Markets Actual Q1/25 Q2/25 Q3/25 Q4/25
Stock Market (points) 5005.70 4788 4683 4580 4479
Currency 1.03 1.03 1.02 1.01 1
Government Bond 10Y (%) 3.10 2.89 2.83 2.78 2.73

Overview Actual Q1/25 Q2/25 Q3/25 Q4/25
GDP Growth Rate (%) 0.40 0.4 0.3 0.3 0.3
GDP Annual Growth Rate (%) 0.90 1.3 1.4 1.3 1.5
Unemployment Rate (%) 6.30 6.6 6.6 6.7 6.7
Inflation Rate (%) 2.40 2.2 2 2.1 2.2
Inflation Rate MoM (%) 0.40 0.1 0.2 0.3 0.2
Interest Rate (%) 3.15 2.65 2.15 2.15 1.9
Balance of Trade (EUR Million) 6811.40 31000 6000 13000 11000
Current Account (EUR Billion) 32.00 27 22 26 33
Manufacturing PMI (points) 45.10 46.3 47.5 49 51
Services PMI (points) 51.60 51.2 50.5 51.6 52.9
Business Confidence (points) -0.91 -1.2 -0.8 -0.6 -0.1
Consumer Confidence (points) -14.50 -6 -5 -4 -2
Retail Sales MoM (%) 0.10 0.1 0.2 0.1 0.2
Current Account to GDP (% of GDP) 1.70 2.7
Government Debt to GDP (% of GDP) 87.40 89
Government Budget (% of GDP) -3.60 -2.8

GDP Actual Q1/25 Q2/25 Q3/25 Q4/25
GDP Growth Rate (%) 0.40 0.4 0.3 0.3 0.3
GDP Annual Growth Rate (%) 0.90 1.3 1.4 1.3 1.5
GDP Constant Prices (EUR Million) 3020852.80 3042259 3050636 3060124 3066166
Gross Fixed Capital Formation (EUR Billion) 623661.50 634367 619749 631769 633016
GDP (USD Billion) 15544.86 15716
GDP per Capita (USD) 37399.93 37811
GDP per Capita PPP (USD) 55834.68 56449
Full Year GDP Growth (%) 0.40 1.1

Labour Actual Q1/25 Q2/25 Q3/25 Q4/25
Unemployment Rate (%) 6.30 6.6 6.6 6.7 6.7
Employed Persons (Million ) 153.31 155 156 157 156
Unemployed Persons (Thousand) 10819.00 10550 10800 11000 11850
Long Term Unemployment Rate (%) 1.90 2.2 2.2 2.3 2.3
Youth Unemployment Rate (%) 15.00 15.3 15.3 15.4 15.4
Productivity (points) 103.86 104 104 104 104
Labour Costs (points) 112.10 111 122 114 114
Wages (EUR/Month) 2179.00 2244 2220 2216 2207
Wage Growth (%) 4.40 3 1.9 1.7 1.3
Negotiated Wage Growth (%) 5.42 2.9 2.9 2.6 2.5
Employment Change (%) 0.20 0.2 0.3 0.2 0.2
Population (Million) 350.08 346

Prices Actual Q1/25 Q2/25 Q3/25 Q4/25
Inflation Rate (%) 2.40 2.2 2 2.1 2.2
Inflation Rate MoM (%) 0.40 0.1 0.2 0.3 0.2
Consumer Price Index CPI (points) 127.08 128 129 129 130
Core Inflation Rate (%) 2.70 2.5 2.3 2.1 2
Core Consumer Prices (points) 120.32 121 123 123 123
GDP Deflator (points) 125.80 127 128 128 129
Producer Prices (points) 126.70 128 127 127 129
Producer Prices Change (%) -1.20 3.5 3.3 2 1.5
Food Inflation (%) 2.00 3 3.2 2.6 2
Energy Prices (points) 145.92 152 150 150 150
Selling Price Expectations (points) 7.60 2.7 2.5 2 2.1
Producer Price Inflation MoM (%) 1.60 0.1 0.2 0.3 0.1
Inflation Expectations (%) 2.60 1.9 1.5 1.7 1.8
Energy Inflation (%) 0.10 1.5 1.9 4 2.5
CPI Transportation (points) 125.78 126 126 127 127
CPI Housing Utilities (points) 133.09 134 134 135 136

Money Actual Q1/25 Q2/25 Q3/25 Q4/25
Interest Rate (%) 3.15 2.65 2.15 2.15 1.9
Money Supply M2 (EUR Million) 15540007.00 16070480 15883675 15683675 15410100
Loans to Private Sector (EUR Million) 5162380.00 5199500 5217767 5226322 5239816
Loan Growth (%) 0.90 0.8 0.9 1.1 1.4
Lending Rate (%) 3.40 2.9 2.4 2.4 2.15
Deposit Interest Rate (%) 3.00 2.5 2 2 1.75

Trade Actual Q1/25 Q2/25 Q3/25 Q4/25
Balance of Trade (EUR Million) 6811.40 31000 6000 13000 11000
Current Account (EUR Billion) 32.00 27 22 26 33
Imports (EUR Million) 247169.20 215000 220000 222000 227000
Exports (EUR Million) 253980.60 246000 226000 235000 238000
Current Account to GDP (% of GDP) 1.70 2.7

Business Actual Q1/25 Q2/25 Q3/25 Q4/25
Manufacturing PMI (points) 45.10 46.3 47.5 49 51
Services PMI (points) 51.60 51.2 50.5 51.6 52.9
Business Confidence (points) -0.91 -1.2 -0.8 -0.6 -0.1
Composite PMI (points) 49.60 51.5 52.3 52 51.9
Industrial Production Mom (%) 0.00 0.2 0.8 1.2 0.3
Industrial Production (%) -1.20 1 0.9 1 1.2
Manufacturing Production (%) -1.10 3.1 2.8 2.5 2
Capacity Utilization (%) 76.90 77.7 77.9 78.1 78.4
ZEW Economic Sentiment Index (points) 17.00 17 15 10 7
Car Registrations (Units) 738410.00 762600 780000 792500 750640
Industrial Sentiment (points) -14.10 -2 2 4 6
Services Sentiment (points) 5.90 10 11 12 11

Consumer Actual Q1/25 Q2/25 Q3/25 Q4/25
Consumer Confidence (points) -14.50 -6 -5 -4 -2
Retail Sales MoM (%) 0.10 0.1 0.2 0.1 0.2
Retail Sales YoY (%) 1.20 1.4 1 1.3 1.1
Consumer Spending (EUR Billion) 1598.98 1609 1610 1620 1623
Disposable Personal Income (EUR Million) 2283271.00 2312954 2315237 2312954 2317520
Personal Savings (%) 15.63 14.9 14.7 14.5 14.6
Private Sector Credit (EUR Million) 13415271.00 13383108 13459779 13524958 13603085
Bank Lending Rate (%) 4.83 4.33 3.83 3.83 3.58
Economic Optimism Index (points) 93.70 98.2 98.6 99 99.5
Consumer Credit (EUR Million) 775468.00 778167 781329 786709 787100
Consumer Confidence Price Trends (points) 21.00 9 7.5 4 3

Housing Actual Q1/25 Q2/25 Q3/25 Q4/25
Construction Output (%) 0.20 -1.8 1.5 1.7 2.1
Housing Index (points) 144.81 145 148 148 148
Construction PMI (points) 42.90 49 50.5 51.7 52.5
Home Ownership Rate (%) 65.30 65.8

Government Actual Q1/25 Q2/25 Q3/25 Q4/25
Government Debt to GDP (% of GDP) 87.40 89
Government Budget (% of GDP) -3.60 -2.8
Government Spending to GDP (% of GDP) 49.50 47.8