Markets Actual Q2 Q3 Q4 Q1 2022
Currency 1.22 1.2 1.2 1.19 1.19 1.18
Stock Market (points) 4035.46 3912 3826 3742 3660 3496

Overview Actual Q2 Q3 Q4 Q1 2022
GDP Growth Rate (%) -0.60 1.4 3.2 1 0.6 0.5
GDP Annual Growth Rate (%) -1.80 12.6 7.5 4 4.6 2.7
Unemployment Rate (%) 8.10 9.1 9.6 9.4 9 8.5
Inflation Rate (%) 1.60 1.3 1.2 1.4 1.5 1.7
Inflation Rate Mom (%) 0.60 0.3 0.5 0.5 0.4 0.6
Interest Rate (%) 0.00 0 0 0 0 0
Balance of Trade (EUR Million) 17652.20 26500 18200 14000 22000 22000
Current Account (EUR Billion) 13.28 28 25.1 28.9 28 30
Current Account to GDP (%) 2.30 3.6 3.6 3.6 3.2 3.2
Government Debt to GDP (%) 98.00 105 105 105 104 104
Government Budget (% of GDP) -7.20 -4 -4 -4 -2 -2
Business Confidence (points) 1.13 0.5 0.3 0.4 0.5 1
Manufacturing PMI (points) 62.90 54 53.2 52 52.6 52
Services PMI (points) 50.50 53.6 52.5 51 54 55
Consumer Confidence (points) -8.10 -16 -11 -12 -7 -8
Retail Sales MoM (%) 2.70 0.9 -0.6 0.7 1.2 0.6
Corporate Tax Rate (%) 22.70 22.7 22.7 23.3 22.7 22.7
Personal Income Tax Rate (%) 41.70 41.7 41.7 41.5 41.7 41.7

GDP Actual Q2 Q3 Q4 Q1 2022
GDP Growth Rate (%) -0.60 1.4 3.2 1 0.6 0.5
GDP Annual Growth Rate (%) -1.80 12.6 7.5 4 4.6 2.7
GDP (USD Billion) 13335.84 12700 12700 12700 13400 13400
GDP Constant Prices (EUR Billion) 2689.09 2724 2924 2809 2826 2885
Gross Fixed Capital Formation (EUR Billion) 581.20 568 615 604 608 621
GDP per capita (USD) 41387.60 39200 39200 39200 40100 40100
GDP per capita PPP (USD) 47037.10 46200 46200 46200 47000 47000

Labour Actual Q2 Q3 Q4 Q1 2022
Unemployment Rate (%) 8.10 9.1 9.6 9.4 9 8.5
Unemployed Persons (Thousand) 13166.00 14500 14700 14200 13700 13200
Employed Persons (Million ) 157.95 151 152 154 156 159
Long Term Unemployment Rate (%) 2.80 3.8 4.4 4.2 4 3.7
Youth Unemployment Rate (%) 17.20 17.4 18.1 12.9 18.4 17.9
Productivity (points) 104.30 102 103 103 103 105
Labour Costs (points) 116.50 106 118 125 118 120
Wages (EUR/Month) 1876.00 1925 1772 1942 1904 1937
Wage Growth (%) 3.50 1.8 1.2 1.5 1.6 1.7
Population (Million) 342.41 343 343 343 345 345
Employment Change (%) 0.40 0.6 0.5 0.7 0.6 0.5
Labor Force Participation Rate (%) 56.80 56.2 56.5 56.7 56.9 57.3
Retirement Age Men 64.61 65 65 65 65 65
Retirement Age Women 64.29 64.75 64.75 64.75 65 65

Prices Actual Q2 Q3 Q4 Q1 2022
Inflation Rate (%) 1.60 1.3 1.2 1.4 1.5 1.7
Inflation Rate Mom (%) 0.60 0.3 0.5 0.5 0.4 0.6
Consumer Price Index CPI (points) 106.53 107 106 107 108 108
Core Consumer Prices (points) 105.47 107 106 106 107 108
Core Inflation Rate (%) 0.80 1.2 1.4 1.4 1.5 1.6
GDP Deflator (points) 107.09 109 108 109 109 110
Producer Prices (points) 106.80 107 105 105 109 107
Producer Prices Change (%) 4.30 6.5 2.8 2 1.9 1.7
Food Inflation (%) 0.70 1.1 1.4 1.8 1.6 2
CPI Housing Utilities (points) 106.61 105 105 106 108 108
CPI Transportation (points) 108.33 105 104 105 110 107

Money Actual Q2 Q3 Q4 Q1 2022
Interest Rate (%) 0.00 0 0 0 0 0
Money Supply M1 (EUR Million) 10536949.00 11510000 11060000 11280000 11410000 11880000
Interbank Rate (%) -0.54 -0.54 -0.54 -0.54 -0.54 -0.54
Money Supply M2 (EUR Million) 14007950.00 14600000 14300000 15200000 15290000 15600000
Money Supply M3 (EUR Million) 14747728.00 15200000 14900000 15600000 15800000 16200000
Foreign Exchange Reserves (USD Billion) 69.28 77 88 91 88 92
Central Bank Balance Sheet (EUR Million) 7567945.00 7420000 7820000 7750000 7690000 7650000
Loans to Private Sector (EUR Million) 4900749.00 4980000 5070000 5090000 5060000 5120000
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 (%) 3.30 2.2 1.9 2 1.7 1.5

Trade Actual Q2 Q3 Q4 Q1 2022
Balance of Trade (EUR Million) 17652.20 26500 18200 14000 22000 22000
Current Account (EUR Billion) 13.28 28 25.1 28.9 28 30
Current Account to GDP (%) 2.30 3.6 3.6 3.6 3.2 3.2
Imports (EUR Million) 160994.30 144000 164200 164000 167200 169000
Exports (EUR Million) 178646.50 162200 187900 186000 195000 191000
External Debt (EUR Million) 14846540.52 16200000 16400000 16600000 16500000 17000000
Capital Flows (EUR Billion) 43.57 18 15 17 14 19
Gold Reserves (Tonnes) 504.77 505 505 505 505 505

Government Actual Q2 Q3 Q4 Q1 2022
Government Debt to GDP (%) 98.00 105 105 105 104 104
Government Budget (% of GDP) -7.20 -4 -4 -4 -2 -2
Government Spending (EUR Billion) 599.06 609 607 605 602 600
Government Spending to GDP (%) 47.10 50 50 50 47 47
Government Debt (EUR Million) 11107741.00 12200000 12200000 12200000 12700000 12700000

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

Business Actual Q2 Q3 Q4 Q1 2022
Business Confidence (points) 1.13 0.5 0.3 0.4 0.5 1
Manufacturing PMI (points) 62.90 54 53.2 52 52.6 52
Services PMI (points) 50.50 53.6 52.5 51 54 55
Composite PMI (points) 53.80 53.7 52.9 51 53.4 54.9
Industrial Production (%) -1.60 15 6.5 5 4.2 3.6
Industrial Production Mom (%) -1.00 0.9 -1.2 0.7 0.9 0.5
Manufacturing Production (%) -1.80 18 8.2 5.6 3.4 3.2
Capacity Utilization (%) 82.50 80 82 80 81 82
Zew Economic Sentiment Index 66.30 38 25 10 5 15
Car Registrations (Thousand) 701.39 670 870 980 380 1050
Mining Production (%) -8.40 14 5.1 4.8 4 3.4
Industrial Sentiment 10.70 7.2 4.5 2 1 3.6
Services Sentiment 2.10 7.5 4 9 15 25

Consumer Actual Q2 Q3 Q4 Q1 2022
Consumer Confidence (points) -8.10 -16 -11 -12 -7 -8
Retail Sales MoM (%) 2.70 0.9 -0.6 0.7 1.2 0.6
Retail Sales YoY (%) 12.00 10 3.8 4.5 3.6 2.7
Consumer Spending (EUR Billion) 1415.09 1443 1570 1472 1480 1511
Disposable Personal Income (EUR Million) 1826293.00 1996336 1982607 1918057 1929123 1969845
Personal Savings (%) 19.75 14 13.6 13.8 12.9 12.5
Private Sector Credit (EUR Million) 12062206.00 12040961 12093865 12165796 12267264 12348283
Bank Lending Rate (%) 1.82 1.82 1.82 1.82 1.82 1.82
Economic Optimism Index 110.30 112 109 105 104 107
Consumer Credit (EUR Million) 693468.79 792846 756176 729972 725368 749681
Households Debt To GDP (% of GDP) 61.50 65 65 65 63 63
Households Debt To Income (%) 96.27 101 101 101 97 97
Consumer Confidence Price Trends (points) 19.60 18 19 20 19 23

Housing Actual Q2 Q3 Q4 Q1 2022
Construction Output (%) -5.80 16.2 5.9 5.1 3.6 3.8
Housing Index (points) 127.23 136 134 130 128 125
Construction PMI (points) 50.10 54.2 53.4 52 52.9 54
Home Ownership Rate (%) 65.80 65 65 65 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.