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Harmonised competitiveness indicators based on unit labour costs indices for the total economy*

Harmonised competitiveness indicators based on unit labour costs indices for the total economy*

The purpose of harmonised competitiveness indicators (HCIs) is to provide consistent and comparable measures of euro area countries' price and cost competitiveness that are also consistent with the real effective exchange rates (EERs) of the euro. The HCIs are constructed using the same methodology and data sources that are used for the euro EERs. While the HCI of a specific country takes into account both intra and extra-euro area trade, however, the euro EERs are based on extra-euro area trade only. Therefore, the HCIs and euro EERs reflect different phenomena and are not directly comparable. The HCIs complement other competitiveness indicators published by some NCBs which may follow different methodologies and, in some cases, use different price and cost measures in order to account for the specific circumstances in the respective country.

Last update 2019-01-07 11:05:07
EU BE DE EE IE GR ES FR IT CY LV LT LU MT NL AT PT SI SK FI
1. Average 91.4075 97.6212 84.3992 183.8772 71.9022 88.1747 93.9657 95.1211 100.0277 95.3426 151.0056 138.0945 124.2072 102.2671 91.8253 92.6978 95.6992 97.4324 170.9157 95.5521
2. Growth rate to previous period 0.9090 0.1060 1.4398 4.0122 -0.8408 -1.0687 0.4074 -0.2089 -0.0801 0.3294 0.3226 2.3367 0.4455 -2.2809 0.0696 -0.1809 0.3662 -0.4602 0.4594 -0.1286
3. Annual rate of change -0.1440 -0.7760 1.2103 6.4134 -0.8896 -1.3476 -1.0481 -0.7030 0.0555 -1.7444 2.8438 2.7018 0.1578 -3.1307 -1.2413 -0.6132 0.3410 -1.0423 -0.2541 -0.0370
4. Percentage change since December 1998 (1998Q4 for quarterly data) -11.7244 -3.2360 -17.5764 78.2978 -32.6014 -11.4190 -6.7770 -5.6831 -1.9079 -5.1360 57.8473 44.4662 22.8716 2.3243 -9.3013 -7.5551 -4.9930 -3.3827 73.4698 -6.4048
(period averages; index 1999 Q1=100)

Legend
·    Data unknown, not to be published or not meaningful
Some values may be estimated or preliminary.
Detailed information on the observation status can be found in the time series view.


* For the euro area, the real effective exchange rate of the euro vis-à-vis 19 trading partners is displayed. For euro area countries, the table shows the harmonised competitiveness indicators calculated vis-à-vis the same 19 trading partners plus the other euro area countries. A positive change points to a decrease in cost competitiveness. For further information please refer to the explanatory note.

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