KS-BJ-16-011-EN-N Indicators Short Term Economics

Eurostatistics
DATA FOR SHORT-TERM ECONOMIC ANALYSIS 11/2016
S TAT I S T I C A L
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Eurostatistics
DATA FOR SHORT-TERM ECONOMIC ANALYSIS 11/2016
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Luxembourg: Publications Office of the European Union, 2016
ISSN 1831-3221
Cat. No KS-BJ-16-011-EN-N
Theme: General and regional statistics

Collection: Statistical books
European Union, 2016

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Contents
Contents
Summary analysis ...................................................................................................................... 5
Editorial ..................................................................................................................................................... 5
Latest macroeconomic developments ......................................................................................... 6
Growth forecasts for the euro area ................................................................................................. 7
Cyclical indicators for the euro area ............................................................................................... 8
Latest cyclical estimates for the EA and the EU ....................................................................... 11
Methodological notes ....................................................................................................................... 14
Principal European Economic Indicators (PEEIs) ................................................................ 17
Detailed PEEIs analysis for European Union (EU28) ............................................................... 18
Detailed PEEIs analysis for Euro area ........................................................................................... 20
Detailed PEEIs analysis by countries ............................................................................................ 22
Cross-country comparisons ............................................................................................................ 86
Symbols and codes in the tables ................................................................................................... 88
Eurostatistics 11/2016 edition 3

1 6. Summary analysis
Editorial
International context: GDP European Union and euro area:

growth accelerated in the US in GDP growth stable in Q3 2016 in
Q3 2016 the euro area and in the EU
The advance estimate of the US GDP annual growth rate GDP growth remained stable in the euro area in Q3
was 2.9% in Q3 2016 according to the BEA up from 1.4% 2016 according to the preliminary flash estimate with
in Q2 2016. The contribution to this expansion came a quarterly rate of 0.3%, unchanged compared to Q2.
from consumer spending on services, spending on The annual GDP growth rate was 1.6% in Q3 2016, the
durable goods, exports of goods and services, private same as in Q2. The flash estimate of the euro area
inventory investment and government spending. annual inflation rate rose to 0.5% in October 2016, up
Partially offsetting these contributions to growth, from 0.4% in September 2016. Services saw the highest
residential housing investment, consumer spending on annual growth at 1.1%, while energy prices continued to
non-durable goods, and state and local government decline, at -0.9% in October 2016 compared to -3.0% in
spending declined in Q3 2016. September.
Regarding the BRICS countries (Brazil, Russia, India, China The EU GDP quarterly GDP growth rate was 0.4% in Q3
and South Africa), China reported a slight deceleration 2016, unchanged compared to Q2. The annual GDP
of its quarterly GDP growth, with a rate of 1.8% in Q3 growth rate of the EU also remained unchanged at 1.8%
2016 after 1.9% in Q2 2016. The annual GDP growth in Q3 2016 compared to Q2
rate remained nevertheless stable at 6.7% in Q3 2016,
the same since Q1 2016. The other BRICS countries will
release their GDP growth rates for Q3 2016 only later. But Situation in the Member states:
in Q2 2016, India experienced a deceleration of its GDP
growth with a quarterly rate of 1.4%, down from 2.0% GDP growth still sound in Spain
in Q1. The annual GDP growth rate declined to 7.1% in
Q2 2016 from 7.9% in Q1. In Brazil the GDP growth rate
and in the UK in Q3 2016
was -0.6% in Q2 2016, after -0.4% in Q1. The annual GDP In Q3 2016, GDP growth accelerated in Austria with a
growth rate improved to -3.8% in Q2 2016 after -5.4% in quarterly rate of 0.5%, up from 0.1% in Q2. The annual
Q1. South Africa reported a GDP growth rate of 0.8% in growth rate rose to 1.7% in Q3 2016 from 1.3% in Q2.
Q2 2016, up from -0.3% in Q1. The annual GDP growth Spain reported another solid quarterly GDP growth
rate rose to 0.7% in Q2 2016, compared with -0.6% in rate of 0.7% in Q3 2016, slightly down from 0.8% in Q2.
Q1. According to the Federal Statistics State Service The annual GDP growth rate fell slightly to 3.2% in Q3
(Rosstat), the annual GDP growth rate in Russia was 2016, down from 3.4% in Q2. The UK also declared a
-0.6% in Q2 2016, an improvement on -1.2% in Q1. sound GDP growth rate of 0.5%, nevertheless down
from 0.7% in Q2. The annual GDP growth rate rose to
2.3% in Q3 2016, up from 2.1% in Q2. France returned to
positive GDP growth with a quarterly rate of 0.2% in Q3
2016 after a contraction of 0.1% in Q2. The annual GDP

1 Summary Analysis
growth rate declined to 1.1% in Q3 2016 from 1.3% in 2016 down from 2.1% in Q2. The other Member States
Q2. The GDP growth rate decelerated in Lithuania with will release their GDP growth rates for Q3 2016 on 15th
a quarterly rate of 0.1% in Q3 2016 down from 0.4% in November 2016.
Q2. The annual GDP growth rate declined to 1.6% in Q3
Latest macroeconomic developments

retail trade volume decreased by 0.2% in the euro area
Mixed economic indicators in the and by 0.1% in the EU28. In September 2016 compared
euro area with September 2015 the calendar adjusted retail sales
index increased by 1.1% in the euro area and by 2.2% in
the EU28.
EVOLUTION OF GDP
Seasonally adjusted GDP rose by 0.3% in the euro INFLATION
area (EA19) and by 0.4% in the EU28 during the third
quarter of 2016, compared with the previous quarter, Euro area annual inflation is expected to be 0.5% in
according to a preliminary flash estimate published by October 2016, up from 0.4% in September 2016 and
Eurostat. In the second quarter of 2016, GDP had also up from 0.2% in August according to a flash estimate
grown by 0.3% in the euro area and by 0.4% in the EU28. from Eurostat. In September 2015 the rate was 0.1%.
Compared with the same quarter of the previous year, European Union annual inflation was also 0.4% in
seasonally adjusted GDP rose by 1.6% in the euro area September 2016, up from 0.3% in August. A year earlier
and by 1.8% in the EU28 in the third quarter of 2016, the rate was 0.1%.
after +1.6% and +1.8% also in the previous quarter.
UNEMPLOYMENT
INDUSTRIAL PRODUCTION
The euro area (EA19) seasonally-adjusted
In August 2016 compared with July 2016, seasonally unemployment rate was 10.0% in September 2016,
and calendar adjusted industrial production rose by stable compared to August 2016 and down from 10.6%
1.6% in the euro area (EA19) and by 1.4% in the EU28, in September 2015. This is the lowest rate recorded in
according to estimates from Eurostat. In July 2016 the euro area since June 2011. The EU28 unemployment
industrial production fell by 0.7% in both zones. In rate was 8.5% in September 2016, stable compared
August 2016 compared with August 2015, industrial to August 2016 and down from 9.2% in September
production increased by 1.8% in both zones. 2015. This is the lowest rate recorded in the EU28 since
February 2009. Eurostat estimates that 20.789 million
men and women in the EU28, of whom 16.181 million
CONSTRUCTION PRODUCTION were in the euro area, were unemployed in September
2016. Compared with August 2016, the number of
In August 2016 compared with July 2016, seasonally persons unemployed decreased by 150 000 in the
and calendar adjusted production in the construction EU28 and by 101 000 in the euro area. Compared with
sector decreased by 0.9% in the euro area (EA19) and September 2015, unemployment fell by 1.596 million in
by 1.3% in the EU28, according to first estimates from
the EU28 and by 905 000 in the euro area.
Eurostat. In July 2016, production in construction grew
by 1.5% in the euro area and by 0.3% in the EU28. In
August 2016 compared with August 2015, production INTEREST RATES
in construction rose by 0.9% in the euro area, while it fell
by 0.5% in the EU28 On 20 October 2016, The Governing Council of the
European Central Bank decided to keep the interest
rate on the main refinancing operations at 0.00%. On
RETAIL TRADE 16 December, 2015, the US Federal Reserve raised its
rate to 0.5%. On 20 January 2016, the Bank of Japan
In September 2016 compared with August 2016, the decided to lower its key official rate at 0.1%. The Bank
seasonally and calendar adjusted volume of retail trade of England Monetary Policy Committee decided to
fell by 0.2% in both the euro area (EA19) and the EU28, decrease the interest rate to 0.25 percent on August 4th
according to estimates from Eurostat. In August the 2016. The euro areas 3-month rate, Euribor, decreased
6 Eurostatistics 11/2016 edition

Summary Analysis 1
slightly at 0.31% in October after 0.30 in September EXCHANGE RATES
and August 2016. Long-term interest rates (monthly
average weighted 10-year government bond yield) of The euro / US dollar exchange rate (monthly average)
the euro area increased at 0.63% after 0.58% in August decreased at USD 1.1026 in October after 1.1212 in
2016. The EU28 long-term interest rates increased to September 2016. The euro decreased against the
0.83% in September from 0.78% in August 2016. Japanese yen in October 2016 with an exchange
rate of Yen 114.47 for one euro. The euro decreased
against the Swiss Franc at SF 1.089 in October from
1.092 in September 2016. The euro / UK Pound Sterling
exchange rate slightly increased to GBP 0.8939 in
October from 0.8523 in September and 0.8552 in
August 2016.
Growth forecasts for the euro area

The Eurogrowth indicator still seems relatively immune
Growth confirmed in the euro to the uncertainty caused by the Brexit vote.
area The -coin indicator rose in October to 0.38 (from
According to the Eurogrowth Indicator, the euro area 0.34 in September), with a strengthening of the growth
growth would accelerate to 0.6% in the fourth quarter trend under way since June. This largely reflects the
of 2016 after 0.45% in the third quarter. The year-on-year improvement in consumer and business confidence
growth rate is expected to reach 1.8% in 2016Q4. levels, as well as the continuing favourable conditions
on the financial markets.
The acceleration of GDP in 2016Q4 is mainly due to the
improved economic sentiment in the Industrial survey, For a description of the sources and methods on
the improvement in household confidence and in the the indicators of growth and turning points, see the
construction sector. On the contrary, the exchange rate Methodological notes at the end of this section.
has a negative impact on the fourth quarter.
Figure 1: Quarter-over-quarter GDP growth indicators Figure 2: Year-over-year GDP growth indicators
(q/q1) (q/q4)
1.0 2.5
0.8 2.0
0.6 1.5
0.4 1.0
0.2 0.5
0.0 0.0
2014Q4 2015Q2 2015Q4 2016Q2 2016Q4 2014Q4 2015Q2 2015Q4 2016Q2 2016Q4
GDP release Euroframe EuroCoin GDP release Euroframe EuroCoin

1 Summary Analysis
Table 1: Comparison of GDP growth forecasts for the euro area
Percentage change
Over previous quarter (q/q1) Over previous year (q/q4)
2016Q1 2016Q2 2016Q3 2016Q4 2016Q1 2016Q2 2016Q3 2016Q4
EUROSTAT release 0.5 0.3 0.3 : 1.7 1.6 1.6 :
EUROFRAME 0.4 0.5 0.5 0.6 2.0 1.5 1.5 1.9
EuroCOIN 0.4 0.3 0.3 0.4 2.1 1.4 1.3 1.4
Cyclical indicators for the euro area

Experts continued to assess the German economic
Relative improvement of the situation as being the most positive. Assessments of the
cyclical indicators in September already favourable situation also improved in Belgium,
Estonia, the Netherlands, Slovakia and Slovenia. By
The Business Climate Indicator (BCI) increased contrast, in Austria, Luxembourg, Latvia and Lithuania,
further (by 0.11points to +0.55). Managers production participants assessed the current economic situation
expectations and their assessments of export order as slightly less favourable than in the last quarter. In
books improved sharply. Their assessments of the past France, Italy and Spain assessments of the unfavourable
production, the level of overall order books and the economic situation continued to deteriorate. The
stocks of finished products also improved. majority of assessments also remained negative
for Finland, Greece and Portugal, despite a slight
The Composite leading indicators (CLIs) point to improvement in these countries.
stable growth in the OECD area with growth gaining
momentum in major emerging economies. Stable The growth outlook for the euro area for the next three
growth is anticipated in the United States, Japan and to five years remained unchanged at an annual rate of
the euro area as a whole, including France and Italy. 1.7 percent compared to the survey conducted at the
Stable growth is also expected over the short-term in end of 2015. For 2016, experts expect an inflation rate of
the United Kingdom, though uncertainty persists about 0.7 percent. The medium-term inflation expectations for
the nature of the agreement the UK will eventually 2021 rose from 1.8 percent to 1.9 percent.
conclude with the EU. In Germany and in Canada, the
CLIs indicate growth gaining momentum. Among major The DZ BANKs Euro-Indicator climbed to its highest
emerging economies, the CLIs point to growth gaining level since December 2015 in October at 98.7 points,
momentum in China and India, and also Brazil and and is currently around 0.4 per cent above last years
Russia, albeit from low levels. reading.
The IFO Index for the economic climate in the The IARC turning point indicator dropped to 46.1%
euro area improved this quarter, but to markedly in October after a revised index of 49.2% in September,
different degrees across member states. The IFO index largely below the significant 80% signal threshold
for the economic climate in the euro area rose from which indicates a risk of an imminent slowdown. It even
111.6 points to 116.8 points in the fourth quarter. The remains under the 60% threshold signaling a possible
current economic situation remains unchanged and the downswing in the next nine months.
improved economic climate was entirely due to more
positive expectations. The economic recovery in the The start-end recession indicator (IESR) decreased
euro area is expected to continue at a sluggish pace. to a low 1.2% in September, showing no risk of a
recession in the euro area.
The six-month economic outlook brightened almost
everywhere, with the exception of a few countries, and
points to an economic upturn over the next six months.
Even experts in Greece are slightly more positive. Only
experts in France, Latvia and Portugal remain skeptical
about future economic developments.

Summary Analysis 1
Table 2: Comparison of indicators of turning points in the business cycle for the euro area
2016M6 2016M7 2016M8 2016M9 2016M10

OECD-CLI Index 100.2 100.2 100.3 100.3 :
DZ-Euroland indicator Index 98.4 98.4 98.2 98.4 98.7
DG ECFIN Business Climate Indicator Points of std-dev. 0.22 0.38 0.03 0.44 0.55
2016Q1 2016Q2 2016Q3 2016Q4
IFO 118.9 112.7 11.6 111.8
Figure: DZ-Euroland and IFO Business climate Figure: DG-ECFIN Business climate Indicator
Indicators
10 2
6 140
5 1
4 130
2 120 0 0
10 2
06 140
110 55 1 1
4 130 0 0
22 100
120 105 12
04 110
90
2 100 15
10 23
64 80
90 15 3
86 80
70 20 4
8 70 25 5
10 60 252005 2007 2009 2011 2013 2015 5
10 60 2005 2007 2009 2011 2013 2015
12 50
2007 2009
2009 2011
2011 2013
2013 2015
2015
Y-O-Y growth rate of the industrial production index (left-hand scale,
Y-O-Y growth rate of the industrial production index (left-hand scale,
DZ-Euroland-Indicator
DZ-Euroland-Indicator(left-hand
(left-handscale)
scale) excl. construction)
excl. construction)
Y-O-Y GDP growth rate (left-hand scale) DG-ECFIN business climate indicator (right-hand scale)
Y-O-Y GDP growth rate (left-hand scale)
IFO Indicator (right-hand scale)
Figure: OECD Leading indicator
T P T P T
104 June Feb June May March
2003 2008 2009 2011 2013
102
100
98
T: trough / P: peak
in the reference series
96
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Detrended GDP OECD indicator

1 Summary Analysis
Table: Turning point indicators for the euro area
2016M5 2016M6 2016M7 2016M8 2016M9 2016M10

IARC Probability index 82.1 59.9 61.4 64.4 49.2 46.1
IESR Probability index 0.1 0.0 0.1 0.0 0.0 :
Figure: IARC indicator
100
90
80
70
60
50
40 Probability for a peak
Probability for a trough
30
20
10
0
Mar-15
May-15
Mar-16
Mar-16
May-16
May-16
Dec-14
Dec-14
Apr-15
Apr-15
Dec-15
Apr-16
JJan-15
Feb-15
Feb-15
JJun-15
JJun-15
Aug-15
Aug-15
SSep-15
Oct-15
Nov-15
Nov-15
JJan-16
JJan-16
Feb-16
JJun-16
Aug-16
Aug-16
SSep-16
Oct-16
Jul-15
Jul-16
O
O
M
M
M
A
A
A
M
M
M
D
D
D
N
N
F
F
F
A
A
A
A
Over 80: strong probability of a turning point in the coming three months
Between 60 and 80: possibility of a turning point in the nine coming months
Figure: IESR indicator
1.0
0.5
0.0
Mar-15
Mar-16
Mayy-15
Mayy-16
pr-15
n-15
g-15
p-15
Occt-15
Novv-15
Decc-15
n-16
b-16
pr-16
n-16
g-16
p-16
ul-15
ul-16
Aug
Jan
Aug
Jun
Jun
Sep
Feb
Sep
Ju
Ju
Ap
Ap

Summary Analysis 1
Latest cyclical estimates for the EA and the EU
Figure: EA GDP, trend and cycle with HP filter Figure: EU28 GDP, trend and cycle with HP filter
( GDP, Trend) (Cycle) ( GDP, Trend) (Cycle)
2500000 120000 3250000 150000
2300000 80000 3050000 100000
50000
2100000 40000 2850000
0
1900000 0 2650000
50000
1700000 40000 2450000 100000
1500000 80000 2250000 150000

1995Q1
1997Q1
1999Q1
2001Q1
2003Q1
2005Q1
2007Q1
2009Q1
2011Q1
2013Q1
2015Q1
1995Q1
1997Q1
1999Q1
2001Q1
2003Q1
2005Q1
2007Q1
2009Q1
2011Q1
2013Q1
2015Q1
GDP Trend Cycle GDP Trend Cycle
Figure: EA GDP, trend and cycle with CF filter Figure: EU28 GDP, trend and cycle with CF filter
2500000 120000 3250000 150000
2300000 80000 3050000 100000
50000
2100000 40000 2850000
0
1900000 0 2650000
50000
1700000 40000 2450000 100000
1500000 80000 2250000 150000

1995Q1
1997Q1
1999Q1
2001Q1
2003Q1
2005Q1
2007Q1
2009Q1
2011Q1
2013Q1
2015Q1
1995Q1
1997Q1
1999Q1
2001Q1
2003Q1
2005Q1
2007Q1
2009Q1
2011Q1
2013Q1
2015Q1
Figure: EA GDP, trend and cycle with UC filter Figure: EU28 GDP, trend and cycle with UC filter
2500000 120000 3250000 150000
2300000 80000 3050000 100000
50000
2100000 40000 2850000
0
1900000 0 2650000
50000
1700000 40000 2450000 100000
1500000 80000 2250000 150000

1995Q1
1997Q1
1999Q1
2001Q1
2003Q1
2005Q1
2007Q1
2009Q1
2011Q1
2013Q1
2015Q1
1995Q1
1997Q1
1999Q1
2001Q1
2003Q1
2005Q1
2007Q1
2009Q1
2011Q1
2013Q1
2015Q1
Note: The estimation is based on GDP at market prices, in millions of euro, chain-linked volumes, seasonally and calendar adjusted, reference year 2010 (at 2010 exchange
rates), ESA 2010.
Source:

1 Summary Analysis
Figure: EA IPI,trend and cycle with HP filter Figure: EU28 IPI, trend and cycle with HP filter
( IPI, Trend) (Cycle) ( IPI, Trend) (Cycle)
120 12 120 12
115 9 115 9
110 6 110 6
105 3 105 3
100 0 100 0
95 3 95 3
90 6 90 6
85 9 85 9
80 12 80 12
75 15 75 15
1991M1
1993M1
1995M1
1997M1
1999M1
2001M1
2003M1
2005M1
2007M1
2009M1
2011M1
2013M1
2015M1
1995M1
1997M1
1999M1
2001M1
2003M1
2005M1
2007M1
2009M1
2011M1
2013M1
2015M1
IPI Trend Cycle IPI Trend Cycle
Figure: EA IPI, trend and cycle with CF filter Figure: EU28 IPI, trend and cycle with CF filter
120 12 120 12
115 9 115 9
110 6 110 6
105 3 105 3
100 0 100 0
95 3 95 3
90 6 90 6
85 9 85 9
80 12 80 12
75 15 75 15
1991M1
1993M1
1995M1
1997M1
1999M1
2001M1
2003M1
2005M1
2007M1
2009M1
2011M1
2013M1
2015M1
1995M1
1997M1
1999M1
2001M1
2003M1
2005M1
2007M1
2009M1
2011M1
2013M1
2015M1
Figure: EA IPI, trend and cycle with UC filter Figure: EU28 IPI, trend and cycle with UC filter
120 12 120 12
115 9 115 9
110 6 110 6
105 3 105 3
100 0 100 0
95 3 95 3
90 6 90 6
85 9 85 9
80 12 80 12
75 15 75 15
1991M1
1993M1
1995M1
1997M1
1999M1
2001M1
2003M1
2005M1
2007M1
2009M1
2011M1
2013M1
2015M1
1995M1
1997M1
1999M1
2001M1
2003M1
2005M1
2007M1
2009M1
2011M1
2013M1
2015M1

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

Summary Analysis 1
Figure: EA Employment, trend and cycle with HP filter Figure: EU28 Employment, trend and cycle with HP filter
( Emp.,Trend) (Cycle) ( Emp.,Trend) (Cycle)
155000 8000 235000 8000
150000 6000 230000 6000
145000 4000 225000 4000
140000 2000
220000 2000
135000 0
215000 0
130000 2000
125000 4000 210000 2000
120000 6000 205000 4000

115000 8000 200000 6000
1995Q1
1997Q1
1999Q1
2001Q1
2003Q1
2005Q1
2007Q1
2009Q1
2011Q1
2013Q1
2015Q1
1995Q1
1997Q1
1999Q1
2001Q1
2003Q1
2005Q1
2007Q1
2009Q1
2011Q1
2013Q1
2015Q1
Employment (Emp.) Trend Cycle Employment Trend Cycle
Figure: EA Employment, trend and cycle with CF filter Figure: EU28 Employment, trend and cycle with CF filter
155000 8000 235000 8000
150000 6000 230000 6000
145000 4000 225000 4000
140000 2000
220000 2000
135000 0
215000 0
130000 2000
125000 4000 210000 2000
120000 6000 205000 4000

115000 8000 200000 6000
1995Q1
1997Q1
1999Q1
2001Q1
2003Q1
2005Q1
2007Q1
2009Q1
2011Q1
2013Q1
2015Q1
1995Q1
1997Q1
1999Q1
2001Q1
2003Q1
2005Q1
2007Q1
2009Q1
2011Q1
2013Q1
2015Q1
Employment Trend Cycle Employment Trend Cycle

Figure: EA Employment, trend and cycle with UC filter Figure: EU28 Employment, trend and cycle with UC filter
155000 8000 235000 8000
150000 6000 230000 6000
145000 4000 225000 4000
140000 2000
220000 2000
135000 0
215000 0
130000 2000
125000 4000 210000 2000
120000 6000 205000 4000

115000 8000 200000 6000
1995Q1
1997Q1
1999Q1
2001Q1
2003Q1
2005Q1
2007Q1
2009Q1
2011Q1
2013Q1
2015Q1
1995Q1
1997Q1
1999Q1
2001Q1
2003Q1
2005Q1
2007Q1
2009Q1
2011Q1
2013Q1
2015Q1
Employment Trend Cycle Employment Trend Cycle
Note: The estimation is based on total employment (domestic concept) series, seasonally and calendar adjusted (in thousand of persons), ESA2010.
Source:

1 Summary Analysis
Methodological notes
DG ECFIN: Business Climate Indicator (monthly),
Indicators of growth and turning designed to deliver a clear and early assessment of the
points sources and methods cyclical situation of the euro area. The indicator uses,
as input, five balances of opinions from DG ECFINs
The EUROFRAME Euro Growth Indicator: calculated Business and Consumer Surveys. The resulting common
by the OFCE (Paris) in cooperation with the EUROFRAME factor may be read as a survey result: the higher the
group, which consists of: CPB (Den Haag), DIW (Berlin), level, the healthier the cyclical situation, and a rise in
ESRI (Dublin), ETLA (Helsinki), IFW (Kiel), NIESR (London), the indicator points to an upswing in activity and an
PROMETEIA (Bologna), WIFO (Vienna), and CASE improvement in business climate.
(Poland). The purpose of this leading indicator is to
anticipate the development of the GDP in the euro area DZ-Euroland-Indicator: calculated by DZ Bank
two quarters ahead of official statistics. The indicator (monthly), aims at predicting recessions and has also
considers surveys from industry, construction, and proved to reflect movements in GDP growth rate. It is
households, ISM survey of US industry, real euro/dollar built on concepts implemented by the US Conference
exchange rate, and European stock index. The indicator Board for monitoring cyclical indicators. Nine series for
is based on ordinary least squares (OLS) estimation of euro area or for the main countries are selected for their
the GDP growth rate, and released on a monthly basis. leading properties, and aggregated to give a composite
index which can be compared with the level of GDP in
-COIN: a real-time monthly estimate of euro area GDP order to anticipate recessions.
growth, computed each month by the Banca dItalia.
It is obtained by collecting a large set of statistics and IARC: prepared each month by the French institute
extracting from it information relevant to forecast future ACE - Analyzing Cycles in Economies. It is a monthly
GDP. It tracks GDP growth anticipating official GDP indicator aimed at forecasting turning points in the
releases by several months, by giving each month an growth cycle. Each month, the probability that each
early estimate of euro area growth in terms of quarter- selected series has crossed a turning point is computed.
on-quarter changes in GDP. Moreover, it sheds light on Probabilities are aggregated by a weighting method to
the underlying trend by removing short-run fluctuations give an overall signal of a possible downswing in the
and measurement errors from the growth rate; in this next nine months (a value of the indicator higher than
respect it is not only a forecast, but also an indicator of 60 and lower than 80), or a very probable downswing in
the true growth momentum in the euro area. the three coming months (a value higher than 80).
The OECD Composite Leading Indicator: designed IESR: prepared each month by the French institute
to predict cyclical turning points (peaks and troughs) ACE - Analyzing Cycles in Economies. It is a coincident
in GDP as a proxy of the business growth cycle of the indicator able to detect in real time peaks and troughs
overall economy. It comprises a set of component series of the business cycle. It is based on the Markov-
from a wide range of economic indicators. Switching model applied to various economic time
series. The filtered probabilities are combined by taking
IFO: Economic Climate Indicator, designed to give into account the risks of false signals in order to provide
an accurate picture of the economic situation and a recession probability (a value of the indicator higher
forecasts for economies on a quarterly basis. It consists than 0.5).
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.

Summary Analysis 1
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

2 8. Principal European
Economic Indicators
(PEEIs)

2 Principal European Economic Indicators (PEEIs)
Detailed PEEIs analysis for European Union (EU28)

Indicators Unit Reference Period
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
GDP (volume) Q/Q1 % (1) 0.4 0.5 0.5 0.4 0.4 Q/Q4 % 2.1 2.3 1.9 2.1 :
Private final consumption
Q/Q1 % (1) 0.6 0.4 0.7 0.4 : Q/Q4 % 2.2 2.1 2.3 2.3 :
(volume)
Investment (GFCF) (volume) Q/Q1 % ( ) 1
0.6 1.1 0.1 1.1 : Q/Q4 % 3.2 4.1 1.8 3.8 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
External trade balance
mn euro 5803.4 11846.7 5450.0 2598.1 3681.9 2714.9 4461.0 2505.4 41.1 2002.4 : :
(extra EU28) (2)
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
BOP Current account
mn euro 52711.1 55221.8 34272.9 38039.4 :
(extra EU28)
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
Inflation (Harmonized Index M/M1 % 0.1 0.0 1.2 0.1 1.0 0.1 0.3 0.2 0.4 0.1 0.2 :
of Consumer Prices All items) M/M12 % 0.1 0.2 0.3 0.1 0.0 0.2 0.1 0.1 0.2 0.3 0.4 :
M/M1 % 0.2 0.8 1.2 0.6 0.5 0.3 0.7 0.8 0.3 0.2 0.2 :
Industrial producer prices
M/M12 % 3.5 3.1 3.1 4.2 4.0 4.2 3.7 2.9 2.3 1.5 1.1 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
total (2) % 9.0 9.0 8.9 8.9 8.7 8.7 8.6 8.6 8.6 8.5 8.5 :
Unemployment
age <25 year (2) % 19.6 19.5 19.3 19.2 18.9 18.8 18.9 18.7 18.7 18.5 18.2 :
rate
age >25 year (2) % 7.9 7.9 7.8 7.8 7.7 7.6 7.6 7.6 7.5 7.5 7.5 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
Labour Cost Index Q/Q1 % (1) 0.3 0.6 0.3 0.2 : Q/Q4 % (3) 2.0 2.2 1.6 1.4 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
Employment Q/Q1 % (1) 0.4 0.4 0.4 0.3 : Q/Q4 % 1.1 1.3 1.4 1.4 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
M/M1 % (1) 0.4 0.5 2.2 1.2 0.5 1.6 1.3 0.6 0.7 1.4 : :
Industrial production
M/M12 % (3) 2.3 0.6 3.2 0.8 0.2 2.5 0.9 0.8 0.0 1.8 : :
M/M1 % (1) 0.9 0.2 1.1 0.4 1.6 0.5 0.2 0.0 0.3 1.3 : :
Production in construction
M/M12 % 1.5 2.0 4.1 3.8 0.3 0.9 0.0 0.3 1.0 0.5 : :
M/M1 % (1) 0.4 0.2 0.7 0.2 0.5 0.6 0.5 0.1 0.6 0.1 0.2 :
Retail trade deflated turnover
M/M12 % 3.3 3.0 2.9 3.3 2.4 2.7 2.9 2.6 3.0 2.6 2.2 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
General government deficit ()
% 2.0 2.4 2.3 1.4 :
/surplus (+)
General government gross debt % 85.9 85.0 84.5 84.3 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
Economic sentiment indicator (2) index 107.2 108.5 106.7 105.3 104.6 105.1 105.6 105.7 104.7 103.8 105.5 106.9
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
3month interest rate %
Long term government
% 1.44 1.47 1.42 1.28 1.19 1.19 1.18 1.08 0.85 0.78 0.83 :
bond yields
Eurodollar exchange rate Average
(1) sca: Seasonally and calendar adjusted data
(2) sa: Seasonally adjusted data
(3) ca: Calendar adjusted data, not seasonally adjusted data
: not available data; not existing data
The set of indicators is selected from the PEEIs list (COM/2002/661) and complemented by certain Monetary and Financial Indicators as well as the Economic Sentiment Indicator.
Indicator Source
Current account European Central Bank (ECB) for euro area only
3 months Interest rate ECB
Long term government bond yields ECB
Eurodollar exchange rate ECB
Economic Sentiment Indicator Directorate General for Economic and Financial Affairs (DG ECFIN)

Principal European Economic Indicators (PEEIs) 2
European Union (EU28)
Graph 1: Output Graph 2: Demand
Growth rate Index Growth rate Growth rate

4.0 115.0 (PFC,I) (RT)
5.0 5.0
3.0 110.0
4.0 4.0
2.0 105.0
3.0 3.0
1.0 100.0
2.0 2.0
0.0 95.0
1.0 1.0
1.0 90.0
0.0 0.0
2.0 85.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 1.0 1.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
GDP (q/q1) GDP (q/q4)
Industrial Production (m/m1) Industrial Production (m/m12) Private Final Consumption (PFC) (q/q1) PFC (q/q4)
Economic Sentiment Indicator Investment (I)(q/q1) I (q/q4)
Retail trade (RT) (m/m1) RT (m/m12)
Graph 3: Labour Graph 4: Prices
% Growth rate Growth Rate

9.8 3.0 2.0
1.0
9.4 2.0
0.0
9.0 1.0 1.0

2.0
8.6 0.0 3.0
30
4.0
8.2 1.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 5.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
Employment (q/q1) Employment (q/q4)
Labour cost index (q/q1) Labour cost index (q/q4) Industrial producer prices (m/m-1) HICP (m/m-1)
Unemployment rate Total (%)
Industrial producer prices (m/m-12) HICP (m/m-12)
Graph 5: External Transactions Graph 6: Financial
Mio EUR % /$
60000 6.0 1.6
50000 5.0 1.4
40000 4.0 1.2

30000
3.0 1
20000
2.0 0.8
10000
1.0 0.6
0
-10000 0.0 0.4

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
BOP current account (2) External trade balance (1) Long-term government bond yields rates Euro-dollar exchange rate
(1) external trade balance is a monthly basis data

(2) the BOP current account is a quarterly basis data

Detailed PEEIs analysis for Euro area

2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
GDP (volume) Q/Q1 % (1) 0.3 0.5 0.5 0.3 0.3 Q/Q4 % 2 2.2 1.6 2.2 :
Q/Q1 % (1) 0.5 0.3 0.6 0.2 : Q/Q4 % 2 1.7 2 2 :
(volume)
0.6 1.4 0.5 1.1 : Q/Q4 % 2.8 4.3 2.2 4.8 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
mn euro 21888 23414.7 20373.9 19734 24422.8 25048.3 23943.3 23571 20784.5 23253.8 : :
(extra EA19) (2)
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
BOP Current account
mn euro 32667 42223 9463 14376 36771 35943 16387 39063 31469 : : :
(extra EU29)
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
Inflation (Harmonized Index M/M1 % 0.1 0 1.4 0.2 1.2 0 0.4 0.2 0.6 0.1 0.4 0.3
of Consumer Prices All items) M/M12 % 0.1 0.2 0.3 0.2 0 0.2 0.1 0.1 0.2 0.2 0.4 0.5
M/M1 % 0.2 0.8 1.1 0.7 0.3 0.4 0.7 0.7 0.4 0.2 0.1 :
M/M12 % 3.2 2.9 2.9 4.1 4.1 4.4 3.8 3.1 2.6 1.9 1.5 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
total (2) % 10.5 10.5 10.4 10.3 10.2 10.1 10.1 10.1 10 10 10 :
Unemployment
age <25 year (2) % 21.9 21.8 21.7 21.6 21.2 21.1 21 20.9 20.8 20.6 20.3 :
rate
age >25 year (2) % 9.4 9.4 9.3 9.3 9.2 9.1 9 9 9 9 9 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
Labour Cost Index Q/Q1 % (1) 0.2 0.5 0.4 0 : Q/Q4 % (3) 1.3 1.6 1.6 1 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
Employment Q/Q1 % (1) 0.3 0.3 0.4 0.4 : Q/Q4 % 1.1 1.2 1.4 1.4 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
M/M1 % (1) 0.3 0.4 2.6 1.6 0.8 1.5 1.4 0.8 0.7 1.6 : :
M/M12 % (3) 2.2 0.5 3.5 0.6 0.1 2 0.4 0.7 0.5 1.8 : :
M/M1 % (1) 1.1 0.7 2.1 0.6 1.6 0 0.2 0.3 1.5 0.9 : :
M/M12 % 0.7 0.6 4.9 3.6 0.4 1.1 0.5 0.6 4.1 0.9 : :
M/M1 % (1) 0.1 0.6 0.3 0.3 0.5 0.2 0.4 0.1 0.3 0.2 0.2 :
M/M12 % 2.4 2.6 2.2 2.8 1.8 1.6 1.8 1.9 2 1.2 1.1 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
% 1.7 1.5 3 0.9 :
/surplus (+)
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
Economic sentiment indicator (2) index 106 106.6 105.1 103.9 103 104 104.6 104.4 104.5 103.5 104.9 106.3
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
3month interest rate % 0.09 0.13 0.15 0.18 0.23 0.25 0.26 0.27 0.29 0.3 0.3 0.31
% 1.17 1.2 1.16 1.04 0.92 0.92 0.91 0.81 0.62 0.58 0.63 :
bond yields
Eurodollar exchange rate Average 1.0736 1.0877 1.086 1.1093 1.11 1.1339 1.1311 1.1229 1.1069 1.1212 1.1212 1.1026
* Data refer to the EA19 aggregate (euro area with 19 Member States) with the exception of Inflation (HICP allitems ), 3 months Interest rate, Long term government bond yields and Eurodollar exchange
rate which refer to the evolving euro area aggregate, i.e. euro area with 11 Member States till 31/12/2000, euro area with 12 Member States from 01/01/2001 till 31/12/2006, euro area with 13 Member States
from 01/01/2007 till 31/12/2007, euro area with 15 Member States from 01/01/2008 till 31/12/2008, euro area with 16 Member States from 01/01/2009 till 31/12/2010, euro area with 17 Member States from
01/01/2011 till 31/12/2013, euro area with 18 Member States from 01/01/2014 till 31/12/2014, euro area with 19 Member States from 01/01/2014 till next euro area enlargement
Indicator Source

Euro area

4.0 115.0 (PFC,I) (RT)
5.0 5.0
3.0 110.0
4.0 4.0
2.0 105.0
3.0 3.0
1.0 100.0
2.0 2.0
0.0 95.0
1.0 1.0
1.0 90.0
0.0 0.0
2.0 85.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 1.0 1.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
GDP (q/q-1) GDP (Q/Q4)
Industrial Production (m/m-1) Industrial Production (m/m-12) Private Final Consumption (PFC)(q/q-1) PFC (Q/Q4)
Economic Sentiment Indicator Investment (I)(q/q-1) I (Q/Q4)
Retail trade (RT)(m/m-1) RT (m/m-12)
% Growth rate Growth Rate

12.0 3.0 2.0
1.0
11.5 2.0
0.0
11.0 1.0 1.0

2.0
10.5 0.0 3.0
30
4.0
10.0 1.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 5.0
Employment (q/q-1) Employment (Q/Q4)
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
Labour cost index (q/q-1) Labour cost index (Q/Q4) Industrial producer prices (m/m-1) HICP (m/m-1)
Unemployment rate Total (%)
Mio EUR % /$
50000 5.0 1.60
4.0 1.40
40000
3.0 1.20
30000
2.0 1.00
20000
1.0 0.80
10000 0.0 0.60
0 -1.0 0.40
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
External trade balance BOP current account 3-month interest rates

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

Detailed PEEIs analysis for Belgium

2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
GDP (volume) Q/Q1 % (1) 0.1 0.5 0.1 0.5 : Q/Q4 % 1.3 1.6 1.2 1.3 :
Q/Q1 % (1) 0.3 0.1 0 0.4 : Q/Q4 % 1 1 0.5 0.3 :
(volume)
2.1 1.8 2.1 1.8 : Q/Q4 % 4.3 2.5 4.6 7.9 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
mn euro 194 218.3 676.7 1027.8 293.9 407.7 0.8 136.6 613.3 254.2 : :
(extra euro area) (2)
1873.6 2069.7 2392.6 2620.2 1791.6 2061.5 1732.6 1936.5 2455.1 1704 : :
(extra EU28) (2)
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
BOP Current account
mn euro 157 2615 1698 155 :
(all countries of the world)
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
Inflation (Harmonized Index M/M1 % 0.1 0 1.7 1.7 0.8 0.2 0.4 0.4 1.1 1.3 0.4 :
of Consumer Prices All items) M/M12 % 1.4 1.5 1.8 1.1 1.6 1.5 1.6 1.8 2 2 1.8 :
M/M1 % 0.4 2 2.7 1.1 1.5 0.9 2.7 1.5 0.2 0.4 1.5 :
M/M12 % 3.8 3 3.8 6 6.3 6.9 5.2 3.4 2.2 1.5 0.6 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
total (2) % 8.7 8.6 8.3 8.2 8.1 8.2 8.2 8.3 8.2 8.2 8 :
Unemployment
age <25 year (2) % 24.5 24.5 20.5 20.5 20.5 21 21 21 21.2 21.2 21.2 :
rate
age >25 year (2) % 7.3 7.3 7.2 7.2 7.2 7.2 7.2 7.2 7.2 7.1 6.9 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
Labour Cost Index Q/Q1 % (1) 0 0 0 0 : Q/Q4 % (3) 0.1 0.1 0.2 0.1 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
Employment Q/Q1 % (1) 0.3 0.2 0.3 0.4 : Q/Q4 % 1 1 1.1 1.2 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
M/M1 % (1) 2.3 3.9 5.9 1.5 0.5 0.2 1.5 1.5 1.5 3.5 : :
M/M12 % (3) 2.9 0.4 5.2 6.5 2.6 3.7 1.5 5.4 5.6 1.1 : :
M/M1 % (1) 1.9 0.3 3.7 1.6 1.6 1.5 0.6 0.4 1.6 1.5 : :
M/M12 % 7.1 8.5 4.3 1.1 7.2 2.6 1.9 0.7 8.1 0.9 : :
M/M1 % (1) 0.5 0.1 1.4 0.4 0.8 0.9 0.7 0.1 0.2 0.7 0.8 :
M/M12 % 1.4 0.2 4 1.7 2.9 2.8 1.9 3.8 3.6 3.4 3.2 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
% 6 3.9 9.9 0.4 :
/surplus (+)
General government gross debt % 109 106 109.2 109.7 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
Economic sentiment indicator (2) index 103.5 104.5 102 99.6 101.2 102.4 103.8 108.6 107.3 103.7 102.3 101.7
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
% 0.84 0.89 0.86 0.72 0.62 0.55 0.55 0.43 0.2 0.15 0.18 :
bond yields
Indicator Source
Euro-dollar exchange rate ECB

Belgium

9.0 115.0 (PFC,I) (RT)
8.0 3
6.0 110.0 6.0 2
3.0 105.0 4.0 1
0.0 100.0 2.0 0
3.0 95.0 0.0 1
6.0 90.0 2.0 2

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
Private Final Consumption (PFC) (q/q-1)
GDP (q/q-1) Industrial Production (m/m-1) Economic Sentiment Indicator Investment (I) (q/q-1)
Retail trade (RT) (m/m-1)
% Growth Rate
Growth Rate
8.9 1.5
3.0
8.5 1.0 2.0
1.0
8.1 0.5
0.0
7.7 0.0 1.0

10
2.0
7.3 -0.5
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 3.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
Employment (q/q-1) Labour cost index (q/q-1)
Unemployment rate Total (%) Industrial producer prices (m/m-1) HICP (m/m-1)
Mio EUR % /$
3000 6.0 1.600
2000 5.0 1.400
1000 4.0 1.200
0 3.0 1.000
-1000 2.0 0.800
-2000 1.0 0.600
-3000 0.0 0.400

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
External trade balance BOP current account Long-term government bond yields - rates Euro-dollar exchange rate

Detailed PEEIs analysis for Bulgaria

2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
GDP (volume) Q/Q1 % (1) 0.9 0.9 0.8 0.9 : Q/Q4 % 3.8 3.6 3.6 3.5 :
Q/Q1 % (1) 1.9 1.1 1 0.1 : Q/Q4 % 6.4 7.5 2.5 1.2 :
(volume)
0.9 0.9 0.4 1.4 : Q/Q4 % 3.4 7.4 1.4 0.3 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
100.9 50.7 25.2 45.6 58.4 95.5 133.7 98.8 75.1 221.8 : :
(extra EU28) (2)
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
BOP Current account
mn euro 1044.8 782.3 266.6 513.4 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
Inflation (Harmonized Index M/M1 % 0.3 0.4 0.2 0.5 0.6 0.2 0 0.1 1 0 0.7 :
of Consumer Prices All items) M/M12 % 0.9 0.9 0.4 1 1.9 2.5 2.5 1.9 1.1 1.1 1.1 :
M/M1 % 0.6 0.6 0.7 0.4 0.6 0.5 0.1 0.4 0.1 0.2 0.3 :
M/M12 % 3.8 3.2 3 4 4 4.1 4.4 4.2 3.8 2.7 2.4 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
total (2) % 8 7.9 8 8 8.1 8 7.9 7.9 7.8 7.7 7.5 :
Unemployment
age <25 year (2) % 20.2 19.5 18.6 17.6 16 15.5 15.2 15.4 14.6 14.8 14.9 :
rate
age >25 year (2) % 7.3 7.3 7.4 7.5 7.6 7.5 7.5 7.5 7.5 7.3 7.2 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
Employment Q/Q1 % (1) 0.1 0.1 0.3 0.5 : Q/Q4 % 0.2 0.3 0.9 1.5 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
M/M1 % (1) 0.5 1.4 0.4 0.2 0.7 0.4 1.7 3.9 1.6 0.6 0.3 :
M/M12 % (3) 2.2 3.5 2.3 2.7 2.6 2.6 3.4 3.9 2.3 2.5 3.4 :
M/M1 % (1) 1.5 0.7 1.9 0.7 0.6 2.1 0.8 2.3 0.9 0.6 0.5 :
M/M12 % 0.4 2.2 10.4 5.2 8.8 10.4 8.2 13.1 11.7 10 10.1 :
M/M1 % (1) 0.2 0.2 0.6 1.8 0.8 0.7 1.1 0.9 1.3 0.3 0.2 :
M/M12 % 0.9 1.7 1.3 3.3 6.3 5.4 4 5.4 2.2 5.3 1.9 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
% 1.8 8.5 3 4.4 :
/surplus (+)
General government gross debt % 26.5 26 29.6 29.4 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
Economic sentiment indicator (2) index 105.2 105.8 105 104.8 104.2 104.3 103.2 105.7 105.9 105.3 107 106.9
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
3month interest rate % 0.49 0.47 0.28 0.19 0.15 0.13 0.14 0.13 0.13 0.15 0.14 :
% 2.99 2.43 2.44 2.67 2.66 2.44 2.37 2.4 2.39 2.28 2.15 :
bond yields
New bulgarian Lev exchange
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
rates against the euro
Indicator Source

Bulgaria

4.0 115.0 (PFC,I) (RT)
4.0 3
2.0 110.0 2.0 2
0.0 1
0.0 105.0
2.0 0
2.0 100.0
4.0 1
4.0 95.0 6.0 2

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
% Growth Rate
Growth Rate
9.5 3.0
3.0
9.0 2.0 2.0
8.5 1.0 1.0
0.0
8.0 0.0
1.0
10
7.5 -1.0
2.0
7.0 -2.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 3.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
Mio EUR Bulgarian Lev/$

%
1500 5.0 1.970
1200 4.0 1.960
900 3.0
1.950
600 2.0
1.940
300 1.0
0 0.0 1.930
-300 -1.0 1.920

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
-600
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 3-month interest rates
External trade balance BOP current account Bulgarian Lev exchange rates against the euro

Detailed PEEIs analysis for Czech Republic

2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
GDP (volume) Q/Q1 % (1) 1 0.3 0.4 0.9 : Q/Q4 % 4.2 4.3 2.7 3.6 :
Q/Q1 % (1) 0.5 0.9 0.6 0.1 : Q/Q4 % 2.4 2.9 2.4 2.6 :
(volume)
1.3 0.5 2.1 4.1 : Q/Q4 % 10.1 9.5 0.5 4.1 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
475.9 464.7 269 244.6 298.8 262.9 196.9 266.9 172 187.6 : :
(extra EU28) (2)
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
BOP Current account
mn euro 1312.9 539.7 4061.4 2.1 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
Inflation (Harmonized Index M/M1 % 0.4 0.2 0.6 0.1 0 0.6 0.2 0.1 0.4 0.2 0.2 :
of Consumer Prices All items) M/M12 % 0 0.1 0.5 0.5 0.3 0.5 0 0.1 0.5 0.6 0.5 :
M/M1 % 0.4 0.5 1.6 0.7 0 0.1 0.4 0.3 0 0.2 0.3 :
M/M12 % 3.7 2.9 3.4 4 4.5 4.7 4.8 4.4 3.9 3.4 2.4 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
total (2) % 4.5 4.5 4.3 4.2 4 4 4 4.2 4.1 3.8 4 :
Unemployment
age <25 year (2) % 11.1 10.8 10.5 9.9 9.8 10.1 10.7 11.7 11.3 10.9 9.8 :
rate
age >25 year (2) % 4 4 3.9 3.8 3.7 3.6 3.6 3.7 3.7 3.3 3.6 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
Labour Cost Index Q/Q1 % (1) 0 5.8 3.8 1.4 : Q/Q4 % (3) 0.9 8.9 0.3 3.2 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
Employment Q/Q1 % (1) 0.1 0.3 1.2 0.3 : Q/Q4 % 1.3 1.3 1.9 1.6 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
M/M1 % (1) 1.3 1.6 3.6 0.8 1.5 1.3 0.2 2.3 9.8 11.9 1.6 :
M/M12 % (3) 2.9 0.6 4.2 1.8 4.1 1.4 1.4 4 7.6 7.7 2.7 :
M/M1 % (1) 0 2.2 0.5 1.1 3 3.2 2.1 3.1 0.1 0.8 0.1 :
M/M12 % 1.1 1.8 7.8 3.3 11.1 15 9.4 12.5 12.6 8.4 7.4 :
M/M1 % (1) 0.4 0.8 1.3 0.2 0.4 1.1 0.4 1.3 0.2 0.1 0.7 :
M/M12 % 6.3 6.6 6.2 5.2 5.1 6.3 4.4 6.3 5 5.6 4.7 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
% 0.8 2.6 0.8 1.8 :
/surplus (+)
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
% 0.49 0.49 0.62 0.46 0.35 0.43 0.46 0.45 0.37 0.29 0.25 :
bond yields
Czech Koruna exchange rates
Average 27.04 27.03 27.03 27.04 27.05 27.03 27.03 27.06 27.04 27.02 27.02 27.02
against the euro
Indicator Source

Czech Republic

15.0 115.0 (PFC,I) (RT)
10.0 3
10.0 110.0
5.0 2
5.0 105.0
0.0 1
0.0 100.0
5.0 0
5.0 95.0
10.0 90.0 10.0 1
15.0 85.0 15.0 2

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
% Growth Rate
Growth Rate
5.3 6.0
3.0
5.0 4.0 2.0
4.7 2.0 1.0
0.0
4.4 0.0
1.0
10
4.1 -2.0
2.0
3.8 -4.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 3.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
Mio EUR Czech Koruna/

%
4500 5.0 29.0
4000 4.0 28.0
3500
3000 3.0 27.0
2500
2.0 26.0
2000
1500 1.0 25.0
1000
500 0.0 24.0
0
-1.0 23.0
-500
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
-1000
External trade balance BOP current account Czech Koruna exchange rates against the euro

Detailed PEEIs analysis for Denmark

2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
GDP (volume) Q/Q1 % (1) 0.6 0.2 0.7 0.4 : Q/Q4 % 0.6 0 0.3 0.8 :
Q/Q1 % (1) 0.9 0.5 0.6 0.5 : Q/Q4 % 2.4 2.2 1.6 2.9 :
(volume)
0.4 1.2 0.4 1.2 : Q/Q4 % 0.1 0.7 1.5 1.2 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
999.5 936.9 1057.7 849.4 1033.9 1113.3 782.4 922.1 1077.2 917.1 : :
(extra EU28) (2)
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
BOP Current account
mn euro 7488.9 5947.5 3435.2 6511.4 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
Inflation (Harmonized Index M/M1 % 0.2 0.1 0.5 0.5 0.1 0.2 0.2 0.1 0.1 0.4 0 :
of Consumer Prices All items) M/M12 % 0.1 0.3 0.4 0.1 0.3 0.3 0.1 0.1 0.1 0 0.3 :
M/M1 % 0.9 2.4 1.7 2.6 0.8 0.5 0.3 2.5 1.3 0.1 0.3 :
M/M12 % 4.9 5.8 2.3 6.4 5 4.9 4.2 1 0.4 1.4 0.7 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
total (2) % 6.1 6 5.9 5.9 6 6.1 6.2 6.1 6.3 6.3 6.3 :
Unemployment
age <25 year (2) % 10.7 11.1 11.1 11.4 11.2 11.9 11.3 11.8 12.6 12.1 12 :
rate
age >25 year (2) % 5.2 5.1 5 4.9 5 5.1 5.2 5.1 5.1 5.2 5.2 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
Employment Q/Q1 % (1) 0.3 0.5 0.5 0.5 : Q/Q4 % 1.1 1.3 1.5 1.9 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
M/M1 % (1) 1.2 3.6 3 0.9 0.2 1.1 0.2 0.3 2.1 1.6 : :
M/M12 % (3) 3.1 1 4.8 3 0.9 1.6 3.9 1.5 7.1 0.1 : :
M/M1 % (1) 0.3 0.6 0.9 0.8 4.9 7.4 4.5 1.1 1.6 1 : :
M/M12 % 3.3 7.1 5.6 5.8 10.1 1.2 7.5 7.7 8 2.2 : :
M/M1 % (1) 0.3 1.7 1.1 0.4 1.5 2.2 1 0.9 0.6 0.1 0.7 :
M/M12 % 1.6 0.5 1.4 0.4 3.4 1.7 3.5 1.2 0.7 0.9 1 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
% 1.3 0.6 2.9 0.4 :
/surplus (+)
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
Economic sentiment indicator (2) index 101.8 103 102.3 100.5 99.9 98.8 98.9 102.4 100 97.9 97.6 97.1
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
% 0.81 0.83 0.79 0.55 0.51 0.4 0.41 0.23 0.07 0.04 0.01 :
bond yields
Danish Krone exchange rates
Average 7.46 7.46 7.46 7.46 7.47 7.44 7.44 7.44 7.44 7.44 7.45 7.44
against the euro
Indicator Source

Denmark

9.0 105.0 (PFC,I) (RT)
10.0 3
6.0 5.0 2
100.0
3.0 0.0 1
95.0
0.0 5.0 0
90.0
3.0 10.0 1
6.0 85.0 15.0 2

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
% Growth Rate
Growth Rate
8.0 1.5
3.0
7.5 1.0 2.0
7.0 0.5 1.0
0.0
6.5 0.0
1.0
10
6.0 -0.5
2.0
5.5 -1.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 3.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
Mio EUR Danish Krone/

%
7000 5.0 7.470
6000 4.0 7.460
5000 3.0
7.450
4000 2.0
7.440
3000 1.0
2000 0.0 7.430
1000 -1.0 7.420

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
0
External trade balance BOP current account Danish Krone exchange rates against the euro

Detailed PEEIs analysis for Germany

2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
GDP (volume) Q/Q1 % (1) 0.2 0.4 0.7 0.4 : Q/Q4 % 1.8 2.1 1.5 3.1 :
Q/Q1 % (1) 0.6 0.4 0.3 0.2 : Q/Q4 % 2.2 2.1 1.7 2.4 :
(volume)
0.1 1.7 1.7 1.5 : Q/Q4 % 1.7 4.1 2.9 4.4 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
mn euro 19931 20895.5 18061.8 19743.3 21503.8 20930.5 19706.7 20848.7 18600.6 20285 : :
14346.7 15488.4 12892.3 14733.7 15559.1 15532.5 14515.8 15345.8 13723.1 14888.1 : :
(extra EU28) (2)
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
BOP Current account
mn euro 65959 73452 64695 72813 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
Inflation (Harmonized Index M/M1 % 0 0 1 0.4 0.8 0.5 0.4 0.1 0.4 0.1 0 :
of Consumer Prices All items) M/M12 % 0.2 0.2 0.4 0.2 0.1 0.3 0 0.2 0.4 0.3 0.5 :
M/M1 % 0.2 0.4 0.8 0.5 0.1 0 0.3 0.5 0.2 0.1 0.2 :
M/M12 % 2.4 2.2 2.3 3 3 3 2.7 2.1 1.9 1.6 1.4 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
total (2) % 4.5 4.4 4.4 4.3 4.3 4.2 4.2 4.2 4.2 4.1 4.1 :
Unemployment
age <25 year (2) % 7.2 7.2 7.2 7.2 7.2 7.2 7.1 7 7 6.9 6.8 :
rate
age >25 year (2) % 4.2 4.1 4.1 4 4 3.9 3.9 3.9 3.9 3.8 3.8 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
Employment Q/Q1 % (1) 0.3 0.3 0.3 0.3 : Q/Q4 % 1 1.2 1.3 1.2 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
M/M1 % (1) 0.4 0 2.8 1.1 0.8 0.8 1.2 1.2 1.8 3.4 1.9 :
M/M12 % (3) 0 1.1 2.7 1.2 0.3 1 0.2 1.1 1.7 2.5 1.2 :
M/M1 % (1) 1.3 0.5 2.4 2.5 3.8 2 0.1 0.2 1.4 0.1 1.5 :
M/M12 % 0 1.5 1 7.9 0.2 0.9 0.8 1 2.2 1.2 0.8 :
M/M1 % (1) 0.5 0.9 0.1 0.1 0.9 0.1 0.7 0 0.5 0.3 1.4 :
M/M12 % 2 3.1 2.2 2.1 0.8 0.8 1.4 1.7 1.5 1 0.4 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
% 0.6 0.2 0.3 2.1 :
/surplus (+)
General government gross debt % 72 71.2 70.9 70.1 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
Economic sentiment indicator (2) index 106.8 106.8 104.7 104.1 104 104.4 104.8 106.4 106.6 105.5 107.1 108.7
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
% 0.52 0.55 0.43 0.17 0.17 0.13 0.13 0.02 0.15 0.13 0.09 :
bond yields
Indicator Source

Germany

6.0 115.0 (PFC,I) (RT)
3.0 3
3.0 110.0 2.0 2
1.0 1
0.0 105.0
0.0 0
3.0 100.0
1.0 1
6.0 95.0 2.0 2

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
% Growth Rate
Growth Rate
6.0 2.0
3.0
5.5 1.5
2.0
5.0 1.0
1.0
4.5 0.5
0.0
4.0 0.0
1.0
3.5 -0.5
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 2.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
Mio EUR % /$
80000 5.0 1.600
4.0 1.400
60000
3.0 1.200
40000 2.0 1.000
1.0 0.800
20000
0.0 0.600
0 -1.0 0.400
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

Detailed PEEIs analysis for Estonia

2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
GDP (volume) Q/Q1 % (1) 0.5 1.1 0.5 0.5 : Q/Q4 % 1.9 0.8 1.5 0.8 :
Q/Q1 % (1) 0.8 0.4 1.2 0.6 : Q/Q4 % 5.3 2.3 3.9 3.1 :
(volume)
1.7 5.8 0.5 1.8 : Q/Q4 % 2.7 0.1 1.2 5.4 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
mn euro 62.4 83.8 34.4 17 92.5 79.1 62.4 63 55.5 71.6 : :
58.8 49.5 33.5 46.3 89.4 68.9 37.3 78.3 53.5 69.7 : :
(extra EU28) (2)
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
BOP Current account
mn euro 168.3 82.7 85.6 104.6 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
Inflation (Harmonized Index M/M1 % 0.3 0.7 0.2 0.8 0.8 0.1 0.4 0.5 0 0.1 0 :
of Consumer Prices All items) M/M12 % 0.5 0.2 0.1 0.4 0.5 0 0 0.4 0.8 1.1 1.7 :
M/M1 % 1.1 2 4.5 5.2 1.6 0.9 0.6 1.6 2.3 0 0.6 :
M/M12 % 3.2 5.5 0 5.1 3.9 4.9 3.5 2.5 3.3 3.9 2.5 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
total (2) % 6.6 6.4 6.2 6.1 6.5 6.4 6.6 7 7 7.6 : :
Unemployment
age <25 year (2) % 17 17.9 16.4 12.6 10.7 11.6 12.9 15.2 15.2 14.6 : :
rate
age >25 year (2) % 5.7 5.4 5.4 5.6 6.1 5.9 6 6.3 6.3 7 : :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
Labour Cost Index Q/Q1 % (1) 1.2 0.9 2 0.7 : Q/Q4 % (3) 6.2 4.9 7 4.8 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
Employment Q/Q1 % (1) 2 2.1 0.5 1.7 : Q/Q4 % 4.4 1.2 0.9 2 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
M/M1 % (1) 2.6 1.5 4.6 0.3 3.1 5.3 3.2 2 4.6 0.5 5.2 :
M/M12 % (3) 6.3 8.2 0.3 1.8 4.7 0.5 2.1 3.6 2.2 0.9 6.5 :
M/M1 % (1)
M/M12 %
M/M1 % (1) 0.9 2.5 1.8 2.2 1.7 1.9 1 1.1 1.3 0.6 1.5 :
M/M12 % 1.7 6.5 8.9 5.8 2.5 5 5.4 3.1 2.9 3 4.8 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
% 2.1 0.1 1.1 1.9 :
/surplus (+)
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
Economic sentiment indicator (2) index 99.7 100.2 101.3 99 99.2 99.5 99.7 100.3 102.1 101.3 102.9 104
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
% : : : : : : : : : : : :
bond yields
Indicator Source

Estonia

9.0 105.0 (PFC,I) (RT)
6.0 6
6.0 4.0 4
100.0
3.0 2.0 2
95.0
0.0 0.0 0
90.0
3.0 2.0 2
6.0 85.0 4.0 4

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
% Growth Rate
Growth Rate
8.0 4.0
6.0
7.5 4.0
2.0
7.0 2.0
0.0
0.0
6.5
-2.0 2.0
6.0
4.0
5.5 -4.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 6.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
Employment (q/q-1) Labour cost index (q/q-1) Unemployment rate Total (%)
Mio EUR %
150 1.4
100 1.3
50
1.2
0
1.1
-50
-100 1.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
External trade balance BOP current account Euro-dollar exchange rate

Detailed PEEIs analysis for Ireland

2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
GDP (volume) Q/Q1 % (1) 2.4 3.4 2.1 0.6 : Q/Q4 % 24.4 28.4 3.9 4.1 :
Q/Q1 % (1) 1.1 0.9 0.7 0.5 : Q/Q4 % 5.5 4.8 5.1 1.8 :
(volume)
3.4 2.7 14.4 38.9 : Q/Q4 % 36.6 26.5 3.7 21.2 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
mn euro 2251.1 2447.8 2434.5 2210.5 2427.4 2773.4 2208.4 2845.4 2613.2 2719.2 : :
2638.3 2872.8 2787.6 2582.3 2737 3112.6 2481.6 3288.9 2922.7 2980.9 : :
(extra EU28) (2)
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
BOP Current account
mn euro 6924 7167 8955 4643 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
of Consumer Prices All items) M/M12 % 0.1 0.2 0 0.2 0.6 0.2 0.2 0.1 0.1 0.4 0.3 :
M/M1 % 0.2 0.3 1.4 1.4 0.1 1.3 0.6 1.1 0.1 1.1 0.1 :
M/M12 % 4.8 3.8 2.7 3.2 5.8 4.6 3.6 2.8 4 4.1 2.3 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
total (2) % 9.1 8.9 8.5 8.3 8.3 8.3 8.3 8.4 8.3 8.2 7.9 7.7
Unemployment
age <25 year (2) % 20.3 19.4 17.8 17.2 17 17.1 17.3 17.9 17.6 17.1 15.9 15.1
rate
age >25 year (2) % 8 8 7.7 7.5 7.4 7.4 7.4 7.4 7.3 7.3 7.1 7
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
Employment Q/Q1 % (1) Q/Q4 % 2.9 2.3 2.4 2.9 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
M/M1 % (1) 1.8 0.6 18.2 16.6 16.3 21.6 8.2 7.6 7.9 12.9 6.4 :
M/M12 % (3) 31.5 45.8 35.9 9.3 19.4 0.8 0.7 1.7 5.1 7.5 0.9 :
M/M1 % (1)
M/M12 %
M/M1 % (1) 4 1.8 0.6 0.7 0.3 0.4 1.4 1.5 0.1 0.6 0.1 :
M/M12 % 9.4 5.4 6.3 6.8 6.1 3.1 6.4 4.4 3.1 3.7 3 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
% 1.4 2.3 2.3 0.3 :
/surplus (+)
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
Economic sentiment indicator (2) index
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
% 1.1 1.11 1.05 0.99 0.85 0.86 0.84 0.76 0.47 0.4 0.42 :
bond yields
Indicator Source

Ireland
Growth rate Growth rate Growth rate

(PFC,I) (RT)
30.0 5.0 6
20.0 0.0
4
10.0 5.0
2
0.0 10.0
0
10.0 15.0
20.0 2
20.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
Investment (I) (q/q-1)
GDP (q/q-1) Industrial Production (m/m-1) Retail trade (RT) (m/m-1)
% Growth Rate
Growth Rate
9.5 1.5
3.0
9.0 1.0 2.0
8.5 0.5 1.0
0.0
8.0 0.0
1.0
7.5 -0.5
2.0
7.0 -1.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 3.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
Labour cost index (q/q-1) Unemployment rate Total (%)

Mio EUR % /$
10000 6.0 1.600

9000
5.0 1.400
8000
7000 4.0 1.200
6000
5000 3.0 1.000
4000
2.0 0.800
3000
2000 1.0 0.600
1000
0 0.0 0.400
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

Detailed PEEIs analysis for Greece

2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
GDP (volume) Q/Q1 % (1) 1.1 0.2 0.2 0.2 : Q/Q4 % 1.7 0.7 0.9 0.4 :
Q/Q1 % (1) 1.1 0.1 0.3 0.2 : Q/Q4 % 1.4 1.2 1.7 0.6 :
(volume)
5.4 19.9 6.6 1 : Q/Q4 % 13.6 4.9 1.5 6.4 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
mn euro 780.6 884.7 716.5 960.9 596 1275.8 798 759.4 890.5 631 : :
644.6 768.5 628.2 836.1 490.1 1142.8 652.5 623.3 756.6 493.3 : :
(extra EU28) (1)
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
BOP Current account
mn euro 5634 1688 2372 420 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
Inflation (Harmonized Index M/M1 % 0.7 0 1.7 0 1.1 0.7 0 1.3 1.2 0 0.7 :
M/M1 % 0.1 2.4 2.9 0.5 1.8 0.2 1.3 0.5 1 0.2 0.4 :
M/M12 % 6.6 5.7 6.3 9.9 9 8.8 8.1 7.3 7 4.1 3.2 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
total (1) % 24.5 24.2 24.3 23.9 23.8 23.5 23.6 23.4 23.2 : : :
Unemployment
age <25 year (2) % 48.9 50.1 50.9 50.5 50 49.7 49.8 46.5 42.7 : : :
rate
age >25 year (2) % 23 22.7 22.8 22.4 22.3 22 22.1 22.1 22 : : :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
Labour Cost Index Q/Q1 % (1) : : : : : Q/Q4 % (3) : : : : :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
Employment Q/Q1 % (1) 0.6 0.3 0.1 0.5 : Q/Q4 % 2.2 2.5 2.4 1.3 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
M/M1 % (2) 3.8 2.4 1.5 4.4 0.3 4.1 4.3 4.1 0.7 0.3 : :
M/M12 % (3) 2.7 7 4.4 3 3.8 3.4 3.4 8 4.7 0.5 : :
M/M1 % (2)
M/M12 %
M/M1 % (2) 1.6 1.7 0.8 3.4 4.1 0.7 1.6 0.9 4.7 4.4 : :
M/M12 % 4.4 0.2 1.7 6.8 1.2 2 6.3 3.6 9.5 2.6 : :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
% 1.8 15.4 3.6 0.4 :
/surplus (+)
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
Economic sentiment indicator (1) index 87.1 87.6 91.6 89 90.1 90.3 89.7 89.7 90.9 92.5 91.4 93.8
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
% 7.41 8.21 9.08 10.41 9.12 9.03 7.64 7.92 7.99 8.19 8.34 :
bond yields
Indicator Source

Greece

9.0 95.0 (PFC,I) (RT)
30.0 6
6.0 90.0 20.0 4
2
3.0 85.0 10.0
0
0.0 80.0 0.0
2
3.0 75.0 10.0 4
6.0 70.0 20.0 6

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
% Growth Rate
Growth Rate
25.5 1.5
2.0
25.0 1.0 1.0
24.5 0.5 0.0
1.0
24.0 0.0
2.0
20
23.5 -0.5
3.0
23.0 -1.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 4.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
Employment (q/q-1) Unemployment rate Total (%)

Mio EUR % /$
0 12.0 1.600
-500 10.0 1.400
-1000 8.0 1.200
6.0 1.000
-1500
1500
4.0 0.800
-2000
2.0 0.600
-2500
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

Detailed PEEIs analysis for Spain

2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
GDP (volume) Q/Q1 % (1) 0.9 0.8 0.8 0.8 : Q/Q4 % 3.5 3.3 3.5 3.6 :
Q/Q1 % (1) 1 0.7 1 0.6 : Q/Q4 % 3.7 2.8 3.8 3.3 :
(volume)
0.7 0.9 1 1.2 : Q/Q4 % 6.6 6 4.7 4 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
mn euro 742.1 666.5 1394.2 1276.9 1214.9 567.5 958 1500.7 995.2 1478.5 : :
1181.8 817.9 1758 1646.6 1580.5 1012.6 1328.7 1841.9 1586.5 1848.3 : :
(extra EU28) (2)
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
BOP Current account
mn euro 5724 7034 600 7274 :
(All countries of the world)
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
Inflation (Harmonized Index M/M1 % 0.3 0.4 2.5 0.4 2 0.5 0.5 0.4 1.3 0 0.7 :
of Consumer Prices All items) M/M12 % 0.4 0.1 0.4 1 1 1.2 1.1 0.9 0.7 0.3 0 :
M/M1 % 0.1 0.8 2.6 1.1 0.6 0.2 0.9 1.9 0 0.2 0.3 :
M/M12 % 2.6 2.2 4.3 5.6 5.4 6 5.5 4.5 4.6 3.1 2 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
total (2) % 20.9 20.7 20.5 20.4 20.3 20.2 20.1 19.9 19.6 19.4 19.3 :
Unemployment
age <25 year (2) % 46.6 46.4 46 46.1 46 46.1 45.7 45 43.8 43.1 42.6 :
rate
age >25 year (2) % 19.1 18.9 18.8 18.6 18.5 18.4 18.3 18.1 17.9 17.8 17.7 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
Labour Cost Index Q/Q1 % (1) 0.2 0.5 0 0.2 : Q/Q4 % (3) 0 1.6 0.4 0.4 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
Employment Q/Q1 % (1) 0.6 0.5 0.7 0.6 : Q/Q4 % 2.7 2.5 2.8 2.5 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
M/M1 % (1) 0.1 0 0.2 0.4 1.4 0.2 0.6 0.1 0.2 2 1.2 :
M/M12 % (3) 4.9 4.4 3.4 1.8 3.6 2.8 1.1 0.3 0.9 4.4 0.3 :
M/M1 % (1) 0.8 1.8 2.5 0.8 1 2.6 2.7 1 2.1 3 : :
M/M12 % 0.2 6 20.4 12.8 7.3 6 2.7 5.1 15.8 4.3 : :
M/M1 % (1) 0.1 0.2 0.3 0.5 0.3 0.3 0.2 1.1 0.4 0.3 0.2 :
M/M12 % 3.2 2.4 3.7 4.2 4.6 4.3 2.1 5.7 5.3 3.3 3.3 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
% 0.6 7.9 3.1 9.1 :
/surplus (+)
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
Economic sentiment indicator (2) index 108.6 111.9 107.8 107.3 106.9 106.1 105.7 106.5 106 104.5 105 107.6
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
% 1.72 1.69 1.72 1.72 1.54 1.53 1.57 1.48 1.17 1.01 1.04 :
bond yields
( ) sca: Seasonally and calendar adjusted data
1

Indicator Source

Spain

9.0 120.0 (PFC,I) (RT)
6.0 3
6.0 115.0 4.0 2
3.0 110.0 2.0 1
0.0 105.0 0.0 0
3.0 100.0 2.0 1
6.0 95.0 4.0 2

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
% Growth Rate
Growth Rate
24.0 2.0
3.0
23.0 1.5 2.0
22.0 1.0 1.0
0.0
21.0 0.5
1.0
10
20.0 0.0
2.0
19.0 -0.5
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 3.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
Mio EUR % /$
8000 6.0 1.600
6000 5.0 1.400
4000 4.0 1.200
2000 3.0 1.000
0 2.0 0.800
-2000 1.0 0.600
-4000 0.0 0.400

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

Detailed PEEIs analysis for France

2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
GDP (volume) Q/Q1 % (1) 0.4 0.3 0.6 0.1 0.2 Q/Q4 % 1.1 1.4 1.5 1.9 1
Q/Q1 % (1) 0.5 0 1.1 0 0 Q/Q4 % 1.6 1.1 1.8 2 1
(volume)
0.8 1.2 1.2 0 0.3 Q/Q4 % 0.7 2.6 3 4.2 2.8
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
mn euro 2149.1 2122.7 2986.2 1794.7 1943.4 2314.9 3866 2056.9 1175.5 2223.5 : :
1646.3 1926.9 2576.1 1365.6 1693.9 2240.2 3587.6 1663.1 854.7 1803.8 : :
(extra EU28) (2)
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
BOP Current account
mn euro 1278 271 16080 3913 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
M/M1 % 0.2 1.2 1 0.5 0.3 0.7 0.5 0.4 0.1 0 0.1 :
M/M12 % 2.4 2.7 2.7 4.2 3.9 4.3 3.3 3.1 2.9 1.8 1.7 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
total (2) % 10.2 10.2 10.2 10.3 10.1 9.9 9.9 10 10.3 10.5 10.2 :
Unemployment
age <25 year (2) % 24.5 24.5 24.7 24.9 24.6 24.2 24.2 24.4 24.3 24.7 23.9 :
rate
age >25 year (2) % 8.7 8.7 8.7 8.8 8.6 8.4 8.4 8.6 8.8 9 8.8 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
Labour Cost Index Q/Q1 % (1) 0.2 0.5 0.9 : : Q/Q4 % (3) 1.2 1.3 2 1.4 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
Employment Q/Q1 % (1) 0.2 0.2 0.2 0.2 : Q/Q4 % 0.5 0.7 0.8 0.6 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
M/M1 % (1) 0.7 0.7 1.2 1.2 0.2 1 0.5 0.8 0.5 2.1 : :
M/M12 % (3) 3.6 1.1 2.1 0.7 0.5 2.1 0.6 1.3 0.3 0.1 : :
M/M1 % (1) 1.5 3.4 4.1 4.8 1.8 2.7 0.8 0.3 3.3 2.6 : :
M/M12 % 0 4.8 0.4 4.5 7.5 3 3.1 2.2 1.8 2.1 : :
M/M1 % (1) 0.5 1.2 0.6 0.3 0.4 0.6 0 0.2 0.3 0.3 0.5 :
M/M12 % 2.5 3.7 3.1 4 3.9 3 2.7 2.1 1.9 1.2 1.8 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
% 4.2 0.5 6.7 2.2 :
/surplus (+)
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
Economic sentiment indicator (2) index 102.6 102 103.5 103.6 102.1 101.3 102.7 101 100.1 101.3 101.8 101.5
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
% 0.88 0.93 0.84 0.59 0.51 0.51 0.51 0.39 0.17 0.15 0.18 :
bond yields
Indicator Source

France

9.0 105.0 (PFC,I) (RT)
6.0 3
6.0 4.0 2
100.0
3.0 2.0 1
95.0
0.0 0.0 0
90.0
3.0 2.0 1
6.0 85.0 4.0 2

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
% Growth Rate
Growth Rate
1.5
10.9 3.0
1.0 2.0
10.5
1.0
10.1 0.5
0.0
0.0 1.0
10
9.7
2.0
9.3 -0.5
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 3.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
Mio EUR % /$
5000 6.0 1.600
5.0 1.400
0
4.0 1.200
-5000
3.0 1.000
-10000
2.0 0.800
-15000 1.0 0.600
-20000 0.0 0.400

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

Detailed PEEIs analysis for Croatia

2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
GDP (volume) Q/Q1 % (1) 1.3 0.6 0.6 0.5 : Q/Q4 % 2.8 1.8 2.7 2.8 :
Q/Q1 % (1) 0.5 0.9 0.6 0.8 : Q/Q4 % 1.5 2.6 3.1 3 :
(volume)
1.8 0.5 2 2 : Q/Q4 % 2.5 3.4 4.3 6.5 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
18.9 30.4 11.5 37.9 10.7 6.1 30.5 50.8 13.7 44.5 : :
(extra EU28) (2)
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
BOP Current account
mn euro 3913.6 456 1585.1 154.8 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
M/M1 % 0.6 1 1 0.8 1.1 1.5 0.1 1.2 0.7 1.4 1.5 :
M/M12 % 4.3 4.1 2.8 4.8 5 5.8 6.3 4.8 5 5 3 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
total (2) % 15.7 15.1 14.7 14.3 13.9 13.6 13.2 13.1 13 12.8 12.6 :
Unemployment
age <25 year (2) % 40.3 40.3 31.2 31.2 31.2 31.7 31.7 31.7 29.4 29.4 29.4 :
rate
age >25 year (2) % 13.2 13 12.9 12.6 12.2 11.6 11.2 11 11 11 10.8 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
Labour Cost Index Q/Q1 % (1) 1.8 0.4 3 5 : Q/Q4 % (3) 0.2 0.7 2.8 3 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
Employment Q/Q1 % (1) 0.5 1.1 0.2 0.8 : Q/Q4 % 0.3 2 0.7 1.1 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
M/M1 % (1) 1.6 2.1 2.4 0.4 4 3.1 0.9 0.3 0.5 1.1 3.6 :
M/M12 % (3) 3.6 0.6 9.4 4.6 6.9 5 1.7 4.1 1.2 2.5 1.9 :
M/M1 % (1)
M/M12 %
M/M1 % (1) 0.9 1.7 2.9 0 0.6 0.6 0.2 1 1 0.1 : :
M/M12 % 5.5 6.7 1.5 1.7 2.8 2.6 2.2 0 1.5 1.7 : :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
% 0.2 2.9 4.3 1.6 :
/surplus (+)
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
Economic sentiment indicator (2) index 118.6 120.9 120.3 118.5 118.4 118.6 116.1 117.8 118.3 119.6 121 122.5
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
% 3.86 3.92 3.84 3.68 3.66 3.62 3.52 3.81 3.75 3.58 3.34 :
bond yields
Croatian kuna exchange rates
Average 7.61 7.64 7.66 7.64 7.56 7.50 7.50 7.52 7.49 7.49 7.50 7.51
against the euro
Indicator Source

Croatia

9.0 130.0 (PFC,I) (RT)
3.0 2
6.0 125.0 2.0 1
3.0 120.0 1.0 0
0.0 115.0 0.0 1
3.0 110.0 1.0 2
6.0 105.0 2.0 3

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
% Growth Rate
Growth Rate
16.5 6.0
3.0
15.5 4.0 2.0
1.0
14.5 2.0
0.0
13.5 0.0 1.0

10
2.0
12.5 -2.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 3.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
Mio EUR Croation

% Kuna/
400 5.0 7.80
200
4.0 7.70
0
-200 3.0
-400 7.60
-600 2.0
-800 7.50
1.0
-1000
1000
-1200 0.0 7.40
-1400
-1.0 7.30
-1600
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
-1800
External trade balance BOP current account Croatian kuna exchange rates against the euro

Detailed PEEIs analysis for Italy

2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
GDP (volume) Q/Q1 % (1) 0.2 0.2 0.3 0 : Q/Q4 % 0.6 1 0.8 1 :
Q/Q1 % (1) 0.6 0.3 0.4 0.1 : Q/Q4 % 1.9 1.7 2.3 1.2 :
(volume)
0.6 0.9 0.7 0.2 : Q/Q4 % 1.4 2.8 2.1 3 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
mn euro 4258.2 4887.6 3953.6 4396.9 4443.6 5083.9 4140.7 4514.6 4518.4 4473.1 : :
2914.9 3610.5 2717 3030.7 3245.4 3747.5 2879.9 3226.3 3335.1 3173.1 : :
(extra EU28) (2)
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
BOP Current account
mn euro 10843 13037 2657 11599 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
Inflation (Harmonized Index M/M1 % 0.4 0 2.2 0.4 2.1 0.2 0.3 0.2 1.9 0.1 1.9 :
M/M1 % 0.5 0.6 0.8 0.5 0.2 0.9 0.8 0.5 1.6 0.2 0.1 :
M/M12 % 4.1 3.9 3 4.1 3.9 4.5 4.1 3.4 1.4 1 0.8 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
total (2) % 11.5 11.6 11.7 11.7 11.5 11.6 11.5 11.6 11.5 11.5 11.7 :
Unemployment
age <25 year (2) % 38.2 38.6 39 38.5 36.8 36.5 36.9 37.2 39 38.3 37.1 :
rate
age >25 year (2) % 9.8 9.8 9.9 9.9 9.9 9.9 9.9 9.9 : : : :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
Employment Q/Q1 % (1) 0.5 0.4 0.4 0.5 : Q/Q4 % 0.7 0.9 1.2 1.8 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
M/M1 % (1) 0.4 0.7 1.7 0.6 0 0.5 0.6 0.3 0.7 1.7 : :
M/M12 % (3) 1.3 0.9 3.8 1.1 0.5 1.8 0.6 0.9 0.3 4.1 : :
M/M1 % (1) 3.2 0.3 1.5 0.4 0.7 2.2 3.8 1.4 0.4 3.4 : :
M/M12 % 4 1.1 1.7 0.5 0.4 2.7 2.8 0 1.3 4.2 : :
M/M1 % (1) 0.5 0 0 0.4 0.6 0.1 0.4 0.2 0.1 0.2 : :
M/M12 % 1.2 0.9 1 2.7 0 0.1 1 1.1 0.3 0.4 : :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
% 2 2.5 4.6 0.2 :
/surplus (+)
General government gross debt % 134 132.3 135 135.5 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
Economic sentiment indicator (2) index 108.8 109.2 107.5 106.1 103.7 108.1 108.4 104.8 105.2 103.1 103.5 105
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
% 1.57 1.58 1.53 1.56 1.38 1.44 1.53 1.45 1.23 1.18 1.27 :
bond yields
Indicator Source

Italy

9.0 115.0 (PFC,I) (RT)
6.0 3
6.0 110.0 4.0 2
2.0 1
3.0 105.0
0.0 0
0.0 100.0
2.0 1
3.0 95.0 4.0 2

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
% Growth Rate
Growth Rate
12.5 1.5
3.0
12.1 1.0 2.0
1.0
11.7 0.5
0.0
11.3 0.0 1.0

10
2.0
10.9 -0.5
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 3.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
Mio EUR % /$
14000 6.0 1.600
12000 5.0 1.400
10000 4.0 1.200

8000
3.0 1.000
6000
2.0 0.800
4000
1.0 0.600
2000
0 0.0 0.400
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

Detailed PEEIs analysis for Cyprus

2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
GDP (volume) Q/Q1 % (1) 0.4 0.5 1 0.7 : Q/Q4 % 2.3 2.5 2.6 2.9 :
Q/Q1 % (1) 0.7 0.7 0.3 1.2 : Q/Q4 % 2.1 2.4 2.6 2.8 :
(volume)
23.8 9.7 53.3 349.9 : Q/Q4 % 8.7 10.4 66.1 133 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
mn euro 52.8 90.7 47.5 66.7 87.8 63.9 112.8 87 81.6 55.1 : :
28.5 35.7 24.6 45.7 40.2 34.1 66.5 60.3 37.2 42.2 : :
(extra EU28) (2)
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
BOP Current account
mn euro 128 198 47 457 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
Inflation (Harmonized Index M/M1 % 1.2 0.6 1.4 0.6 0.7 0.4 1.3 0.3 1 0.4 0.4 :
of Consumer Prices All items) M/M12 % 1.5 0.6 1.1 2.2 2.2 2.1 1.9 2 0.4 0.6 0.4 :
M/M1 % 1.9 0.2 1.3 0.1 1.9 0.1 0.8 0.2 2.5 0.2 0.3 :
M/M12 % 6.8 7.1 6.9 6.8 5.7 5.3 4.8 4.8 3.3 3.1 2.1 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
total (2) % 13.7 13.4 13.2 13.2 13 12.6 12.4 12.2 12.1 12.1 12 :
Unemployment
age <25 year (2) % 30.7 30.7 29.1 29.1 29.1 26.8 26.8 26.8 26.7 26.7 26.7 :
rate
age >25 year (2) % 12.1 11.9 11.7 11.7 11.5 11.2 11 10.9 10.8 10.7 10.6 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
Labour Cost Index Q/Q1 % (2) 0 0 0.4 0.1 : Q/Q4 % (3) 0.7 0.7 0.5 0.6 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
Employment Q/Q1 % (2) 0.4 0.7 0.5 0.8 : Q/Q4 % 0.8 1.6 1.7 2.5 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
M/M1 % (2) 2.3 0.5 1.7 0.8 0.5 1.6 2.6 2.7 0.1 0.1 : :
M/M12 % (3) 7.6 7.9 11.1 9.2 9.5 10.2 4.5 10.7 8.1 6 : :
M/M1 % (2)
M/M12 %
M/M1 % (2) 0.2 2.4 1.5 0.9 0.9 0.8 2.8 1.7 0.8 0.9 : :
M/M12 % 3.1 8.7 3.9 7.4 8.2 9.1 0.7 5.8 2.1 0.2 : :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
% 2.9 6.8 3.6 4.3 :
/surplus (+)
General government gross debt % 110.2 108.9 109.3 109 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
% 4 3.87 3.82 4 4.01 3.99 3.89 3.82 3.87 3.84 3.62 :
bond yields
Indicator Source

Cyprus

9.0 120.0 (PFC,I) (RT)
400.0 6
6.0 115.0 300.0 4
3.0 110.0 200.0 2
0.0 105.0 100.0 0
3.0 100.0 0.0 2
6.0 95.0 100.0 4

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
% Growth Rate
Growth Rate
16.0 1.5
3.0
15.0 1.0 2.0
14.0 0.5 1.0
0.0
13.0 0.0
1.0
10
12.0 -0.5
2.0
11.0 -1.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 3.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
Mio EUR % /$
100 6.0 1.600
0 5.0 1.400
-100 4.0 1.200
-200 3.0 1.000
-300 2.0 0.800
-400 1.0 0.600
-500 0.0 0.400

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

Detailed PEEIs analysis for Latvia

2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
GDP (volume) Q/Q1 % (1) 0.6 0.3 0.1 0.6 : Q/Q4 % 3.5 2.7 2.1 2 :
Q/Q1 % (1) 1.4 0.1 1.2 1.2 : Q/Q4 % 5.1 1.8 3 4.1 :
(volume)
3.3 4.2 11.4 8.4 : Q/Q4 % 6.1 0.5 15.7 26.3 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
mn euro 43.1 51.3 42.9 27.4 25.4 39.6 28.7 19.5 43.7 22.8 : :
83.4 81 79.4 76.4 63.5 81 65.1 55.1 87.7 60.6 : :
(extra EU28) (2)
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
BOP Current account
mn euro 123 69 152 37 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
of Consumer Prices All items) M/M12 % 0 0.4 0.3 0.6 0.6 0.7 0.8 0.6 0.1 0.1 0.5 :
M/M1 % 0.2 0.4 0.1 1.3 0.6 0.2 0.5 0.1 0 0.6 0.2 :
M/M12 % 2.3 2.5 2.8 4 3.9 4 4.4 4.4 4 2.9 2.3 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
total (2) % 9.9 9.9 10.1 9.9 9.7 9.5 9.5 9.6 9.5 9.3 9.2 :
Unemployment
age <25 year (2) % 19.4 18.8 17.3 16.1 16.1 18 18.8 18.7 17.4 15.8 15.5 :
rate
age >25 year (2) % 9 9.1 9.5 9.3 9.1 8.8 8.7 8.8 8.9 8.8 8.7 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
Labour Cost Index Q/Q1 % (1) 1.7 2 1.9 3.2 : Q/Q4 % (3) 7.3 7.6 6.7 9.5 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
Employment Q/Q1 % (1) 0.4 0.5 0.1 0.2 : Q/Q4 % 2.3 2.6 0.8 0.9 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
M/M1 % (1) 0.8 0.8 0.3 0.1 4.3 1.8 2.1 0.5 2.1 2 1.5 :
M/M12 % (3) 4.6 2.6 4.8 3.8 2.7 0 5.5 7.9 2.5 0.6 2.4 :
M/M1 % (1)
M/M12 %
M/M1 % (1) 2.8 0.2 2.3 0.3 0.2 0.5 0.7 0.7 0.5 0 0.8 :
M/M12 % 0.2 1.5 3.2 2.7 0.8 2 3.5 1.5 1.7 1.1 0.5 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
% 0.2 6.7 2.7 2 :
/surplus (+)
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
% 1.19 1.08 1.05 0.88 0.71 0.61 0.51 0.48 0.3 0.12 0.1 :
bond yields
Indicator Source

Latvia

9.0 115.0 (PFC,I) (RT)
10.0 4
6.0 110.0 5.0 2
3.0 105.0 0.0 0
0.0 100.0 5.0 2
3.0 95.0 10.0 4
6.0 90.0 15.0 6

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
% Growth Rate
Growth Rate
10.9 4.0
3.0
10.5 3.0 2.0
10.1 2.0 1.0
0.0
9.7 1.0
1.0
10
9.3 0.0
2.0
8.9 -1.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 3.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
Mio EUR % /$
200 6.0 1.600
5.0 1.400
150
4.0 1.200
100
3.0 1.000
50 2.0 0.800
0 1.0 0.600
0.0 0.400
-50
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

Detailed PEEIs analysis for Lithuania

2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
GDP (volume) Q/Q1 % (1) 0.6 0.6 0.6 0.4 0.1 Q/Q4 % 1.8 2.1 2.4 1.9 1.7
Q/Q1 % (1) 1.8 0.9 0.9 2.4 : Q/Q4 % 5.2 4.1 5 6.5 :
(volume)
0.2 2.8 0.8 2.5 : Q/Q4 % 5.3 2.2 6.1 2.6 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
mn euro 169.7 1.9 202.6 137.3 99.4 144.9 34.6 10.5 98.2 78.1 : :
215.4 37.6 206.3 174.6 156.4 174.1 55.4 16.9 114.6 126.8 : :
(extra EU28) (2)
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
BOP Current account
mn euro 244.9 360.4 27.7 389.6 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
Inflation (Harmonized Index M/M1 % 0.1 0.4 0.4 0.3 1.1 0.7 0 0 0.8 0.4 0.8 :
of Consumer Prices All items) M/M12 % 0.5 0.2 0.7 0.5 0.8 0.8 0.2 0.4 0 0.5 0.6 :
M/M1 % 0 0.9 1.8 1.8 0.5 0.1 0.5 1 0.6 0.8 0.3 :
M/M12 % 9.1 8.2 3.6 6 6.3 6.4 5.7 3.4 3.9 3.1 1.7 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
total (2) % 8.8 8.9 8.6 8.5 8.4 8 8.2 8.4 8.8 8.6 8.4 :
Unemployment
age <25 year (2) % 13.7 13.9 13.6 13.9 14.2 14.8 15.5 16.2 16.5 16.6 16.2 :
rate
age >25 year (2) % 8.4 8.4 8.2 8 7.9 7.4 7.6 7.7 8.1 7.9 7.7 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
Employment Q/Q1 % (1) 0.5 0.3 1.3 1 : Q/Q4 % 0.1 1.3 2.6 2.4 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
M/M1 % (1) 2 3.3 0.9 1.2 3.6 3 4 0.5 0.3 0.4 3.1 :
M/M12 % (3) 5.7 3.5 9.2 5.6 2.7 1.6 0.2 1.4 0.6 0.3 7.9 :
M/M1 % (1)
M/M12 %
M/M1 % (1) 0.1 0.8 0.7 0.9 0.2 1.2 0.6 0.6 0.7 0.8 0.2 :
M/M12 % 4.7 5.2 6.5 8.5 4.9 6.5 6.2 6.5 6.1 6.7 7.6 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
% 1.9 2.3 2.2 3.9 :
/surplus (+)
General government gross debt % 38.2 42.7 40 40.1 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
Economic sentiment indicator (2) index 106.2 105.7 106.1 105 105.4 104.1 104.1 103.7 103.8 106 107 106.2
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
% 1.57 1.49 1.47 1.42 1.42 1.31 0.86 0.86 0.86 0.86 0.79 :
bond yields
Indicator Source

Lithuania

12.0 115.0 (PFC,I) (RT)
15.0 3
8.0 110.0 10.0 2
5.0 1
4.0 105.0
0.0 0
0.0 100.0
5.0 1
4.0 95.0
10.0 2
8.0 90.0 15.0 3

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
% Growth Rate
Growth Rate
10.0 3.0
3.0
9.5 2.0 2.0
9.0 1.0 1.0
0.0
8.5 0.0
1.0
10
8.0 -1.0
2.0
7.5 -2.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 3.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
Mio EUR % /$
400 6.0 1.600
300 5.0 1.400

200
100 4.0 1.200
0 3.0 1.000
-100
-200 2.0 0.800
-300 1.0 0.600

-400
-500 0.0 0.400
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
External trade balance BOP current account
Lithuanian Litas exchange rates against the euro

Detailed PEEIs analysis for Luxembourg

2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
GDP (volume) Q/Q1 % (1) 0 3.8 1 1.6 : Q/Q4 % 1.7 3.2 3.1 4.3 :
Q/Q1 % (1) 0.1 1.3 1.3 1.4 : Q/Q4 % 2.2 1.9 1.1 1.3 :
(volume)
4 5.2 0.3 5.6 : Q/Q4 % 7.2 10.1 10.1 4.2 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
mn euro 134.6 63.6 110.2 153.8 49.1 100.7 15.2 181.9 105.5 122 : :
196.1 224.4 192.2 247.6 116.8 170.5 135.6 254.4 186.1 199.6 : :
(extra EU28) (2)
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
BOP Current account
mn euro 1209 1878 519 284 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
Inflation (Harmonized Index M/M1 % 0.1 0.5 1.5 1.3 0.1 0.2 0.5 0.4 1.3 1 0.3 :
M/M1 % 0.6 0.4 2.1 0.5 0.1 0.1 0.2 0.5 3.9 0 0 :
M/M12 % 2.6 3 4.3 5.2 5.2 5.3 5.2 4.7 7.7 7.2 7.1 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
total (2) % 6.5 6.5 6.3 6.3 6.3 6.3 6.2 6.2 6.2 6.2 6.3 :
Unemployment
age <25 year (2) % 17.4 17.4 17.4 17.7 17.8 17.4 17.3 17.2 17 17 17.4 :
rate
age >25 year (2) % 5.5 5.6 5.4 5.4 5.4 5.4 5.3 5.3 5.3 5.3 5.3 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
Employment Q/Q1 % (1) 0.8 0.7 0.7 0.7 : Q/Q4 % 2.8 2.8 2.9 2.9 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
M/M1 % (1) 1.7 2.4 0.2 1 0.1 3.4 0.1 3.1 0.1 3 : :
M/M12 % (3) 3.3 1.1 2.3 1.4 0.8 1.3 2.7 2.2 2.2 5.2 : :
M/M1 % (1) 3 1.6 3.7 5.6 7.2 1.2 0.3 0.3 4.3 5.9 : :
M/M12 % 0.2 3.4 1.9 16.3 0 0.1 1.1 3.8 1.9 4 : :
M/M1 % (1) 5.8 4.7 4.3 1.5 0.4 2 0.3 1.5 0.7 3.1 0.3 :
M/M12 % 26.4 6.2 17.9 18.4 12.9 17.3 13.8 14.3 11.9 18 15.2 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
% 0 1.1 0.6 4.6 :
/surplus (+)
General government gross debt % 22.1 22.1 22.4 22 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
Economic sentiment indicator (2) index 96.2 97.4 97.4 97.1 102.9 108 107.2 108.9 102.3 105.5 101.5 103.6
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
% 0.25 0.27 0.72 0.43 0.42 0.34 0.33 0.17 0.00 0.05 0.03 :
bond yields (**)
Indicator Source
(**) 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.

Luxembourg

9.0 115.0 (PFC,I) (RT)
10.0 9
6.0 110.0 5.0 6
3.0 105.0 0.0 3
0.0 100.0 5.0 0
3.0 95.0 10.0 3
6.0 90.0 15.0 6

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
% Growth Rate
Growth Rate
7.6 2.0
2.0
7.2 1.0 1.0
0.0
6.8 0.0
1.0
6.4 -1.0 2.0

20
3.0
6.0 -2.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 4.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
Mio EUR % /$
2000 5.0 1.600
4.0 1.400
1500
3.0 1.200
1000
2.0 1.000
500 1.0 0.800
0 0.0 0.600
-1.0 0.400
-500
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

Detailed PEEIs analysis for Hungary

2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
GDP (volume) Q/Q1 % (1) 0.4 0.9 0.5 1 : Q/Q4 % 2.4 3.2 1.1 2.6 :
Q/Q1 % (1) 0.8 1.4 1.6 1.2 : Q/Q4 % 2.7 3.4 4.8 5.1 :
(volume)
0.3 1 18 0.9 : Q/Q4 % 1.4 6.5 7.8 20 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
312.9 103.1 240.8 208.8 176.4 127.2 214.3 161.5 137.9 218.3 : :
(extra EU28) (2)
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
BOP Current account
mn euro 866.6 545 1607.9 1757 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
Inflation (Harmonized Index M/M1 % 0 0.3 0.1 0.1 0.2 0.8 0.3 0.2 0.2 0.4 0.2 :
of Consumer Prices All items) M/M12 % 0.6 1 1 0.3 0.2 0.3 0.1 0.1 0.3 0.1 0.7 :
M/M1 % 0.1 0.5 2.2 2 0.5 0 1.6 1.2 0 1 0.3 :
M/M12 % 3.1 2.7 3 4.9 5.1 4.8 4.8 4.1 3.6 3.3 2.8 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
total (2) % 6.3 6.1 5.9 5.7 5.6 5.4 5.2 5.1 5.1 5 : :
Unemployment
age <25 year (2) % 15.7 14.7 14.3 13.9 14.1 13.9 13.4 13 12.7 12.6 : :
rate
age >25 year (2) % 5.5 5.4 5.2 5 4.9 4.7 4.5 4.4 4.4 4.4 : :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
Labour Cost Index Q/Q1 % (1) 0.9 0.9 1.1 0.4 : Q/Q4 % (3) 4.6 4 4.1 3 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
Employment Q/Q1 % (1) 0.8 0.5 0.9 0.5 : Q/Q4 % 2.6 2.8 2.9 2.7 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
M/M1 % (1) 1.5 0.5 0.2 1.1 1.7 5.8 0.6 2.3 0.3 1.6 : :
M/M12 % (3) 6.6 6.7 2.5 1.8 3.1 5 4.4 0.3 0.1 3.5 : :
M/M1 % (1) 4.8 2.4 21.6 1.2 7.4 3.4 1.7 7.4 3 4.6 : :
M/M12 % 0.2 8 21.1 20.7 35.4 30 25.8 16.2 17.6 9.1 : :
M/M1 % (1) 0.4 0.4 0.2 1.5 0.2 0.9 0.1 0.4 0.2 0.3 0.6 :
M/M12 % 4.3 4.5 2.2 6.6 4.3 6.7 5.7 5.6 4 4.4 5.1 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
% 1.5 1.1 0.8 0.7 :
/surplus (+)
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
% 3.34 3.47 3.36 3.36 3.13 3.02 3.35 3.31 2.88 2.83 2.88 :
bond yields
Hungarian forint exchange rates
312.27 314.4 314.68 310.37 311.15 311.46 314.58 313.98 314.35 310.21 308.68 307.00
against the euro
Indicator Source

Hungary

(PFC,I) (RT)
9.0 125.0 5.0 3
6.0 120.0 0.0 2
3.0 115.0 5.0 1
0.0 110.0 10.0 0
3.0 105.0 15.0 1
6.0 100.0 20.0 2

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
% Growth Rate Growth Rate

6.6 2.0
3.0
6.2 1.5 2.0
5.8 1.0 1.0
0.0
5.4 0.5
1.0
10
5.0 0.0
2.0
4.6 -0.5
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 3.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
Mio EUR Hungarian

%
forin/
2000 5.0 320
4.0 305
1500
3.0
290
1000 2.0
275
500 1.0
0.0 260
0
-1.0 245
-500 2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
External trade balance BOP current account Hungarian forint exchange rates against the euro

Detailed PEEIs analysis for Malta

2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
GDP (volume) Q/Q1 % (1) 1.1 1.6 0.1 0.2 : Q/Q4 % 6 6.3 5.3 3 :
Q/Q1 % (1) 2.9 0.9 0.1 1.4 : Q/Q4 % 7.3 7.1 5.8 2 :
(volume)
3.3 16.8 1.3 15.4 : Q/Q4 % 80.4 24.6 19.2 2.1 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
mn euro 100.7 60 87.1 452.5 62 244.4 109.1 82.1 109.6 56.6 : :
67.9 10.4 58.6 426.9 37.2 217.1 82 39.4 158.1 29.7 : :
(extra EU28) (2)
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
BOP Current account
mn euro 57.4 87.3 12.3 5.3 :
(all countries of the world))
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
Inflation (Harmonized Index M/M1 % 2.5 0.1 1.6 0.6 1 2.6 1 1.1 0.1 0.4 0.9 :
of Consumer Prices All items) M/M12 % 1.3 1.3 0.8 1 1 0.8 1 1 0.9 1 0.9 :
M/M1 % 0.3 0.1 0.2 0 0 0.2 0 0.1 0 0 0.1 :
M/M12 % 3 2.9 3.1 3.3 3.4 0.9 0.8 0.9 0.9 1 0.4 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
total (2) % 5.3 5.1 5.1 5 4.8 4.9 4.8 4.9 4.8 4.8 4.7 :
Unemployment
age <25 year (2) % 11.8 10.8 10.4 9.9 9.3 9.5 9.3 10.1 10.3 10.2 9.8 :
rate
age >25 year (2) % 4.2 4.2 4.3 4.3 4.1 4.1 4.1 4.1 4 3.9 3.9 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
Employment Q/Q1 % (1) Q/Q4 % 2.8 3.4 2.4 2.8 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
M/M1 % (1) 2.7 1.1 4.4 3.1 0.9 1.3 0.2 0.9 0 0.2 3.2 :
M/M12 % (3) 3.1 5.5 8.4 2.9 4.2 2.7 3.9 6.8 5.3 3.9 0.4 :
M/M1 % (1)
M/M12 %
M/M1 % (1) 0.9 1.5 0.6 1.7 1.6 0.8 0.8 0.3 0.4 0.8 0.2 :
M/M12 % 1.9 6.6 6.2 12.6 3.1 2.4 1.2 0.6 2.7 1.6 2.3 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
% 0.9 4.4 2.9 0.5 :
/surplus (+)
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
Economic sentiment indicator (2) index 108.8 108.2 108 107.5 106.3 109.2 105.6 109.8 110.5 110.8 114.1 113.6
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
% 1.29 1.29 1.25 1.16 1.03 1 1.02 0.95 0.76 0.61 0.6 :
bond yields
Indicator Source

Malta

9.0 125.0 (PFC,I) (RT)
30.0 3
6.0 120.0 20.0 2
3.0 115.0 10.0 1
0.0 110.0 0.0 0
3.0 105.0 10.0 1
6.0 100.0 20.0 2

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
% Growth Rate
Growth Rate
5.8 3.0
3.0
5.4 2.0 2.0
5.0 1.0 1.0
0.0
4.6 0.0
1.0
10
4.2 -1.0
2.0
3.8 -2.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 3.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

Mio EUR % /$
200 6.0 1.600
100 5.0 1.400
0 4.0 1.200
-100
3.0 1.000
-200
2.0 0.800
-300
1.0 0.600
-400
-500 0.0 0.400

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

Detailed PEEIs analysis for Netherlands

2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
GDP (volume) Q/Q1 % (1) 0.3 0.2 0.6 0.6 : Q/Q4 % 2 1.4 1.5 2.3 :
Q/Q1 % (1) 0.2 0.1 0.5 0.1 : Q/Q4 % 2 1.4 1.3 1.1 :
(volume)
0.5 3.2 1.2 2.2 : Q/Q4 % 9.5 9.1 7.6 7 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
mn euro 6557.7 6479.6 5372.8 5783.3 5405.8 5411.8 5574.4 5394 5084.7 5562.5 : :
10119 9826.3 8933.4 9663 8931.5 8877.2 9025.5 9271.4 9003 8948.4 : :
(extra EU28) (2)
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
BOP Current account
mn euro 12944 11226 16517 13104 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
M/M1 % 0.5 2.4 2.2 1.5 0.8 0.4 1.8 2.4 0.1 2.5 2 :
M/M12 % 8 7.2 5.9 8.9 9.5 10.3 8.5 6.4 6 6.4 3.8 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
total (2) % 6.7 6.6 6.5 6.5 6.4 6.4 6.3 6.1 6 5.8 5.7 :
Unemployment
age <25 year (2) % 11.2 11.2 11.2 11.3 11.4 11.2 11.1 10.8 10.8 10.6 10.5 :
rate
age >25 year (2) % 5.9 5.8 5.6 5.6 5.5 5.5 5.4 5.3 5.2 4.9 4.8 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
Employment Q/Q1 % (1) 0.2 0.4 0 0.4 : Q/Q4 % 1.2 1 1.1 1.1 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
M/M1 % (1) 0.2 1.3 1.8 0.9 1.9 1.7 5.3 1.7 1.6 3.2 1.7 :
M/M12 % (3) 3.7 7.5 5.2 5 1.7 5.2 1.5 1.4 0.4 4.3 5.2 :
M/M1 % (1) 0.4 1.5 1 0.3 0.9 0.1 0.1 0.3 1.9 1 : :
M/M12 % 1.9 9.5 8.4 7.7 8 6.8 3.9 0.7 9.2 13.6 : :
M/M1 % (1) 0 0.9 0.9 0.5 0.7 0.6 2.2 0.8 0.9 1.2 : :
M/M12 % 0.6 2 0.2 0.5 0.2 1.1 2.4 0 2.3 0.1 : :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
% 3.6 0.8 0.5 1.3 :
/surplus (+)
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
Economic sentiment indicator (2) index 106.7 104.3 104.9 102.9 102 103.9 103.8 105.9 105.9 102.3 104 105
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
% 0.72 0.75 0.65 0.37 0.32 0.4 0.38 0.25 0.06 0.03 0.06 :
bond yields
Indicator Source

Netherlands

(PFC,I) (RT)
6.0 120.0 6.0 3
3.0 115.0 4.0 2
0.0 110.0 2.0 1
3.0 105.0 0.0 0
6.0 100.0 2.0 1
9.0 95.0 4.0 2

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
% Growth Rate
Growth Rate
7.2 1.0
4.0
6.8 0.5
2.0
6.4 0.0
0.0
6.0 -0.5
2.0
5.6 -1.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 4.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
Mio EUR % /$
20000 6.0 1.600
15000 5.0 1.400
10000 4.0 1.200

5000
3.0 1.000
0
2.0 0.800
-5000
1.0 0.600
-10000
-15000 0.0 0.400

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

Detailed PEEIs analysis for Austria

2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
GDP (volume) Q/Q1 % (1) 0.2 0.4 0.6 0.1 0.5 Q/Q4 % 1.4 1.1 1.6 1.2 1.3
Q/Q1 % (1) 0.2 0.5 0.2 0.4 0.2 Q/Q4 % 0.1 0.6 1.2 1.7 1.3
(volume)
0.4 0.2 1.7 1.8 0.5 Q/Q4 % 0.8 1.1 2 4.6 3.5
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
mn euro 1250.7 992.2 865.6 897.5 1353.5 1397.4 1146.8 1135.1 1138.6 870.8 : :
767.5 633.1 472.7 509.7 927 1060.9 776.1 739.9 774.8 539.7 : :
(extra EU28) (2)
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
BOP Current account
mn euro 1064 730 5182 414 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
Inflation (Harmonized Index M/M1 % 0 0.6 1.1 0.1 1.1 0.1 0.1 0 0.5 0.2 1 :
of Consumer Prices All items) M/M12 % 0.5 1.1 1.4 1 0.7 0.6 0.6 0.6 0.6 0.6 1.1 :
M/M1 % 0.3 0.4 1 1 0.2 0.1 0.2 0.5 0 0.1 0 :
M/M12 % 2.8 2.6 2.9 4.3 4 3.8 3.5 3 2.8 2.3 2 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
total (2) % 5.9 6 6 6.1 5.9 5.9 6.1 6.1 6.1 6.2 6.3 :
Unemployment
age <25 year (2) % 11.4 11.4 11.9 11.8 10.5 10.3 11.2 11.4 11 11.3 11.7 :
rate
age >25 year (2) % 5.1 5.2 5.2 5.2 5.2 5.3 5.4 5.4 5.4 5.5 5.5 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
Labour Cost Index Q/Q1 % (1) 0.6 3.6 2.4 0 : Q/Q4 % (3) 0.7 5.3 1.1 0.6 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
Employment Q/Q1 % (1) 0.2 0.2 0.3 0.2 : Q/Q4 % 0.6 0.8 1.2 1.1 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
M/M1 % (1) 0.8 1.3 2.5 1.9 2.5 0.1 0.6 0.2 0.7 1.9 : :
M/M12 % (3) 3.8 1.3 2.3 1.4 3.2 3.7 2.4 1.5 1 2.8 : :
M/M1 % (1) 5.3 0.9 1.1 0.4 0.9 2.1 0.3 0.1 0.3 0.1 : :
M/M12 % 1.1 0.2 3.4 3.1 2 0.1 1.6 1.1 0.5 0.1 : :
M/M1 % (1) 0.9 1.2 1.1 1.4 1 0.8 0.3 0.3 0 0.4 0.3 :
M/M12 % 1 1.5 0.5 1 0.2 0.9 2.1 0.2 0.4 1.7 0.9 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
% 0.6 0.8 3.3 1.5 :
/surplus (+)
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
Economic sentiment indicator (2) index 98.5 101.6 101.3 96 96.4 97.8 99.3 99.8 99.3 99.3 100.6 103.2
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
% 0.82 0.86 0.77 0.53 0.46 0.38 0.37 0.33 0.16 0.11 0.15 :
bond yields
Indicator Source

Austria

9.0 105.0 (PFC,I) (RT)
3.0 3
6.0 2.0 2
100.0
3.0 1.0 1
95.0
0.0 0.0 0
90.0
3.0 1.0 1
6.0 85.0 2.0 2

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
% Growth Rate
Growth Rate
6.4 4.0
3.0
6.0 2.0 2.0
1.0
5.6 0.0
0.0
5.2 -2.0 1.0

10
2.0
4.8 -4.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 3.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
Mio EUR % /$
6000 6.0 1.600
5000 5.0 1.400
4000 4.0 1.200
3000 3.0 1.000
2000 2.0 0.800
1000 1.0 0.600
0 0.0 0.400
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

Detailed PEEIs analysis for Poland

2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
GDP (volume) Q/Q1 % (1) 0.8 1.3 0.1 0.9 : Q/Q4 % 3.3 4.3 2.5 3 :
Q/Q1 % (1) 0.7 0.6 0.7 0.6 : Q/Q4 % 2.7 2.2 3 2.7 :
(volume)
0.2 0.3 1.9 1.2 : Q/Q4 % 5.2 4.4 2.2 4.6 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
1278.4 844.2 1026.6 1194.5 1007.3 961.5 591.8 1025.7 761.3 1205.3 : :
(extra EU28) (2)
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
BOP Current account
mn euro 2501.1 985.3 183.5 990.8 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
Inflation (Harmonized Index M/M1 % 0.1 0.2 0.2 0 0.1 0.3 0.2 0.1 0.3 0.2 0 :
M/M1 % 0.1 0.2 1.1 0.5 0.4 0.4 1.1 0.4 0.2 0 0.4 :
M/M12 % 1.8 0.8 1.5 2.3 2.3 1.8 0.9 0.9 0.8 0.1 0.7 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
total (2) % 7.1 6.9 6.7 6.5 6.4 6.3 6.3 6.2 6 5.9 5.7 :
Unemployment
age <25 year (2) % 20.2 19.6 18.8 18.3 17.9 17.8 17.7 17.1 16.5 16 15.8 :
rate
age >25 year (2) % 5.9 5.8 5.6 5.5 5.4 5.3 5.3 5.2 5.1 5 4.9 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
Employment Q/Q1 % (1) Q/Q4 % 1.1 1.8 1.2 1.1 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
M/M1 % (1) 0.7 0.7 0.2 0 0.7 2.3 1.1 0.4 1.5 2.1 0.2 :
M/M12 % (3) 5.5 4.4 3.6 2.9 0.5 5.9 3.2 3.8 0.9 5.2 3.2 :
M/M1 % (1) 2.8 0.7 3.2 1.8 3.2 1 2.6 3.6 0.6 4.7 3.3 :
M/M12 % 1.9 2.4 6.2 10.6 14.9 16 13.9 14.7 15.2 21.7 16.1 :
M/M1 % (1) 1.3 0.9 1.8 0.9 0.2 3.2 0.3 0.5 0.7 0.6 0.7 :
M/M12 % 7.9 7.3 5.5 6.7 5.3 6 6.7 6.3 7.1 10.8 8.6 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
% 1.4 5.2 1.2 1.2 :
/surplus (+)
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
% 2.73 2.96 3 3.03 2.89 2.95 3.04 3.11 2.89 2.71 2.85 :
bond yields
New Polish Zloty exchange rates
Average 4.25 4.29 4.41 4.40 4.29 4.31 4.40 4.40 4.40 4.30 4.32 4.31
against the euro
Indicator Source

Poland

9.0 105.0 (PFC,I) (RT)
3.0 6
6.0 2.0 4
100.0
3.0 1.0 2
95.0
0.0 0.0 0
90.0
3.0 1.0 2
6.0 85.0 2.0 4

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
% Growth Rate
Growth Rate
7.4 3.0
3.0
7.0 2.0 2.0
6.6 1.0 1.0
0.0
6.2 0.0
1.0
10
5.8 -1.0
2.0
5.4 -2.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 3.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

Mio EUR Polish Zloty/

%
1500 5.0 4.70
4.0 4.45
1000
3.0 4.20
500
2.0 3.95
0
1.0 3.70
-500
0.0 3.45
-1000
-1.0 3.20
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
-1500
External trade balance BOP current account Polish Zloty exchange rates against the euro

Detailed PEEIs analysis for Portugal

2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
GDP (volume) Q/Q1 % (1) 0.1 0.3 0.2 0.3 : Q/Q4 % 1.7 1.6 1 1.1 :
Q/Q1 % (1) 0.1 0 1.6 0.1 : Q/Q4 % 2.1 1.7 2.7 1.5 :
(volume)
1.9 0.6 1.3 0.3 : Q/Q4 % 3 1.5 3.4 2.7 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
mn euro 1.9 19.5 8.2 33.6 45 104.1 23.5 42.9 67.5 109.6 : :
123.1 98.9 123.9 117.4 171.7 7.3 70.8 128.2 41.6 229.2 : :
(extra EU28) (2)
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
BOP Current account
mn euro 1780 91 392 1148 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
Inflation (Harmonized Index M/M1 % 0.4 0.3 1.1 0.5 2.2 0.4 0.4 0.2 0.6 0 0.7 :
M/M1 % 0.3 1.2 0.5 0.4 0.2 0.3 0.3 1.3 0.5 0.4 0.1 :
M/M12 % 3.5 2.7 2.4 2.9 3.9 4.3 4.6 3.3 3.4 2.9 1.7 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
total (2) % 12.3 12.2 12.1 12.1 11.9 11.6 11.2 11 10.9 10.9 10.8 :
Unemployment
age <25 year (2) % 32 30.2 29.8 30 31 29.5 28 26.7 27.2 26.7 26.5 :
rate
age >25 year (2) % 10.7 10.8 10.7 10.8 10.5 10.2 9.9 9.8 9.6 9.7 9.7 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
Labour Cost Index Q/Q1 % (1) 1 0.5 1.3 0.6 : Q/Q4 % (3) 1 2.2 0.7 2.5 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
Employment Q/Q1 % (1) 0.1 0.3 0.2 0.4 : Q/Q4 % 0.4 1.8 1.1 0.8 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
M/M1 % (1) 3.7 1.6 0.8 0.8 1.2 5.9 3.8 1.9 0.6 1.3 1.6 :
M/M12 % (3) 0.9 0.7 0.3 2.1 0.3 3.4 2 1.3 1.2 2.8 1.6 :
M/M1 % (1) 0.4 0.8 0 0.9 0.9 1.3 1.3 0.8 0.4 1.3 : :
M/M12 % 4.3 5 5.6 3.2 6.5 2.9 4.2 4.1 3.4 3.6 : :
M/M1 % (1) 1.9 1.3 4.8 4.3 5.2 1.5 2.9 3.6 1.2 0.4 2.1 :
M/M12 % 0.8 0.5 0.2 4.9 2.4 3.2 0.1 3.6 3.7 2.7 2.6 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
% 1.1 7.2 3 2.5 :
/surplus (+)
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
Economic sentiment indicator (2) index 106 105.3 106.8 105.3 104.5 107.3 105.2 106.1 106 105.8 106.4 108.2
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
% 2.57 2.49 2.71 3.23 2.84 3.13 3.15 3.2 3.06 2.91 3.26 :
bond yields
Indicator Source

Portugal

9.0 115.0 (PFC,I) (RT)
4.0 6
6.0 110.0 2.0 3
3.0 105.0 0.0 0
0.0 100.0 2.0 3
3.0 95.0 4.0 6
6.0 90.0 6.0 9

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
% Growth Rate
Growth Rate
12.5 2.0
3.0
12.0 1.0 2.0
1.0
11.5 0.0
0.0
11.0 -1.0 1.0

10
2.0
10.5 -2.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 3.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
Mio EUR % /$
200 6.0 1.600
0 5.0 1.400
-200
4.0 1.200
-400
-600 3.0 1.000
800
-800 2.0 0.800
-1000
1.0 0.600
-1200
-1400 0.0 0.400
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

Detailed PEEIs analysis for Romania

2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
GDP (volume) Q/Q1 % (1) 1.6 1.2 1.5 1.5 : Q/Q4 % 3.6 3.8 4.3 6 :
Q/Q1 % (1) 2 2.3 3.1 3 : Q/Q4 % 6.4 7.3 9.5 10.8 :
(volume)
1.1 7.2 2.4 6.6 : Q/Q4 % 2.1 17.6 2.3 10.7 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
32.4 19.2 26.2 48.4 129.7 79.8 119.2 47.2 145.9 150.8 : :
(extra EU28) (2)
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
BOP Current account
mn euro 843.5 1357.1 701 1325.7 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
Inflation (Harmonized Index M/M1 % 0.3 0.2 0.6 0.3 0.2 0 0.3 0.2 0.2 0 0.2 :
of Consumer Prices All items) M/M12 % 0.9 0.7 1.5 2.1 2.4 2.6 3 0.7 0.3 0.3 0.1 :
M/M1 % 0 0.3 0.8 1 0.1 0.2 0.2 0.6 0.3 0.4 0.3 :
M/M12 % 2.3 1.7 2.4 3.6 3.8 3.3 3.1 2.7 2.5 2.3 1.8 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
total (2) % 6.6 6.7 6.5 6.4 6.4 6.1 6.2 6 6.1 6 5.9 :
Unemployment
age <25 year (2) % 20.9 20.9 21 21 21 20.4 20.4 20.4 : : : :
rate
age >25 year (2) % 5.5 5.6 5.4 5.3 5.3 5.1 5.2 5 5.1 5 4.9 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
Labour Cost Index Q/Q1 % (1) 1 6.1 0.7 3.9 : Q/Q4 % (3) 7.3 11.4 10.4 12 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
Employment Q/Q1 % (1) Q/Q4 % 1 0.8 0.2 0.2 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
M/M1 % (1) 0.1 0.3 2 0.8 0.8 2.1 4.2 2.2 0.8 0.5 : :
M/M12 % (3) 2.5 1.6 1.5 0.9 2 4.3 1.3 1.3 1.1 2.7 : :
M/M1 % (1) 3.3 5.8 9.7 2.7 1 5.3 2.6 1.3 2 2.8 : :
M/M12 % 9.8 13.9 0.4 4.4 4.7 12.6 8.5 1.5 0.2 5.8 : :
M/M1 % (1) 2.4 0.7 2.4 0.5 1.4 1.1 0.7 1.6 0.4 0.2 0.1 :
M/M12 % 14.6 14.5 15.7 19 18.6 20.4 13.8 16 13.6 11.8 9.7 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
% 0.4 3.9 2.5 2.3 :
/surplus (+)
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
Economic sentiment indicator (2) index 104.6 103.3 104.5 102.4 102.8 104 103.6 103.2 103.6 104.2 103.5 104
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
% 3.49 3.62 3.6 3.33 3.34 3.49 3.43 3.48 3.14 2.93 2.92 :
bond yields
New Romanian leu exchange
Average 4.45 4.50 4.53 4.48 4.47 4.47 4.50 4.52 4.49 4.46 4.45 4.49
rates against the euro
Indicator Source

Romania

9.0 115.0 (PFC,I) (RT)
9.0 3
6.0 110.0 2
6.0
3.0 105.0 1
3.0
0.0 100.0 0
3.0 95.0 0.0

1
6.0 90.0 3.0 2

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
% Growth Rate
Growth Rate
7.2 9.0
3.0
6.8 6.0 2.0
1.0
6.4 3.0
0.0
6.0 0.0 1.0

10
2.0
5.6 -3.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 3.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

Mio EUR Romenian

% Leu/
200 5.0 4.70
0 4.0 4.60
-200
3.0 4.50
-400
-600 2.0 4.40
-800 1.0 4.30

-1000
0.0 4.20
-1200
-1.0 4.10
-1400
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
-1600
External trade balance BOP current account Romanian leu exchange rates against the euro

Detailed PEEIs analysis for Slovenia

2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
GDP (volume) Q/Q1 % (1) 0.3 0.6 0.5 0.5 : Q/Q4 % 2 2.8 2.3 2.7 :
Q/Q1 % (1) 0.9 0.1 0.5 1 : Q/Q4 % 1.1 0.6 1.2 2.6 :
(volume)
0.4 0.4 6 2.6 : Q/Q4 % 0.2 5.4 7.8 3.6 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
mn euro 132.4 116.8 161.1 86.6 94.8 141.7 177.9 130.2 91.5 150.8 : :
86.8 73 28.5 101 116 58.2 28.9 67.5 125.5 94 : :
(extra EU28) (2)
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
BOP Current account
mn euro 641.2 459.9 728.9 826.4 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
Inflation (Harmonized Index M/M1 % 0.1 0.4 1.3 0 0.8 0.3 0.8 0.5 0.9 0.1 0.3 :
M/M1 % 0.4 0.1 0.1 0.4 0.3 0.1 0.2 0.1 0 0 0.1 :
M/M12 % 1.3 1.4 1.5 1.4 1.9 1.9 1.8 1.7 1.7 1.5 1 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
total (2) % 8.3 8.4 8.3 8.3 8.3 8 8 8 7.8 7.8 7.7 :
Unemployment
age <25 year (2) % 16.8 16.8 16 16 16 14.8 14.8 14.8 13.5 13.5 13.5 :
rate
age >25 year (2) % 7.7 7.7 7.7 7.7 7.7 7.5 7.5 7.5 7.4 7.4 7.3 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
Labour Cost Index Q/Q1 % (1) 1 1.5 0.7 0 : Q/Q4 % (3) 1.6 1 0.8 1.8 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
Employment Q/Q1 % (1) 0.3 0.4 0.6 0.6 : Q/Q4 % 1.1 1.1 1.6 2 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
M/M1 % (1) 0.5 1 4 0.3 0.4 0.5 0.6 0.5 1.1 0.5 : :
M/M12 % (3) 4.6 2.4 6.1 6.3 4.9 5.6 5.2 6.2 7 5.9 : :
M/M1 % (1) 14.4 23.2 0.9 1.3 7.6 10.6 4.5 0.2 0.5 2.7 : :
M/M12 % 7 22.2 25.9 29.7 36 27.4 19.5 17.9 14.7 14.5 : :
M/M1 % (1) 0.5 0.3 1.2 1.2 0.4 1 0.3 0.6 0.9 0.1 1.7 :
M/M12 % 1.3 0.9 1.8 1.3 0.4 1.8 0.3 1.9 3.3 3.5 0.1 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
% 1.9 1.8 3.4 0.5 :
/surplus (+)
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
Economic sentiment indicator (2) index 109.1 109.4 105.3 105 104.7 107.4 104.8 105 106.7 108.3 107.3 109.3
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
% 1.66 1.61 1.61 1.59 1.48 1.37 1.41 1.36 0.95 0.8 0.75 :
bond yields
Indicator Source

Slovenia

9.0 115.0 (PFC,I) (RT)
6.0 3
6.0 3.0 2
110.0
3.0 0.0 1
105.0
0.0 3.0 0
100.0
3.0 6.0 1
6.0 95.0 9.0 2

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
% Growth Rate
Growth Rate
8.9 2.0
3.0
8.5 1.0 2.0
1.0
8.1 0.0
0.0
7.7 -1.0 1.0

10
2.0
7.3 -2.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 3.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
Mio EUR % /$
1000 6.0 1.600
800 5.0 1.400
600 4.0 1.200
400 3.0 1.000
200 2.0 0.800
0 1.0 0.600
-200 0.0 0.400

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

Detailed PEEIs analysis for Slovakia

2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
GDP (volume) Q/Q1 % (1) 1 1 0.8 0.9 : Q/Q4 % 3.7 4.3 3.4 3.7 :
Q/Q1 % (1) 0.8 0.7 0.6 0.8 : Q/Q4 % 2.8 2.8 2.5 3 :
(volume)
4.5 2.6 7.1 0.9 : Q/Q4 % 17.3 19.4 1.5 0 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
mn euro 39.1 146.2 63.3 50.9 67.7 89.4 61 43.1 130.6 69.7 : :
276.4 392.1 308.7 283.8 246.5 246.3 295.5 309.5 315.8 277.2 : :
(extra EU28) (1)
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
BOP Current account
mn euro 502.2 148.9 107.9 261.4 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
Inflation (Harmonized Index M/M1 % 0 0.4 0.3 0.1 0 0.4 0.1 0.1 0.4 0.1 0 :
M/M1 % 0.2 0.3 1.3 1.7 0.7 0.1 0.3 0.4 0.1 0.5 0.3 :
M/M12 % 5.2 4.6 5.3 4.8 6.2 5.8 5.9 4.6 4.7 4.9 3.3 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
total (2) % 10.9 10.6 10.4 10.2 10.1 10 9.9 9.7 9.6 9.5 9.4 :
Unemployment
age <25 year (2) % 25.8 25.3 24.6 24.1 23.3 22.5 21.8 21 20.1 19.4 19.1 :
rate
age >25 year (2) % 9.7 9.5 9.2 9.1 9 9 9 8.9 8.8 8.7 8.6 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
Labour Cost Index Q/Q1 % (2) 0.1 2 0.2 0.7 : Q/Q4 % (3) 3.1 5.4 4 1.2 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
Employment Q/Q1 % (2) 0.5 0.5 0.6 0.6 : Q/Q4 % 2.2 2 2.2 2.3 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
M/M1 % (2) 3.2 0.2 1.4 3.2 2.6 3.9 0.1 0.8 17 28.2 : :
M/M12 % (3) 8.4 5.7 1.9 7.1 1.8 7.4 9.1 2.4 14 17.5 : :
M/M1 % (2) 6.9 5.1 7.3 1.4 5.5 1.5 2.2 1.7 10.9 6.7 : :
M/M12 % 15.6 25.8 16.2 18.7 0.5 4 9 8.6 23.2 9.8 : :
M/M1 % (2) 0.3 0.3 1.1 0.1 1 0.4 0.4 0.1 1.1 1 0.1 :
M/M12 % 3.2 2.7 0.5 0.4 2 3.7 4 2.6 0.6 1.9 1.5 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
% 1.6 4.4 2 1.7 :
/surplus (+)
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
Economic sentiment indicator (1) index 96.8 96.3 102.5 102.6 102.8 99.6 98 98.6 103.9 99.9 103.4 102.8
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
% 0.71 0.72 0.71 0.56 0.43 0.38 0.41 0.77 0.49 0.3 0.32 :
bond yields
Indicator Source

Slovakia

30.0 110.0 (PFC,I) (RT)
6.0 3
20.0 105.0 3.0 2
10.0 100.0 0.0 1
0.0 95.0 3.0 0
10.0 90.0 6.0 1
20.0 85.0 9.0 2

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
% Growth Rate
Growth Rate
11.5 3.0
3.0
11.0 2.0 2.0
10.5 1.0 1.0
0.0
10.0 0.0
1.0
10
9.5 -1.0
2.0
9.0 -2.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 3.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
Mio EUR % /$
300 6.0 1.600
200 5.0 1.400

100
4.0 1.200
0
-100 3.0 1.000
200
-200 2.0 0.800
-300
1.0 0.600
-400
-500 0.0 0.400
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

Detailed PEEIs analysis for Finland

2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
GDP (volume) Q/Q1 % (1) 0.3 0.4 0.3 0 : Q/Q4 % 0.1 0.7 0.8 1.1 :
Q/Q1 % (1) 0.8 0.3 0.4 0.9 : Q/Q4 % 1.3 2 1.5 2.5 :
(volume)
0.2 1.5 1 3.6 : Q/Q4 % 0.8 1.8 1 7.1 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
mn euro 244 281.7 91.2 229.2 261.2 199.7 177.1 174.9 173.5 189.6 : :
617.3 641 517.1 550.5 634.1 478.1 506.5 574 527.3 516.5 : :
(extra EU28) (2)
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
BOP Current account
mn euro 816.6 292.8 346.7 1600.9 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
Inflation (Harmonized Index M/M1 % 0 0.2 0.5 0.2 0.5 0.3 0.1 0.1 0.1 0 0.2 :
of Consumer Prices All items) M/M12 % 0.2 0.2 0 0.1 0 0.3 0.3 0.3 0.5 0.5 0.5 :
M/M1 % 0.1 1 0.3 0.9 0.3 0.1 0.5 0.4 0.2 0.1 0.2 :
M/M12 % 2.7 2.4 1.5 3.5 3.6 3.7 3 2.4 2.8 1.9 1 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
total (2) % 9.4 9.3 9.2 9.1 9.1 9 8.9 8.9 8.8 8.7 8.6 :
Unemployment
age <25 year (2) % 21.7 21.7 21.6 21.4 21.3 21.1 20.9 20.8 20.6 20.3 20.1 :
rate
age >25 year (2) % 7.7 7.6 7.6 7.5 7.4 7.4 7.3 7.3 7.2 7.1 7 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
Labour Cost Index Q/Q1 % (1) 1.1 0 1 1.3 : Q/Q4 % (3) 0.8 0.9 1.4 2 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
Employment Q/Q1 % (1) 0.1 0.1 0.3 0 : Q/Q4 % 0.3 0.2 0.3 0.5 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
M/M1 % (1) 0.3 1.1 2 2 2.3 2.1 0.1 0.8 0.8 3.5 : :
M/M12 % (3) 0.5 2.1 1.6 3.1 2.9 1.9 2.1 3.2 5.3 2.8 : :
M/M1 % (1) 1.2 2.3 1.7 3.1 0.9 1.8 1.1 0.3 0.8 : : :
M/M12 % 6.7 3 6.2 8 3 7 6.6 6.1 5.4 : : :
M/M1 % (1) 1.3 0.7 0.3 0.1 0.3 0.9 1.6 0.6 0.1 0.2 1.1 :
M/M12 % 3 1.9 1.8 0.5 0.5 0 1.9 1.1 0.9 0.9 3.1 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
% 2.1 8.4 1.2 2.6 :
/surplus (+)
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
Economic sentiment indicator (2) index 97.7 96.7 99.1 95.3 97.6 97.2 96.8 98 98.5 101 104.9 102.8
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
% 0.81 0.86 0.78 0.53 0.53 0.46 0.45 0.33 0.12 0.06 0.08 :
bond yields
Indicator Source

Finland

9.0 110.0 (PFC,I) (RT)
4.0 3
6.0 3.0
105.0 2
3.0 2.0
100.0 1
0.0 1.0
95.0 0
3.0 0.0
6.0 90.0 1.0 1

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
% Growth Rate
Growth Rate
9.8 2.0
3.0
9.4 1.0 2.0
1.0
9.0 0.0
0.0
8.6 -1.0 1.0

10
2.0
8.2 -2.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 3.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
Mio EUR % /$
1000 6.0 1.600
500 5.0 1.400
0 4.0 1.200
-500 3.0 1.000
-1000 2.0 0.800
-1500 1.0 0.600
-2000 0.0 0.400

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

Detailed PEEIs analysis for Sweden

2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
GDP (volume) Q/Q1 % (1) 1 1.5 0.4 0.5 : Q/Q4 % 4.1 5.2 3.7 4.4 :
Q/Q1 % (1) 0.7 0.8 0.7 0 : Q/Q4 % 2.8 3.3 2.9 2.5 :
(volume)
0.8 3.3 1.7 1.8 : Q/Q4 % 6.1 8.1 7.2 9 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
1150.1 1561.8 1263.2 1172.6 1310.1 1411.1 1115.7 1122.8 1173 955.1 : :
(extra EU28) (2)
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
BOP Current account
mn euro 6982.7 5908.5 6117.3 3877.6 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
Inflation (Harmonized Index M/M1 % 0.2 0.2 0.6 0.3 0.5 0 0.2 0.1 0.1 0.1 0.2 :
of Consumer Prices All items) M/M12 % 0.8 0.7 1.3 0.8 1.2 1 0.8 1.2 1.1 1.2 0.8 :
M/M1 % 0.2 0.1 0.2 0.3 0.5 1 0.2 1 0 0.4 0.1 :
M/M12 % 1.7 1.9 1.6 2.4 1.9 2.5 2.4 0.5 0.1 0.7 0.7 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
total (2) % 6.8 7.2 7 7.1 7.2 6.7 7.1 6.6 7 7.2 6.7 :
Unemployment
age <25 year (2) % 17.4 19.6 19.6 19.4 19.3 18.4 20.1 16.9 20.1 19.6 17.4 :
rate
age >25 year (2) % 5.3 5.5 5.2 5.3 5.5 5.1 5.3 5.2 5.3 5.5 5.3 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
Employment Q/Q1 % (1) 0.5 0.7 0.5 0.6 : Q/Q4 % 1.1 1.8 1.7 2.3 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
M/M1 % (1) 0.4 2.7 2.1 0 0.5 0.1 2.7 1 1.3 3.8 7.6 :
M/M12 % (3) 7.5 1.6 6.6 5.7 5.7 3 1.9 2.9 1.9 6.4 1.5 :
M/M1 % (1) 0.7 1.2 2.7 1.7 2.3 0.7 1.1 0.9 6.5 10.8 3.1 :
M/M12 % 14 16.8 19.8 13.3 15.5 11.9 12.2 15.4 16.4 5.1 6.1 :
M/M1 % (1) 0.6 2.2 1 0.1 0.4 0.4 2.7 1.2 0.8 0.4 0.5 :
M/M12 % 8 5.7 3.2 2.8 1.2 1.7 5.2 3.4 1 2.1 0.5 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
% 0.6 2.5 0.5 2.7 :
/surplus (+)
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
% 0.8 0.93 1.02 0.77 0.82 0.81 0.77 0.52 0.17 0.1 0.22 :
bond yields
Swedish Krona exchange rates
Average 9.3133 9.2451 9.2826 9.4105 9.2848 9.2027 9.2948 9.3338 9.4742 9.4913 9.5655 9.7073
against the euro
Indicator Source

Sweden

9.0 115.0 (PFC,I) (RT)
6.0 6
6.0 110.0 4.0 4
3.0 105.0 2.0 2
0.0 100.0 0.0 0
3.0 95.0 2.0 2
6.0 90.0 4.0 4

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
% Growth Rate
Growth Rate
7.8 1.5
3.0
7.4 1.0 2.0
1.0
7.0 0.5
0.0
6.6 0.0 1.0

10
2.0
6.2 -0.5
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 3.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
Mio EUR Swedish

% Krona/
7000 5.0 10.50
6000 4.0 10.00
5000 3.0 9.50
4000 2.0 9.00
3000 1.0 8.50
2000 0.0 8.00

1000 -1.0 7.50
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
0
External trade balance BOP current account Swedish Krona exchange rates against the euro

Detailed PEEIs analysis for United Kingdom

2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
GDP (volume) Q/Q1 % (1) 0.3 0.7 0.4 0.7 0.5 Q/Q4 % 1.7 1.8 2.3 0.6 :
Q/Q1 % (1) 0.9 0.4 0.7 0.9 : Q/Q4 % 2.4 2.9 2.9 3.1 :
(volume)
0.9 1.3 0.1 1.6 : Q/Q4 % 4.6 1.3 1.5 1.3 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
2882.5 202.2 3178.2 4801.7 8585.9 10944.8 7636.9 8446.3 9029.7 12139.5 : :
(extra EU28) (2)
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
BOP Current account
mn euro 35744.142323.733220.433021.9:
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
Inflation (Harmonized Index M/M1 % 0 0.1 0.8 0.2 0.4 0.1 0.2 0.2 0.1 0.3 : :
of Consumer Prices All items) M/M12 % 0.1 0.2 0.3 0.3 0.5 0.3 0.3 0.5 0.6 0.6 : :
M/M1 % 0.6 1.2 1.1 0 1.4 0.7 0.8 1.1 0.5 0.1 0.4 :
M/M12 % 7.1 5.6 4.1 5 4.2 3.7 3.4 2 0.8 1.5 1.8 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
total % 5 5 5.1 5 5 4.9 4.9 4.9 4.9 : : :
Unemployment
age <25 year % 13.3 13.4 13.4 13.4 13.3 13.2 13.5 13.5 13.5 : : :
rate ( )
2
age >25 year % 3.7 3.7 3.7 3.7 3.7 3.6 3.5 3.5 3.6 : : :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
Labour Cost Index Q/Q1 % (1) 1.1 0.2 0.2 1 : Q/Q4 % (3) 4 4.3 0.2 2.5 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
Employment Q/Q1 % (1) Q/Q4 % 1.6 1.9 1.3 2 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
M/M1 % (1) 0.8 1.1 0.8 0.1 0.5 2.2 0.7 0 0.1 0.4 0.3 :
M/M12 % (3) 0.4 0.3 0.6 1.1 0.4 4.3 3.6 1.1 2.3 2.3 0.3 :
M/M1 % (1) 0.4 3.2 0.6 0.2 2.5 3.5 2.3 0.9 4.7 1.3 : :
M/M12 % 2.3 4.2 0 4.8 0.6 0.8 2.2 0.5 8.9 2.5 : :
M/M1 % (1) 1.4 1.1 1.8 0.5 0.1 1.1 1.2 0.8 1.8 0.1 0 :
M/M12 % 4.7 2.1 5.1 4.1 3 5 5.9 3.7 6.1 6.6 4.3 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
% 4.6 5.6 0.4 5 :
/surplus (+)
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
Economic sentiment indicator (2) index 107.1 110.1 106.6 105 106 104.4 105.7 107 102.6 104 104.6 105.8
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
% 1.94 1.87 1.73 1.44 1.46 1.48 1.43 1.18 0.79 0.59 0.67 :
bond yields
Pound Sterling exchange rates
Average 0.70658 0.72595 0.75459 0.77559 0.7802 0.7923 0.77779 0.79049 0.84106 0.85521 0.85228 0.8939
against the euro
Indicator Source

United Kingdom

9.0 115.0 (PFC,I) (RT)
3.0 3
6.0 110.0 2.0 2
3.0 105.0 1.0 1
0.0 100.0 0.0 0
3.0 95.0 1.0 1
6.0 90.0 2.0 2

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
% Growth Rate
Growth Rate
5.6 1.5
3.0
5.2 1.0 2.0
1.0
4.8 0.5
0.0
4.4 0.0 1.0

10
2.0
4.0 -0.5
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 3.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09

Mio EUR Pound

% Sterling/
0 4.0 1.10
-5000
3.0
-10000 1.00
-15000 2.0
-20000 0.90
1.0
-25000
-30000 0.80
0.0
-35000
-40000 -1.0 0.70
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
-45000
External trade balance BOP current account Pound Sterling exchange rates against the euro

Detailed PEEIs analysis for Norway

2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
GDP (volume) Q/Q1 % (1) 1.5 1.3 1.0 0.0 : Q/Q4 % 2.6 0.2 0.6 2.5 :
Q/Q1 % (1) 0.1 0.5 0.5 0.4 : Q/Q4 % 2.1 1.8 1.2 2.8 :
(volume)
0.7 0.6 1.6 0.1 : Q/Q4 % 4.4 2.2 1.5 1.2 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10

(rest of the world)
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
BOP Current account
mn euro 8021.9 5375.7 3773.2 3614.2 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
M/M1 % 1.1 2.7 0.8 2.5 1.4 1.0 1.7 2.0 1.3 1.1 0.7 :
M/M12 % 3.0 4.4 1.2 5.6 4.0 3.8 1.8 1.3 1.5 2.0 1.1 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
total (2) % 4.6 4.5 4.8 4.7 4.7 4.6 4.7 4.8 5.0 4.9 : :
Unemployment
age <25 year (2) % 9.8 10.0 11.1 11.1 11.7 11.5 11.5 10.9 11.1 10.9 : :
rate
age >25 year (2) % 3.8 3.7 3.7 3.7 3.6 3.6 3.7 3.9 4.0 4.0 : :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
Labour Cost Index Q/Q1 % (1) Q/Q4 %
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
Employment Q/Q1 % (1) 0.0 0.2 0.1 0.1 : Q/Q4 % 0.1 0.2 0.1 0.4 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
M/M1 % (1) 0.0 0.8 1.3 0.3 0.1 0.8 0.5 4.1 4.6 4.7 : :
M/M12 % (3) 1.7 2.0 0.9 0.7 1.7 6.0 1.5 5.8 0.5 6.5 : :
M/M1 % (1)
M/M12 %
M/M1 % (1) 0.3 1.3 0.7 0.6 0.6 0.1 1.7 0.7 0.7 0.4 0.3 :
M/M12 % 0.8 1.2 0.5 0.9 1.7 4.3 2.0 0.0 1.4 1.1 0.6 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
% 5.3 3.1 6.9 6.2 :
/surplus (+)
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
3month interest rate (4) % 1.15 1.14 1.16 1.09 1.02 0.98 0.98 1.02 1.01 1.08 1.09 1.11
% 1.63 1.55 1.45 1.39 1.33 1.30 1.40 1.17 0.96 1.07 1.23 1.34
bond yields (4)
Norwegian Krone exchange
Average 9.26 9.46 9.59 9.56 9.43 9.32 9.30 9.33 9.37 9.30 9.20 9.00
rates against the euro (5)
(4) Source: OECD Main Economic Indicators database
(5) Source: ECB
Indicator Source

Norway

9.0 (PFC,I) (RT)
2.0 3
6.0 1.0 2
3.0 0.0 1
0.0 1.0 0
3.0 2.0 1
6.0 3.0 2
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
GDP (q/q-1) Industrial Production (m/m-1) Retail trade (RT) (m/m-1)
% Growth Rate
Growth Rate
5.2 1.5
3.0
4.8 1.0 2.0
1.0
4.4 0.5
0.0
4.0 0.0 1.0

10
2.0
3.6 -0.5
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 3.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
Employment (q/q-1) Unemployment rate Total (%)
Mio EUR Norvegian

% Krone/
6000 5.0 9.80
4.0 9.40
5000
3.0
4000 9.00
2.0
3000 8.60
1.0
2000 8.20
0.0
1000 -1.0 7.80
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
0
BOP current account Norwegian Krone exchange rates against the euro

Detailed PEEIs analysis for Switzerland

2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
GDP (volume) Q/Q1 % (1) 0.2 0.5 0.3 0.6 : Q/Q4 % 0.8 0.5 1.1 2.0 :
Q/Q1 % (1) 0.3 0.0 0.5 0.0 : Q/Q4 % 1.2 0.8 1.2 1.0 :
(volume)
0.1 0.1 2.2 0.7 : Q/Q4 % 2.3 0.1 3.7 1.5 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10

2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
BOP Current account
mn euro 21567.4 12917.3 8914.7 16095.9 :
(all countries of the world) (1) (2)
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
M/M1 % 0.3 0.3 0.1 0.5 0.0 0.1 0.1 0.1 0.1 0.2 0.1 :
M/M12 % 3.6 3.6 3.6 3.5 3.6 1.9 1.0 0.9 0.7 0.3 0.2 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
total (2) (3) (4) % : : : : : : : : : : : :
Unemployment
age <25 year % : : : : : : : : : : : :
rate
age >25 year % : : : : : : : : : : : :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
Labour Cost Index (2) Q/Q1 % Q/Q4 %
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
Employment (2) (5) Q/Q1 % (1) 0.3 1.4 0.3 0.5 : Q/Q4 % 1.0 0.3 1.2 1.8 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
M/M1 % (1)
M/M12 %
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
Production in construction Q/Q1 % : : : : : Q/Q4 % : : : : :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
M/M1 % (1) 0.7 0.7 0.8 0.8 0.2 0.1 0.2 0.5 0.3 0.1 0.2 :
M/M12 % 1.4 1.8 0.5 1.0 1.5 2.1 1.9 3.5 3.3 2.8 2.3 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
% 1.3 1.4 0.6 0.9 :
/surplus (+)
General government gross debt %
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
3month interest rate (3) % 0.83 0.76 0.76 0.80 0.73 0.73 0.74 0.78 0.75 0.74 0.75 0.73
% 0.31 0.04 0.30 0.45 0.39 0.25 0.30 0.51 0.54 0.46 0.52 0.36
bond yields (3)
Swiss Franc exchange rates
Average 1.08 1.08 1.09 1.10 1.09 1.09 1.11 1.09 1.09 1.09 1.09 1.09
against the euro (7)
( ) sa: Seasonally adjusted data
1
(2) Calculated by Eurostat from OECD Main Economic Indicators database. There may be rounding differences with data published nationally
(3) Source: OECD Main Economic Indicators database
(4) Registered unemployment rate
(5) Civilian employment: all persons
(6) New orders for total manufacturing
(7) Source: ECB

Switzerland

3.0 (PFC,I) (RT)
3.0 3
2.0
2.0 2
1.0
1.0 1
0.0
0.0 0
1.0
1.0 1
2.0
3.0 2.0 2
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
GDP (q/q-1) Retail trade (RT) (m/m-1)
Growth Rate
Growth Rate
1.5
3.0
2.0
1.0
1.0
0.5 0.0
1.0
10
0.0
2.0
0.5 3.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
Employment (q/q-1) Industrial producer prices (m/m-1) HICP (m/m-1)
Mio EUR % Swiss Franc/
18000 1.5 1.50
16000
1.0 1.40
14000
12000 0.5 1.30
10000
0.0 1.20
8000
6000 -0.5 1.10
4000
2000 -1.0 1.00
0 2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
BOP current account Swiss Franc exchange rates against the euro

Detailed PEEIs analysis for United States

2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
GDP (volume) (1) Q/Q1 % 0.5 0.2 0.2 0.4 0.7 Q/Q4 % 2.2 1.9 1.6 1.3 1.5
Private final consumption (1)
Q/Q1 % 0.7 0.6 0.4 1.1 0.5 Q/Q4 % 3.1 2.6 2.4 2.7 2.6
(volume)
Investment (GFCF) (volume) (1) Q/Q1 % 1.2 0.0 0.2 0.7 0.3 Q/Q4 % 3.6 3.2 2.7 0.6 0.9
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
56892.7 56872.3 57633.5 57685.0 50432.4 50639.4 53956.3 57262.4 53085.2 52640.0 50428.1 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
BOP Current account
mn euro 110736.7103538.8119635.2106168.1 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
of Consumer Prices All items) (2) M/M12 % 0.4 0.7 1.3 1.0 0.9 1.1 1.1 1.0 0.9 1.1 1.5 :
M/M1 % 0.4 1.2 0.6 0.6 0.3 0.7 0.8 0.9 0.3 0.4 0.4 :
Industrial producer prices (2)
M/M12 % 5.1 4.4 2.9 3.6 3.7 2.8 3.3 2.9 2.9 2.5 0.6 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
total % 5.0 5.0 4.9 4.9 5.0 5.0 4.7 4.9 4.9 4.9 5.0 :
Unemployment
age <25 year % 11.2 11.2 10.3 10.5 10.4 10.8 10.4 10.7 10.8 10.2 10.3 :
rate ( )
3
age >25 year % 4.1 4.0 4.0 4.1 4.1 4.1 3.8 4.0 4.0 4.1 4.2 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
Labour Cost Index (2) (3) (4) Q/Q1 % 0.6 0.7 0.6 0.6 0.7 Q/Q4 % 2.1 2.4 2.5 2.4 2.5
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
Employment (2) (5) Q/Q1 % 0.2 0.4 1.0 0.0 0.4 Q/Q4 % 1.6 1.4 1.9 1.6 1.9
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
M/M1 %
M/M12 %
M/M1 % : : : : : : : : : : : :
M/M12 % : : : : : : : : : : : :
M/M1 %
M/M12 %
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
%
/surplus (+)
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
Economic sentiment indicator index
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
% 2.26 2.24 2.08 1.77 1.88 1.80 1.80 1.64 1.49 1.56 1.63 1.76
bond yields
Euro-dollar exchange rate (6) Avergae 1.07 1.09 1.09 1.11 1.11 1.13 1.13 1.12 1.11 1.12 1.12 1.10
(1) Source: OECD Main Economic Indicators database Seasonally adjusted data
(4) Hourly earnings
(6) Source: ECB
: not available data; - not existing data

United States
Growth rate Growth rate

3.0 (PFC,I)
3.0
2.0
2.0
1.0
1.0
0.0
0.0
1.0
1.0
2.0
3.0 2.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
Private Final Consumption (PFC) (q/q-1) Investment (I) (q/q-1)

GDP (q/q-1)
% Growth Rate
Growth Rate
5.8 1.5
3.0
5.4 1.0 2.0
1.0
5.0 0.5
0.0
4.6 0.0 1.0

10
2.0
4.2 -0.5
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 3.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
Unemployment rate Total (%) Industrial producer prices (m/m-1) CPI (m/m-1)
Mio EUR % /$
0 5.0 1.50
-20000 4.0 1.40
-40000 3.0 1.30
-60000 2.0 1.20
-80000 1.0 1.10
-100000 0.0 1.00
-120000 -1.0 0.90

2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
-140000
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 3-month interest rate Long term government bond yields
BOP current account External trade balance Euro-dollar exchange rate

Detailed PEEIs analysis for Japan

2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
GDP (volume) (1) Q/Q1 % 0.5 0.4 0.5 0.2 : Q/Q4 % 1.8 0.8 0.1 0.8 :
Q/Q1 % 0.5 0.8 0.7 0.2 : Q/Q4 % 0.5 1.0 0.3 0.5 :
(volume) (1)
Investment (GFCF) (volume) (1) Q/Q1 % 0.2 0.0 0.4 1.1 : Q/Q4 % 2.2 2.1 0.3 1.0 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
705.9 403.1 844.3 1194.7 1986.9 3029.0 2167.4 2841.9 2755.4 3228.7 3050.0 :
(All countries of the world) (2) (3)
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
BOP Current account
mn euro 29321.2 36105.4 39098.3 38453.5 :
(All countries of the world) (2) (3)
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
Consumer Prices Index All M/M1 % 0.1 0.0 0.2 0.2 0.1 0.1 0.1 0.1 0.2 0.1 0.0 :
items) (2) M/M12 % 0.3 0.2 0.0 0.2 0.0 0.3 0.5 0.3 0.4 0.5 0.5 :
M/M1 % 0.1 0.5 1.2 0.4 0.0 0.4 0.0 0.3 0.1 0.2 0.1 :
Industrial producer prices (2)
M/M12 % 3.2 3.2 3.0 3.2 3.5 4.0 4.2 4.0 3.7 3.4 3.2 :
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
total % 3.3 3.3 3.2 3.3 3.2 3.2 3.2 3.1 3.0 3.1 3.0 :
Unemployment
age <25 year % 5.1 5.2 5.0 5.9 5.8 4.9 5.3 5.2 4.8 5.4 5.3 :
rate ( )
3
age >25 year %
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
Labour Cost Index (2) (4) Q/Q1 % 0.5 0.1 0.5 0.0 : Q/Q4 % 0.3 0.4 1.1 1.0 :
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
Employment (2) (5) Q/Q1 % (1) 0.3 0.0 0.5 0.1 0.6 Q/Q4 % 0.4 0.4 0.7 0.9 1.3
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
M/M1 %
M/M12 %
M/M1 % : : : : : : : : : : : :
M/M12 % : : : : : : : : : : : :
M/M1 %
M/M12 %
2015Q3 2015Q4 2016Q1 2016Q2 2016Q3
%
/surplus (+)
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
Economic sentiment indicator index
2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10
% 0.3 0.3 0.2 0.0 0.1 0.1 0.1 0.2 0.3 0.1 0.0 0.1
bond yields
Yen exchange rates
131.6 132.4 128.3 127.4 125.4 124.3 123.2 118.5 115.3 113.5 114.2 114.5
against the euro (6)
(1) Source: OECD Main Economic Indicators database Seasonally adjusted data
(4) Monthly earnings
(6) Source: ECB

Japan
Growth rate Growth rate

3.0 (PFC,I)
3.0
2.0
2.0
1.0
1.0
0.0
0.0
1.0
1.0
2.0
3.0 2.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
Private Final Consumption (PFC) (q/q-1) Investment (I) (q/q-1)

GDP (q/q-1)
% Growth Rate
Growth Rate
4.0 1.5
3.0
3.6 1.0 2.0
1.0
3.2 0.5
0.0
2.8 0.0 1.0

10
2.0
2.4 -0.5
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09 3.0
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
Unemployment rate Total (%) Industrial producer prices (m/m-1) CPI (m/m-1)
Mio EUR Romenian

% Leu/
45000 5.0 160.00
40000 4.0 150.00

35000 140.00
3.0
30000 130.00
25000 2.0
120.00
20000 1.0
110 00
110.00
15000
0.0 100.00
10000
-1.0 90.00
5000
2015M11 2016M01 2016M03 2016M05 2016M07 2016M09
0
BOP current account External trade balance Yen exchange rate against the euro

Cross-country comparisons
Figure : Gross Domestic Product, in volume Q/Q1
Quarterly growth in percentage, 2016 Q2
2.0
1.5
1.0
0.5
0.0
0.5
1.0
fr it fi no at jp el mt ea19 pt us eu28 dk de lt be ee hr si se lv nl ch cy uk es bg cz pl sk hu ro lu
Graph 6: Private Consumption, in volume Q/Q1

Quarterly growth in percentage, 2016 Q2
4.0
3.0
2.0
10
1.0
0.0
1.0
ro lt lu cy lv hu us si fi uk hr sk ee es pl dk eu28 be at no ea19 de jp bg cz it nl ch fr se pt el mt
Graph 6: Balance of payments, current account

Millions of euro, 2016 Q2
100000.0
50000.0
0.0
50000.0
50000 0
100000.0
150000.0
us uk fr fi ro pt cy el lt lv mt cz ee hr be sk lu at bg si pl hu se no ie dk es it nl ch eu28 jp de

Figure : Harmonized Index of Consumer Prices: all items, M/M1
Monthly growth in percentage, 2016 M09
3.0
2.0
1.0
0.0
1.0
it at lt el es pt ea lv no lu si eu hr hu fi se dk de ee pl sk ch cz fr ro be ie cy nl bg mt
Figure : Unemployment rates, harmonized rates: total

As a percentage of unemployed persons in the total number of active population, 2016 M09
25.0
20.0
15.0
10 0
10.0
5.0
0.0
jp cz de mt us nl pl ro dk lu at se bg si ie be lt eu28 fi lv sk ea19 fr pt it cy hr es
Figure : Long term interest rates Long term government bond yields*
Average according to Maastricht definition, 2016 M09
10.0
8.0
6.0
40
4.0
2.0
0.0
el cy hr pt ro hu pl pl bg it es eu28 lt si uk ea mt ie sk cz se be fr at lv fi nl dk lu de
(*) for more information, see footnote on LU table

Symbols and codes in the tables

EU-28: European Union (28 countries)
EA: Euro area (EA-11 up to 31.12.2000 / EA-12 up to 31.12.2006 / EA-13 up to 31.12.2007 / EA-15 up to 31.12.2008 / EA-
16 up to 31.12.2010 / EA-17 onwards up to 31.12.2013 / EA-18 up to 31.12.2014 /EA-19 onwards)
EA-19: Euro area (19 countries)
BE: Belgium
BG: Bulgaria
CZ: Czech Republic
DK: Denmark
DE: Germany (including ex-GDR from 1991)
EE: Estonia
IE: Ireland
EL: Greece
ES: Spain
FR: France
HR: Croatia
IT: Italy
CY: Cyprus
LV: Latvia
LT: Lithuania
LU: Luxembourg (Grand-Duch)
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: Switzerland
US: 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 Eurostats European and National Short-Term
Indicators database on 9th November 2016.

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Eurostatistics

DATA FOR SHORT-TERM ECONOMIC ANALYSIS 11/2016

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

Luxembourg: Publications Office of the European Union, 2016

Theme: General and regional statistics

European Union, 2016

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

Cover photo: Shutterstock-isak55

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

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

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

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

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

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

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

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

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

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

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

Eurostatistics 11/2016 edition  3

International context: GDP European Union and euro area:

Eurostatistics 11/2016 edition 5

Latest macroeconomic developments

6  Eurostatistics 11/2016 edition

Growth forecasts for the euro area

Eurostatistics 11/2016 edition  7

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

Cyclical indicators for the euro area

8  Eurostatistics 11/2016 edition

2016M6 2016M7 2016M8 2016M9 2016M10

Figure: OECD Leading indicator

Eurostatistics 11/2016 edition  9

Table: Turning point indicators for the euro area

2016M5 2016M6 2016M7 2016M8 2016M9 2016M10

Figure: IARC indicator

Figure: IESR indicator

10  Eurostatistics 11/2016 edition

2300000 80000 3050000 100000

1500000 80000 2250000 150000

2300000 80000 3050000 100000

1500000 80000 2250000 150000

GDP Trend Cycle GDP Trend Cycle

2300000 80000 3050000 100000

1500000 80000 2250000 150000

GDP Trend Cycle GDP Trend Cycle

Eurostatistics 11/2016 edition  11

IPI Trend Cycle IPI Trend Cycle

IPI Trend Cycle IPI Trend Cycle

12  Eurostatistics 11/2016 edition

120000 6000 205000 4000

120000 6000 205000 4000

Employment Trend Cycle Employment Trend Cycle

120000 6000 205000 4000

Employment Trend Cycle Employment Trend Cycle

Eurostatistics 11/2016 edition  13

14  Eurostatistics 11/2016 edition

Eurostatistics 11/2016 edition  15

Eurostatistics 11/2016 edition 17

Detailed PEEIs analysis for European Union (EU28)

18  Eurostatistics 11/2016 edition

Growth rate Index Growth rate Growth rate

Graph 3: Labour Graph 4: Prices

% Growth rate Growth Rate

Eurostatistics 11/2016 edition 3

6 Eurostatistics 11/2016 edition

Eurostatistics 11/2016 edition 7

8 Eurostatistics 11/2016 edition

Eurostatistics 11/2016 edition 9

10 Eurostatistics 11/2016 edition

Eurostatistics 11/2016 edition 11

12 Eurostatistics 11/2016 edition

Eurostatistics 11/2016 edition 13

14 Eurostatistics 11/2016 edition

Eurostatistics 11/2016 edition 15

18 Eurostatistics 11/2016 edition

Eurostatistics 11/2016 edition 19

20 Eurostatistics 11/2016 edition

Eurostatistics 11/2016 edition 21

22 Eurostatistics 11/2016 edition

Eurostatistics 11/2016 edition 23

24 Eurostatistics 11/2016 edition

Eurostatistics 11/2016 edition 25

26 Eurostatistics 11/2016 edition

Eurostatistics 11/2016 edition 27

28 Eurostatistics 11/2016 edition