EURO AREA
Unemployment rate
% seasonally adjusted
76
Consum er prices harm onised (MUICP)
1996 = 100
Monetary aggregate (M3)
1995 = 100 seasonally adjusted
Rate on 3-month interbank deposits (EURIBOR)
% per annum
Yield on 10-year governm ent bonds
% per annum
Share prices: Dow Jones EURO STOXX
1995 = 100
Exchange rates
USD
Yen
Pounds Sterling
December 2003
8.8
114.5
160.7
2.15
4.36
184
0.813
0.0074
1.419
December 2003
Fixed euro exchange rates at 1/1/99:
120
Exchange rates trends
USD against national currency, 1995 = 100, daily averages
110 100
90
Austria Belgium Finland France Germany Greece2 Ireland Italy Luxembourg Netherlands Portugal Spain
13.7603 40.3399 5.94573 6.55957 1.95583 340.75 0.787564 1936.27 40.3399 2.20371 200.482 166.386
United Kingdom, GBP Euro area1, EUR Japan, JPY
80 70 60
Notes: 1. Prior to 1999, data for the euro area correspond to the ECU 2. Fixed exchange rate at 1/1/2001 StatLink: http://dx.doi.org/10.1787/267554887767 Source: Main Economic Indicators, OECD, Paris, June 2004.
76
ZONE EURO
Taux de chômage
% corrigé des variations saisonnières
Prix à la consommation harmonisés (IPCUM)
1996 = 100
Agrégat monétaire (M3)
1995 = 100 corrigé des variations saisonnières
Taux sur 3 Prix des mois des Obligations actions : dépôts sur 10 ans Dow Jones interbangaranties EURO caires par l'État STOXX % par an (EURIBOR)
% par an
1995 = 100
Taux de change
USD
Yen
Livre Sterling
décembre 2003
8.8
114.5
160.7
2.15
4.36
184
0.813
0.007405
1.419
décembre 2003
Taux de change fixes de l'euro au 1/1/99 : Allemagne Autriche Belgique Espagne Finlande France Grèce2 1.95583 13.7603 40.3399 166.386 5.94573 6.55957 340.75
120
110
Tendance des taux de change
USD par unité monétaire nationale, 1995 = 100 moyennes journalières
100 90
80
Zone euro 1, EUR Japon, JPY
Royaume-Uni, GBP
70
60
Irlande Italie Luxembourg Pays-Bas Portugal
0.787564 1936.27 40.3399 2.20371 200.482
60
Notes : 1. Avant 1999, la courbe pour la zone euro correspond à l'ECU 2. Taux de change fixes au 1/1/2001 StatLink: http://dx.doi.org/10.1787/267554887767 Source : Principaux indicateurs économiques, OCDE, Paris, juin 2004.
Code EMU.CCUSMA02.ST.1 JPN.CCUSMA02.ST.1 GBR.CCUSMA02.ST.1 Monthly EMU.CCUSMA02.ST.1 JPN.CCUSMA02.ST.1 GBR.CCUSMA02.ST.1 Recipicoal Series
Title 1995 EMU ECU-euro/USD exchange rate monthly average 0.7650 JPN Yen/USD exchange rate monthly average 94.0700 GBR Pound sterling/USD exchange rate mth. avg. 0.6337 1995M1 EMU ECU-euro/USD exchange rate monthly average 0.8034 JPN Yen/USD exchange rate monthly average 99.7900 GBR Pound sterling/USD exchange rate mth. avg. 0.6353
USD/EMU USD/JPN USD/GBR 1995=100 Weights EMU JPN GBR EMU weight JPN weight GBR weight
1.2447 0.0100 1.5741
SERIES DATA USED IN THE GRAPH
95.2203 94.2680 99.7482 1.3072 0.0106 1.5780
1996 1997 1998 1999 2000 2001 2002 2003 0.7878 0.8824 0.8941 0.9385 1.0851 1.1166 1.0611 0.8852 108.8200 121.0000 130.8900 113.8900 107.8300 121.4800 125.2500 115.9400 0.6408 0.6105 0.6036 0.6181 0.6606 0.6943 0.6666 0.6100 1995M2 1995M3 1995M4 1995M5 1995M6 1995M7 1995M8 1995M9 0.7946 0.7596 0.7456 0.7560 0.7522 0.7434 0.7703 0.7760 98.2300 90.8600 83.5800 85.2700 84.5100 87.2500 94.4900 100.4700 0.6359 0.6246 0.6223 0.6305 0.6271 0.6268 0.6382 0.6412
1.2585 0.0102 1.5726
1.3165 0.0110 1.6010
1.3412 0.0120 1.6069
1.3228 0.0117 1.5860
1.3294 0.0118 1.5946
1.3452 0.0115 1.5954
1.2982 0.0106 1.5669
1.2887 0.0100 1.5596
1995 96.2749 100.7109 102.6019 101.1905 101.7017 102.9056 95.7650 103.5329 112.5508 110.3202 111.3123 107.8166 99.6540 101.4569 101.8319 100.5075 101.0525 101.1008
99.3120 99.5555 99.2949
98.5825 93.6299 98.8303
1995M10 1995M11 1995M12 1996M1 1996M2 1996M3 1996M4 1996M5 0.7564 0.7553 0.7666 0.7742 0.7761 0.7804 0.7907 0.8023 100.7000 101.8700 101.7800 105.8200 105.6800 105.8700 107.5100 106.5700 0.6334 0.6399 0.6492 0.6537 0.6506 0.6547 0.6599 0.6599
1.3221 0.0099 1.5788
1.3240 0.0098 1.5627
1.3045 0.0098 1.5404
1.2917 0.0095 1.5298
1.2885 0.0095 1.5370
1.2814 0.0094 1.5274
1.2647 0.0093 1.5154
1.2464 0.0094 1.5154
101.1370 101.2843 93.4161 92.3432 100.0474 99.0311
99.7913 92.4248 97.6124
98.8117 88.8962 96.9405
98.5698 89.0140 97.4024
98.0267 88.8543 96.7924
96.7497 87.4988 96.0297
95.3509 88.2706 96.0297
1996M6 1996M7 1996M8 1996M9 1996M10 1996M11 1996M12 1997M1 0.7977 0.7874 0.7793 0.7887 0.7943 0.7827 0.7997 0.8222 108.8800 109.3600 107.8100 109.7500 112.4100 112.3800 113.7600 117.9900 0.6484 0.6435 0.6452 0.6412 0.6305 0.6014 0.6008 0.6028
1.2536 0.0092 1.5423 1996 95.9007 86.3979 97.7329
1.2700 0.0091 1.5540
1.2832 0.0093 1.5499
1.2679 0.0091 1.5596
1.2590 0.0089 1.5860
1.2776 0.0089 1.6628
1.2505 0.0088 1.6644
1.2162 0.0085 1.6589
97.1552 86.0187 98.4771
98.1650 87.2554 98.2176
96.9951 96.3112 97.7386 95.6609 93.0431 85.7130 83.6847 83.7071 82.6916 79.7271 98.8303 100.5075 105.3708 105.4760 105.1261
1997M2 1997M3 1997M4 1997M5 1997M6 1997M7 1997M8 1997M9 0.8574 0.8698 0.8736 0.8707 0.8797 0.9054 0.9325 0.9095 123.0600 122.6900 125.5600 118.6600 114.4400 115.2100 117.9500 120.7100 0.6151 0.6212 0.6135 0.6123 0.6070 0.5988 0.6236 0.6245
1.1663 0.0081 1.6258
1.1497 0.0082 1.6098
1.1447 0.0080 1.6300
1.1485 0.0084 1.6332
1.1368 0.0087 1.6474
1.1045 0.0087 1.6700
1.0724 0.0085 1.6036
1.0995 0.0083 1.6013
1997 89.2232 87.9513 87.5687 87.8603 86.9615 84.4930 82.0375 84.1121 76.4424 76.6729 74.9204 79.2769 82.2003 81.6509 79.7541 77.9306 103.0239 102.0122 103.2926 103.4950 104.3987 105.8283 101.6196 101.4732
1997M10 1997M11 1997M12 1998M1 1998M2 1998M3 1998M4 1998M5 0.8904 0.8778 0.8998 0.9192 0.9188 0.9223 0.9165 0.9018 121.1500 125.1100 129.4200 129.4000 125.9600 128.7500 131.8800 134.9100 0.6124 0.5920 0.6028 0.6107 0.6095 0.6017 0.5978 0.6116
1.1231 0.0083 1.6329
1.1392 0.0080 1.6892
1.1114 0.0077 1.6589
1.0879 0.0077 1.6375
1.0884 0.0079 1.6407
1.0842 0.0078 1.6620
1.0911 0.0076 1.6728
1.1089 0.0074 1.6351
85.9164 87.1497 85.0189 83.2245 83.2608 82.9448 83.4697 84.8303 77.6475 75.1898 72.6858 72.6971 74.6824 73.0641 71.3300 69.7280 103.4781 107.0439 105.1261 103.7662 103.9705 105.3183 106.0054 103.6135
1998M6 1998M7 1998M8 1998M9 1998M10 1998M11 1998M12 1999M1 0.9118 0.9148 0.9078 0.8668 0.8383 0.8584 0.8530 0.8615 140.4700 140.6000 144.7900 134.4700 121.3600 120.5400 117.6000 113.1600 0.6058 0.6084 0.6123 0.5947 0.5900 0.6017 0.5986 0.6057
1.0967 0.0071 1.6507
1.0931 0.0071 1.6437
1.1016 0.0069 1.6332
1.1537 0.0074 1.6815
1.1929 0.0082 1.6949
1.1650 0.0083 1.6620
1.1723 0.0085 1.6706
1.1608 0.0088 1.6510
1998 83.9000 83.6248 84.2697 88.2557 91.2561 89.1193 89.6835 88.7986 66.9680 66.9061 64.9700 69.9561 77.5132 78.0405 79.9915 83.1301 104.6055 104.1584 103.4950 106.5579 107.4068 105.3183 105.8637 104.6228
1999M2 1999M3 1999M4 1999M5 1999M6 1999M7 1999M8 1999M9 0.8924 0.9187 0.9343 0.9409 0.9636 0.9662 0.9436 0.9510 116.6800 119.7400 119.7400 122.1300 120.8400 119.8900 113.4200 107.4900 0.6144 0.6166 0.6209 0.6193 0.6270 0.6348 0.6226 0.6155
1.1206 0.0086 1.6276
1.0885 0.0084 1.6218
1.0703 0.0084 1.6106
1.0628 0.0082 1.6147
1.0378 0.0083 1.5949
1.0350 0.0083 1.5753
1.0598 0.0088 1.6062
1.0515 0.0093 1.6247
1999 85.7239 83.2698 81.8795 81.3051 79.3898 80.6222 78.5619 78.5619 77.0245 77.8467 103.1413 102.7733 102.0615 102.3252 101.0686
79.1762 81.0725 80.4416 78.4636 82.9395 87.5151 99.8267 101.7828 102.9569
1999M10 1999M11 1999M12 2000M1 2000M2 2000M3 2000M4 2000M5 0.9340 0.9683 0.9879 0.9866 1.0158 1.0363 1.0575 1.1019 106.0100 104.9300 102.6400 105.2700 109.3600 106.7600 105.5800 108.1800 0.6033 0.6172 0.6198 0.6096 0.6248 0.6324 0.6322 0.6626
1.0707 0.0094 1.6576
1.0327 0.0095 1.6202
1.0122 0.0097 1.6134
1.0136 0.0095 1.6404
0.9844 0.0091 1.6005
0.9650 0.0094 1.5813
0.9456 0.0095 1.5818
0.9075 0.0092 1.5092
81.9058 79.0044 77.4370 77.5390 75.3101 73.8203 72.3404 88.7369 89.6502 91.6504 89.3607 86.0187 88.1135 89.0983 105.0390 102.6734 102.2427 103.9534 101.4245 100.2056 100.2373
69.4255 86.9569 95.6384
2000M6 2000M7 2000M8 2000M9 2000M10 2000M11 2000M12 2001M1 1.0530 1.0654 1.1059 1.1484 1.1716 1.1678 1.1108 1.0651 106.3100 107.9800 108.2400 106.8600 108.4100 108.8700 112.1900 116.8400 0.6619 0.6628 0.6717 0.6976 0.6890 0.7003 0.6820 0.6769
0.9497 0.0094 1.5108 2000 72.6496 88.4865 95.7395
0.9386 0.0093 1.5088
0.9042 0.0092 1.4888
0.8708 0.0094 1.4335
0.8535 0.0092 1.4514
0.8563 0.0092 1.4280
0.9003 0.0089 1.4663
0.9389 0.0086 1.4773
71.8040 87.1180 95.6095
69.1744 86.9087 94.3427
66.6144 88.0311 90.8400
65.2953 86.7724 91.9739
65.5078 86.4058 90.4898
68.8693 83.8488 92.9179
71.8242 80.5118 93.6180
2001M2 2001M3 2001M4 2001M5 2001M6 2001M7 2001M8 2001M9 1.0854 1.1010 1.1189 1.1435 1.1709 1.1609 1.1086 1.0958 116.1700 121.0000 123.7800 121.9400 122.2000 124.6700 121.6200 118.8700 0.6884 0.6925 0.6965 0.7008 0.7129 0.7065 0.6954 0.6826
0.9213 0.0086 1.4526
0.9083 0.0083 1.4440
0.8937 0.0081 1.4358
0.8745 0.0082 1.4269
0.8540 0.0082 1.4027
0.8614 0.0080 1.4154
0.9020 0.0082 1.4380
0.9126 0.0084 1.4650
70.4809 80.9762 92.0540
69.4823 77.7438 91.5090
68.3707 75.9977 90.9835
2001 66.8999 65.3344 77.1445 76.9804 90.4252 88.8904
65.8971 75.4552 89.6957
69.0060 77.3475 91.1274
69.8120 79.1369 92.8362
2001M10 2001M11 2001M12 2002M1 2002M2 2002M3 2002M4 2002M5 1.1038 1.1257 1.1199 1.1329 1.1485 1.1408 1.1277 1.0891 121.3600 122.3100 127.0300 132.8000 133.4600 131.2400 130.7700 126.3400 0.6889 0.6964 0.6937 0.6984 0.7024 0.7025 0.6927 0.6850
0.9060 0.0082 1.4516
0.8883 0.0082 1.4360
0.8929 0.0079 1.4415
0.8827 0.0075 1.4318
0.8707 0.0075 1.4237
0.8766 0.0076 1.4235
0.8868 0.0076 1.4436
0.9182 0.0079 1.4599
69.3060 77.5132 91.9872
67.9577 76.9111 90.9966
68.3097 74.0534 91.3507
67.5258 70.8358 90.7360
66.6086 70.4855 90.2192
67.0582 71.6778 90.2064
67.8372 71.9355 91.4826
70.2415 74.4578 92.5109
2002M6 2002M7 2002M8 2002M9 2002M10 2002M11 2002M12 2003M1 1.0454 1.0083 1.0225 1.0189 1.0186 0.9984 0.9817 0.9404 123.2600 118.0200 118.9800 120.8300 123.9100 121.4500 122.0100 118.8000 0.6734 0.6424 0.6505 0.6424 0.6421 0.6364 0.6304 0.6179
0.9566 0.0081 1.4850 2002 73.1777 76.3184 94.1045
0.9918 0.0085 1.5567
0.9780 0.0084 1.5373
0.9815 0.0083 1.5567
0.9817 0.0081 1.5574
1.0016 0.0082 1.5713
1.0186 0.0082 1.5863
1.0634 0.0084 1.6184
75.8703 79.7068 98.6457
74.8166 79.0637 97.4174
75.0810 77.8532 98.6457
75.1031 75.9180 98.6918
76.6226 77.9260 81.3484 77.4557 77.1002 79.1835 99.5757 100.5235 102.5570
2003M2 2003M3 2003M4 2003M5 2003M6 2003M7 2003M8 2003M9 0.9276 0.9265 0.9199 0.8643 0.8569 0.8797 0.8969 0.8885 119.4300 118.6500 119.8900 117.3800 118.3400 118.6300 118.7100 114.9500 0.6220 0.6317 0.6349 0.6164 0.6022 0.6162 0.6275 0.6199
1.0781 0.0084 1.6077
1.0793 0.0084 1.5830
1.0871 0.0083 1.5751
1.1570 0.0085 1.6223
1.1670 0.0085 1.6606
1.1368 0.0084 1.6228
1.1150 0.0084 1.5936
1.1255 0.0087 1.6132
82.4709 82.5688 78.7658 79.2836 101.8810 100.3166
2003 83.1612 88.5109 89.2753 86.9615 85.2938 86.1002 78.4636 80.1414 79.4913 79.2970 79.2435 81.8356 99.8110 102.8066 105.2308 102.8400 100.9880 102.2262