Markets Actual Q2/26 Q3/26 Q4/26 Q1/27
Stock Market (points) 5844.00 5772 5588 5447 5310
Currency 1.17 1.18 1.19 1.19 1.2
Government Bond 10Y (%) 3.42 3.37 3.31 3.27 3.22

Overview Actual Q2/26 Q3/26 Q4/26 Q1/27
GDP Growth Rate (%) 0.20 0.4 0.4 0.3 0.3
GDP Annual Growth Rate (%) 1.20 1.1 1.2 1.4 1.4
Unemployment Rate (%) 6.20 6.2 6.1 6.1 6.1
Inflation Rate (%) 2.60 3 2.8 2.7 2.6
Inflation Rate MoM (%) 1.30 0.2 0.3 0.1 0.3
Interest Rate (%) 2.15 2.4 2.4 2.65 2.65
Balance of Trade (EUR Million) 11511.90 5000 7000 10000 34000
Current Account (EUR Billion) 21.09 32 36 32 29
Manufacturing PMI (points) 52.20 52.3 51.9 51.5 52
Services PMI (points) 47.40 51.6 51.5 51.4 51.8
Business Confidence (points) -0.27 -0.7 -0.6 -0.5 -0.4
Retail Sales MoM (%) -0.20 -0.4 0.3 0.4 0.3
Consumer Confidence (points) -20.60 -17 -19 -18 -17
Current Account to GDP (% of GDP) 1.70 2.5
Government Debt to GDP (% of GDP) 87.80 88.1
Government Budget (% of GDP) -2.90 -3.3

GDP Actual Q2/26 Q3/26 Q4/26 Q1/27
GDP Growth Rate (%) 0.20 0.4 0.4 0.3 0.3
GDP Annual Growth Rate (%) 1.20 1.1 1.2 1.4 1.4
GDP Constant Prices (EUR Billion) 3095.47 3114 3126 3139 3139
Gross Fixed Capital Formation (EUR Billion) 650.90 646 654 660 660
GDP (USD Billion) 16406.13 16554
GDP per Capita (USD) 38145.12 38488
GDP per Capita PPP (USD) 56326.23 56833
Full Year GDP Growth (%) 1.40 0.9

Labour Actual Q2/26 Q3/26 Q4/26 Q1/27
Unemployment Rate (%) 6.20 6.2 6.1 6.1 6.1
Unemployed Persons (Thousand) 10919.00 10500 10710 10850 10850
Employed Persons (Million ) 153.98 154 155 155 155
Long Term Unemployment Rate (%) 2.00 2.1 2 2 2
Youth Unemployment Rate (%) 14.90 14.9 14.8 14.8 14.8
Productivity (points) 104.07 105 105 105 105
Wages (EUR/Month) 2654.00 2684 2715 2707 2710
Wage Growth (%) 3.00 2.2 2.3 2 2.1
Negotiated Wage Growth (%) 2.95 2.5 2.3 2.2 2.1
Employment Change YoY (%) 0.70 0.7 1.1 0.9 1
Employment Change (%) 0.20 0.2 0.2 0.2 0.3
Population (Million) 351.64 352

Prices Actual Q2/26 Q3/26 Q4/26 Q1/27
Inflation Rate (%) 2.60 3 2.8 2.7 2.6
Inflation Rate MoM (%) 1.30 0.2 0.3 0.1 0.3
Consumer Price Index CPI (points) 101.99 103 103 103 105
Core Inflation Rate (%) 2.30 2.7 2.9 3 2.9
Core Consumer Prices (points) 101.41 103 104 104 104
GDP Deflator (points) 121.70 124 124 125 125
Producer Prices (points) 124.80 124 125 127 127
Producer Prices Change (%) -3.00 -0.3 1.1 1.7 2
Food Inflation (%) 2.20 2.3 2.2 2.4 2.1
Inflation Expectations (%) 4.00 3 2.7 2.5 2.3
Energy Inflation (%) 5.10 6.7 5.5 4.7 3
Producer Price Inflation MoM (%) -0.70 0.4 0.4 0.2 0.2
CPI Housing Utilities (points) 101.91 102 103 103 105
CPI Transportation (points) 104.49 105 105 105 105

Money Actual Q2/26 Q3/26 Q4/26 Q1/27
Interest Rate (%) 2.15 2.4 2.4 2.65 2.65
Money Supply M2 (EUR Million) 16245831.00 16320000 16480000 16710000 16910000
Loans to Private Sector (EUR Million) 5356755.00 5381302 5403482 5451263 5474604
Deposit Interest Rate (%) 2.00 2.25 2.25 2.5 2.5
Lending Rate (%) 2.40 2.65 2.65 2.9 2.9
Loan Growth (%) 3.00 2.5 2.3 2.4 2.2

Trade Actual Q2/26 Q3/26 Q4/26 Q1/27
Balance of Trade (EUR Million) 11511.90 5000 7000 10000 34000
Current Account (EUR Billion) 21.09 32 36 32 29
Imports (EUR Million) 220896.80 234000 233000 220000 254000
Exports (EUR Million) 232408.70 239000 240000 230000 288000
Current Account to GDP (% of GDP) 1.70 2.5

Business Actual Q2/26 Q3/26 Q4/26 Q1/27
Manufacturing PMI (points) 52.20 52.3 51.9 51.5 52
Services PMI (points) 47.40 51.6 51.5 51.4 51.8
Business Confidence (points) -0.27 -0.7 -0.6 -0.5 -0.4
Composite PMI (points) 48.60 51.9 51.6 51 51.4
Industrial Production Mom (%) 0.40 0.4 0.4 0.4 0.3
Industrial Production (%) -0.60 1.4 1.6 1.2 1.5
Manufacturing Production (%) -0.80 1.2 1.8 1.7 1.6
Capacity Utilization (%) 77.60 78.4 78.6 79 78.9
ZEW Economic Sentiment Index (points) -20.40 -25 -15 -12 -7
Car Registrations (Units) 764651.00 727000 751500 762550 749400
Industrial Sentiment (points) -7.00 -7 -8 -6 -3
Services Sentiment (points) 4.90 5 2 4 1

Consumer Actual Q2/26 Q3/26 Q4/26 Q1/27
Retail Sales MoM (%) -0.20 -0.4 0.3 0.4 0.3
Consumer Confidence (points) -20.60 -17 -19 -18 -17
Retail Sales YoY (%) 1.70 0.9 1.2 1.1 1.3
Consumer Spending (EUR Billion) 1647.11 1654 1660 1670 1670
Disposable Personal Income (EUR Million) 2451271.00 2445908 2460308 2485589 2485589
Personal Savings (%) 14.44 14.5 14.4 14.2 14.2
Bank Lending Rate (%) 3.69 3.94 3.94 4.19 4.19
Economic Optimism Index (points) 96.60 98.9 97.5 97 97.6
Consumer Credit (EUR Million) 828215.00 802533 812687 823630 839810

Housing Actual Q2/26 Q3/26 Q4/26 Q1/27
Construction Output (%) -1.90 1.5 2 1.1 1.5
Housing Index (points) 157.06 158 160 161 161
Construction PMI (points) 44.60 49.5 50.5 50.9 51

Government Actual Q2/26 Q3/26 Q4/26 Q1/27
Government Debt to GDP (% of GDP) 87.80 88.1
Government Budget (% of GDP) -2.90 -3.3
Government Spending to GDP (% of GDP) 49.80 50.2