eurostatistics data for short-term economic...

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

ISSN 1831-3221

Eurostatistics Data for short-term economic analysisIssue number 02/2016

2016 edition

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Luxembourg: Publications Office of the European Union, 2016

ISSN 1831-3221Cat. No KS-BJ-16-002-EN-N Theme: General and regional statisticsCollection: Statistical books

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3 Eurostatistics — 02/2016 edition

Table of contents

Section 1 Summary analysis .........................................................................................................................................4

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

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

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

Cyclical indicators for the euro area ...............................................................................................................................9

Latest cyclical estimates for the euro area and the EU .........................................................................................12

Methodological notes ................... ...................................................................................................................................15

Section 2 Principal European Economic Indicators (PEEIs) .........................................................................17

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

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

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

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

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

Summary analysisSection I


Summary analysis 1International context: GDP growth slowed in the US and China in Q4 2015

The advance estimate of the US quarterly GDP growth in Q4 2015 was 0.2%, declining from 0.5% in Q3 and from 1.0% in Q2. In Q4 2015 there was a decline in the growth rates of personal consumption expenditures, non-residential fixed investment, exports and state and local government expenditure, partially compensated by a decrease in imports and an acceleration in federal government spending. The US annual GDP growth rate declined to 1.8% in Q4 2015, down from 2.1% in Q3 and 2.7% in Q2. Regarding the BRICS countries (Brazil, Russia, India, China and South Africa), the economy continued to decelerate in China with a quarterly GDP growth rate of 1.6% in Q4 2015 after 1.8% in Q3. The annual GDP growth rate was 6.8% in Q4 2015 slightly declining from 6.9% in Q3. The slowdown in GDP growth was partially driven by slowing growth in manufacturing and in 2015 China continued its transition to a more consumption-oriented economy. The other BRICS countries will release later their GDP growth rates for Q4 2015. But in Q3 2015, Brazil reported a contraction of 1.7% of its quarterly GDP growth rate, following an earlier contraction of 2.1% in Q2. The annual GDP growth rate declined to -4.4% in Q3 2015 after -2.9% in Q2. The economy also slightly contracted by 0.6% in Russia in Q3 2015 following a more important contraction of 1.3% in Q2. Annual GDP remained negative at -3.7% in Q3 2015, after -3.8% in Q2. The economy expanded in India and in South Africa in Q3 2015 with quarterly GDP growth rates of 1.9% and 0.2% respectively. The annual GDP growth rate in Q3 2015 was respectively 7.1% in India and 1.2% in South Africa.

European Union and euro area: Drop of the economic sentiment indicator in Janu-ary 2016

The economic sentiment indicator (ESI) decreased significantly in January 2016 in both the euro area (by 1.7 points to 105.0) and the EU (by 1.8 points to 106.7). The euro area decline was due to a deterioration of confidence in all business sectors except in retail trade, which remained stable. The fall in the EU was led by a deterioration of confidence in the services sector (-4.0), in industry (-0.4) and among consumers (-0.3%). The Q4 2015 GDP growth rates for the euro area and the EU will be released on 12th February 2016. In Q3 2015, EU GDP slightly decelerated with a quarterly growth rate of 0.4% following 0.5% in Q2. The annual GDP growth rate remained constant at 1.9% in Q3 2015 compared to Q2. Euro area GDP also slightly slowed in Q3 2015 with a growth rate of 0.3% in Q3 2015 after 0.4% in Q2. The annual GDP growth rate remained stable at 1.6% in Q3 2015 compared to Q2. The flash estimate of the annual inflation rate in January 2016 for the euro area rose to 0.4% from 0.2% in December 2015. In January 2016 the annual inflation rate for energy was -5.3% in the euro area while services showed the highest positive annual rate at 1.2%.

Situation in the Member states: ESI in decline in Germany, in Italy, in the UK and in Spain

In January 2016, among the largest EU economies, the ESI declined in Germany (-2.1), Spain (-4.1), in Italy (-1.7) and in the UK (-3.5) while increasing in France (+1.1). The UK declared another solid GDP growth rate of 0.5% in Q4 2015, after 0.4% in Q3 and 0.5% in Q2. Annual GDP growth nevertheless declined to 1.9% in Q4 2015, from 2.1% in Q3. The economy also expanded in France in Q4 2015 with a GDP growth rate of 0.2%, slightly down from the 0.3% reported in Q3. The annual GDP growth rate increased to 1.3% in Q4 2015, up from 1.1% in Q3. Belgium declared a GDP growth rate of 0.3% in Q4 2015 after 0.2% in Q3. Q4 2015 was the 11th quarter of expansion in a row for the Belgium economy. The annual GDP growth rate was 1.3% in Q4 2015, stable compared to Q3. Lithuania presented another sound GDP growth rate of 0.5% in Q4 2015 after 0.4% in Q3 and 0.5% in Q2. The annual GDP growth rate accelerated to 2.1% in Q4 2015, up from 1.8% in Q3. Austria declared a GDP growth rate nil (0.0%) in Q4 2015, the same as in Q3. The annual GDP growth rate grew to 1.1% in Q4 2015 after 0.9% in Q3.

Most of the other EU Member States will release their Q4 2015 GDP growth rates on 12th February 2016.

Editorial


1 Summary analysis

Latest macroeconomic

developmentsEvolution of GDP

Industrial production

Inflation

Unemployment

Interest rates

Exchange rates

Construction production

Retail trade

Steady growth of the euro area economy

Seasonally and working day adjusted GDP rose by 0.3% in the euro area (EA19) and by 0.4% in the EU28 during the third quarter of 2015, compared with the previous quarter, according to a second estimate published by Eurostat. In the second quarter of 2015, GDP grew by 0.4% and 0.5% respectively. Compared with the same quarter of the previous year, non seasonally adjusted GDP rose by 1.6% in the euro area and by 1.9% in the EU28 in the third quarter of 2015.

In November 2015 compared with October 2015, seasonally and working day adjusted industrial production fell by 0.7% in the euro area (EA19) and by 0.6% in the EU28, according to estimates from Eurostat. In October 2015 industrial production rose by 0.8% and 0.6% respectively. In November 2015 compared with November 2014, industrial production increased by 1.1% in the euro area and by 1.4% in the EU28.

In November 2015 compared with October 2015, seasonally and working day adjusted production in the construction sector increased by 0.8% in the euro area (EA19) and by 0.7% in the EU28, according to first estimates from Eurostat. In October 2015, production in construction grew by 0.6% in the euro area and by 0.2% in the EU28. In November 2015 compared with November 2014, production in construction grew by 2.1% in the euro area and by 1.9% in the EU28.

In December 2015 compared with November 2015, the seasonally and working day adjusted volume of retail trade increased by 0.3% in the euro area (EA19) and by 0.1% in the EU28, according to estimates from Eurostat. In November retail trade remained stable in the euro area and rose by 0.3% in the EU28. In December 2015 compared with December 2014 the calendar adjusted retail sales index increased by 1.4% in the euro area and by 2.0% in the EU28.

Euro area annual inflation is expected to be 0.4% in January 2016, up from 0.2% in December 2015, , up from 0.1% in November, according to a flash estimate from Eurostat. European Union annual inflation was 0.2% in December 2015, up from 0.1% in November. A year earlier the rate was -0.1%. These figures come from Eurostat.

The euro area (EA19) seasonally-adjusted unemployment rate was 10.4% in December 2015, down from 10.5% in November 2015, and from 11.4% in December 2014. This is the lowest rate recorded in the euro area since September 2011. The EU28 unemployment rate was 9.0% in December 2015, stable compared to November 2015, and down from 9.9% in December 2014. This is the lowest rate recorded in the EU28 since June 2009. These figures are published by Eurostat. Eurostat estimates that 21.944 million men and women in the EU28, of whom 16.750 million were in the euro area, were unemployed in December 2015. Compared with November 2015, the number of persons unemployed decreased by 52 000 in the EU28 and by 49 000 in the euro area. Compared with December 2014, unemployment fell by 2.026 million in the EU28 and by 1.501 million in the euro area.

On 21 January 2016, The Governing Council of the European Central Bank decided to keep unchanged the interest rate on the main refinancing operations at 0.05%. ECB continues its efforts on the asset purchase program. On 16 December, 2015, the US Federal Reserve raised its rate to 0.5%. The Bank of Japan decided to lower its key official rate at -0.1%. The UK’s official bank rate has been unchanged at 0.5% since March 2009. The euro area’s 3-month rate, Euribor, decreased to -0.09% in November, after -0.05% in October and -0.04% in September 2015. Long-term interest rates (monthly average weighted 10-year government bond yield) of the euro area increased to 1.21% in December 2015, up from 1.17% in November. The EU28 long-term interest rates slightly increased to 1.47% in December from 1.43% in November.

The euro / US dollar exchange rate (monthly average) decreased slightly to USD 1.0860 in January 2016 from 1.0877 in December 2015 and 1.0736 in November. The euro decreased against the Japanese yen in January 2016 with an exchange rate of Yen 128.32 for one euro. The euro increased against the Swiss Franc at SF 1.0941 in January 2016. The euro / UK Pound Sterling exchange rate increased to GBP 0.75459 in January 2016 from 0.72595 in December 2015.


Summary analysis 1Growth forecasts for the euro area

Steady rather strong growth despite financial turmoil

The Eurogrowth Indicator is expected to remain rather strong in the fourth quarter of 2015 and in the first quarter of 2016 with a GDP growth at 0.6% and 0.5%, respectively. On a year-on-year basis, the growth rates is expected to accelerate to 1.9% and 1.8% respectively, up from the 1.6% of the third quarter published by Eurostat.

The main factors behind this acceleration in the first quarter are the strong contributions of the consumer and construction surveys along with an increase in customer spending which benefited of lower energy prices and rising employment. The contribution of the industry survey stalled and the positive impact of the strong devaluation of the euro against the dollar has faded.

The expected growth estimates continues to be rather strong despite the recent volatility in financial markets and the uncertainty of the Chinese growth prospects. It continues to benefit from expected alleviation of the ECB monetary policy.

The €-coin indicator rose to 0.48 in January from 0.45 in December, confirming the positive trend resumed in November 2015. Contributory factors included the reduction in market interest rates and signs of an improvement in foreign trade, after the downturn recorded during the summer, offset by the slide in share prices

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.


1 Summary analysis

Comparison of GDP growth forecasts for the euro area

Percentage change

Over previous quarter (q/q-1) Over previous year (q/q-4)

2015Q2 2015Q3 2015Q4 2016Q1 2015Q2 2015Q3 2015Q4 2016Q1

EUROSTAT release 0.4 0.3 : : 1.6 1.6 : :

EUROFRAME (*) 0.6 0.7 0.6 0.5 1.8 2.0 1.9 1.8

EuroCOIN 0.4 0.4 0.4 0.5 1.3 1.8 1.9 1.8

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

ESA 1995 series.

0.3

0.4

0.5

0.6

0.7

% change over previous quarter

0.0

0.1

0.2

GDP release Euroframe EuroCoin

1.01.21.41.61.82.02.22.4

% change over previous year

0.20.40.60.8

2014Q1 2014Q2 2014Q3 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2016Q1

GDP release Euroframe EuroCoin

Quarter-over-quarter GDP growth indicators (q/q-1) Year-over-year GDP growth indicators (q/q-4)


Summary analysis 1Cyclical indicators for the euro area

Business Climate Indicator decreases in January

The Business Climate Indicator (BCI) for the euro area decreased by 0.1 points in January to 0.29. All five underlying components of the BCI contributed to this decline. The worsening was slightly more marked for managers’ appraisal of stocks of finished products, total and export order books as well as managers’ production expectations than for their assessment of production trends observed in recent months.

The Composite leading indicators (CLIs) continue to signal a mixed outlook across major emerging economies and stable growth momentum in the OECD area. The CLIs for Brazil and China confirm the tentative signs of stabilisation flagged in last months’ assessment. In India, the CLI points to firming growth while a loss in growth momentum is anticipated in Russia. In the Euro area as a whole, and in Germany and Italy, CLIs signal stable growth momentum while in France the outlook is for firming growth. CLIs continue to point to easing growth in the United Kingdom and the United States with similar signals emerging in Canada and Japan.

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

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

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

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

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

The DZ BANK Euro-Indicator decreased by 0.3 points in January 2016 being at a level of 98.6 points from 98.9 in December. On year-to-year basis, its growth has declined accordingly passing from 2.5% in Decmber to 1.8% in January.

The IARC turning point indicator acted a trough in the growth cycle in May. In January, the indicator remains well over 80%, at 94%, after 91% in December, announcing the eminence of a peak.

The start-end recession indicator (IESR) remains stable near 0, at 2%, confirming there is no sign of recession in the euro area. The current level of the indicator follows the trend embarked on at the end of 2013, after an exit of recession of the euro area mid-2013.


1 Summary analysis

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

80

90

100

110

120

130

140

-6

-4

-2

0

2

4

6

Index 2005=100% change over previous year

50

60

70

-12

-10

-8

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

DZ-Euroland-Indicator (left-hand scale)

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

IFO Indicator (right-hand scale)

3

-2

-1

0

1

2

15

-10

-5

0

5

10

In %In %

-5

-4

-3

-25

-20

-15

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

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

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

100

102

104T

Feb2008

June2003

PJune2009

T PMay2011

TMarch2013

96

98

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Detrended GDP OECD indicator

T: trough / P: peakin the reference series

DZ-Euroland and IFO Business climate Indicators DG-ECFIN Business climate Indicator

OECD Leading Indicator

2015M9 2015M10 2015M11 2015M12 2016M1

OECD-CLI Index 100.5 100.6 100.6 100.6 :

DZ-Euroland indicator Index 98.3 98.4 98.7 98.9 98.6

DG ECFIN Business Climate Indicator Points of std-dev. 0.32 0.43 0.36 0.39 0.29

2015Q1 2015Q2 2015Q3 2015Q4

IFO 129.2 124 122 118.9


Summary analysis 1

Turning point indicators for the euro area

1.0

0.5

0.0

14

14

14

14

14

14

15

15

15

15

15

15

15

15

15

15

15

15

Jul-

Au

g-

Se

p-

Oct

-

No

v-

De

c-

Jan

-

Fe

b-

Ma

r-

Ap

r-

Ma

y-

Jun

-

Jul-

Au

g-

Se

p-

Oct

-

No

v-

De

c-

90

100

60

70

80

20

30

40

50

Probability for a peak

Probability for a peak

Probability for a trough

0

10

20

r-1

4

r-1

4

y-1

4

n-1

4

l-1

4

g-1

4

p-1

4

t-1

4

v-1

4

c-1

4

n-1

5

b-1

5

r-1

5

r-1

5

y-1

5

n-1

5

l-1

5

g-1

5

p-1

5

t-1

5

v-1

5

c-1

5

n-1

6

Mar

Ap

r

May

Jun

Jul

Au

g

Se

p

Oct

No

v

De

c

Jan

Feb

Mar

Ap

r

May

Jun

Jul

Au

g

Se

p

Oct

No

v

De

c

Jan

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 monthsy

IARC indicator

IESR indicator

2015M8 2015M9 2015M10 2015M11 2015M12 2015M1

IARC Probability index 72.3 84.0 87.2 89.9 91.3 94.1

IESR Probability index 0.0 0.0 0.0 0.0 0.0 :


1 Summary analysis

The estimation is based on GDP at market prices, in millions of euro, chain-linked volumes, seasonally adjusted and working day adjusted, reference year 2010 (at 2010 exchange rates), ESA 2010.

Latest cyclical estimates for the euro area and the EU

EA GDP, trend and cycle with HP filter EU28 GDP, trend and cycle with HP filter

0

40000

80000

120000

1900000

2100000

2300000

2500000(Cycle)(GDP, Trend)

-80000

-40000

1500000

1700000

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Q1

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Q1

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Q1

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GDP Trend Cycle

0

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100000

150000

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2750000

3000000


-100000

-50000

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2250000

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Q1

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GDP Trend Cycle

0

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80000

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-80000

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1700000

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Q1

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GDP Trend Cycle

-50000

0

50000

100000

150000

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2750000

3000000


-150000

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2000000

2250000

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Q1

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Q1

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GDP Trend Cycle

0

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80000

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1900000

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-80000

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1700000

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Q1

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GDP Trend Cycle

0

50000

100000

150000

2500000

2750000

3000000


-100000

-50000

2000000

2250000

1995

Q1

1996

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Q1

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Q1

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Q1

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Q1

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Q1

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GDP Trend Cycle

EU28 GDP, trend and cycle with UC filterEA GDP, trend and cycle with UC filter

EA GDP, trend and cycle with CF filter EU28 GDP, trend and cycle with CF filter

GDP cycle


Summary analysis 1

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

Industrial production cycle

EA IPI,trend and cycle with HP filter EU28 IPI, trend and cycle with HP filter

-6

-3

0

3

6

9

12

90

95

100

105

110

115

120(Cycle)(IPI, Trend)

-15

-12

-9

75

80

85

1991

M1

1993

M1

1995

M1

1997

M1

1999

M1

2001

M1

2003

M1

2005

M1

2007

M1

2009

M1

2011

M1

2013

M1

2015

M1

IPI Trend Cycle

-6

-3

0

3

6

9

12

90

95

100

105

110

115


-15

-12

-9

75

80

85

1995

M1

1997

M1

1999

M1

2001

M1

2003

M1

2005

M1

2007

M1

2009

M1

2011

M1

2013

M1

2015

M1

IPI Trend Cycle

-6

-3

0

3

6

9

12

90

95

100

105

110

115


-15

-12

-9

75

80

85

1991

M1

1993

M1

1995

M1

1997

M1

1999

M1

2001

M1

2003

M1

2005

M1

2007

M1

2009

M1

2011

M1

2013

M1

2015

M1

IPI Trend Cycle

-6

-3

0

3

6

9

12

90

95

100

105

110

115


-15

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-9

75

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85

1995

M1

1997

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1999

M1

2001

M1

2003

M1

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M1

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M1

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M1

2011

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2015

M1

IPI Trend Cycle

-6

-3

0

3

6

9

12

90

95

100

105

110

115


-15

-12

-9

75

80

85

1991

M1

1993

M1

1995

M1

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M1

1999

M1

2001

M1

2003

M1

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M1

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M1

2015

M1

IPI Trend Cycle

-6

-3

0

3

6

9

12

90

95

100

105

110

115


-15

-12

-9

75

80

85

1995

M1

1997

M1

1999

M1

2001

M1

2003

M1

2005

M1

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M1

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M1

2011

M1

2013

M1

2015

M1

IPI Trend Cycle

EA IPI, trend and cycle with CF filter EU28 IPI, trend and cycle with CF filter

EA IPI, trend and cycle with UC filter EU28 IPI, trend and cycle with UC filter


1 Summary analysis

Employment cycle

For more information about methodology on trend-cycle decomposition, see the Methodological notes at the end of this section.

EA Employment, trend and cycle with HP filter EU28 Employment, trend and cycle with HP filter

0

2000

4000

6000

8000

135000

140000

145000

150000

155000

(Cycle)(Employment, Trend)

-4000

-2000

0

125000

130000

135000

2000

Q2

2001

Q2

2002

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2003

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2004

Q2

2005

Q2

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2007

Q2

2008

Q2

2009

Q2

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Q2

2011

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2012

Q2

2013

Q2

2014

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2015

Q2

Employment 129596.97Trend 129596.97

0

2000

4000

6000

8000

215000

220000

225000

230000

235000


-4000

-2000

0

205000

210000

215000

2000

Q2

2001

Q2

2002

Q2

2003

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Q2

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Q2

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Q2

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Q2

2008

Q2

2009

Q2

2010

Q2

2011

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2012

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2013

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2014

Q2

2015

Q2

Employment 213479.07 Trend 213479.07Cycle 0

0

2000

4000

6000

8000

135000

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145000

150000

155000


-4000

-2000

125000

130000

2000

Q1

2001

Q1

2002

Q1

2003

Q1

2004

Q1

2005

Q1

2006

Q1

2007

Q1

2008

Q1

2009

Q1

2010

Q1

2011

Q1

2012

Q1

2013

Q1

2014

Q1

2015

Q1

Employment Trend Cycle

0

2000

4000

6000

8000

215000

220000

225000

230000

235000


-4000

-2000

205000

210000

2000

Q1

2001

Q1

2002

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2003

Q1

2004

Q1

2005

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2006

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2007

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2008

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2009

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2010

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2011

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2012

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2013

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2014

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2015

Q1


0

2000

4000

6000

8000

135000

140000

145000

150000

155000


-4000

-2000

0

125000

130000

135000

2000

Q1

2001

Q1

2002

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2003

Q1

2004

Q1

2005

Q1

2006

Q1

2007

Q1

2008

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2009

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2010

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2011

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2012

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2013

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2014

Q1

2015

Q1


0

2000

4000

6000

8000

215000

220000

225000

230000

235000


-4000

-2000

0

205000

210000

215000

2000

Q1

2001

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2002

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2003

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2004

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2005

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2006

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2007

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2008

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2009

Q1

2010

Q1

2011

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2012

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2013

Q1

2014

Q1

2015

Q1


EU28 Employment, trend and cycle with UC filterEA Employment, trend and cycle with UC filter

EA Employment, trend and cycle with CF filter EU28 Employment, trend and cycle with CF filter

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


Summary analysis 1Methodological 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).

http://www.euro-frame.org/

http://eurocoin.cepr.org

http://www.oecd.org

http://www.ifo.de

http://ec.europa.eu/economy_finance/db_indicators/surveys9185_en.htm

http://www.dzbank.de

http://www.coe-rexecode.fr

http://www.coe-rexecode.fr


1 Summary analysis

Trend-cycle decomposition

The trend and cycle are two components of a time series that represent variations of low frequency and “business cycle” frequency, respectively, the high frequency fluctuations having been filtered out. Identifying and estimating trend and cyclical components of key economic indicators is invaluable when making decisions and informing policy-makers. The distinction between the two components helps the analyst ascertain whether any change to the indicator is temporary or permanent.

However, there exist many alternative methods to identify and estimate trends and (business or deviation) cycles. The estimates for three indicators – GDP, industrial production, and employment – are produced using three different filters:

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

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

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

Principal European Economic Indicators (PEEIs)

Section II


2 Principal European Economic Indicators (PEEIs)

Detailed PEEIs analysis for European Union (EU28)Indicators Unit Reference Period 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4GDP (volume) Q/Q-1 % (1) 0.5 0.6 0.5 0.4 : Q/Q-4 % 1.4 1.6 2.0 1.9 :Private final consumption (volume) Q/Q-1 % (1) 0.6 0.6 0.4 0.5 : Q/Q-4 % 1.5 2.1 1.9 2.2 :

Investment (GFCF) (volume) Q/Q-1 % (1) 0.6 1.5 0.4 0.3 : Q/Q-4 % 2.0 2.6 3.4 2.4 : 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01External trade balance (extra EU28) (2) mn euro 4513.1 3136.4 5943.4 6236.1 3886.5 5895.3 5132.5 4585.9 1611.9 4476.6 : :

2014Q4 2015Q1 2015Q2 2015Q3 2015Q4BOP Current account (extra EU28) mn euro 53044.7 30376.6 29660.8 45584.6 :

2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01Inflation (Harmonized Index of Consumer Prices - All items)

M/M-1 % 0.5 0.9 0.3 0.2 0.0 -0.5 0.0 0.1 0.1 -0.1 0.0 :M/M-12 % -0.3 -0.1 0.0 0.3 0.1 0.2 0.0 -0.1 0.0 0.1 0.2 :

Industrial producer pricesM/M-1 % 0.6 0.3 0.0 0.1 0.0 -0.3 -0.9 -0.3 -0.3 -0.2 -0.8 :M/M-12 % -3.4 -2.9 -2.7 -2.5 -2.7 -2.7 -3.4 -3.8 -3.6 -3.5 -3.2 :

2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01Unemployment rate - total (2) % 9.7 9.7 9.6 9.6 9.5 9.4 9.3 9.2 9.1 9.0 9.0 :Unemployment rate - age <25 year (2) % 20.9 20.9 20.7 20.7 20.6 20.2 20.2 20.0 20.0 19.7 19.7 :

Unemployment rate - age >25 year (2) % 8.6 8.5 8.5 8.4 8.4 8.3 8.2 8.1 8.0 7.9 7.9 :

2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4Labour Cost Index Q/Q-1 % (1) 0.5 0.8 0.3 0.3 : Q/Q-4 % (3) 1.5 2.3 1.9 1.8 : 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4Employment Q/Q-1 % (1) 0.2 0.4 0.3 0.4 : Q/Q-4 % 1.2 1.1 1.0 1.1 : 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01

Industrial production M/M-1 % (1) 0.9 -0.1 0.0 -0.1 0.0 0.4 -0.2 0.0 0.6 -0.6 : :M/M-12 % (3) 1.8 2.3 1.1 2.1 2.1 1.9 2.5 1.8 2.4 1.4 : :

Production in constructionM/M-1 % (1) -0.7 1.7 -0.7 -0.5 -0.1 0.4 -0.4 -0.2 0.2 0.7 : :M/M-12 % -0.7 1.0 1.2 1.8 1.3 1.1 -0.2 0.6 1.0 1.9 : :

Retail trade deflated turnoverM/M-1 % (1) 0.2 -0.1 0.4 0.3 0.0 0.4 0.0 0.3 0.0 0.3 0.1 :M/M-12 % 3.2 2.8 2.8 3.3 2.9 3.9 2.9 3.9 3.1 2.7 2.0 :

2014Q4 2015Q1 2015Q2 2015Q3 2015Q4General government deficit (-) /surplus (+) % -2.8 -3.0 -2.1 -2.2 :

General government gross debt % 86.8 88.1 87.7 86.0 :

2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01

Economic sentiment indicator (2) index 104.7 105.6 106.0 106.0 105.1 106.1 106.5 107.2 107.4 107.2 108.5 106.7

2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M013-month interest rate % - - - - - - - - - - - -Long term government bond yields % 1.22 1.13 1.14 1.53 1.82 1.60 1.59 1.58 1.43 1.43 1.47 :

Euro-dollar exchange rate Average - - - - - - - - - - - -

(1) swda: Seasonally adjusted and adjusted data by working days(2) sa: Seasonally adjusted data(3) wda: Adjusted data by working days « : » not available data; « - » not existing dataThe set of indicators is selected from the PEEIs list (COM/2002/661) and complemented by certain Monetary and Financial Indicators as well as the Economic Sentiment Indicator.Indicator SourceCurrent account European Central Bank (ECB) for euro area only3 months Interest rate ECBLong term government bond yields ECBEuro-dollar exchange rate ECBEconomic Sentiment Indicator Directorate General for Economic and Financial Affairs (DG ECFIN)


Principal European Economic Indicators (PEEIs) 2

Graph 1: Output Graph 2: Demand

Graph 4: PricesGraph 3: Labour

Graph 5: External Transactions Graph 6: Financial

European Union (EU28)

95.0

100.0

105.0

110.0

115.0

0.0

1.0

2.0

3.0

4.0

IndexGrowth rate

85.0

90.0

-2.0

-1.0

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

GDP (q/q-1) GDP (q/q-4)

Industrial Production (m/m-1) Industrial Production (m/m-12)

Economic Sentiment Indicator

0.0

1.0

2.0

3.0

4.0

0.0

1.0

2.0

3.0

4.0

Growth rate(RT)

Growth rate(PFC,I)

-2.0

-1.0

-2.0

-1.0

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

Private Final Consumption (PFC) (q/q-1) Private Final Consumption(q/q-4)Investment (I)(q/q-1) Investment (q/q-4)Retail trade (RT) (m/m-1) Retail trade (m/m-12)

1.0

2.0

3.0

9.4

9.8

10.2Growth rate %

-1.0

0.0

8.6

9.0

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

Employment (q/q-1) Employment (q/q-4) Labour cost index (q/q-1)

Labour cost index (q/q-4) Unemployment rate Total (%)

-3.0

-2.0

-1.0

0.0

1.0

Growth Rate

-5.0

-4.0

3.0

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

HICP (m/m-12) Industrial producer prices (m/m-12)


20000

25000

30000

35000

40000

45000

50000millions euro

0

5000

10000

15000

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

External trade balance (1) BOP current account (2)

1

1.2

1.4

1.6

3.0

4.0

5.0

6.0

€/$%

0.4

0.6

0.8

0.0

1.0

2.0

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

Long-term government bond yields - rates Euro-dollar exchange rate

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



Detailed PEEIs analysis for euro area (*) Indicators Unit Reference Period 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4GDP (volume) Q/Q-1 % (1) 0.4 0.5 0.4 0.3 : Q/Q-4 % 0.9 1.3 1.6 1.6 :Private final consumption (volume) Q/Q-1 % (1) 0.5 0.5 0.3 0.4 : Q/Q-4 % 1.1 1.7 1.6 1.8 :

Investment (GFCF) (volume) Q/Q-1 % (1) 0.6 1.5 0.1 0.0 : Q/Q-4 % 1.0 2.1 2.7 2.0 : 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01External trade balance (extra euro area)(2) mn euro 23138.4 17671.3 19711.5 21127.7 19245.2 22386.4 19239.8 19776.2 19833.3 22662.3 : :

2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01BOP Current account (extra euro area) mn euro 14318.0 33818.0 21132.0 4297.0 30646.0 37636.0 14554.0 33836.0 27471.0 29776.0 : :


M/M-1 % 0.6 1.1 0.2 0.2 0.0 -0.6 0.0 0.2 0.1 -0.2 0.0 -1.4M/M-12 % -0.3 -0.1 0.0 0.3 0.2 0.2 0.1 -0.1 0.1 0.1 0.2 0.4

Industrial producer pricesM/M-1 % 0.6 0.2 0.0 0.0 0.0 -0.2 -0.8 -0.4 -0.4 -0.2 -0.8 :M/M-12 % -2.8 -2.3 -2.1 -2.0 -2.1 -2.1 -2.7 -3.2 -3.2 -3.2 -3.0 :



2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4Labour Cost Index Q/Q-1 % (1) 0.3 0.6 0.3 -0.1 : Q/Q-4 % (3) 1.2 1.9 1.6 1.1 : 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4Employment Q/Q-1 % (1) 0.2 0.2 0.4 0.3 : Q/Q-4 % 0.9 0.9 1.0 1.1 : 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01

Industrial productionM/M-1 % (1) 1.0 -0.4 0.0 -0.1 -0.3 0.8 -0.5 -0.2 0.8 -0.7 : :M/M-12 % (3) 2.0 2.1 0.7 1.7 1.6 1.8 2.1 1.4 2.0 1.1 : :

Production in constructionM/M-1 % (1) -1.5 0.7 -0.4 0.2 -0.7 0.4 0.5 -0.7 0.6 0.8 : :M/M-12 % -3.7 -2.1 -1.3 0.3 -1.0 -0.3 -1.4 0.1 0.8 2.1 : :

Retail trade deflated turnoverM/M-1 % (1) 0.2 -0.3 0.4 0.3 0.0 0.5 0.2 -0.1 -0.2 0.0 0.3 :M/M-12 % 2.6 1.9 2.5 2.7 2.2 3.5 2.7 3.3 2.5 1.6 1.4 :

2014Q4 2015Q1 2015Q2 2015Q3 2015Q4General government deficit (-)/ surplus (+) % -1.7 -3.7 -1.5 -1.8 :


2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01


2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M013-month interest rate % 0.05 0.03 0.00 -0.01 -0.01 -0.02 -0.03 -0.04 -0.05 -0.09 : :Long term government bond yields % 1.03 0.89 0.89 1.30 1.63 1.32 1.38 1.38 1.20 1.17 1.21 :

Euro-dollar exchange rate Average 1.14 1.08 1.08 1.12 1.12 1.10 1.11 1.12 1.12 1.07 1.09 1.09

(1) swda: Seasonally adjusted and adjusted data by working days(2) sa: Seasonally adjusted data(3) wda: Adjusted data by working days « : » 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 enlargementThe set of indicators is selected from the PEEIs list (COM/2002/661) and complemented by certain Monetary and Financial Indicators as well as the Economic Sentiment Indicator.Indicator SourceCurrent account European Central Bank (ECB) for euro area only3 months Interest rate ECBLong term government bond yields ECBEuro-dollar exchange rate ECBEconomic Sentiment Indicator Directorate General for Economic and Financial Affairs (DG ECFIN)


Principal European Economic Indicators (PEEIs) 2Euro area




95.0

100.0

105.0

110.0

115.0

-1.0

0.0

1.0

2.0

3.0

IndexGrowth rate

85.0

90.0

-3.0

-2.0

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

GDP (q/q-1) GDP (q/q-4)Industrial Production (m/m-1) Industrial Production (m/m-12)Economic Sentiment Indicator

1.0

2.0

3.0

4.0

0.0

1.0

2.0

3.0

Growth rate(RT)

Growth rate(PFC,I)

-1.0

0.0

-2.0

-1.0

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

Private Final Consumption (PFC)(q/q-1) Private Final Consumption(q/q-4)Investment (I)(q/q-1) Investment (q/q-4)Retail trade (RT)(m/m-1) Retail trade (m/m-12)

1.0

2.0

3.0

11.0

11.5

12.0Growth rate %

-1.0

0.0

10.0

10.5

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

Employment (q/q-1) Employment (q/q-4) Labour cost index (q/q-1)


2 0

-1.5

-1.0

-0.5

0.0

0.5

1.0

1.5

Growth Rate

-3.5

-3.0

-2.5

-2.0

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

Industrial producer prices (m/m-12) Industrial producer prices (m/m-1)

HICP (m/m-12) HICP (m/m-1)

15000

20000

25000

30000

35000

40000millions euro

0

5000

10000

15000

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

External trade balance BOP current account

1

1.2

1.4

1.6

2.0

3.0

4.0

5.0

€/$%

0.4

0.6

0.8

-1.0

0.0

1.0

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

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



Detailed PEEIs analysis for BelgiumIndicators Unit Reference Period 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4GDP (volume) Q/Q-1 % (1) 0.3 0.3 0.5 0.2 0.3 Q/Q-4 % 1.2 1.2 1.5 1.3 :Private final consumption (volume) Q/Q-1 % (1) 0.1 0.7 0.6 -0.2 : Q/Q-4 % 0.3 1.1 1.4 1.2 :

Investment (GFCF) (volume) Q/Q-1 % (1) -4.9 9.5 -10.0 0.8 : Q/Q-4 % 6.2 13.3 0.4 -5.3 : 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01External trade balance (extra euro area) (2) mn euro -83.6 -1229.8 -718.5 -282.2 -273.8 -455.1 -382.9 -779.8 -378.5 -59.3 : :

External trade balance (extra EU28) (2) mn euro -1761.6 -2953.4 -2203.3 -1803.5 -2035.8 -2112.1 -2031.6 -2329.1 -1948.0 -1860.6 : :

2014Q4 2015Q1 2015Q2 2015Q3 2015Q4BOP Current account (All countries of the world) mn euro 1559.0 -2408.0 1342.0 262.0 :


M/M-1 % 2.4 0.3 0.3 0.3 0.2 -1.3 1.3 -0.2 0.3 0.1 0.0 :M/M-12 % -0.4 -0.1 0.4 0.8 0.9 0.9 0.8 0.9 1.2 1.4 1.4 :

Industrial producer pricesM/M-1 % 1.3 1.7 -0.3 0.8 -0.4 -1.0 -1.2 0.5 -0.3 -0.4 -2.0 :M/M-12 % -6.8 -4.6 -3.4 -2.4 -3.0 -3.1 -3.9 -3.5 -4.2 -3.7 -3.0 :



2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4Labour Cost Index Q/Q-1 % (1) 0.1 -0.2 0.1 0.1 : Q/Q-4 % (3) 0.6 0.2 0.1 0.1 : 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4Employment Q/Q-1 % (1) 0.2 0.1 0.3 0.3 : Q/Q-4 % 0.6 0.7 0.8 0.9 : 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01

Industrial productionM/M-1 % (1) -3.1 3.1 -0.9 0.3 -2.1 2.0 0.0 0.0 0.9 1.3 : :M/M-12 % (3) -4.1 2.1 -0.7 0.2 -4.5 0.6 1.6 -1.2 1.2 1.4 : :

Production in constructionM/M-1 % (1) -0.8 0.4 -2.0 1.2 -0.4 0.3 -0.3 -1.1 0.9 -2.1 : :M/M-12 % -5.5 1.3 -5.5 2.3 -1.3 -1.2 1.2 -3.6 0.5 -7.5 : :

Retail trade deflated turnoverM/M-1 % (1) -0.4 -0.5 0.9 0.6 0.7 -0.2 -0.9 -1.3 -0.1 -0.4 0.7 :M/M-12 % 1.5 -1.2 0.7 -1.3 1.6 1.9 -1.5 0.2 -1.3 -2.2 -1.2 :

2014Q4 2015Q1 2015Q2 2015Q3 2015Q4General government deficit (-)/ surplus (+) % 2.8 -9.9 1.0 -6.5 :


2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01



(1) swda: Seasonally adjusted and adjusted data by working days(2) sa: Seasonally adjusted data(3) wda: Adjusted data by working days « : » not available data; « - » not existing dataThe set of indicators is selected from the PEEIs list (COM/2002/661) and complemented by certain Monetary and Financial Indicators as well as the Economic Sentiment Indicator.Indicator Source3 months Interest rate ECBLong term government bond yields ECBEuro-dollar exchange rate ECBEconomic Sentiment Indicator Directorate General for Economic and Financial Affairs (DG ECFIN)


Principal European Economic Indicators (PEEIs) 2Belgium




90

95

100

105

110

2 0

0.0

2.0

4.0

6.0

IndexGrowth rate

80

85

90

-6.0

-4.0

-2.0

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

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

0.0

1.0

2.0

3.0

-5.0

0.0

5.0

10.0

Growth Rate (RT)Growth Rate (PFC, I)

-2.0

-1.0

-15.0

-10.0

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

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

0.5

1.0

1.5

8.1

8.5

8.9

Growth Rate %

-0.5

0.0

7.3

7.7

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

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

0.0

1.0

2.0

3.0Growth Rate

-3.0

-2.0

-1.0

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


0

2000

4000

6000millions euro

-4000

-2000

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


1.400

1.600

1.800

2.0

3.0

4.0

€/$%

1.000

1.200

0.0

1.0

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




Detailed PEEIs analysis for BulgariaIndicators Unit Reference Period 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4GDP (volume) Q/Q-1 % (1) 0.6 0.9 0.6 0.7 : Q/Q-4 % 2.4 3.3 2.8 3.0 :Private final consumption (volume) Q/Q-1 % (1) 0.1 -0.2 0.3 1.0 : Q/Q-4 % 3.2 -1.0 -0.7 2.1 :

Investment (GFCF) (volume) Q/Q-1 % (1) -0.9 -0.4 0.4 0.6 : Q/Q-4 % 0.1 -3.6 0.6 3.2 : 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01External trade balance (extra EU28) (2) mn euro -145.9 -70.6 -54.5 -54.6 -93.5 -113.5 -117.5 -92.0 -126.0 -113.0 : :

2014Q4 2015Q1 2015Q2 2015Q3 2015Q4BOP Current account (All countries of the world) mn euro -533.7 131.5 -155.7 1156.6 :


M/M-1 % 0.1 0.3 0.5 0.0 -0.5 0.2 0.1 -0.8 -0.2 -0.3 0.4 :M/M-12 % -1.7 -1.1 -0.9 -0.3 -0.6 -1.0 -0.8 -0.9 -1.2 -0.9 -0.9 :

Industrial producer pricesM/M-1 % 0.7 0.6 -0.4 0.3 0.2 -0.5 -1.3 -0.1 -0.6 -0.6 -0.5 :M/M-12 % -1.2 -0.4 -0.6 -0.4 -0.3 -0.7 -1.8 -2.1 -3.9 -3.8 -3.2 :


Unemployment rate - age >25 year (12 % 9.0 9.2 9.2 9.2 8.9 8.5 8.3 8.1 8.0 8.1 8.1 :


Industrial productionM/M-1 % (1) -0.7 -1.4 0.4 0.7 0.6 -0.8 -0.2 -0.8 0.3 0.8 : :M/M-12 % (3) 2.5 2.7 1.7 3.9 5.8 3.4 4.3 0.8 1.2 1.7 : :

Production in constructionM/M-1 % (1) -0.1 -0.2 -1.5 -1.1 3.2 -0.5 -1.3 -0.8 0.3 0.4 : :M/M-12 % -2.2 -1.3 -1.1 -7.0 1.8 -0.5 -0.3 -3.0 -4.7 -0.5 : :

Retail trade deflated turnoverM/M-1 % (1) -0.4 -1.4 -0.1 0.7 0.2 -1.1 -0.8 0.4 0.7 1.3 0.2 :M/M-12 % 4.2 0.8 0.5 0.8 2.7 0.1 -1.9 -2.5 -1.3 2.0 2.7 :

2014Q4 2015Q1 2015Q2 2015Q3 2015Q4General government deficit (-)/ surplus (+) % -16.0 4.0 2.1 -0.3 :


2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01


2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M013-month interest rate % 0.61 0.57 0.56 0.55 0.54 0.52 0.51 0.52 0.51 0.49 0.47 :Long term government bond yields % 2.52 2.49 2.36 2.36 2.36 2.36 2.36 2.36 2.36 2.99 2.43 :New bulgarian Lev exchange rates against the euro Average 1.96 1.96 1.96 1.96 1.96 1.96 1.96 1.96 1.96 1.96 1.96 1.96



Principal European Economic Indicators (PEEIs) 2Bulgaria




95

100

105

110

-2.0

0.0

2.0

4.0

IndexGrowth rate

85

90

-6.0

-4.0

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


0.0

1.0

2.0

3.0

0.0

1.0

2.0

3.0


-2.0

-1.0

-2.0

-1.0

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


0.0

2.0

4.0

6.0

9.5

10.0

10.5

11.0

Growth Rate %

-4.0

-2.0

8.5

9.0

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


-0.5

0.0

0.5

1.0Growth Rate

-1.5

-1.0

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


400

600

800

1000

1200

1400

millions euro

-400

-200

0

200

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


1.940

1.950

1.960

1.970

2.0

3.0

4.0

5.0

Bulgarian Lev/€%

1.920

1.930

0.0

1.0

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

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

Bulgarian Lev exchange rates against the euro



Detailed PEEIs analysis for Czech RepublicIndicators Unit Reference Period 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4GDP (volume) Q/Q-1 % (1) 0.4 2.5 1.0 0.5 : Q/Q-4 % 1.0 4.1 4.6 3.9 :Private final consumption (volume) Q/Q-1 % (1) 0.9 1.2 0.5 0.3 : Q/Q-4 % 1.8 2.8 2.9 2.7 :

Investment (GFCF) (volume) Q/Q-1 % (1) 0.7 1.2 4.9 1.3 : Q/Q-4 % 1.1 2.9 7.5 6.8 : 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01External trade balance (extra EU28) (2) mn euro -340.6 -400.8 -228.7 -231.0 -357.8 -585.4 -330.2 -339.4 -706.6 -466.6 : :

2014Q4 2015Q1 2015Q2 2015Q3 2015Q4BOP Current account (All countries of the world) mn euro 182.6 3356.8 -533.3 -1081.6 :


M/M-1 % 0.1 0.2 0.4 0.3 0.2 -0.2 -0.2 -0.2 0.0 -0.5 -0.1 :M/M-12 % -0.1 0.1 0.5 0.7 0.9 0.4 0.2 0.2 0.2 0.0 -0.1 :

Industrial producer pricesM/M-1 % -0.1 0.5 0.4 0.5 -0.2 -0.5 -0.8 -0.7 -0.2 -0.4 -0.5 :M/M-12 % -3.6 -3.0 -2.6 -2.1 -2.3 -3.0 -3.8 -4.2 -3.9 -3.7 -2.9 :




Industrial productionM/M-1 % (1) 0.9 -0.2 0.7 -0.2 0.9 1.3 -3.8 2.5 1.4 -1.2 : :M/M-12 % (3) 4.9 4.0 4.5 5.2 6.0 7.4 7.0 3.5 6.4 3.1 : :

Production in constructionM/M-1 % (1) 1.3 1.8 -0.4 -0.5 -0.9 1.4 -3.7 0.4 -1.7 -0.7 : :M/M-12 % 6.7 9.0 10.3 12.9 7.3 13.3 4.2 2.6 0.0 0.3 : :

Retail trade deflated turnoverM/M-1 % (1) 0.5 -0.9 0.4 0.8 0.1 0.6 -1.0 1.7 1.0 -0.4 0.6 :M/M-12 % 7.3 4.8 5.1 6.5 5.5 7.1 3.5 6.4 6.8 5.6 5.5 :

2014Q4 2015Q1 2015Q2 2015Q3 2015Q4General government deficit (-)/ surplus (+) % -3.5 -1.3 1.2 0.9 :


2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01


2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M013-month interest rate % 0.33 0.32 0.31 0.31 0.31 0.31 0.31 0.30 0.29 0.29 0.29 :Long term government bond yields % 0.40 0.35 0.26 0.60 1.01 0.97 0.74 0.68 0.56 0.49 0.49 :

Czech Koruna exchange rates against the euro Average 27.61 27.38 27.44 27.40 27.31 27.09 27.04 27.09 27.11 27.04 27.03 27.03



Principal European Economic Indicators (PEEIs) 2Czech Republic




95

100

105

110

115

3 0

0.0

3.0

6.0

9.0

IndexGrowth rate

85

90

95

-9.0

-6.0

-3.0

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


0.0

2.0

4.0

6.0

2.0

4.0

6.0

8.0


-4.0

-2.0

-2.0

0.0

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


0.0

1.0

2.0

3.0

5.0

5.3

5.6

5.9

Growth Rate %

-2.0

-1.0

4.4

4.7

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


-0 4

-0.2

0.0

0.2

0.4

0.6Growth Rate

-1.0

-0.8

-0.6

0.4

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


500

1000

1500

2000

2500

3000

3500

4000

millions euro

-1500

-1000

-500

0

500

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


26.000

27.000

28.000

29.000

0.6

0.8

1.0

1.2

Czech Koruna/€%

23.000

24.000

25.000

0.0

0.2

0.4

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


Czech Koruna exchange rates against the euro



Detailed PEEIs analysis for DenmarkIndicators Unit Reference Period 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4GDP (volume) Q/Q-1 % (1) 0.2 0.6 0.2 -0.4 : Q/Q-4 % 1.2 1.3 1.9 0.6 :Private final consumption (volume) Q/Q-1 % (1) 0.7 0.8 0.0 0.6 : Q/Q-4 % 1.9 2.9 1.8 2.1 :

Investment (GFCF) (volume) Q/Q-1 % (1) 2.0 -2.3 0.8 -1.0 : Q/Q-4 % 6.3 0.7 1.7 -0.7 : 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01External trade balance (extra EU28) (2) mn euro 791.7 1155.6 800.9 670.3 633.8 696.3 622.6 922.1 666.9 838.1 : :

2014Q4 2015Q1 2015Q2 2015Q3 2015Q4BOP Current account (All countries of the world) mn euro 5573.1 3725.2 4187.7 5868.6 :


M/M-1 % 0.9 0.5 0.2 0.0 -0.1 -0.1 -0.3 0.3 0.0 -0.3 0.0 :M/M-12 % 0.0 0.3 0.4 0.4 0.4 0.5 0.3 0.3 0.2 0.1 0.3 :

Industrial producer pricesM/M-1 % 1.7 -0.8 0.4 -0.4 -0.9 -2.6 1.7 -0.4 0.5 -0.9 -2.4 :M/M-12 % -5.8 -5.7 -5.6 -6.9 -7.3 -9.0 -6.8 -7.6 -4.9 -4.9 -5.8 :




Industrial productionM/M-1 % (1) -0.1 4.3 -1.0 -2.4 5.2 -5.1 3.5 -1.9 -2.4 -0.1 : :M/M-12 % (3) -2.3 4.1 2.5 0.4 10.5 1.4 2.7 2.0 -1.2 -1.6 : :

Production in constructionM/M-1 % (1) 2.7 3.5 -6.2 2.5 3.3 -4.5 3.1 0.9 0.8 0.4 : :M/M-12 % 4.7 4.7 1.3 1.7 14.9 2.7 4.0 3.6 3.9 3.2 : :

Retail trade deflated turnoverM/M-1 % (1) 0.0 1.0 -1.0 -3.4 3.8 0.8 0.0 -0.5 0.8 0.2 -1.4 :M/M-12 % 0.9 3.1 0.4 -2.4 1.0 2.7 1.7 1.6 2.3 1.7 -0.3 :

2014Q4 2015Q1 2015Q2 2015Q3 2015Q4General government deficit (-)/ surplus (+) % 2.2 -4.0 -1.4 -1.7 :


2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01


2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M013-month interest rate % -0.33 -0.19 -0.19 -0.18 -0.20 -0.16 -0.07 -0.01 -0.07 -0.14 -0.13 :Long term government bond yields % 0.20 0.30 0.25 0.73 1.00 0.94 0.84 0.93 0.83 0.81 0.83 :

Danish Krone exchange rates against the euro Average 7.45 7.46 7.47 7.46 7.46 7.46 7.46 7.46 7.46 7.46 7.46 7.46



Principal European Economic Indicators (PEEIs) 2Denmark




85

95

105

115

0.0

3.0

6.0

9.0

IndexGrowth rate

65

75

-6.0

-3.0

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


0.0

2.0

4.0

6.0

0.0

2.0

4.0

6.0


-4.0

-2.0

-4.0

-2.0

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


0.0

0.5

1.0

1.5

6.5

7.0

7.5

8.0

Growth Rate %

-1.0

-0.5

0.0

5.5

6.0

6.5

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


-1

-1

0

1

1

2

2

Growth Rate

-3

-3

-2

-2

1

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


3000

4000

5000

6000

7000millions euro

0

1000

2000

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


7.440

7.450

7.460

7.470

1.0

2.0

3.0

4.0

Danish Krone/€%

7.420

7.430

-1.0

0.0

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


Danish Krone exchange rates against the euro



Detailed PEEIs analysis for GermanyIndicators Unit Reference Period 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4GDP (volume) Q/Q-1 % (1) 0.6 0.3 0.4 0.3 : Q/Q-4 % 1.6 1.2 1.6 1.8 :Private final consumption (volume) Q/Q-1 % (1) 1.0 0.4 0.1 0.6 : Q/Q-4 % 1.6 2.3 1.8 2.1 :

Investment (GFCF) (volume) Q/Q-1 % (1) 1.3 1.7 -0.4 -0.3 : Q/Q-4 % 1.9 0.9 1.9 2.2 : 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01External trade balance (extra euro area)(2) mn euro 21285.8 20740.4 20570.3 20866.9 19942.3 20861.4 19506.7 20567.6 19072.8 20532.6 : :

External trade balance (extra EU28) (2) mn euro 15792.2 15329.6 15837.1 15613.7 14738.8 15309.6 14921.4 15192.3 13537.6 14922.4 : :



M/M-1 % 1.0 0.5 -0.1 0.1 -0.2 0.3 0.0 -0.3 0.0 0.1 0.0 :M/M-12 % 0.0 0.2 0.3 0.7 0.1 0.1 0.1 -0.2 0.2 0.3 0.2 :

Industrial producer pricesM/M-1 % 0.2 0.1 0.0 0.0 -0.1 0.0 -0.4 -0.4 -0.4 -0.2 -0.4 :M/M-12 % -1.9 -1.6 -1.5 -1.3 -1.4 -1.3 -1.6 -2.0 -2.2 -2.4 -2.2 :




Industrial productionM/M-1 % (1) 0.2 -0.5 0.6 0.4 -0.6 0.9 -0.8 -1.0 0.3 -0.5 : :M/M-12 % (3) 1.0 0.2 1.1 2.6 1.4 1.0 3.0 0.4 0.2 -0.3 : :

Production in constructionM/M-1 % (1) -1.7 0.8 -1.0 0.1 -1.9 1.2 1.4 -2.0 1.6 1.6 : :M/M-12 % -7.0 -1.0 -1.7 1.1 -2.3 -0.6 1.1 -0.3 1.4 2.2 : :

Retail trade deflated turnoverM/M-1 % (1) 0.0 -0.6 0.0 0.5 -0.8 1.3 -0.3 0.2 -0.3 0.4 -0.2 :M/M-12 % 3.1 1.8 3.0 3.7 1.4 4.1 2.6 3.7 2.5 2.4 1.5 :

2014Q4 2015Q1 2015Q2 2015Q3 2015Q4General government deficit (-)/ surplus (+) % 0.9 0.1 2.0 0.4 :


2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01





Principal European Economic Indicators (PEEIs) 2Germany




105

110

115

0.0

3.0

6.0

IndexGrowth rate

95

100

-6.0

-3.0

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


0.0

2.0

4.0

0.0

2.0

4.0


-4.0

-2.0

-4.0

-2.0

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


1.0

2.0

3.0

5.0

5.5

6.0

Growth Rate %

-1.0

0.0

4.0

4.5

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


0.2

0.4

0.6

0.8

1.0

1.2

Growth Rate

-0.6

-0.4

-0.2

0.0

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


30000

40000

50000

60000

70000

millions euro

0

10000

20000

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


1.200

1.400

1.600

1.800

1.0

1.5

2.0

2.5€/$%

0.800

1.000

0.0

0.5

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




Detailed PEEIs analysis for EstoniaIndicators Unit Reference Period 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4GDP (volume) Q/Q-1 % (1) 1.3 -0.8 0.6 -0.4 : Q/Q-4 % 3.4 1.1 2.2 0.7 :Private final consumption (volume) Q/Q-1 % (1) 1.8 1.0 1.3 0.5 : Q/Q-4 % 5.4 5.5 5.9 4.4 :

Investment (GFCF) (volume) Q/Q-1 % (1) -1.0 -1.4 -0.1 -0.9 : Q/Q-4 % -10.6 -9.7 -8.0 -3.5 : 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01External trade balance (extra euro area)(2) mn euro -10.3 65.2 104.3 60.0 51.1 75.8 63.1 38.8 58.5 66.8 : :




M/M-1 % 0.5 0.7 0.6 0.4 0.1 -0.3 -0.2 -0.6 0.2 -0.3 -0.7 :M/M-12 % -0.2 0.0 0.4 0.5 0.3 0.1 0.2 -0.3 0.0 0.5 -0.2 :

Industrial producer pricesM/M-1 % -0.1 0.4 0.1 -0.9 0.6 -1.5 0.6 -0.9 0.4 -1.1 -2.0 :M/M-12 % -1.6 -0.4 -0.1 -2.5 -1.2 -4.3 -3.3 -5.2 -3.4 -3.2 -5.5 :

2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01Unemployment rate - total (2) % 6.0 6.1 6.5 6.4 6.2 5.8 5.9 6.1 6.3 6.5 : :Unemployment rate - age <25 year (2) % 11.8 11.9 11.4 10.8 10.4 12.2 13.9 15.4 15.7 17.1 : :

Unemployment rate - age >25 year (2) % 5.4 5.5 6.1 6.0 5.8 5.3 5.1 5.2 5.5 5.6 : :


Industrial productionM/M-1 % (1) 0.9 -0.9 1.0 -1.2 -1.3 -0.3 0.3 0.2 0.6 -2.7 -2.9 :M/M-12 % (3) 4.4 1.3 -0.2 -1.9 -2.8 -5.8 -2.9 -3.9 -2.5 -6.2 -8.8 :

Production in constructionM/M-1 % (1) - - - - - - - - - - - -M/M-12 % - - - - - - - - - - - -

Retail trade deflated turnoverM/M-1 % (1) -0.6 0.5 0.3 0.9 0.7 2.0 -1.1 0.1 2.0 -1.5 2.1 :M/M-12 % 5.1 3.5 1.7 4.9 4.8 7.0 4.7 4.2 6.5 1.7 5.8 :

2014Q4 2015Q1 2015Q2 2015Q3 2015Q4General government deficit (-)/ surplus (+) % 2.3 -3.5 1.6 2.0 :


2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01


2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M013-month interest rate % - - - - - - - - - - - -Long term government bond yields bond yields % : : : : : : : : : : : :



Principal European Economic Indicators (PEEIs) 2Estonia




100

105

110

115

-2.0

0.0

2.0

4.0

IndexGrowth rate

90

95

-6.0

-4.0

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


2 0

0.0

2.0

4.0

6.0

2 0

0.0

2.0

4.0

6.0


-6.0

-4.0

-2.0

-6.0

-4.0

-2.0

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


0.0

1.0

2.0

3.0

7.0

7.5

8.0

8.5

Growth Rate %

-3.0

-2.0

-1.0

5.5

6.0

6.5

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


-1.0

-0.5

0.0

0.5

1.0

Growth Rate

-2.5

-2.0

-1.5

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


100

150

200

250

300

millions euro

-50

0

50

100

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


1.20

1.30

1.40

€/$

1.00

1.10

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

Euro-dollar exchange rate



Detailed PEEIs analysis for IrelandIndicators Unit Reference Period 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4GDP (volume) Q/Q-1 % (1) 1.1 2.2 1.9 1.4 : Q/Q-4 % 6.0 7.3 6.8 7.0 :Private final consumption (volume) Q/Q-1 % (1) 1.7 0.8 0.4 0.7 : Q/Q-4 % 3.1 3.9 2.9 3.6 :

Investment (GFCF) (volume) Q/Q-1 % (1) 8.2 -1.4 20.0 4.9 : Q/Q-4 % 20.3 9.2 34.2 35.9 : 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01External trade balance (extra euro area) (1) mn euro 2090.0 1995.5 2080.8 2043.2 1805.8 1857.6 2031.8 2030.1 2490.1 2436.2 : :




M/M-1 % 0.6 0.6 -0.1 0.5 0.4 -0.3 0.3 -0.5 -0.3 -0.4 -0.1 :M/M-12 % -0.4 -0.3 -0.4 0.2 0.4 0.2 0.2 0.0 0.0 -0.1 0.2 :

Industrial producer pricesM/M-1 % -0.8 2.6 0.0 -0.4 0.2 1.3 -0.9 -2.0 -1.1 0.2 -0.3 :M/M-12 % -6.0 -3.5 -3.5 -4.0 -3.8 -2.6 -3.3 -5.2 -6.2 -4.8 -3.8 :

2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01Unemployment rate - total (1) % 10.0 9.8 9.7 9.6 9.4 9.2 9.1 9.0 8.9 8.8 8.8 8.6Unemployment rate - age <25 year (1) % 22.2 21.6 20.8 20.4 20.3 20.6 20.6 20.4 19.7 19.4 19.2 19.1

Unemployment rate - age >25 year (1) % 8.8 8.7 8.7 8.6 8.4 8.2 8.0 7.9 7.8 7.8 7.8 7.6

2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4Labour Cost Index Q/Q-1 % (2) 1.3 -0.1 0.4 0.2 : Q/Q-4 % (3) 0.2 0.3 1.0 1.8 : 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4Employment Q/Q-1 % (1) 0.7 0.8 0.9 0.6 : Q/Q-4 % 1.6 2.3 3.0 3.0 : 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01

Industrial productionM/M-1 % (2) 26.1 -9.6 2.7 -5.3 -3.1 8.9 0.1 -1.7 3.6 -0.8 -4.3 :M/M-12 % (3) 40.2 28.9 7.9 -3.0 28.5 23.9 18.3 18.6 13.8 12.7 18.5 :


Retail trade deflated turnoverM/M-1 % (2) 0.6 -0.3 3.4 -1.5 -0.2 1.0 0.6 0.7 -1.0 3.9 -1.2 :M/M-12 % 5.7 6.4 6.9 6.6 4.7 6.2 6.9 7.5 4.9 9.4 6.1 :



2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01

Economic sentiment indicator (1) index - - - - - - - - - - - -


(1) sa: Seasonally adjusted data(2) swda: Seasonally adjusted and adjusted data by working days(3) wda: Adjusted data by working days « : » not available data; « - » not existing dataThe set of indicators is selected from the PEEIs list (COM/2002/661) and complemented by certain Monetary and Financial Indicators as well as the Economic Sentiment Indicator.Indicator Source3 months Interest rate ECBLong term government bond yields ECBEuro-dollar exchange rate ECBEconomic Sentiment Indicator Directorate General for Economic and Financial Affairs (DG ECFIN)


Principal European Economic Indicators (PEEIs) 2Ireland




0.0

10.0

20.0

30.0

Growth rate

-20.0

-10.0

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

GDP (q/q-1) Industrial Production (m/m-1)

0 0

2.0

4.0

6.0

8.0

5 0

10.0

15.0

20.0

25.0


-4.0

-2.0

0.0

-5.0

0.0

5.0

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


0.0

1.0

2.0

3.0

10.0

11.0

12.0

13.0

Growth Rate %

-2.0

-1.0

0.0

8.0

9.0

0.0

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


0.0

1.0

2.0

3.0

Growth rate

-3.0

-2.0

-1.0

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


1500

2000

2500

3000

3500

millions euro

0

500

1000

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


1.200

1.300

1.400

1.500

2 0

3.0

4.0

5.0

6.0

€/$%

1.000

1.100

0.0

1.0

2.0

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




Detailed PEEIs analysis for GreeceIndicators Unit Reference Period 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4GDP (volume) Q/Q-1 % (1) -0.5 0.0 0.3 -0.9 : Q/Q-4 % 0.6 0.3 1.3 -0.9 :Private final consumption (volume) Q/Q-1 % (1) 0.5 -0.1 0.6 -0.8 : Q/Q-4 % 1.4 1.3 2.4 -0.6 :

Investment (GFCF) (volume) Q/Q-1 % (1) 5.4 -2.3 -8.9 -7.0 : Q/Q-4 % 4.4 13.3 -1.5 -13.6 : 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01External trade balance (extra euro area)(2) mn euro -762.7 -871.1 -991.7 -673.0 -879.6 -753.8 -823.3 -878.9 -903.0 -795.5 : :External trade balance (extra EU28) (2) mn euro -696.1 -753.4 -868.4 -537.5 -741.9 -734.2 -702.4 -785.0 -784.8 -645.9 : :

2014Q4 2015Q1 2015Q2 2015Q3 2015Q4BOP Current account (All countries of the world) mn euro -3821.0 -3214.0 -388.0 5559.0 :


M/M-1 % -0.2 1.9 0.4 -0.2 0.9 -1.2 -0.2 1.2 -0.2 -0.7 0.0 :M/M-12 % -1.9 -1.9 -1.8 -1.4 -1.1 -1.3 -0.4 -0.8 -0.1 -0.1 0.4 :

Industrial producer pricesM/M-1 % 3.5 0.7 -0.1 0.7 -0.4 -1.4 -3.2 -0.5 -0.5 0.1 -2.4 :M/M-12 % -3.1 -3.0 -4.4 -4.1 -4.8 -5.4 -8.4 -8.8 -8.0 -6.6 -5.7 :

2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01Unemployment rate - total (2) % 25.8 25.9 25.2 24.9 25.0 24.9 24.6 24.6 24.5 : : :Unemployment rate - age <25 year (2) % 52.5 52.2 51.5 50.1 48.2 48.6 48.2 49.1 48.6 : : :

Unemployment rate - age >25 year (2) % 24.1 24.3 23.6 23.3 23.5 23.4 23.2 23.1 23.0 : : :

2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4Labour Cost Index Q/Q-1 % (1) -2.3 0.3 -3.8 : : Q/Q-4 % (3) 3.5 1.0 -2.9 : : 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4Employment Q/Q-1 % (2) 0.1 0.0 1.4 0.3 : Q/Q-4 % 1.3 0.6 2.4 1.9 : 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01

Industrial productionM/M-1 % (1) 3.0 0.4 -1.9 -5.6 -0.2 3.9 3.7 -1.8 -1.2 3.3 : :M/M-12 % (3) 1.4 4.7 0.4 -4.6 -4.8 -1.6 4.3 2.9 -1.9 1.8 : :


Retail trade deflated turnoverM/M-1 % (1) -1.1 1.7 -0.7 1.5 -1.4 -4.2 3.6 -1.5 0.7 -1.7 : :M/M-12 % -1.7 1.0 -1.8 4.1 -0.4 -7.2 -2.1 -3.3 -2.4 -4.5 : :



2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01


2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M013-month interest rate % - - - - - - - - - - - -Long term government bond yields % 9.72 10.52 12.00 10.95 11.43 : 10.26 8.54 7.81 7.41 8.21 :



Principal European Economic Indicators (PEEIs) 2Greece




85

90

95

100

105

2 0

0.0

2.0

4.0

6.0

IndexGrowth rate

75

80

85

-6.0

-4.0

-2.0

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


0.0

2.0

4.0

6.0

8.0

0.0

5.0

10.0

15.0

20.0


-6.0

-4.0

-2.0

-15.0

-10.0

-5.0

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


0.0

2.0

4.0

6.0

25.0

25.5

26.0

26.5

Growth Rate%

-4.0

-2.0

0.0

24.0

24.5

25.0

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


1

0

1

2

3

4

Growth Rate

-4

-3

-2

-1

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


0

2000

4000

6000millions euro

-4000

-2000

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


1.200

1.300

1.400

6 0

8.0

10.0

12.0

€/$%

1.000

1.100

2.0

4.0

6.0

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




Detailed PEEIs analysis for SpainIndicators Unit Reference Period 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4GDP (volume) Q/Q-1 % (1) 0.7 0.9 1.0 0.8 : Q/Q-4 % 1.8 2.6 3.4 3.4 :Private final consumption (volume) Q/Q-1 % (1) 0.8 0.7 0.9 1.0 : Q/Q-4 % 1.5 2.5 2.8 3.5 :

Investment (GFCF) (volume) Q/Q-1 % (1) 1.4 1.5 2.4 1.1 : Q/Q-4 % 3.7 6.1 7.1 6.9 : 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01External trade balance (extra euro area)(2) mn euro -1740.1 -1425.2 -1792.7 -1313.6 -1913.0 -1421.6 -2091.4 -1532.2 -1328.6 -1294.7 : :External trade balance (extra EU28) (2) mn euro -1975.0 -1695.8 -2116.2 -1603.7 -1877.5 -1795.0 -2085.3 -1991.4 -1785.1 -1820.0 : :



M/M-1 % 0.1 2.0 0.7 0.4 0.2 -1.5 -0.4 0.4 0.3 0.2 -0.4 :M/M-12 % -1.2 -0.8 -0.7 -0.3 0.0 0.0 -0.5 -1.1 -0.9 -0.4 -0.1 :

Industrial producer pricesM/M-1 % 0.2 0.5 0.5 0.3 0.9 0.1 -1.7 -0.9 -0.8 -0.1 -0.7 :M/M-12 % -1.6 -1.3 -0.9 -1.4 -1.4 -1.3 -2.2 -3.6 -3.6 -2.6 -2.2 :



2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4Labour Cost Index Q/Q-1 % (1) -0.1 0.5 0.0 -0.1 : Q/Q-4 % (3) 0.2 1.2 0.5 0.3 : 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4Employment Q/Q-1 % (1) 0.7 0.7 0.9 0.6 : Q/Q-4 % 2.3 2.9 2.9 3.0 : 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01

Industrial productionM/M-1 % (1) 0.8 1.2 -0.2 0.4 0.7 0.7 -1.3 1.4 0.3 0.0 : :M/M-12 % (3) 1.1 3.7 1.7 2.8 4.7 5.6 2.3 4.2 4.9 4.6 : :

Production in constructionM/M-1 % (1) -1.6 -1.0 1.7 -0.5 0.2 0.1 0.1 0.8 1.1 -1.3 : :M/M-12 % 0.8 -7.0 3.2 -2.7 -2.3 0.5 -2.6 1.7 8.2 -1.2 : :

Retail trade deflated turnoverM/M-1 % (1) -0.4 0.2 0.9 0.2 -0.3 0.8 0.4 0.7 0.3 -0.2 0.1 :M/M-12 % 2.5 3.1 4.0 3.2 2.2 4.1 3.1 4.7 6.1 3.3 2.3 :



2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01





Principal European Economic Indicators (PEEIs) 2Spain




105

110

115

120

0.0

2.0

4.0

6.0

IndexGrowth rate

95

100

-4.0

-2.0

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


0.0

1.0

2.0

0.0

2.0

4.0


-2.0

-1.0

-4.0

-2.0

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


0.0

1.0

2.0

3.0

22.0

23.0

24.0

25.0Growth Rate %

-2.0

-1.0

0.0

20.0

21.0

22.0

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


0.0

0.5

1.0

1.5

2.0

2.5

Growth Rate

-2.0

-1.5

-1.0

-0.5

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


1000

2000

3000

4000

5000

6000

7000millions euro

-3000

-2000

-1000

0

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


1.200

1.300

1.400

3.0

4.0

5.0

€/$%

1.000

1.100

1.0

2.0

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




Detailed PEEIs analysis for FranceIndicators Unit Reference Period 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4GDP (volume) Q/Q-1 % (1) 0.1 0.7 0.0 0.3 0.2 Q/Q-4 % 0.2 1.1 1.2 1.1 1.3Private final consumption (volume) Q/Q-1 % (1) 0.3 0.7 0.0 0.4 -0.3 Q/Q-4 % 0.7 2.0 1.3 1.6 0.7

Investment (GFCF) (volume) Q/Q-1 % (1) -0.4 0.3 -0.1 0.1 0.8 Q/Q-4 % -1.7 -0.8 -0.3 0.0 1.4 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01External trade balance (extra euro area)(2) mn euro 2649.8 688.8 2613.0 2637.7 3042.2 2622.6 3017.3 2398.5 2002.6 2150.8 : :




M/M-1 % 0.7 0.7 0.1 0.2 -0.1 -0.5 0.4 -0.4 0.1 -0.2 0.2 :M/M-12 % -0.3 0.0 0.1 0.3 0.3 0.2 0.1 0.1 0.2 0.1 0.3 :

Industrial producer pricesM/M-1 % 1.0 0.0 -0.3 -0.5 0.2 -0.2 -1.0 0.0 0.1 0.2 -1.2 :M/M-12 % -2.3 -1.9 -1.7 -1.7 -1.6 -1.5 -2.2 -2.7 -2.6 -2.4 -2.7 :




Industrial productionM/M-1 % (1) 0.6 0.0 -1.0 0.3 0.2 -0.9 1.8 0.1 0.7 -0.9 : :M/M-12 % (3) 1.7 1.7 0.4 2.5 1.1 -1.4 1.8 1.1 3.6 2.8 : :

Production in constructionM/M-1 % (1) -1.8 1.0 -1.1 0.9 -1.7 0.5 1.1 -1.7 0.5 0.2 : :M/M-12 % -7.2 -5.3 -6.0 -2.4 -5.6 -4.2 -7.9 -2.7 -2.4 -0.9 : :

Retail trade deflated turnoverM/M-1 % (1) 0.8 -0.6 0.7 0.4 0.5 0.0 0.4 -0.2 -0.5 -0.6 1.3 :M/M-12 % 3.3 1.6 3.2 3.1 3.5 4.4 3.3 3.8 2.8 1.0 1.7 :



2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01





Principal European Economic Indicators (PEEIs) 2France




90

95

100

105

110

1 0

0.0

1.0

2.0

3.0

IndexGrowth rate

80

85

90

-3.0

-2.0

-1.0

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


1 0

0.0

1.0

2.0

3.0

0 5

0.0

0.5

1.0

1.5


-3.0

-2.0

-1.0

-1.5

-1.0

-0.5

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


0.0

1.0

2.0

3.0

10.0

10.5

11.0

11.5

Growth Rate %

-2.0

-1.0

0.0

9.0

9.5

10.0

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


0.0

0.5

1.0

1.5

Growth Rate

-1.5

-1.0

-0.5

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


0

1000

2000

3000

4000

millions euro

-3000

-2000

-1000

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


1.200

1.300

1.400

1.500

1.0

1.5

2.0

2.5

€/$%

1.000

1.100

1.200

0.0

0.5

1.0

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




Detailed PEEIs analysis for CroatiaIndicators Unit Reference Period 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4GDP (volume) Q/Q-1 % (1) 0.1 0.3 1.0 1.3 : Q/Q-4 % 0.2 0.5 1.2 2.8 :Private final consumption (volume) Q/Q-1 % (1) 0.1 0.8 0.3 0.3 : Q/Q-4 % -0.5 0.4 0.6 1.4 :

Investment (GFCF) (volume) Q/Q-1 % (1) -1.7 2.3 0.3 1.2 : Q/Q-4 % -4.1 -0.4 0.8 2.2 : 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01External trade balance (extra EU28) (2) mn euro -57.9 -25.0 -41.2 -18.5 9.1 -58.0 13.0 -3.5 56.0 10.2 : :

2014Q4 2015Q1 2015Q2 2015Q3 2015Q4BOP Current account (All countries of the world) mn euro -591.8 -1265.1 11.4 3884.9 :


M/M-1 % 0.1 0.8 0.4 0.6 0.3 -0.2 0.2 -0.6 -0.3 -0.6 -0.6 :M/M-12 % -0.4 0.0 -0.1 0.0 0.1 -0.2 -0.1 -0.5 -0.5 -0.4 -0.3 :

Industrial producer pricesM/M-1 % 1.3 1.2 -0.6 0.6 -0.4 -0.5 -1.4 -0.6 0.0 -0.6 -1.3 :M/M-12 % -4.1 -2.7 -3.1 -2.6 -2.8 -3.4 -4.1 -4.8 -4.5 -4.3 -4.4 :



2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4Labour Cost Index Q/Q-1 % (1) -0.1 1.3 1.0 -1.8 : Q/Q-4 % (3) -0.7 2.3 3.0 0.1 : 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4Employment Q/Q-1 % (1) -0.9 1.3 0.1 -0.6 : Q/Q-4 % 1.6 2.2 2.2 -0.3 : 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01

Industrial productionM/M-1 % (1) 3.4 2.4 -3.9 2.6 -2.7 3.2 -3.7 5.5 0.9 -0.8 -1.2 :M/M-12 % (3) 1.8 3.5 1.2 4.4 1.5 3.9 2.7 5.5 6.4 2.7 0.9 :


Retail trade deflated turnoverM/M-1 % (1) -0.5 0.4 1.3 0.4 -0.5 1.7 -0.6 0.0 0.9 1.4 : :M/M-12 % 1.8 0.9 3.7 4.6 2.1 6.1 2.4 1.3 3.7 4.9 : :

2014Q4 2015Q1 2015Q2 2015Q3 2015Q4General government deficit (-)/ surplus (+) % -6.0 -7.7 -4.0 0.2 :


2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01



Croatian kuna exchange rates against the euro Average 7.71 7.65 7.59 7.56 7.57 7.59 7.56 7.59 7.62 7.61 7.64 7.66

((1) swda: Seasonally adjusted and adjusted data by working days(2) sa: Seasonally adjusted data(3) wda: Adjusted data by working days « : » not available data; « - » not existing dataThe set of indicators is selected from the PEEIs list (COM/2002/661) and complemented by certain Monetary and Financial Indicators as well as the Economic Sentiment Indicator.Indicator SourceCurrent account European Central Bank (ECB) for euro area only3 months Interest rate ECBLong term government bond yields ECBEuro-dollar exchange rate ECBEconomic Sentiment Indicator Directorate General for Economic and Financial Affairs (DG ECFIN)


Principal European Economic Indicators (PEEIs) 2Croatia




115

120

125

130

0.0

3.0

6.0

IndexGrowth rate

105

110

-6.0

-3.0

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


-1.0

0.0

1.0

2.0

0.0

1.0

2.0

3.0


-3.0

-2.0

-2.0

-1.0

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


0.0

1.0

2.0

3.0

16.0

17.0

18.0

19.0

Growth Rate %

-2.0

-1.0

0.0

14.0

15.0

16.0

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

Employment (q/q-1) Unemployment rate Total (%)

0.0

1.0

2.0

3.0

Growth Rate

-3.0

-2.0

-1.0

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


1000

2000

3000

4000

millions euro

-2000

-1000

0

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


7.50

7.60

7.70

7.80

3.0

4.0

5.0

6.0

Pound Sterling/€%

7.30

7.40

0.0

1.0

2.0

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


Croatian exchange rates against the euro



Detailed PEEIs analysis for ItalyIndicators Unit Reference Period 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4GDP (volume) Q/Q-1 % (1) -0.1 0.4 0.3 0.2 : Q/Q-4 % -0.6 0.2 0.9 0.9 :Private final consumption (volume) Q/Q-1 % (1) 0.2 0.1 0.4 0.4 : Q/Q-4 % 0.5 0.4 0.6 1.1 :

Investment (GFCF) (volume) Q/Q-1 % (1) 0.1 1.2 -0.1 -0.4 : Q/Q-4 % -3.0 0.3 0.9 0.5 : 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01External trade balance (extra euro area) (2) mn euro 4727.0 4155.5 3996.4 3902.1 2981.1 4581.2 3430.6 3846.2 3777.2 4282.9 : :




M/M-1 % 0.3 2.1 0.4 0.2 0.2 -2.0 -0.1 1.6 0.5 -0.4 -0.1 :M/M-12 % 0.1 0.0 -0.1 0.2 0.2 0.3 0.4 0.2 0.3 0.2 0.1 :

Industrial producer pricesM/M-1 % 0.6 0.0 -0.2 0.3 -0.2 -0.5 -0.6 -0.3 -0.3 -0.5 -0.7 :M/M-12 % -3.2 -3.0 -3.0 -2.6 -3.0 -3.0 -3.5 -3.9 -3.7 -4.1 -4.0 :


Unemployment rate - age >25 year (2) % 10.4 10.4 10.4 10.4 10.4 9.9 9.9 9.9 : : : :

2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4Labour Cost Index Q/Q-1 % (1) - - - - - Q/Q-4 % (3) - - - - - 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4Employment Q/Q-1 % (1) 0.1 0.1 0.3 0.4 : Q/Q-4 % 0.6 0.5 0.6 0.9 : 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01

Industrial productionM/M-1 % (1) 0.7 0.5 -0.3 0.9 -1.0 1.1 -0.5 0.2 0.5 -0.5 : :M/M-12 % (3) -0.1 1.4 0.1 3.1 -0.3 2.8 1.0 1.8 3.0 0.9 : :

Production in constructionM/M-1 % (1) -2.0 0.0 0.4 -0.4 -0.9 0.7 0.0 -0.9 -0.2 2.9 : :M/M-12 % -2.1 -4.5 -3.2 -2.6 -2.4 -0.4 -4.0 -1.0 -3.9 3.8 : :

Retail trade deflated turnoverM/M-1 % (1) -0.3 0.2 0.5 -0.1 0.0 0.6 0.3 -0.4 -0.5 0.7 : :M/M-12 % 1.3 1.8 1.9 1.7 1.2 2.5 3.5 2.2 0.9 1.5 : :



2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01





Principal European Economic Indicators (PEEIs) 2Italy




95

100

105

110

115

1 0

0.0

1.0

2.0

3.0

IndexGrowth rate

85

90

95

-3.0

-2.0

-1.0

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


0.0

1.0

2.0

1.0

2.0

3.0


-2.0

-1.0

-1.0

0.0

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


-0.5

0.0

0.5

1.0

11.5

12.0

12.5

13.0

Growth Rate %

-1.5

-1.0

0.5

10.5

11.0

11.5

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


-0.5

0.0

0.5

1.0

1.5

2.0

2.5

Growth rate

-2.5

-2.0

-1.5

-1.0

0.5

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


6000

8000

10000

12000

14000millions euro

0

2000

4000

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


1.200

1.300

1.400

1.500

3.0

4.0

5.0

6.0

€/$%

1.000

1.100

. 00

1.0

2.0

3.0

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




Detailed PEEIs analysis for CyprusIndicators Unit Reference Period 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4GDP (volume) Q/Q-1 % (1) 0.0 1.3 0.5 0.4 : Q/Q-4 % -1.8 0.2 1.2 2.3 :Private final consumption (volume) Q/Q-1 % (1) -0.5 1.3 0.7 0.5 : Q/Q-4 % 0.2 1.3 1.4 2.4 :

Investment (GFCF) (volume) Q/Q-1 % (1) -24.5 30.4 -14.5 7.3 : Q/Q-4 % -0.4 40.1 22.4 -1.3 : 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01External trade balance (extra euro area) (2) mn euro -73.1 -60.4 -115.4 -66.9 -117.3 -87.4 -70.7 -78.4 -101.9 -66.4 : :


2014Q4 2015Q1 2015Q2 2015Q3 2015Q4BOP Current account (All countries of the world) mn euro -208.0 -658.0 -95.0 73.0 :


M/M-1 % 0.5 0.7 0.3 1.1 0.3 -0.6 0.7 -0.6 -0.2 -1.2 -0.6 :M/M-12 % -0.8 -1.4 -1.7 -1.7 -2.1 -2.4 -1.9 -1.9 -1.8 -1.5 -0.6 :

Industrial producer pricesM/M-1 % -0.2 -3.1 -0.5 0.3 -0.2 0.9 0.0 -0.8 0.0 -1.9 -0.2 :M/M-12 % -2.3 -5.4 -5.8 -6.2 -6.2 -6.5 -6.6 -6.7 -6.7 -6.7 -7.0 :



2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4Labour Cost Index Q/Q-1 % (2) -0.1 0.0 -0.1 -0.1 : Q/Q-4 % (3) -1.8 -1.6 -0.5 -0.5 : 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4Employment Q/Q-1 % (2) - - - - - Q/Q-4 % 0.8 0.9 0.4 0.8 : 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01

Industrial productionM/M-1 % (2) 1.8 0.3 2.1 0.7 -2.3 1.8 1.1 -0.8 -1.1 1.5 : :M/M-12 % (3) 1.4 0.3 4.8 5.0 0.0 3.7 3.4 5.1 2.6 6.4 : :


Retail trade deflated turnoverM/M-1 % (2) -0.9 0.8 0.9 0.6 -1.2 1.6 -0.3 0.9 -1.2 -0.2 : :M/M-12 % 2.7 -0.3 1.7 3.8 0.5 4.2 2.8 5.9 3.0 1.3 : :



2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01



(1) sa: Seasonally adjusted data(2) swda: Seasonally adjusted and adjusted data by working days(3) wda: Adjusted data by working days « : » not available data; « - » not existing dataThe set of indicators is selected from the PEEIs list (COM/2002/661) and complemented by certain Monetary and Financial Indicators as well as the Economic Sentiment Indicator.Indicator Source3 months Interest rate ECBLong term government bond yields ECBEuro-dollar exchange rate ECBEconomic Sentiment Indicator Directorate General for Economic and Financial Affairs (DG ECFIN)


Principal European Economic Indicators (PEEIs) 2Cyprus




90

95

100

105

110

3 0

0.0

3.0

6.0

9.0

IndexGrowth rate

80

85

90

-9.0

-6.0

-3.0

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


-2.0

0.0

2.0

4.0

0.0

30.0

60.0

90.0


-6.0

-4.0

-60.0

-30.0

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


-2.0

0.0

2.0

4.0

15.0

16.0

17.0

18.0

Growth Rate %

-6.0

-4.0

2.0

13.0

14.0

15.0

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


-1.5

-1.0

-0.5

0.0

0.5

1.0

1.5

Growth Rate

-3.5

-3.0

-2.5

-2.0

1.5

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


-300

-200

-100

0

100

200

millions euro

-700

-600

-500

-400

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


1.200

1.300

1.400

€/$

1.000

1.100

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

Euro-dollar exchange rate



Detailed PEEIs analysis for LatviaIndicators Unit Reference Period 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4GDP (volume) Q/Q-1 % (1) 0.4 0.6 1.3 1.0 : Q/Q-4 % 2.1 1.8 2.7 3.3 :Private final consumption (volume) Q/Q-1 % (1) 0.9 1.1 1.1 1.7 : Q/Q-4 % 2.0 3.1 2.4 5.2 :

Investment (GFCF) (volume) Q/Q-1 % (1) 1.8 -0.6 3.2 1.2 : Q/Q-4 % 0.1 -1.0 2.9 6.0 : 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01External trade balance (extra euro area) (1) mn euro 9.4 29.5 48.4 10.1 16.8 34.5 -18.3 36.6 20.1 43.8 : :


2014Q4 2015Q1 2015Q2 2015Q3 2015Q4BOP Current account (All countries of the world) mn euro -44.0 -52.0 -148.0 -190.0 :


M/M-1 % 0.4 0.8 0.6 0.8 -0.1 -1.1 -0.4 -0.2 0.0 -0.1 -0.3 :M/M-12 % 0.0 0.5 0.6 1.2 0.7 -0.2 0.2 -0.4 -0.1 0.0 0.4 :

Industrial producer pricesM/M-1 % -0.1 -0.7 -0.1 -0.1 0.1 -0.4 -0.5 -0.5 -0.5 0.2 -0.3 :M/M-12 % 0.0 -0.4 -1.3 -0.3 -0.7 -1.5 -2.1 -2.7 -2.8 -2.3 -2.5 :



2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4Labour Cost Index Q/Q-1 % (1) 1.9 2.4 1.5 1.7 : Q/Q-4 % (3) 6.1 7.3 7.3 7.4 : 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4Employment Q/Q-1 % (1) 0.2 1.7 0.1 0.3 : Q/Q-4 % -1.2 -0.1 0.6 2.4 : 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01

Industrial productionM/M-1 % (1) 0.8 10.7 0.1 -2.1 -1.3 1.3 -1.3 -0.7 -0.2 0.2 -1.2 :M/M-12 % (3) -1.7 8.7 7.6 4.2 3.7 5.4 4.0 2.0 1.9 4.5 2.6 :


Retail trade deflated turnoverM/M-1 % (1) 1.2 0.8 -0.3 -0.8 0.6 0.6 0.0 -0.7 1.4 -3.1 0.8 :M/M-12 % 9.1 6.7 3.8 5.3 7.0 4.5 5.8 4.5 5.6 -0.6 2.0 :

2014Q4 2015Q1 2015Q2 2015Q3 2015Q4General government deficit (-)/ surplus (+) % -10.1 1.1 1.1 0.4 :


2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01





Principal European Economic Indicators (PEEIs) 2Latvia




95

100

105

110

0.0

5.0

10.0

15.0

IndexGrowth rate

85

90

-10.0

-5.0

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


0.0

2.0

4.0

6.0

0.0

2.0

4.0

6.0


-4.0

-2.0

-4.0

-2.0

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


0.0

1.0

2.0

3.0

10.0

10.5

11.0

11.5Growth Rate %

-2.0

-1.0

9.0

9.5

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


-0.5

0.0

0.5

1.0Growth Rate

-1.5

-1.0

0.5

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


-100

-50

0

50

100

millions euro

-250

-200

-150

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


1.200

1.300

1.400

2.0

3.0

4.0

€/$%

1.000

1.100

0.0

1.0

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




Detailed PEEIs analysis for LithuaniaIndicators Unit Reference Period 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4GDP (volume) Q/Q-1 % (1) 0.2 0.7 0.4 0.5 0.5 Q/Q-4 % 1.7 1.3 1.4 1.7 2.0Private final consumption (volume) Q/Q-1 % (1) 1.7 0.5 1.7 1.4 : Q/Q-4 % 4.6 4.8 7.3 5.7 :

Investment (GFCF) (volume) Q/Q-1 % (1) -0.4 6.6 4.5 1.3 : Q/Q-4 % 1.6 6.3 14.6 9.8 : 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01External trade balance (extra EU28) (2) mn euro 39.0 -33.3 7.6 -12.3 -48.0 14.7 22.8 33.4 108.4 218.8 : :

2014Q4 2015Q1 2015Q2 2015Q3 2015Q4BOP Current account (All countries of the world) mn euro 633.7 -355.1 -517.8 -173.8 :


M/M-1 % -0.1 0.8 0.7 0.6 -0.2 -0.5 -0.9 0.6 0.5 -0.2 -0.4 :M/M-12 % -1.5 -1.1 -0.6 -0.1 -0.2 -0.2 -1.0 -0.8 -0.4 -0.5 -0.3 :

Industrial producer pricesM/M-1 % 0.6 -0.3 0.3 -0.3 -1.3 -0.2 -1.6 -1.1 -0.7 0.0 -0.9 :M/M-12 % -9.1 -9.1 -8.7 -7.9 -8.4 -8.3 -9.6 -10.5 -10.5 -9.1 -8.1 :



2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4Labour Cost Index Q/Q-1 % (1) 1.9 1.1 0.9 1.9 : Q/Q-4 % (3) 5.2 5.9 4.3 5.7 : 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4Employment Q/Q-1 % (1) 0.2 0.6 -0.1 0.2 : Q/Q-4 % 1.9 1.7 2.1 0.1 : 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01

Industrial productionM/M-1 % (1) 6.3 -3.8 3.4 1.9 0.5 0.7 -3.4 -1.5 10.7 -2.0 -3.3 :M/M-12 % (3) 5.8 6.3 2.9 3.3 7.5 6.6 5.5 -0.1 6.7 5.7 3.5 :


Retail trade deflated turnoverM/M-1 % (1) 1.1 1.3 0.4 0.2 0.9 0.0 0.0 0.2 0.6 -0.1 0.3 :M/M-12 % 5.5 5.6 5.4 5.0 7.6 5.5 6.2 6.1 6.7 4.7 4.1 :



2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01





Principal European Economic Indicators (PEEIs) 2Lithuania




95

100

105

110

115

4 0

0.0

4.0

8.0

12.0

IndexGrowth rate

85

90

95

-12.0

-8.0

-4.0

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


0.0

1.0

2.0

3.0

0.0

10.0

20.0

30.0


-2.0

-1.0

-20.0

-10.0

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


-1

0

1

1

Growth Rate

-2

-2

-1

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


-200

-100

0

100

200

300

millions euro

-600

-500

-400

-300

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


1.200

1.300

1.400

1.500

4.0

6.0

8.0

10.0

Lithuanian Litas/€%

1.000

1.100

0.0

2.0

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

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

1.0

2.0

3.0

4.0

9.5

10.0

10.5

11.0

Growth Rate %

-2.0

-1.0

0.0

8.0

8.5

9.0

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




Detailed PEEIs analysis for LuxembourgIndicators Unit Reference Period 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4GDP (volume) Q/Q-1 % (1) 3.2 -0.2 1.4 0.9 : Q/Q-4 % 6.7 5.5 6.2 5.5 :Private final consumption (volume) Q/Q-1 % (1) 2.1 -3.6 1.7 0.4 : Q/Q-4 % 4.3 -0.8 0.2 0.6 :

Investment (GFCF) (volume) Q/Q-1 % (1) 4.9 0.6 -11.9 8.1 : Q/Q-4 % 22.2 5.3 -0.7 0.9 : 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01External trade balance (extra euro area) (2) mn euro -150.5 -440.0 -229.2 -110.5 -240.1 -165.2 -183.3 -347.6 -119.4 -122.7 : :




M/M-1 % 2.0 0.4 0.1 0.5 0.2 -1.3 0.8 -0.3 -0.2 0.1 -0.5 :M/M-12 % -0.3 0.1 0.0 0.4 0.5 0.2 0.1 -0.2 -0.1 0.4 0.9 :

Industrial producer pricesM/M-1 % 0.4 -0.1 0.1 0.1 -0.1 -0.7 -0.6 -0.1 -0.1 -0.5 -0.5 :M/M-12 % 1.1 1.1 0.8 0.7 0.6 0.6 -1.8 -1.6 -1.9 -2.4 -2.8 :



2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4Labour Cost Index Q/Q-1 % (1) -1.9 1.6 0.8 -0.7 : Q/Q-4 % (3) -0.2 0.6 1.2 -0.4 : 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4Employment Q/Q-1 % (1) 0.7 0.6 0.7 0.6 : Q/Q-4 % 2.6 2.4 2.5 2.6 : 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01

Industrial productionM/M-1 % (1) 2.5 0.1 -1.7 -1.6 1.4 -2.3 4.1 -3.0 2.0 3.3 : :M/M-12 % (3) 3.9 3.0 2.3 -1.3 1.5 -4.0 3.8 -2.5 1.7 4.9 : :

Production in constructionM/M-1 % (1) -4.0 4.3 -3.2 -5.0 4.6 4.3 -7.7 3.8 0.1 -4.1 : :M/M-12 % -9.7 2.6 -1.1 -5.9 4.1 9.3 -14.6 -1.4 -0.9 -6.2 : :

Retail trade deflated turnoverM/M-1 % (1) 1.3 1.9 -1.8 2.1 1.3 2.4 0.2 1.1 -1.2 -1.4 1.1 :M/M-12 % -0.7 4.3 -3.0 1.5 4.6 12.8 12.5 14.5 9.3 3.6 3.7 :

2014Q4 2015Q1 2015Q2 2015Q3 2015Q4General government deficit (-)/ surplus (+) % 1.2 -1.3 2.6 -2.0 :


2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01


2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M013-month interest rate % - - - - - - - - - - - -Long term government bond yields ** % 0.40 0.16 0.06 0.42 0.65 0.56 0.45 0.43 0.31 0.25 0.27 :

(1) swda: Seasonally adjusted and adjusted data by working days(2) sa: Seasonally adjusted data(3) wda: Adjusted data by working days « : » not available data; « - » not existing dataThe set of indicators is selected from the PEEIs list (COM/2002/661) and complemented by certain Monetary and Financial Indicators as well as the Economic Sentiment Indicator.Indicator Source3 months Interest rate ECBLong term government bond yields ECBEuro-dollar exchange rate ECBEconomic Sentiment Indicator Directorate General for Economic and Financial Affairs (DG ECFIN)** “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


Principal European Economic Indicators (PEEIs) 2Luxembourg




85

90

95

100

-3.0

0.0

3.0

6.0

IndexGrowth rate

75

80

-9.0

-6.0

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


0.0

4.0

8.0

0.0

10.0

20.0


-8.0

-4.0

-20.0

-10.0

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


0.0

1.0

2.0

3.0

5.8

6.0

6.2

6.4

Growth Rate %

-2.0

-1.0

5.4

5.6

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


0

1

1

2

2

3

Growth Rate

-2

-1

-1

0

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


200

400

600

800

1000

1200millions euro

-600

-400

-200

0

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


1.200

1.300

1.400

1.500

1.00

1.50

2.00

2.50

€/$%

1.000

1.100

1.200

0.00

0.50

1.00

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




Detailed PEEIs analysis for HungaryIndicators Unit Reference Period 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4GDP (volume) Q/Q-1 % (1) 0.7 0.5 0.5 0.6 : Q/Q-4 % 3.3 3.5 2.7 2.4 :Private final consumption (volume) Q/Q-1 % (1) 1.5 0.5 0.6 0.4 : Q/Q-4 % 2.9 3.0 2.7 2.7 :

Investment (GFCF) (volume) Q/Q-1 % (1) -1.2 -0.7 1.6 -0.8 : Q/Q-4 % 1.4 -5.5 5.0 -1.5 : 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01External trade balance (extra EU28) (2) mn euro -251.5 -271.0 -258.4 -323.0 -217.2 -245.3 -340.8 -351.9 -334.7 -361.3 : :



M/M-1 % 0.5 0.6 0.4 0.7 0.2 0.0 -0.6 -0.6 0.3 0.0 -0.3 :M/M-12 % -1.0 -0.5 0.0 0.6 0.7 0.5 0.1 -0.1 0.2 0.6 1.0 :

Industrial producer pricesM/M-1 % 0.0 0.8 -0.4 1.6 0.5 -0.6 -1.2 -0.2 -0.7 -0.1 -0.5 :M/M-12 % -4.6 -3.4 -3.6 -1.2 -1.1 -1.8 -3.2 -3.7 -3.7 -3.1 -2.7 :

2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01Unemployment rate - total (2) % 7.4 7.3 7.1 7.0 6.9 6.8 6.5 6.5 6.4 6.3 : :Unemployment rate - age <25 year (2) % 19.2 19.3 18.6 18.5 17.8 17.6 15.9 15.7 15.0 15.7 : :

Unemployment rate - age >25 year (2) % 6.5 6.4 6.1 6.0 6.0 5.9 5.8 5.8 5.7 5.6 : :


Industrial productionM/M-1 % (1) -0.8 2.5 0.1 -0.1 1.1 -0.5 -1.8 2.9 1.7 -1.4 : :M/M-12 % (3) 5.9 8.8 6.3 6.4 5.9 3.6 6.2 7.8 12.8 7.1 : :

Production in constructionM/M-1 % (1) 1.9 7.4 -2.9 -3.7 -0.2 -4.0 -2.8 8.1 -7.5 3.6 : :M/M-12 % 3.7 13.9 9.3 1.4 9.5 -1.9 -6.8 8.1 -7.8 -0.2 : :

Retail trade deflated turnoverM/M-1 % (1) -0.1 0.0 0.1 0.5 0.6 0.5 -0.3 0.5 0.4 0.4 0.3 :M/M-12 % 6.5 5.2 5.0 5.4 6.2 6.8 4.7 5.1 4.7 4.3 4.5 :



2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01



Hungarian forint exchange rates against the euro Average 306.88 303.45 299.43 306.33 311.96 311.53 311.61 313.14 311.27 312.27 314.40 314.68



Principal European Economic Indicators (PEEIs) 2Hungary




110

120

130

0.0

3.0

6.0

IndexGrowth rate

90

100

-6.0

-3.0

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


0.0

2.0

4.0

0.0

2.0

4.0


-4.0

-2.0

-4.0

-2.0

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


0.0

1.0

2.0

3.0

8.0

9.0

10.0

11.0

Growth Rate %

-2.0

-1.0

6.0

7.0

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


0.0

0.5

1.0

1.5

2.0

Growth Rate

-1.5

-1.0

-0.5

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


1000

2000

3000millions euro

-1000

0

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


275

290

305

320

4.0

6.0

8.0

Hungarian forin/€%

245

260

275

0.0

2.0

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


Hungarian forint exchange rates against the euro



Detailed PEEIs analysis for MaltaIndicators Unit Reference Period 2014Q3 2014Q4 2015Q1 2015Q2 2015Q3 2014Q3 2014Q4 2015Q1 2015Q2 2015Q3GDP (volume) Q/Q-1 % (1) 1.1 2.3 0.7 1.4 1.1 Q/Q-4 % 3.4 5.8 5.2 5.8 5.4Private final consumption (volume) Q/Q-1 % (1) 0.7 1.4 1.0 0.4 0.8 Q/Q-4 % 3.0 3.5 5.6 2.5 5.1

Investment (GFCF) (volume) Q/Q-1 % (1) 0.6 22.1 -1.9 6.7 9.1 Q/Q-4 % 3.1 12.2 0.3 28.4 39.7 2015M01 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12External trade balance (extra euro area) (2) mn euro -15.1 -218.0 -144.0 27.7 -101.8 -154.2 -123.4 -94.8 -74.5 -18.0 : :

External trade balance (extra EU28) (2) mn euro 21.6 -193.3 -101.9 77.6 -46.1 -100.2 -66.2 -67.1 -27.6 13.1 : :

2014Q3 2014Q4 2015Q1 2015Q2 2015Q3BOP Current account (All countries of the world) mn euro 130.9 12.0 -23.3 246.1 :


M/M-1 % -1.1 0.5 0.9 2.8 0.9 1.0 0.0 0.3 -0.8 -0.6 -2.5 :M/M-12 % 0.8 0.6 0.5 1.4 1.3 1.1 1.2 1.4 1.6 1.6 1.3 :

Industrial producer pricesM/M-1 % 0.4 0.2 0.1 -4.4 0.1 0.0 0.0 -0.1 0.5 0.0 0.3 :M/M-12 % -2.1 -1.8 -1.8 -4.0 -3.9 -3.9 -3.9 -4.0 -3.4 -3.3 -3.0 :



2014Q3 2014Q4 2015Q1 2015Q2 2015Q3 2014Q3 2014Q4 2015Q1 2015Q2 2015Q3Labour Cost Index Q/Q-1 % (1) 1.7 0.7 -0.5 0.9 0.5 Q/Q-4 % (3) 2.2 4.1 1.9 2.5 1.4 2014Q3 2014Q4 2015Q1 2015Q2 2015Q3 2014Q3 2014Q4 2015Q1 2015Q2 2015Q3Employment Q/Q-1 % (1) - - - - - Q/Q-4 % 5.0 4.9 3.9 2.7 0.9 2015M01 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12

Industrial productionM/M-1 % (1) 6.7 -0.7 0.0 0.1 1.9 1.6 -1.5 -1.1 -0.1 1.8 -3.7 :M/M-12 % (3) 9.8 3.8 1.2 9.0 10.8 5.9 9.2 8.3 4.5 6.1 0.7 :


Retail trade deflated turnoverM/M-1 % (1) -0.9 -0.6 4.1 -2.0 1.7 -1.1 0.8 -1.2 0.2 0.0 0.3 :M/M-12 % 1.9 2.1 11.8 2.4 6.5 3.3 6.0 4.3 3.4 3.1 2.0 :

2014Q3 2014Q4 2015Q1 2015Q2 2015Q3General government deficit (-)/ surplus (+) % -2.1 4.0 -8.6 -2.2 :


2015M01 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12





Principal European Economic Indicators (PEEIs) 2Malta




105 0

110.0

115.0

120.0

125.0

3 0

0.0

3.0

6.0

9.0

Growth rate

95.0

100.0

105.0

-9.0

-6.0

-3.0

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


0.0

4.0

8.0

0.0

15.0

30.0


-8.0

-4.0

-30.0

-15.0

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


0.0

2.0

4.0

5.8

6.2

6.6

Growth Rate %

-4.0

-2.0

5.0

5.4

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


-2.0

0.0

2.0

4.0

Growth Rate

-6.0

-4.0

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


0

100

200

300

400millions euro

-300

-200

-100

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


1 200

1.300

1.400

1.500

2 0

2.5

3.0

3.5

€/$%

1.000

1.100

1.200

1.0

1.5

2.0

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




Detailed PEEIs analysis for NetherlandsIndicators Unit Reference Period 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4GDP (volume) Q/Q-1 % (1) 0.9 0.6 0.1 0.1 : Q/Q-4 % 1.6 2.5 1.8 1.9 :Private final consumption (volume) Q/Q-1 % (1) 0.8 0.6 0.3 0.0 : Q/Q-4 % 0.7 1.7 1.6 1.8 :

Investment (GFCF) (volume) Q/Q-1 % (1) 3.7 2.5 3.0 0.3 : Q/Q-4 % 4.4 8.1 12.5 10.3 : 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01External trade balance (extra euro area) (2) mn euro -6297.1 -7494.9 -7710.1 -7455.1 -6630.8 -6263.4 -6673.9 -6683.6 -6335.8 -6003.0 : :




M/M-1 % 0.8 1.3 0.8 0.2 -0.6 0.7 -0.5 -0.2 0.0 -0.8 -0.1 :M/M-12 % -0.5 -0.3 0.0 0.7 0.5 0.8 0.4 0.3 0.4 0.4 0.5 :

Industrial producer pricesM/M-1 % 1.7 1.5 0.5 -0.2 0.1 -0.5 -2.2 -0.6 -1.2 -0.5 -3.0 :M/M-12 % -9.0 -6.4 -5.7 -5.5 -5.6 -5.6 -7.4 -8.2 -8.5 -8.0 -7.7 :



2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4Labour Cost Index Q/Q-1 % (1) 1.1 -1.3 0.4 -0.1 : Q/Q-4 % (3) 4.3 0.8 1.1 0.0 : 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4Employment Q/Q-1 % (2) 0.3 0.0 0.3 0.3 : Q/Q-4 % 0.7 0.6 0.8 1.1 : 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01

Industrial productionM/M-1 % (1) 0.6 -4.4 -1.3 -5.0 4.2 -3.2 -3.3 2.7 3.9 -3.1 : :M/M-12 % (3) 6.1 1.5 -4.6 -7.1 -1.8 -6.3 -10.0 -5.9 -2.0 -8.0 : :

Production in constructionM/M-1 % (1) 0.0 2.8 -0.9 2.4 1.4 -1.8 -0.3 2.1 -0.9 0.2 : :M/M-12 % 4.4 13.2 8.6 16.5 18.0 12.7 8.1 10.5 3.9 2.6 : :

Retail trade deflated turnoverM/M-1 % (1) 0.4 -0.3 0.0 -0.1 0.6 -0.2 0.2 -0.2 0.1 0.0 : :M/M-12 % 3.2 2.3 1.8 1.7 3.2 2.4 1.4 3.7 1.9 0.5 : :

2014Q4 2015Q1 2015Q2 2015Q3 2015Q4General government deficit (-)/ surplus (+) % 0.0 -0.1 -3.8 -2.9 :


2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01





Principal European Economic Indicators (PEEIs) 2Netherlands




105

110

115

0.0

5.0

10.0

IndexGrowth rate

95

100

-10.0

-5.0

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


-1.0

0.0

1.0

2.0

0.0

2.0

4.0

6.0


-3.0

-2.0

-4.0

-2.0

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


-1.0

0.0

1.0

2.0

7.0

7.5

8.0

8.5

Growth Rate %

-3.0

-2.0

6.0

6.5

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


-1.0

0.0

1.0

2.0

Growth Rate

-4.0

-3.0

-2.0

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


5000

10000

15000

20000

25000

millions euro

-15000

-10000

-5000

0

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


1 200

1.300

1.400

1.500

1 0

1.5

2.0

2.5

€/$%

1.000

1.100

1.200

0.0

0.5

1.0

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




Detailed PEEIs analysis for AustriaIndicators Unit Reference Period 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4GDP (volume) Q/Q-1 % (1) -0.1 0.7 0.3 0.0 0.0 Q/Q-4 % -0.2 0.5 0.9 1.0 1.1Private final consumption (volume) Q/Q-1 % (1) -0.2 0.1 0.2 0.1 0.3 Q/Q-4 % 0.3 0.0 0.3 0.5 0.7

Investment (GFCF) (volume) Q/Q-1 % (1) 0.0 -0.2 0.9 0.7 -0.5 Q/Q-4 % -1.5 -1.5 0.1 1.5 0.8 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01External trade balance (extra euro area) (2) mn euro 1337.0 1387.5 1262.7 1353.3 1165.5 1163.2 1392.2 1090.9 1201.7 1037.9 : :




M/M-1 % 0.3 1.4 0.1 0.2 0.0 -0.5 -0.2 0.5 0.1 0.0 0.6 :M/M-12 % 0.5 0.9 0.9 1.0 1.0 1.1 0.9 0.6 0.7 0.5 1.1 :

Industrial producer pricesM/M-1 % 0.5 -0.1 -0.1 -0.1 -0.1 -0.2 -0.4 -0.3 -0.4 -0.3 -0.4 :M/M-12 % -1.8 -1.5 -1.6 -1.6 -1.7 -1.8 -1.9 -2.5 -2.7 -2.8 -2.6 :



2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4Labour Cost Index Q/Q-1 % (1) -0.4 1.2 0.3 -0.3 : Q/Q-4 % (3) 2.0 2.8 1.7 0.7 : 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4Employment Q/Q-1 % (1) 0.2 0.2 0.2 0.2 : Q/Q-4 % 0.8 0.6 0.6 0.6 : 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01

Industrial productionM/M-1 % (1) 0.5 -1.1 -0.2 0.0 0.7 1.4 -1.5 -0.4 2.2 -1.0 : :M/M-12 % (3) 2.0 2.4 0.6 1.8 -0.4 4.1 3.0 1.3 4.1 3.8 : :

Production in constructionM/M-1 % (1) -3.8 1.6 -1.3 -2.9 0.4 -0.2 0.3 -0.5 -2.2 3.3 : :M/M-12 % -6.2 -1.9 -2.7 -3.4 -3.6 -2.8 -1.3 -2.9 -5.9 -1.2 : :

Retail trade deflated turnoverM/M-1 % (1) 0.5 -1.0 0.4 -1.0 1.7 -0.4 -0.2 0.7 -0.4 -0.7 0.9 :M/M-12 % 2.2 1.2 1.6 0.8 1.9 2.4 0.7 2.0 2.0 1.1 1.1 :



2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01





Principal European Economic Indicators (PEEIs) 2Austria




80

90

100

110

0.0

2.0

4.0

6.0

IndexGrowth rate

60

70

-4.0

-2.0

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


0.0

2.0

4.0

0.0

1.0

2.0


-4.0

-2.0

-2.0

-1.0

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


1.0

2.0

3.0

5.5

6.0

6.5

Growth Rate %

-1.0

0.0

4.5

5.0

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


0.0

0.5

1.0

1.5

Growth Rate

-1.0

-0.5

0.0

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


2000

2500

3000

3500

4000

4500millions euro

0

500

1000

1500

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


1.200

1.300

1.400

1.500

1.0

1.5

2.0

2.5

€/$%

1.000

1.100

0.0

0.5

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




Detailed PEEIs analysis for PolandIndicators Unit Reference Period 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4GDP (volume) Q/Q-1 % (1) 1.0 0.9 0.8 0.9 : Q/Q-4 % 3.8 3.9 3.4 3.5 :Private final consumption (volume) Q/Q-1 % (1) 0.8 0.8 0.7 0.7 : Q/Q-4 % 3.1 3.6 3.5 2.6 :


2014Q4 2015Q1 2015Q2 2015Q3 2015Q4BOP Current account (All countries of the world) mn euro -1213.9 896.8 863.0 -2528.8 :


M/M-1 % -0.1 0.2 0.4 0.1 0.1 -0.1 -0.2 -0.3 0.1 -0.1 -0.2 :M/M-12 % -1.3 -1.2 -0.9 -0.6 -0.6 -0.5 -0.4 -0.6 -0.6 -0.5 -0.5 :

Industrial producer pricesM/M-1 % 0.3 0.4 -0.1 0.2 0.4 -0.4 -0.8 -0.2 0.0 0.1 -0.2 :M/M-12 % -3.1 -2.6 -2.5 -2.1 -1.7 -2.1 -3.0 -3.0 -2.4 -1.8 -0.8 :



2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4Labour Cost Index Q/Q-1 % (1) 1.2 1.6 -0.1 1.1 : Q/Q-4 % (3) 2.8 4.6 2.4 3.8 : 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4Employment Q/Q-1 % (1) - - - - - Q/Q-4 % 1.6 1.4 1.4 1.1 : 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01

Industrial productionM/M-1 % (1) 1.0 0.6 -2.0 0.9 0.4 -0.2 -1.2 1.7 0.8 0.8 0.7 :M/M-12 % (3) 5.2 6.7 2.5 5.1 5.1 3.9 3.1 4.1 4.8 5.5 4.4 :

Production in constructionM/M-1 % (1) 3.9 0.9 0.1 -5.9 -3.6 2.4 0.3 -1.6 -1.0 2.8 -0.4 :M/M-12 % -0.2 1.0 8.6 4.2 -4.7 -0.5 2.3 -1.7 -3.4 -1.9 -2.1 :

Retail trade deflated turnoverM/M-1 % (1) 0.0 2.3 -1.3 1.8 -1.1 -2.2 -0.1 -0.4 2.1 1.6 0.0 :M/M-12 % 7.6 9.2 6.5 10.0 8.2 4.4 3.4 4.3 5.6 5.9 5.5 :

2014Q4 2015Q1 2015Q2 2015Q3 2015Q4General government deficit (-)/ surplus (+) % -6.5 0.3 -2.4 -2.4 :


2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01



New Polish Zloty exchange rates against the euro Average 4.18 4.13 4.02 4.08 4.16 4.15 4.20 4.22 4.25 4.25 4.29 4.41



Principal European Economic Indicators (PEEIs) 2Poland




90

100

110

120

0.0

2.0

4.0

6.0

IndexGrowth rate

70

80

-4.0

-2.0

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


-2.0

0.0

2.0

4.0

1 0

2.0

3.0

4.0

5.0


-6.0

-4.0

-1.0

0.0

1.0

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


0.0

1.0

2.0

3.0

7.5

8.0

8.5

9.0

Growth Rate %

-2.0

-1.0

0.0

6.5

7.0

7.5

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


0 4

-0.2

0.0

0.2

0.4

0.6

Growth Rate

-1.0

-0.8

-0.6

-0.4

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


-1000

-500

0

500

1000

1500millions euro

-3000

-2500

-2000

-1500

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


3.95

4.20

4.45

4.70

3.0

3.5

4.0

4.5

Polish Zloty/€%

3.20

3.45

3.70

1.5

2.0

2.5

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


Polish Zloty exchange rates against the euro



Detailed PEEIs analysis for PortugalIndicators Unit Reference Period 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4GDP (volume) Q/Q-1 % (1) 0.4 0.5 0.5 0.0 : Q/Q-4 % 0.3 1.6 1.6 1.5 :Private final consumption (volume) Q/Q-1 % (1) 0.1 0.7 1.0 0.5 : Q/Q-4 % 1.9 2.8 3.3 2.3 :

Investment (GFCF) (volume) Q/Q-1 % (1) 1.2 2.2 1.4 -2.5 : Q/Q-4 % 2.2 8.4 6.2 2.8 : 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01External trade balance (extra euro area) (2) mn euro 214.3 62.0 -44.7 -142.1 85.3 63.8 115.4 -12.8 109.1 15.4 : :

External trade balance (extra EU28) (2) mn euro 100.3 -1.0 -63.6 -231.6 33.3 -50.0 -4.0 -138.2 -6.9 -101.0 : :

2014Q4 2015Q1 2015Q2 2015Q3 2015Q4BOP Current account (All countries of the world) mn euro 192.0 -181.0 -669.0 2083.0 :


M/M-1 % 0.0 1.9 0.4 0.5 -0.1 -0.7 -0.1 0.7 -0.2 -0.4 -0.3 :M/M-12 % -0.1 0.4 0.5 1.0 0.8 0.7 0.7 0.9 0.7 0.6 0.3 :

Industrial producer pricesM/M-1 % 0.9 0.9 0.1 0.7 -0.1 -0.4 -0.8 -1.0 -0.7 -0.1 -1.2 :M/M-12 % -3.4 -2.4 -2.4 -1.7 -1.8 -2.5 -3.2 -4.1 -4.0 -3.4 -2.6 :



2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4Labour Cost Index Q/Q-1 % (1) -4.7 5.0 0.6 -3.1 : Q/Q-4 % (3) -9.4 4.5 2.6 -2.8 : 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4Employment Q/Q-1 % (2) -0.8 0.7 0.9 -0.5 : Q/Q-4 % 0.7 1.4 1.9 0.4 : 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01

Industrial productionM/M-1 % (1) -0.9 0.5 2.4 1.5 -1.6 2.1 -2.0 -1.0 4.0 -4.6 0.2 :M/M-12 % (3) -1.7 3.6 -0.7 3.6 2.7 3.2 0.1 3.7 4.7 0.0 1.5 :

Production in constructionM/M-1 % (1) -1.4 2.5 -2.5 0.2 -0.9 0.0 1.1 -2.2 -0.9 -0.4 : :M/M-12 % -3.7 2.3 -4.2 -1.4 -1.9 -2.5 -1.4 -3.4 -3.8 -4.5 : :

Retail trade deflated turnoverM/M-1 % (1) -0.3 -3.3 0.9 0.0 0.2 1.0 1.6 -2.1 0.7 -1.7 -1.8 :M/M-12 % 3.1 2.0 3.7 1.7 2.9 1.7 0.7 1.2 3.4 0.8 -1.3 :



2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01





Principal European Economic Indicators (PEEIs) 2Portugal




80

90

100

110

0.0

3.0

6.0

9.0

IndexGrowth rate

60

70

-6.0

-3.0

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


0.0

3.0

6.0

9.0

0.0

2.0

4.0

6.0


-6.0

-3.0

-4.0

-2.0

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


0.0

3.0

6.0

9.0

13.5

14.0

14.5

15.0

Growth Rate %

-9.0

-6.0

-3.0

12.0

12.5

13.0

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


0 0

0.5

1.0

1.5

2.0

2.5

Growth Rate

-1.5

-1.0

-0.5

0.0

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


1000

2000

3000

4000millions euro

-2000

-1000

0

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


1 200

1.300

1.400

1.500

4 0

6.0

8.0

10.0

€/$%

1.000

1.100

1.200

0.0

2.0

4.0

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




Detailed PEEIs analysis for RomaniaIndicators Unit Reference Period 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4GDP (volume) Q/Q-1 % (1) 0.8 1.4 0.0 1.4 : Q/Q-4 % 2.7 4.3 3.4 3.6 :Private final consumption (volume) Q/Q-1 % (1) 1.2 2.9 0.1 2.0 : Q/Q-4 % 4.2 4.8 5.4 6.4 :

Investment (GFCF) (volume) Q/Q-1 % (1) 0.3 2.6 2.2 -0.4 : Q/Q-4 % 1.4 8.3 9.7 4.6 : 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01External trade balance (extra EU28) (2) mn euro 81.6 -173.9 40.6 38.0 -28.8 21.4 -109.0 -8.7 -68.5 36.2 : :

2014Q4 2015Q1 2015Q2 2015Q3 2015Q4BOP Current account (All countries of the world) mn euro 290.7 503.2 -808.7 -474.6 :


M/M-1 % 0.4 0.5 0.2 0.6 -2.5 -0.5 -0.6 0.3 0.3 0.3 0.2 :M/M-12 % 0.4 0.8 0.6 1.3 -0.9 -1.4 -1.7 -1.5 -1.4 -0.9 -0.7 :

Industrial producer pricesM/M-1 % 0.2 0.3 -0.7 0.1 0.1 -0.5 -0.6 -0.2 -0.1 0.0 -0.3 :M/M-12 % -0.6 0.0 -2.4 -2.2 -1.8 -1.9 -2.4 -2.5 -2.5 -2.3 -1.7 :

2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01Unemployment rate - total (2) % 6.9 6.8 6.8 6.8 6.8 6.8 6.8 6.9 6.8 6.7 6.7 :Unemployment rate - age <25 year (2) % 23.3 23.3 22.3 22.3 22.3 21.2 21.2 21.2 : : : :


2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4Labour Cost Index Q/Q-1 % (1) 2.8 1.3 2.0 1.0 : Q/Q-4 % (3) 6.5 7.0 7.6 7.3 : 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4Employment Q/Q-1 % (1) - - - - - Q/Q-4 % 0.8 -1.8 -0.1 0.0 : 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01

Industrial productionM/M-1 % (1) 0.2 0.2 -0.2 -0.1 0.8 0.2 -0.5 1.1 -0.3 -0.2 : :M/M-12 % (1) 3.7 2.0 4.4 1.9 3.2 3.7 3.1 3.9 2.5 1.9 : :

Production in constructionM/M-1 % (1) 4.2 3.6 -3.8 -4.2 4.2 0.8 -0.5 0.0 2.2 0.0 : :M/M-12 % 16.5 12.5 11.0 3.2 13.4 14.3 10.2 3.0 12.0 6.8 : :

Retail trade deflated turnoverM/M-1 % (1) -1.6 -0.5 3.1 -0.4 2.3 1.2 0.3 1.8 2.0 2.3 0.6 :M/M-12 % 3.7 -0.7 8.1 4.4 8.2 9.8 9.0 12.0 13.4 14.6 14.3 :

2014Q4 2015Q1 2015Q2 2015Q3 2015Q4General government deficit (-)/ surplus (+) % -5.1 2.1 0.1 0.4 :


2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01



New Romanian leu exchange rates against the euro Average 4.43 4.43 4.42 4.45 4.47 4.44 4.42 4.42 4.42 4.45 4.50 4.53

(1) swda: Seasonally adjusted and adjusted data by working days(2) sa: Seasonally adjusted data(3) wda: Adjusted data by working days « : » not available data; « - » not existing datThe set of indicators is selected from the PEEIs list (COM/2002/661) and complemented by certain Monetary and Financial Indicators as well as the Economic Sentiment Indicator.Indicator Source3 months Interest rate ECBLong term government bond yields ECBEuro-dollar exchange rate ECBEconomic Sentiment Indicator Directorate General for Economic and Financial Affairs (DG ECFIN)


Principal European Economic Indicators (PEEIs) 2Romania




95

100

105

110

0.0

2.0

4.0

6.0

IndexGrowth rate

85

90

-4.0

-2.0

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


0.0

3.0

6.0

9.0

-2.0

0.0

2.0

4.0


-6.0

-3.0

-6.0

-4.0

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


0.0

2.0

4.0

6.0

6.7

7.0

7.3

7.6

Growth Rate%

-4.0

-2.0

0.0

6.1

6.4

6.7

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


1 5

-1.0

-0.5

0.0

0.5

1.0Growth Rate

-3.0

-2.5

-2.0

-1.5

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


0

500

1000millions euro

-1000

-500

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


4.30

4.40

4.50

4.60

2.0

3.0

4.0

5.0

Romenian leu/€%

4.10

4.20

4.30

0.0

1.0

2.0

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


Romanian leu exchange rates against the euro



Detailed PEEIs analysis for SloveniaIndicators Unit Reference Period 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4GDP (volume) Q/Q-1 % (1) 0.3 0.7 0.7 0.4 : Q/Q-4 % 2.8 2.8 2.7 2.5 :Private final consumption (volume) Q/Q-1 % (1) 0.2 0.7 0.5 -0.1 : Q/Q-4 % -0.1 0.7 1.2 1.3 :

Investment (GFCF) (volume) Q/Q-1 % (1) -4.4 3.6 -1.3 -1.7 : Q/Q-4 % -4.1 1.5 -0.7 -3.9 : 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01External trade balance (extra euro area) (2) mn euro 70.6 107.7 61.0 112.9 65.6 105.1 17.9 59.1 84.2 211.4 : :




M/M-1 % 0.2 0.9 0.1 0.7 -0.1 -0.7 0.0 -0.1 0.0 0.1 -0.4 :M/M-12 % -0.5 -0.4 -0.7 -0.8 -0.9 -0.7 -0.6 -1.0 -1.1 -0.9 -0.6 :

Industrial producer pricesM/M-1 % -0.5 0.3 0.0 0.1 0.0 0.0 -0.2 -0.4 0.0 -0.4 -0.1 :M/M-12 % -0.4 0.0 0.0 0.1 -0.2 -0.2 -0.4 -0.9 -0.9 -1.3 -1.4 :



2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4Labour Cost Index Q/Q-1 % (1) 0.0 0.8 -0.3 -1.2 : Q/Q-4 % (3) 1.2 2.6 2.0 -1.5 : 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4Employment Q/Q-1 % (1) 0.5 0.4 0.3 0.2 : Q/Q-4 % 1.0 1.5 1.6 1.3 : 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01

Industrial productionM/M-1 % (1) 0.3 0.2 -0.2 1.0 -0.7 0.9 -0.4 0.4 -0.2 0.3 : :M/M-12 % (3) 6.4 4.8 4.7 6.1 3.7 3.1 5.1 6.0 3.3 4.2 : :

Production in constructionM/M-1 % (1) 3.6 1.2 -0.1 -5.2 -1.0 -2.9 -3.3 -5.2 -0.2 15.5 : :M/M-12 % 6.0 -1.5 -6.9 -8.9 -10.5 -12.8 -13.8 -11.8 -11.8 6.1 : :

Retail trade deflated turnoverM/M-1 % (1) 1.0 -1.5 0.6 0.7 -0.8 0.0 0.1 0.6 -1.2 0.5 -0.9 :M/M-12 % 2.7 0.1 -0.6 2.8 1.7 0.0 -0.1 0.1 0.6 1.2 0.2 :



2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01





Principal European Economic Indicators (PEEIs) 2Slovenia




100

105

110

115

0.0

2.0

4.0

6.0

IndexGrowth rate

90

95

-4.0

-2.0

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


2 0

0.0

2.0

4.0

6.0

2 0

0.0

2.0

4.0

6.0


-6.0

-4.0

-2.0

-6.0

-4.0

-2.0

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


0.0

1.0

2.0

3.0

9.5

10.0

10.5

11.0

Growth Rate %

-2.0

-1.0

8.5

9.0

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


0.0

0.2

0.4

0.6

0.8

1.0

Growth Rate

-0.8

-0.6

-0.4

-0.2

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


400

600

800

1000

millions euro

-200

0

200

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


1.200

1.300

1.400

2.0

3.0

4.0

€/$%

1.000

1.100

0.0

1.0

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




Detailed PEEIs analysis for SlovakiaIndicators Unit Reference Period 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4GDP (volume) Q/Q-1 % (1) 0.9 0.9 0.9 0.9 : Q/Q-4 % 2.8 2.9 3.4 3.7 :Private final consumption (volume) Q/Q-1 % (1) 0.7 0.4 0.7 0.7 : Q/Q-4 % 2.3 1.5 2.3 2.8 :

Investment (GFCF) (volume) Q/Q-1 % (1) 4.2 1.3 4.1 5.7 : Q/Q-4 % 4.0 6.7 9.5 17.3 : 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01External trade balance (extra euro area) (1) mn euro -76.2 -62.9 -141.0 -74.9 -79.7 -117.4 -293.5 -201.6 -109.9 -101.0 : :


2014Q4 2015Q1 2015Q2 2015Q3 2015Q4BOP Current account (All countries of the world) mn euro -311.7 329.1 -332.8 -785.5 :


M/M-1 % -0.2 0.2 0.3 0.3 0.1 -0.3 -0.2 -0.2 0.1 0.0 -0.3 :M/M-12 % -0.6 -0.4 -0.1 -0.1 -0.1 -0.2 -0.2 -0.5 -0.5 -0.4 -0.5 :

Industrial producer pricesM/M-1 % -2.2 0.7 -0.5 0.4 -0.9 0.2 -0.3 -1.3 0.0 0.2 -0.3 :M/M-12 % -4.5 -3.3 -3.5 -3.5 -4.5 -4.3 -4.2 -5.4 -5.1 -5.2 -4.6 :




Industrial productionM/M-1 % (2) 0.4 2.0 -1.0 0.4 1.2 1.3 -1.5 2.1 -0.6 1.9 : :M/M-12 % (3) 3.5 11.0 2.9 1.2 6.8 11.9 0.5 7.2 4.2 11.9 : :

Production in constructionM/M-1 % (2) 1.4 2.4 2.1 3.5 3.1 0.5 -4.9 8.1 2.1 -4.9 : :M/M-12 % 3.8 9.3 12.9 17.6 24.6 24.3 10.7 27.0 29.6 16.9 : :

Retail trade deflated turnoverM/M-1 % (2) 0.2 1.0 -0.5 0.7 0.5 -0.1 0.0 0.7 0.4 0.0 0.5 :M/M-12 % -0.3 1.4 -0.1 1.9 2.7 1.6 1.3 2.3 2.2 2.3 2.5 :



2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01



(1) sa: Seasonally adjusted data (2) swda: Seasonally adjusted and adjusted data by working days(3) wda: Adjusted data by working days « : » not available data; « - » not existing dataThe set of indicators is selected from the PEEIs list (COM/2002/661) and complemented by certain Monetary and Financial Indicators as well as the Economic Sentiment Indicator.Indicator Source3 months Interest rate ECBLong term government bond yields ECBEuro-dollar exchange rate ECBEconomic Sentiment Indicator Directorate General for Economic and Financial Affairs (DG ECFIN)


Principal European Economic Indicators (PEEIs) 2Slovakia




90

100

110

120

0.0

2.0

4.0

6.0

IndexGrowth rate

70

80

-4.0

-2.0

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


0.0

2.0

4.0

6.0

0.0

3.0

6.0

9.0


-4.0

-2.0

-6.0

-3.0

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


2.0

4.0

6.0

12.0

13.0

14.0

Growth Rate %

-2.0

0.0

10.0

11.0

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


-1.0

-0.5

0.0

0.5

1.0

Growth Rate

-2.5

-2.0

-1.5

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


-400

-200

0

200

400

millions euro

-1000

-800

-600

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


1.200

1.300

1.400

1.0

1.5

2.0

€/$%

1.000

1.100

0.0

0.5

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




Detailed PEEIs analysis for FinlandIndicators Unit Reference Period 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4GDP (volume) Q/Q-1 % (1) -0.2 0.2 0.4 -0.5 : Q/Q-4 % -0.5 -0.1 0.6 -0.3 :Private final consumption (volume) Q/Q-1 % (1) -0.4 0.9 0.1 0.8 : Q/Q-4 % 0.2 1.1 1.1 1.4 :

Investment (GFCF) (volume) Q/Q-1 % (1) -1.9 -0.5 -0.2 -1.4 : Q/Q-4 % -3.9 -3.2 -2.0 -3.9 : 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01External trade balance (extra euro area) (2) mn euro 165.7 236.2 695.7 351.4 424.3 412.6 296.3 277.5 231.9 215.0 : :


2014Q4 2015Q1 2015Q2 2015Q3 2015Q4BOP Current account (All countries of the world) mn euro 298.7 -233.9 -353.2 1022.6 :


M/M-1 % 0.3 0.4 0.0 -0.1 0.0 -0.3 0.0 0.1 0.2 0.0 -0.2 :M/M-12 % -0.1 0.0 -0.1 0.1 0.1 -0.1 -0.2 -0.7 -0.3 -0.2 -0.3 :

Industrial producer pricesM/M-1 % 1.1 0.4 0.3 -0.3 -0.2 0.2 -0.8 -0.8 -0.1 -0.1 -1.0 :M/M-12 % -2.3 -1.2 -1.0 -1.3 -1.8 -1.7 -2.5 -3.3 -3.0 -2.7 -2.4 :



2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4Labour Cost Index Q/Q-1 % (1) 0.1 0.8 0.4 -0.4 : Q/Q-4 % (3) 0.5 2.0 1.1 0.6 : 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4Employment Q/Q-1 % (1) -0.1 0.5 -0.4 0.1 : Q/Q-4 % -0.9 0.2 -0.7 0.0 : 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01

Industrial productionM/M-1 % (1) 0.1 0.3 0.1 -0.6 1.4 -0.9 -0.1 1.3 -1.0 -0.5 : :M/M-12 % (3) -3.2 -2.5 -1.9 -3.6 0.8 -1.3 -1.4 1.4 -1.1 -1.7 : :

Production in constructionM/M-1 % (1) 3.5 3.5 -1.1 1.9 -0.6 -1.1 1.6 -1.3 1.3 : : :M/M-12 % 4.3 8.4 4.0 9.6 7.6 5.8 7.5 5.7 7.2 : : :

Retail trade deflated turnoverM/M-1 % (1) 1.4 0.5 -1.1 0.3 -0.2 0.2 -0.3 -0.6 0.7 0.5 -0.5 :M/M-12 % 0.8 0.8 -1.7 0.5 0.8 0.4 0.3 0.2 0.1 2.2 1.4 :

2014Q4 2015Q1 2015Q2 2015Q3 2015Q4General government deficit (-)/ surplus (+) % -9.3 -2.2 3.0 -3.0 :


2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01





Principal European Economic Indicators (PEEIs) 2Finland




100

110

120

130

-2.0

0.0

2.0

4.0

IndexGrowth rate

80

90

-6.0

-4.0

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


-2.0

0.0

2.0

4.0

-1.0

0.0

1.0

2.0

3.0


-6.0

-4.0

-4.0

-3.0

-2.0

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


0.0

1.0

2.0

9.0

9.5

10.0

Growth Rate %

-2.0

-1.0

8.0

8.5

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


0.0

0.5

1.0

1.5

Growth Rate

-1.5

-1.0

-0.5

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


500

1000

1500

2000

2500

millions euro

-1000

-500

0

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


1.200

1.300

1.400

1.500

1.0

1.5

2.0

2.5

€/$%

1.000

1.100

. 00

0.0

0.5

.0

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




Detailed PEEIs analysis for SwedenIndicators Unit Reference Period 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4GDP (volume) Q/Q-1 % (1) 1.1 0.8 1.0 0.8 : Q/Q-4 % 2.6 3.0 3.9 3.9 :Private final consumption (volume) Q/Q-1 % (1) 1.3 0.3 0.5 0.7 : Q/Q-4 % 2.2 2.5 1.9 2.8 :

Investment (GFCF) (volume) Q/Q-1 % (1) 3.3 1.8 1.1 1.2 : Q/Q-4 % 9.0 7.8 8.3 7.5 : 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01External trade balance (extra EU28) (2) mn euro 1119.6 1216.3 1342.0 1151.3 1296.1 1172.1 1210.5 1506.1 1112.2 1034.5 : :



M/M-1 % 0.8 0.1 0.2 0.4 -0.3 0.1 -0.2 0.5 0.1 -0.2 0.2 :M/M-12 % 0.7 0.7 0.5 0.9 0.4 0.8 0.6 0.9 0.9 0.8 0.7 :

Industrial producer pricesM/M-1 % 0.5 0.0 -0.4 -0.3 -0.9 -0.6 -0.2 -0.1 0.7 -0.2 0.1 :M/M-12 % -0.3 0.0 0.2 -0.1 -0.9 -1.4 -1.9 -2.0 -1.6 -1.7 -1.9 :




Industrial productionM/M-1 % (1) 1.4 0.7 2.8 -0.6 0.5 -2.7 3.8 0.6 -0.6 0.1 : :M/M-12 % (3) -3.7 -0.7 2.5 5.3 3.2 0.5 5.3 7.0 4.9 5.5 : :

Production in constructionM/M-1 % (1) 2.2 2.5 1.3 1.4 -2.7 7.5 -3.5 -0.1 1.3 -0.2 : :M/M-12 % 12.7 15.3 15.1 18.9 13.7 17.3 13.7 13.0 13.2 10.7 : :

Retail trade deflated turnoverM/M-1 % (1) 0.2 1.0 0.0 -0.1 0.4 0.6 -0.4 1.0 0.7 0.4 -1.7 :M/M-12 % 3.8 4.3 3.3 4.1 4.3 6.4 2.8 5.3 5.1 5.1 3.3 :

2014Q4 2015Q1 2015Q2 2015Q3 2015Q4General government deficit (-)/ surplus (+) % -4.8 -1.2 1.9 -0.4 :


2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01


2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M013-month interest rate % 0.01 0.00 -0.14 -0.21 -0.23 -0.25 -0.27 -0.29 -0.30 -0.37 -0.40 :Long term government bond yields % 0.62 0.58 0.34 0.75 0.99 0.81 0.66 0.71 0.66 0.80 0.93 :

Swedish Krona exchange rates against the euro Average 9.49 9.24 9.33 9.30 9.27 9.39 9.52 9.39 9.35 9.31 9.25 9.28



Principal European Economic Indicators (PEEIs) 2Sweden




105

115

125

135

0.0

3.0

6.0

9.0

IndexGrowth rate

85

95

-6.0

-3.0

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


-2.0

0.0

2.0

4.0

1.0

2.0

3.0

4.0


-6.0

-4.0

-1.0

0.0

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


1.0

2.0

3.0

7.5

8.0

8.5

Growth Rate %

-1.0

0.0

6.5

7.0

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


-0 2

0.0

0.2

0.4

0.6

0.8

1.0

Growth Rate

-1.0

-0.8

-0.6

-0.4

0.2

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


4000

5000

6000

7000

8000

9000

millions euro

0

1000

2000

3000

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


8 50

9.00

9.50

10.00

10.50

0 5

1.0

1.5

2.0

2.5

Swedish Krona/€%

7.50

8.00

8.50

-0.5

0.0

0.5

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

3-month interest ratesLong-term government bond yields - ratesSwedish Krona exchange rates against the euro



Detailed PEEIs analysis for United KingdomIndicators Unit Reference Period 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4GDP (volume) Q/Q-1 % (1) 0.7 0.4 0.5 0.4 0.5 Q/Q-4 % 1.5 2.1 1.6 1.8 :Private final consumption (volume) Q/Q-1 % (1) 0.5 0.7 0.9 0.8 : Q/Q-4 % 2.1 2.7 2.5 2.8 :


2014Q4 2015Q1 2015Q2 2015Q3 2015Q4BOP Current account (All countries of the world) mn euro -33982.6 -28181.5 -23966.4 -32376.1 :


M/M-1 % 0.3 0.2 0.2 0.2 0.0 -0.2 0.2 -0.1 0.1 0.0 : :M/M-12 % 0.0 0.0 -0.1 0.1 0.0 0.1 0.0 -0.1 -0.1 0.1 : :

Industrial producer pricesM/M-1 % 1.0 0.6 0.1 0.6 -0.4 -0.8 -2.1 0.1 -0.2 -0.7 -0.8 :M/M-12 % -8.4 -7.7 -7.3 -6.8 -7.0 -7.2 -8.8 -8.3 -7.1 -7.1 -5.2 :



2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4Labour Cost Index Q/Q-1 % (1) 1.2 1.3 0.4 0.9 : Q/Q-4 % (3) 2.0 3.3 3.1 3.9 : 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4Employment Q/Q-1 % (1) - - - - - Q/Q-4 % 2.0 1.9 1.1 1.4 : 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01

Industrial productionM/M-1 % (1) 0.3 0.7 0.1 0.2 -0.1 -0.4 0.9 0.0 0.0 -0.7 : :M/M-12 % 0.6 1.3 1.2 1.7 1.7 0.6 2.0 1.1 2.1 0.4 : :

Production in constructionM/M-1 % (1) 0.1 4.6 -1.5 -2.6 3.0 -0.8 -3.3 1.4 -1.1 0.0 : :M/M-12 % 6.2 8.4 6.1 3.5 6.5 2.8 -0.3 -0.5 -0.8 0.1 : :

Retail trade deflated turnoverM/M-1 % (1) 0.4 -0.3 0.8 0.5 0.0 0.4 -0.5 1.8 -0.3 1.3 -0.6 :M/M-12 % 4.4 5.4 2.6 4.5 4.1 4.4 3.3 6.1 4.3 4.8 2.6 :



2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01



Pound Sterling exchange rates against the euro Average 0.74 0.72 0.72 0.72 0.72 0.71 0.71 0.73 0.73 0.71 0.73 0.75

(1) swda: Seasonally adjusted and adjusted data by working days (2) sa: Seasonally adjusted data (3) wda: Adjusted data by working days « : » not available data; « - » not existing dataThe set of indicators is selected from the PEEIs list (COM/2002/661) and complemented by certain Monetary and Financial Indicators as well as the Economic Sentiment Indicator.Indicator SourceCurrent account European Central Bank (ECB) for euro area only3 months Interest rate ECBLong term government bond yields ECBEuro-dollar exchange rate ECBEconomic Sentiment Indicator Directorate General for Economic and Financial Affairs (DG ECFIN)


Principal European Economic Indicators (PEEIs) 2United Kingdom




90

100

110

120

130

0 2

0.0

0.2

0.4

0.6

0.8

1.0

IndexGrowth rate

70

80

90

-0.8

-0.6

-0.4

-0.2

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


0.0

2.0

4.0

0.0

2.0

4.0

6.0


-4.0

-2.0

-4.0

-2.0

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


0.0

1.0

2.0

3.0

5.5

5.8

6.1

6.4

Growth Rate %

-2.0

-1.0

0.0

4.9

5.2

5.5

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


0.0

1.0

2.0

3.0

Growth Rate

-3.0

-2.0

-1.0

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


-20000

-10000

0

10000

millions euro

-50000

-40000

-30000

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


0.90

1.00

1.10

2.0

3.0

4.0

Pound Sterling/€%

0.70

0.80

0.0

1.0

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


Pound Sterling exchange rates against the euro



Detailed PEEIs analysis for NorwayIndicators Unit Reference Period 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4GDP (volume) Q/Q-1 % (1) 1.1 0.2 0.0 1.8 : Q/Q-4 % 3.0 1.6 2.3 3.0 :Private final consumption (volume) Q/Q-1 % (1) 0.7 0.7 0.6 0.1 : Q/Q-4 % 2.0 3.2 2.0 2.2 :

Investment (GFCF) (volume) Q/Q-1 % (1) -2.8 -0.9 0.1 0.2 : Q/Q-4 % -4.8 -3.3 -3.5 -3.3 : 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01External trade balance (rest of the world) mn euro - - - - - - - - - - - -



M/M-1 % 0.4 0.3 0.4 0.3 0.3 -0.2 -0.2 0.8 0.5 0.4 -0.4 :M/M-12 % 1.8 1.7 1.8 2.0 2.6 1.5 1.8 1.9 2.4 2.7 2.4 :

Industrial producer pricesM/M-1 % 2.0 -0.3 0.7 -0.3 -1.2 -1.5 -1.6 0.3 1.5 1.1 -2.7 :M/M-12 % -4.2 -3.1 -2.2 -2.2 -3.7 -6.1 -8.0 -7.4 -5.0 -3.0 -4.4 :



2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4Labour Cost Index Q/Q-1 % (1) - - - - - Q/Q-4 % - - - - - 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4Employment Q/Q-1 % (1) 0.1 0.1 0.3 0.3 : Q/Q-4 % 1.0 0.8 0.8 0.7 : 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01

Industrial productionM/M-1 % (1) 2.6 1.5 -5.8 2.7 3.4 -1.1 1.3 1.2 -3.1 -0.7 : :M/M-12 % (3) 1.9 2.2 -3.5 4.0 2.8 2.9 3.1 2.0 -3.0 -1.7 : :


Retail trade deflated turnoverM/M-1 % (1) 0.7 0.5 2.0 -3.6 0.8 0.5 0.1 -0.9 0.8 0.5 -1.3 :M/M-12 % 1.3 1.2 3.1 -0.6 -0.4 1.6 1.1 -0.5 0.6 0.9 -1.2 :

2014Q4 2015Q1 2015Q2 2015Q3 2015Q4General government deficit (-)/ surplus (+) % 6.2 7.7 10.6 4.8 :


2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01


2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M013-month interest rate (4) % 1.38 1.38 1.47 1.49 1.35 1.27 1.20 1.16 1.11 1.15 1.14 1.16Long term government bond yields (4) % 1.39 1.54 1.44 1.65 1.77 1.70 1.49 1.60 1.57 1.63 1.55 1.45

Norwegian Krone exchange rates against the euro (5) Average 8.62 8.64 8.51 8.41 8.76 8.94 9.18 9.31 9.29 9.26 9.46 9.59

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


Principal European Economic Indicators (PEEIs) 2Norway




-2.0

0.0

2.0

4.0

6.0

Growth rate

-8.0

-6.0

-4.0

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

GDP (q/q-1) Industrial Production (m/m-1)

0.0

2.0

4.0

0.0

2.0

4.0

6.0


-4.0

-2.0

-4.0

-2.0

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


1.0

2.0

3.0

4.0

3.5

4.0

4.5

5.0

Growth Rate %

-1.0

0.0

1.0

2.5

3.0

3.5

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

Employment (q/q-1) Unemployment rate Total (%)

0.0

1.0

2.0

3.0

Growth Rate

-3.0

-2.0

-1.0

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


4000

5000

6000

7000

8000

9000

10000millions euro

0

1000

2000

3000

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

BOP current account

8.40

8.80

9.20

9.60

2.0

2.5

3.0

3.5

Norwegian Krone/€%

7.60

8.00

1.0

1.5

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


Norwegian Krone exchange rates against the euro



Detailed PEEIs analysis for SwitzerlandIndicators Unit Reference Period 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4GDP (volume) Q/Q-1 % (1) 0.7 -0.3 0.2 0.0 : Q/Q-4 % 2.1 1.2 0.9 0.8 :Private final consumption (volume) Q/Q-1 % (1) 0.3 0.2 0.3 0.4 : Q/Q-4 % 1.1 1.3 1.0 1.3 :

Investment (GFCF) (volume) Q/Q-1 % (1) 0.4 0.1 0.8 -0.2 : Q/Q-4 % 2.6 1.7 1.9 1.9 : 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01External trade balance (All countries of the world) mn euro - - - - - - - - - - - -

2014Q4 2015Q1 2015Q2 2015Q3 2015Q4BOP Current account (All countries of the world) (1)(2) mn euro 16926.1 14304.8 20830.1 21431.6 :


M/M-1 % -0.4 0.5 -0.2 0.0 0.2 -0.2 -0.6 0.4 0.0 -0.3 -0.2 :M/M-12 % -0.4 -0.5 -0.8 -0.9 -0.6 -0.8 -1.2 -1.2 -1.2 -1.2 -1.4 :

Industrial producer prices (2) M/M-1 % -0.7 0.1 -1.7 -0.8 0.0 -0.3 -0.6 0.0 0.3 0.3 -0.3 :M/M-12 % -2.0 -1.9 -3.4 -4.2 -4.2 -4.4 -4.7 -4.7 -4.5 -3.6 -3.6 :

2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01Unemployment rate - total (2)(3)(4) % : : : : : : : : : : : :Unemployment rate - age <25 year % : : : : : : : : : : : :

Unemployment rate - age >=25 year % : : : : : : : : : : : :

2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4Labour Cost Index (2) Q/Q-1 % - - - - - Q/Q-4 % - - - - - 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4Employment (2)(5) Q/Q-1 % (1) 2.1 -0.6 -0.2 -0.3 : Q/Q-4 % 2.4 3.0 1.6 1.0 : 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01

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

2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4Production in construction (2)(7) Q/Q-1 % : : : : : Q/Q-1 % : : : : : 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01

Retail trade deflated turnoverM/M-1 % (1) -0.6 0.7 0.6 -0.6 1.3 -0.5 -0.6 -0.3 0.3 -0.6 1.1 :M/M-12 % -2.6 -2.4 -0.6 -0.8 -0.9 1.1 -1.5 -1.4 -1.0 -1.7 -1.6 :


General government gross debt % - - - - -

2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01


2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M013-month interest rate (3) % -0.85 -0.81 -0.79 -0.79 -0.79 -0.74 -0.72 -0.73 -0.73 -0.83 -0.76 :Long term government bond yields (3) % 0.01 0.00 0.04 -0.03 0.10 -0.04 -0.12 -0.10 -0.27 -0.31 -0.04 -0.30

Swiss Franc exchange rates against the euro (8) Average 1.06 1.06 1.04 1.04 1.05 1.05 1.08 1.09 1.09 1.08 1.08 1.09

(1) sa: Seasonally adjusted data (2) Calculated by Eurostat from OECD Main Economic Indicators database. There may be rounding differences with data published nationally(3) Source: OECD Main Economic Indicators database (4) Registered unemployment rate(5) Civilian employment: all persons(6) New orders for total manufacturing(7) Production of dwellings (8) Source: ECB« : » not available data; « - » not existing data


Principal European Economic Indicators (PEEIs) 2Switzerland




0.0

0.5

1.0

Growth rate

-1.0

-0.5

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

GDP (q/q-1)

0.0

2.0

4.0

0.0

1.0

2.0


-4.0

-2.0

-2.0

-1.0

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


-0.4

-0.3

-0.2

-0.1

0.0

Growth Rate

-0.7

-0.6

-0.5

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

Employment (q/q-1)

-0.5

0.0

0.5

1.0

Growth Rate

-2.0

-1.5

-1.0

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


10000

15000

20000

25000

30000

millions euro

-5000

0

5000

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

BOP current account

1.20

1.30

1.40

1.50

-0.5

0.0

0.5

1.0

Swiss Franc/€%

1.00

1.10

-1.5

-1.0

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


Swiss Franc exchange rates against the euro



Detailed PEEIs analysis for United StatesIndicators Unit Reference Period 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4GDP (volume) (1) Q/Q-1 % 0.5 0.2 1.0 0.5 0.2 Q/Q-4 % 2.5 2.9 2.7 2.2 1.8Private final consumption (1)

(volume) Q/Q-1 % 1.1 0.4 0.9 0.8 0.5 Q/Q-4 % 3.2 3.3 3.3 3.2 2.6

Investment (GFCF) (volume) (1) Q/Q-1 % 0.6 0.4 1.7 0.9 0.1 Q/Q-4 % 4.6 4.1 4.3 3.6 3.1 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01External trade balance (All countries of the world) (2)(3) mn euro -49295.2 -63914.0 -55116.4 -53443.9 -55587.3 -53910.5 -59475.7 -52972.1 -55033.4 -56166.2 : :

2014Q4 2015Q1 2015Q2 2015Q3 2015Q4BOP Current account (All countries of the world) (2)(3) mn euro -82523.6 -105048.4 -100507.6 -111651.5 :

2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01Consumer Prices Index- All items(2)

M/M-1 % (3) -0.2 -0.2 -0.1 -0.4 -0.3 -0.1 0.1 0.1 -0.2 0.0 0.1 :M/M-12 % -0.1 0.0 -0.1 0.0 0.2 0.2 0.2 0.0 0.1 0.4 0.7 :

Industrial producer prices (2) M/M-1 % 0.2 0.4 -0.3 1.4 0.4 -0.2 -0.8 -1.6 -0.2 -0.3 -1.1 :M/M-12 % -5.0 -5.1 -6.0 -4.6 -4.2 -4.5 -5.3 -6.5 -5.7 -5.0 -4.3 :


Unemployment rate - age >25 year (3) % - - - - - - - - - - - -

2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4Labour Cost Index (2) (3)(4) Q/Q-1 % 0.4 0.5 0.6 0.6 0.6 Q/Q-4 % 2.1 1.8 1.9 2.0 2.2 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4Employment (2)(5) Q/Q-1 % (1) 0.6 0.6 0.3 0.2 0.4 Q/Q-4 % 2.2 2.0 1.9 1.6 1.4 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01


Production in construction - value (2) (7)

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

Retail trade deflated turnoverM/M-1 % (3) - - - - - - - - - - - -M/M-12 % - - - - - - - - - - - -

2014Q4 2015Q1 2015Q2 2015Q3 2015Q4General government deficit (-)/ surplus (+) % - - - - -


2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01


2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M013-month interest rate % 0.26 0.27 0.28 0.28 0.28 0.29 0.32 0.33 0.32 0.37 : :Long term government bond yields % 1.97 2.04 1.92 2.20 2.36 2.32 2.16 2.17 2.06 2.26 2.24 2.08

Euro-dollar exchange rate (7) Average 1.14 1.08 1.08 1.12 1.12 1.10 1.11 1.12 1.12 1.07 1.09 1.09

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


Principal European Economic Indicators (PEEIs) 2United States




0.0

0.5

1.0

1.5

Growth rate

-1.0

-0.5

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

GDP (q/q-1)

0 6

0.8

1.0

1.2

1.4

1.6

1.8

Growth Rate (PFC, I)

0.0

0.2

0.4

0.6

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

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

0.0

0.5

1.0

5.5

6.0

6.5

Growth Rate %

-1.0

-0.5

4.5

5.0

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


-0.5

0.0

0.5

1.0

1.5

Growth Rate

-2.0

-1.5

-1.0

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

CPI (m/m-1) Industrial producer prices (m/m-1)

-60000

-40000

-20000

0

millions euro

-120000

-100000

-80000

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

BOP current account External trade balance

1.20

1.30

1.40

1.50

1.5

2.0

2.5

3.0

€/$%

0.90

1.00

1.10

0.0

0.5

1.0

2015M02 2015M04 2015M06 2015M08 2015M10 2015M123-month interest rate Long term government bond yields Euro-dollar exchange rate



Detailed PEEIs analysis for JapanIndicators Unit Reference Period 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4GDP (volume) (1) Q/Q-1 % 0.5 1.1 -0.1 0.3 : Q/Q-4 % -0.9 -1.0 0.7 1.7 :Private final consumption (1)

(volume) Q/Q-1 % 0.4 0.3 -0.5 0.4 : Q/Q-4 % -2.2 -4.1 0.1 0.5 :

Investment (GFCF) (volume) (1) Q/Q-1 % -0.1 1.6 0.2 0.3 : Q/Q-4 % -3.1 -4.1 0.8 2.1 : 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01External trade balance (All countries of the world) (2)(3) mn euro -3950.1 -124.0 -1570.3 -1331.0 -1816.6 -2478.3 -2414.1 -2251.3 -1456.5 161.4 267.5 :

2014Q4 2015Q1 2015Q2 2015Q3 2015Q4BOP Current account (All countries of the world) (2)(3) mn euro 18627.3 28832.1 31455.7 26872.6 21940.3

2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01Consumer Prices Index- All items (2)

M/M-1 % (3) 0.1 -0.1 -0.2 -0.1 0.0 0.0 0.0 0.1 -0.1 0.1 0.0 :M/M-12 % 2.2 2.3 0.6 0.4 0.3 0.3 0.2 0.0 0.3 0.3 0.2 :

Industrial producer prices (2) M/M-1 % -0.2 0.3 0.1 0.2 0.1 -0.3 -0.5 -0.5 -0.4 -0.1 -0.4 :M/M-12 % 0.0 0.4 -2.2 -2.0 -2.0 -2.5 -3.0 -3.4 -3.2 -3.2 -3.0 :


Unemployment rate - age >25 year (3) % - - - - - - - - - - - -

2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4Labour Cost Index (2)(4) Q/Q-1 % -0.1 0.0 0.0 0.5 : Q/Q-4 % 0.5 0.4 -0.2 0.2 : 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4Employment (2)(5) Q/Q-1 % (1) 0.0 0.2 -0.2 0.3 0.0 Q/Q-4 % 0.3 0.6 0.2 0.4 0.4 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01


Production in constructionM/M-1 % (3) : : : : : : : : : : : :M/M-12 % : : : : : : : : : : : :

Retail trade deflated turnoverM/M-1 % (3) - - - - - - - - - - - -M/M-12 % - - - - - - - - - - - -

2014Q4 2015Q1 2015Q2 2015Q3 2015Q4General government deficit (-)/ surplus (+) % - - - - -


2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01


2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 2015M08 2015M09 2015M10 2015M11 2015M12 2016M013-month interest rate % 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 : :Long term government bond yields % 0.4 0.4 0.3 0.4 0.5 0.4 0.4 0.4 0.3 0.3 0.3 0.2

Yen exchange rates against the euro (6) Average 134.7 130.4 128.9 134.8 138.7 135.7 137.1 134.9 134.8 131.6 132.4 128.3

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


Principal European Economic Indicators (PEEIs) 2Japan




0.0

1.0

2.0

3.0

Growth rate

-2.0

-1.0

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

GDP (q/q-1)

2 0

0.0

2.0

4.0

6.0

Growth Rate (PFC, I)

-6.0

-4.0

-2.0

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

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

-1.0

0.0

1.0

2.0

3.5

4.0

4.5

5.0

Growth Rate %

-3.0

-2.0

2.5

3.0

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


-0.2

-0.1

0.0

0.1

0.2

0.3

0.4

Growth Rate

-0.6

-0.5

-0.4

-0.3

0.2

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

CPI (m/m-1) Industrial producer prices (m/m-1)

10000

20000

30000

40000millions euro

-10000

0

10000

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

BOP current account External trade balance

120.00

130.00

140.00

150.00

160.00

0.6

0.8

1.0

1.2

1.4

Yen/€%

90.00

100.00

110.00

0.0

0.2

0.4

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


Yen exchange rate against the euro



0.0

0.5

1.0

1.5

2.0

-1.5

-1.0

-0.5

el fi

dk

ee at

pt

ch nl

be it jp

ea

19

de fr

eu

28 cy si uk

us

cz lt

hu

bg es

se lu pl

sk lv mt

hr ie ro n

o

0.5

1.0

1.5

2.0

2.5

-1.0

-0.5

0.0

ro lv lt

bg es

mt fi

uk

us ie pl

sk se ch dk

de

eu

28

ee cy pt

ea

19 fr it lu hu jp cz hr

at

no nl si b

e el

Cross-country comparisonsGross Domestic Product, in volume Q/Q-1

Quarterly growth in percentage, 2015 Q3

Private Consumption, in volume Q/Q-1

Quarterly growth in percentage, 2015 Q3

Balance of payments, current account

Millions of euro, 2015 Q3

-60,000.0

-40,000.0

-20,000.0

0.0

20,000.0

40,000.0

60,000.0

80,000.0

-140,000.0

-120,000.0

-100,000.0

-80,000.0

us

uk pl

cz sk ro lv lt cy

ee

be

mt si lu fi

bg at

hu pt ie fr hr

no el

dk es

se it nl

ch jp

eu

28

de


Principal European Economic Indicators (PEEIs) 2

10.0

15.0

20.0

25.0

0.0

5.0

jp cz de us

mt

at

dk lu nl

ro pl

se be lt

bg ie si

eu

28 fi fr lv

ea

19 sk it pt

cy hr

es

-0.2

0.0

0.2

0.4

0.6

0.8

-0.8

-0.6

-0.4

at

bg fr ro se

eu

28

ea

be

dk

de el

cz ie it

mt nl

pl fi

ch lv hu pt

sk es lt si

no lu hr

cy

ee

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

Monthly growth in percentage, 2015 M12

Long term interest rates − Long term government bond yields*

Average according to Maastricht definition, 2015 M12

Unemployment rates, harmonized rates: total

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

3.0

4.0

5.0

6.0

7.0

8.0

9.0

0.0

1.0

2.0

el

hr

cy ro hu pl

pl

pt

bg uk es si it lt

eu

28

mt

ea ie lv fr se be at fi

dk nl

sk de cz lu

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


EU-28: European Union (28 countries) EU-27: European Union (27 countries) EA-19: Euro area (19 countries) EA-18: Euro area (18 countries)EA-17: Euro area (17 countries) EA-16: Euro area (16 countries)EA-15: Euro area (15 countries)EA-13: Euro area (13 countries)EU-25: European Union (25 countries) EU-15: European Union (15 countries) EA: Euro area (EA-11 up to 31.12.2000 / EA-12 up to 31.12.2006 / EA-13 up to

31.12.2007 / EA-15 up to 31.12.2008 / EA-16 up to 31.12.2010 / EA-17 onwards up to 31.12.2013 / EA-18 up to 31.12.2014 /EA-19 onwards)

EA-12: Euro area (12 countries) BE: Belgium BG: BulgariaCZ: Czech Republic DK: Denmark DE: Germany (including ex-GDR from 1991) EE: Estonia IE: IrelandEL: Greece ES: Spain FR: France HR: CroatiaIT: Italy CY: Cyprus LV: Latvia LT: Lithuania LU: Luxembourg (Grand-Duché) HU: Hungary MT: Malta NL: Netherlands AT: Austria PL: Poland PT: Portugal RO: Romania SI: Slovenia SK: Slovak Republic FI: Finland SE: Sweden UK: United Kingdom NO: Norway CH: SwitzerlandUS: United States JP: Japan « : » not available data « - » not existing data « c » confidential data

Data presented in Section 2 of this publication have been extracted from Eurostat’s European and National Short-Term Indicators database on 5th February 2016.

Symbols and codes in the tables

eurostatistics data for short-term economic...

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