Markets Actual Q4 Q1 Q2 Q3 2022
Currency 1.16 1.16 1.15 1.15 1.15 1.14
Stock Market (points) 4223.97 4089 3982 3877 3776 3580

Overview Actual Q4 Q1 Q2 Q3 2022
GDP Growth Rate (%) 2.20 1.5 1 0.6 0.5 0.5
GDP Annual Growth Rate (%) 14.30 4.9 6.2 4.5 3.2 2.2
Unemployment Rate (%) 7.50 7.8 8.1 7.9 7.8 7.7
Inflation Rate (%) 3.40 2.4 1.5 1.1 1.4 1.5
Inflation Rate Mom (%) 0.50 0.5 0.4 0.3 0.4 0.6
Interest Rate (%) 0.00 0 0 0 0 0
Balance of Trade (EUR Million) 4810.10 32000 7800 22000 23600 32000
Current Account (EUR Billion) 17.60 28.9 32 26 23.4 30
Current Account to GDP (% of GDP) 3.00 3.2 3 3 3 3
Government Debt to GDP (% of GDP) 98.00 102 101 101 101 101
Government Budget (% of GDP) -7.20 -8 -4 -4 -4 -4
Business Confidence (points) 1.72 0.9 0.5 0.7 0.8 1
Manufacturing PMI (points) 58.50 55.6 54 53.2 53.8 54
Services PMI (points) 54.70 54.6 54 54.5 54.7 55
Consumer Confidence (points) -4.80 -12 -7 -6 -7 -8
Retail Sales MoM (%) 0.30 0.7 1.2 1 -0.4 0.6
Corporate Tax Rate (%) 22.70 23.3 22.7 22.7 22.7 22.7
Personal Income Tax Rate (%) 41.70 41.5 41.7 41.7 41.7 41.7

GDP Actual Q4 Q1 Q2 Q3 2022
GDP Growth Rate (%) 2.20 1.5 1 0.6 0.5 0.5
GDP Annual Growth Rate (%) 14.30 4.9 6.2 4.5 3.2 2.2
GDP (USD Billion) 12933.36 13600 14200 14200 14200 14200
GDP Constant Prices (EUR Billion) 2777.14 2858 2885 2902 2866 2921
Gross Fixed Capital Formation (EUR Billion) 595.52 619 625 622 615 633
GDP per capita (USD) 38543.24 39200 40100 40100 40100 40100
GDP per capita PPP (USD) 43681.04 46200 47000 47000 47000 47000

Labour Actual Q4 Q1 Q2 Q3 2022
Unemployment Rate (%) 7.50 7.8 8.1 7.9 7.8 7.7
Unemployed Persons (Thousand) 12162.00 12200 13200 13600 13400 13200
Employed Persons (Million ) 158.95 158 158 159 160 160
Long Term Unemployment Rate (%) 3.20 4.2 4 3.9 3.8 3.7
Youth Unemployment Rate (%) 16.50 12.9 16.7 17 16.8 16.7
Productivity (points) 104.40 104 104 104 105 105
Labour Costs (points) 115.80 125 122 109 120 125
Wages (EUR/Month) 1903.00 1942 1981 1991 1964 2039
Wage Growth (%) -0.40 4.5 4.6 3.2 3 2.9
Population (Million) 342.41 343 345 345 345 345
Employment Change (%) 0.70 0.7 0.6 0.4 0.3 0.5
Labor Force Participation Rate (%) 73.60 72.8 72.8 72.9 73 73.3
Retirement Age Men 64.61 65 65 65 65 65
Retirement Age Women 64.29 64.75 65 65 65 65

Prices Actual Q4 Q1 Q2 Q3 2022
Inflation Rate (%) 3.40 2.4 1.5 1.1 1.4 1.5
Inflation Rate Mom (%) 0.50 0.5 0.4 0.3 0.4 0.6
Consumer Price Index CPI (points) 108.49 108 108 109 110 109
Core Consumer Prices (points) 106.90 107 107 108 108 108
Core Inflation Rate (%) 1.90 1.7 1.3 1.4 1.5 1.6
GDP Deflator (points) 108.27 110 110 109 110 112
Producer Prices (points) 114.90 111 110 113 117 113
Producer Prices Change (%) 13.40 7.5 2.5 2 1.8 1.7
Food Inflation (%) 1.90 1.4 1.6 1.8 2.1 2
CPI Housing Utilities (points) 109.94 107 108 109 111 109
CPI Transportation (points) 111.76 112 113 113 114 114

Money Actual Q4 Q1 Q2 Q3 2022
Interest Rate (%) 0.00 0 0 0 0 0
Money Supply M1 (EUR Million) 10948089.00 11280000 11410000 11510000 11690000 11880000
Interbank Rate (%) -0.56 -0.56 -0.56 -0.56 -0.56 -0.56
Money Supply M2 (EUR Million) 14349959.00 15200000 15290000 15440000 15540000 15600000
Money Supply M3 (EUR Million) 15105186.00 15600000 15800000 15900000 16100000 16200000
Foreign Exchange Reserves (USD Billion) 71.29 79 77 82 84 85
Central Bank Balance Sheet (EUR Million) 8336713.00 8320000 8290000 8250000 8280000 8340000
Loans to Private Sector (EUR Million) 4872130.00 5078549 5204731 5084786 5028038 5190277
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 (%) 4.20 3.4 2.6 2.2 2.3 2

Trade Actual Q4 Q1 Q2 Q3 2022
Balance of Trade (EUR Million) 4810.10 32000 7800 22000 23600 32000
Current Account (EUR Billion) 17.60 28.9 32 26 23.4 30
Current Account to GDP (% of GDP) 3.00 3.2 3 3 3 3
Imports (EUR Million) 179459.30 164000 201200 162200 175800 169000
Exports (EUR Million) 184269.40 196000 209000 184200 199400 201000
External Debt (EUR Million) 15388936.92 16600000 16500000 16700000 16800000 17000000
Capital Flows (EUR Billion) 6.52 17 14 21 23 19
Gold Reserves (Tonnes) 504.77 505 505 505 505 505

Government Actual Q4 Q1 Q2 Q3 2022
Government Debt to GDP (% of GDP) 98.00 102 101 101 101 101
Government Budget (% of GDP) -7.20 -8 -4 -4 -4 -4
Government Spending (EUR Billion) 607.33 632 637 635 627 646
Government Spending to GDP (% of GDP) 54.10 54 50 50 50 50
Government Debt (EUR Million) 11107741.00 12200000 12700000 12700000 12700000 12700000

Taxes Actual Q4 Q1 Q2 Q3 2022
Corporate Tax Rate (%) 22.70 23.3 22.7 22.7 22.7 22.7
Personal Income Tax Rate (%) 41.70 41.5 41.7 41.7 41.7 41.7
Sales Tax Rate (%) 20.70 20.8 20.7 20.7 20.7 20.7

Business Actual Q4 Q1 Q2 Q3 2022
Business Confidence (points) 1.72 0.9 0.5 0.7 0.8 1
Manufacturing PMI (points) 58.50 55.6 54 53.2 53.8 54
Services PMI (points) 54.70 54.6 54 54.5 54.7 55
Composite PMI (points) 54.30 54.7 54.2 54 54.6 54.9
Industrial Production (%) 5.10 5 4.2 4.7 4.3 3.6
Industrial Production Mom (%) -1.60 0.7 0.9 0.7 -0.8 0.5
Manufacturing Production (%) 6.10 5.6 3.4 4.3 3.7 3.2
Capacity Utilization (%) 82.90 80 81 81.5 82 82
Zew Economic Sentiment Index 21.00 10 5 12 19 15
Car Registrations (Thousand) 660.96 980 380 720 910 1050
Mining Production (%) -3.20 4.8 4 4.8 4 3.4
Industrial Sentiment 14.10 9 5.1 4 4.2 3.6
Services Sentiment 15.10 10 15 11 16 19

Consumer Actual Q4 Q1 Q2 Q3 2022
Consumer Confidence (points) -4.80 -12 -7 -6 -7 -8
Retail Sales MoM (%) 0.30 0.7 1.2 1 -0.4 0.6
Retail Sales YoY (%) 0.00 4.5 5.1 5.5 4.5 3.8
Consumer Spending (EUR Billion) 1438.38 1486 1473 1503 1484 1519
Disposable Personal Income (EUR Million) 1857846.00 1917980 1973032 1941449 1917297 1960176
Personal Savings (%) 19.04 14 12.9 12.6 12.2 12.5
Private Sector Credit (EUR Million) 12131644.00 12332814 12375388 12336661 12410672 12579470
Bank Lending Rate (%) 1.71 1.71 1.71 1.71 1.71 1.71
Economic Optimism Index 117.80 110 111 110 106 107
Consumer Credit (EUR Million) 697658.17 736332 736648 726339 719983 752532
Households Debt To GDP (% of GDP) 62.80 65 63 63 63 63
Households Debt To Income (%) 96.19 101 97 97 97 97
Consumer Confidence Price Trends (points) 33.10 25 19 20 22 23

Housing Actual Q4 Q1 Q2 Q3 2022
Construction Output (%) -1.60 5.1 3.6 4 3.6 3.8
Housing Index (points) 132.43 134 136 133 134 132
Construction PMI (points) 50.00 52 52.9 53.4 53.2 54
Home Ownership Rate (%) 65.80 65 64.6 64.6 64.6 64.6


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.