Markets Actual Q4 Q1 Q2 Q3 2023
Currency 1.05 1.04 1.02 1 0.99 0.96
Stock Market (points) 3953.65 3824 3676 3534 3397 3139

Overview Actual Q4 Q1 Q2 Q3 2023
GDP Growth Rate (%) 0.20 -0.4 0.5 0.7 0.4 0.4
GDP Annual Growth Rate (%) 2.10 0.3 -2.3 -1.8 -0.5 -0.6
Unemployment Rate (%) 6.50 7.1 7.2 7.3 7.5 7.5
Inflation Rate (%) 10.00 11.4 9.2 5.4 3.2 2.9
Inflation Rate MoM (%) -0.10 0.6 0.9 0.7 0.5 0.5
Interest Rate (%) 2.00 2.5 3 3.5 3.5 3.5
Balance of Trade (EUR Million) -34374.20 -58900 -53550 -65310 -47000 15150
Current Account (EUR Billion) 3.81 -9 3.2 7 25 34
Current Account to GDP (% of GDP) 2.50 2.7 2.7 3.1 3.1 3.1
Government Debt to GDP (% of GDP) 95.60 95 93.1 93.1 93.1 93.1
Government Budget (% of GDP) -5.10 -3.9 -2.6 -2.6 -2.6 -2.6
Business Confidence (points) 0.54 -0.3 0.4 0.7 1.2 0.8
Manufacturing PMI (points) 47.10 47.6 51.8 52.2 52.7 53
Services PMI (points) 48.50 49.5 51.8 52.5 52 52.3
Consumer Confidence (points) -23.90 -24.6 -19 -6 -8 -6
Retail Sales MoM (%) -1.80 0.3 0.5 0.6 1 0.6
Corporate Tax Rate (%) 23.00 23 23 23 23 23
Personal Income Tax Rate (%) 42.90 42.9 42.9 42.9 42.9 42.9

GDP Actual Q4 Q1 Q2 Q3 2023
GDP Growth Rate (%) 0.20 -0.4 0.5 0.7 0.4 0.4
GDP Annual Growth Rate (%) 2.10 0.3 -2.3 -1.8 -0.5 -0.6
GDP (USD Billion) 14493.21 14200 14800 14800 14800 14800
GDP Constant Prices (EUR Billion) 2909.59 2869 2814 2850 2895 2852
Gross Fixed Capital Formation (EUR Billion) 622.52 624 603 611 619 620
GDP per Capita (USD) 36352.04 38800 39600 39600 39600 39600
GDP per Capita PPP (USD) 46301.02 47000 47700 47700 47700 47700
Full Year GDP Growth (%) 5.30 3 0.5 0.5 0.5 0.5

Labour Actual Q4 Q1 Q2 Q3 2023
Unemployment Rate (%) 6.50 7.1 7.2 7.3 7.5 7.5
Employed Persons (Million ) 164.48 160 161 161 161 161
Unemployed Persons (Thousand) 10872.00 11152 11650 12130 12334 12993
Long Term Unemployment Rate (%) 2.70 3 3.3 3.4 3.6 3.4
Youth Unemployment Rate (%) 15.00 15.6 15.7 15.8 16 16
Productivity (points) 103.92 104 103 103 103 103
Labour Costs (points) 119.20 114 125 113 124 129
Wages (EUR/Month) 2031.00 2063 2084 2108 2112 2137
Wage Growth (%) 4.10 4.7 4.2 3.8 4 3.6
Population (Million) 342.56 343 343 343 343 343
Retirement Age Men (Years) 64.99 65 65 65 65 65
Retirement Age Women (Years) 64.74 65 65 65 65 65
Labor Force Participation Rate (%) 74.70 74 74.1 74.1 74.1 74.1
Employment Change (%) 0.20 0.5 0.4 0.4 0.4 0.4

Prices Actual Q4 Q1 Q2 Q3 2023
Inflation Rate (%) 10.00 11.4 9.2 5.4 3.2 2.9
Inflation Rate MoM (%) -0.10 0.6 0.9 0.7 0.5 0.5
Consumer Price Index CPI (points) 120.92 123 125 123 123 127
Core Consumer Prices (points) 112.60 113 113 115 116 116
Core Inflation Rate (%) 5.00 4.5 4.3 4 3.5 3.2
GDP Deflator (points) 113.44 123 123 120 117 127
Producer Prices (points) 162.80 188 198 193 199 211
Producer Prices Change (%) 30.80 44 35 28 19 12
Food Inflation (%) 15.50 12 9.8 6 6 4.5
Producer Price Inflation MoM (%) -2.90 1 0.6 0.6 0.7 0.8
CPI Housing Utilities (points) 138.53 128 136 133 137 132
CPI Transportation (points) 125.12 126 127 128 129 129

Money Actual Q4 Q1 Q2 Q3 2023
Interest Rate (%) 2.00 2.5 3 3.5 3.5 3.5
Interbank Rate (%) -0.58 -0.08 0.42 0.92 0.92 0.92
Money Supply M1 (EUR Million) 11564745.00 12024310 12237803 12451297 12664790 12878284
Money Supply M2 (EUR Million) 15375070.00 15654624 15906105 16157586 16409067 16660548
Money Supply M3 (EUR Million) 16140856.00 16379170 16628024 16886512 17131171 17380345
Foreign Exchange Reserves (USD Billion) 83.71 84 85 85 85 91
Central Bank Balance Sheet (EUR Million) 8769062.00 8940000 8910000 8910000 8910000 8950000
Loans to Private Sector (EUR Million) 5153487.00 5120000 4777699 4905723 5110926 5170000
Lending Rate (%) 2.25 2.75 3.25 3.75 3.75 3.75
Loan Growth (%) 4.20 4.2 4 3.7 3.5 3.3
Deposit Interest Rate (%) 1.50 -0.3 2 2.5 3 0

Trade Actual Q4 Q1 Q2 Q3 2023
Balance of Trade (EUR Million) -34374.20 -58900 -53550 -65310 -47000 15150
Current Account (EUR Billion) 3.81 -9 3.2 7 25 34
Current Account to GDP (% of GDP) 2.50 2.7 2.7 3.1 3.1 3.1
Imports (EUR Million) 294015.70 279200 285000 293500 272000 209650
Exports (EUR Million) 259641.40 220300 231450 228190 225000 224800
External Debt (EUR Million) 16467275.75 17000000 17100000 17100000 17100000 17500000
Capital Flows (EUR Billion) -19.21 19 12 12 14 15
Gold Reserves (Tonnes) 504.77 505 505 505 505 505

Government Actual Q4 Q1 Q2 Q3 2023
Government Debt to GDP (% of GDP) 95.60 95 93.1 93.1 93.1 93.1
Government Budget (% of GDP) -5.10 -3.9 -2.6 -2.6 -2.6 -2.6
Government Spending (EUR Billion) 621.51 600 603 610 618 614
Government Spending to GDP (% of GDP) 52.40 50 48 48 48 48
Government Debt (EUR Million) 11720340.20 12700000 13400000 13400000 13400000 13400000

Taxes Actual Q4 Q1 Q2 Q3 2023
Corporate Tax Rate (%) 23.00 23 23 23 23 23
Personal Income Tax Rate (%) 42.90 42.9 42.9 42.9 42.9 42.9
Sales Tax Rate (%) 20.80 20.8 20.8 20.8 20.8 20.8

Business Actual Q4 Q1 Q2 Q3 2023
Business Confidence (points) 0.54 -0.3 0.4 0.7 1.2 0.8
Manufacturing PMI (points) 47.10 47.6 51.8 52.2 52.7 53
Services PMI (points) 48.50 49.5 51.8 52.5 52 52.3
Composite PMI (points) 47.80 48.1 51.3 51.9 52.3 53
Industrial Production (%) 4.90 2.5 4.1 4.6 3.8 3.2
Industrial Production Mom (%) 0.90 0.3 0.8 0.5 0.3 0.4
Manufacturing Production (%) 5.90 -4.3 -2.1 0.5 1.1 2.4
Capacity Utilization (%) 81.40 82.6 82.1 81.8 81.5 81.2
ZEW Economic Sentiment Index (points) -38.70 -48.5 -61 -29 -11 -13
Car Registrations (Thousand) 743.52 662 678 648 630 620
Services Sentiment (points) 2.30 5 9 11 13 12
Mining Production (%) -2.80 -3.1 -2.6 -2.9 -0.8 2.6
Industrial Sentiment (points) -2.00 -3.6 2.8 3.6 4.8 5

Consumer Actual Q4 Q1 Q2 Q3 2023
Consumer Confidence (points) -23.90 -24.6 -19 -6 -8 -6
Retail Sales MoM (%) -1.80 0.3 0.5 0.6 1 0.6
Retail Sales YoY (%) -2.70 -1.8 -2.1 1.2 1.8 1.5
Consumer Spending (EUR Billion) 1522.57 1509 1469 1495 1515 1500
Disposable Personal Income (EUR Million) 1995500.00 1881393 1901665 1959581 1985523 1870105
Personal Savings (%) 13.66 12.5 12.2 11.6 11 10.2
Private Sector Credit (EUR Million) 13035026.00 12500000 13063769 13261581 13503669 13274155
Households Debt to GDP (% of GDP) 59.40 63 61 61 61 61
Households Debt to Income (%) 96.79 97 95 95 95 95
Bank Lending Rate (%) 3.01 3.51 4.01 4.51 4.51 4.51
Economic Optimism Index (points) 93.70 82 90 92 94 96
Consumer Credit (EUR Million) 717443.00 692506 682972 698933 710915 700556
Consumer Confidence Price Trends (points) 30.10 34 22 23 19 25

Housing Actual Q4 Q1 Q2 Q3 2023
Construction Output (%) 1.00 0.8 1.6 1.1 1.5 1.7
Housing Index (points) 145.06 132 134 134 134 136
Home Ownership Rate (%) 65.80 65.4 65.2 65.2 65.2 65.2
Construction PMI (points) 44.90 46.5 49 51 53.4 54.2