Real Gross Domestic Product Percentage change from 2008 peak

Real Gross Domestic Product

Quarters from 2008 peak

−8

−6

−4

−2

02

4 8 12 16

GermanyFranceUnited KingdomSpainItalyNetherlands

Percentage change from 2008 peak, Seasonally Adjusted

Coo

ley−

Rup

ert E

urop

ean

Eco

nom

ic S

naps

hot;

ww

w.e

urop

eans

naps

hot.c

om

Sou

rce:

Eur

osta

t

Real Gross Domestic Product

Quarters from 2008 peak

−8

−6

−4

−2

02

4 8 12 16

GermanyFranceUnited KingdomSpainItalyNetherlandsUnited States

Percentage change from 2008 peak, Seasonally Adjusted

Coo

ley−

Rup

ert E

urop

ean

Eco

nom

ic S

naps

hot;

ww

w.e

urop

eans

naps

hot.c

om

Sou

rce:

Eur

osta

t

Real Gross Domestic Product

Quarters from 2009 trough

02

46

8

4 8 12

GermanyFranceUnited KingdomSpainItalyNetherlands

Percentage change from 2009 trough, Seasonally Adjusted

Coo

ley−

Rup

ert E

urop

ean

Eco

nom

ic S

naps

hot;

ww

w.e

urop

eans

naps

hot.c

om

Sou

rce:

Eur

osta

t

Real Private Final Consumption Expenditures

Quarters from 2008 peak

−8

−6

−4

−2

02

4

4 8 12 16

GermanyFranceUnited KingdomSpainItalyNetherlands

Percentage change from 2008 peak, Seasonally Adjusted

Coo

ley−

Rup

ert E

urop

ean

Eco

nom

ic S

naps

hot;

ww

w.e

urop

eans

naps

hot.c

om

Sou

rce:

Eur

osta

t

Real Private Final Consumption Expenditures

Quarters from 2008 peak

−8

−6

−4

−2

02

4

4 8 12 16

GermanyFranceUnited KingdomSpainItalyNetherlandsUnited States

Percentage change from 2008 peak, Seasonally Adjusted

Coo

ley−

Rup

ert E

urop

ean

Eco

nom

ic S

naps

hot;

ww

w.e

urop

eans

naps

hot.c

om

Sou

rce:

Eur

osta

t

Real Gross Capital Formation

Quarters from 2008 peak

−35

−30

−25

−20

−15

−10

−5

0

4 8 12 16

GermanyFranceUnited KingdomSpainItalyNetherlands

Percentage change from 2008 peak, Seasonally Adjusted

Coo

ley−

Rup

ert E

urop

ean

Eco

nom

ic S

naps

hot;

ww

w.e

urop

eans

naps

hot.c

om

Sou

rce:

Eur

osta

t

Real Gross Capital Formation

Quarters from 2008 peak

−35

−30

−25

−20

−15

−10

−5

0

4 8 12 16

GermanyFranceUnited KingdomSpainItalyNetherlandsUnited States

Percentage change from 2008 peak, Seasonally Adjusted

Coo

ley−

Rup

ert E

urop

ean

Eco

nom

ic S

naps

hot;

ww

w.e

urop

eans

naps

hot.c

om

Sou

rce:

Eur

osta

t

Real Residential Fixed Capital Formation

Quarters from 2008 peak

−40

−30

−20

−10

0

4 8 12 16

GermanyFranceUnited KingdomSpainItalyNetherlands

Percentage change from 2008 peak, Seasonally Adjusted

Coo

ley−

Rup

ert E

urop

ean

Eco

nom

ic S

naps

hot;

ww

w.e

urop

eans

naps

hot.c

om

Sou

rce:

Eur

osta

t

Real Final Consumption Expenditures of Government

Quarters from 2008 peak

−2

02

46

810

4 8 12 16

GermanyFranceUnited KingdomSpainItalyNetherlands

Percentage change from 2008 peak, Seasonally Adjusted

Coo

ley−

Rup

ert E

urop

ean

Eco

nom

ic S

naps

hot;

ww

w.e

urop

eans

naps

hot.c

om

Sou

rce:

Eur

osta

t

Real Final Consumption Expenditures of Government

Quarters from 2008 peak

−2

02

46

810

4 8 12 16

GermanyFranceUnited KingdomSpainItalyNetherlandsUnited States

Percentage change from 2008 peak, Seasonally Adjusted

Coo

ley−

Rup

ert E

urop

ean

Eco

nom

ic S

naps

hot;

ww

w.e

urop

eans

naps

hot.c

om

Sou

rce:

Eur

osta

t

Real Final Consumption Expenditures of Government (% of GDP)

Quarters from 2008 peak

−1

01

23

4 8 12 16

GermanyFranceUnited KingdomSpainItalyNetherlands

Change from 2008 peak, Seasonally Adjusted

Coo

ley−

Rup

ert E

urop

ean

Eco

nom

ic S

naps

hot;

ww

w.e

urop

eans

naps

hot.c

om

Sou

rce:

Eur

osta

t

Real Final Consumption Expenditures of Government (% of GDP)

Quarters from 2008 peak

−1

01

23

4 8 12 16

GermanyFranceUnited KingdomSpainItalyNetherlandsUnited States

Change from 2008 peak, Seasonally Adjusted

Coo

ley−

Rup

ert E

urop

ean

Eco

nom

ic S

naps

hot;

ww

w.e

urop

eans

naps

hot.c

om

Sou

rce:

Eur

osta

t

Real Exports

Quarters from 2008 peak

−20

−15

−10

−5

05

10

4 8 12 16

GermanyFranceUnited KingdomSpainItalyNetherlands

Percentage change from 2008 peak, Seasonally Adjusted

Coo

ley−

Rup

ert E

urop

ean

Eco

nom

ic S

naps

hot;

ww

w.e

urop

eans

naps

hot.c

om

Sou

rce:

Eur

osta

t

Real Exports

Quarters from 2008 peak

−20

−15

−10

−5

05

10

4 8 12 16

GermanyFranceUnited KingdomSpainItalyNetherlandsUnited States

Percentage change from 2008 peak, Seasonally Adjusted

Coo

ley−

Rup

ert E

urop

ean

Eco

nom

ic S

naps

hot;

ww

w.e

urop

eans

naps

hot.c

om

Sou

rce:

Eur

osta

t

Real Imports

Quarters from 2008 peak

−25

−20

−15

−10

−5

05

10

4 8 12 16

GermanyFranceUnited KingdomSpainItalyNetherlands

Percentage change from 2008 peak, Seasonally Adjusted

Coo

ley−

Rup

ert E

urop

ean

Eco

nom

ic S

naps

hot;

ww

w.e

urop

eans

naps

hot.c

om

Sou

rce:

Eur

osta

t

Real Imports

Quarters from 2008 peak

−25

−20

−15

−10

−5

05

10

4 8 12 16

GermanyFranceUnited KingdomSpainItalyNetherlandsUnited States

Percentage change from 2008 peak, Seasonally Adjusted

Coo

ley−

Rup

ert E

urop

ean

Eco

nom

ic S

naps

hot;

ww

w.e

urop

eans

naps

hot.c

om

Sou

rce:

Eur

osta

t

Government Consolidated Gross Debt

Quarters from 2008 peak

020

4060

8010

0

4 8 12 16

GermanyFranceUnited KingdomSpainItalyNetherlands

Percentage change from 2008 peak

Coo

ley−

Rup

ert E

urop

ean

Eco

nom

ic S

naps

hot;

ww

w.e

urop

eans

naps

hot.c

om

Sou

rce:

Eur

osta

t

Total Employment − Labour Force Survey

Quarters from 2008 peak

−15

−10

−5

05

4 8 12 16

GermanyFranceUnited KingdomSpainItalyNetherlands

Percentage change from 2008 peak, Resident Population Concept

Coo

ley−

Rup

ert E

urop

ean

Eco

nom

ic S

naps

hot;

ww

w.e

urop

eans

naps

hot.c

om

Sou

rce:

Eur

osta

t

Total Employment − National Accounts

Quarters from 2008 peak

−15

−10

−5

05

4 8 12 16

GermanyFranceUnited KingdomSpainItalyNetherlands

Percentage change from 2008 peak, Domestic Concept

Coo

ley−

Rup

ert E

urop

ean

Eco

nom

ic S

naps

hot;

ww

w.e

urop

eans

naps

hot.c

om

Sou

rce:

Eur

osta

t

Unemployment Rate

Months from 2008 peak

05

1015

6 12 18 24 30 36 42 48 54

GermanyFranceUnited KingdomSpainItalyNetherlands

Percentage point change from 2008 peak, Seasonally Adjusted

Coo

ley−

Rup

ert E

urop

ean

Eco

nom

ic S

naps

hot;

ww

w.e

urop

eans

naps

hot.c

om

Sou

rce:

Eur

osta

t

Unemployment Rate

Months from 2008 peak

05

1015

6 12 18 24 30 36 42 48 54

GermanyFranceUnited KingdomSpainItalyNetherlandsUnited States

Percentage point change from 2008 peak, Seasonally Adjusted

Coo

ley−

Rup

ert E

urop

ean

Eco

nom

ic S

naps

hot;

ww

w.e

urop

eans

naps

hot.c

om

Sou

rce:

Eur

osta

t

Unemployment Rate − Level

Year

1985 1990 1995 2000 2005 2010

510

1520

25

GermanyFranceUnited KingdomSpainItalyNetherlands

Seasonally Adjusted

Coo

ley−

Rup

ert E

urop

ean

Eco

nom

ic S

naps

hot;

ww

w.e

urop

eans

naps

hot.c

om

Sou

rce:

Eur

osta

t

Long−term Unemployment Rate

Quarters from 2008 peak

−2

02

46

8

4 8 12 16

GermanyFranceUnited KingdomSpainItalyNetherlands

Percentage point change from 2008 peak, Unemployed for over 12 months

Coo

ley−

Rup

ert E

urop

ean

Eco

nom

ic S

naps

hot;

ww

w.e

urop

eans

naps

hot.c

om

Sou

rce:

Eur

osta

t

Labor Force Participation Rate (Ages 15−64)

Quarters from 2008 peak

−2

−1

01

2

4 8 12 16

GermanyFranceUnited KingdomSpainItalyNetherlands

Percentage point change from 2008 peak

Coo

ley−

Rup

ert E

urop

ean

Eco

nom

ic S

naps

hot;

ww

w.e

urop

eans

naps

hot.c

om

Sou

rce:

Eur

osta

t

Labor Force Participation Rate (Ages 15−64)

Year

1995 2000 2005 2010

6065

7075

80

GermanyFranceUnited KingdomSpainItalyNetherlands

Coo

ley−

Rup

ert E

urop

ean

Eco

nom

ic S

naps

hot;

ww

w.e

urop

eans

naps

hot.c

om

Sou

rce:

Eur

osta

t

Female Labor Force Participation Rate (Ages 15−64)

Quarters from 2008 peak

−2

02

46

4 8 12 16

GermanyFranceUnited KingdomSpainItalyNetherlands

Percentage point change from 2008 peak

Coo

ley−

Rup

ert E

urop

ean

Eco

nom

ic S

naps

hot;

ww

w.e

urop

eans

naps

hot.c

om

Sou

rce:

Eur

osta

t

Female Labor Force Participation Rate (Ages 15−64)

Year

1995 2000 2005 2010

4050

6070

GermanyFranceUnited KingdomSpainItalyNetherlands

Coo

ley−

Rup

ert E

urop

ean

Eco

nom

ic S

naps

hot;

ww

w.e

urop

eans

naps

hot.c

om

Sou

rce:

Eur

osta

t

Employment Population Ratio (Ages 15−64)

Quarters from 2008 peak

−10

−8

−6

−4

−2

02

4

4 8 12 16

GermanyFranceUnited KingdomSpainItalyNetherlands

Percentage point change from 2008 peak, Resident Population Concept

Coo

ley−

Rup

ert E

urop

ean

Eco

nom

ic S

naps

hot;

ww

w.e

urop

eans

naps

hot.c

om

Sou

rce:

Eur

osta

t

Employment Population Ratio (Ages 15−64)

Year

1995 2000 2005 2010

4550

5560

6570

75

GermanyFranceUnited KingdomSpainItalyNetherlands

Resident Population Concept

Coo

ley−

Rup

ert E

urop

ean

Eco

nom

ic S

naps

hot;

ww

w.e

urop

eans

naps

hot.c

om

Sou

rce:

Eur

osta

t

Average Number of Weekly Hours Worked

Quarters from 2008 peak

−3

−2

−1

01

2

4 8 12 16

GermanyFranceUnited KingdomSpainItalyNetherlands

Percentage change from 2008 peak

Coo

ley−

Rup

ert E

urop

ean

Eco

nom

ic S

naps

hot;

ww

w.e

urop

eans

naps

hot.c

om

Sou

rce:

Eur

osta

t

●

●

●●

●

●

●

●

●

●●

●

●

●

●

●

●●

●

●

●

●

● ●

●

●

● ●

●

●

●

● ●

●●

●

●

●

●

● ●

●

●

●

U.K. Beveridge Curve

unemployment rate (percent)

vaca

ncy

rate

(pe

rcen

t)

1.6

1.8

2.0

2.2

2.4

2.6

5 6 7 8

●

●

●●

●

●

●

●

●

●●

●

●

●

●

●

●●

●

●

●

●

● ●

●

●

● ●

●

●

●

● ●

●●

●

●

●

●

● ●

●

●

●

●

●

●

●

● ●

●●

●

●

●

●

● ●

●

●

●

Sou

rce:

Eur

osta

t

Coo

ley−

Rup

ert E

cono

mic

Sna

psho

t; w

ww

.eur

opea

nsna

psho

t.com

2001 Q2 − 2012 Q1

2008 Q1 − 2012 Q1

●

●

●

●

●

●

●●

●

●

●

German Beveridge Curve

unemployment rate (percent)

vaca

ncy

rate

(pe

rcen

t)

2.0

2.2

2.4

2.6

2.8

3.0

5.5 6.0 6.5 7.0 7.5

●

●

●

●

●

●

●●

●

●

●

●

●

●

●

●

●

●●

●

●

●

Sou

rce:

Eur

osta

t

Coo

ley−

Rup

ert E

cono

mic

Sna

psho

t; w

ww

.eur

opea

nsna

psho

t.com

2009 Q4 − 2012 Q1

●●

●

●

●

●

●

● ● ●

●

●

●

●

●

●

●●●

●

●

●●●

●

●

●

●

●●

●

●

●

●

●

● ●

●

●

●

●

●

●

● ● ●

Netherlands Beveridge Curve

unemployment rate (percent)

vaca

ncy

rate

(pe

rcen

t)

1.5

2.0

2.5

3.0

2.5 3.0 3.5 4.0 4.5 5.0 5.5

●●

●

●

●

●

●

● ● ●

●

●

●

●

●

●

●●●

●

●

●●●

●

●

●

●

●●

●

●

●

●

●

● ●

●

●

●

●

●

●

● ● ●

●●

●

●

●

●

●

● ●

●

●

●

●

●

●

● ● ●

Sou

rce:

Eur

osta

t

Coo

ley−

Rup

ert E

cono

mic

Sna

psho

t; w

ww

.eur

opea

nsna

psho

t.com

2001 Q1 − 2012 Q1

2008 Q1 − 2012 Q1

● ●

● ●

● ●

● ● ● ●

●

● ●

Spain Beveridge Curve

unemployment rate (percent)

vaca

ncy

rate

(pe

rcen

t)

0.6

0.8

1.0

1.2

1.4

18 20 22 24

● ●

● ●

● ●

● ● ● ●

●

● ●

● ●

● ●

● ●

● ● ● ●

●

● ●

Sou

rce:

Eur

osta

t

Coo

ley−

Rup

ert E

cono

mic

Sna

psho

t; w

ww

.eur

opea

nsna

psho

t.com

2009 Q1 − 2012 Q1