro area and in Italy. Amongst major emerging  
economies,  the  CLIs  signal  growth  gaining  momentum  
in  China,  Brazil and Russia, while signs of easing growth 
momentum are emerging in India.

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.

10

 Eurostatistics — 01/2017 edition

 
Summary analysis

1

Experts continued to assess the German economic situation 
as being the most positive. Assessments of the already 
favorable 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 favorable than in 
the last quarter. In France, Italy and Spain assessments of the 
unfavorable 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.

DZ BANK’s Euro-Indicator. The Euro -Indicator is now 
at 99. 5 points, as against (the slightly revised) 98.9 points 
in November. Compared to December 2015 the indicator 
is now up 0.7 percent as against a figure of +0.4 percent in 
November.

The IARC turning point indicator rose to 48.1 % in 
November after a revised index of 46.1 % in October, 
remaining largely below the significant 60 % threshold, 
signaling a possible downswing in the next nine months.

The start-end recession indicator (IESR) decreased to a 
low 0.5 % in October, showing no risk of a recession in the 
euro area.

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 bussiness climate indicator

Points of std-dev.

iFo

2016M8

2016M9

2016M10

2016M11

2016M12

100.18

100.24

100.32

100.40

98.2

0.03

98.4

0.44

98.7

0.56

99.0

0.41

:

:

0.79

2016Q1

2016Q2

2016QQ3

2016Q4

118.9

112.7

111.6

116.8

Figure 1: DZ-Euroland and IFO Business climate 
Indicators

Figure 2: DG-ECFIN Business climate Indicator

6

4

2

0

– 2

– 4

– 6

– 8

– 10

– 12

2007

2009

2011

2013

2015

DZ-Euroland-Indicator (left-hand scale)

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

IFO Indicator (right-hand scale)

140

130

120

110

100

90

80

70

60

50

10

5

0

– 5

– 10

– 15

– 20

– 25

2005

2007

2009

2011

2013

2015

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

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

2

1

0

– 1

– 2

– 3

– 4

– 5

Eurostatistics — 01/2017 edition  

11

1 Summary analysis

Figure 3: OECD Leading indicator

104

102

100

98

96

T

June
2003

P

T

P

T

Feb
2008

June
2009

May
2011

March
2013

T: trough / P: peak
in the reference 

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

Detrended GDP

OECD indicator

Table 3: Turning point indicators for the Euro Area

2016M5

2016M6

2016M7

2016M8

2016M9

2016M10

2016M11

IARC

IESR

0.82

0.72

0.60

0.34

0.61

6.76

0.66

2.35

0.49

1.10

0.47

0.50

0.48

:

Figure 4: IARC indicator

100
90
80
70
60
50
40
30
20
10
0

Probability 
for a trough

Probability for a  peak

5
1
-
n
a
J

5
1
-
b
e
F

5
1
-
r
a
M

5
1
-
r
p
A

5
1
-
y
a
M

5
1
-
n
u
J

5
1
-
l
u
J

5
1
-
g
u
A

5
1
-
p
e
S

5
1
-
t
c
O

5
1
-
v
o
N

5
1
-
c
e
D

6
1
-
n
a
J

6
1
-
b
e
F

6
1
-
r
a
M

6
1
-
r
p
A

6
1
-
y
a
M

6
1
-
n
u
J

6
1
-
l
u
J

6
1
-
g
u
A

6
1
-
p
e
S

6
1
-
t
c
O

6
1
-
v
o
N

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 5: IESR indicator

0.10

0.05

0.00

5
1
-
r
a
M

5
1
-
r
p
A

5
1
-
y
a
M

5
1
-
n
u
J

5
1
-
l
u
J

5
1
-
g
u
A

5
1
-
p
e
S

5
1
-
t
c
O

5
1
-
v
o
N

5
1
-
c
e
D

6
1
-
n
a
J

6
1
-
b
e
F

6
1
-
r
a
M

6
1
-
r
p
A

6
1
-
y
a
M

6
1
-
n
u
J

6
1
-
l
u
J

6
1
-
g
u
A

6
1
-
p
e
S

6
1
-
t
c
O

12

 Eurostatistics — 01/2017 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. 
The graphs presented in this section are reproduced from the previous publication - Eurostatistics 12/2016.

13

Eurostatistics — (cid:17)(cid:18)/201(cid:24) 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
5
0
0
2

1
M
1
0
0
2

1
M
3
0
0
2

Trend 

1
M
7
0
0
2

1
M
9
0
0
2

Cycle

1
M
1
1
0
2

1
M
3
1
0
2

1
M
5
1
0
2

1
M
5
9
9
1

1
M
7
9
9
1

1
M
9
9
9
1

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).
The graphs presented in this section are reproduced from the previous publication - Eurostatistics 12/2016. 

(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

14

  Eurostatistics — (cid:17)(cid:18)/201(cid:24) 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.
The graphs presented in this section are reproduced from the previous publication - Eurostatistics 12/2016. 

(Cycle)

8000 

6000 

4000 

2000 

0 

– 2000

– 4000

– 6000

15

Eurostatistics — (cid:17)(cid:18)/201(cid:24) 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).

16

 Eurostatistics — 01/2017 edition

 
Summary analysis

1

Trend-cycle decomposition

estimates for three indicators — GDP, industrial production, 
and employment — are produced using three different filters:

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 

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

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

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

Eurostatistics — 01/2017 edition  

17

2 2.  Principal European 

Economic Indicators 
(PEEIs)

The principal European economic indicators, abbreviated as PEEI, constitute a set of economic indicators for the European Union 
(EU) and its Member States which also are essential for monitoring the euro area. In 2002, Eurostat produced an initial list of of 19 
principal indicators, which has since been expanded to 26 (of which 22 are currently available); they are published regularly and 
posted on a specific PEEI page on the Eurostat website.

Eurostatistics — 01/2017 edition  

19

2 Principal European Economic Indicators (PEEIs)

Detailed PEEIs analysis for European Union (EU28)

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)

0.4

0.6

0.7

0.6

0.5

1

0.5

0.7

0

0.4

0.4

1.1

0.4

0.4

0.2

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2.1

2.2

3.4

2.4

2.1

4.3

1.9

2.3

1.7

2.1

2.4

3.9

1.6

2.1

1.7

External trade balance  
(extra EU28) (²)

BOP Current account  
(extra EU28)

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

mn euro

5198.2

2553.5

3656.1

2773.8

4074.8

2286.9

– 341.1

– 2106.4

27.2

3513.5

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

51512.2

57742.1

36739.4

48762.2

60250.4

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Inflation (Harmonized Index  
of Consumer Prices - All items)

Industrial producer prices

M/M–1 %

– 1.2

M/M–12 %

M/M–1 %

M/M–12 %

0.3

– 1.1

– 3.1

0.1

– 0.1

– 0.6

– 4.2

1

0

0.4

– 4.1

0.1

– 0.2

– 0.2

– 4.2

0.3

– 0.1

0.7

0.2

0.1

0.8

– 0.4

0.2

0.3

– 3.7

– 2.9

– 2.3

0.1

0.3

– 0.1

– 1.4

0.3

0.4

0.1

– 1.1

0.2

0.5

1

0.2

0

0.6

0.3

0.7

:

:

:

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Unemployment  
rate

total (²)

age <25year (²)

age >25 year (²)

%

%

%

8.9

8.9

19.3

19.2

7.8

7.8

8.7

18.9

7.7

8.7

18.9

7.6

8.6

18.9

7.6

8.6

18.8

7.5

8.5

18.9

7.5

8.5

18.8

7.4

8.4

18.6

7.4

8.4

18.7

7.3

8.3

18.8

7.3

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

Labour Cost Index

Q/Q–1 % (1)

0.3

0.7

0.3

0.3

0.6

Q/Q-4 % (³)

1.9

2.2

1.6

1.4

1.9

Employment

Q/Q–1 % (1)

0.4

0.4

0.3

0.3

0.2

Q/Q-4 %

1.1

1.3

1.4

1.4

1.1

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Industrial production

Production in construction

Retail trade deflated turnover

General government deficit (–)  
/surplus (+)

General government gross debt

M/M–1 % (1)

M/M–12 % (³)

M/M–1 % (1)

M/M–12 %

M/M–1 % (1)

M/M–12 % 

2.2

3.2

1.3

4.5

0.7

2.9

– 1.3

– 0.5

0.7

– 0.5

4

0.1

3.2

0.1

– 1.7

– 0.1

– 0.4

2.4

1.5

2.5

0.5

– 0.7

0.6

2.6

– 1.2

0.9

– 0.2

0.3

0.5

3

0.6

0.7

0.1

0.6

– 0.1

2.5

– 0.7

0.1

1.3

2.4

0.5

2.8

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

%

%

– 2

– 2.4

– 2.3

85.9

85

84.5

– 1.4

84.3

:

:

– 0.6

– 0.1

1.6

2.3

1.2

– 0.6

– 0.1

1.7

0

2.5

1.4

– 0.2

2

1.6

3.1

:

:

– 0.1

3.4

:

:

:

:

:

:

0.6

0.4

1.1

1.3

3.8

Economic sentiment indicator (²)

index

106.7

105.3

104.6

105.1

105.6

105.7

104.7

103.8

105.5

106.9

107.3

109.1

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

3-month interest rate

Long term government  
bond yields

%

%

Euro-dollar exchange rate

Average

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

-

-

-

-

-

-

-

-

-

-

-

-

1.42

1.09

1.28

1.11

1.19

1.11

1.19

1.13

1.18

1.13

1.08

1.12

0.85

1.11

0.78

1.12

0.83

1.12

0.95

1.10

1.23

1.08

1.28

1.05

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.
(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
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 — 01/2017 edition

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2 

European Union (EU28) 

 Graph 1: Output 

Growth rate 

  Graph 2: Demand 

Index

Growth rate (PFC,I)

Growth rate (RT)

4.0

3.0

2.0

1.0

0.0

-1.0

-2.0

115

110

105

100

95

90

85

5.0

4.0

3.0

2.0

1.0

0.0

-1.0

5.0

4.0

3.0

2.0

1.0

0.0

-1.0

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

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

GDP (q/q-1)

GDP (q/q-4)

PFC (q/q-1)

Industrial Production (m/m-1)

Industrial Production (m/m-12)

Investment (I)(q/q-1)

PFC (q/q-4)

I (q/q-4)

Economic Sentiment Indicator

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

RT (m/m-12)

Graph 3: Labour 

% 

9.8

9.4

9.0

8.6

8.2

  Graph 4: Prices 

Growth rate

Growth rate

3.0

2.0

1.0

0.0

-1.0

2.0

1.0

0.0

-1.0

-2.0

-3.0

-4.0

-5.0

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

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

Employment (q/q-1)

Employment (q/q-4)

Labour cost index (q/q-1)

Labour cost index (q/q-4)

Unemployment rate Total (%)

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 

70,000

60,000

50,000

40,000

30,000

20,000

10,000

0

-10,000

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

External trade balance

BOP current account

%

6.0

5.0

4.0

3.0

2.0

1.0

0.0

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

Long-term government bond yields

3-month interest rates

Euro-dollar exchange rates

€/$

1.600

1.400

1.200

1.000

0.800

0.600

0.400

Eurostatistics — 01/2017  __________________________________________________________________________

21

 
 
 
 
 
 
2 Principal European Economic Indicators (PEEIs)

Detailed PEEIs analysis for Euro area

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)

0.3

0.4

0.7

0.5

0.4

1.3

0.5

0.7

0.4

0.3

0.2

1.2

0.3

0.3

0.2

2

Q/Q- 4 %

Q/Q- 4 %

2.3

2

3

1.7

1.8

4.4

2.3

2.1

2.2

1.5

2.1

4.8

1.6

1.6

2.1

External trade balance (extra A19) (²) mn euro

20252.9 19693.1 24298.8 25032.9 23501.4 23247.2

20202.7

22890.6

24433

19697.7

:

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

BOP Current account (extra EA19)

mn euro

9463

14376

36771

35943

16387

39063

33500

22822

32246

32756

:

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Inflation (Harmonized Index  
of Consumer Prices - All items)

Industrial producer prices

M/M–1 %

– 1.4

M/M–12 %

0.3

M/M–1 %

– 1.1

0.2

– 0.2

– 0.7

1.2

0

0.3

M/M–12 %

– 2.9

– 4.1

– 4.1

0

– 0.2

– 0.4

– 4.4

0.4

– 0.1

0.7

0.2

0.1

0.7

– 0.6

0.2

0.4

– 3.8

– 3.1

– 2.6

0.1

0.2

– 0.2

– 1.9

0.4

0.4

0.1

0.2

0.5

0.8

– 1.5

– 0.4

– 0.1

0.6

0.3

0.1

:

:

:

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Unemployment  
rate

total (²)

age <25year (²)

age >25 year (²)

%

%

%

10.4

21.7

10.3

21.6

9.3

9.3

10.2

21.2

9.2

10.2

21.1

9.1

10.1

21.1

9.1

10.1

21

9

10

20.9

8.9

10

20.9

8.9

9.9

20.8

8.8

9.8

20.9

8.7

9.8

21.2

8.7

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

Labour Cost Index

Q/Q-1 % (1)

0.1

0.5

0.4

0.1

0.5

Q/Q- 4 % (³)

1.3

1.6

1.6

1

1.5

Employment

Q/Q–1 % (1)

0.4

0.3

0.3

0.4

0.2

Q/Q- 4 %

1.1

1.2

1.4

1.3

1.2

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

Industrial production

Production in construction

Retail trade deflated turnover

General government deficit (–)  
/surplus (+)

General government gross debt

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

M/M–1 % (1)

M/M–12 % (³)

M/M–1 % (1)

M/M–12 %

M/M–1 % (1)

M/M–12 % 

2.6

3.5

2.2

5.3

0.3

2.1

– 1.6

0.7

– 0.8

3.8

0.2

2.7

– 0.8

– 0.2

– 1.6

– 0.3

– 0.4

1.8

1.5

2.1

0

– 1

0.2

1.6

– 1.4

0.4

0.1

– 0.6

0.4

1.8

0.8

0.8

0.3

0.6

0

1.8

– 0.6

– 0.3

1.5

4.2

0.3

1.9

1.9

2.4

0.1

2.3

– 0.8

1.4

– 0.8

1.9

– 0.1

– 0.3

1.2

1

0.1

0.8

0.8

2.2

1.4

3

1.5

3.2

:

:

– 0.4

2.3

:

:

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

%

%

– 1.7

– 1.5

– 3

– 0.9

91.5

90.4

91.3

91.2

:

:

Economic sentiment indicator (²)

index

105.1

103.9

103

104

104.6

104.4

104.5

103.5

104.9

106.4

106.6

107.8

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

3-month interest rate

Long term government  
bond yields

%

%

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

– 0.15

– 0.18

– 0.23

– 0.25

– 0.26

– 0.27

– 0.29

– 0.3

– 0.3

– 0.31

– 0.31

– 0.32

1.16

1.04

0.92

0.92

0.91

0.81

0.62

0.58

0.63

0.73

1.01

1.04

Euro-dollar exchange rate

Average

1.086

1.1093

1.11

1.1339

1.1311

1.1229

1.1069

1.1212

1.1212

1.1026

1.0799

1.0543

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.
(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

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 — 01/2017 edition

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2 

Euro area 

 Graph 1: Output 

Growth rate 

4.0

3.0

2.0

1.0

0.0

-1.0

-2.0

  Graph 2: Demand 

Index

Growth rate (PFC,I)

Growth rate (RT)

110

105

100

95

90

85

5.0

4.0

3.0

2.0

1.0

0.0

-1.0

5.0

4.0

3.0

2.0

1.0

0.0

-1.0

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

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

GDP (q/q-1)

GDP (q/q-4)

PFC (q/q-1)

Industrial Production (m/m-1)

Industrial Production (m/m-12)

Investment (I)(q/q-1)

PFC (q/q-4)

I (q/q-4)

Economic Sentiment Indicator

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

RT (m/m-12)

Graph 3: Labour 

% 

11.5

11.0

10.5

10.0

9.5

  Graph 4: Prices 

Growth rate

Growth rate

3.0

2.0

1.0

0.0

-1.0

2.0

1.0

0.0

-1.0

-2.0

-3.0

-4.0

-5.0

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

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

Employment (q/q-1)

Employment (q/q-4)

Labour cost index (q/q-1)

Labour cost index (q/q-4)

Unemployment rate Total (%)

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 

50,000

40,000

30,000

20,000

10,000

0

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

External trade balance

BOP current account

%

5.0

4.0

3.0

2.0

1.0

0.0

-1.0

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

Long-term government bond yields

3-month interest rates

Euro-dollar exchange rates

€/$

1.600

1.400

1.200

1.000

0.800

0.600

0.400

Eurostatistics — 01/2017  __________________________________________________________________________

23

 
 
 
 
 
 
2 Principal European Economic Indicators (PEEIs)

Detailed PEEIs analysis for Belgium

Indicators

Unit

Reference Period

2015Q3

2015Q4

2016Q1

2016Q2

GDP (volume)

Private final consumption  
(volume)

Q/Q-1 % (1)

0.1

Q/Q-1 % (1)

– 0.3

Investment (GFCF) (volume)

Q/Q-1 % (1)

2.1

0.5

0.1

1.8

0.1

0

1.5

0.5

0.4

1.5

2016Q3
0.2

0.4

0

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

Q/Q- 4 %

Q/Q- 4 %

1.3

1

Q/Q- 4 %

– 4.3

1.6

1

2.5

1.2

0.5

– 5

1.3

0.3

7.1

1.3

0.9

5

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

External trade balance (extra A19) (²) mn euro

20252.9 19693.1 24298.8 25032.9 23501.4 23247.2

20202.7 22890.6

24433 19697.7

External trade balance  
(extra EU28)(²)

BOP Current account  
(all countries of the world)

Inflation (Harmonized Index  
of Consumer Prices - All items)

Industrial producer prices

:

:

:

:

mn euro

– 2392.8 – 2597.8 – 1787.1 – 2036.3 – 1722.6 – 1934.9

– 2442 – 1652.3 – 1476.9 – 1739.8

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

– 157

2615

1698

155

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

M/M–1 %

– 1.7

M/M–12 %

1.8

1.7

1.1

M/M–1 %

– 2.7

– 1.1

0.8

1.6

1.5

M/M–12 %

– 3.8

– 6

– 6.3

0.2

1.5

– 0.9

– 6.9

0.4

1.6

2.7

0.4

1.8

1.5

– 1.1

2

0.2

– 5.2

– 3.4

– 2.2

1.3

2

– 0.4

– 1.5

– 0.4

1.8

1.5

– 0.6

0.4

1.9

2.5

2.2

– 0.1

1.7

1.4

4.1

:

:

:

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Unemployment  
rate

total (²)

age <25year (²)

age >25 year (²)

%

%

%

8.3

8.1

20.4

20.4

7.2

7.2

8.1

20.4

7.2

8.3

20.8

7.3

8.3

20.8

7.2

8.2

20.8

7.2

8

20.7

7

7.9

20.7

6.8

7.6

20.7

6.6

7.6

:

6.6

7.6

:

6.6

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

Labour Cost Index

Q/Q-1 % (1)

0.0

0.1

– 0.1

0.1

0.2

Q/Q- 4 % (³)

0.1

0.1

0.2

0.1

0.3

Employment

Q/Q–1 % (1)

0.3

0.2

0.3

0.4

0.3

Q/Q- 4 %

1

1

1.1

1.2

1.2

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Industrial production

Production in construction

Retail trade deflated turnover

General government deficit (–)  
/surplus (+)

General government gross debt

– 1.4

– 0.5

– 0.8

– 2.7

M/M–1 % (1)

M/M–12 % (³)

M/M–1 % (1)

M/M–12 %

5.9

5.2

3.7

4.3

M/M–1 % (1)

– 1.5

6.5

– 1.6

– 1.1

0.4

M/M–12 % 

– 4

– 1.7

0.2

3.7

1.5

2.6

0.9

– 1.6

1.5

– 0.6

– 1.9

0.7

1.6

5.5

0.4

– 0.7

0.1

– 2.8

– 1.9

– 3.8

2.7

6.9

1.6

8.6

– 0.2

– 3.6

2.6

– 1.6

– 7.2

– 0.8

– 2.9

1.3

2.7

0.3

– 0.8

0.9

:

:

:

:

0.3

2.1

0

0.1

– 1

– 3.3

– 1.5

– 0.2

5.9

– 1.7

– 1.6

– 0.8

– 3.4

:

:

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

%

%

– 6

109

3.9

– 9.9

– 0.4

106

109.2

109.7

:

:

Economic sentiment indicator (²)

index

102

99.6

101.2

102.4

103.8

108.6

107.3

103.7

102.3

101.7

104.2

106.2

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

3-month interest rate

Long term government  
bond yields

%

%

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

:

:

:

:

:

:

:

:

:

:

:

:

0.86

0.72

0.62

0.55

0.55

0.43

0.2

0.15

0.18

0.27

0.57

0.61

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.
(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
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 — 01/2017 edition

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2 

Belgium 

 Graph 1: Output 

Growth rate 

9.0

6.0

3.0

0.0

-3.0

-6.0

  Graph 2: Demand 

Index

Growth rate (PFC,I)

Growth rate (RT)

115

110

105

100

95

90

3.0

2.0

1.0

0.0

-1.0

-2.0

3.0

2.0

1.0

0.0

-1.0

-2.0

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

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

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

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

Employment (q/q-1)

Labour cost index (q/q-1)

Unemployment rate Total (%)

  Graph 4: Prices 

Growth rate

Growth rate

1.5

1.0

0.5

0.0

-0.5

3.0

2.0

1.0

0.0

-1.0

-2.0

-3.0

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

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions 

  Graph 6: Financial 

Mio EUR 

3,000

2,000

1,000

0

-1,000

-2,000

-3,000

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

External trade balance

BOP current account

%

6.0

5.0

4.0

3.0

2.0

1.0

0.0

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

Long-term government bond yields

3-month interest rates

Euro-dollar exchange rates

€/$

1.600

1.400

1.200

1.000

0.800

0.600

0.400

Eurostatistics — 01/2017  __________________________________________________________________________

25

 
 
 
 
 
 
2 Principal European Economic Indicators (PEEIs)

Detailed PEEIs analysis for Bulgaria

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)

0.9

1.9

0.9

0.9

1.1

0.9

0.8

– 1

0.9

0.1

0.7

0.8

– 0.4

– 1.4

– 0.9

Q/Q- 4 %

Q/Q- 4 %

Q/Q- 4 %

3.8

6.4

3.4

3.6

7.5

7.4

3.6

2.5

1.4

3.5

1.2

3.2

1.6

– 0.3

– 6.9

External trade balance  
(extra EU28)(²)

BOP Current account  
(all countries of the world)

Inflation (Harmonized Index  
of Consumer Prices - All items)

Industrial producer prices

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

mn euro

13.1

– 51.8

– 57.4

– 95.8

– 138.8

– 99.8

– 84.4

– 227.2

– 131.9

– 159.2

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

1044.8 – 782.3

266.6

513.4

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

M/M–1 %

M/M–12 %

M/M–1 %

– 0.2

– 0.4

– 0.7

M/M–12 %

– 3

– 0.5

– 1

– 0.4

– 4

– 0.6

– 1.9

0.6

– 4

– 0.2

– 2.5

– 0.5

– 4.1

0

– 2.5

– 0.1

– 4.4

0.1

– 1.9

0.4

– 4.2

1

– 1.1

– 0.1

– 3.8

0

– 1.1

– 0.2

– 2.7

– 0.7

– 1.1

0.3

– 0.1

– 1

0.5

– 0.1

– 0.8

0.2

– 2.4

– 1.4

– 0.6

:

:

:

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Unemployment  
rate

total (²)

age <25year (²)

age >25 year (²)

%

%

%

7.9

8

18.9

17.8

7.3

7.5

8.1

16.1

7.6

8

15.4

7.6

8

15.7

7.6

7.9

17

7.4

7.6

18.4

7.1

7.5

20.1

6.8

7.3

21.1

6.6

7.2

21.6

6.5

7.1

22

6.3

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

Labour Cost Index

Q/Q-1 % (1)

0.7

1.5

2.5

2.1

1.7

Q/Q-4 % (³)

7.2

5.6

7.7

7.3

8.4

Employment

Q/Q-1 % (1)

0.1

0.1

0.3

0.5

– 0.7

Q/Q-4 %

0.2

0.3

0.9

1.5

– 1

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

Industrial production

Production in construction

Retail trade deflated turnover

General government deficit (–)  
/surplus (+)

General government gross debt

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

M/M–1 % (1)

M/M–12 % (³)

0.4

2.3

M/M–1 % (1)

– 1.9

M/M–12 % – 10.4

M/M–1 % (1)

M/M–12 % 

0.6

1.3

0.2

2.7

– 0.7

– 5.2

1.8

3.3

– 0.7

– 0.4

2.6

2.6

– 0.6

– 2.1

– 8.8

– 10.4

0.8

6.3

– 0.7

5.4

– 1.7

– 3.4

– 0.8

– 8.2

1.1

4

3.9

3.9

– 2.3

– 13.1

– 0.9

5.4

– 1.6

2.3

– 0.9

0.6

2.5

0.6

– 0.3

3.5

– 1.6

0.3

2.4

– 1

1.6

4.3

4.7

– 11.7

– 10

– 10.6

– 14

– 3.5

1.3

2.2

– 0.3

– 0.2

5.3

1.9

1.3

2.8

0.9

6

:

:

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

%

%

– 1.8

– 8.5

3

4.4

26.5

26

29.6

29.4

:

:

Economic sentiment indicator (²)

index

105

104.8

104.2

104.3

103.2

105.7

105.9

105.3

107

106.9

109.1

108.6

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

3-month interest rate

Long term government  
bond yields
New bulgarian Lev exchange  
rates against the euro

%

%

0.28

0.19

2.44

2.67

0.15

2.66

0.13

2.44

0.14

2.37

0.13

2.4

0.13

2.39

0.15

2.28

0.14

2.15

0.14

1.84

Average

1.96

1.96

1.96

1.96

1.96

1.96

1.96

1.96

1.96

1.96

0.14

1.82

1.96

0.12

1.8

1.96

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.
(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
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 — 01/2017 edition

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2 

Bulgaria 

 Graph 1: Output 

Growth rate 

4.0

2.0

0.0

-2.0

-4.0

  Graph 2: Demand 

Index

Growth rate (PFC,I)

Growth rate (RT)

115

110

105

100

95

4.0

2.0

0.0

-2.0

-4.0

-6.0

3.0

2.0

1.0

0.0

-1.0

-2.0

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

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

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 

% 

9.0

8.5

8.0

7.5

7.0

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

Employment (q/q-1)

Labour cost index (q/q-1)

Unemployment rate Total (%)

  Graph 4: Prices 

Growth rate

Growth rate

3.0

2.0

1.0

0.0

-1.0

-2.0

3.0

2.0

1.0

0.0

-1.0

-2.0

-3.0

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

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions 

  Graph 6: Financial 

Mio EUR 

1,500

1,200

900

600

300

0

-300

-600

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

%

6.0

5.0

4.0

3.0

2.0

1.0

0.0

Bulgarian Lev/€

1.970

1.960

1.950

1.940

1.930

1.920

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

Long-term government bond yields

3-month interest rates

External trade balance

BOP current account

Bulgarian Lev exchange rates against the euro

Eurostatistics — 01/2017  __________________________________________________________________________

27

 
 
 
 
 
 
2 Principal European Economic Indicators (PEEIs)

Detailed PEEIs analysis for Czech Republic

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

0.5

1.3

0.3

0.9

0.5

0.4

0.6

0.9

0.5

– 2.1

– 3.1

0.2

0.9

2.5

Q/Q-4 %

Q/Q-4 %

4.2

2.4

Q/Q-4 %

10.1

4.3

2.9

9.5

2.7

2.4

3.6

3

1.6

2.7

– 0.5

– 3.1

– 2.8

External trade balance  
(extra EU28)(²)

BOP Current account  
(all countries of the world)

Inflation (Harmonized Index  
of Consumer Prices - All items)

Industrial producer prices

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

mn euro

– 267.6 – 243.3

– 297.6 – 260.1

– 194.5 – 264.4

– 169.2

– 172.1

– 108.4

– 146

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

– 1312.9

539.7

4061.4

– 2.1

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

M/M–1 %

M/M–12 %

0.6

0.5

0.1

0.5

M/M–1 %

– 1.6

– 0.7

0

0.3

0

0.6

0.5

0.1

– 0.2

0

0.4

0.1

– 0.1

0.3

0.4

0.5

0

M/M–12 %

– 3.4

– 4

– 4.5

– 4.7

– 4.8

– 4.4

– 3.9

0.6

– 0.2

– 3.4

0.2

0.8

0.5

0.4

1.6

0.1

0.5

0.3

– 2.4

– 1.7

– 1.3

– 0.2

– 0.2

:

:

:

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Unemployment  
rate

total (²)

age <25year (²)

age >25 year (²)

%

%

%

4.3

10.4

3.9

4.2

9.9

3.8

4

9.9

3.7

4

10.1

3.6

4

10.7

3.6

4.1

11.6

3.6

4.1

11.1

3.6

3.9

11.4

3.4

3.9

10

3.5

3.8

10.6

3.3

3.7

10.6

3.3

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

Labour Cost Index

Q/Q-1 % (1)

– 0.8

6.0

– 3.2

2.0

3.2

Q/Q-4 % (³)

0.8

8.8

0.1

3.3

9

Employment

Q/Q–1 % (1)

:

:

:

:

:

Q/Q-4 %

1.3

1.3

1.9

1.6

1.7

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

Industrial production

Production in construction

Retail trade deflated turnover

General government deficit (–)  
/surplus (+)

General government gross debt

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

M/M–1 % (1)

M/M–12 % (³)

M/M–1 % (1)

3.7

4.2

0.6

M/M–12 %

– 7.8

M/M–1 % (1)

M/M–12 % 

1.3

6.2

– 0.8

1.8

1.1

– 3.3

– 0.2

5.2

1.5

4.1

– 3

– 1.3

– 0.1

1.4

– 3.3

1.4

2.3

2.3

4

– 3.1

– 9.6

– 7.3

1.2

– 11.1

– 15

– 9.4

– 12.5

– 10.8

– 0.4

5.1

1.1

6.3

– 0.4

4.4

1.4

6.3

– 0.1

5.1

11.7

– 1.6

– 0.3

7.9

0.7

– 7

0

5.8

2.8

– 1.2

– 7.8

0.8

5

0.7

– 1.4

– 7.3

– 0.3

3.2

1.8

4.5

2.8

– 3.5

1.9

6.6

:

:

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

%

%

0.8

– 2.6

– 0.8

1.8

40.7

40.3

40.4

39.8

:

:

Economic sentiment indicator (²)

index

107.3

105.9

104.8

104.2

104.8

104.5

104.8

105.6

106.1

106.7

109.6

109

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

3-month interest rate

Long term government  
bond yields
Czech Koruna exchange 
rates against the euro

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

%

%

0.29

0.28

0.62

0.46

0.29

0.35

0.29

0.43

0.29

0.46

0.29

0.45

0.29

0.37

0.29

0.29

0.29

0.25

0.29

0.37

0.29

0.55

0.29

0.53

Average

27.03

27.04

27.05

27.03

27.03

27.06

27.04

27.03

27.02

27.02

27.03

27.03

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.
(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
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 — 01/2017 edition

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2 

Czech Republic 

 Graph 1: Output 

Growth rate 

15.0

10.0

5.0

0.0

-5.0

-10.0

-15.0

  Graph 2: Demand 

Index

Growth rate (PFC,I)

Growth rate (RT)

115

110

105

100

95

90

85

10.0

5.0

0.0

-5.0

-10.0

-15.0

3.0

2.0

1.0

0.0

-1.0

-2.0

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

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

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 

% 

5.0

4.7

4.4

4.1

3.8

3.5

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

Employment (q/q-1)

Labour cost index (q/q-1)

Unemployment rate Total (%)

  Graph 4: Prices 

Growth rate

Growth rate

6.0

4.0

2.0

0.0

-2.0

-4.0

3.0

2.0

1.0

0.0

-1.0

-2.0

-3.0

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

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions 

  Graph 6: Financial 

Mio EUR 

4,500
4,000
3,500
3,000
2,500
2,000
1,500
1,000
500
0
-500
-1,000

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

%

6.0

5.0

4.0

3.0

2.0

1.0

0.0

Czech Koruna/€

29.0

28.0

27.0

26.0

25.0

24.0

23.0

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

Long-term government bond yields

3-month interest rates

External trade balance

BOP current account

Czech Koruna exchange rates against the euro

Eurostatistics — 01/2017  __________________________________________________________________________

29

 
 
 
 
 
 
2 Principal European Economic Indicators (PEEIs)

Detailed PEEIs analysis for Denmark

Indicators

Unit

Reference Period

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

GDP (volume)

Q/Q-1 % (1)

– 0.4

– 0.3

Private final consumption  
(volume)

Q/Q-1 % (1)

1

Investment (GFCF) (volume)

Q/Q-1 % (1)

– 1.1

0.3

1.6

0.8

0.7

2.1

0.3

0.2

0.1

0.4

– 0.1

0.2

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

1.5

2

2.4

0.5

1.9

0.7

0.3

2

4.3

0.9

2.7

3.9

1.1

1.4

4.2

External trade balance  
(extra EU28)(²)

BOP Current account  
(all countries of the world)

Inflation (Harmonized Index  
of Consumer Prices - All items)

Industrial producer prices

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

mn euro

1060.6

844.1

1040

1104.2

765.6

899.1

1060.3

907.1

584.7

547.9

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

7488.9

5947.5

3190.4

6257.2

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

M/M–1 %

– 0.5

M/M–12 %

M/M–1 %

0.4

1.7

M/M–12 %

– 2.3

0.5

0.1

– 2.6

– 6.4

0.1

0.2

0.2

– 0.3

– 0.3

– 0.1

0.8

– 5

0.5

0.3

– 4.9

– 4.2

0.1

0.1

2.5

– 1

– 0.1

– 0.4

0

0.1

– 1.3

0.4

0

– 0.3

– 0.1

– 1.4

0.3

– 0.7

0.3

0.1

1.7

0.5

– 0.2

0.1

1

2.4

:

:

:

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Unemployment  
rate

total (²)

age <25year (²)

age >25 year (²)

%

%

%

5.9

11.1

5

5.9

11.4

4.9

6

11.2

5

6.1

11.8

5.1

6.1

11.3

5.2

6.1

11.7

5.1

6.3

12.5

5.1

6.3

12.2

5.2

6.5

12.5

5.4

6.5

12.7

5.3

6.5

13.1

5.2

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

Labour Cost Index

Q/Q-1 % (1)

0.2

0.4

0.6

0.2

0.8

Q/Q-4 % (³)

1.7

1.5

1.9

1.4

2

Employment

Q/Q–1 % (1)

0.4

0.5

0.5

0.4

0.4

Q/Q-4 %

1.3

1.5

1.7

1.7

1.7

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

Industrial production

Production in construction

Retail trade deflated turnover

General government deficit (–)  
/surplus (+)

General government gross debt

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

M/M–1 % (1)

M/M–12 % (³)

M/M–1 % (1)

M/M–12 %

M/M–1 % (1)

M/M–12 % 

3

4.8

0.9

5.6

1.1

1.2

– 0.9

3

0.9

5.9

– 0.4

0.4

– 0.1

– 0.9

2.2

10.1

– 1.4

– 3.4

1.2

1.7

– 5.1

– 1.6

2.2

1.7

0.2

4

4.5

7.3

– 1

3.5

– 0.4

– 1.5

1.1

7.4

1

1.2

2.3

7

– 1.5

7.7

– 0.6

– 0.7

– 1

0.5

– 1

1.8

0

– 0.9

– 7.6

– 3.1

1.9

4.6

0.7

0.9

6.5

4.5

0.7

4.7

0.9

2

4.6

10.7

:

:

– 0.3

1

:

:

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

%

%

– 1.3

– 0.6

– 2.9

– 0.4

41.7

40.4

39.8

40.2

:

:

Economic sentiment indicator (²)

index

102.3

100.5

99.9

98.8

98.9

102.4

100

97.9

97.6

97.1

96.5

102.4

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

3-month interest rate

Long term government  
bond yields
Danish Krone exchange 
rates against the euro

%

%

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

– 0.06

– 0.08

– 0.08

– 0.09

– 0.09

– 0.17

– 0.19

– 0.21

– 0.19

– 0.2

– 0.18

– 0.2

0.79

0.55

0.51

7.46

0.4

7.44

0.41

7.44

0.23

7.44

0.07

0.04

0.01

7.44

7.44

7.45

0.13

7.44

0.32

0.39

7.44

7.44

Average

7.46

7.46

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.
(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
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 — 01/2017 edition

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2 

Denmark 

 Graph 1: Output 

Growth rate 

8.0

4.0

0.0

-4.0

-8.0

-12.0

  Graph 2: Demand 

Index

Growth rate (PFC,I)

Growth rate (RT)

110

105

100

95

90

85

5.0

3.0

1.0

-1.0

-3.0

-5.0

3.0

2.0

1.0

0.0

-1.0

-2.0

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

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

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

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

Employment (q/q-1)

Labour cost index (q/q-1)

Unemployment rate Total (%)

  Graph 4: Prices 

Growth rate

Growth rate

1.5

1.0

0.5

0.0

-0.5

-1.0

3.0

2.0

1.0

0.0

-1.0

-2.0

-3.0

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

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions 

  Graph 6: Financial 

Mio EUR 

7,000

6,000

5,000

4,000

3,000

2,000

1,000

0

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

%

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

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

Long-term government bond yields

3-month interest rates

External trade balance

BOP current account

Danish Krone exchange rates against the euro

Eurostatistics — 01/2017  __________________________________________________________________________

31

 
 
 
 
 
 
2 Principal European Economic Indicators (PEEIs)

Detailed PEEIs analysis for Germany

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)

0.2

0.6

0.1

0.4

0.4

1.6

0.7

0.6

1.6

0.4

0.2

– 1.6

0.2

0.4

0

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

1.8

2.2

1.7

2.1

2.1

4.1

1.5

2

3

3.1

2.7

4.4

1.5

1.5

1.3

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

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

BOP Current account  
(all countries of the world)

mn euro

17998.5 19708.7 21430.2

20935 19529.4 20772.1

18301.3 20140.7 19740.6

19587

mn euro

12833.6 14701.2 15524.3 15558.4 14356.1

15229

13503.5 14822.9 14636.4 14682.6

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

65959

73452

64695

72813

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Inflation (Harmonized Index  
of Consumer Prices - All items)

Industrial producer prices

M/M–1 %

M/M–12 %

– 1

0.4

M/M–1 %

– 0.8

M/M–12 %

– 2.3

0.4

– 0.2

– 0.5

– 3

0.8

0.1

0.1

– 3

– 0.5

– 0.3

0

– 3

0.4

0

0.3

0.1

0.2

0.5

0.4

0.4

0.2

– 2.7

– 2.1

– 1.9

– 0.1

0.3

– 0.1

– 1.6

0

0.5

– 0.2

– 1.4

0.2

0.7

0.7

– 0.4

0

0.7

0.3

0.1

:

:

:

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Unemployment  
rate

total (²)

age <25year (²)

age >25 year (²)

%

%

%

4.4

7.2

4.1

4.3

7.2

4

4.3

7.2

4

4.3

7.2

3.9

4.2

7.1

3.9

4.2

7

3.9

4.2

7

3.9

4.2

6.9

3.9

4.1

6.8

3.8

4.1

6.8

3.8

4.1

6.7

3.8

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

Labour Cost Index

Q/Q-1 % (1)

0.4

0.8

0.6

0.2

0.8

Q/Q-4 % (³)

2.5

2.9

2.8

1.9

2.5

Employment

Q/Q–1 % (1)

0.3

0.3

0.3

0.2

0.1

Q/Q-4 %

1

1.2

1.3

1.2

0.9

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

Industrial production

Production in construction

Retail trade deflated turnover

General government deficit (–)  
/surplus (+)

General government gross debt

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

M/M–1 % (1)

M/M–12 % (³)

M/M–1 % (1)

M/M–12 %

M/M–1 % (1)

M/M–12 % 

2.8

2.7

2.4

1

0.1

2

– 1.1

– 0.8

1.2

2.5

7.9

0.1

2

0.3

– 3.8

0.2

– 0.8

0.8

0.8

1

– 2

– 0.9

– 0.1

0.8

– 1.2

– 0.2

– 0.1

– 0.8

0.7

1.4

1.2

1.1

0.2

1

0

1.7

– 1.8

– 1.6

0.6

1.4

0.4

1.5

3.3

2.5

– 1.4

1.5

– 0.2

– 0.4

0.3

0

1.3

1

– 1.3

0

0.4

1.7

1.1

0.8

2.5

2.7

0.3

2.3

1.5

1.2

– 1.8

0.4

:

:

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

%

%

0.6

72

0.2

0.3

2.1

71.2

70.9

70.1

:

:

Economic sentiment indicator (²)

index

104.7

104.1

104

104.4

104.8

106.4

106.6

105.5

107.1

108.7

108

109.6

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

3-month interest rate

Long term government  
bond yields

%

%

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

:

:

:

:

:

:

:

:

:

0.43

0.17

0.17

0.13

0.13

-0.02

-0.15

-0.13

-0.09

:

0

:

:

0.19

0.25

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.
(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
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 — 01/2017 edition

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2 

Germany 

 Graph 1: Output 

Growth rate 

6.0

3.0

0.0

-3.0

-6.0

  Graph 2: Demand 

Index

Growth rate (PFC,I)

Growth rate (RT)

115

110

105

100

95

3.0

2.0

1.0

0.0

-1.0

-2.0

3.0

2.0

1.0

0.0

-1.0

-2.0

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

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

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

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

Employment (q/q-1)

Labour cost index (q/q-1)

Unemployment rate Total (%)

  Graph 4: Prices 

Growth rate

Growth rate

2.0

1.5

1.0

0.5

0.0

-0.5

3.0

2.0

1.0

0.0

-1.0

-2.0

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

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions 

  Graph 6: Financial 

Mio EUR 

80,000

60,000

40,000

20,000

0

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

External trade balance

BOP current account

%

5.0

4.0

3.0

2.0

1.0

0.0

-1.0

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

Long-term government bond yields

3-month interest rates

Euro-dollar exchange rates

€/$

1.600

1.400

1.200

1.000

0.800

0.600

0.400

Eurostatistics — 01/2017  __________________________________________________________________________

33

 
 
 
 
 
 
2 Principal European Economic Indicators (PEEIs)

Detailed PEEIs analysis for Estonia

Indicators

Unit

Reference Period

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

GDP (volume)

Q/Q-1 % (1)

– 0.5

Private final consumption  
(volume)

Q/Q-1 % (1)

Investment (GFCF) (volume)

Q/Q-1 % (1)

1.1

1.3

1.1

0.5

4.4

– 0.5

1.3

– 1.6

0.5

1.1

0.7

0.2

0.6

Q/Q-4 %

Q/Q-4 %

1.9

5.3

– 10.8

Q/Q-4 % – 2.7

0.8

2.3

0.1

1.5

3.9

– 1.2

0.7

4.6

5.6

1.3

4

– 8.3

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

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

BOP Current account  
(all countries of the world)

mn euro

34.2

16.5

90

77.5

61.9

62.5

54.5

71.6

51

67.7

mn euro

33.4

46.2

87.8

67.1

37.2

78

52

66.9

64.7

58.6

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

168.3

82.7

– 85.6

104.6

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Inflation (Harmonized Index  
of Consumer Prices - All items)

Industrial producer prices

M/M–1 %

– 0.2

M/M–12 %

M/M–1 %

M/M–12 %

0.1

4.5

0

0.8

0.4

– 5.2

– 5.1

0.8

0.5

1.6

– 3.9

0.1

0

– 0.9

– 4.9

0.4

0

0.6

0.5

0.4

1.6

– 3.5

– 2.5

0

0.8

– 2.3

– 3.3

0.1

1.1

0

0

1.7

0.6

– 0.5

1

2.6

– 3.9

– 2.5

– 0.4

0

1.4

1.2

1.8

:

:

:

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Unemployment  
rate

total (²)

age <25year (²)

age >25 year (²)

%

%

%

6.3

16.1

5.4

6.2

12.6

5.6

6.5

10.9

6.1

6.3

11.8

5.9

6.5

13.2

6

6.9

15.4

6.2

7

15.4

6.2

7.6

14.8

7

7.2

13.4

6.6

7.4

12.4

7

:

:

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

Labour Cost Index

Q/Q-1 % (1)

1.1

0.9

1.9

1.0

0.9

Q/Q-4 % (³)

6.3

4.6

7

4.7

4.5

Employment

Q/Q–1 % (1)

2.1

– 2.2

0.5

1.6

– 1

Q/Q-4 %

4.4

1.2

0.9

2

– 1.1

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

Industrial production

Production in construction

Retail trade deflated turnover

General government deficit (–)  
/surplus (+)

General government gross debt

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

M/M–1 % (1)

4.8

M/M–12 % (³) – 0.3

– 0.4

– 1.8

– 3.1

– 4.7

M/M–1 % (1)

M/M–12 %

M/M–1 % (1)

M/M–12 % 

–

–

1.8

8.9

–

–

–

–

– 2.2

– 1.7

5.8

2.5

5.3

0.5

–

–

2

5

– 3.2

– 2.1

– 2

– 3.6

–

–

1

5.4

–

–

– 1

3.1

4.7

2.2

–

–

0.3

1.5

– 0.3

1.2

–

–

– 0.6

1.5

4.2

5.8

–

–

1.4

3.2

– 0.5

4.7

–

–

0.9

3.1

1.5

9.3

–

–

1.7

6.5

:

:

–

–

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

%

%

2.1

0.1

– 1.1

10.1

10.1

9.9

1.9

9.7

:

:

Economic sentiment indicator (²)

index

101.3

99

99.2

99.5

99.7

100.3

102.1

101.3

102.9

104

102.6

103.9

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

3-month interest rate

Long term government  
bond yields

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

%

%

–

:

–

:

–

:

–

:

–

:

–

:

–

:

–

:

–

:

–

:

–

:

–

:

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.
(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
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 — 01/2017 edition

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2 

Estonia 

 Graph 1: Output 

Growth rate 

9.0

6.0

3.0

0.0

-3.0

-6.0

  Graph 2: Demand 

Index

Growth rate (PFC,I)

Growth rate (RT)

105

100

95

90

85

2.0
0.0
-2.0
-4.0
-6.0
-8.0
-10.0
-12.0

3.0

2.0

1.0

0.0

-1.0

-2.0

-3.0

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

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

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

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

Employment (q/q-1)

Labour cost index (q/q-1)

Unemployment rate Total (%)

  Graph 4: Prices 

Growth rate

Growth rate

4.0
3.0
2.0
1.0
0.0
-1.0
-2.0
-3.0
-4.0

6.0

4.0

2.0

0.0

-2.0

-4.0

-6.0

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

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

€/$

1.600

1.400

1.200

1.000

0.800

0.600

0.400

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

2016M01

2016M03

2016M05

2016M07

2016M09

2016M11

External trade balance

BOP current account

Euro-dollar exchange rates

Eurostatistics — 01/2017  __________________________________________________________________________

35

 
 
 
 
 
 
2 Principal European Economic Indicators (PEEIs)

Detailed PEEIs analysis for Ireland

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)

1.1

1.1

6.3

4

0.9

– 2.1

0.7

0.8

– 0.3

4

0.7

Q/Q-4 %

24.4

28.4

Q/Q-4 %

5.5

4.8

3.9

5.3

3.1

2.2

– 4.3

– 13.5

36.9

– 17.8

Q/Q-4 %

36.6

26.5

– 3.4

22.6

6.9

2.1

– 7

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

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

BOP Current account  
(all countries of the world)

mn euro

2232.7

2219.6

2432.9

2798.7

2049.6

2859.8

2631.7

2729.5

2516.6

3350.2

mn euro

2568.6

2593.6

2744.8

3121.2

2328.1

3303.6

2941

2991

2789.1

3702.7

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

6924

7167

8955

4643

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Inflation (Harmonized Index  
of Consumer Prices - All items)

Industrial producer prices

M/M–1 %

– 0.9

M/M–12 %

M/M–1 %

M/M–12 %

0

– 1.4

– 2.7

0.4

– 0.2

– 1.4

– 3.2

0.3

– 0.6

– 0.1

– 5.8

0.3

0.5

– 0.2

– 0.2

1.3

0.6

0.7

0.1

1.1

– 4.6

– 3.6

– 2.8

– 0.3

0.1

0.1

– 4

– 0.2

– 0.4

– 1.1

– 4.1

– 0.4

– 0.3

– 0.1

– 2.3

– 0.4

– 0.4

0.4

– 0.8

– 0.1

– 0.2

1.4

0.5

:

:

:

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Unemployment  
rate

total (²)

age <25year (²)

age >25 year (²)

%

%

%

8.5

17.9

7.6

8.4

17.4

7.5

8.3

17.2

7.5

8.4

17.5

7.4

8.3

17.5

7.4

8.3

17.7

7.3

8

17.8

7

7.9

17.6

6.9

7.7

16.7

6.7

7.5

16.2

6.6

7.3

15.4

6.5

7.2

14.5

6.5

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

Labour Cost Index

Q/Q-1 % (1)

0.0

– 0.5

1.3

– 0.2

0.1

Q/Q-4 % (³)

1.8

– 0.4

1.3

0.8

0.7

Employment

Q/Q–1 % (1)

0.6

0.4

0.8

1

0.6

Q/Q-4 %

2.9

2.3

2.4

2.9

2.8

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

Industrial production

Production in construction

Retail trade deflated turnover

General government deficit (–)  
/surplus (+)

General government gross debt

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

M/M–1 % (1)

19.1

– 16.8

– 16.7

M/M–12 % (³)

35.9

– 9.3

– 19.4

M/M–1 % (1)

M/M–12 %

M/M–1 % (1)

M/M–12 % 

–

–

0.8

6.3

–

–

0.7

6.8

–

–

– 0.2

6.1

21.7

0.8

–

–

0.4

3.1

– 7.3

– 0.7

–

–

1.4

6.4

6.8

1.7

–

–

– 1.4

4.4

7.7

5.1

–

–

0

3.1

– 13.8

7.9

– 7.5

– 0.4

–

–

0.8

3.7

–

–

0.7

3.2

– 2.2

– 4.7

–

–

– 0.5

3.7

16.3

14.6

–

–

3.5

5.6

:

:

–

–

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

%

%

– 1.4

– 2.3

– 2.3

85.6

78.6

80.5

0.3

77.8

:

:

Economic sentiment indicator (²)

index

–

–

–

–

–

–

–

–

–

–

–

–

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

3-month interest rate

Long term government  
bond yields

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

%

%

–

–

–

–

–

–

1.05

0.99

0.85

0.86

0.84

0.76

–

0.47

–

0.4

–

0.42

–

0.5

–

–

0.85

0.84

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.
(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
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 — 01/2017 edition

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ireland 

 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)

Growth rate (RT)

40.0

30.0

20.0

10.0

0.0

-10.0

-20.0

6.0

4.0

2.0

0.0

-2.0

-4.0

-6.0

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

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

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

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

Employment (q/q-1)

Labour cost index (q/q-1)

Unemployment rate Total (%)

  Graph 4: Prices 

Growth rate

Growth rate

1.5

1.0

0.5

0.0

-0.5

-1.0

3.0

2.0

1.0

0.0

-1.0

-2.0

-3.0

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

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions 

  Graph 6: Financial 

Mio EUR 

10,000
9,000
8,000
7,000
6,000
5,000
4,000
3,000
2,000
1,000
0

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

External trade balance

BOP current account

%

6.0

5.0

4.0

3.0

2.0

1.0

0.0

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

Long-term government bond yields

3-month interest rates

Euro-dollar exchange rates

€/$

1.600

1.400

1.200

1.000

0.800

0.600

0.400

Eurostatistics — 01/2017  __________________________________________________________________________

37

 
 
 
 
 
 
2 Principal European Economic Indicators (PEEIs)

Detailed PEEIs analysis for Greece

Indicators

Unit

Reference Period

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

GDP (volume)

Private final consumption  
(volume)

Q/Q-1 % (1)

– 1.6

Q/Q-1 % (1)

– 5.8

Investment (GFCF) (volume)

Q/Q-1 % (1)

6.4

1.3

5.1

20

– 0.6

– 0.2

0.4

– 0.1

– 15.8

9.7

0.8

0.3

1.7

Q/Q-4 % – 2.3

0.9

– 0.9

– 0.4

Q/Q-4 % – 3.8

– 0.6

– 1.9

– 0.8

1.6

5.7

Q/Q-4 % – 4.8

11.3

– 10.5

17.2

14.8

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

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

BOP Current account  
(all countries of the world)

mn euro

– 725.5 – 959.4 – 603.1 – 1275.4

– 807.2 – 782.5

– 891.7

– 633.1

– 675.5 – 1082.9

mn euro

– 636.9 – 834.1

– 497.9 – 1143.4

– 661.9 – 644.9

– 760.2

– 501.6

– 547 – 990.3

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

5634

– 1688

– 2372

– 420

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Inflation (Harmonized Index  
of Consumer Prices - All items)

Industrial producer prices

M/M–1 %

M/M–12 %

M/M–1 %

– 1.7

– 0.1

– 2.9

M/M–12 %

– 6.3

0

0.1

– 0.5

– 9.9

1.1

0.7

0

– 0.7

– 0.4

– 0.2

0.2

1.3

1.3

0.2

0.5

– 8.8

– 8.1

– 7.3

1.8

– 9

– 1.2

0.2

– 1

– 7

0

0.4

– 0.2

– 4.1

0.7

– 0.1

0.4

0.4

0.6

1.5

– 3.2

– 1.3

– 1.5

– 0.2

– 0.7

– 2.1

:

:

:

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Unemployment  
rate

total (²)

age <25year (²)

age >25 year (²)

%

%

%

24.3

51

22.8

23.9

50.5

22.4

23.8

49.9

22.3

23.5

49.8

22

23.6

49.4

22.1

23.4

46.4

22.1

23.3

43.5

22.1

23.3

44.7

22

23.1

44.4

21.9

23

44.2

21.8

:

:

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

Labour Cost Index

Q/Q-1 % (1)

6.1

0.3

– 2.2

1.3

1.9

Q/Q-4 % (³)

2.7

– 1.5

0.9

4.8

0.5

Employment

Q/Q–1 % (1)

:

:

:

:

:

Q/Q-4 %

0.3

0.2

2.2

1.4

1.4

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

Industrial production

Production in construction

Retail trade deflated turnover

General government deficit (–)  
/surplus (+)

General government gross debt

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

M/M–1 % (1)

– 1.4

– 4.4

M/M–12 % (³)

4.4

– 3

M/M–1 % (1)

M/M–12 %

–

–

M/M–1 % (1)

– 0.7

M/M–12 % 

– 1.7

–

–

– 3.4

– 6.8

– 0.3

– 3.8

–

–

4.1

3.4

–

–

4.3

– 0.6

– 1.2

– 2

– 4.2

3.4

–

–

– 1.7

– 6.3

4

8

–

–

1

– 3.6

– 0.4

4.7

–

–

4.9

9.5

0.7

0.1

–

–

– 4.1

– 2.1

– 1.9

0.1

–

–

1.7

2.4

4.6

7.2

–

–

0.4

2.4

– 0.9

2.3

–

–

:

:

:

:

–

–

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

%

%

– 1.8

– 15.4

– 3.6

0.4

171.8

177.1

176.1

179.2

:

:

Economic sentiment indicator (²)

index

91.6

89

90.1

90.3

89.7

89.7

90.9

92.5

91.4

93.8

92.4

94.6

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

3-month interest rate

Long term government  
bond yields

%

%

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

–

–

–

–

–

–

–

–

–

–

–

–

9.08

10.41

9.12

9.03

7.64

7.92

7.99

8.19

8.34

8.33

7.33

6.94

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.
(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
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 — 01/2017 edition

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2 

Greece 

 Graph 1: Output 

Growth rate 

9.0

6.0

3.0

0.0

-3.0

-6.0

  Graph 2: Demand 

Index

Growth rate (PFC,I)

Growth rate (RT)

95

90

85

80

75

70

30.0

20.0

10.0

0.0

-10.0

-20.0

6.0

4.0

2.0

0.0

-2.0

-4.0

-6.0

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

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

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 

% 

25.0

24.5

24.0

23.5

23.0

22.5

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

Employment (q/q-1)

Labour cost index (q/q-1)

Unemployment rate Total (%)

  Graph 4: Prices 

Growth rate

Growth rate

3.0

1.0

-1.0

-3.0

2.0

1.0

0.0

-1.0

-2.0

-3.0

-4.0

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

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions 

  Graph 6: Financial 

Mio EUR 

0

-500

-1,000

-1,500

-2,000

-2,500

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

External trade balance

BOP current account

%

12.0

10.0

8.0

6.0

4.0

2.0

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

Long-term government bond yields

3-month interest rates

Euro-dollar exchange rates

€/$

1.600

1.400

1.200

1.000

0.800

0.600

0.400

Eurostatistics — 01/2017  __________________________________________________________________________

39

 
 
 
 
 
 
2 Principal European Economic Indicators (PEEIs)

Detailed PEEIs analysis for Spain

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)

0.9

1

0.7

0.8

0.7

0.9

0.8

0.8

0.9

0.8

0.7

1.1

0.7

0.6

0.1

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

3.5

3.7

6.6

3.3

2.8

6

3.6

3.6

4.5

3.5

3.2

3.8

3.3

2.8

2.6

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

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

BOP Current account  
(all countries of the world)

mn euro

– 1402.1 – 1338.1

– 1257

– 617.9

– 1011 – 1570.7

– 1009.3 – 1533.4

– 946.9 – 1812.3

mn euro

– 1773.7 – 1678.9 – 1607.8

– 1045 – 1364.2 – 1893.7

– 1612.5 – 1875.4

– 1475 – 2048.1

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

5724

7034

– 600

7274

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Inflation (Harmonized Index  
of Consumer Prices - All items)

Industrial producer prices

M/M–1 %

M/M–12 %

M/M–1 %

M/M–12 %

– 2.5

– 0.4

– 2.6

– 4.3

– 0.4

– 1

– 1.1

– 5.6

2

– 1

0.6

0.5

– 1.2

– 0.2

0.5

0.4

– 1.1

– 0.9

0.9

1.9

– 5.4

– 6

– 5.5

– 4.5

– 1.3

– 0.7

0

– 4.6

0

– 0.3

– 0.2

– 3.1

0.7

0

0.3

– 2

0.8

0.5

1.5

0.3

0.2

0.5

0.2

0.6

:

:

:

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Unemployment  
rate

total (²)

age <25year (²)

age >25 year (²)

%

%

%

20.5

45.9

18.8

20.5

20.3

46

18.7

46

18.5

20.3

46.2

18.5

20.1

45.8

18.3

19.9

45.2

18.1

19.5

44

17.8

19.4

43.4

17.7

19.3

43

17.6

19.2

43.8

17.4

19.2

44.4

17.4

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

Labour Cost Index

Q/Q-1 % (1)

– 0.1

0.5

0.1

– 0.1

0.2

Q/Q-4 % (³)

0

1.6

0.4

0.5

0.4

Employment

Q/Q–1 % (1)

0.6

0.5

0.8

0.6

0.8

Q/Q-4 %

2.7

2.5

2.8

2.6

2.8

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Industrial production

Production in construction

Retail trade deflated turnover

General government deficit (–)  
/surplus (+)

General government gross debt

– 0.2

– 0.6

M/M–1 % (1)

– 0.1

– 0.5

M/M–12 % (³)

M/M–1 % (1)

3.4

2.5

M/M–12 %

20.4

M/M–1 % (1)

M/M–12 % 

0.5

3.7

1.8

– 0.8

12.8

0.3

4.2

1.5

3.6

2.8

– 1.1

– 2.6

7.3

0.3

4.6

– 6

0.3

4.3

1.1

2.7

2.7

– 0.2

2.1

0.1

0.3

0.9

5.1

1

5.7

– 0.2

– 0.9

2.1

15.8

0.4

5.3

2

4.4

– 3.1

– 4.3

– 0.3

3.3

– 1.2

0.2

1.4

4.5

0.1

3.2

0.3

0.2

0

3.1

– 0.1

2.1

1.7

3.7

:

:

0.4

3.2

:

:

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

%

%

– 0.6

– 7.9

– 3.1

– 9.1

99.7

99.3

100.6

100.5

:

:

Economic sentiment indicator (²)

index

107.8

107.3

106.9

106.1

105.7

106.5

106

104.5

105

107.6

108.4

106.2

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

3-month interest rate

Long term government  
bond yields

%

%

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

–

–

–

–

–

–

–

–

–

–

–

–

1.72

1.72

1.54

1.53

1.57

1.48

1.17

1.01

1.04

1.07

1.43

1.44

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.
(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
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 — 01/2017 edition

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2 

Spain 

 Graph 1: Output 

Growth rate 

9.0

6.0

3.0

0.0

-3.0

-6.0

  Graph 2: Demand 

Index

Growth rate (PFC,I)

Growth rate (RT)

120

115

110

105

100

95

6.0

4.0

2.0

0.0

-2.0

-4.0

3.0

2.0

1.0

0.0

-1.0

-2.0

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

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

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 

% 

23.0

22.0

21.0

20.0

19.0

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

Employment (q/q-1)

Labour cost index (q/q-1)

Unemployment rate Total (%)

  Graph 4: Prices 

Growth rate

Growth rate

2.0

1.5

1.0

0.5

0.0

-0.5

3.0

2.0

1.0

0.0

-1.0

-2.0

-3.0

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

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions 

  Graph 6: Financial 

Mio EUR 

8,000

6,000

4,000

2,000

0

-2,000

-4,000

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

External trade balance

BOP current account

%

6.0

5.0

4.0

3.0

2.0

1.0

0.0

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

Long-term government bond yields

3-month interest rates

Euro-dollar exchange rates

€/$

1.600

1.400

1.200

1.000

0.800

0.600

0.400

Eurostatistics — 01/2017  __________________________________________________________________________

41

 
 
 
 
 
 
2 Principal European Economic Indicators (PEEIs)

Detailed PEEIs analysis for France

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)

0.3

0.6

0.9

0.3

0

1.2

0.6

1.2

1.2

– 0.1

0

0

0.2

0.1

0.2

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

1.1

1.6

0.8

1.3

1.1

2.7

1.3

2

3.1

1.7

2.2

4.3

0.8

1.3

2.5

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

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

BOP Current account  
(all countries of the world)

mn euro

3001.3

1792.8

1934.1

2308.2

3851.3

2074.6

1163.2

2190

1602.1

1061

mn euro

2589.8

1364.8

1694.3

2239.1

3585.1

1693.3

861.7

1780

1649.4

843.7

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

1278

– 271

– 16080 – 3913

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Inflation (Harmonized Index  
of Consumer Prices - All items)

Industrial producer prices

M/M–1 %

– 1.1

M/M–12 %

M/M–1 %

0.3

– 1

M/M–12 %

– 2.7

0.3

– 0.1

– 0.5

– 4.2

0.8

– 0.1

0.3

– 3.9

0.1

– 0.1

– 0.7

– 4.3

0.5

0.1

0.5

0.1

0.3

0.4

– 0.4

0.4

0.1

0.3

0.4

0

– 0.2

0.5

0.3

0

0.5

0.9

0

0.7

0.8

– 3.3

– 3.1

– 2.9

– 1.8

– 1.5

– 0.8

– 0.2

:

:

:

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Unemployment  
rate

total (²)

age <25year (²)

age >25 year (²)

%

%

%

10.2

24.7

8.7

10.3

24.9

8.8

10.1

24.6

8.6

9.9

24.2

8.4

9.9

24.4

8.4

10

24.8

8.4

10.1

25.2

8.6

10.2

26.2

8.6

9.9

25.4

8.3

9.7

25.7

8

9.5

25.9

7.8

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

Labour Cost Index

Q/Q-1 % (1)

0.4

0.5

0.7

– 0.1

0.2

Q/Q-4 % (³)

1.2

1.3

2

1.4

1.4

Employment

Q/Q–1 % (1)

:

:

:

:

:

Q/Q-4 %

0.5

0.7

0.7

0.7

0.6

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

Industrial production

Production in construction

Retail trade deflated turnover

General government deficit (–)  
/surplus (+)

General government gross debt

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

M/M–1 % (1)

M/M–12 % (³)

M/M–1 % (1)

M/M–12 %

M/M–1 % (1)

M/M–12 % 

1.5

2.3

4.2

0.4

0.6

3

– 1.4

0.9

– 4.8

– 4.5

0.2

3.8

– 0.3

– 0.4

– 1.8

– 7.5

– 0.3

4

1.1

2.1

2.8

– 0.5

0.8

0.9

– 2.9

– 3.2

0.4

2.8

0.2

2.9

– 0.9

– 1.1

– 0.5

– 2.2

– 0.3

1.8

– 0.4

– 0.2

3

1.8

– 0.3

1.3

2.5

0.5

0.7

6.6

0.4

1.2

– 1.5

– 1

– 1.7

0.7

0.3

1.7

– 0.1

– 1.9

1.9

2.8

1.4

3.9

2.2

2

– 0.2

0.7

0

3.9

:

:

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

%

%

– 4.2

0.5

– 6.7

– 2.2

97

96.2

97.5

98.2

:

:

Economic sentiment indicator (²)

index

103.5

103.6

102.1

101.3

102.7

101

100.1

101.3

101.8

101.7

103.5

105.5

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

3-month interest rate

Long term government  
bond yields

%

%

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

–

–

–

–

–

–

–

–

–

–

–

–

0.84

0.59

0.51

0.51

0.51

0.39

0.17

0.15

0.18

0.33

0.67

0.75

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.
(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
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 — 01/2017 edition

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2 

France 

 Graph 1: Output 

Growth rate 

4.0

2.0

0.0

-2.0

  Graph 2: Demand 

Index

Growth rate (PFC,I)

Growth rate (RT)

106

104

102

100

98

96

2.5

1.0

-0.5

-2.0

1.5

1.0

0.5

0.0

-0.5

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

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

GDP (q/q-1)

Industrial Production (m/m-1)

Economic Sentiment Indicator

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

Investment (I)(q/q-1)

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

Graph 3: Labour 

% 

  Graph 4: Prices 

Growth rate

Growth rate

10.3

10.1

9.8

9.6

9.3

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

Employment (q/q-1)

Labour cost index (q/q-1)

Unemployment rate Total (%)

1.5

1.0

0.5

0.0

-0.5

2.0

1.0

0.0

-1.0

-2.0

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

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions 

  Graph 6: Financial 

Mio EUR 

4,000

-4,000

-12,000

-20,000

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

External trade balance

BOP current account

%

6.0

4.0

2.0

0.0

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

Long-term government bond yields

3-month interest rates

Euro-dollar exchange rates

€/$

1.600

1.400

1.200

1.000

0.800

0.600

0.400

Eurostatistics — 01/2017  __________________________________________________________________________

43

 
 
 
 
 
 
2 Principal European Economic Indicators (PEEIs)

Detailed PEEIs analysis for Croatia

Indicators

Unit

Reference Period

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

GDP (volume)

Q/Q-1 % (1)

1

– 0.3

Private final consumption  
(volume)

Q/Q-1 % (1)

Investment (GFCF) (volume)

Q/Q-1 % (1)

0.4

2.2

1

0.4

0.6

0.6

1.9

0.7

0.9

1.8

1.7

0.8

– 1.2

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2.8

1.5

2.5

1.8

2.6

3.4

2.7

3.1

4.3

2.8

3

6.5

2.9

3.3

2.9

External trade balance  
(extra EU28)(2)

BOP Current account  
(all countries of the world)

Inflation (Harmonized Index  
of Consumer Prices - All items)

Industrial producer prices

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

mn euro

11.6

37.6

11.2

– 5.6

– 30

51.9

– 11.2

– 36

0.9

26.5

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

3914.4

– 456.1 – 1585.1

154.8

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

M/M–1 %

– 0.4

M/M–12 %

– 0.2

M/M–1 %

– 1

M/M–12 %

– 2.8

– 0.3

– 0.6

– 0.8

– 4.8

0.5

– 0.9

1.1

– 5

0.4

– 0.9

– 1.5

– 5.8

0.3

0.3

– 1.2

– 1.2

0.1

1.2

– 6.3

– 4.8

– 0.1

– 1.1

– 0.7

– 5

– 0.2

– 1.5

– 1.4

– 5

0.2

0.1

– 0.1

– 0.7

– 0.3

1.5

– 3

1.1

– 2

0.2

– 1.3

– 2.7

:

:

1.8

0.1

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Unemployment  
rate

total (²)

age <25year (²)

age >25 year (²)

%

%

%

14.7

31.5

12.9

14.3

31.5

12.6

14

31.5

12.2

13.7

32

11.7

13.2

32

11.1

12.9

32

10.7

12.4

30.1

10.3

11.9

30.1

9.9

11.5

30.1

9.5

11.5

11.4

:

9.4

:

9.4

:

:

:

Labour Cost Index

Q/Q-1 % (1)

– 1.0

0.5

– 6.5

– 1.2

1.4

Q/Q-4 % (³)

1.0

1.3

– 6.5

– 8.1

– 5.5

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

Employment

Q/Q–1 % (1)

– 0.8

1.3

– 0.2

0.8

0.2

Q/Q-4 %

– 0.3

2

0.7

1.1

2

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

Industrial production

Production in construction

Retail trade deflated turnover

General government deficit (–)  
/surplus (+)

General government gross debt

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

M/M–1 % (1)

M/M–12 % (³)

M/M–1 % (1)

M/M–12 %

2.4

9.4

–

–

M/M–1 % (1)

– 2.9

– 0.4

4.6

–

–

0

M/M–12 % 

1.5

1.7

4

6.9

–

–

0.6

2.8

– 3.1

– 0.9

5

–

–

0.6

2.6

1.7

–

–

– 0.2

2.2

0.3

4.1

–

–

– 1

0

– 0.5

1.2

–

–

1

1.5

– 1.1

2.5

–

–

0.1

1.7

3.6

1.9

–

–

0.5

1.9

1.6

1.7

–

–

1.5

2.8

3.7

7.2

–

–

:

:

:

:

–

–

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

%

%

0.2

– 2.9

– 4.3

1.6

87.3

86.7

85.8

84.6

:

:

Economic sentiment indicator (²)

index

120.3

118.5

118.4

118.6

116.1

117.8

118.3

119.6

121

122.5

122.4

123.8

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

3-month interest rate

Long term government  
bond yields
Croatian kuna exchange 
rates against the euro

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

%

%

1.06

0.88

3.84

3.68

0.83

3.66

0.82

3.62

0.8

0.8

3.52

3.81

Average

7.66

7.64

7.56

7.49

7.50

7.52

0.79

3.75

7.49

0.82

3.58

0.87

3.34

0.88

3.07

0.88

3.01

0.85

2.95

7.49

7.50

7.51

7.52

7.54

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.
(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
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 — 01/2017 edition

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2 

Croatia 

 Graph 1: Output 

Growth rate 

6.0

3.0

0.0

-3.0

-6.0

-9.0

  Graph 2: Demand 

Index

Growth rate (PFC,I)

Growth rate (RT)

126
124
122
120
118
116
114
112

3.0

2.0

1.0

0.0

-1.0

-2.0

2.0

1.0

0.0

-1.0

-2.0

-3.0

-4.0

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

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

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 

% 

15.3

14.3

13.3

12.3

11.3

10.3

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

Employment (q/q-1)

Labour cost index (q/q-1)

Unemployment rate Total (%)

  Graph 4: Prices 

Growth rate

Growth rate

1.5

-0.5

3.0

2.0

1.0

0.0

-1.0

-2.0

-3.0

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

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions 

  Graph 6: Financial 

Mio EUR 

500

0

-500

-1,000

-1,500

-2,000

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

%

6.0

4.0

2.0

0.0

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

Long-term government bond yields

3-month interest rates

€/$

10.000

5.000

0.000

-5.000

-10.000

External trade balance

BOP current account

Croatian Kuna exchange rates against the euro

Eurostatistics — 01/2017  __________________________________________________________________________

45

 
 
 
 
 
 
2 Principal European Economic Indicators (PEEIs)

Detailed PEEIs analysis for Italy

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)

0.1

0.6

0.4

0.2

0.4

0.9

0.4

0.4

0.6

0.1

0.2

0

0.3

0.1

0.8

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

0.6

1.9

1.6

1

1.7

2.8

0.9

2.3

2.1

1.1

1.4

2.9

0.6

1

0.9

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

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

BOP Current account  
(all countries of the world)

mn euro

3979.4 4384.3

4446

5087.2

4135.5

4504.7

4527.1

4483

5119.4

4228.1

mn euro

2743.4

3043.1

3255.1

3755.8

2887.4

3230.6

3361.8

3187

3876.7

3110.6

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

10843

13037

2657

11599

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Inflation (Harmonized Index  
of Consumer Prices - All items)

Industrial producer prices

M/M–1 %

– 2.2

M/M–12 %

0.4

M/M–1 %

– 0.8

– 0.4

– 0.2

– 0.5

2.1

– 0.2

0.2

M/M–12 %

– 3

– 4.1

– 3.9

0.2

– 0.4

– 0.9

– 4.5

0.3

0.2

– 0.3

– 0.2

0.8

0.5

– 4.1

– 3.4

– 1.9

– 0.2

1.6

– 1.4

– 0.1

– 0.1

– 0.2

– 1

1.9

0.1

– 0.1

– 0.8

0.2

– 0.2

– 0.1

– 0.1

– 0.6

0.1

– 0.2

– 0.3

:

:

:

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Unemployment  
rate

total (²)

age <25year (²)

age >25 year (²)

%

%

%

11.6

38.9

9.9

11.7

38.4

9.9

11.5

36.7

9.9

11.6

36.7

9.9

11.5

36.9

9.9

11.6

37.1

9.9

11.6

38.5

10

11.5

37.5

10

11.8

37.4

10

11.8

37.6

:

11.9

39.4

:

:

:

:

Labour Cost Index

Q/Q-1 % (1)

– 0.2

– 0.2

– 0.3

– 0.3

0.3

Q/Q-4 % (³)

– 0.6

– 0.7

– 1.5

– 1.1

– 0.5

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

Employment

Q/Q–1 % (1)

0.5

0.3

0.4

0.5

– 0.1

Q/Q-4 %

0.7

0.9

1.2

1.8

1

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

Industrial production

Production in construction

Retail trade deflated turnover

General government deficit (–)  
/surplus (+)

General government gross debt

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

M/M–1 % (1)

M/M–12 % (³)

1.7

3.8

– 0.8

1.1

M/M–1 % (1)

– 0.4

– 0.7

M/M–12 %

0.7

M/M–1 % (1)

M/M–12 % 

0

1

1

0.4

2.7

0.1

0.5

– 1

– 0.6

– 0.5

0.5

1.8

2.1

2.8

0.1

0.1

– 0.1

– 0.6

– 0.7

– 3.8

– 3.1

0.4

1

– 0.2

– 0.9

1.2

– 0.3

– 0.2

1.1

0.6

– 0.3

– 0.1

– 1

0.1

0.2

1.8

4.4

3.7

5.1

– 0.2

– 0.7

– 0.8

1.9

– 4.3

– 1.4

0

– 0.4

0.1

1.3

– 0.9

– 2.2

0.6

2.8

0.7

3.2

:

:

:

:

:

:

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

%

%

– 2

– 2.5

– 4.6

– 0.2

134

132.3

135

135.5

:

:

Economic sentiment indicator (²)

index

107.5

106.1

103.7

108.1

108.4

104.8

105.2

103.1

103.5

105

104.2

104.2

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

3-month interest rate

Long term government  
bond yields

%

%

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

–

–

–

–

–

–

–

–

–

–

–

–

1.53

1.56

1.38

1.44

1.53

1.45

1.23

1.18

1.27

1.45

1.94

1.89

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.
(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
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 — 01/2017 edition

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2 

Italy 

 Graph 1: Output 

Growth rate 

5.0

2.0

-1.0

  Graph 2: Demand 

Index

Growth rate (PFC,I)

Growth rate (RT)

110

108

106

104

102

100

3.0

2.0

1.0

0.0

-1.0

-2.0

0.8
0.6
0.4
0.2
0.0
-0.2
-0.4
-0.6

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

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

GDP (q/q-1)

Industrial Production (m/m-1)

Economic Sentiment Indicator

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

Investment (I)(q/q-1)

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

Graph 3: Labour 

  Graph 4: Prices 

% 

12.9

11.9

10.9

Growth rate

Growth rate

1.5

3.0

1.0

-1.0

-3.0

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

-0.5

Employment (q/q-1)

Labour cost index (q/q-1)

Unemployment rate Total (%)

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

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions 

  Graph 6: Financial 

Mio EUR 

14,000

10,000

6,000

2,000

-2,000

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

External trade balance

BOP current account

%

6.0

4.0

2.0

0.0

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

Long-term government bond yields

3-month interest rates

Euro-dollar exchange rates

€/$

1.600

1.400

1.200

1.000

0.800

0.600

0.400

Eurostatistics — 01/2017  __________________________________________________________________________

47

 
 
 
 
 
 
2 Principal European Economic Indicators (PEEIs)

Detailed PEEIs analysis for Cyprus

Indicators

Unit

Reference Period

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

GDP (volume)

Q/Q-1 % (1)

0.6

0.7

0.6

0.9

0.7

Private final consumption  
(volume)

Q/Q-1 % (1)

Investment (GFCF) (volume)

Q/Q-1 % (1)

:

:

:

:

:

:

:

:

:

:

Q/Q-4 %

Q/Q-4 %

2.1

1.5

Q/Q-4 %

– 13

2.6

1.7

8.8

2.6

2.6

2.8

2.8

2.9

2.8

– 68.2

135.9

– 3.9

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

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

BOP Current account  
(all countries of the world)

mn euro

– 46.8

– 66.4

– 87.5

– 64.7

– 107.2

– 90.6

– 75.7

– 67.6

– 71.3

– 82.8

mn euro

– 24

– 45.6

– 40.1

– 33.9

– 60.9

– 63.6

– 31.1

– 41.9

– 49.8

– 66.2

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

128

– 198

47

– 457

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Inflation (Harmonized Index  
of Consumer Prices - All items)

Industrial producer prices

M/M–1 %

M/M–12 %

M/M–1 %

– 1.4

– 1.1

– 1.3

– 0.6

– 2.2

– 0.1

M/M–12 %

– 6.9

– 6.8

0.7

– 2.2

– 1.9

– 5.7

0.4

– 2.1

– 0.1

– 5.3

1.3

– 1.9

0.8

– 4.8

0.3

– 2

– 0.2

– 4.8

1

0.4

– 0.4

– 0.6

2.6

– 3.2

0.2

– 3

– 0.4

– 0.4

0.2

– 2.1

– 0.9

– 1

0

– 2

– 1

– 0.8

– 0.2

– 0.3

:

:

:

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Unemployment  
rate

total (²)

age <25year (²)

age >25 year (²)

%

%

%

13.2

29.3

11.7

13.3

29.3

11.8

13.1

29.3

11.7

12.9

28

11.4

12.7

28

11.3

12.8

28

11.3

12.9

29.9

11.3

13.1

29.9

11.4

13.5

29.9

11.7

13.8

14.2

:

12

:

12.2

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

Labour Cost Index

Q/Q-1 % (1)

0.0

0.0

0.0

0.1

0.0

Q/Q-4 % (³)

– 0.8

– 0.6

0.4

0

0.2

Employment

Q/Q–1 % (1)

0.6

0.8

0.4

0.8

0.6

Q/Q-4 %

2.3

2.9

2.3

2.7

2.7

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

Industrial production

Production in construction

Retail trade deflated turnover

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

M/M–1 % (1)

1.7

M/M–12 % (³)

11.3

M/M–1 % (1)

M/M–12 %

–

–

M/M–1 % (1)

– 1.7

M/M–12 % 

3.7

0.8

9.2

–

–

1.4

7.9

0.4

9.4

–

–

0.9

8.5

1.5

10.1

–

–

1

9.1

– 2.6

4.5

–

–

– 2.9

0.1

2.8

10.7

–

–

2.2

5.7

– 0.1

– 0.2

– 1.8

8.4

5.8

–

–

– 0.9

1.5

–

–

– 0.7

– 0.3

3

–

–

1.5

2.2

2.2

7.3

–

–

2.2

6.9

:

:

–

–

:

:

:

:

–

–

:

:

General government deficit (–)  
/surplus (+)

General government gross debt

%

%

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2.9

– 6.8

3.6

– 4.3

110.2

108.9

109.3

109

:

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Economic sentiment indicator (²)

index

107.4

108.1

108.9

113.3

111.3

109.9

110.1

116.2

110.1

112.3

115.2

114.7

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

3-month interest rate

Long term government  
bond yields

%

%

–

3.82

–

4

–

–

–

–

–

–

–

–

–

–

4.01

3.99

3.89

3.82

3.87

3.84

3.62

3.39

3.47

3.55

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.
(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
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 — 01/2017 edition

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2 

Cyprus 

 Graph 1: Output 

Growth rate 

6.0

3.0

0.0

-3.0

-6.0

-9.0

  Graph 2: Demand 

Index

Growth rate (PFC,I)

Growth rate (RT)

118
116
114
112
110
108
106
104
102

3.0

2.0

1.0

0.0

-1.0

-2.0

3.0
2.0
1.0
0.0
-1.0
-2.0
-3.0
-4.0

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

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

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

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

Employment (q/q-1)

Labour cost index (q/q-1)

Unemployment rate Total (%)

  Graph 4: Prices 

Growth rate

Growth rate

1.5

-0.5

3.0

2.0

1.0

0.0

-1.0

-2.0

-3.0

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

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions 

  Graph 6: Financial 

Mio EUR 

100

0

-100

-200

-300

-400

-500

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

External trade balance

BOP current account

%

6.0

4.0

2.0

0.0

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

Long-term government bond yields

3-month interest rates

Euro-dollar exchange rates

€/$

1.600

1.400

1.200

1.000

0.800

0.600

0.400

Eurostatistics — 01/2017  __________________________________________________________________________

49

 
 
 
 
 
 
2 Principal European Economic Indicators (PEEIs)

Detailed PEEIs analysis for Latvia

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)

0.7

1.6

– 0.4

– 0.1

0

1.1

0.6

1

0.2

0.5

Investment (GFCF) (volume)

Q/Q-1 % (1)

– 2.7

– 4.5

– 11.6

– 8.7

– 4.3

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

3.5

5.1

6.1

2.7

1.8

0.5

2.1

3

2

4.1

0.3

3.1

– 15.7

– 26.3

– 26.4

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

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

BOP Current account  
(all countries of the world)

mn euro

35.4

23.7

20.8

35.2

15.4

18.8

42.7

22.4

21.5

31

mn euro

80.5

76.7

63.4

80.4

64

53.6

86

57.7

50.7

37.3

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

– 123

69

152

– 37

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Inflation (Harmonized Index  
of Consumer Prices - All items)

Industrial producer prices

M/M–1 %

– 0.7

M/M–12 %

– 0.3

M/M–1 %

0.1

M/M–12 %

– 2.8

0.1

– 0.6

– 1.3

– 4

0.8

– 0.6

– 0.6

– 3.9

0.4

– 0.7

– 0.2

– 4

0.7

– 0.8

– 0.5

– 4.4

0.1

– 0.6

0.1

– 4.4

– 0.3

0.1

0

– 4

– 0.7

– 0.1

0.6

0.4

0.5

0.2

– 2.9

– 2.3

0.6

1.1

– 0.8

– 2.6

0.1

1.2

0.2

– 2.6

:

:

:

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Unemployment  
rate

total (²)

age <25year (²)

age >25 year (²)

%

%

%

10.1

17.3

9.5

9.9

16.1

9.3

9.6

16

9.1

9.5

17.8

8.7

9.5

18.9

8.7

9.7

19.3

8.9

9.9

18.8

9.1

9.8

17.7

9.2

9.7

17.6

9.1

9.6

17.6

8.9

9.6

17.8

9

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

Labour Cost Index

Q/Q-1 % (1)

1.9

2.0

1.8

3.0

1.0

Q/Q-4 % (³)

7.3

7.6

6.7

9.3

7.7

Employment

Q/Q–1 % (1)

0.5

0.4

– 0.2

0.2

– 1.5

Q/Q-4 %

2.3

2.6

0.8

0.9

– 1.1

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

Industrial production

Production in construction

Retail trade deflated turnover

General government deficit (–)  
/surplus (+)

General government gross debt

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

M/M–1 % (1)

M/M–12 % (³)

M/M–1 % (1)

M/M–12 %

M/M–1 % (1)

M/M–12 % 

0.5

4.9

–

–

1.7

3.1

0.1

3.8

–

–

0.6

2.7

4.6

2.8

–

–

– 0.9

0.7

– 1.5

0

–

–

0.8

2.2

2.3

5.5

–

–

0.8

3.6

0.8

7.9

–

–

– 0.5

1.6

– 1.9

2.5

–

–

– 0.2

1.5

– 1.7

– 0.6

–

–

0.1

0.9

1.8

2.4

–

–

– 0.2

0.6

2.6

6.7

–

–

0.4

0.2

2.8

11

–

–

1.3

4.6

:

:

–

–

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

%

%

0.2

– 6.7

2.7

2

36.4

36.3

36.3

38.9

:

:

Economic sentiment indicator (²)

index

103.1

102.7

103.6

104.2

104.3

104.7

104.4

103.1

104.7

103.4

103.9

103.9

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

3-month interest rate

Long term government  
bond yields

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

%

%

–

–

–

–

–

–

1.05

0.88

0.71

0.61

0.51

0.48

–

0.3

–

0.12

–

0.1

–

–

0.19

0.56

–

0.9

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.
(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
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 — 01/2017 edition

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2 

Latvia 

 Graph 1: Output 

Growth rate 

6.0

1.0

-4.0

-9.0

  Graph 2: Demand 

Index

Growth rate (PFC,I)

Growth rate (RT)

105

104

103

102

101

5.0

0.0

-5.0

-10.0

-15.0

2.0
1.5
1.0
0.5
0.0
-0.5
-1.0
-1.5

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

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

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

9.9

8.9

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

Employment (q/q-1)

Labour cost index (q/q-1)

Unemployment rate Total (%)

  Graph 4: Prices 

Growth rate

Growth rate

6.0

4.0

2.0

0.0

-2.0

-4.0

3.0

1.0

-1.0

-3.0

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

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

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

External trade balance

BOP current account

%

6.0

4.0

2.0

0.0

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

Long-term government bond yields

3-month interest rates

Euro-dollar exchange rates

€/$

1.600

1.400

1.200

1.000

0.800

0.600

0.400

Eurostatistics — 01/2017  __________________________________________________________________________

51

 
 
 
 
 
 
2 Principal European Economic Indicators (PEEIs)

Detailed PEEIs analysis for Lithuania

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)

0.6

1.8

0.6

0.9

Investment (GFCF) (volume)

Q/Q-1 % (1)

– 0.2

– 2.8

0.6

0.9

0.8

0.4

2.4

2.5

0.1

1.4

– 3.6

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

1.8

5.2

5.3

2.1

4.1

2.2

2.4

5

– 6.1

1.9

6.5

2.6

1.7

5.7

– 5.1

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

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

BOP Current account  
(all countries of the world)

mn euro

202

137.1

98.7

144

33.8

9.2

93.8

75.7

124.5

32.3

mn euro

206.1

174.9

156.6

174.5

56.2

17.7

116

128.1

176.9

82

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

– 244.9

360.4

– 27.7

– 389.6

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Inflation (Harmonized Index  
of Consumer Prices - All items)

Industrial producer prices

M/M–1 %

– 0.4

– 0.3

M/M–12 %

M/M–1 %

0.7

1.8

M/M–12 %

– 3.6

0.5

– 1.8

– 6

1.1

0.8

– 0.5

– 6.3

0.7

0.8

0.1

0

0.2

0.5

0

0.4

1

– 6.4

– 5.7

– 3.4

– 0.8

– 0.4

0

– 0.6

– 3.9

0.5

– 0.8

– 3.1

0.8

0.6

0

– 2

0.5

0.7

1

– 0.3

0.3

1.1

0.5

0.2

:

:

:

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Unemployment  
rate

total (²)

age <25year (²)

age >25 year (²)

%

%

%

8.6

13.6

8.2

8.5

13.9

8

8.4

14.2

7.9

8

14.8

7.4

8.2

15.5

7.6

8.4

16.2

7.7

7.8

14.2

7.2

7.6

13.6

7

7.6

13.7

7

7.6

12.7

7.1

7.9

12.8

7.4

:

:

:

Labour Cost Index

Q/Q-1 % (1)

1.8

0.8

2.1

1.5

2.5

Q/Q-4 % (³)

5.7

4.7

6.1

6.6

6.8

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

Employment

Q/Q–1 % (1)

0.5

– 0.3

1.3

1

– 0.4

Q/Q-4 %

0.1

1.3

2.6

2.4

1.5

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

Industrial production

Production in construction

Retail trade deflated turnover

General government deficit (–)  
/surplus (+)

General government gross debt

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

M/M–1 % (1)

M/M–12 % (³)

M/M–1 % (1)

M/M–12 %

M/M–1 % (1)

M/M–12 % 

0.9

9.2

–

–

0.7

6.5

1.2

5.6

–

–

0.9

8.5

– 3.6

– 3

2.7

– 1.6

–

–

0.2

4.9

–

–

1.2

6.5

4

0.2

–

–

0.6

6.2

– 0.5

– 1.4

–

–

0.6

6.5

– 0.3

– 0.6

–

–

0.7

6.1

– 0.4

0.3

–

–

0.8

6.7

3.7

8.2

–

–

0.6

7.7

2.5

0.3

–

–

0.6

8.4

1.1

1.6

–

–

0.1

7.8

:

:

–

–

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

%

%

1.9

– 2.3

– 2.2

3.9

38.2

42.7

40

40.1

:

:

Economic sentiment indicator (²)

index

106.1

105

105.4

104.1

104.1

103.7

103.8

106

107

106.2

109

111

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

3-month interest rate

Long term government  
bond yields

%

%

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

–

–

–

–

–

–

–

–

–

–

–

–

1.47

1.42

1.42

1.31

0.86

0.86

0.86

0.86

0.79

0.31

0.31

0.31

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.
(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
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)

52

 Eurostatistics — 01/2017 edition

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2 

Lithuania 

 Graph 1: Output 

Growth rate 

6.0

3.0

0.0

-3.0

-6.0

-9.0

  Graph 2: Demand 

Index

Growth rate (PFC,I)

Growth rate (RT)

112

110

108

106

104

102

100

10.0

5.0

0.0

-5.0

-10.0

3.0

2.0

1.0

0.0

-1.0

-2.0

-3.0

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

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

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 

% 

10.5

9.5

8.5

7.5

6.5

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

Employment (q/q-1)

Labour cost index (q/q-1)

Unemployment rate Total (%)

  Graph 4: Prices 

Growth rate

Growth rate

2.0

0.0

-2.0

3.0

1.0

-1.0

-3.0

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

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions 

  Graph 6: Financial 

Mio EUR 

300

100

-100

-300

-500

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

%

6.0

4.0

2.0

0.0

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

Long-term government bond yields

3-month interest rates

€/$

1.600

1.400

1.200

1.000

0.800

0.600

0.400

External trade balance

BOP current account

Lithuanian Litas exchange rates against the euro

Eurostatistics — 01/2017  __________________________________________________________________________

53

 
 
 
 
 
 
2 Principal European Economic Indicators (PEEIs)

Detailed PEEIs analysis for Luxembourg

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)

0.2

0.3

4.5

3.5

0.8

– 0.5

– 1.4

– 5.3

1.1

1.8

2.8

5.6

– 0.1

– 1.6

– 3.1

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

1.6

2.2

7.1

3.2

1.9

3.5

1.4

– 10.1

– 9.6

5

2.5

5.5

4.6

0.4

– 2.2

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

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

BOP Current account  
(all countries of the world)

mn euro

– 111.1

– 155

– 53.3

– 102.1

– 15.7

– 182.1

– 105.5

– 125.1

– 61.1

– 231.2

mn euro

– 192.6 – 248.3

– 117.3 – 170.8

– 135.8

– 255.1

– 186.6

– 201.4

– 133.3

– 312.5

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

– 1209

1878

519

284

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Inflation (Harmonized Index  
of Consumer Prices - All items)

Industrial producer prices

M/M–1 %

– 1.5

M/M–12 %

0.5

M/M–1 %

– 2.1

M/M–12 %

– 4.3

1.3

– 0.3

– 0.5

– 5.2

0.1

– 0.6

– 0.1

– 5.2

0.2

– 0.6

– 0.1

– 5.3

0.5

0.4

– 0.6

– 0.4

0.3

0.4

– 5.2

– 4.7

– 1.3

– 0.4

– 3.9

– 7.7

1

– 0.2

0

– 7.2

0.3

0.3

– 0.3

– 7.4

0.2

0.7

– 0.1

– 7.2

0

0.6

0.1

– 6.5

:

:

:

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Unemployment  
rate

total (²)

age <25year (²)

age >25 year (²)

%

%

%

6.4

18.3

5.4

6.4

18.9

5.3

6.4

19

5.4

6.4

19.5

5.3

6.3

19.4

5.2

6.3

19.3

5.2

6.3

19.1

5.3

6.3

19.1

5.3

6.3

19.5

5.3

6.3

19.3

5.3

6.2

19.1

5.2

:

:

:

Labour Cost Index

Q/Q-1 % (1)

– 1.7

– 0.1

0.8

– 0.3

0.9

Q/Q-4 % (³)

0

0.2

0.4

– 1.3

1.4

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

Employment

Q/Q–1 % (1)

0.7

0.8

0.7

0.7

0.7

Q/Q-4 %

2.6

2.8

2.9

2.9

3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

Industrial production

Production in construction

Retail trade deflated turnover

General government deficit (–)  
/surplus (+)

General government gross debt

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

M/M–1 % (1)

M/M–12 % (³)

M/M–1 % (1)

M/M–12 %

M/M–1 % (1)

0.3

2.5

3.8

2.1

3.9

M/M–12 % 

17.7

0.8

1.3

5.6

16.4

1.2

18.6

– 0.2

0.9

– 7.2

– 0.2

– 0.6

13.1

– 3.5

– 1.2

– 1

0

1.6

– 0.1

– 2.8

0.2

1.1

0.1

3

2.2

0.3

3.7

1.2

– 1.4

0.6

4.3

1.9

1.4

16.9

13.6

14.1

14.7

– 3.4

– 7.6

– 4.2

8.5

– 0.3

10.9

4

1.7

1.2

1.6

– 0.3

6.9

– 3.5

– 4.6

– 1.2

1.7

– 2.1

– 0.9

– 0.9

– 7.7

:

:

6.2

12.4

:

:

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

%

%

0

1.1

0.6

22.1

22.1

22.4

4.6

22

:

:

Economic sentiment indicator (²)

index

97.4

97.1

102.9

108

107.2

108.9

102.3

105.5

101.5

103.6

105.3

108

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

3-month interest rate

Long term government  
bond yields (**)

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

%

%

–

–

–

–

–

–

0.72

0.43

0.42

0.34

0.33

0.17

–

0

–

–

–

–

–

– 0.05

– 0.03

0.07

0.28

0.39

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

« : » 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  

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

54

 Eurostatistics — 01/2017 edition

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2 

Luxembourg 

 Graph 1: Output 

Growth rate 

6.0

3.0

0.0

-3.0

-6.0

-9.0

  Graph 2: Demand 

Index

Growth rate (PFC,I)

Growth rate (RT)

110

105

100

95

90

10.0

5.0

0.0

-5.0

8.0

6.0

4.0

2.0

0.0

-2.0

-4.0

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

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

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 

% 

7.5

6.5

5.5

4.5

3.5

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

Employment (q/q-1)

Labour cost index (q/q-1)

Unemployment rate Total (%)

  Graph 4: Prices 

Growth rate

Growth rate

0.9

-1.1

3.5

1.5

-0.5

-2.5

-4.5

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

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions 

  Graph 6: Financial 

Mio EUR 

2,000

1,000

0

-1,000

-2,000

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

External trade balance

BOP current account

%

5.0

3.0

1.0

-1.0

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

Long-term government bond yields

3-month interest rates

Euro-dollar exchange rates

€/$

1.600

1.400

1.200

1.000

0.800

0.600

0.400

Eurostatistics — 01/2017  __________________________________________________________________________

55

 
 
 
 
 
 
2 Principal European Economic Indicators (PEEIs)

Detailed PEEIs analysis for Hungary

Indicators

Unit

Reference Period

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

GDP (volume)

Private final consumption  
(volume)

Q/Q-1 % (1)

0.6

Q/Q-1 % (1)

1

Investment (GFCF) (volume)

Q/Q-1 % (1)

– 0.6

0.9

1.4

1.8

– 0.6

1.4

– 16.4

1.1

1.1

0

0.3

0.8

3.7

Q/Q-4 %

Q/Q-4 %

2.6

3.1

Q/Q-4 %

– 1.5

3.4

3.8

6.4

1.1

4.8

2.8

5.2

2.2

4.6

– 7.8

– 19.7

– 8.8

External trade balance  
(extra EU28)(²)

BOP Current account  
(all countries of the world)

Inflation (Harmonized Index  
of Consumer Prices - All items)

Industrial producer prices

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

mn euro

– 242.1 – 207.7

– 173.1

– 121.5 – 206.2

– 150.5

– 125

– 182.1

– 102

– 98.6

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

866.6

545

1607.9

1757

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

M/M–1 %

– 0.1

– 0.1

M/M–12 %

1

M/M–1 %

– 2.2

0.3

– 2

0.2

– 0.2

0.5

0.8

0.3

0

0.3

0.2

– 0.1

– 0.1

1.6

1.2

– 0.2

– 0.3

0

– 0.4

– 0.1

– 1

0.2

0.7

0.3

0.6

1.1

1

0

1.1

0.7

M/M–12 %

– 3

– 4.9

– 5.1

– 4.8

– 4.8

– 4.1

– 3.6

– 3.3

– 2.8

– 1.2

– 0.5

:

:

:

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Unemployment  
rate

total (²)

age <25year (²)

age >25 year (²)

%

%

%

5.9

5.8

14.2

13.9

5.3

5.1

5.7

14.1

5

5.4

14

4.8

5.1

13.5

4.5

5

13.1

4.4

5

12.7

4.4

5

12.4

4.4

4.8

12.3

4.2

4.6

12

4

:

:

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

Labour Cost Index

Q/Q-1 % (1)

0.6

1.1

1.3

0.7

2.0

Q/Q-4 % (³)

4.6

4

4.1

3

6

Employment

Q/Q–1 % (1)

0.7

0.5

1.1

0.6

0.3

Q/Q-4 %

1.8

2.1

3

3.1

2.4

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

Industrial production

Production in construction

Retail trade deflated turnover

General government deficit (–)  
/surplus (+)

General government gross debt

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

M/M–1 % (1)

– 0.1

– 0.8

M/M–12 % (³)

2.1

M/M–1 % (1) – 21.6

1.7

1.2

– 1.8

– 3.3

– 6.5

5.9

4.8

3.3

– 0.6

4.2

0.6

– 2.5

– 0.5

7

M/M–12 % – 21.3

– 21

– 34.6

– 29.1

– 26.5

– 17.5

M/M–1 % (1)

M/M–12 % 

0.1

2.2

1.4

6.6

– 0.1

4.3

0.9

6.7

0.1

5.8

0.3

5.6

0

0.2

– 1.8

– 17

– 0.2

4

1.2

3.3

4.2

– 9

0.2

4.3

– 3

– 3.7

1.6

2

– 2.1

– 3.8

– 13.2

– 12.8

0.5

5.1

– 0.3

2.6

0.9

0.6

:

:

0.9

4.8

:

:

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

%

%

– 1.5

– 1.1

– 0.8

– 0.7

78

75.4

77.2

75.6

:

:

Economic sentiment indicator (²)

index

115.6

111.7

112.4

110.1

109.7

108.5

114.8

109.4

109.7

108.4

111.7

112.4

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

3-month interest rate

Long term government  
bond yields
Danish Krone exchange 
rates against the euro

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

%

%

1.19

1.34

3.36

3.36

1.19

3.13

1.18

3.02

0.98

3.35

0.93

3.31

0.89

2.88

0.75

2.83

0.8

2.88

0.86

2.93

0.67

3.36

0.66

3.31

Average

314.68

310.37

311.15

311.46

314.58

313.98

314.35

310.21

308.68

307.00

308.82

312.24

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.
(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
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 — 01/2017 edition

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2 

Hungary 

 Graph 1: Output 

Growth rate 

6.0

3.0

0.0

-3.0

-6.0

-9.0

  Graph 2: Demand 

Index

Growth rate (PFC,I)

Growth rate (RT)

125

120

115

110

105

100

5.0

0.0

-5.0

-10.0

-15.0

-20.0

3.0

2.0

1.0

0.0

-1.0

-2.0

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

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

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

4.2

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

Employment (q/q-1)

Labour cost index (q/q-1)

Unemployment rate Total (%)

  Graph 4: Prices 

Growth rate

Growth rate

2.0

1.5

1.0

0.5

0.0

-0.5

3.0

2.0

1.0

0.0

-1.0

-2.0

-3.0

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

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions 

  Graph 6: Financial 

Mio EUR 

2,000

1,500

1,000

500

0

-500

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

%

5.0

4.0

3.0

2.0

1.0

0.0

-1.0

Hungarian forint/€

320

305

290

275

260

245

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

Long-term government bond yields

3-month interest rates

External trade balance

BOP current account

Hungarian forint exchange rates against the euro

Eurostatistics — 01/2017  __________________________________________________________________________

57

 
 
 
 
 
 
2 Principal European Economic Indicators (PEEIs)

Detailed PEEIs analysis for Malta

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)

1.5

1.9

1.5

1.5

0

0.4

0.4

– 1

1.3

2.1

Q/Q-4 %

Q/Q-4 %

7.3

6.9

Investment (GFCF) (volume)

Q/Q-1 % (1)

3.6

– 14.8

– 6.4

17.8

– 17.2

Q/Q-4 %

78.9

7.1

7.2

37

5.5

6.2

17

3.4

2.2

3

3.1

– 2.7

– 22.3

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

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

BOP Current account  
(all countries of the world)

mn euro

– 83.1 – 453.3

– 70.5

– 254.1

– 139.1

– 86.6

101.7

– 28.5

– 68.6

– 112.3

mn euro

– 54.6 – 427.9

– 45.9

– 227.1

– 112.2

– 44

149.9

4.8

– 44.8

– 92.6

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

57.4

87.3

12.3

– 5.3

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Inflation (Harmonized Index  
of Consumer Prices - All items)

Industrial producer prices

M/M–1 %

– 1.6

0.6

M/M–12 %

M/M–1 %

0.8

0.2

1

0

1

1

0

M/M–12 %

– 3.1

– 3.3

– 3.4

2.6

0.8

– 0.2

0.9

1

1

0

0.8

1.1

1

0.1

0.9

– 0.1

0.4

– 0.9

0.9

0

0.9

1

0

1

0.9

– 0.1

0.4

– 1

0.5

0

0.4

– 2.2

0.8

0.1

0.2

:

:

:

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Unemployment  
rate

total (²)

age <25year (²)

age >25 year (²)

%

%

%

5.2

10.3

4.4

5

9.9

4.3

4.8

9.2

4.1

4.8

9.2

4.1

4.7

9.3

4

4.8

10.4

4

4.9

12

3.8

4.8

12.4

3.7

4.8

12.6

3.6

5

14.3

3.5

4.8

13.6

3.4

:

:

:

Labour Cost Index

Q/Q-1 % (1)

2.7

0.5

– 3.2

– 1.2

1.8

Q/Q-4 % (³)

3.5

3.3

– 0.6

– 1.7

– 2.1

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

Employment

Q/Q–1 % (1)

–

–

–

–

–

Q/Q-4 %

2.8

3.4

2.4

4.3

3.8

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

Industrial production

Production in construction

Retail trade deflated turnover

General government deficit (–)  
/surplus (+)

General government gross debt

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

M/M–1 % (1)

– 4.4

M/M–12 % (³) – 8.4

M/M–1 % (1)

M/M–12 %

–

–

M/M–1 % (1)

– 0.6

M/M–12 % 

6.1

2.7

– 3

–

–

1.8

12.7

– 0.6

– 4.2

–

–

– 1.7

2.8

1.3

– 2.8

–

–

– 0.5

– 1.4

0

– 4

–

–

– 0.8

– 6.9

–

–

0.8

0.1

– 0.2

– 0.4

– 0.3

– 5.6

–

–

– 0.2

– 2

1.4

0.7

– 2

2.1

– 2.5

– 1.8

– 6.4

– 0.8

–

–

1.3

3.6

–

–

–

–

– 0.1

– 0.3

3.1

0.7

–

–

0.8

3.5

:

:

–

–

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

%

%

– 0.9

66.1

4.4

64

– 2.9

0.5

65.4

64.8

:

:

Economic sentiment indicator (²)

index

108

107.5

106.3

109.2

105.6

109.8

110.5

110.8

114.1

113.6

114.6

115.5

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

3-month interest rate

Long term government  
bond yields

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

%

%

–

–

–

1.25

1.16

1.03

–

1

–

–

–

–

1.02

0.95

0.76

0.61

–

0.6

–

–

–

0.59

0.84

0.82

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.
(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
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 — 01/2017 edition

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2 

Malta 

 Graph 1: Output 

Growth rate 

7.0

3.0

-1.0

-5.0

-9.0

  Graph 2: Demand 

Index

Growth rate (PFC,I)

Growth rate (RT)

120

115

110

105

100

25.0

10.0

-5.0

-20.0

2.0

1.0

0.0

-1.0

-2.0

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

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

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

4.8

3.8

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

Employment (q/q-1)

Labour cost index (q/q-1)

Unemployment rate Total (%)

  Graph 4: Prices 

Growth rate

Growth rate

2.0

0.0

-2.0

3.0

1.0

-1.0

-3.0

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

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions 

  Graph 6: Financial 

Mio EUR 

400

100

-200

-500

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

External trade balance

BOP current account

%

6.0

4.0

2.0

0.0

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

Long-term government bond yields

3-month interest rates

Euro-dollar exchange rates

€/$

1.600

1.300

1.000

0.700

0.400

Eurostatistics — 01/2017  __________________________________________________________________________

59

 
 
 
 
 
 
2 Principal European Economic Indicators (PEEIs)

Detailed PEEIs analysis for Netherlands

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)

0.2

0

0.7

0.3

0.1

3.1

0.7

0.6

1.1

0.7

0.3

2

0.8

0.9

0.6

Q/Q-4 %

Q/Q-4 %

2

2

Q/Q-4 %

9.5

1.4

1.4

9.1

1.5

1.3

7.6

2.3

1.1

7

2.4

2

7.2

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

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

BOP Current account  
(all countries of the world)

mn euro

– 5305.6

– 5770 – 5422.8 – 5424.5 – 5619.4 – 5546.2

– 5389.4

– 6058 – 5046.8 – 6846.1

mn euro

– 8872.2 – 9651.7 – 8944.3 – 8892.7 – 9072.8 – 9435.3

– 9281.9 – 9413.2 – 8933.2 – 10424.3

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

12944

11226

16517

13104

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Inflation (Harmonized Index  
of Consumer Prices - All items)

Industrial producer prices

M/M–1 %

– 1.5

M/M–12 %

0.2

M/M–1 %

– 2.2

M/M–12 %

– 5.9

0.9

0.3

– 1.5

– 8.9

1.5

0.5

0.8

0.1

– 0.2

– 0.4

0.2

– 0.2

1.8

– 0.5

– 0.2

2.4

– 9.5

– 10.3

– 8.5

– 6.4

0.3

– 0.6

– 0.1

– 6

0.2

0.1

– 1.9

– 5.8

– 0.4

– 0.1

1.2

– 4

0.4

0.3

2.8

– 0.2

– 0.6

0.4

0.8

1.1

:

:

:

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Unemployment  
rate

total (²)

age <25year (²)

age >25 year (²)

%

%

%

6.5

11.2

5.6

6.5

11.3

5.6

6.4

11.4

5.5

6.4

11.2

5.5

6.3

11.1

5.4

6.1

10.8

5.3

6

10.8

5.2

5.8

10.6

4.9

5.7

10.5

4.8

5.6

10.5

4.7

5.6

10.3

4.7

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

Labour Cost Index

Q/Q-1 % (1)

0.0

0.4

0.8

– 0.2

0.8

Q/Q-4 % (³)

1.1

0.1

2.2

0.7

1.8

Employment

Q/Q–1 % (1)

0.3

0.4

0

0.4

0.3

Q/Q-4 %

1.2

1

1.1

1.1

1.1

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

Industrial production

Production in construction

Retail trade deflated turnover

General government deficit (–)  
/surplus (+)

General government gross debt

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

M/M–1 % (1)

1.8

– 0.9

M/M–12 % (³) – 5.2

M/M–1 % (1)

M/M–12 %

1

8.4

M/M–1 % (1)

– 0.5

– 5

0.4

7.7

0.2

M/M–12 % 

0.2

– 0.1

1.9

1.7

1

8

1.7

5.2

0.2

6.8

– 0.5

– 0.3

– 0.3

– 0.9

– 5.3

1.5

0.1

3.9

2

2.4

1.7

1.4

– 0.2

0.7

– 0.6

0

– 2.1

– 0.5

2.1

9.9

0.8

2

3.6

4.1

1.1

14.7

– 0.9

0.3

2.1

5.4

0.3

8.1

– 0.4

– 0.4

– 1.5

1.5

0.7

8.2

3.6

4.8

3.5

7

:

:

:

:

:

:

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

%

%

– 3.6

0.8

0.5

– 1.3

66.2

65.1

64.8

63.7

:

:

Economic sentiment indicator (²)

index

104.9

102.9

102

103.9

103.8

105.9

105.9

102.3

104

105

105.2

107.1

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

3-month interest rate

Long term government  
bond yields

%

%

–

–

–

0.65

0.37

0.32

–

0.4

–

–

–

–

–

–

–

–

0.38

0.25

0.06

0.03

0.06

0.16

0.39

0.44

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.
(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
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 — 01/2017 edition

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2 

Netherlands 

 Graph 1: Output 

Growth rate 

7.0

3.0

-1.0

-5.0

-9.0

  Graph 2: Demand 

Index

Growth rate (PFC,I)

Growth rate (RT)

108

106

104

102

100

98

5.0

3.0

1.0

-1.0

-3.0

4.0

2.0

0.0

-2.0

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

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

GDP (q/q-1)

Industrial Production (m/m-1)

Economic Sentiment Indicator

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

Investment (I)(q/q-1)

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

Graph 3: Labour 

% 

6.7

6.2

5.7

5.2

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

Employment (q/q-1)

Labour cost index (q/q-1)

Unemployment rate Total (%)

  Graph 4: Prices 

Growth rate

Growth rate

1.5

-0.5

4.0

1.0

-2.0

-5.0

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

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions 

  Graph 6: Financial 

Mio EUR 

15,000

5,000

-5,000

-15,000

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

External trade balance

BOP current account

%

6.0

4.0

2.0

0.0

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

Long-term government bond yields

3-month interest rates

Euro-dollar exchange rates

€/$

1.600

1.200

0.800

0.400

Eurostatistics — 01/2017  __________________________________________________________________________

61

 
 
 
 
 
 
2 Principal European Economic Indicators (PEEIs)

Detailed PEEIs analysis for Austria

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)

0.2

0.2

Investment (GFCF) (volume)

Q/Q– 1 % (1)

– 0.4

0.4

0.5

0.2

0.6

0.2

1.7

0.1

0.4

1.9

0.5

0.3

1.1

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

1.4

0.1

0.8

1.1

0.6

1.1

1.6

1.2

2

1.2

1.6

4.6

1.2

1.3

3.9

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

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

BOP Current account  
(all countries of the world)

mn euro

895.1

914.7

1363

1406.3

1160.3

1145.1

1145.7

956.3

1406.8

1115.6

mn euro

486

517.3

926.3

1064.3

787.7

748.6

796.4

564.8

1029.7

815.7

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

1064

730

5182

414

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Inflation (Harmonized Index  
of Consumer Prices –  All items)

Industrial producer prices

M/M–1 %

– 1.1

– 0.1

M/M–12 %

M/M–1 %

1.4

– 1

1

– 1

M/M–12 %

– 2.9

– 4.3

1.1

0.7

0.2

– 4

0.1

0.6

0.1

0.1

0.6

0.2

– 3.8

– 3.5

0

0.6

0.5

– 3

– 0.5

– 0.2

0.6

0

0.6

0.1

– 2.8

– 2.3

1

1.1

0

– 2

0.4

1.4

0.6

– 1

0.1

1.5

0.2

– 0.5

:

:

:

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Unemployment  
rate

total (²)

age <25year (²)

age >25 year (²)

%

%

%

6

11.9

5.2

6.1

11.9

5.2

5.9

10.5

5.2

5.9

10.3

5.3

6.1

11.1

5.4

6.2

11.7

5.4

6.2

11.5

5.4

6.2

11.5

5.4

6

11.4

5.3

5.8

10.9

5.1

5.8

10.4

5.1

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

Labour Cost Index

Q/Q– 1 % (1)

0.0

2.6

– 2.1

0.1

1.5

Q/Q-4 % (³)

1.2

5

0.8

0.4

1.9

Employment

Q/Q–1 % (1)

0.2

0.3

0.4

0.3

0.4

Q/Q-4 %

0.6

0.8

1.2

1.1

1.4

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

Industrial production

Production in construction

Retail trade deflated turnover

General government deficit (–)  
/surplus (+)

General government gross debt

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

M/M–1 % (1)

M/M–12 % (³)

2.6

3

– 2

– 1.2

M/M–1 % (1)

– 0.6

M/M–12 % – 4.4

M/M–1 % (1)

– 1.2

M/M–12 % 

– 0.6

1.6

1.9

1.4

0.9

2.1

1.7

0.8

1

– 0.8

0.2

0.4

3.6

– 1.9

– 0.3

0.7

0.9

– 0.6

– 0.4

2.2

– 0.4

0.7

0.3

2.1

0.8

– 0.4

– 0.8

– 0.3

0.2

– 0.4

– 0.9

0

– 0.3

0

0.4

1.7

2.6

0.6

0.7

0.5

1.8

0

2.9

1.1

2.5

0.1

0.5

– 0.8

0.2

– 2

0.4

1

2.5

:

:

:

:

– 1.3

1.2

:

:

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

%

%

– 0.6

0.8

– 3.3

– 1.5

86.4

85.5

86.5

86.7

:

:

Economic sentiment indicator (²)

index

101.3

96

96.4

97.8

99.3

99.8

99.3

99.3

100.6

103.2

104.6

105.1

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

3– month interest rate

Long term government  
bond yields

%

%

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

–

–

–

–

–

–

–

–

–

–

–

–

0.77

0.53

0.46

0.38

0.37

0.33

0.16

0.11

0.15

0.24

0.49

0.53

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.
(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
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 — 01/2017 edition

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2 

Austria 

 Graph 1: Output 

Growth rate 

6.0

3.0

0.0

-3.0

-6.0

-9.0

  Graph 2: Demand 

Index

Growth rate (PFC,I)

Growth rate (RT)

110

105

100

95

90

3.0

2.0

1.0

0.0

-1.0

-2.0

3.0

2.0

1.0

0.0

-1.0

-2.0

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

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

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

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

Employment (q/q-1)

Labour cost index (q/q-1)

Unemployment rate Total (%)

  Graph 4: Prices 

Growth rate

Growth rate

4.0

2.0

0.0

-2.0

-4.0

3.0

2.0

1.0

0.0

-1.0

-2.0

-3.0

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

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions 

  Graph 6: Financial 

Mio EUR 

6,000

5,000

4,000

3,000

2,000

1,000

0

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

External trade balance

BOP current account

%

6.0

5.0

4.0

3.0

2.0

1.0

0.0

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

Long-term government bond yields

3-month interest rates

Euro-dollar exchange rates

€/$

1.600

1.400

1.200

1.000

0.800

0.600

0.400

Eurostatistics — 01/2017  __________________________________________________________________________

63

 
 
 
 
 
 
2 Principal European Economic Indicators (PEEIs)

Detailed PEEIs analysis for Poland

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)

1.1

0.5

1

1.3

0.8

– 0.1

0.9

0.8

0.9

0.2

1.2

– 0.8

– 2.5

– 1.7

– 2.4

Q/Q– 4 %

Q/Q– 4 %

Q/Q– 4 %

3.6

2.9

5.5

4.6

2.3

4.5

2.8

2.8

3.1

2.6

2

4.7

– 2.4

– 4.8

– 8.3

External trade balance  
(extra EU28)(²)

BOP Current account  
(all countries of the world)

Inflation (Harmonized Index  
of Consumer Prices - All items)

Industrial producer prices

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

mn euro

– 1027.1 – 1195.2 – 1015.3 – 975.2

– 596.1 – 1035.4

– 775.3 – 1200.1 – 1166.3 – 1207.2

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

– 2501.1 – 985.3 – 183.5

990.8

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

M/M–1 %

– 0.2

0

0.1

0.3

0.2

0.1

M/M–12 %

– 0.3

M/M–1 %

– 1.1

M/M–12 %

– 1.5

– 0.2

– 0.5

– 2.3

– 0.4

– 0.5

– 0.4

– 0.4

0.4

0.4

1.1

0.4

– 2.3

– 1.8

– 0.9

– 0.9

– 0.3

– 0.6

– 0.2

– 0.8

– 0.2

– 0.5

0

0.1

0

– 0.2

0.4

0.7

0.4

0.1

0.7

1.3

0

0.2

1.1

2.4

:

:

:

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Unemployment  
rate

total (²)

age <25year (²)

age >25 year (²)

%

%

%

6.7

6.5

18.8

18.4

5.6

5.4

6.4

18

5.3

6.3

17.7

5.3

6.3

17.9

5.3

6.3

18

5.2

6.2

18.3

5.2

6.2

18.6

5.2

6.2

18.7

5.1

6.1

18.6

5

6

18.1

5

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

Labour Cost Index

Q/Q-1 % (1)

0.5

1.0

1.5

– 0.2

2.3

Q/Q–4 % (³)

3.7

2.9

3.2

2.9

4.9

Employment

Q/Q–1 % (1)

–

–

–

–

–

Q/Q– 4 %

1.2

1.9

1

1

0.2

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Industrial production

Production in construction

M/M–1 % (1)

– 0.2

M/M–12 % (³)

3.6

0

2.9

– 0.7

0.5

M/M–1 % (1)

– 3.2

– 1.8

– 3.2

2.3

5.9

– 1

– 1.1

3.2

0.4

3.8

– 1.5

0.9

2.1

5.2

– 2.6

– 3.6

– 0.6

– 4.7

– 0.4

– 0.7

3.2

2.7

0.8

– 1.6

2.1

3.2

6.7

M/M–12 %

– 6.2

– 10.6

– 14.9

– 16

– 13.9

– 14.7

– 15.2

– 21.7

– 16.1

– 18

– 11.5

Retail trade deflated turnover

M/M–1 % (1)

M/M–12 % 

1.8

5.5

– 0.9

– 0.2

6.7

5.3

3.2

6

0.3

6.7

– 0.5

6.3

– 1.1

4.8

0.2

9.4

1

7.6

1.8

7.1

0.2

7.8

:

:

:

:

:

:

General government deficit (–)  
/surplus (+)

General government gross debt

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

%

%

– 1.4

– 5.2

1.2

– 1.2

51.8

51.4

52.1

53.8

:

:

Economic sentiment indicator (²)

index

99.4

99.6

99.8

101.4

99.8

99.7

99.8

99.2

101.2

101.5

99.9

101.6

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

3-month interest rate

Long term government  
bond yields
New Polish Zloty exchange 
rates against the euro

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

%

%

1.71

3

1.69

3.03

1.67

2.89

1.67

2.95

1.67

3.04

1.69

3.11

1.71

2.89

1.71

2.71

1.71

2.85

Average

4.41

4.40

4.29

4.31

4.40

4.40

4.40

4.30

4.32

1.72

3.01

4.31

1.73

3.41

1.73

3.54

4.39

4.44

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.
(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
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 — 01/2017 edition

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2 

Poland 

 Graph 1: Output 

Growth rate 

6.0

3.0

0.0

-3.0

-6.0

-9.0

  Graph 2: Demand 

Index

Growth rate (PFC,I)

Growth rate (RT)

102

101

100

99

98

3.0

2.0

1.0

0.0

-1.0

-2.0

4.0

3.0

2.0

1.0

0.0

-1.0

-2.0

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

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

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

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

Employment (q/q-1)

Labour cost index (q/q-1)

Unemployment rate Total (%)

  Graph 4: Prices 

Growth rate

Growth rate

3.0

2.0

1.0

0.0

-1.0

-2.0

3.0

2.0

1.0

0.0

-1.0

-2.0

-3.0

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

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions 

  Graph 6: Financial 

Mio EUR 

1,500

1,000

500

0

-500

-1,000

-1,500

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

%

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

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

Long-term government bond yields

3-month interest rates

External trade balance

BOP current account

New Polish Zloty exchange rates against the euro

Eurostatistics — 01/2017  __________________________________________________________________________

65

 
 
 
 
 
 
2 Principal European Economic Indicators (PEEIs)

Detailed PEEIs analysis for Portugal

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)

0.1

0.1

0.3

0

0.2

1.6

0.3

– 0.1

0.8

0.4

Investment (GFCF) (volume)

Q/Q-1 % (1)

– 1.9

0.6

– 1.4

0.4

– 0.4

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

1.6

2.1

3

1.5

1.7

1.5

0.9

2.7

1

1.5

– 3.6

– 2.3

1.4

1.7

– 2

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

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

BOP Current account  
(all countries of the world)

mn euro

7.7

– 33.9

– 42.8

105.4

37.4

– 37

73.9

– 99.4

41.7

106.7

mn euro

– 126

– 117.6 – 170.4

– 6.7

– 66.9

– 122.7

– 35.8

– 220.4

– 88.3

– 2.8

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

1780

91

– 392

– 1148

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Inflation (Harmonized Index  
of Consumer Prices - All items)

Industrial producer prices

M/M–1 %

– 1.1

– 0.5

M/M–12 %

M/M–1 %

0.7

0.1

0.2

– 0.8

2.2

0.5

0.4

M/M–12 %

– 2.4

– 3

– 3.3

0.4

0.5

– 0.4

– 4.1

0.4

0.4

0.6

0.2

0.7

1.6

– 0.6

0.7

0.2

– 3.9

– 2.4

– 2.4

0

0.8

– 0.5

– 2

0.7

0.7

0

– 1

0.2

1.1

0.9

0.5

– 1

0.5

– 0.3

0.8

:

:

:

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Unemployment  
rate

total (²)

age <25year (²)

age >25 year (²)

%

%

%

12.1

29.8

10.7

12.2

30

10.8

12

31

10.5

11.6

29.5

10.2

11.2

28

9.9

11

26.7

9.8

10.9

27.2

9.6

10.9

26.8

9.7

10.9

28.6

9.5

10.6

27.8

9.3

10.5

28.4

9.1

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

Labour Cost Index

Q/Q-1 % (1)

– 1.1

0.5

1.0

0.8

0.3

Q/Q-4 % (³)

– 1

1.9

0.2

2.2

3.6

Employment

Q/Q–1 % (1)

:

:

:

:

:

Q/Q-4 %

0.4

1.8

1.1

0.8

2.2

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

Industrial production

Production in construction

Retail trade deflated turnover

General government deficit (–)  
/surplus (+)

General government gross debt

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

M/M–1 % (1)

M/M–12 % (³)

M/M–1 % (1)

0.8

0.3

0

0.8

2.1

0.9

M/M–12 % – 5.6

– 3.2

M/M–1 % (1)

M/M–12 % 

4.8

0.2

4.3

4.9

– 1.2

0.3

– 0.9

– 6.5

– 5.2

2.4

5.9

3.4

1.3

– 2.9

1.5

3.2

– 3.8

– 2

– 1.3

– 4.2

– 2.9

0.1

1.9

1.3

– 0.8

– 4.1

3.6

3.6

– 0.6

– 1.2

0.6

1

2.5

0.8

– 3.4

– 4.2

1.2

3.7

0.5

2.8

– 2.1

0.8

– 1.5

– 2.8

– 2.4

2.5

2.2

– 1

0

– 2

1.8

3.5

– 0.9

1.8

0.8

– 1.1

– 1.3

4.3

:

:

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

%

%

– 1.1

– 7.2

– 3

– 2.5

130.4

129

128.9

131.7

:

:

Economic sentiment indicator (²)

index

106.8

105.3

104.5

107.3

105.2

106.1

106

105.8

106.4

108.2

108.7

109.5

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

3-month interest rate

Long term government  
bond yields

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

%

%

–

–

–

–

–

2.71

3.23

2.84

3.13

3.15

–

3.2

–

–

–

–

–

–

3.06

2.91

3.26

3.33

3.51

3.74

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.
(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
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 — 01/2017 edition

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2 

Portugal 

 Graph 1: Output 

Growth rate 

9.0

6.0

3.0

0.0

-3.0

-6.0

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

GDP (q/q-1)

Industrial Production (m/m-1)

Economic Sentiment Indicator

  Graph 2: Demand 

Index

Growth rate (PFC,I)

Growth rate (RT)

115.0

110.0

105.0

100.0

95.0

90.0

4.0

2.0

0.0

-2.0

-4.0

-6.0

6.0

3.0

0.0

-3.0

-6.0

-9.0

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

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

10.0

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

Employment (q/q-1)

Labour cost index (q/q-1)

Unemployment rate Total (%)

  Graph 4: Prices 

Growth rate

Growth rate

2.0

1.0

0.0

-1.0

-2.0

3.0

2.0

1.0

0.0

-1.0

-2.0

-3.0

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

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

-1,000

-1,200

-1,400

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

External trade balance

BOP current account

%

6.0

5.0

4.0

3.0

2.0

1.0

0.0

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

Long-term government bond yields

3-month interest rates

Euro-dollar exchange rates

€/$

1.600

1.400

1.200

1.000

0.800

0.600

0.400

Eurostatistics — 01/2017  __________________________________________________________________________

67

 
 
 
 
 
 
2 Principal European Economic Indicators (PEEIs)

Detailed PEEIs analysis for Romania

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)

1.8

2.1

0

0.9

2.2

6.2

1.5

3.1

– 2.5

1.5

2.9

6.3

0.6

– 1.6

– 6.5

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

3.6

6.4

2.1

3.8

7.3

17.6

4.3

9.5

2.3

6

10.8

10.7

4.4

6.7

2.8

External trade balance  
(extra EU28)(²)

BOP Current account  
(all countries of the world)

Inflation (Harmonized Index  
of Consumer Prices - All items)

Industrial producer prices

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

mn euro

– 27.2

– 48.2

– 129

– 80.8

– 123.6

– 44.2

– 139

– 153

– 68.5

– 56.1

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

– 843.5 – 1357.1

– 701

– 1325.7

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

M/M–1 %

– 0.6

M/M–12 %

– 1.5

M/M–1 %

– 0.8

– 0.3

– 2.1

– 1

0.2

– 2.4

0.1

M/M–12 %

– 2.4

– 3.6

– 3.8

0

– 2.6

– 0.2

– 3.3

0.3

– 3

0.2

– 0.2

– 0.7

0.6

– 3.1

– 2.7

– 0.2

– 0.3

– 0.3

– 2.5

0

0.3

– 0.4

– 2.3

– 0.2

– 0.1

0.3

0.5

0.1

1

– 1.8

– 0.7

0

– 0.2

– 0.1

– 0.8

:

:

:

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Unemployment  
rate

total (²)

age <25year (²)

age >25 year (²)

%

%

%

6.5

21

5.4

6.4

21

5.3

6.4

21

5.3

6.1

20.4

5.1

6.2

20.4

5.2

6

20.4

5

6

20.3

4.9

5.8

20.3

4.7

5.8

20.3

4.8

5.8

:

4.7

5.7

:

4.7

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

Labour Cost Index

Q/Q-1 % (1)

2.3

3.9

2.9

3.7

3.4

Q/Q-4 % (³)

5.9

8.6

11.9

13.3

14.7

Employment

Q/Q–1 % (1)

–

–

–

–

–

Q/Q-4 %

– 1

– 0.8

0.3

– 1.5

– 1.4

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

Industrial production

Production in construction

Retail trade deflated turnover

General government deficit (–)  
/surplus (+)

General government gross debt

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

M/M–1 % (1)

– 2

0.8

M/M–12 % (³)

– 1.5

– 0.9

M/M–1 % (1)

– 9.7

M/M–12 %

M/M–1 % (1)

0.4

2.4

M/M–12 % 

15.7

2.7

4.4

0.5

19

0.8

– 2

– 1

– 4.7

1.4

18.6

2.1

4.3

5.3

12.6

1.1

20.4

– 4.2

– 1.3

– 2.6

8.5

– 0.7

13.8

2.2

– 1.3

– 1.3

1.5

1.6

16

0.8

1.1

– 2

0.2

– 0.4

13.6

0.9

2.9

– 1.9

– 5.1

0.2

11.8

0.8

3.5

1.6

– 0.8

2

0.7

2.7

– 2.2

– 4.1

– 1.6

– 1.5

– 13.9

0

9.8

0.8

8.7

1.4

9.5

:

:

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

%

%

0.4

– 3.9

– 2.5

– 2.3

36.6

37.9

37.2

36.7

:

:

Economic sentiment indicator (²)

index

104.5

102.4

102.8

104

103.6

103.2

103.6

104.2

103.5

104

105

104.1

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

3-month interest rate

Long term government  
bond yields
New Romanian leu exchange 
rates against the euro

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

%

%

0.72

0.58

3.6

3.33

0.57

3.34

0.56

3.49

0.55

3.43

0.57

3.48

0.6

3.14

0.58

2.93

0.53

2.92

0.51

2.94

0.58

3.56

0.62

3.73

Average

4.53

4.48

4.47

4.47

4.50

4.52

4.49

4.46

4.45

4.49

4.51

4.52

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.
(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
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 — 01/2017 edition

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2 

Romania 

 Graph 1: Output 

Growth rate 

9.0

6.0

3.0

0.0

-3.0

-6.0

  Graph 2: Demand 

Index

Growth rate (PFC,I)

Growth rate (RT)

115

110

105

100

95

90

12.0

8.0

4.0

0.0

-4.0

-8.0

3.0

2.0

1.0

0.0

-1.0

-2.0

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

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

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

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

Employment (q/q-1)

Labour cost index (q/q-1)

Unemployment rate Total (%)

  Graph 4: Prices 

Growth rate

Growth rate

9.0

7.0

5.0

3.0

1.0

-1.0

-3.0

3.0

2.0

1.0

0.0

-1.0

-2.0

-3.0

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

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
-1,000
-1,200
-1,400
-1,600

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

%

5.0

4.0

3.0

2.0

1.0

0.0

-1.0

Romenian Leu/€

4.700

4.600

4.500

4.400

4.300

4.200

4.100

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

Long-term government bond yields

3-month interest rates

External trade balance

BOP current account

Romanian leu exchange rates against euro

Eurostatistics — 01/2017  __________________________________________________________________________

69

 
 
 
 
 
 
2 Principal European Economic Indicators (PEEIs)

Detailed PEEIs analysis for Slovenia

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)

0.2

0.9

Investment (GFCF) (volume)

Q/Q-1 % (1)

– 0.3

0.7

0.2

0.4

0.6

0.8

– 5.9

0.7

1.3

2.6

1

0.4

– 0.6

Q/Q-4 %

Q/Q-4 %

2

1.1

Q/Q-4 % – 0.2

2.8

0.6

5.4

2.3

1.6

2.8

3.4

2.7

2.8

– 7.7

– 3.4

– 3.6

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

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

BOP Current account  
(all countries of the world)

mn euro

160.5

84.9

94.7

141.2

179.2

131

90.6

150.5

220.5

217.9

mn euro

– 29.8 – 101.2

– 114.9

– 55.5

– 24.9

– 61.8

– 117.4

– 84.2

33.4

19.8

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

641.2

459.9

728.9

826.4

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Inflation (Harmonized Index  
of Consumer Prices - All items)

Industrial producer prices

M/M–1 %

– 1.3

M/M–12 %

– 0.8

M/M–1 %

M/M–12 %

– 0.1

– 1.5

0

– 0.9

– 0.4

– 1.4

0.8

– 0.9

– 0.3

– 1.9

0.3

– 0.7

– 0.1

– 1.9

0.8

– 0.5

0.2

0.5

0.1

0.1

– 0.9

– 0.1

0

– 0.1

– 0.2

0

– 1.8

– 1.7

– 1.7

– 1.5

0.3

0.2

0.1

– 1

0.4

0.7

– 0.2

– 1.2

0.1

0.7

0

– 0.8

:

:

:

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Unemployment  
rate

total (²)

age <25year (²)

age >25 year (²)

%

%

%

8.4

16.1

7.7

8.3

16.1

7.7

8.3

16.1

7.7

8

14.9

7.6

8

14.9

7.5

8

14.9

7.4

7.8

15.4

7.3

7.8

15.4

7.2

7.7

15.4

7.1

7.6

:

6.9

7.6

:

6.9

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

Labour Cost Index

Q/Q-1 % (1)

– 1.2

1.3

0.8

0.7

0.4

Q/Q-4 % (³)

– 1.5

1

0.8

1.8

3.5

Employment

Q/Q–1 % (1)

0.3

0.4

0.6

0.6

0.5

Q/Q-4 %

1.1

1.1

1.6

2

2.1

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Industrial production

Production in construction

M/M–1 % (1)

4

M/M–12 % (³)

6.2

0.3

6.3

– 0.4

4.9

0.5

5.7

M/M–1 % (1)

– 0.9

– 1.3

– 7.6

10.6

0.7

5.3

4.5

0.4

6.2

0.4

1.1

7.1

– 0.4

6.3

– 0.5

– 2.3

1.4

7.6

5.7

– 0.5

6.6

– 6.8

M/M–12 % – 25.9

– 29.7

– 36

– 27.4

– 19.5

– 17.9

– 15.8

– 14.9

– 7.4

– 12.5

Retail trade deflated turnover

M/M–1 % (1)

M/M–12 % 

1.4

1.8

– 1.1

– 1.3

0.6

0.4

1.2

1.8

– 0.1

0.4

0.8

2.2

1.1

3.3

0.3

3.5

– 0.3

2

4.2

9.5

0.9

7.4

:

:

1.4

11.3

:

:

:

:

:

:

General government deficit (–)  
/surplus (+)

General government gross debt

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

%

%

– 1.9

– 1.8

– 3.4

0.5

84.3

83.1

83.5

82.3

:

:

Economic sentiment indicator (²)

index

105.3

105

104.7

107.4

104.8

105

106.7

108.3

107.3

109.3

110.3

109.3

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

3-month interest rate

Long term government  
bond yields

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

%

%

–

–

–

–

–

–

1.61

1.59

1.48

1.37

1.41

1.36

–

0.95

–

0.8

–

–

–

–

0.75

0.62

0.89

0.96

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.
(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
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 — 01/2017 edition

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2 

Slovenia 

 Graph 1: Output 

Growth rate 

9.0

6.0

3.0

0.0

-3.0

-6.0

  Graph 2: Demand 

Index

Growth rate (PFC,I)

Growth rate (RT)

115

110

105

100

95

6.0

3.0

0.0

-3.0

-6.0

-9.0

5.0
4.0
3.0
2.0
1.0
0.0
-1.0
-2.0

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

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

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

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

Employment (q/q-1)

Labour cost index (q/q-1)

Unemployment rate Total (%)

  Graph 4: Prices 

Growth rate

Growth rate

2.0

1.0

0.0

-1.0

-2.0

3.0

2.0

1.0

0.0

-1.0

-2.0

-3.0

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

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions 

  Graph 6: Financial 

Mio EUR 

1,000

800

600

400

200

0

-200

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

External trade balance

BOP current account

%

6.0

5.0

4.0

3.0

2.0

1.0

0.0

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

Long-term government bond yields

3-month interest rates

Euro-dollar exchange rates

€/$

1.600

1.400

1.200

1.000

0.800

0.600

0.400

Eurostatistics — 01/2017  __________________________________________________________________________

71

 
 
 
 
 
 
2 Principal European Economic Indicators (PEEIs)

Detailed PEEIs analysis for Slovakia

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)

:

:

:

:

:

:

:

:

:

:

:

:

:

:

:

Q/Q-4 %

Q/Q-4 %

3.9

2.4

4.6

2.4

Q/Q-4 %

20.7

21.9

3.4

2.6

1.8

3.8

3.1

3

2.5

– 1.1

– 17

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

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

BOP Current account  
(all countries of the world)

mn euro

– 67.4

– 51.4

– 82.1

– 89.9

– 51.4

– 71.8

– 137.2

– 68

– 63.5

– 113.9

mn euro

– 308.4 – 284.1

– 247.1

– 247.5

– 297.1

– 311.8

– 318.6 – 280.8

– 267.2 – 280.4

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

– 502.2

148.9

– 107.9

261.4

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Inflation (Harmonized Index  
of Consumer Prices - All items)

Industrial producer prices

M/M–1 %

M/M–12 %

M/M–1 %

– 0.3

– 0.6

– 1.3

M/M–12 %

– 5.3

0.1

– 0.3

– 1.7

– 4.8

0

– 0.5

– 0.7

– 6.2

0.4

– 0.4

– 0.1

– 5.8

– 0.1

– 0.7

0.3

0.1

– 0.7

0.4

– 5.9

– 4.6

– 0.4

– 0.9

0.1

– 4.7

– 0.1

– 0.8

– 0.5

– 4.9

0

0.3

0.1

– 0.5

– 0.3

– 0.2

0.3

0.4

0.5

– 3.3

– 2.9

– 2.6

:

:

:

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Unemployment  
rate

total (²)

age <25year (²)

age >25 year (²)

%

%

%

10.4

24.8

9.3

10.2

24.4

9.1

10.1

23.8

9

10

23

9

9.9

22.5

8.9

9.8

22.1

8.8

9.7

21.7

8.7

9.6

21.5

8.6

9.4

21.4

8.4

9.2

21.2

8.2

9

20.9

8

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

Labour Cost Index

Q/Q-1 % (1)

– 0.3

2.1

0.3

– 0.6

2.6

Q/Q-4 % (³)

3.1

5.4

4

1.3

4.5

Employment

Q/Q–1 % (1)

:

:

:

:

:

Q/Q-4 %

2.2

2

2.2

2.3

2.4

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Industrial production

Production in construction

Retail trade deflated turnover

General government deficit (–)  
/surplus (+)

General government gross debt

– 0.3

– 1.1

M/M–1 % (1)

– 1.6

M/M–12 % (³)

1.9

M/M–1 % (1)

– 7.5

3.1

7.1

1.3

M/M–12 %

16.2

18.7

M/M–1 % (1)

– 1.1

M/M–12 % 

0.5

0.2

0.4

– 2.9

– 1.8

– 5.8

– 0.5

0.9

2

3.7

7.4

9.2

– 1.7

– 2.3

– 4

0.6

3.7

– 9

0.4

4

2.4

1.6

– 8.6

– 0.1

2.6

– 16.3

– 14.1

– 11.1

– 23

– 1

– 0.6

26.5

17.3

6.9

– 4

4.1

– 0.6

3.3

– 3.7

– 3.5

– 9.1

– 17.9

– 22.1

1.1

1.9

0.2

1.5

– 0.1

0.8

1

2.4

:

:

1.4

3.9

:

:

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

%

%

– 1.6

– 4.4

– 2

– 1.7

53.9

52.9

52.2

53.3

:

:

Economic sentiment indicator (²)

index

102.5

102.6

102.8

99.6

98

98.6

103.9

99.9

103.4

102.8

101.3

103.8

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

3-month interest rate

Long term government  
bond yields

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

%

%

–

–

–

–

–

–

0.71

0.56

0.43

0.38

0.41

0.77

–

0.49

–

0.3

–

–

–

–

0.32

0.42

0.72

1.01

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.
(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
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 — 01/2017 edition

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2 

Slovakia 

 Graph 1: Output 

Growth rate 

30.0

20.0

10.0

0.0

-10.0

-20.0

  Graph 2: Demand 

Index

Growth rate (PFC,I)

Growth rate (RT)

110

105

100

95

90

85

6.0

3.0

0.0

-3.0

-6.0

-9.0

3.0

2.0

1.0

0.0

-1.0

-2.0

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

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

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

8.5

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

Employment (q/q-1)

Labour cost index (q/q-1)

Unemployment rate Total (%)

  Graph 4: Prices 

Growth rate

Growth rate

3.0

2.0

1.0

0.0

-1.0

-2.0

3.0

2.0

1.0

0.0

-1.0

-2.0

-3.0

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

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

-300

-400

-500

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

External trade balance

BOP current account

%

6.0

5.0

4.0

3.0

2.0

1.0

0.0

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

Long-term government bond yields

3-month interest rates

Euro-dollar exchange rates

€/$

1.600

1.400

1.200

1.000

0.800

0.600

0.400

Eurostatistics — 01/2017  __________________________________________________________________________

73

 
 
 
 
 
 
2 Principal European Economic Indicators (PEEIs)

Detailed PEEIs analysis for Finland

Indicators

Unit

Reference Period

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

GDP (volume)

Q/Q-1 % (1)

– 0.3

Private final consumption  
(volume)

Q/Q-1 % (1)

Investment (GFCF) (volume)

Q/Q-1 % (1)

0.8

0.4

0.5

0.3

1.2

0.8

0.4

0.2

– 0.1

0.9

2.1

0.4

0.5

– 0.3

Q/Q-4 % – 0.1

0.8

Q/Q-4 %

1.4

Q/Q-4 % – 0.7

2

2

1.7

1.5

0.7

1.6

2.5

4.6

1.6

2.1

3.1

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

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

BOP Current account  
(all countries of the world)

mn euro

113.2

236

277.5

213.1

194.3

181.3

192.9

215.1

328.8

200.9

mn euro

535.1

559

644.7

489.9

526.3

593.6

556.5

546.9

678.1

547.7

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

816.6

292.8

– 346.7 – 1600.9

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Inflation (Harmonized Index  
of Consumer Prices - All items)

Industrial producer prices

M/M–1 %

– 0.5

M/M–12 %

0

M/M–1 %

– 0.3

M/M–12 %

– 1.5

0.2

– 0.1

– 0.9

– 3.5

0.5

0

0.3

0.3

0.3

0.1

– 3.6

– 3.7

– 0.1

0.3

0.5

– 3

0.1

0.3

0.4

– 2.4

– 0.1

0.5

– 0.2

– 2.8

0

0.5

0.1

– 1.9

0.2

0.5

0.2

– 1

0.2

0.6

1

0.1

0

0.6

0.6

0.8

:

:

:

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Unemployment  
rate

total (²)

age <25year (²)

age >25 year (²)

%

%

%

9.2

21.5

7.6

9.1

21.4

7.5

9.1

21.2

7.4

9

21

7.4

8.9

20.8

7.3

8.9

20.7

7.3

8.8

20.5

7.2

8.7

20.2

7.1

8.7

20.1

7.1

8.7

20.2

7.1

8.8

20.2

7.2

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

Labour Cost Index

Q/Q-1 % (1)

– 1.3

0.1

1.1

– 1.3

1.3

Q/Q-4 % (³)

0.9

0.9

1.3

– 2

1.4

Employment

Q/Q–1 % (1)

0

0.1

0.4

0

0.3

Q/Q-4 %

– 0.3

– 0.2

0.3

0.5

0.9

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

Industrial production

Production in construction

Retail trade deflated turnover

General government deficit (–)  
/surplus (+)

General government gross debt

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

M/M–1 % (1)

– 1.9

M/M–12 % (³) – 1.6

M/M–1 % (1)

M/M–12 %

M/M–1 % (1)

M/M–12 % 

1.7

6

0.4

1.6

2.3

3.2

3

7.9

0.1

0.5

– 2.1

– 2.4

– 0.9

2.9

0.4

0.6

2.4

2.4

1.8

7

– 1

0

0.1

2.6

1

6.2

1.5

1.6

1

3.7

– 0.6

5.5

– 0.6

0.8

0.8

5.6

– 0.7

4.8

0.1

0.7

– 2.8

– 1.1

1.7

6.6

0.6

1.8

2.8

4

0.1

4.6

– 0.1

– 0.3

7.4

0.5

3.2

5.6

0.6

3.6

0

3.9

:

:

0.1

2.3

:

:

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

%

%

– 2.1

– 8.4

– 1.2

61.4

63.6

64.2

2.6

61.6

:

:

Economic sentiment indicator (²)

index

99.1

95.3

97.6

97.2

96.8

98

98.5

101

104.9

102.8

101.8

106

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

3-month interest rate

Long term government  
bond yields

%

%

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

–

–

–

–

–

–

–

–

–

–

–

–

0.78

0.53

0.53

0.46

0.45

0.33

0.12

0.06

0.08

0.17

0.41

0.46

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.
(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
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 — 01/2017 edition

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2 

Finland 

 Graph 1: Output 

Growth rate 

9.0

6.0

3.0

0.0

-3.0

-6.0

  Graph 2: Demand 

Index

Growth rate (PFC,I)

Growth rate (RT)

110

105

100

95

90

4.0

3.0

2.0

1.0

0.0

-1.0

3.0

2.0

1.0

0.0

-1.0

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

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

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 

% 

9.4

9.0

8.6

8.2

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

Employment (q/q-1)

Labour cost index (q/q-1)

Unemployment rate Total (%)

  Graph 4: Prices 

Growth rate

Growth rate

2.0

1.0

0.0

-1.0

-2.0

3.0

2.0

1.0

0.0

-1.0

-2.0

-3.0

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

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions 

  Graph 6: Financial 

Mio EUR 

1,000

500

0

-500

-1,000

-1,500

-2,000

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

External trade balance

BOP current account

%

6.0

5.0

4.0

3.0

2.0

1.0

0.0

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

Long-term government bond yields

3-month interest rates

Euro-dollar exchange rates

€/$

1.600

1.400

1.200

1.000

0.800

0.600

0.400

Eurostatistics — 01/2017  __________________________________________________________________________

75

 
 
 
 
 
 
2 Principal European Economic Indicators (PEEIs)

Detailed PEEIs analysis for Sweden

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)

1.2

0.7

1.2

1.4

0.8

3.1

0.4

0.7

1.4

0.6

– 0.1

1.9

0.5

0.4

0

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

4.2

2.8

5.9

5.1

3.3

7.9

3.7

2.9

6.8

4.6

2.2

9.1

2.8

1.7

6.3

External trade balance  
(extra EU28)(²)

BOP Current account  
(all countries of the world)

Inflation (Harmonized Index  
of Consumer Prices - All items)

Industrial producer prices

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

mn euro

1255.4

1168.3

1311.9

1408.7

1115.8

1125

1187.4

961.7

1351.9

1231.2

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

6982.7

5908.5

6117.3

3877.6

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

M/M–1 %

– 0.6

M/M–12 %

1.3

M/M–1 %

– 0.2

M/M–12 %

– 1.6

0.3

0.8

– 0.3

– 2.4

0.5

1.2

0.5

0

1

– 1

– 1.9

– 2.5

0.2

0.8

– 0.2

– 2.4

0.1

1.2

1

– 0.5

0.1

1.1

0

0.1

– 0.1

1.2

0.4

0.7

0.2

0.8

– 0.1

0.7

0.4

1.1

2

2

0

1.3

0.9

3.2

:

:

:

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Unemployment  
rate

total (²)

age <25year (²)

age >25 year (²)

%

%

%

7

7.1

19.7

19.4

5.2

5.3

7.2

19.3

5.5

6.7

18.4

5.1

7.1

20.1

5.3

6.6

16.8

5.2

7

20.1

5.3

7.2

19.5

5.5

6.7

17.2

5.3

6.9

18.3

5.3

6.8

17.7

5.3

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

Labour Cost Index

Q/Q-1 % (1)

0.8

1.2

0.4

0.5

0.9

Q/Q-4 % (³)

2.6

3.4

3.3

2.8

2.9

Employment

Q/Q–1 % (1)

0.6

0.6

0.5

0.4

– 0.3

Q/Q-4 %

1.1

1.8

1.7

2.3

1.1

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

Industrial production

Production in construction

Retail trade deflated turnover

General government deficit (–)  
/surplus (+)

General government gross debt

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

M/M–1 % (1)

M/M–12 % (³)

M/M–1 % (1)

2.3

7.2

2.9

M/M–12 %

20.6

M/M–1 % (1)

M/M–12 % 

0.8

3.2

0

6.1

– 1.6

14.1

0.2

2.8

0.6

6.1

2.2

15.9

– 0.4

1.2

– 0.2

3.1

– 1

11.9

0.4

1.8

– 2.7

– 1.8

1.5

12.1

2.9

5.4

– 1

– 2.8

1.1

14.8

– 1.5

3

1.5

2.4

6.2

16.4

– 0.3

1.5

– 4

– 6.2

– 10.2

6.1

0.4

2.5

7.7

1.5

4.8

9.1

– 0.1

1.3

– 2.9

– 2.1

2.3

10.1

1.2

2.4

1.1

– 0.8

:

:

1.2

3.7

:

:

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

%

%

0.6

– 2.5

0.5

2.7

43.7

43.9

42.8

43.2

:

:

Economic sentiment indicator (²)

index

112.2

108.9

107.7

106.4

105.7

105.8

105.3

103.8

105.2

107.3

109.4

113.1

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

3-month interest rate

Long term government  
bond yields
Swedish Krona exchange 
rates against the euro

%

%

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

– 0.3

– 0.42

– 0.47

– 0.43

– 0.46

– 0.48

– 0.55

– 0.56

– 0.5

– 0.52

– 0.57

– 0.61

1.02

0.77

0.82

0.81

0.77

0.52

Average

9.28

9.41

9.28

9.20

9.29

9.33

0.17

9.47

0.1

0.22

0.24

0.43

9.49

9.57

9.71

9.85

0.61

9.71

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.
(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
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 — 01/2017 edition

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2 

Sweden 

 Graph 1: Output 

Growth rate 

9.0

6.0

3.0

0.0

-3.0

-6.0

  Graph 2: Demand 

Index

Growth rate (PFC,I)

Growth rate (RT)

115

110

105

100

95

90

6.0

4.0

2.0

0.0

-2.0

-4.0

6.0

4.0

2.0

0.0

-2.0

-4.0

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

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

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

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

Employment (q/q-1)

Labour cost index (q/q-1)

Unemployment rate Total (%)

  Graph 4: Prices 

Growth rate

Growth rate

1.5

1.0

0.5

0.0

-0.5

3.0

2.0

1.0

0.0

-1.0

-2.0

-3.0

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

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions 

  Graph 6: Financial 

Mio EUR 

7,000

6,000

5,000

4,000

3,000

2,000

1,000

0

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

%

4.0

3.0

2.0

1.0

0.0

-1.0

Swedish Krona/€

10.5

10.0

9.5

9.0

8.5

8.0

7.5

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

Long-term government bond yields

3-month interest rates

External trade balance

BOP current account

Swedish Krona exchange rates against euro

Eurostatistics — 01/2017  __________________________________________________________________________

77

 
 
 
 
 
 
2 Principal European Economic Indicators (PEEIs)

Detailed PEEIs analysis for United Kingdom

Indicators

Unit

Reference Period

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

GDP (volume)

Private final consumption  
(volume)

Q/Q-1 % (1)

0.3

Q/Q-1 % (1)

1

0.7

0.4

0.3

0.8

Investment (GFCF) (volume)

Q/Q-1 % (1)

0.8

– 0.9

– 0.5

0.6

0.8

1.1

0.6

0.7

0.9

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

1.3

2.1

4.5

2.2

2.9

1.6

2.1

3

– 1.2

1.6

3.1

0.9

0.6

2.8

– 0.4

External trade balance  
(extra EU28)(²)

BOP Current account  
(all countries of the world)

Inflation (Harmonized Index  
of Consumer Prices - All items)

Industrial producer prices

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

mn euro

– 3244.1 – 4840.3 – 8559.1 – 10891.7 – 7626.1 – 8375.1

– 8923.4 – 11883.7– 12302.6 – 4568.7

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

– 35744.1– 42323.7 – 33220.4 – 33021.9

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

M/M–1 %

– 0.8

M/M–12 %

M/M–1 %

M/M–12 %

0.3

– 1.1

– 4.1

0.2

0.3

0

– 5

0.4

0.5

1.4

0.1

0.3

0.7

0.2

0.3

0.8

– 4.2

– 3.7

– 3.4

0.2

0.5

1.1

– 2

– 0.1

0.6

0.4

– 0.9

0.3

0.6

0.1

1.4

0.2

1

0.6

1.9

0.1

0.9

2.2

4.5

0.2

1.2

– 0.7

4.4

:

:

:

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Unemployment  
rate

total (²)

age <25year (²)

age >25 year (²)

%

%

%

5.1

5

13.4

13.4

3.7

3.7

4.9

13.2

3.6

4.9

13.2

3.6

4.9

13.4

3.5

4.8

13.4

3.5

4.8

13.2

3.5

4.7

12.8

3.5

4.8

12.8

3.5

:

:

:

:

:

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

Labour Cost Index

Q/Q-1 % (1)

1.3

0.1

0.2

1.0

0.1

Q/Q-4 % (³)

4

4.3

0.2

2.6

1.4

Employment

Q/Q–1 % (1)

0.6

0.6

0.1

0.5

0.2

Q/Q-4 %

1.6

1.9

1.3

2

1.4

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

Industrial production

Production in construction

Retail trade deflated turnover

General government deficit (–)  
/surplus (+)

General government gross debt

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

M/M–1 % (1)

M/M–12 % (³)

0.7

0.4

M/M–1 % (1)

– 0.4

M/M–12 %

M/M–1 % (1)

M/M–12 % 

0.4

1.8

5.1

– 0.1

– 1.2

0.2

5.3

0.4

0.3

– 2.6

0

– 0.5

– 0.2

4.1

3.1

2.3

4.2

3.7

1.6

1.2

5.1

– 0.7

3.6

0

1.1

– 1.7

– 0.5

3.5

1.1

5.6

1.1

– 0.7

3.6

0.1

2.4

0.2

– 2.1

1.9

5.9

– 0.3

– 0.4

2.2

– 0.9

5.4

0.2

6.4

0.5

0.9

2.6

0.1

4.3

– 1.1

– 1.1

– 0.5

– 0.5

1.5

7.1

2.1

2.3

0.2

3

0.5

6.6

:

:

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

%

%

– 4.6

– 5.6

– 0.4

88.3

89.1

87.8

– 5

89.1

:

:

Economic sentiment indicator (²)

index

106.6

105

106

104.4

105.7

107

102.6

104

104.6

105.8

107.3

108.6

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

3-month interest rate

Long term government  
bond yields
Pound Sterling exchange 
rates against the euro

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

%

%

0.59

1.73

0.59

1.44

0.59

1.46

0.59

1.48

0.59

1.43

0.57

1.18

0.51

0.79

0.41

0.59

0.38

0.67

0.4

0.4

0.94

1.22

0.37

1.25

Average

0.75

0.78

0.78

0.79

0.78

0.79

0.84

0.86

0.85

0.89

0.87

0.84

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.
(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
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 — 01/2017 edition

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal European Economic Indicators (PEEIs)

2 

United Kingdom 

 Graph 1: Output 

Growth rate 

9.0

6.0

3.0

0.0

-3.0

-6.0

  Graph 2: Demand 

Index

Growth rate (PFC,I)

Growth rate (RT)

115

110

105

100

95

90

3.0

2.0

1.0

0.0

-1.0

-2.0

3.0

2.0

1.0

0.0

-1.0

-2.0

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

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

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

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

Employment (q/q-1)

Labour cost index (q/q-1)

Unemployment rate Total (%)

  Graph 4: Prices 

Growth rate

Growth rate

1.5

1.0

0.5

0.0

-0.5

3.0

2.0

1.0

0.0

-1.0

-2.0

-3.0

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

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions 

  Graph 6: Financial 

Mio EUR 

0
-5,000
-10,000
-15,000
-20,000
-25,000
-30,000
-35,000
-40,000
-45,000

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

%

4.0

3.0

2.0

1.0

0.0

-1.0

Pound Sterling/€

1.100

1.000

0.900

0.800

0.700

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

Long-term government bond yields

3-month interest rates

External trade balance

BOP current account

Pound Sterling exchange rates against euro

Eurostatistics — 01/2017  __________________________________________________________________________

79

 
 
 
 
 
 
2 Principal European Economic Indicators (PEEIs)

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)

1.8

0.4

Investment (GFCF) (volume)

Q/Q-1 % (1)

– 0.9

– 1.6

0.5

0.4

1.1

0.3

0

0.4

– 0.4

– 0.2

– 0.5

0

2.6

Q/Q-4 %

Q/Q-4 %

2.6

2.1

0.2

1.8

0.6

1.2

Q/Q-4 %

– 4.4

– 2.2

– 0.8

2.5

2.8

– 1

– 0.9

1.2

2.9

External trade balance  
(all countries of the world)

BOP Current account  
(all countries of the world)

Inflation (Harmonized Index  
of Consumer Prices - All items)

Industrial producer prices

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

mn euro

–

–

–

–

–

–

–

–

–

–

–

–

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

6793.2

5660.4

5670.2

4326.2

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

M/M–1 %

M/M–12 %

M/M–1 %

0.5

3.1

0.8

M/M–12 %

– 1.2

0.6

3.3

– 2.5

– 5.6

0.6

3.6

1.4

– 4

0.3

3.5

1

0.4

3.7

1.7

– 3.8

– 1.8

0.7

4.1

2

1.3

0.7

5

– 0.7

4.5

0.4

4.1

– 1.3

– 1.1

– 0.7

1.5

2

1.1

0.6

4.1

1.9

1.4

0.3

3.9

1.5

1.8

:

:

0

4.6

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Unemployment  
rate

total (²)

age <25year (²)

age >25 year (²)

%

%

%

4.8

11.2

3.8

4.7

11.1

3.7

4.7

11.7

3.6

4.6

11.5

3.6

4.7

11.5

3.7

4.8

10.9

3.9

5

11.1

4

4.9

10.9

4

4.8

10.4

4

4.8

10.5

3.9

:

:

:

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

Labour Cost Index

Q/Q-1 % (1)

–

–

–

–

–

Q/Q-4 % (³)

–

–

–

–

–

Employment

Q/Q–1 % (1)

0

– 0.1

– 0.1

0

0.1

Q/Q-4 %

0.1

– 0.2

– 0.1

– 0.2

– 0.1

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

Industrial production

Production in construction

Retail trade deflated turnover

General government deficit (–)  
/surplus (+)

General government gross debt

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

M/M–1 % (1)

M/M–12 % (³)

M/M–1 % (1)

M/M–12 %

M/M–1 % (1)

M/M–12 % 

1.3

0.9

–

–

0.7

0.5

0.3

– 0.7

–

–

– 0.6

– 0.9

– 0.3

– 1.7

–

–

– 0.7

– 1.7

0.8

– 0.4

6

–

–

0.2

– 4.3

1.5

–

–

1.9

2

– 3.9

– 5.8

–

–

– 0.9

0

4.2

0.5

–

–

– 0.6

– 1.4

– 4.4

– 5.3

– 6.5

– 12.5

–

–

0.5

– 1.1

–

–

– 0.4

– 0.5

10.1

0.7

–

–

1

0.2

0.5

1.3

–

–

0.2

0.4

:

:

–

–

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

%

%

5.3

31.1

3.1

32

6.9

6.2

32.9

35.3

:

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Economic sentiment indicator (²)

index

–

–

–

–

–

–

–

–

–

–

–

–

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

3-month interest rate (4)

Long term government  
bond yields (4)
Norwegian Krone exchange  
rates against the euro

%

%

1.16

1.45

1.09

1.39

Average

9.59

9.56

1.02

1.33

9.43

0.98

1.30

0.98

1.40

1.02

1.17

1.01

0.96

1.08

1.07

1.09

1.23

1.11

1.34

1.1

1.58

1.16

1.76

9.32

9.30

9.33

9.37

9.30

9.20

9.00

9.08

9.03

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.
(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
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)

80

 Eurostatistics — 01/2017 edition

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Norway 

 Graph 1: Output 

Growth rate 

12.0

9.0

6.0

3.0

0.0

-3.0

-6.0

Graph 3: Labour 

% 

5.2

4.8

4.4

4.0

3.6

Principal European Economic Indicators (PEEIs)

2 

  Graph 2: Demand 

Index

Growth rate (PFC,I)

Growth rate (RT)

3.0

2.0

1.0

0.0

-1.0

-2.0

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

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

Investment (I)(q/q-1)

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

3.0

2.0

1.0

0.0

-1.0

-2.0

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

GDP (q/q-1)

Industrial Production (m/m-1)

  Graph 4: Prices 

Growth rate

Growth rate

1.5

1.0

0.5

0.0

-0.5

3.0

2.0

1.0

0.0

-1.0

-2.0

-3.0

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

Industrial producer prices (m/m-1)

HICP (m/m-1)

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

Employment (q/q-1)

Labour cost index (q/q-1)

Unemployment rate Total (%)

Graph 5: External Transactions 

  Graph 6: Financial 

Mio EUR 

6,000

5,000

4,000

3,000

2,000

1,000

0

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

%

5.0

4.0

3.0

2.0

1.0

0.0

-1.0

Norvegian Krone/€

9.800

9.400

9.000

8.600

8.200

7.800

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

Long-term government bond yields

3-month interest rates

External trade balance

BOP current account

Norwegian Krone exchange rates against the euro

Eurostatistics — 01/2017  __________________________________________________________________________

81

 
 
 
 
 
 
2 Principal European Economic Indicators (PEEIs)

Detailed PEEIs analysis for Switzerland

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)

0.3

0.3

Investment (GFCF) (volume)

Q/Q-1 % (1)

– 0.2

0.5

0.1

0

0.3

0.5

2.2

0.6

0

– 0.6

0

0.1

0.5

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

0.8

1.2

2.3

0.5

0.8

0.1

1.1

1.2

3.7

2

1

1.6

1.3

0.5

2.4

External trade balance  
(all countries of the world)

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

Inflation (Harmonized Index  
of Consumer Prices - All items)

Industrial producer prices

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

mn euro

–

–

–

–

–

–

–

–

–

–

–

–

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

21472.4 15120.6

9726.0 19961.7

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

M/M–1 %

– 0.7

M/M–12 %

– 1.5

M/M–1 %

– 0.2

M/M–12 %

– 2.8

0.2

– 0.9

– 0.3

– 2.4

0.4

– 1

– 0.1

– 2.9

0.2

0.1

0

– 0.5

– 0.5

– 0.6

0.1

0.2

0.2

– 1.7

– 1.6

– 1.4

Unemployment  
rate

total (²)

age <25year (²)

age >25 year (²)

%

%

%

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

:

:

:

:

:

:

:

:

:

:

:
2015Q3

:
2015Q4

:
2016Q1

:
2016Q2

:
2016Q3

:

:

:

– 0.1

– 0.5

– 0.1

– 1.2

2016M07
:

:

:

0

0

– 0.2

– 1.1

0

0.1

– 0.3

– 0.3

0.2

0

– 0.3

– 0.2

0

– 0.6

– 0.5

– 0.9

:

:

:

:

2016M08 2016M09 2016M10 2016M11 2016M12
:

:

:

:

:

:

:

:

:

:

:
2015Q3

:
2015Q4

:
2016Q1

:
2016Q2

:
2016Q3

Labour Cost Index

Q/Q-1 % (1)

–

–

–

–

–

Q/Q-4 %

–

–

–

–

–

Employment

Q/Q–1 % (1)

:

:

:

:

:

Q/Q-4 %

1.1

0.5

1.3

1.7

2

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Industrial production

Production in construction

M/M–1 % (1)

M/M–12 % (³)

M/M–1 % (1)

M/M–12 %

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

Retail trade deflated turnover

M/M–1 % (1)

– 0.8

– 0.8

M/M–12 % 

– 0.5

– 1

– 0.2

– 1.5

– 0.1

– 2.1

– 0.1

– 2

– 0.3

– 3.2

– 0.2

– 3.1

– 0.1

– 2.7

0.3

1.1

– 2.2

– 0.7

–

–

–

–

0.7

0.8

–

–

–

–

:

:

General government deficit (–)  
/surplus (+)

General government gross debt

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

%

%

1.3

–

1.4

–

0.6

–

0.9

–

:

–

Economic sentiment indicator (²)

index

–

–

–

–

–

–

–

–

–

–

–

–

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

3-month interest rate (3)

Long term government  
bond yields (3)
Swiss Franc exchange  
rates against the euro

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

– 0.76

– 0.80

– 0.73

– 0.73

– 0.74

– 0.78

– 0.75

– 0.74

– 0.75

– 0.73

– 0.75

– 0.73

– 0.30

– 0.45

– 0.39

– 0.25

– 0.30

– 0.51

– 0.54

– 0.46

– 0.52

– 0.36

– 0.13

– 0.14

%

%

Average

1.09

1.10

1.09

1.09

1.11

1.09

1.09

1.09

1.09

1.09

1.08

1.08

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

82

 Eurostatistics — 01/2017 edition

 
Principal European Economic Indicators (PEEIs)

2 

Switzerland 

 Graph 1: Output 

Growth rate 

12.0

9.0

6.0

3.0

0.0

-3.0

-6.0

  Graph 2: Demand 

Index

Growth rate (PFC,I)

Growth rate (RT)

1

0.8

0.6

0.4

0.2

0

3.0

2.0

1.0

0.0

-1.0

-2.0

3.0

2.0

1.0

0.0

-1.0

-2.0

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

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

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 

% 

5.2

4.8

4.4

4.0

3.6

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

Employment (q/q-1)

Labour cost index (q/q-1)

Unemployment rate Total (%)

  Graph 4: Prices 

Growth rate

Growth rate

1.5

1.0

0.5

0.0

-0.5

3.0

2.0

1.0

0.0

-1.0

-2.0

-3.0

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

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions 

  Graph 6: Financial 

Mio EUR 

20,000

16,000

12,000

8,000

4,000

0

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

BOP current account

%

1.5

1.0

0.5

0.0

-0.5

-1.0

Swiss Franc/€

1.500

1.400

1.300

1.200

1.100

1.000

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

Long-term government bond yields

3-month interest rates

Swiss Franc exchange rates against the euro

Eurostatistics — 01/2017  __________________________________________________________________________

83

 
 
 
 
 
 
2 Principal European Economic Indicators (PEEIs)

Detailed PEEIs analysis for United States

Indicators

Unit

Reference Period

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

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

Q/Q-1 %

Q/Q-1 %

Q/Q-1 %

0.5

0.7

1.2

0.2

0.6

0.0

0.2

0.4

0.2

0.4

1.1

0.9

0.7

– 0.7

– 0.1

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2.2

3.1

3.6

1.9

2.6

3.2

1.6

2.4

2.7

1.3

2.7

0.6

1.7

2.8

– 0.7

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

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

Consumer Prices Index – All
items (2)

Industrial producer prices (2)

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

mn euro

– 57633.5 – 57685 – 50432.4 – 50639.4 – 53956.3 – 57262.4

– 53085.2

– 52640.0 – 50428.1

:

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

– 116765.6 – 107565.2 – 125047.9 – 112179.6 – 107140.3

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

M/M–1 %

M/M–12 %

0.2

1.4

M/M–1 %

– 0.6

M/M–12 %

– 2.9

0.1

1.0

– 0.6

– 3.6

0.4

0.9

0.3

0.5

1.1

0.7

0.4

1.0

0.8

0.3

1.0

0.9

– 3.7

– 2.8

– 3.3

– 2.8

– 0.2

0.8

– 0.3

– 2.9

0.1

1.1

– 0.4

– 2.5

0.2

1.5

0.4

– 0.6

0.1

1.6

0.3

0.0

– 0.2

1.7

:

:

:

:

:

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Unemployment  
rate (3)

total

age <25year 

age >25 year 

%

%

%

4.9

4.9

10.3

10.5

4.0

4.1

5.0

10.4

4.1

5.0

10.8

4.1

4.7

10.4

3.8

4.9

10.7

4.0

4.9

10.8

4.0

4.9

10.2

4.1

5.0

10.3

4.2

4.9

10.4

4.0

4.6

10.1

3.9

:

:

:

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

Q/Q-1 %

0.6

0.7

0.6

0.6

0.7

Q/Q-4 %

2.1

2.4

2.5

2.4

2.5

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

Employment (2)(5)

Q/Q–1 % (1)

0.2

0.4

1.0

0.0

0.4

Q/Q-4 %

1.6

1.4

1.9

1.6

1.9

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Industrial production

Production in construction

Retail trade deflated turnover

General government deficit (–)  
/surplus (+)

General government gross debt

M/M-1 % 

M/M-12 % 

M/M-1 % 

M/M-12 %

M/M-1 % 

M/M-12 % 

–

–

:

:

–

–

–

–

:

:

–

–

–

–

:

:

–

–

–

–

:

:

–

–

–

–

:

:

–

–

–

–

:

:

–

–

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

%

%

–

–

–

–

–

–

–

–

–

–

–

–

:

:

–

–

–

–

:

:

–

–

–

–

:

:

–

–

–

–

:

:

–

–

–

–

:

:

–

–

–

–

:

:

–

–

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Economic sentiment indicator

index

–

–

–

–

–

–

–

–

–

–

–

–

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

3-month interest rate

Long term government  
bond yields

%

%

Euro-dollar exchange rate

Average

0.62

0.62

2.09

1.09

1.78

1.11

0.63

1.89

1.11

0.63

0.64

1.81

1.13

1.81

1.13

0.65

1.64

1.12

0.70

1.50

1.11

0.81

1.56

1.12

0.85

1.63

1.12

0.88

1.76

1.10

0.91

2.14

1.08

0.98

2.49

1.05

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

84

 Eurostatistics — 01/2017 edition

 
Principal European Economic Indicators (PEEIs)

2 

United States 

 Graph 1: Output 

Growth rate 

  Graph 2: Demand 

Growth rate (PFC,I)

3.0

2.0

1.0

0.0

-1.0

-2.0

-3.0

3.0

2.0

1.0

0.0

-1.0

-2.0

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

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

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

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

Employment (q/q-1)

Labour cost index (q/q-1)

Unemployment rate Total (%)

  Graph 4: Prices 

Growth rate

Growth rate

1.5

1.0

0.5

0.0

-0.5

3.0

2.0

1.0

0.0

-1.0

-2.0

-3.0

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

Industrial producer prices (m/m-1)

CPI (m/m-1)

Graph 5: External Transactions 

  Graph 6: Financial 

Mio EUR 

0

-20,000

-40,000

-60,000

-80,000

-100,000

-120,000

-140,000

%

5.0

4.0

3.0

2.0

1.0

0.0

-1.0

€/$

1.5

1.4

1.3

1.2

1.1

1.0

0.9

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

External trade balance

BOP current account

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

Long-term government bond yields

3-month interest rates

Euro-dollar exchange rate

Eurostatistics — 01/2017  __________________________________________________________________________

85

 
 
 
 
 
 
2 Principal European Economic Indicators (PEEIs)

Detailed PEEIs analysis for Japan

Indicators

Unit

Reference Period

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

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

Q/Q-1 %

Q/Q-1 %

Q/Q-1 %

0.2

0.5

0.5

– 0.4

– 0.7

0.7

0.4

– 0.5

– 0.2

0.5

0.2

1.7

0.3

0.3

0.1

Q/Q-4 %

Q/Q-4 %

Q/Q-4 %

2.1

1.2

1.4

1.2

0.3

– 0.1

– 0.2

0.2

– 0.7

0.9

0.4

1.5

1.0

0.2

1.1

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

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

Consumer Prices Index – All
items (2)

Industrial producer prices (2)

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

mn euro

906.9

1065.3

1924.3

2797.8

1910.3

2810.6

2712.7

3395.5

3157.0

4075.6

:

:

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

mn euro

30917.6 37509.4 40867.2 40726.8 46082.6

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

M/M–1 %

M/M–12 %

M/M–1 %

– 0.3

– 0.1

– 1.2

M/M–12 %

– 3.0

0.1

0.2

– 0.4

– 3.2

0.1

0.0

0.0

– 3.5

0.2

– 0.3

– 0.4

– 4.0

0.1

– 0.5

0.0

– 0.1

– 0.4

0.3

– 4.2

– 4.0

– 0.2

– 0.4

– 0.1

– 3.7

0.0

– 0.5

– 0.2

– 3.4

0.2

– 0.5

– 0.1

– 3.2

0.6

0.1

0.2

– 2.5

0.0

0.5

:

:

:

:

:

:

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Unemployment  
rate (3)

total

age <25year 

age >25 year 

%

%

%

3.2

5.0

–

3.3

5.9

–

3.2

5.8

–

3.2

4.9

–

3.2

5.3

–

3.1

5.2

–

3.0

4.8

–

3.1

5.4

–

3.0

5.3

–

3.0

5.1

–

3.1

4.3

–

:

:

–

Labour Cost Index (2)(4)

Q/Q-1 %

0.5

0.0

0.5

0.0

0.2

Q/Q-4 %

0.3

0.4

1.1

1.0

0.7

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

Employment (2)(5)

Q/Q–1 % (1)

0.3

0.0

0.5

0.1

0.6

Q/Q-4 %

0.4

0.4

0.7

0.9

1.3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

Industrial production

Production in construction

Retail trade deflated turnover

General government deficit (–)  
/surplus (+)

General government gross debt

M/M-1 %

M/M-12 %

M/M-1 %

M/M-12 %

M/M-1 %

M/M-12 %

–

–

:

:

–

–

–

–

:

:

–

–

–

–

:

:

–

–

–

–

:

:

–

–

–

–

:

:

–

–

–

–

:

:

–

–

2015Q3

2015Q4

2016Q1

2016Q2

2016Q3

%

%

–

–

–

–

–

–

–

–

–

–

–

–

:

:

–

–

–

–

:

:

–

–

–

–

:

:

–

–

–

–

:

:

–

–

–

–

:

:

–

–

–

–

:

:

–

–

Economic sentiment indicator

index

–

–

–

–

–

–

–

–

–

–

–

–

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

3-month interest rate

Long term government  
bond yields

%

%

2016M01 2016M02 2016M03 2016M04 2016M05 2016M06

2016M07

2016M08 2016M09 2016M10 2016M11 2016M12

0.08

0.01

– 0.01

– 0.02

– 0.03

– 0.03

– 0.03

– 0.02

– 0.03

– 0.02

– 0.06

– 0.04

0.10

– 0.07

– 0.05

– 0.09

– 0.12

– 0.24

– 0.18

– 0.07

– 0.09

– 0.06

0.02

:

Yen exchange rates exchange rate

Average

128.32

127.35

125.39

124.29

123.21

118.45

115.25

113.49

114.22

114.47

116.93

122.39

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

86

 Eurostatistics — 01/2017 edition

 
Principal European Economic Indicators (PEEIs)

2 

Japan 

 Graph 1: Output 

Growth rate 

3.0

2.0

1.0

0.0

-1.0

-2.0

-3.0

  Graph 2: Demand 

Growth rate (PFC,I)

3.0

2.0

1.0

0.0

-1.0

-2.0

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

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

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

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

Employment (q/q-1)

Labour cost index (q/q-1)

Unemployment rate Total (%)

  Graph 4: Prices 

Growth rate

Growth rate

1.5

1.0

0.5

0.0

-0.5

3.0

2.0

1.0

0.0

-1.0

-2.0

-3.0

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

Industrial producer prices (m/m-1)

HICP (m/m-1)

Graph 5: External Transactions 

  Graph 6: Financial 

Mio EUR 

50,000
45,000
40,000
35,000
30,000
25,000
20,000
15,000
10,000
5,000
0

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

External trade balance

BOP current account

%

5.0

4.0

3.0

2.0

1.0

0.0

-1.0

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

Long-term government bond yields

3-month interest rates

Yen exchange rates against the euro

Yen/€

160.0
150.0
140.0
130.0
120.0
110.0
100.0
90.0

Eurostatistics — 01/2017  __________________________________________________________________________

87

 
 
 
 
 
 
2 Principal European Economic Indicators (PEEIs)

Cross-country comparisons

Figure : Gross Domestic Product, in volume Q/Q–1
Quarterly growth in percentage, 2016 Q3

4.5
4.0
3.5
3.0
2.5
2.0
1.5
1.0
0.5
0.0
– 0.5
– 1.0

NO LU CH LT BE CZ DE EE FR LV PL EA19 IT HU JP EU28 DK FI AT SE RO UK BG ES CY EL NL PT US SI MT HR IE

Figure : Private Consumption, in volume Q/Q–1
Quarterly growth in percentage, 2016 Q3

3.3

2.3

1.3

0.3

– 0.7

– 1.7

MT LT PL CZ NL BG HR HU US IE UK EE ES LV FI EU28 BE DE PT SI SE JP EA19 EL AT FR IT CH NO DK LU RO

Figure : Balance of payments, current account
Quarterly growth in percentage, 2016 Q2

100 000.0

50 000.0

0.0

– 50 000.0

– 100 000.0

– 150 000.0

US UK FR FI RO PT CY EL LT LV MT CZ EE HR BE IS SK LU AT BG SI PL HU SE NO IE DK ES IT NL CH JPEU28 DE

88

 Eurostatistics — 01/2017 edition

 
Principal European Economic Indicators (PEEIs)

2

Figure : Harmonized Index of Consumer Prices: all items, M/M–1
Monthly growth in percentage, 2016 M11

1.0

0.0

– 1.0

– 2.0

– 3.0

CZ LT NO ES UK LV AT SI SK EU28 DE EE FR LU HU PL RO FI SE EA19 BE BG IE HR DK IT CH NL IS CY PT EL MT

Figure : Unemployment rates, harmonized rates: total
as a percentage of unemployed persons in the total number of active population, 2016 M11

25.0

20.0

15.0

10.0

5.0

0.0

IS

JP CZ DE US MT NL RO AT PL LU DK SE BG IE BE SI

LT EU28 FI SK FR LV EA19 PT HR IT CY

ES

Figure : Long term interest rates — Long term government bond yields*
average according to Maastricht definition, 2016 M11

10.0

8.0

6.0

4.0

2.0

0.0

EL RO PT CY PL HU HR US IT BG ES EU28 UK EA19 SI

IE MT SK FR BE LV CZ AT SE FI NL DK LT LU DE JP

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

Eurostatistics — 01/2017 edition  

89

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)
 Euro area (19 countries)
 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

EA-19:  
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 »  

Data presented in Section 2 of this publication have been extracted from Eurostat’s European and National Short-Term 
Indicators database on 13th January 2017.

90

 Eurostatistics — 01/2017 edition

 
 
HOW TO OBTAIN EU PUBLICATIONS 

Free publications: 

• one copy:

via EU Bookshop (http://bookshop.europa.eu);

• more than one copy or posters/maps:

from the European Union’s representations (http://ec.europa.eu/represent_en.htm);
from the delegations in non-EU countries (http://eeas.europa.eu/delegations/index_en.htm);
by contacting the Europe Direct service (http://europa.eu/europedirect/index_en.htm) or
calling 00 800 6 7 8 9 10 11 (freephone number from anywhere in the EU) (*).

(*)  The information given is free, as are most calls (though some operators, phone boxes or hotels may charge you).

Priced publications: 

• via EU Bookshop (http://bookshop.europa.eu).

Eurostatistics
DATA FOR SHORT-TERM ECONOMIC ANALYSIS

abstract: os aciistrum quam qui beatent hilici bea volorro od modiscianis 
seditius ad eum essitat quuntia cum quid mi, corporepro cor aut ducil iur, 
corumet rehentest od etur ad eos esecae si dolluptatium ium ditatquunt 
re secatem poreicatur moluptio di quam ipsunt aute quo volupid 
untempere estotat emquaspiet exernatur ma eatempe lignitatio et odi 
to vel idempos dolectu ribusam, sus plaborum quia sime sitis rem quiam 
simaio. cero molore entiisit occaturepe atiae lande consectumque veliqui 
squisit imus ellaut ea aspereium voloriosae cum fuga. occabor sim quias 
alit omnihiliquae cust, quiatur?

For more information
http://ec.europa.eu/eurostat/

k
S
-
b
J
-
1
7
-
0
0
1
-
E
N
N

-

PDF: iSbN  000-00-00-00000-0

Print: iSbN  000-00-00-00000-0