Markets Actual Q2 Q3 Q4 Q1 2023
Currency 1.06 1.04 1.03 1.01 1 0.98
Stock Market (points) 3533.17 3311 3189 3071 2957 2742

Overview Actual Q2 Q3 Q4 Q1 2023
GDP Growth Rate (%) 0.60 0 0.4 0.5 0.7 0.4
GDP Annual Growth Rate (%) 5.40 2.8 1 1.5 2 2.4
Unemployment Rate (%) 6.80 6.9 6.8 6.8 6.7 6.7
Inflation Rate (%) 8.10 8.3 7.8 6 4.4 2.2
Inflation Rate Mom (%) 0.80 0.5 0.4 0.6 0.5 0.5
Interest Rate (%) 0.00 0 0.75 1.25 1.5 1.75
Balance of Trade (EUR Million) -32438.00 11700 7600 17400 17500 17000
Current Account (EUR Billion) -5.40 19 33 31 32 34
Current Account to GDP (% of GDP) 3.00 3.2 3.2 3.2 3.4 3.4
Government Debt to GDP (% of GDP) 95.60 101 101 101 97 97
Government Budget (% of GDP) -5.10 -3.9 -3.9 -3.9 -2.6 -2.6
Business Confidence (points) 1.26 1.7 1.8 1.2 1.4 0.7
Manufacturing PMI (points) 52.00 52 54.3 54 54.2 54
Services PMI (points) 52.80 52.8 54 55 54.8 54.6
Consumer Confidence (points) -23.60 -23.6 -19 -17 -11 -6
Retail Sales MoM (%) -1.30 1 -0.4 0.7 1 0.6
Corporate Tax Rate (%) 22.70 22.7 22.7 22.7 22.7 22.7
Personal Income Tax Rate (%) 41.70 41.7 41.7 41.7 41.7 41.7

GDP Actual Q2 Q3 Q4 Q1 2023
GDP Growth Rate (%) 0.60 0 0.4 0.5 0.7 0.4
GDP Annual Growth Rate (%) 5.40 2.8 1 1.5 2 2.4
GDP (USD Billion) 13011.01 14200 14200 14200 14800 14800
GDP Constant Prices (EUR Billion) 2874.20 2863 2878 2899 2932 2969
Gross Fixed Capital Formation (EUR Billion) 615.55 619 602 624 628 639
GDP per capita (USD) 34423.50 38800 38800 38800 39600 39600
GDP per capita PPP (USD) 43681.04 47000 47000 47000 47700 47700

Labour Actual Q2 Q3 Q4 Q1 2023
Unemployment Rate (%) 6.80 6.9 6.8 6.8 6.7 6.7
Employed Persons (Million ) 162.55 159 160 160 161 161
Unemployed Persons (Thousand) 11181.00 11700 11750 11690 11650 11550
Long Term Unemployment Rate (%) 3.20 3.3 3.2 3.2 3.1 3.1
Youth Unemployment Rate (%) 13.90 14 13.9 13.9 13.8 13.8
Productivity (points) 103.98 104 105 105 105 107
Labour Costs (points) 107.90 120 111 122 111 125
Wages (EUR/Month) 1963.00 1961 2022 2020 2014 2064
Wage Growth (%) 2.70 3.2 3 2.9 2.6 2.2
Population (Million) 342.41 345 345 345 345 345
Retirement Age Men 64.61 65 65 65 65 65
Retirement Age Women 64.29 65 65 65 65 65
Labor Force Participation Rate (%) 74.50 73.6 73.7 74 74.1 74.1
Employment Change (%) 0.60 0.4 0.3 0.5 0.4 0.4

Prices Actual Q2 Q3 Q4 Q1 2023
Inflation Rate (%) 8.10 8.3 7.8 6 4.4 2.2
Inflation Rate Mom (%) 0.80 0.5 0.4 0.6 0.5 0.5
Consumer Price Index CPI (points) 116.07 117 117 117 120 120
Core Consumer Prices (points) 110.25 111 110 110 111 112
Core Inflation Rate (%) 3.80 3.9 3 2.5 2.2 1.5
GDP Deflator (points) 110.62 117 118 117 115 120
Producer Prices (points) 148.00 142 141 141 152 145
Producer Prices Change (%) 37.20 28 19 8 4.2 2.5
Food Inflation (%) 8.70 3.2 2.1 2 1.8 1.5
Producer Price Inflation MoM (%) 1.20 2.5 1.3 0.2 0.4 0.4
CPI Housing Utilities (points) 124.74 117 119 122 130 124
CPI Transportation (points) 124.46 125 126 126 127 128

Money Actual Q2 Q3 Q4 Q1 2023
Interest Rate (%) 0.00 0 0.75 1.25 1.5 1.75
Interbank Rate (%) -0.58 -0.58 0.17 0.67 0.92 0.92
Money Supply M1 (EUR Million) 11489395.00 11510000 11690000 11880000 11920000 12210000
Money Supply M2 (EUR Million) 14962268.00 15440000 15540000 15600000 15760000 16100000
Money Supply M3 (EUR Million) 15716542.00 15900000 16100000 16200000 16340000 16800000
Foreign Exchange Reserves (USD Billion) 80.52 82 81 84 85 91
Central Bank Balance Sheet (EUR Million) 8827944.00 8750000 8880000 8940000 8910000 8950000
Loans to Private Sector (EUR Million) 4918974.00 5089000 4933762 5120000 4989895 5170000
Lending Rate (%) 0.25 0.25 1 1.5 1.75 1.75
Loan Growth (%) 4.50 4.3 3.7 3.5 3.3 2.5
Deposit Interest Rate (%) -0.50 -0.5 0.25 0.75 1 1

Trade Actual Q2 Q3 Q4 Q1 2023
Balance of Trade (EUR Million) -32438.00 11700 7600 17400 17500 17000
Current Account (EUR Billion) -5.40 19 33 31 32 34
Current Account to GDP (% of GDP) 3.00 3.2 3.2 3.2 3.4 3.4
Imports (EUR Million) 256365.90 204500 209800 207600 212500 215000
Exports (EUR Million) 223927.90 216200 217400 225000 230000 232000
External Debt (EUR Million) 16025333.04 16700000 16800000 17000000 17100000 17500000
Capital Flows (EUR Billion) -17.41 21 23 19 16 22
Gold Reserves (Tonnes) 504.77 505 505 505 505 505

Government Actual Q2 Q3 Q4 Q1 2023
Government Debt to GDP (% of GDP) 95.60 101 101 101 97 97
Government Budget (% of GDP) -5.10 -3.9 -3.9 -3.9 -2.6 -2.6
Government Spending (EUR Billion) 611.79 626 618 623 624 638
Government Spending to GDP (% of GDP) 54.10 50 50 50 48 48
Government Debt (EUR Million) 11107741.00 12700000 12700000 12700000 13400000 13400000

Taxes Actual Q2 Q3 Q4 Q1 2023
Corporate Tax Rate (%) 22.70 22.7 22.7 22.7 22.7 22.7
Personal Income Tax Rate (%) 41.70 41.7 41.7 41.7 41.7 41.7
Sales Tax Rate (%) 20.70 20.7 20.7 20.7 20.7 20.7

Business Actual Q2 Q3 Q4 Q1 2023
Business Confidence (points) 1.26 1.7 1.8 1.2 1.4 0.7
Manufacturing PMI (points) 52.00 52 54.3 54 54.2 54
Services PMI (points) 52.80 52.8 54 55 54.8 54.6
Composite PMI (points) 51.90 51.9 54.6 54.9 54.4 54
Industrial Production (%) -2.00 1.8 2.5 4.1 4.6 3.2
Industrial Production Mom (%) 0.40 0.7 -0.8 0.5 0.8 0.4
Manufacturing Production (%) -0.40 1.6 2.6 4 3.8 3.4
Capacity Utilization (%) 82.60 82.5 82.5 82.6 82.8 83.6
ZEW Economic Sentiment Index -28.00 -28 19 20 16 12
Car Registrations (Thousand) 592.00 751 685 792 748 950
Services Sentiment 14.00 11 16 19 15 12
Mining Production (%) -7.00 2.5 2.4 3.4 3.2 2.6
Industrial Sentiment 6.30 4.3 4.2 3.6 4.8 5

Consumer Actual Q2 Q3 Q4 Q1 2023
Consumer Confidence (points) -23.60 -23.6 -19 -17 -11 -6
Retail Sales MoM (%) -1.30 1 -0.4 0.7 1 0.6
Retail Sales YoY (%) 3.90 5.5 4.5 3.8 2.8 2.2
Consumer Spending (EUR Billion) 1491.57 1481 1521 1524 1521 1561
Disposable Personal Income (EUR Million) 1875766.00 1929098 1908033 1903902 1913281 1949596
Personal Savings (%) 13.34 12.6 12.2 12.5 12.6 12.2
Private Sector Credit (EUR Million) 12631718.00 12596910 12633236 12500000 12969337 13088894
Households Debt To GDP (% of GDP) 60.90 63 63 63 61 61
Households Debt To Income (%) 96.79 97 97 97 95 95
Bank Lending Rate (%) 1.75 1.75 2.5 3 3.25 3.25
Economic Optimism Index 105.00 102 106 107 108 104
Consumer Credit (EUR Million) 699819.60 692821 690242 692506 711994 700556
Consumer Confidence Price Trends (points) 45.60 44 22 23 19 25

Housing Actual Q2 Q3 Q4 Q1 2023
Construction Output (%) 3.00 1.8 2.9 3.8 3.6 2.7
Housing Index (points) 139.41 133 134 132 134 136
Home Ownership Rate (%) 65.60 65.4 65.4 65.4 65.2 65.2
Construction PMI (points) 49.20 53.4 53.2 54 53.4 54.2


Trading Economics provides data for 20 million economic indicators from 196 countries including actual values, consensus figures, forecasts, historical time series and news. Euro Area Forecast - was last updated on Saturday, June 25, 2022.