Markets Actual Q3 Q4 Q1 Q2 2021
Currency 1.19 1.18 1.17 1.17 1.17 1.16
Stock Market (points) 3260.73 3203 3133 3064 2997 2862

Overview Actual Q3 Q4 Q1 Q2 2021
GDP Growth Rate (%) -12.10 7.5 2.9 1.6 1.4 1
GDP Annual Growth Rate (%) -15.00 -8 -4.8 -0.6 12.6 4
Unemployment Rate (%) 7.80 9.5 9.6 9.4 9.1 8.8
Inflation Rate (%) 0.40 0.1 0.3 0.6 1.3 1.4
Inflation Rate Mom (%) -0.30 -0.3 0.4 0.5 0.3 0.5
Interest Rate (%) 0.00 0 0 0 0 0
Balance of Trade (EUR Million) 9394.20 13300 13000 29500 16200 14000
Current Account (EUR Billion) -10.52 24.5 25.1 32 28 28.9
Current Account to GDP (%) 2.70 3.4 3.4 3.6 3.6 3.6
Government Debt to GDP (%) 84.10 102 102 98 98 98
Government Budget (% of GDP) -0.60 -8.4 -8.4 -4 -4 -4
Business Confidence (points) -1.80 -1.3 -1 -0.3 0.5 -0.1
Manufacturing PMI (points) 51.80 52 50.1 51 54 52
Services PMI (points) 54.70 43 47 50 53.6 51
Consumer Confidence (points) -15.00 -18.4 -16.5 -14 -10 -12
Retail Sales MoM (%) 5.70 -1.6 -0.7 1 0.9 0.6
Corporate Tax Rate (%) 23.30 23.3 23.3 23.3 23.3 23.3
Personal Income Tax Rate (%) 41.50 41.5 41.5 41.5 41.5 41.5

GDP Actual Q3 Q4 Q1 Q2 2021
GDP Growth Rate (%) -12.10 7.5 2.9 1.6 1.4 1
GDP Annual Growth Rate (%) -15.00 -8 -4.8 -0.6 12.6 4
GDP (USD Billion) 13335.84 11800 11800 12700 12700 12700
GDP Constant Prices (EUR Billion) 2411.11 2786 2708 2726 3088 2816
Gross Fixed Capital Formation (EUR Billion) 600.29 585 597 597 676 621
GDP per capita (USD) 41387.60 38300 38300 39200 39200 39200
GDP per capita PPP (USD) 47037.10 45200 45200 46200 46200 46200

Labour Actual Q3 Q4 Q1 Q2 2021
Unemployment Rate (%) 7.80 9.5 9.6 9.4 9.1 8.8
Unemployed Persons (Thousand) 12685.00 14700 15900 15100 14800 14800
Employed Persons (Million ) 160.37 152 149 150 154 157
Long Term Unemployment Rate (%) 3.20 4.4 5 4.7 4.9 4.6
Youth Unemployment Rate (%) 17.00 16 16 15.8 15.5 15.5
Productivity (points) 102.00 98.4 99.9 100 100 100
Labour Costs (points) 103.20 101 111 103 104 113
Wages (EUR/Month) 1893.00 1836 1855 1897 1914 1883
Wage Growth (%) 3.40 -2.6 -2 0.2 1.1 1.5
Population (Million) 341.90 342 342 343 343 343
Employment Change (%) -0.20 0.5 -0.7 0.4 0.3 0.5
Labor Force Participation Rate (%) 57.60 55 55.2 55.6 56.2 56.7
Retirement Age Men 64.36 64.75 64.75 65 65 65
Retirement Age Women 63.96 64.5 64.5 64.75 64.75 64.75

Prices Actual Q3 Q4 Q1 Q2 2021
Inflation Rate (%) 0.40 0.1 0.3 0.6 1.3 1.4
Inflation Rate Mom (%) -0.30 -0.3 0.4 0.5 0.3 0.5
Consumer Price Index CPI (points) 105.69 105 106 106 107 107
Core Consumer Prices (points) 105.59 105 105 105 107 107
Core Inflation Rate (%) 1.20 0.5 0.6 0.9 1.2 1.5
GDP Deflator (points) 106.15 105 106 107 108 107
Producer Prices (points) 100.50 102 109 103 102 111
Producer Prices Change (%) -3.70 -2 -0.6 0.2 2.3 2
Food Inflation (%) 3.00 1.4 1.7 1.6 1.7 2.3
CPI Housing Utilities (points) 103.90 105 106 106 105 107
CPI Transportation (points) 103.77 106 107 105 105 109

Money Actual Q3 Q4 Q1 Q2 2021
Interest Rate (%) 0.00 0 0 0 0 0
Money Supply M1 (EUR Million) 9704303.00 9760000 9850000 9950000 9910000 9880000
Interbank Rate (%) -0.45 -0.44 -0.44 -0.44 -0.44 -0.44
Money Supply M2 (EUR Million) 13182065.00 14000000 14400000 14800000 14600000 15200000
Money Supply M3 (EUR Million) 13885325.00 14400000 14900000 15400000 15200000 15600000
Foreign Exchange Reserves (USD Billion) 79.21 82 85 84 86 91
Central Bank Balance Sheet (EUR Million) 6322604.00 5750000 5810000 5790000 5740000 5650000
Loans to Private Sector (EUR Million) 4828885.00 4950000 5010000 5070000 5060000 5090000
Deposit Interest Rate (%) -0.50 -0.5 -0.5 -0.5 -0.5 -0.5
Lending Rate (%) 0.25 0.25 0.25 0.25 0.25 0.25
Loan Growth (%) 3.00 0.5 0.2 0.6 1 0.7

Trade Actual Q3 Q4 Q1 Q2 2021
Balance of Trade (EUR Million) 9394.20 13300 13000 29500 16200 14000
Current Account (EUR Billion) -10.52 24.5 25.1 32 28 28.9
Current Account to GDP (%) 2.70 3.4 3.4 3.6 3.6 3.6
Imports (EUR Million) 133902.20 145500 147000 152500 142000 147000
Exports (EUR Million) 143296.40 168800 169000 182000 158200 178000
External Debt (EUR Million) 15316858.56 15500000 16100000 16500000 16200000 16600000
Capital Flows (EUR Billion) 19.64 -12 -8 22 18 15
Gold Reserves (Tonnes) 504.80 505 505 505 505 505

Government Actual Q3 Q4 Q1 Q2 2021
Government Debt to GDP (%) 84.10 102 102 98 98 98
Government Budget (% of GDP) -0.60 -8.4 -8.4 -4 -4 -4
Government Spending (EUR Billion) 581.48 595 605 612 609 605
Government Spending to GDP (%) 47.10 55 55 50 50 50
Government Debt (EUR Million) 10022826.20 11500000 11500000 12200000 12200000 12200000

Taxes Actual Q3 Q4 Q1 Q2 2021
Corporate Tax Rate (%) 23.30 23.3 23.3 23.3 23.3 23.3
Personal Income Tax Rate (%) 41.50 41.5 41.5 41.5 41.5 41.5
Sales Tax Rate (%) 20.80 20.8 20.8 20.8 20.8 20.8

Business Actual Q3 Q4 Q1 Q2 2021
Business Confidence (points) -1.80 -1.3 -1 -0.3 0.5 -0.1
Manufacturing PMI (points) 51.80 52 50.1 51 54 52
Services PMI (points) 54.70 43 47 50 53.6 51
Composite Pmi (points) 54.90 43 48 50.6 53.7 51
Industrial Production (%) -20.90 -7 -3.2 4.5 15 5
Industrial Production Mom (%) 12.40 -1.6 -0.4 1 0.9 0.7
Manufacturing Production (%) -22.10 -9 -3.6 4.5 18 5.6
Capacity Utilization (%) 72.10 72 77 75 78 80
Zew Economic Sentiment Index 59.60 16 2 4 19 4
Car Registrations (Thousand) 684.51 580 690 620 610 750
Mining Production (%) -9.10 -6 -2.8 3.6 14 4.8
Industrial Sentiment -16.20 -19 -16 -12 -8 -14
Services Sentiment -26.10 -16 -12 -8 -12 -3

Consumer Actual Q3 Q4 Q1 Q2 2021
Consumer Confidence (points) -15.00 -18.4 -16.5 -14 -10 -12
Retail Sales MoM (%) 5.70 -1.6 -0.7 1 0.9 0.6
Retail Sales YoY (%) 1.30 -4.8 -3 1.9 10 4.5
Consumer Spending (EUR Billion) 1458.97 1498 1457 1450 1643 1515
Disposable Personal Income (EUR Million) 1830723.00 1783096 1736841 1813467 2054289 1806315
Personal Savings (%) 16.90 13.2 13.4 12.8 12.7 12.5
Private Sector Credit (EUR Million) 11783111.00 12700000 13200000 13600000 13400000 12900000
Bank Lending Rate (%) 1.60 1.42 1.42 1.42 1.42 1.42
Economic Optimism Index 82.30 85 91 95 94 98
Consumer Credit (EUR Million) 702817.49 697944 687554 709844 791372 715056
Households Debt To GDP (% of GDP) 57.90 68 68 65 65 65
Households Debt To Income (%) 93.75 99 99 101 101 101
Consumer Confidence Price Trends (points) 17.50 15 16 16 18 20

Housing Actual Q3 Q4 Q1 Q2 2021
Construction Output (%) -11.90 -6.8 -3.2 2.5 16.2 5.1
Housing Index (points) 121.81 112 114 113 117 120
Construction Pmi (points) 48.30 48 50.1 51 54.2 52
Home Ownership Rate (%) 66.20 65.5 65.5 65 65 65


This page has economic forecasts for Euro Area including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Euro Area economy.