natgillin/translations-raw huggingface dataset:
¸ íáò áðü ôïõò êõñéüôåñïõò ðáñÜãïíôåò Þôáí ç éäéùôéêÞ êáôáíÜëùóç , ç ïðïßá ðáñïõóßáóå óôáèåñü ñõèìü áíüäïõ óå üëç ôç äéÜñêåéá ôïõ Ýôïõò , åíþ ïé áðïôáìéåýóåéò ôùí íïéêïêõñéþí ùò ðïóïóôü ôïõ ÁÅÐ åíäÝ ÷ åôáé åðßóçò íá ìåéþèçêáí êÜðùò ôï 1998 .
One main factor was private consumption , which maintained a stable growth rate throughout the year , while the household saving ratio may also have declined somewhat in 1998 .
Ãéá ôï óýíïëï ôïõ 1998 , åêôéìÜôáé üôé ç éäéùôéêÞ êáôáíÜëùóç áõîÞèçêå êáôÜ 3 % ðåñßðïõ . Ðñüêåéôáé ãéá ôïí õøçëüôåñï ñõèìü ðïõ Ý ÷ åé óçìåéùèåß áðü ôéò áñ ÷ Ýò ôçò äåêáåôßáò ôïõ 1990 êáé áíôéðñïóùðåýåé óçìáíôéêÞ âåëôßùóç óå óýãêñéóç ìå ôá ôåëåõôáßá Ýôç .
For 1998 as a whole , private consumption is estimated to have risen by around 3.0% , the highest rate of growth since the early 1990s and a significant improvement compared with the previous few years .
Åíþ èåùñåßôáé ãåíéêÜ üôé ôá áðïôåëÝóìáôá ôïõ ðëïýôïõ åßíáé ðåñéïñéóìÝíçò óçìáóßáò ãéá ôç æþíç ôïõ åõñþ êáé ðáñüôé ôï 1998 ðáñáôçñÞèçêå óçìáíôéêÞ áóôÜèåéá óôéò áãïñÝò ìåôï ÷ éêþí ôßôëùí , äåí áðïêëåßåôáé íá Ýðáéîáí êÜðïéï ñüëï êáé ïé áõîÞóåéò ôùí ôéìþí ôùí ìåôï ÷ þí . Ç åìðéóôïóýíç ôùí êáôáíáëùôþí óôç æþíç ôïõ åõñþ âåëôéùíüôáí óå üëç ôç äéÜñêåéá ôïõ 1998 ãéá äåýôåñï óõíå ÷ Ýò Ýôïò , âïçèþíôáò íá åíéó ÷ õèåß ç éäéùôéêÞ êáôáíÜëùóç .
While it is generally considered that wealth effects are of limited significance for the euro area , and 1998 witnessed substantial volatility in equity markets , it cannot be entirely ruled out that share price increases may also have played a role .
ÌÝ ÷ ñé ôï ôÝëïò ôïõ 1998 ï äåßêôçò åìðéóôïóýíçò ôùí êáôáíáëùôþí áõîÞèçêå êáé Ýöèáóå óôï áíþôåñï åðßðåäï ôçò äåêáåôßáò . Áðü Üëëïõò äåßêôåò ôçò êáôáíáëùôéêÞò æÞôçóçò , üðùò ï üãêïò ôùí ðùëÞóåùí êáé ïé åðé ÷ åéñçìáôéêÝò
Consumer confidence in the euro area continued to improve throughout the year , extending the rise in confidence for a second successive year and helping to underpin private consumption .
ÐçãÞ : Eurostat êáé õðïëïãéóìïß ÅÊÔ . ÅôÞóéá ¸ êèåóç ÅÊÔ -* 1998
By the end of 1998 the consumer confidence indicator had risen to match the highest level achieved in 1990 .
ðñïóäïêßåò óôïí ôïìÝá ôïõ ëéáíéêïý åìðïñßïõ , ðñïêýðôåé åðßóçò üôé ç êáôáíáëùôéêÞ æÞôçóç áõîÞèçêå ìå Ýíôïíï ñõèìü óôç äéÜñêåéá ôïõ 1998 , ãåãïíüò ðïõ õðïäçëþíåé üôé ç áõîçìÝíç åìðéóôïóýíç ôùí êáôáíáëùôþí åðçñÝáóå ôç äáðÜíç ôùí íïéêïêõñéþí .
Other indicators of consumer demand , such as retail sales and retail confidence , also pointed to robust growth during 1998 , suggesting that higher consumer confidence was feeding through to household expenditure .
Ïé áêáèÜñéóôåò åðåíäýóåéò ðÜãéïõ êåöáëáßïõ åêôéìÜôáé üôé áõîÞèçêáí êáôÜ 4,2% ôï 1998 .
Gross capital formation is estimated to have increased by 4.2% in 1998 .
Ç óõìâïëÞ ôùí áêáèÜñéóôùí åðåíäýóåùí ðÜãéïõ êåöáëáßïõ óôçí Üíïäï ôïõ ÁÅÐ Þôáí óçìáíôéêÜ õøçëüôåñç áðü ü , ôé ôï 1997 .
The contribution to growth from gross fixed capital formation was significantly higher than in 1997 .
ÔÝëïò , ç äçìüóéá êáôáíÜëùóç ãéá ïëüêëçñç ôç æþíç ôïõ åõñþ ðáñÝìåéíå êáé áõôÞ õðïôïíéêÞ óôç äéÜñêåéá ôïõ 1998 , åíþ ç óõìâïëÞ ôçò óôçí áýîçóç ôïõ ðñáãìáôéêïý ÁÅÐ Þôáí ó ÷ åäüí ìçäåíéêÞ .
Industrial production loses momentum Evidence of a slowdown in economic activity during 1998 was seen from spring onwards in the behaviour of industrial production and industrial confidence .
ÅðéâñÜäõíóç ôçò áýîçóçò ôçò âéïìç ÷ áíéêÞò ðáñáãùãÞò Ç åîÝëéîç ôçò âéïìç ÷ áíéêÞò ðáñáãùãÞò êáé ôùí åðé ÷ åéñçìáôéêþí ðñïóäïêéþí óôç âéïìç ÷ áíßá áðü ôçí Üíïéîç êáé Ýðåéôá ðáñïõóßáóå åíäåßîåéò åðéâñÜäõíóçò ôçò ïéêïíïìéêÞò äñáóôçñéüôçôáò ôï 1998 . Óýìöùíá ìå óôïé ÷ åßá ôçò Eurostat , ç
According to data from Eurostat , actual industrial production , excluding construction , is estimated to have risen by around 4 ¼% for the year as a whole , but slowed from a year-on-year rate of over 6 % in the first quarter of 1998 to around 2 % by the fourth quarter of the year ( see Table 3 ) . The slowdown in manufacturing
Ðßíáêáò 3 Âéïìç ÷ áíéêÞ ðáñáãùãÞ óôç æþíç ôïõ åõñþ
ECB Annual Report -* 1998 Table 3
1996 1997 1998 1998 1998 1998 1998 1998 1998 1998 1998 1998 1998 Á ´ ôñ . B ´ ôñ .
1996 1997 1998 1998 1998 1998 1998 1998 1998 1998 1998 1998 1998 Q1 Q2 Q3 Q4 July Aug .
Âéïìç ÷. ðáñáãùãÞ ðëçí êáôáóêåõþí åê ôçò ïðïßáò : Ìåôáðïßçóç êýñéåò ïìÜäåò âéïìç ÷ áíéêþí áãáèþí : ÅíäéÜìåóá áãáèÜ ÊåöáëáéáêÜ áãáèÜ ÊáôáíáëùôéêÜ áãáèÜ ÄéáñêÞ êáôáíáëùôéêÜ áãáèÜ Ìç äéáñêÞ êáôáíáëùôéêÜ áãáèÜ ÊáôáóêåõÝò ÐçãÞ : Åurostat .
Sep. Oct . Nov. Dec . Industrial production excluding construction of which : Manufacturing by main industrial groupings : Intermediate goods Capital goods Consumer goods Durables Non-durables Construction Source : Eurostat .
âéïìç ÷ áíéêÞ ðáñáãùãÞ , ðëçí ôùí êáôáóêåõþí , åêôéìÜôáé üôé áõîÞèçêå ìå ñõèìü ãýñù óôï 4,25% óôï óýíïëï ôïõ Ýôïõò , åíþ ï ñõèìüò ìåôáâïëÞò Ýíáíôé ôçò áíôßóôïé ÷ çò ðåñéüäïõ ôïõ 1997 åðéâñáäýíèçêå áðü 6 % ôï ðñþôï ôñßìçíï ôïõ 1998 óå ðåñßðïõ 2 % ôï ôÝôáñôï ôñßìçíï ôïõ Ýôïõò ( âë .
production in the course of 1998 was even more pronounced .
Áêüìç åíôïíüôåñç Þôáí ç åðéâñÜäõíóç ôçò ìåôáðïéçôéêÞò ðáñáãùãÞò óôç äéÜñêåéá ôïõ 1998 . H ìåãáëýôåñç Üíïäïò ôçò ðáñáãùãÞò ãéá ôï óýíïëï ôïõ 1998 óçìåéþèçêå óôïí ôïìÝá ôùí êåöáëáéáêþí áãáèþí , ìå ñõèìü ðåñßðïõ 7,25% , êáé áêïëïõèåß ï ôïìÝáò ôùí åíäéÜìåóùí áãáèþí , ìå ñõèìü ìüëéò ÷ áìçëüôåñï ôïõ 4 %.
The strongest growth for 1998 as a whole was observed in the capital goods industry , at around 7 ¼%, followed by the intermediate goods sector , at just below 4 %. Production of capital goods was higher in 1998 than in the preceding year , but showed signs of weakening towards the end of the year .
Ï ñõèìüò áýîçóçò ôçò ðáñáãùãÞò åíäéÜìåóùí áãáèþí Þôáí ÷ áìçëüôåñïò áðü ü , ôé ôï 1997 êáé ç ðáñáãùãÞ öÜíçêå íá äéáìïñöþíåôáé óôï õøçëüôåñï åðßðåäï ôïõò ðñþôïõò ìÞíåò ôïõ Ýôïõò .
The increase in intermediate goods production was lower than in 1997 , and production appeared to peak in the first few months of the year .
Ç ðáñáãùãÞ ôùí êáôáíáëùôéêþí áãáèþí åðßóçò áõîÞèçêå , êáôÜ 3,5% ðåñßðïõ óôï óýíïëï ôïõ Ýôïõò , áëëÜ õðÞñîáí óçìáíôéêÝò äéáöïñïðïéÞóåéò ìåôáîý ôùí äýï ôïìÝùí , äçë .
Production of consumer goods also rose , by around 3 % for the year as a whole , but within this category there was a significant difference between the durable and non-durable goods sectors .
Óôïí ðñþôï ôïìÝá ç ðáñáãùãÞ áõîÞèçêå êáôÜ 6,5% êáé ðëÝïí , ìåôÜ áðü áñêåôÜ ÷ ñüíéá ðéï õðïôïíéêÞò äñáóôçñéüôçôáò .
Production in the former increased by over 6 ½% in 1998 , following several years of more subdued activity .
Ç áýîçóç ôçò ðáñáãùãÞò óôïí ôïìÝá ôùí ìç äéáñêþí áãáèþí üìùò Þôáí ðïëý ðéï ðåñéïñéóìÝíç ôï 1998 êáé åðéôá ÷ ýíèçêå ìüíï êáôÜ 1,25% óõíïëéêÜ , åíþ åêôéìÜôáé üôé ï åôÞóéïò ñõèìüò áíüäïõ ôçò ðáñáãùãÞò Ýãéíå åëáöñþò áñíçôéêüò ôï ôÝôáñôï ôñßìçíï .
The rise in output in the non-durable goods sector , however , was much more limited in 1998 , rising by only 1 ½% overall , and annual growth is estimated to have turned slightly negative in the fourth quarter .
ÄéÜãñáììá 4
Chart 4 Confidence indicators for the euro area ( percentage balances ;
Óçìåßùóç : Ôá óôïé ÷ åßá ðïõ åìöáíßæïíôáé Ý ÷ ïõí õðïëïãéóôåß ùò áðïêëßóåéò áðü ôï ìÝóï üñï ãéá ôçí ðåñßïäï áðü ôïí ÉáíïõÜñéï 1989 .
Note : Data shown are calculated as deviations from the average over the period since January 1989 .
Ï ó ÷ åôéêüò äåßêôçò , áöïý êïñõöþèçêå ôçí Üíïéîç êáé ðëçóßáóå ôá åðßðåäá üðïõ åß ÷ å öèÜóåé óôá ôÝëç ôçò äåêáåôßáò ôïõ 1980 êáé ôï 1994 , óôï õðüëïéðï ôïõ Ýôïõò ìåéþèçêå óôáäéáêÜ êáé äéáìïñöþèçêå óå åðßðåäï åëáöñþò ÷ áìçëüôåñï áðü ôï ìáêñï ÷ ñüíéï ìÝóï üñï ôïõ .
achieved in the late 1980s and in 1994 , there was a progressive decline during the remainder of the year which left the indicator slightly below its long-term average .
Åíäåßîåéò ãéá åîáóèÝíçóç ôçò ìåôáðïéçôéêÞò äñáóôçñéüôçôáò ðñïêýðôïõí êáé áðü ôéò åêôéìÞóåéò ãéá ôï âáèìü ÷ ñçóéìïðïßçóçò ôïõ åñãïóôáóéáêïý äõíáìéêïý , ï ïðïßïò ìåéþèçêå êáé ðÜëé ðñïò ôï ôÝëïò ôïõ Ýôïõò óå åðßðåäï ÷ áìçëüôåñï ôïõ 82,5% óôï ôÝôáñôï ôñßìçíï , åíþ ðáñÝìåéíå õøçëüôåñïò áðü ôï ìÝóï üñï ôçò ðåñéüäïõ áðü ôï 1985 êáé åîÞò .
A further signal of weaker manufacturing activity was recorded by estimates of capacity utilisation , which fell back towards the end of the year , to below 82 ½% in the fourth quarter , while remaining above its average over the period since 1985 .
¼ óïí áöïñÜ ôïí ôïìÝá ôùí êáôáóêåõþí , óôéò áñ ÷ Ýò ôïõ 1998 õðÞñîáí ïñéóìÝíåò èåôéêÝò åíäåßîåéò .
There were some positive indications regarding the construction sector in early 1998 .
29 óôá ôÝëç ôçò äåêáåôßáò ôïõ 1980 êáé óôéò áñ ÷ Ýò ôçò äåêáåôßáò ôïõ 1990 óå ïñéóìÝíåò ÷ þñåò êáé ôçí åðÜíïäï ôçò êáôáóêåõáóôéêÞò äñáóôçñéüôçôáò óå öõóéïëïãéêÜ åðßðåäá óôç Ãåñìáíßá ìåôÜ áðü Ýíôïíç åðåíäõôéêÞ äñáóôçñéüôçôá óôï áíáôïëéêü ôìÞìá ôçò ÷ þñáò ìåôÜ ôçí åðáíÝíùóç .
This followed several years of prolonged weakness associated with a widespread problem of excess supply generated in the late 1980s and early 1990s in some countries and a normalisation of construction activity in Germany after high investment in the eastern part of the country following unification .
Ç êáôáóêåõáóôéêÞ äñáóôçñéüôçôá Þôáí éäéáßôåñá Ýíôïíç ôï ðñþôï ôñßìçíï ôïõ Ýôïõò , ÷ Üñç êáé óôéò êáéñéêÝò óõíèÞêåò ðïõ Þôáí çðéüôåñåò áðü ü , ôé åßíáé óõíÞèùò óôéò áñ ÷ Ýò ôïõ Ýôïõò ( óå áíôßèåóç ìå ôïí áóõíÞèéóôá âáñý ÷ åéìþíá ôçí ßäéá ðåñßïäï ôïõ 1997 ) , áëëÜ ï ñõèìüò ôçò åðéâñáäýíèçêå óôï äåýôåñï åîÜìçíï ôïõ 1998 êáé åêôéìÜôáé üôé ìåéþèçêå êáôÜ 1 % ðåñßðïõ ãéá ôï óýíïëï ôïõ Ýôïõò .
Construction activity was particularly strong in the first quarter of the year , also supported by milder weather than is normally experienced at the start of the year ( and which contrasted markedly with the exceptionally cold weather in the same period in 1997 ) , but it lost pace in the second half of 1998 and is estimated to have declined by around 1 % for the year as a whole .
ÓõíïëéêÜ , ôï 1998 ÷ áñáêôçñßóôçêå áðü ôéò áñíçôéêÝò åðéðôþóåéò ðïõ åß ÷ áí ïé ðáãêüóìéåò åîåëßîåéò ãéá ôéò êáèáñÝò åîáãùãÝò êáé ôç äñáóôçñéüôçôá ôïõ ìåôáðïéçôéêïý ôïìÝá , åíþ ç åã ÷ þñéá æÞôçóç ðáñÝìåéíå åí ðïëëïßò áíåðçñÝáóôç .
Overall , 1998 was characterised by a negative impact of global developments on net exports and manufacturing activity , while domestic demand by and large remained unaffected .
Óå êÜðïéï âáèìü , ç ìåôáîý ôïõò áðüêëéóç ôï 1998 ìðïñåß ßóùò íá áðïäïèåß óôéò óõíÝðåéåò ðïõ åß ÷ å ãéá ôéò åðé ÷ åéñçìáôéêÝò ðñïóäïêßåò ç åðéäåßíùóç ôïõ åîùôåñéêïý ðåñéâÜëëïíôïò , åöüóïí ìåãÜëï ðïóïóôü ôçò âéïìç ÷ áíéêÞò ðáñáãùãÞò ðñïïñßæåôáé ãéá åîáãùãÞ .
To some extent , the divergence in 1998 could perhaps be explained by the effect on industrial confidence of the deterioration in
Ó ÷ åôéêÜ óçìåéþíåôáé áöåíüò üôé ç âéïìç ÷ áíéêÞ äñáóôçñéüôçôá áíôéðñïóùðåýåé ëéãüôåñï áðü ôï 1/3 ôïõ óõíïëéêïý ÁÅÐ ôçò æþíçò ôïõ åõñþ , êáé óõíåðþò ôõ ÷ üí åðéâñÜäõíóç óôïí ôïìÝá
percentage change from the same period a year ago ( left-hand scale ) percentage change against the previous period ( left-hand scale ) total employment level : index 1995 = 100 ( right-hand scale )
ÁöåôÝñïõ üìùò , ç ðáñáôåôáìÝíç õðïôïíéêüôçôá ôçò âéïìç ÷ áíéêÞò äñáóôçñéüôçôáò èá ìðïñïýóå ôåëéêÜ íá Ý ÷ åé äõóìåíåßò óõíÝðåéåò ãéá ôçí åìðéóôïóýíç ôùí êáôáíáëùôþí , åÜí ôåèïýí õðü áìöéóâÞôçóç ïé ðñïïðôéêÝò ãéá óõíå ÷ Þ Üíïäï ôçò áðáó ÷ üëçóçò êáé ôùí åéóïäçìÜôùí . Åíßó ÷ õóç ôçò áýîçóçò ôçò áðáó ÷ üëçóçò Ç áíÜêáìøç ôçò áðáó ÷ üëçóçò ðïõ Üñ ÷ éóå ôçí Üíïéîç ôïõ 1997 åðéôá ÷ ýíèçêå óå üëç ôç äéÜñêåéá ôïõ 1998 ( âë .
the external environment , as a sizable percentage of industrial production is destined for export . By contrast , domestic economic conditions remained positive and net employment creation and real income growth were among the factors supporting consumer confidence .
Áíôßèåôá ìå ôç óôáóéìüôçôá ðïõ óçìåéþèçêå ôá Ýôç ðïõ åðáêïëïýèçóáí áìÝóùò ìåôÜ ôçí êáèïäéêÞ öÜóç ôïõ ïéêïíïìéêïý êýêëïõ ôï 1993 , ç áðáó ÷ üëçóç áõîÞèçêå êáôÜ 1 % êáé ðëÝïí ôï 1998 .
The services sector appears to have been influenced predominantly by domestic factors which have been more supportive of growth .
Óôç äéÜñêåéá ôùí ôñéþí ðñþôùí ôñéìÞíùí ôïõ 1998 äçìéïõñãÞèçêáí ðåñéóóüôåñåò èÝóåéò åñãáóßáò óôç æþíç ôïõ åõñþ áðü ü , ôé åß ÷ áí äçìéïõñãçèåß óôï äéÜóôçìá áðü ôéò áñ ÷ Ýò ôïõ 1994 , ïðüôå ç áðáó ÷ üëçóç åß ÷ å öèÜóåé óôï êáôþôáôï åðßðåäü ôçò , ìÝ ÷ ñé ôï ôÝëïò ôïõ 1997 . Ç ðñüóöáôç åðéâñÜäõíóç ôçò ïéêïíïìéêÞò äñáóôçñéüôçôáò öáßíåôáé íá åðçñÝáóå êÜðùò ôçí Üíïäï ôçò áðáó ÷ üëçóçò óôç æþíç ôïõ åõñþ óôïõò ôïìåßò ôçò ïéêïíïìßáò ðïõ åßíáé åêôåèåéìÝíïé óôï äéåèíÞ áíôáãùíéóìü .
On the other hand , however , persistent weakness in industrial activity could eventually have a negative effect on consumer confidence , if the prospect of continued increases in employment and income were to be called into question . of the first three quarters of 1998 more jobs were created in the euro area than had been created between early 1994 -- when employment had levelled out -- and the end of 1997 .
Óôç ìåôáðïßçóç , ç êáèáñÞ äçìéïõñãßá èÝóåùí åñãáóßáò áðü ôñßìçíï óå ôñßìçíï áõîÞèçêå ìå éäéáßôåñá õøçëü ñõèìü ôï ðñþôï åîÜìçíï ôïõ 1998 , áëëÜ åðéâñáäýíèçêå óçìáíôéêÜ ôï ôñßôï ôñßìçíï . Êáèþò ç óõíïëéêÞ Üíïäïò ôçò áðáó ÷ üëçóçò äåí ðáñïõóßáóå åðéâñÜäõíóç ôçí ßäéá ðåñßïäï , ç áýîçóç ôçò áðáó ÷ üëçóçò óôïõò ëïéðïýò ôïìåßò ôçò ïéêïíïìßáò öáßíåôáé
The recent slowdown in activity appears to have had some influence on employment growth in the exposed sectors of the euro area economy . In manufacturing , quarter-onquarter net job creation was particularly strong in the first half of 1998 , but decelerated significantly in the third quarter .
ÓõíïëéêÞ áðáó ÷ üëçóç óôç æþíç ôïõ åõñþ ( ôñéìçíéáßá óôïé ÷ åßá , åðï ÷ éêÜ äéïñèùìÝíá ) åêáôïóôéáßá ìåôáâïëÞ Ýíáíôé ôçò ßäéáò ðåñéüäïõ ôïõ ðñïçãïýìåíïõ Ýôïõò ( áñéóôåñÞ êëßìáêá ) åêáôïóôéáßá ìåôáâïëÞ Ýíáíôé ôçò ðñïçãïýìåíçò ðåñéüäïõ ( áñéóôåñÞ êëßìáêá ) åðßðåäï óõíïëéêÞò áðáó ÷ üëçóçò , Ýôïò âÜóåùò 1995 = 100 ( äåîéÜ êëßìáêá )
As total employment growth did not show a slowdown over the same period , employment growth in the rest of the economy appears to have accelerated slightly . This mainly reflects performance in the sectors less exposed to external developments , notably the services sector and the public sector .
ÓôáäéáêÞ ìåßùóç ôçò áíåñãßáò Ç åíßó ÷ õóç ôçò êáèáñÞò äçìéïõñãßáò èÝóåùí åñãáóßáò åß ÷ å ùò áðïôÝëåóìá ôç óõíå ÷ Þ ìåßùóç ôïõ ðïóïóôïý áíåñãßáò óôç æþíç ôïõ åõñþ  áí êáé ìå ðïëý óôáäéáêü ñõèìü  áðü ôïí Ïêôþâñéï ôïõ 1997 êáé ìåôÜ ( âë . Ðßíáêá 4 ) .
Gradual decline in unemployment As a result of the strengthening of net job creation , the unemployment rate in the euro area has been declining continuously -- albeit at a very gradual pace -- since October 1997 ( see Table 4 ) .
¸ ôóé , ôï ðïóïóôü áíåñãßáò âÜóåé ôõðïðïéçìÝíïõ ïñéóìïý , üðùò åêôéìÜôáé áðü ôç Eurostat , ìåéþèçêå áðü 11,7% , ôï áíþôáôï åðßðåäï ôïõ 1997 , óå 10,7% ôï ÄåêÝìâñéï 1998 .
As a result , the standardised rate of unemployment , as estimated by Eurostat , decreased from 11.7% , the peak level in 1997 , to 10.7% in December 1998 .
Ôïí ÉáíïõÜñéï 1999
In
ÅôÞóéåò ìåôáâïëÝò 1996 1997 1998 1997 1998 1998 1998 1998 1997 1998 1998 1998 1998 Ä ´ ôñ .
1996 1997 1998 1997 1998 1998 1998 1998 1997 Q4 Q1 Q2 Q3 Q4 Q4 Level ( in millions ) Rates (% of labour force ) Total Under 25 years 25 years and over 14.8 11.6 23.9 9.8 14.9 11.6 23.2 10.0 14.2 10.9 21.4 9.5 14.8 11.5 22.6 9.9 14.5 11.2 21.9 9.7 14.3 11.0 21.6 9.5 14.1 10.9 21.1 9.4 13.8 10.7 20.9 9.3 0.0 0.0 - 0.9 0.3
) ÐïóïóôÜ Óýíïëï ÊÜôù ôùí 25 åôþí 25 åôþí êáé Üíù 14,8 11,6 23,9 9,8 14,9 11,6 23,2 10,0 14,2 10,9 21,4 9,5 14,8 11,5 22,6 9,9 14,5 11,2 21,9 9,7 14,3 11,0 21,6 9,5 14,1 10,9 21,1 9,4 13,8 10,7 20,9 9,3 0,0 0,0 - 0,9 0,3 - 0,4 - 0,1 - 1,4 0,2 - 0,7 - 0,3 - 1,6 0,0 - 0,9 - 0,5 - 2,1 - 0,2 - 1,0 - 0,8 - 2,5 - 0,4
1998 1998 1998 1998 Q1 Q2 Q3 Q4 - 0.4 - 0.1 - 1.4 0.2 - 0.7 - 0.3 - 1.6 0.0 - 0.9 - 0.5 - 2.1 - 0.2 - 1.0 - 0.8 - 2.5 - 0.4
óçìåéþèçêå êáé íÝá åëáöñÜ ìåßùóç ôçò óõíïëéêÞò áíåñãßáò ôçò æþíçò ôïõ åõñþ , óå 10,6% .
January 1999 there was a further slight decline in area-wide unemployment , to 10.6% .
Ç ìåßùóç ôïõ ðïóïóôïý áíåñãßáò ôçò æþíçò ôïõ åõñþ öáßíåôáé íá Þôáí éäéáßôåñá óõãêñáôçìÝíç , äåäïìÝíïõ üôé ôï 1998 ç áýîçóç ôçò áðáó ÷ üëçóçò õðåñÝâç ôç äõíçôéêÞ ôÜóç áíüäïõ ôïõ åñãáôéêïý äõíáìéêïý .
The decline in the euro area unemployment rate appears to have been particularly moderate in view of the fact that in 1998 the increase in employment has exceeded the trend growth of the labour force .
Ç âåëôßùóç ôçò êáôÜóôáóçò óôçí áãïñÜ åñãáóßáò Þôáí åðßóçò öáíåñÞ êáé ìå âÜóç ôï áðüëõôï ìÝãåèïò ôçò áíåñãßáò , äåäïìÝíïõ üôé ï áñéèìüò ôùí áíÝñãùí ìåéþèçêå , óýìöùíá ìå ôç Eurostat , êáôÜ 950.000 Üôïìá êáé ðëÝïí óôï äùäåêÜìçíï áðü ôï ÄåêÝìâñéï 1997 ìÝ ÷ ñé ôï ÄåêÝìâñéï 1998 , äçë .
The improvement in the labour market situation was also noticeable in the absolute level of unemployment , as the number of jobless fell ( according to Eurostat ) by more than 950,000 in the year to December 1998 , which constitutes a decrease of 6 ½%.
êáôÜ ðïóïóôü 6,5% . Ç âåëôßùóç áõôÞ óçìåéþèçêå óå üëåò ó ÷ åäüí ôéò ÷ þñåò ôçò æþíçò ôïõ åõñþ , óõìðåñéëáìâáíïìÝíùí êáé áõôþí ðïõ åß ÷ áí Þäç åðéôý ÷ åé ÷ áìçëÞ áíåñãßá .
This improvement was observed in almost all the euro area countries , including those in which unemployment had already reached a low level . The decline in unemployment was twice
Ç ìåßùóç ôçò áíåñãßáò Þôáí äéðëÜóéá ìåôáîý ôùí íÝùí áðü ü , ôé ÄéÜãñáììá 6
Chart 6 Unemployment in the euro area ( monthly data ;
ìåôáîý ôùí áôüìùí Üíù ôùí 25 åôþí .
as high for young people as for those over 25 years of age .
Ùóôüóï , ôï ðïóïóôü ôùí áíÝñãùí ìå çëéêßá êÜôù ôùí 25 åôþí ðáñÝìåéíå äéðëÜóéï åêåßíïõ ôùí áôüìùí Üíù ôùí 25 åôþí óôï ôÝëïò ôïõ 1998 .
However , the rate of youth unemployment was still double the rate for the over-25s at the end of 1998 .
Ðë áßóéï 1 ë
Box 1
Óôç äéÜñêåéá ôïõ 1998 ï áñéèìüò ôùí áíÝñãùí óôç æþíç ôïõ åõñþ ìåéþèçêå ó ÷ åäüí êáôÜ Ýíá åêáôïììýñéï , êáé ôï ðïóïóôü ôçò áíåñãßáò ðåñéïñßóôçêå áðü 11,5% óôï ôÝëïò ôïõ 1997 óå 10,7% ôï ÄåêÝìâñéï ôïõ 1998 .
In the course of 1998 euro area unemployment fell by almost one million , from a rate of 11.5% at the end of 1997 to 10.7% in December 1998 .
Ùóôüóï , ðáñÜ ôç ìåßùóç áõôÞ , ç áíåñãßá ðáñáìÝíåé áðáñÜäåêôá õøçëÞ êáé áíÝñ ÷ åôáé ó ÷ åäüí óå 14 åêáôïììýñéá .
However , despite this decline , unemployment remains unacceptably high at almost 14 million .
Ôá ôåëåõôáßá ÷ ñüíéá Ý ÷ ïõí ãßíåé åêôåíåßò áíáëýóåéò , ôüóï óå åèíéêü üóï êáé äéåèíÝò åðßðåäï , êáèþò êáé óõãêñßóåéò ìå ôçí åìðåéñßá Üëëùí ÷ ùñþí , üðùò ïé ÇÐÁ , üðïõ ç áíåñãßá åßíáé óçìáíôéêÜ ÷ áìçëüôåñç áðü ü , ôé óôç æþíç ôïõ åõñþ . 32
Extensive analysis has been carried out in recent years , at both the national and the international level . Comparisons have also been drawn with the experience of other countries , such as the United States , whose record in terms of unemployment has been significantly better than that of the euro area .
Ïé äéÜöïñïé ìç ÷ áíéóìïß ôçò áãïñÜò , õðïóôçñéæüìåíïé áðü ôç äéáñèñùôéêÞ ìåôáññýèìéóç , ðéèáíüôáôá èá åßíáé óôï ìÝãéóôï âáèìü áðïôåëåóìáôéêïß üôáí ôá ìçíýìáôá ðïõ åêðÝìðïõí ïé ó ÷ åôéêïß ÅôÞóéá ¸ êèåóç ÅÊÔ -* 1998
The various market mechanisms , supported by structural reform , can be expected to be most effective when the signals sent by the relative price mechanism are not distorted or obscured by changes in the general price level .
2.3 ÄçìïóéïíïìéêÝò åîåë ßîåéò ë ÅðéâñÜäõíóç ôçò ïéêïíïìéêÞò åîõãßáíóçò Ç äçìïóéïíïìéêÞ êáôÜóôáóç ôùí êñáôþíìåëþí óçìåßùóå ðåñáéôÝñù âåëôßùóç ôï 1998 , ìïëïíüôé ìå ìÜëëïí âñáäý ñõèìü , ìå áðïôÝëåóìá ïé ðñïûðïëïãéóìïß íá åîáêïëïõèïýí íá åìöáíßæïõí óçìáíôéêÝò áíéóïññïðßåò êáôÜ ìÝóï üñï óôç æþíç ôïõ åõñþ .
2.3 Fiscal developments Slowdown in fiscal consolidation Government budgetary positions improved further in 1998 , albeit at a rather slow pace , leaving budgets highly imbalanced on average in the euro area .
Óýìöùíá ìå ôá ôåëåõôáßá äéáèÝóéìá óôïé ÷ åßá ôçò Eurostat , o ìÝóïò ëüãïò åëëåßììáôïò / ÁÅÐ óôç æþíç ôïõ åõñþ äéáìïñöþèçêå óå 2,1% , Ýíáíôé 2,5% ôï 1997 ( âë . Ðßíáêá 5 ) .
According to the latest available data provided by Eurostat , the average deficit-to-GDP ratio in the euro area stood at 2.1% , compared with 2.5% in 1997 ( see Table 5 ) .
Ï ðåñéïñéóìüò áõôüò ôïõ åëëåßììáôïò ùò ðïóïóôïý ôïõ ÁÅÐ óõãêñßíåôáé ìå óùñåõôéêÞ ìåßùóç 2,3 åêáôïóôéáßùí ìïíÜäùí ôï 199697 .
This decline in the deficit ratio compares with a cumulative decline of 2.3 percentage points in 1996 and 1997 .
ÐÝíôå ÷ þñåò åß ÷ áí Ýëëåéììá Üíù ôïõ 2 % ôïõ ÁÅÐ ôï 1998 . Óôç Ãáëëßá êáé ôçí Éôáëßá ï ëüãïò åëëåßììáôïò / ÁÅÐ Þôáí Üíù ôïõ 2,5% , åíþ óôç
Five countries had deficit ratios of above 2 % in 1998 ;
ÅôÞóéá ¸ êèåóç ÅÊÔ -* 1998 Ãåñìáíßá , ôçí Áõóôñßá êáé ôçí Ðïñôïãáëßá ìåôáîý 2 % êáé 2,5% .
the ratio in France and Italy being above 2.5% and in Germany , Austria and Portugal between 2 % and 2.5% .
Áðü ôéò õðüëïéðåò ÷ þñåò , ôï ÂÝëãéï êáé ç Éóðáíßá óçìåßùóáí Ýëëåéììá ìåôáîý 1 % êáé 2 % ôïõ ÁÅÐ , ç Ïëëáíäßá ìüëéò êÜôù ôïõ 1 %, åíþ ç Éñëáíäßá , ôï Ëïõîåìâïýñãï êáé ç Öéëáíäßá åß ÷ áí ðëåüíáóìá .
of between 1 % and 2 % of GDP , while the deficit ratio of the Netherlands was just below 1 %. Ireland , Luxembourg and Finland had budgetary surpluses .
Ôç ìåãáëýôåñç âåëôßùóç óôïí ôïìÝá ôçò äçìïóéïíïìéêÞò êáôÜóôáóçò ôï 1998 åß ÷ áí ç Éñëáíäßá êáé ç Öéëáíäßá , üðïõ ôï áðïôÝëåóìá ôïõ êñáôéêïý ðñïýðïëïãéóìïý âåëôéþèçêå êáôÜ 1 åêáôïóôéáßá ìïíÜäá ôïõ ÁÅÐ êáé ðëÝïí .
The greatest improvement in budgetary positions in 1998 was observed in Ireland and Finland , where government balances were improved by more than 1 percentage point of GDP .
Óôï ÂÝëãéï , ôç Ãåñìáíßá êáé ôçí Éóðáíßá ôï Ýëëåéììá ìåéþèçêå êáôÜ 0,5 - 1 åêáôïóôéáßá ìïíÜäá ôïõ ÁÅÐ , åíþ ïñéáêÜ ìüíï ( êáôÜ 0,1 êáé 0,2 ôçò åêáôïóôéáßáò ìïíÜäáò ) ìåéþèçêå ôï Ýëëåéììá ùò ðïóïóôü ôïõ ÁÅÐ óôç Ãáëëßá êáé ôçí Ðïñôïãáëßá .
In Belgium , Germany and Spain deficits declined by between 0.5 and 1 percentage point , while only marginally declining deficit ratios ( by 0.1 or 0.2 percentage point ) were recorded in France and Portugal .
Óôçí Áõóôñßá ôï Ýëëåéììá áõîÞèçêå ùò ðïóïóôü ôïõ ÁÅÐ ôï 1998 , åíþ óôï Ëïõîåìâïýñãï ôï ðëåüíáóìá ìåéþèçêå .
In Austria the deficitto-GDP ratio increased in 1998 , and in Luxembourg the budgetary surplus declined .
Ï ìÝóïò ëüãïò ÷ ñÝïõò ìåéþèçêå êáôÜ 0,8 ôçò åêáôïóôéáßáò ìïíÜäáò ôï 1998 óå 73,8% , áöïý ìåéþèçêå ïñéáêÜ ôï 1997 ãéá ðñþôç öïñÜ ìåôÜ ôï 1991 , Ýôïò êáôÜ ôï ïðïßï
The average debt ratio declined by 0.8 percentage point in 1998 to 73.8% , after having fallen marginally in 1997 for the first time since 1991 , i.e. since comparable data for the euro area have been available .
Ðßíáêáò 5
However , savings in interest spending were used by Table 5
Ðëåüíáóìá (+) Þ Ýëëåéììá (-) ãåíéêÞò êõâÝñíçóçò 1995 Æþíç åõñþ ÂÝëãéï Ãåñìáíßá Éóðáíßá Ãáëëßá Éñëáíäßá Éôáëßá Ëïõîåìâïýñãï Ïëëáíäßá Áõóôñßá Ðïñôïãáëßá Öéëáíäßá - 4,8 - 4,0 - 3,3 - 7,1 - 4,9 - 2,1 - 7,7 + 1,8 - 4,0 - 5,1 - 5,7 - 4,6 1996 - 4,1 - 3,1 - 3,4 - 4,5 - 4,1 - 0,3 - 6,6 + 2,8 - 2,0 - 3,7 - 3,3 - 3,1 1997 - 2,5 - 1,9 - 2,7 - 2,6 - 3,0 + 1,1 - 2,7 + 2,9 - 0,9 - 1,9 - 2,5 - 1,2 1998 1 ) - 2,1 - 1,3 - 2,1 - 1,8 - 2,9 + 2,3 - 2,7 + 2,1 - 0,9 - 2,1 - 2,3 + 1,0
General government surplus (+) or deficit (-) 1995 Euro area Belgium Germany Spain France Ireland Italy Luxembourg Netherlands Austria Portugal Finland - 4.8 - 4.0 - 3.3 - 7.1 - 4.9 - 2.1 - 7.7 + 1.8 - 4.0 - 5.1 - 5.7 - 4.6 1996 - 4.1 - 3.1 - 3.4 - 4.5 - 4.1 - 0.3 - 6.6 + 2.8 - 2.0 - 3.7 - 3.3 - 3.1 1997 - 2.5 - 1.9 - 2.7 - 2.6 - 3.0 + 1.1 - 2.7 + 2.9 - 0.9 - 1.9 - 2.5 - 1.2 1998 1 ) - 2.1 - 1.3 - 2.1 - 1.8 - 2.9 + 2.3 - 2.7 + 2.1 - 0.9 - 2.1 - 2.3 + 1.0
Ôá ìåãÝèç ôçò æþíçò ãéá ôï Ýëëåéììá êáé ôï ÁÅÐ Ý ÷ ïõí ìåôáôñáðåß óå ECU âÜóåé ôùí ìÝóùí åôÞóéùí óõíáëëáãìáôéêþí éóïôéìéþí .
Note : Euro area aggregates for deficit and GDP are converted into ECU at yearly average exchange rates .
1 ) ÅêôéìÞóåéò .
1 ) Estimation .