Á 45"5*45*$445"5*45*26&4.BJO&DPOPNJD*OEJDBUPST 1SJODJQBVYJOEJDBUFVST ÏDPOPNJRVFT.BSDINBST ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT ORGANISATION DE COOPÉRATION ET DE DÉVELOPPEMENT ÉCONOMIQUES
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Table of contents - Table des matières Graphs Tables/Text Graphiques Tableaux/Texte Feature article: Focus on Financial statistics v Introduction Introduction vii Key short-term indicators...conjoncture en bref... viii New series/revised series...nouvelles séries/séries révisées... x 1. Indicators by subject Indicateurs par sujet 1 National accounts....comptes nationaux...2 2 Industrial production...production industrielle...8 8 Composite leading indicators....indicateurs composites avancés...9 9 Construction and Passenger cars... Construction et Voitures de tourisme... 10 Retail trade...commerce de détail....11 11 Consumer price indices....indices des prix à la consommation....12 12 Producer price indices...indices des prix à la production....14 14 Hourly earnings....gains horaires....15 15 Standardised unemployment rates.. Chômage...16 16 Civilian employment...emploi civil...17 17 Short-term interest rates...taux d intérêt à court terme...18 18 Long-term interest rates...taux d intérêt à long terme...19 19 Share prices....cours des actions...20 20 Monetary aggregates...agrégats monétaires... 21 Real effective exchange rates....taux de change effectifs réels...22 22 World trade...commerce mondial...23 23 International trade...commerce international....24 24 Current balance...balance courante...26 26 Exchange rates...taux de change...27 27 2. Indicators for OECD Member countries Indicateurs des pays Membres de l OCDE 29 Canada...Canada...36 30 Mexico...Mexique....37 38 United States...États-Unis...50 42 Australia...Australie...51 52 Japan...Japon...66 58 Korea...Corée...67 68 New Zealand...Nouvelle-Zélande...78 74 Austria...Autriche...79 80 Belgium....Belgique....92 86 Czech Republic...République tchèque...93 94 Denmark...Danemark...104 98 Finland...Finlande...105 106 France....France...118 112 Germany...Allemagne...119 120 Greece...Grèce....130 126 Hungary....Hongrie...131 132 Iceland...Islande...140 136 Ireland...Irlande...141 142 Italy...Italie...154 148 Luxembourg...Luxembourg...155 156 Netherlands...Pays-Bas...164 160 Norway...Norvège...165 166 Poland...Pologne...176 172 Portugal...Portugal...177 178 Slovak Republic...République slovaque...186 182 Spain...Espagne...187 188 Sweden...Suède...200 194 Switzerland...Suisse...201 202 Turkey...Turquie...210 206 United Kingdom...Royaume-Uni...211 212 Euro area...zone euro...224 218 March 2005 iii mars 2005
Table of Contents (continued) Table des matières (suite) Tables/Text Tableaux/Texte 3. Indicators for OECD Indicateurs des pays non-member countries non-membres de l OCDE 225 Brazil...Brésil.... 226 China...Chine.... 230 India...Inde... 234 Indonesia...Indonésie.... 238 Russian Federation...Fédération de Russie.... 242 South Africa...Afrique du Sud... 246 4. Comparative tables Tableaux comparatifs 251 Basic structural statistics...statistiques de base structurelles... 252 Purchasing power parities...parités de pouvoir d achat... 256 Comparative price levels...niveaux de prix comparés... 258 Gross domestic product....produit intérieur brut... 259 Exchange rates...taux de change... 260 Explanatory notes Notes explicatives 263 Data presentation notes Notes sur la présentation des données 284 Developments in short-term economic Évolution des statistiques économiques 288 statistics à court terme March 2005 iv mars 2005
Feature article: Focus on Financial statistics The MEI has always contained Financial Statistics, which for most countries include; Monetary Aggregates, Interest Rates, Share Price Indexes, Exchange Rates and External Finance. In the 2004 year the MEI team reviewed the subject areas of Share Price Indexes, Immediate Interest Rates (overnight or less than 24 hour) and Long-Term Interest Rates (10-year government bonds) to provide better harmonised financial statistics, greater comparability and longer time series. This has been both in terms of the statistics provided (i.e. standardisation) and how they are presented. For many countries (if not most) a reasonably good understanding of the economy and the country s economic direction can be derived from these financial statistics and their trends over time i.e. the growth of the monetary aggregate, the level of interest rates, the direction of the share market etc. A number of these statistics relate directly to the government s control over the economy and their policy decisions; for example, fluctuations in market interest rates are influenced by Central Banks inflation targeting via monetary policy and most prominently thought their setting of official cash rates. One bonus that financial statistics can have over production and structural statistics is their almost immediate availability, which can provide the economic analyst with a truly up-to-date picture about an economy of interest. This is one reason why financial statistics are a major input into the Composite Leading Indicator (CLI) series, one of most used and quoted statistics in the MEI. What follows in this short article on Financial Statistics in the MEI is a description of each financial statistic and a brief review of their movements in the last 10 years with particular focus given to the last four years. Monetary aggregates The MEI publishes both:» Narrow Money or M1: currency i.e. banknotes and coins plus overnight deposits» Broad Money or M3: M1 plus deposits with an agreed maturity up to 2 years, plus deposits redeemable at a period of notice up to 3 months, plus repurchase agreements, plus money market fund shares/units, plus debt securities up to 2 years. For most countries the MEI has time series for monetary aggregate data back to 1980, (the US having the longest time series 1959), with the exception of the new Eastern European member countries which understandably only have data back to 1990. Analysis of differences in broad and narrow money growth within and across countries and comparing this to the OECD aggregate can provide analysts with an insight into developments of the country s money market and possibility what is driving any movements. Broad money growth has been steady over the last four years with the OECD aggregate growing by 26%, the European Monetary Union (EMU) by 29% and the OECD-Europe by 35%. A good example of the differences between broad and narrow monetary growth that could interest analysts is the contrast between the United States and Japanese monetary aggregates. Japan has seen its broad money increase by just 7% in the last four years, whereas its narrow money statistic has increased by 56% in this period. Compared to this the United States narrow monetary aggregate increased by 21%, whereas its broad money has increased by 35% over the last four years. 160 140 120 80 60 40 2000= Interest rates Monetary Aggregates - USA, Japan Jan-94 Oct-94 Jul-95 Apr-96 Jan-97 Oct-97 Jul-98 Apr-99 Jan-00 Oct-00 Jul-01 Apr-02 Jan-03 Oct-03 Jul-04 NarrowMoney-Japan Narrow Money - USA Broad Money - Japan Broad Money - USA The MEI publishes three types of interest rates; overnight rates, short-term which aims for three month rates, and long-term which are normally the rate on 10-year government bonds. A good selection of countries have data back to 1970 with the USA having yield data on 10-year federal government securities back to 1953. The last ten years have seen some historically low interest rates, and since 2000 a large number of countries have 10-year government bond rates not seen since the late sixties and early seventies. What is also interesting is the close relationship and convergence over the last 10 years in regards to long-term interest rates amongst OECD countries. Charted together below are 10-year government bond rates for Australia, New Zealand and the USA from 1970. The graph shows that from around 1994 to 1997 when the three country rates converged, there March 2005 v mars 2005
has been an ongoing strong correlation. It also suggests that although the USA has had reasonably lower short-term interest rates since late 2001, for example; (2.61% for January 2005) compared to both Australia (5.42%) and New Zealand (6.76%), this has not been reflected to such a degree in the 10-year rates. Japan s and Korea s holdings of these assets, as seen in the graph below. From January 2000 to December 2004, Japan s reserve assets as measured in SDRs have increased by 321 billion SDRs and Korea s by 69 billion SDRs (for December 2004 the SDR/USD rate was 1.5530). As at the end of December 2004 these two countries, in total, now hold reserve assets worth 666 billion SDRs or $1034 billion US dollars. %pa 20.00 Australia, New Zealand, USA - 10-year Government Bond Yields 600 SDR billions Reserve Assets 18.00 500 16.00 14.00 400 12.00 300 10.00 8.00 200 6.00 4.00 2.00 Jan-70 Jan-73 Jan-76 Jan-79 Jan-82 Jan-85 Jan-88 Jan-91 Jan-94 Jan-97 Jan-00 Jan-03 Australia New Zealand USA 0 Jan-94 Oct-94 Jul-95 Apr-96 Jan-97 Oct-97 Jul-98 Apr-99 Jan-00 Oct-00 Jul-01 Apr-02 Jan-03 Oct-03 Jul-04 Japan Korea USA Share prices The MEI presents a share price index for every OECD country, with most major countries having data back to at least 1970. In the near future the MEI team will be investigate the possibility of providing an OECD total share price index, much like the European Central Bank (ECB) which presently provides an EMU share price index using market capitalisation as weights. This EMU index is published in the MEI and provides a useful point of comparison against the USA and Japanese share markets. External finance and Exchange rates The significant picture for most OECD countries exchange rates against the US dollar since January 2002 has been the unilateral appreciation; however there are two clear exceptions the Japanese Yen, and the Korean Won. The yen and the won have virtually the same currency cross against the US dollar in 2004 as in 2000. The MEI database thus provides analysts with the opportunity to study relationships between the changes in financial statistics for countries and across countries using long time series and internationally comparable data. For the major currencies, MEI has monthly exchange rate data against the US dollar going back until 1957 on both a monthly average of daily spot rates and an end of month basis. The statistic measured under the External Finance heading is Reserve Assets (also known as Official Reserve Assets or Official Reserves). These are defined as external liquid assets under the control of Monetary Authorities (Central Banks) for direct financing of Balance of Payments imbalances through exchange rate intervention. They are seen as an essential part in the evaluation of a countries external position and its ability to manage this position. The MEI tries to provide a measure of reserve asset statistics both in the country s currency and in Special Drawing Rights (SDRs an International Monetary Fund determined currency unit composed of a weighted basket of the four major currencies). For most countries the Reserve Asset data series as measured in SDRs in the MEI have historical data back to the mid-fifties. A notable change in reserve assets over the last four years has been the big increases seen in both March 2005 vi mars 2005
Introduction (MEI) provides a wide range of indicators on recent economic developments in the 30 OECD Member countries and 6 non-member countries within the program of the OECD Centre for Co-operation with Non-Members (CCNM). The indicators are presented in two ways:» by subject (Part One) where the emphasis is on comparative data for key statistical series for OECD Member countries,» by country where detailed statistical series for OECD Member countries and the Euro area (Part Two) and non-member countries (Part Three) are presented. A final section (Part Four) presents data on a variety of structural indicators for OECD Member countries. The indicators published in MEI have been prepared by national statistical agencies primarily to meet the requirements of users within their own country. In most instances, the indicators are compiled in accordance with international statistical guidelines and recommendations. However, national practices may depart from these guidelines, and these departures may impact on comparability between countries. Information on issues that impact on the comparability of the indicators published in MEI is provided in the Explanatory Notes at the back of the publication. More detailed methodological information on national compilation practices is provided on the OECD Internet site at http://www.oecd.org/std/mei for both Member and non-member countries. The OECD works closely with countries to improve the quality and international comparability of short-term economic statistics. Current major initiatives in this work are summarised in the Developments in short-term economic statistics section at the end of this publication. If you require additional information on the data presented in this publication, or if you wish to make comments or suggestions to improve the contents and presentation, you are welcome to contact the OECD Statistics Directorate by e-mail (stat.contact@oecd.org) or fax (00 33 1 44 30 63 52). The OECD Statistics Directorate wishes to thank the national statistical offices, central banks, national research institutes, international organisations and other agencies which provide data to the OECD. Without their co-operation, MEI could not be produced. Les Principaux indicateurs économiques (PIE) fournissent un large éventail d indicateurs statistiques relatifs aux récentes évolutions de la conjoncture économique dans les 30 pays Membres de l OCDE et dans 6 pays non-membres dans le cadre du programme du Centre de coopération avec les pays non-membres (CCNM) de l OCDE. Les indicateurs sont présentés de deux façons:» par sujet (Première partie), l accent est mis sur les données comparatives pour les séries statistiques clés des pays Membres de l OCDE,» par pays, des séries statistiques plus détaillées pour les pays Membres de l OCDE et la Zone euro (Deuxième partie) et des pays non-membres (Troisième partie) sont présentées. Une dernière section (Quatrième partie) présente des données pour un ensemble d indicateurs structurels des pays Membres de l OCDE. Les indicateurs publiés dans les PIE sont élaborés par les organismes nationaux essentiellement pour répondre aux besoins des utilisateurs de leurs pays. Dans la plupart des cas, ces indicateurs sont établis conformément aux recommandations et aux directives internationales sur les statistiques. Cependant, les pratiques nationales peuvent différer de ces directives, et ces divergences peuvent perturber les comparaisons entre les pays. Les informations relatives aux effets de ces différences sur les comparaisons de statistiques sont disponibles dans les Notes explicatives à la fin de l ouvrage. Des informations méthodologiques plus détaillées sur les méthodes de compilation des données sont disponibles sur le site Internet de l OCDE : http://www.oecd.org/std/mei pour les pays Membres et les pays non-membres. L OCDE travaille en étroite collaboration avec les pays pour améliorer la qualité et la comparabilité internationale des statistiques économiques à court terme. Les principales initiatives récentes à cet égard sont résumées dans la section Évolution des statistiques économiques à court terme, à la fin de la publication. Si vous désirez plus d informations sur les données présentées dans cette publication, ou si vous voulez apporter des commentaires ou suggestions pour améliorer le contenu et la présentation, vous êtes invités à contacter la Direction des Statistiques de l OCDE par courrier électronique (stat.contact@oecd.org) ou par télécopie (00 33 1 44 30 63 52). La Direction des Statistiques de l OCDE tient à remercier les instituts statistiques nationaux, les banques centrales, les instituts de recherche nationaux, les organisations internationales et autres organismes qui fournissent des données à l OCDE. Sans leur coopération, les PIE ne pourraient être élaborés. March 2005 vii mars 2005
KEY SHORT-TERM INDICATORS FOR OECD MEMBER COUNTRIES Gross Domestic Product Leading Indicator Consumer Price Index period % change from previous period % change from previous period % change from previous period year period year period year Canada Q4 04 0.4 3.0 Jan. 05 0.2-1.1 Jan. 05-0.1 2.0 Mexico Q4 04 1.8 5.0 Jan. 05 2.6 5.7 Jan. 05 0.0 4.5 United States Q4 04 0.9 3.9 Jan. 05 0.6 1.5 Jan. 05 0.2 3.0 Australia Q4 04 0.1 1.5 Dec. 04 0.6 4.1 Q4 04 0.8 2.6 Japan Q4 04-0.1 0.8 Jan. 05 0.0 0.8 Jan. 05-0.5-0.1 Korea Q3 04 0.6 4.8.... Feb. 05 0.6 3.3 New Zealand Q3 04 0.5 4.0.... Q4 04 0.9 2.7 Austria Q3 04 0.8 2.5 Jan. 05 0.7 4.9 Jan. 05 0.1 2.9 Belgium Q4 04 0.4 2.6 Jan. 05-0.5 0.4 Feb. 05 0.7 2.6 Czech Republic Q3 04 0.8 3.5.... Jan. 05 0.7 1.7 Denmark Q4 04 0.7 2.1 Jan. 05 1.1 12.0 Jan. 05-0.3 1.0 Finland Q4 04 0.6 3.6 Jan. 05 0.3 2.5 Jan. 05-0.5 0.2 France Q4 04 0.8 2.2 Jan. 05-0.2 1.3 Jan. 05-0.5 1.6 Germany Q4 04-0.2 0.6 Jan. 05 0.0 2.0 Jan. 05-0.4 1.6 Greece Q4 04-0.1 4.0 Dec. 04 0.6-2.0 Jan. 05 0.3 4.1 Hungary Q3 04 2.6 3.7.... Jan. 05 0.8 4.1 Iceland Q3 04 6.6 7.4.... Feb. 05 0.2 4.5 Ireland Q3 04-0.7 5.9 Jan. 05 0.0 7.7 Jan. 05-0.8 2.3 Italy Q4 04-0.3 1.0 Jan. 05-0.2-0.8 Feb. 05 0.3 1.9 Luxembourg 2003.. 2.1 Jan. 05-0.3 2.2 Jan. 05-0.9 2.0 Netherlands Q4 04-0.1 1.0 Jan. 05 0.1 2.1 Jan. 05 0.5 1.5 Norway Q3 04-1.0 1.6 Jan. 05 1.7 8.2 Jan. 05-0.2 1.1 Poland Q3 04-0.8 4.3.... Dec. 04 0.1 4.2 Portugal Q3 04-1.2 0.8 Jan. 05-0.5 0.0 Jan. 05-0.5 2.0 Slovak Republic Q3 04 2.0 5.3.... Jan. 05 1.6 3.2 Spain Q4 04 0.8 2.7 Jan. 05-0.3 2.7 Jan. 05-0.8 3.1 Sweden Q3 04 0.9 3.7 Dec. 04 0.6 7.8 Jan. 05-0.5 0.0 Switzerland Q4 04-0.1 1.2 Jan. 05 0.3 1.4 Feb. 05 0.2 1.4 Turkey Q3 04 28.3 4.5 Jan. 05 0.4 2.2 Feb. 05 0.3 9.2 United Kingdom Q4 04 0.7 2.9 Jan. 05-0.2-0.8 Jan. 05-0.5 3.2 Euro area Q3 04 0.2 1.9 Jan. 05-0.1 1.6 Jan. 05-0.6 1.9 période variation par rapport à (%) période variation par rapport à (%) période variation par rapport à (%) la période l année la période l année la période l année précédente précédente précédente précédente précédente précédente Produit intérieur brut Indicateur avancé Prix à la consommation Definitions and notes Gross Domestic Product: Volume series; seasonally adjusted except for Hungary, Iceland, Poland, Slovak Republic and Turkey. Leading Indicators: A composite indicator based on other indicators of economic activity (qualitative opinions on production or employment, housing permits, financial or monetary series,etc.), which signals cyclical movements in industrial production from six to nine months in advance. Consumer Price Index: Measures changes in average retail prices of a fixed basket of goods and services. See subject table in Part One for notes on Sweden. HICP for Euro area. Current Balance: Billion US dollars; seasonally adjusted except for Greece, Ireland and Netherlands. Unemployment Rate: Per cent of civilian labour force standardised unemployment rate (see subject table in Part One); national definitions for Iceland, Korea, Mexico and Turkey; seasonally adjusted apart from Turkey. Interest Rate: Three months. Euro area rate is applicable for the 12 Euro area countries. March 2005 viii mars 2005
CONJONCTURE EN BREF POUR LES PAYS MEMBRES DE L OCDE Current Balance Unemployment Rate Interest Rate period current period same period last year period current period same period last year period current period same period last year T4 04 5.16 5.06 jan. 05 7.0 7.3 fév. 05 2.58 2.32 Canada T3 04-2.19-2.12 déc. 04 3.8 3.5 fév. 05 9.31 5.63 Mexique T3 04-164.71-131.63 fév. 05 5.4 5.6 jan. 05 2.61 1.06 États-Unis T4 04-11.48-8.62 fév. 05 5.1 5.9 fév. 05 5.63 5.57 Australie déc. 04 17.11 12.46 jan. 05 4.5 5.0 fév. 05 0.02 0.03 Japon jan. 05 3.07 2.15 jan. 05 3.6 3.4 jan. 05 3.50 4.30 Corée T3 04-2.02-1.02 T4 04 3.6 4.6 fév. 05 6.83 5.59 Nouvelle-Zélande T3 04-0.45-0.49 jan. 05 4.5 4.5.... Autriche T3 04 2.24 2.67 jan. 05 8.0 7.8.... Belgique T4 04-1.42-0.83 jan. 05 8.3 8.3 fév. 05 2.25 2.06 République tchèque T4 04 1.07 1.62 déc. 04 5.1 5.7 fév. 05 2.14 2.13 Danemark déc. 04 2.08 0.36 jan. 05 8.9 9.0.... Finlande déc. 04-1.59 0.00 jan. 05 9.7 9.7.... France T4 04 25.09 19.88 jan. 05 9.6 9.5.... Allemagne déc. 04-2.15-2.17 juin 04 10.5 9.6.... Grèce T3 04-2.69-2.01 jan. 05 6.3 5.7 fév. 05 8.71 12.66 Hongrie T4 04-0.47-0.26 jan. 05 2.7 3.2 jan. 05 7.23 5.10 Islande T3 04-0.11-0.21 jan. 05 4.3 4.6.... Irlande sept. 04-1.17-1.68 sept. 04 7.8 8.4.... Italie T3 04 0.75 0.54 jan. 05 4.4 4.0.... Luxembourg T4 04 11.69 6.24 déc. 04 4.7 4.3.... Pays-Bas T4 04 9.65 7.27 nov. 04 4.4 4.5 fév. 05 1.92 2.01 Norvège déc. 04-0.10-0.67 jan. 05 18.2 19.1 nov. 04 6.77 5.83 Pologne déc. 04-1.10-0.26 jan. 05 6.9 6.3.... Portugal T3 04-0.68-0.23 jan. 05 16.5 18.4 jan. 05 7.68 7.56 République slovaque nov. 04-6.49-4.63 jan. 05 10.3 11.1.... Espagne T4 04 8.14 6.26 jan. 05 6.1 6.1 fév. 05 1.97 2.46 Suède T3 04 8.47 9.67 T4 04 4.3 4.3 jan. 05 0.75 0.25 Suisse T4 04-4.46-3.31 T4 04 10.0 10.3 fév. 05 16.31 23.30 Turquie T3 04-15.95-9.87 nov. 04 4.6 4.9 fév. 05 4.82 4.10 Royaume-Uni nov. 04 0.00 3.75 jan. 05 8.8 8.9 fév. 05 2.14 2.07 Zone euro période valeur courante même période année précédente période valeur courante même période année précédente période valeur courante même période année précédente Balance courante Taux de chômage Taux d intérêt Définitions et notes Produit intérieur brut : Séries en volume ; corrigées des variations saisonnières sauf pour l Islande, la Hongrie, la Pologne, la République slovaque et la Turquie. Indicateur avancé : Indice composite, basé sur différents indicateurs de l activité économique (opinions qualitatives sur la production ou l emploi, permis de construire, séries financières ou monétaires, etc.), qui signale les mouvements cycliques de la production industrielle de six à neuf mois en avance. Indice des prix à la consommation : Mesure les variations dans le temps des prix de vente au détail d un panier constant de biens et services. Voir le tableau sujet de la Première partie pour les notes concernant la Suède. IPCH pour la Zone euro. Balance courante : Milliards de dollars É-U ; corrigée des variations saisonnières sauf pour la Grèce, l Irlande et les Pays-Bas. Taux de chômage : Pourcentage de la population active civile taux de chômage standardisés (voir le tableau sujet de la Première partie) ; définitions nationales pour la Corée, l Islande, le Mexique et la Turquie ; corrigé des variations saisonnières sauf pour la Turquie. Taux d intérêt : Taux à trois mois. Le taux de la Zone euro s applique aux 12 pays de la Zone euro. March 2005 ix mars 2005
New series Revised series Nouvelles séries Séries révisées New Series Nouvelles séries New Zealand Finance : Interest rates Overnight interbank rate Nouvelle-Zélande Finance : Taux d intérêt Taux interbancaire au jour le jour Portugal Labour : Labour compensation Hourly earnings: manufacturing Portugal Main-d oeuvre : Rémunération du travail Gains horaires : ind. manufacturières Revised Series Séries révisées Mexico Production : Indices of production Electricity, gas and water Mexique Production : Indices de production Électricité, gaz et eau Finland Production : Indices of production Finlande Production : Indices de production For further information on new and revised series, see the section Database notes on the Internet at http://www.oecd.org/std/mei. Pour plus d informations sur les séries nouvelles et révisées, veuillez consulter la section Database notes sur Internet à l adresse http://www.oecd/std/mei. March 2005 x mars 2005
Part One - Indicators by subject Première Partie - Indicateurs par sujet In most cases, the series shown in this section can also be found in Part Two, Indicators for OECD Member Countries. In the interests of uniformity, some of them have been converted to index numbers for presentation in Part One. It should be borne in mind that the concepts and definitions used to compile statistics are seldom exactly the same from one country to another and sometimes there may be important differences in methodology underlying the statistics for different countries. Nevertheless, the data are considered to be sufficiently similar to enable meaningful comparisons to be made between countries, especially in respect of the movements or rates of change of the various indicators. When the series have not been seasonally adjusted, however, these changes may be affected by seasonal factors which may differ between countries, especially between countries which are far apart geographically. Some of the more important differences in methodology and coverage are provided in the Explanatory notes, in the MEI Sources and Definitions or in footnotes to the tables. Un bon nombre des séries présentées dans cette section figure également dans la Deuxième partie, Indicateurs des pays Membres de l OCDE. Dans la Première partie, par souci d homogénéité, certaines de ces séries ont été converties en indices. Il convient de signaler que les concepts et les définitions utilisés dans l élaboration des statistiques sont rarement les mêmes d un pays à l autre et peuvent entraîner d importantes différences de méthodologie. Cependant, les données sont considérées comme suffisamment similaires pour pouvoir être utilisées comme moyens de comparaison acceptables entre pays, lorsqu il s agit de l évolution ou du taux de variation. Toutefois, les séries qui ne sont pas corrigées des variations saisonnières peuvent présenter des mouvements saisonniers sensiblement différents, en particulier lorsque les pays considérés sont géographiquement éloignés les uns des autres. Les différences de méthodologie et de couverture les plus importantes sont décrites dans les Notes explicatives, dans les Sources et définitions des PIE ou par des notes au bas des tableaux. March 2005 1 mars 2005
NATIONAL ACCOUNTS (Volume) COMPTES NATIONAUX (Volume) GROSS DOMESTIC PRODUCT PRODUIT INTÉRIEUR BRUT 2002 2003 2004 4-quarter rate of change 2001 2002 2003 2004 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Variation sur 4 trimestres 2000 =, sa 2000 =, cvs Canada 101.8 105.3 107.4 110.4 104.9 106.0 106.5 107.2 107.0 107.3 108.2 109.0 110.2 111.0 111.5 3.0 Mexico - Mexique 99.9.6 101.9 106.3.3 101.2 101.2.7 101.9 101.9 103.2 104.5 105.8 106.4 108.4 5.0 United States - États-Unis.8 102.6 105.7 110.4 102.4 103.1 103.2 103.7 104.8 106.7 107.8 109.0 109.9 110.9 112.0 3.9 Australia - Australie 102.6 106.5 110.3 113.5 106.4 107.2 107.6 108.4 108.9 110.7 112.5 112.9 113.7 114.0 114.1 1.5 Japan - Japon.2 99.9 101.3 103.9.0.5.7.3 101.0 101.5 102.9 104.4 104.2 103.9 103.8 0.8 Korea - Corée 103.8 111.1 114.5 110.5 111.9 113.1 112.8 112.7 114.6 117.7 118.5 119.3 120.1 4.8 New Zealand - Nouvelle-Zélande 102.8 107.6 111.2 107.1 108.3 109.4 110.0 109.7 111.9 113.0 114.9 115.8 116.4 4.0 Austria - Autriche.7 101.9 102.7 102.1 102.0 102.0 102.3 102.6 102.8 103.2 103.7 104.5 105.4 2.5 Belgium - Belgique.7 101.6 102.9 105.8 101.6 102.2 102.1 102.3 102.4 103.1 103.9 104.6 105.4 106.1 106.5 2.6 Czech Republic - République tchèque 102.6 104.2 108.0 103.8 104.3 105.1 106.6 107.4 108.6 109.6 110.5 111.5 112.4 3.5 Denmark - Danemark 101.6 102.6 103.0 105.2 102.6 102.8 102.2 102.9 102.5 103.2 103.6 104.7 105.0 105.1 105.8 2.1 Finland - Finlande 101.1 103.3 105.8 109.6 103.2 103.5 104.6 104.7 105.7 106.3 106.9 108.0 108.9 110.1 110.8 3.6 France 102.2 103.2 103.8 106.4 103.4 103.6 103.4 103.5 103.0 104.1 104.7 105.5 106.2 106.2 107.0 2.2 Germany - Allemagne.8.9.8 102.4 101.0 101.3 101.2.9.7.9 101.2 101.7 102.1 102.1 101.9 0.6 Greece - Grèce 104.3 108.1 112.9 117.3 107.5 108.9 108.6 112.4 111.8 113.9 113.5 116.9 116.1 118.2 118.1 4.0 Ireland - Irlande 106.0 112.5 116.6 111.1 113.9 114.5 114.5 116.8 114.7 120.4 121.7 122.4 121.5 5.9 Italy - Italie 101.8 102.1 102.4 102.0 102.2 102.6 102.4 102.2 102.6 102.7 103.2 103.6 104.0 103.7 1.0 Netherlands - Pays-Bas 101.4 102.0 101.1 102.5 102.1 102.3 102.0 101.4.7.9 101.5 102.4 102.3 102.6 102.5 1.0 Norway - Norvège 102.7 103.9 104.3 104.8 103.7 104.2 103.1 103.6 104.9 105.2 106.4 107.7 106.6 1.6 Portugal 101.7 102.1.9 103.3 101.9.7 101.2 101.1.9.6 101.7 102.9 101.7 0.8 Spain - Espagne 102.8 105.1 107.7 110.6 104.7 105.3 105.8 106.7 107.3 108.0 108.8 109.7 110.2 110.8 111.8 2.7 Sweden - Suède 101.0 103.0 104.6 103.2 103.3 103.6 104.0 104.3 105.0 105.8 106.8 107.9 108.9 3.7 Switzerland - Suisse 101.0 101.4 101.0 102.7 101.2 101.5 101.6.5.5 101.1 101.7 102.1 102.6 103.0 102.9 1.2 United Kingdom - Royaume-Uni 102.3 104.1 106.4 109.7 103.6 104.6 104.9 105.4 105.8 106.7 107.8 108.4 109.5 110.1 110.8 2.9 OECD-Total - OCDE-Total (1) 101.1 102.7 104.8 102.6 103.2 103.4 103.6 104.2 105.3 106.3 107.4 108.1 108.7 3.3 Major seven - Sept grands (1) 101.0 102.2 104.3 102.1 102.7 102.9 103.1 103.6 104.8 105.8 106.8 107.4 108.0 108.6 2.7 OECD-Europe - OCDE-Europe (1) 101.4 102.8 104.1 102.7 103.2 103.4 103.6 103.7 104.4 105.1 105.9 106.7 107.2 2.7 EU15 - UE15 (1) 101.8 102.9 103.8 102.8 103.2 103.3 103.4 103.4 104.0 104.6 105.3 105.9 106.2 2.1 Euro area - Zone euro (1 2) 101.7 102.6 103.3 102.6 102.9 103.0 103.0 102.9 103.5 103.9 104.7 105.1 105.4 1.9 (1) Area totals include all OECD member countries. Data for countries not shown in the above table are estimated by the Secretariat and used in the zone calculations. Weights used for calculating aggregate indices are based on the 2000 GDP Purchasing Power parity. See explanatory notes for more details. (2) OECD calculation, see Treatment of Euro area statistics in the explanatory notes. (1) Les données incluent tous les pays membres de l OCDE. Les données des pays absents du tableau sont estimées par le Secrétariat et sont intégrées aux calculs.pour le calcul des indices agrégés, la pondération est basée sur les parités de pouvoir d achat (PPA) du PIB en 2000. Pour plus de détails, voir les notes explicatives. (2) Calcul OCDE, voir le Traitement des statistiques pour la Zone euro dans les notes explicatives. 8 % GROSS DOMESTIC PRODUCT (volume) 4-quarter rate of change % 8 6 6 4 4 2 2 0 0-2 -2-4 CAN MEX USA AUS JPN KOR NZL AUT BEL CZE DNK FIN FRA DEU GRC IRL ITA NLD NOR PRT ESP SWE CHE GBR -4 Q3 04 EU15 Japan USA March 2005 2 mars 2005
NATIONAL ACCOUNTS (Volume) COMPTES NATIONAUX (Volume) PRIVATE CONSUMPTION CONSOMMATION PRIVÉE 2002 2003 2004 4-quarter rate of change 2001 2002 2003 2004 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Variation sur 4 trimestres 2000 =, sa 2000 =, cvs Canada 102.7 106.2 109.5 113.3 106.1 106.3 107.4 108.2 109.1 110.2 110.4 112.1 112.6 113.6 114.8 3.9 Mexico - Mexique 102.5 103.8 106.9 104.3 103.8 104.5 105.5 106.3 108.1 107.9 109.5 112.0 114.1 5.6 United States - États-Unis 102.5 105.7 109.1 113.2 105.3 106.1 106.8 107.5 108.5 109.8 110.8 111.9 112.4 113.8 114.9 3.7 Australia - Australie 102.9 106.9 111.6 117.7 106.6 107.5 108.2 109.0 110.5 112.2 114.4 116.0 117.1 118.4 118.9 3.9 Japan - Japon 101.1 101.6 101.8 103.4 101.7 102.4 102.0 101.9 101.6 101.8 102.9 103.7 103.8 103.6 103.2 0.3 Korea - Corée 104.9 113.2 111.6 113.2 113.9 113.9 112.2 111.3 111.6 111.1 110.8 110.8 110.7-0.9 New Zealand - Nouvelle-Zélande 102.4 106.8 112.3 106.0 106.5 108.9 109.4 111.1 112.7 114.7 117.3 117.6 119.5 6.0 Austria - Autriche 101.0.9 101.5.8.9 101.1 101.2 101.2 101.4 101.9 102.4 102.6 102.5 1.1 Belgium - Belgique.6.9 103.1.5 101.5 101.9 102.4 103.0 103.5 103.7 104.6 105.1 105.7 2.1 Czech Republic - République tchèque 102.6 105.5 113.2 105.0 105.6 107.1 109.3 110.4 111.4 111.6 114.7 114.8 115.4 3.6 Denmark - Danemark 99.8.4 101.3 105.5.5 99.9.7.3.5 101.3 102.9 103.5 104.5 105.5 108.6 5.4 Finland - Finlande 101.8 103.3 107.8 111.3 102.9 103.6 105.1 106.1 107.8 108.6 109.6 110.4 110.4 111.3 112.3 2.5 France 102.9 104.7 106.5 109.0 104.5 105.2 105.5 106.1 105.8 106.9 107.2 108.4 108.8 108.6 109.9 2.5 Germany - Allemagne 101.7 101.0 101.0.6.9 101.4 101.4 101.5 101.3 101.0.4.5.1.2.4 0.0 Greece - Grèce 102.8 106.0 110.5 115.0 104.4 107.1 107.2 109.7 108.7 110.9 112.5 114.1 112.9 116.3 116.7 3.8 Ireland - Irlande 105.2 108.0 110.8 107.7 110.2 109.8 110.7 111.4 111.7 112.5 114.4 114.2 114.7 2.7 Italy - Italie.8 101.3 102.5.9 101.6 102.2 102.1 102.4 103.0 102.7 103.9 103.4 103.7 0.7 Netherlands - Pays-Bas 101.4 102.6 101.7 102.1 102.4 103.0 103.1 102.4 101.5 101.3 101.4 102.1 102.2 101.9 102.4 0.9 Norway - Norvège 101.8 104.9 108.0 104.8 105.0 106.0 105.8 107.6 108.8 109.6 111.5 111.6 112.6 3.5 Portugal 101.2 102.3 101.8 102.7 102.5 101.4 101.0 101.4 102.2 102.4 102.6 104.4 104.4 2.1 Spain - Espagne 102.8 105.7 108.8 112.6 105.5 105.8 107.0 107.6 108.4 109.0 110.1 111.2 112.3 112.8 114.0 3.5 Sweden - Suède.4 101.8 103.4 101.6 101.9 102.8 102.7 103.0 103.8 104.0 104.8 105.2 105.6 1.7 Switzerland - Suisse 102.0 102.3 102.8 104.1 102.3 102.4 102.3 102.5 102.6 102.9 103.3 103.8 104.0 104.2 104.4 1.1 United Kingdom - Royaume-Uni 102.9 106.3 108.7 112.1 106.0 106.6 107.6 107.4 108.3 109.3 109.9 111.1 111.9 112.5 113.0 2.8 OECD-Total - OCDE-Total (1) 102.0 104.4 106.8 104.2 104.8 105.3 105.7 106.3 107.2 107.9 109.0 109.4 110.3 2.8 Major seven - Sept grands (1) 102.2 104.4 106.7 104.1 104.8 105.3 105.7 106.3 107.2 107.8 108.9 109.1 109.9 2.6 OECD-Europe - OCDE-Europe (1) 101.5 103.0 104.9 102.7 103.4 104.0 104.3 104.6 105.2 105.6 106.6 107.0 107.4 2.1 EU15 - UE15 (1) 102.0 103.3 104.8 103.1 103.7 104.1 104.3 104.5 105.1 105.3 106.1 106.3 106.6 1.5 Euro area - Zone euro (1 2) 101.9 102.7 103.9 102.5 103.1 103.4 103.7 103.8 104.2 104.2 105.0 105.1 105.3 1.1 (1) Area totals include all OECD member countries. Data for countries not shown in the above table are estimated by the Secretariat and used in the zone calculations. Weights used for calculating aggregate indices are based on the 2000 GDP Purchasing Power parity. See explanatory notes for more details. (2) OECD calculation, see Treatment of Euro area statistics in the explanatory notes. (1) Les données incluent tous les pays membres de l OCDE. Les données des pays absents du tableau sont estimées par le Secrétariat et sont intégrées aux calculs.pour le calcul des indices agrégés, la pondération est basée sur les parités de pouvoir d achat (PPA) du PIB en 2000. Pour plus de détails, voir les notes explicatives. (2) Calcul OCDE, voir le Traitement des statistiques pour la Zone euro dans les notes explicatives. 8 % PRIVATE CONSUMPTION (volume) 4-quarter rate of change % 8 6 6 4 4 2 2 0 0-2 -2-4 CAN MEX USA AUS JPN KOR NZL AUT BEL CZE DNK FIN FRA DEU GRC IRL ITA NLD NOR PRT ESP SWE CHE GBR -4 Q3 04 EU15 Japan USA March 2005 3 mars 2005
NATIONAL ACCOUNTS (Volume) COMPTES NATIONAUX (Volume) GOVERNMENT CONSUMPTION CONSOMMATION DES ADMINISTRATIONS PUBLIQUES 2002 2003 2004 4-quarter rate of change 2001 2002 2003 2004 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Variation sur 4 trimestres 2000 =, sa 2000 =, cvs Canada 103.7 106.6 110.7 113.5 105.9 107.2 108.2 109.1 110.7 110.8 111.9 112.7 113.2 113.7 114.3 2.1 Mexico - Mexique 98.0 98.2.6 98.2 99.2 98.9 98.9 101.0 101.6 101.0 98.6 96.2 96.3-5.1 United States - États-Unis 103.1 107.2 110.3 112.3 106.9 107.4 108.8 108.8 110.9 110.6 111.1 111.7 111.9 112.7 112.7 1.5 Australia - Australie.5 104.0 108.2 112.3 103.7 104.0 106.3 106.3 107.6 108.7 110.0 110.7 111.3 112.9 114.3 3.9 Japan - Japon 103.0 105.7 107.0 109.8 105.5 106.4 106.6 106.7 106.5 107.4 107.7 108.8 109.7 110.0 110.5 2.7 Korea - Corée 104.9 111.2 115.2 110.8 111.4 112.5 114.1 114.8 115.4 116.5 117.2 119.7 119.0 3.1 New Zealand - Nouvelle-Zélande 104.5 107.5 110.0 108.1 107.6 107.7 108.7 108.7 110.0 112.4 114.8 116.3 115.1 4.6 Austria - Autriche 98.6 99.7.1 99.3 99.9.1 99.9 99.9.3.7 101.0 101.4 101.8 1.5 Belgium - Belgique 102.8 105.1 108.0 104.8 105.4 105.8 106.8 107.8 108.3 108.8 109.6 110.4 112.0 3.4 Czech Republic - République tchèque 103.8 108.5 113.1 107.6 109.3 110.8 112.1 113.0 113.8 113.3 111.7 110.6 108.8-4.4 Denmark - Danemark 102.7 104.9 106.0 106.2 104.5 105.6 105.4 105.7 106.2 106.0 106.0 106.0 106.3 106.0 106.5 0.5 Finland - Finlande 102.4 106.3 107.5 109.8 106.0 106.4 107.0 106.8 107.5 107.8 108.4 109.2 109.6 110.0 110.4 1.9 France 103.0 107.8 110.4 113.3 107.5 108.3 109.2 109.4 109.7 110.8 111.8 112.3 113.2 113.4 114.1 2.0 Germany - Allemagne 101.0 102.9 103.1 103.5 102.7 102.9 104.0 102.5 103.2 103.3 103.3 103.2 103.3 104.0 103.3 0.0 Greece - Grèce 96.9 102.0 99.5.9 101.3 102.5 102.6 99.2 98.6.3.1.2.1 101.8 101.6 1.5 Ireland - Irlande 111.3 120.6 123.8 117.7 119.3 118.7 120.2 120.1 121.6 121.9 123.1 123.9 124.5 2.4 Italy - Italie 103.9 105.9 108.3 105.7 106.1 106.6 107.4 107.7 108.7 109.3 108.5 109.0 108.5-0.2 Netherlands - Pays-Bas 104.8 108.6 110.6 110.8 108.9 109.2 109.2 109.6 110.3 110.8 111.7 110.4 110.5 110.8 111.3-0.3 Norway - Norvège 105.8 109.7 111.2 109.2 110.2 110.4 110.7 111.5 111.4 111.5 112.2 113.3 113.2 1.6 Portugal 103.3 105.7 105.3 105.8 105.9 105.8 105.5 105.3 105.1 105.2 105.5 105.9 106.4 1.2 Spain - Espagne 103.5 107.8 112.0 117.5 107.4 108.2 109.3 110.5 111.2 112.3 113.9 115.6 116.5 117.7 120.1 5.4 Sweden - Suède.9 103.2 104.0 103.3 103.4 103.5 103.6 103.8 104.3 104.3 104.5 104.6 104.5 0.2 Switzerland - Suisse 104.2 107.5 109.0 110.3 107.0 108.4 108.3 108.2 108.8 109.4 109.8 110.3 110.5 110.1 110.4 0.6 United Kingdom - Royaume-Uni 102.6 106.5 110.1 115.2 105.5 106.5 107.0 108.1 108.9 110.6 112.9 113.7 114.5 115.9 116.8 3.5 OECD-Total - OCDE-Total (1) 102.6 106.1 108.4 105.7 106.4 107.2 107.3 108.3 108.7 109.4 109.8 110.3 110.8 1.9 Major seven - Sept grands (1) 102.9 106.4 108.8 106.0 106.6 107.6 107.7 108.8 109.1 109.8 110.3 110.8 111.4 2.0 OECD-Europe - OCDE-Europe (1) 102.3 105.6 107.4 105.2 105.8 106.4 106.5 107.0 107.7 108.5 108.7 109.2 109.7 1.9 EU15 - UE15 (1) 102.6 105.8 107.8 105.4 106.0 106.7 106.8 107.3 108.1 109.0 109.2 109.7 110.2 2.0 Euro area - Zone euro (1 2) 102.6 105.8 107.6 105.5 106.1 106.8 106.7 107.2 107.9 108.5 108.6 109.1 109.5 1.5 (1) Area totals include all OECD member countries. Data for countries not shown in the above table are estimated by the Secretariat and used in the zone calculations. Weights used for calculating aggregate indices are based on the 2000 GDP Purchasing Power parity. See explanatory notes for more details. (2) OECD calculation, see Treatment of Euro area statistics in the explanatory notes. (1) Les données incluent tous les pays membres de l OCDE. Les données des pays absents du tableau sont estimées par le Secrétariat et sont intégrées aux calculs.pour le calcul des indices agrégés, la pondération est basée sur les parités de pouvoir d achat (PPA) du PIB en 2000. Pour plus de détails, voir les notes explicatives. (2) Calcul OCDE, voir le Traitement des statistiques pour la Zone euro dans les notes explicatives. 8 % GOVERNMENT CONSUMPTION (volume) 4-quarter rate of change % 8 6 6 4 4 2 0-2 2 0-4 -2-6 CAN MEX USA AUS JPN KOR NZL AUT BEL CZE DNK FIN FRA DEU GRC IRL ITA NLD NOR PRT ESP SWE CHE GBR -4 Q3 04 EU15 Japan USA March 2005 4 mars 2005
NATIONAL ACCOUNTS (Volume) COMPTES NATIONAUX (Volume) GROSS FIXED CAPITAL FORMATION FORMATION BRUTE DE CAPITAL FIXE 2002 2003 2004 4-quarter rate of change 2001 2002 2003 2004 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Variation sur 4 trimestres 2000 =, sa 2000 =, cvs Canada 104.1 106.6 111.8 118.8 106.1 107.9 107.3 109.2 109.9 113.3 114.8 116.6 117.8 119.3 121.5 5.8 Mexico - Mexique 94.4 93.4 93.0 94.3 92.5 92.8 91.9 93.2 93.2 93.6 96.1 98.5 101.1 8.4 United States - États-Unis 98.3 95.2 99.5 108.4 95.0 95.2 94.9 95.5 97.7 101.3 103.4 104.6 107.8 109.3 111.7 8.0 Australia - Australie 99.6 115.6 124.7 132.6 114.5 116.3 123.3 121.8 121.5 125.4 130.4 129.1 132.1 132.8 136.0 4.3 Japan - Japon 98.6 93.0 93.8 95.5 92.7 92.9 92.8 92.0 94.0 93.9 95.8 96.3 95.0 95.0 95.5-0.3 Korea - Corée 99.8 106.4 110.3 105.3 105.4 109.6 109.5 109.5 108.8 112.2 111.5 114.4 112.3 3.3 New Zealand - Nouvelle-Zélande.9 111.8 123.8 106.3 112.8 114.7 117.9 121.2 126.1 127.3 138.7 139.8 141.3 12.0 Austria - Autriche 97.9 94.5.4 95.3 94.5 95.3 97.2 98.9.3 101.4 101.7 102.2 103.2 2.9 Belgium - Belgique.3 96.6 95.8 95.8 94.9 96.7 97.9 97.1 95.3 93.8 98.5 96.8 103.3 8.5 Czech Republic - République tchèque 105.4 109.0 114.3 108.7 109.2 110.1 111.3 112.7 115.4 117.7 121.2 124.2 126.9 9.9 Denmark - Danemark 104.9 109.6 110.1 115.1 110.2 108.9 108.5 108.7 105.6 110.9 114.9 110.2 114.1 117.7 118.5 3.1 Finland - Finlande 103.9.7 99.2 103.8.9.7 99.8 98.6 97.8 99.8.3 101.8 103.8 104.0 104.9 4.6 France 102.1.1.4 104.0.4.2 99.4 99.3 99.6.7 102.2 102.7 104.1 103.6 104.6 2.3 Ireland - Irlande 98.4 101.4 104.8 99.5 101.9 101.0 95.1 98.2 105.1 121.0 106.6 113.0 109.3 3.9 Germany - Allemagne 95.8 89.6 87.6 86.9 89.7 89.0 88.7 88.1 87.6 87.4 88.5 85.7 85.6 86.2 86.4-2.4 Italy - Italie 101.9 103.1.9.5 103.2 108.0 101.5 101.0.8.5 102.9 103.9 103.2 2.4 Netherlands - Pays-Bas.2 96.6 93.6 95.2 97.6 95.5 93.0 93.4 93.0 93.5 94.6 96.2 94.7 93.9 95.8 1.3 Norway - Norvège 99.3 98.3 96.4 99.0 98.6 101.1 98.5 98.3 97.5 91.2 99.6 101.4 105.9 8.7 Portugal.8 95.6 86.2 98.3 94.2 90.7 86.6 85.9 87.0 85.3 86.8 88.6 88.4 1.6 Spain - Espagne 103.0 104.7 108.0 113.0 103.1 104.8 107.2 107.2 106.8 108.0 110.0 110.1 111.1 114.3 116.6 6.0 Sweden - Suède 99.0 96.4 94.9 97.8 96.4 96.0 96.9 93.9 94.0 94.9 96.8 99.3 101.4 7.9 Switzerland - Suisse 96.9 97.2 96.8.2 98.4 97.4 96.1 96.7 94.1 96.7 99.0 98.6.5 101.1 99.6 0.6 United Kingdom - Royaume-Uni 102.6 105.4 107.7 114.1 104.6 106.6 108.2 106.0 107.3 107.8 109.7 111.7 113.7 114.7 116.3 6.0 OECD-Total - OCDE-Total (1) 98.7 96.9 99.2 96.6 96.9 97.4 97.0 98.2 99.9 101.7 102.6 104.4 105.4 5.5 Major seven - Sept grands (1) 99.1 96.1 98.2 95.7 96.2 96.3 95.8 97.3 99.2.9 101.6 103.2 103.9 4.8 OECD-Europe - OCDE-Europe (1) 98.9 97.6 98.0 97.2 97.6 98.4 97.2 97.3 98.1 99.6.4 101.7 103.0 5.0 EU15 - UE15 (1).5 99.1 99.1 98.6 99.1 99.9 98.6 98.6 99.2.5.6 101.5 102.2 3.0 Euro area - Zone euro (1 2).2 98.0 97.7 97.5 97.8 98.6 97.3 97.2 97.7 98.9 98.8 99.4.0 2.3 (1) Area totals include all OECD member countries. Data for countries not shown in the above table are estimated by the Secretariat and used in the zone calculations. Weights used for calculating aggregate indices are based on the 2000 GDP Purchasing Power parity. See explanatory notes for more details. (2) OECD calculation, see Treatment of Euro area statistics in the explanatory notes. (1) Les données incluent tous les pays membres de l OCDE. Les données des pays absents du tableau sont estimées par le Secrétariat et sont intégrées aux calculs.pour le calcul des indices agrégés, la pondération est basée sur les parités de pouvoir d achat (PPA) du PIB en 2000. Pour plus de détails, voir les notes explicatives. (2) Calcul OCDE, voir le Traitement des statistiques pour la Zone euro dans les notes explicatives. % 18 16 14 12 10 8 6 4 2 0-2 -4 GROSS FIXED CAPITAL FORMATION (volume) 4-quarter rate of change % 12 10 8 6 4 2 0-2 -4-6 -8-6 CAN MEX USA AUS JPN KOR NZL AUT BEL CZE DNK FIN FRA DEU IRL ITA NLD NOR PRT ESP SWE CHE GBR -10 Q3 04 EU15 Japan USA March 2005 5 mars 2005
NATIONAL ACCOUNTS (Volume) COMPTES NATIONAUX (Volume) EXPORTS OF GOODS AND SERVICES EXPORTATIONS DE BIENS ET SERVICES 2002 2003 2004 4-quarter rate of change 2001 2002 2003 2004 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Variation sur 4 trimestres 2000 =, sa 2000 =, cvs Canada 97.2 98.3 95.9.6 98.1 99.8 97.7 96.5 95.3 94.8 97.0 98.2 102.3 101.4.5 3.6 Mexico - Mexique 96.2 97.6 98.7 96.4 99.9 97.9 96.0 97.1 99.2 102.4 106.1 110.9 111.2 12.1 United States - États-Unis 94.6 92.3 94.1 102.1 92.8 93.5 92.5 92.2 91.8 94.3 98.2 99.9 101.7 103.2 103.8 5.7 Australia - Australie 101.8 101.9 99.4 103.5 102.2 101.6 102.5 101.6 96.7 98.2 101.9 102.7 105.8 102.1 103.5 1.5 Japan - Japon 94.0.8 110.0 125.8 101.4 101.4 105.1 106.2 106.8 110.5 116.2 121.7 126.0 126.8 128.4 10.5 Korea - Corée 97.3 110.2 127.5 109.4 112.0 116.7 118.1 118.9 129.2 143.0 150.0 151.6 152.2 17.8 New Zealand - Nouvelle-Zélande 102.6 108.9 110.9 109.8 110.1 112.2 112.5 108.4 109.8 113.2 117.4 119.8 113.0 2.8 Austria - Autriche 106.8 110.9 112.4 111.2 111.0 111.1 111.1 111.2 113.1 115.4 117.8 120.9 123.5 9.2 Belgium - Belgique 101.3 102.8 104.6 103.5 103.8 104.5 103.6 104.7 104.6 106.0 106.4 107.4 113.5 8.5 Czech Republic - République tchèque 111.5 113.9 122.2 112.6 112.1 115.4 120.7 118.8 122.9 126.3 133.4 149.8 151.2 23.0 Denmark - Danemark 104.4 109.3 107.6 111.7 108.4 110.1 109.6 108.2 107.2 107.4 107.5 108.8 114.2 111.6 112.0 4.2 Finland - Finlande 99.2 104.2 105.7 109.4 105.7 104.1 105.5 103.8 107.2 106.0 105.4 109.1 104.3 110.3 113.2 7.4 France 101.7 103.6.8 104.7 104.7 104.7 103.5 101.3 99.9.8 102.3 102.9 104.0 104.5 105.9 3.5 Germany - Allemagne 105.7 110.0 112.0 121.7 109.2 111.7 113.4 112.4 109.3 113.4 114.2 118.4 122.3 120.4 121.7 6.6 Greece - Grèce 99.0 91.3 92.2 95.3 90.4 92.4 92.6 89.5 90.8 94.8 93.9 83.7 96.2 102.3 98.9 5.3 Ireland - Irlande 108.4 114.5 113.6 115.7 114.4 109.4 109.5 112.3 113.8 119.1 114.6 119.4 118.5 4.1 Italy - Italie 101.6 98.2 94.3 98.2 98.4 98.1 91.9 92.3 98.6 94.6 93.4 97.0 101.7 3.1 Netherlands - Pays-Bas 101.6 102.5 102.4 109.8 102.6 103.8 102.6 102.3 101.2 102.3 104.0 104.9 109.4 110.8 114.2 9.9 Norway - Norvège 105.0 104.2 105.8 105.3 104.4 104.4 102.6 106.6 105.3 109.1 107.6 108.1 107.0 1.6 Portugal 101.4 103.5 107.6 105.2 104.7 103.1 107.4 106.0 108.7 108.3 113.0 115.4 113.6 4.5 Spain - Espagne 103.6 104.9 107.7 112.5 104.0 107.7 107.3 102.5 108.0 111.1 109.0 108.1 111.6 115.7 114.7 5.2 Sweden - Suède.5 101.7 106.8 101.4 101.4 101.1 103.2 105.2 108.5 109.5 112.6 117.6 117.7 8.5 Switzerland - Suisse.2.1.1 106.7 102.0.9 99.8 97.3 98.4.8 103.6 106.0 105.9 107.1 107.6 3.9 United Kingdom - Royaume-Uni 102.9 103.0 103.9 106.6 106.1 104.6 99.6 104.9 102.6 102.5 105.5 103.8 106.0 107.2 109.3 3.6 OECD-Total - OCDE-Total (1).5 102.4 105.1 102.6 103.6 103.5 103.1 103.0 105.8 108.5 110.4 113.6 114.8 8.4 Major seven - Sept grands (1) 99.3.1.9.6 101.3.7.1 98.9 101.5 103.6 105.2 108.0 108.8 7.2 OECD-Europe - OCDE-Europe (1) 103.5 105.5 107.4 105.7 106.5 106.3 105.9 105.9 108.5 109.7 110.9 114.3 115.9 6.8 EU15 - UE15 (1) 103.1 104.6 104.9 105.0 105.8 105.0 104.0 103.5 105.9 106.5 107.2 110.3 111.8 5.5 Euro area - Zone euro (1 2) 103.2 104.8 104.9 104.9 106.0 105.9 103.8 103.5 106.3 106.5 107.5 110.6 112.2 5.6 (1) Area totals include all OECD member countries. Data for countries not shown in the above table are estimated by the Secretariat and used in the zone calculations. Weights used for calculating aggregate indices are based on the 2000 GDP Purchasing Power parity. See explanatory notes for more details. (2) OECD calculation, see Treatment of Euro area statistics in the explanatory notes. (1) Les données incluent tous les pays membres de l OCDE. Les données des pays absents du tableau sont estimées par le Secrétariat et sont intégrées aux calculs.pour le calcul des indices agrégés, la pondération est basée sur les parités de pouvoir d achat (PPA) du PIB en 2000. Pour plus de détails, voir les notes explicatives. (2) Calcul OCDE, voir le Traitement des statistiques pour la Zone euro dans les notes explicatives. % 28 24 20 16 12 8 4 0-4 CAN MEX USA AUS JPN KOR NZL AUT EXPORTS OF GOODS AND SERVICES (volume) 4-quarter rate of change BEL CZE DNK FIN FRA DEU GRC IRL ITA NLD NOR PRT ESP SWE CHE GBR % 20 18 16 14 12 10 8 6 4 2 0-2 -4-6 -8-10 -12-14 Q3 04 EU15 Japan USA March 2005 6 mars 2005
NATIONAL ACCOUNTS (Volume) COMPTES NATIONAUX (Volume) IMPORTS OF GOODS AND SERVICES IMPORTATIONS DE BIENS ET SERVICES 2002 2003 2004 4-quarter rate of change 2001 2002 2003 2004 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Variation sur 4 trimestres 2000 =, sa 2000 =, cvs Canada 95.0 96.4.1 108.2 96.7 98.7 98.1 98.8 99.6 98.9 103.0 104.1 106.5 110.1 112.3 9.1 Mexico - Mexique 98.4 99.8 98.8.9.5 99.9 96.9 97.5 99.1 101.7 105.2 108.2 109.7 10.8 United States - États-Unis 97.3.6 105.0 115.5.0 101.3 103.7 103.2 103.8 104.5 108.7 111.5 114.9 116.2 119.3 9.8 Australia - Australie 95.8 106.7 117.8 134.5 104.7 106.6 113.4 114.0 115.1 118.5 122.8 130.7 132.6 134.6 138.9 13.1 Japan - Japon 99.3.6 104.4 113.9 99.6 102.5 103.5 104.6 102.0 104.4 106.4 110.0 112.2 114.9 118.5 11.3 Korea - Corée 95.8 110.4 121.1 109.5 114.1 116.4 115.9 115.4 123.0 129.0 129.9 139.2 137.7 11.9 New Zealand - Nouvelle-Zélande 102.0 111.5 120.6 106.5 112.5 114.8 113.9 118.5 121.6 127.1 134.4 139.3 139.1 14.4 Austria - Autriche 105.0 104.8 109.9 104.6 105.0 105.9 107.1 108.1 109.9 111.7 112.8 114.2 115.8 5.4 Belgium - Belgique 101.0 102.0 104.3 101.8 103.3 104.7 102.9 103.0 104.6 106.4 107.1 107.0 115.7 10.5 Czech Republic - République tchèque 113.0 118.5 128.0 115.0 119.2 122.6 124.0 123.5 129.9 134.4 138.3 155.3 155.3 19.6 Denmark - Danemark 103.5 111.0 109.4 117.7 111.2 112.3 110.7 110.0 107.8 108.2 111.5 111.7 118.0 121.3 120.1 7.7 Finland - Finlande.2 102.1 104.9 109.9 102.3 103.4 101.6 104.3 103.9 104.6 107.6 106.6 109.3 110.6 113.5 5.5 France 101.4 104.8 104.5 113.3 105.1 105.9 105.1 104.8 104.3 104.2 107.1 108.3 112.3 114.9 116.1 8.5 Germany - Allemagne 101.0 99.4 103.4 109.9 99.3.7 102.4 104.3 101.8 102.8 105.5 106.0 108.2 111.4 111.2 5.4 Greece - Grèce 94.8 92.1 96.5 99.9 91.1 93.2 93.4 93.3 93.5 98.0 101.2 94.0 97.3 103.8 104.3 3.1 Ireland - Irlande 106.7 110.3 107.8 114.7 108.9 103.0 101.6 104.6 110.2 115.0 102.8 111.0 110.5 0.3 Italy - Italie.5.3 99.6 99.6 99.4 103.4 97.9 99.0 101.7 99.9.1 102.0 103.3 1.6 Netherlands - Pays-Bas 102.2 103.1 103.7 110.7 103.2 104.8 103.2 103.0 102.8 103.4 105.8 105.9 109.9 111.6 115.5 9.3 Norway - Norvège.9 101.7 103.9 103.5.1 103.0 104.3 103.5 102.7 105.1 108.9 111.3 115.8 12.7 Portugal 101.1.9.0 101.8 102.4 99.0 98.3 97.8 102.5 101.2 104.1 107.2 109.1 6.5 Spain - Espagne 103.9 107.1 112.2 122.3 105.6 106.5 111.2 108.2 110.6 114.9 115.4 116.8 119.7 125.8 127.1 10.2 Sweden - Suède 97.4 95.6.2 94.1 94.2 96.7 98.1 99.2.6 102.7 102.8 106.8 108.9 8.2 Switzerland - Suisse 103.2.3 101.7 107.3 105.0.4 99.0 99.7 99.4 101.8 105.3 104.0 107.1 109.5 108.2 2.8 United Kingdom - Royaume-Uni 104.9 109.1 111.1 116.8 110.1 110.6 109.1 111.9 108.6 110.3 113.7 114.0 115.5 117.7 120.1 5.6 OECD-Total - OCDE-Total (1) 99.5 102.3 106.3 102.0 103.3 104.6 104.6 104.6 106.6 109.6 111.3 114.8 117.1 9.9 Major seven - Sept grands (1) 99.4 101.4 104.4 101.2 102.4 103.7 103.7 103.1 104.1 107.0 108.7 111.4 113.5 9.1 OECD-Europe - OCDE-Europe (1) 101.2 103.0 106.6 102.9 103.7 104.8 105.1 104.9 107.1 109.4 110.3 113.7 116.7 8.9 EU15 - UE15 (1) 102.0 103.2 105.1 103.2 103.8 104.5 104.3 103.7 105.4 107.4 107.5 110.2 113.2 7.4 Euro area - Zone euro (1 2) 101.6 102.3 104.2 102.2 102.9 103.9 103.1 102.9 104.7 106.4 106.5 109.2 112.4 7.4 (1) Area totals include all OECD member countries. Data for countries not shown in the above table are estimated by the Secretariat and used in the zone calculations. Weights used for calculating aggregate indices are based on the 2000 GDP Purchasing Power parity. See explanatory notes for more details. (2) OECD calculation, see Treatment of Euro area statistics in the explanatory notes. (1) Les données incluent tous les pays membres de l OCDE. Les données des pays absents du tableau sont estimées par le Secrétariat et sont intégrées aux calculs.pour le calcul des indices agrégés, la pondération est basée sur les parités de pouvoir d achat (PPA) du PIB en 2000. Pour plus de détails, voir les notes explicatives. (2) Calcul OCDE, voir le Traitement des statistiques pour la Zone euro dans les notes explicatives. % 28 24 20 16 12 8 4 0 IMPORTS OF GOODS AND SERVICES (volume) 4-quarter rate of change % 16 14 12 10 8 6 4 2 0-2 -4-6 -8-4 CAN MEX USA AUS JPN KOR NZL AUT BEL CZE DNK FIN FRA DEU GRC IRL ITA NLD NOR PRT ESP SWE CHE GBR -10 Q3 04 EU15 Japan USA March 2005 7 mars 2005
INDUSTRIAL PRODUCTION PRODUCTION INDUSTRIELLE Weight in 2000 2004 2004 2005 Pondération en 2000 12-month rate of change 2002 2003 2004 Q1 Q2 Q3 Q4 Jul Aug Sep Oct Nov Dec Jan Variation sur 12 mois 2000 =, sa 2000 =, cvs Canada 4.1 97.5 98.3 101.7 99.8 101.2 102.7 103.3 102.2 103.0 102.8 102.8 103.4 103.8 3.6 Mexico - Mexique (1) 3.3 96.4 96.3.0 98.1 99.6.2.9.0.1.6.7.6 101.4 3.6 United States - États-Unis 31.5 96.2 96.1.1 98.7 99.8.4 101.4.5.6.3 101.1 101.3 101.9 102.0 3.9 Australia - Australie 1.6 103.3 103.8 103.5 103.4 104.9 103.4 103.8-0.4 Japan - Japon (2) 14.5 92.6 95.4.5 99.0 101.5.9.1 101.1.9.7 99.4 101.0.0 102.4 1.0 Korea - Corée (2) 4.4 108.8 114.2 126.1 124.4 125.7 125.3 127.9 124.9 124.6 126.5 127.3 128.7 127.7 131.6 7.1 New Zealand - Nouvelle-Zélande 0.3 104 105 110 109 110 4.0 Austria - Autriche 0.9 103.6 105.6 112.0 106.8 110.9 114.1 115.5 112.3 115.6 114.3 112.9 117.8 115.7 7.9 Belgium - Belgique 1.0.2 101.0 104.0 103.4 103.9 106.1 105.6 105.8 105.9 106.6 105.7 106.0 105.0 0.7 Czech Republic - République tchèque (2) 0.7 116.6 123.4 135.6 130.0 136.0 135.9 138.8 138.1 134.2 135.3 139.6 137.8 139.1 8.5 Denmark - Danemark 0.5 103.0 103.2 103.2 103.3 104.6 102.9 101.9 104.3 101.2 103.3.0 101.7 103.9 102.9-1.4 Finland - Finlande 0.6 102.0 103.2 107.6 105.6 107.0 108.9 109.5 109.1 108.8 108.8 109.0 108.0 111.4 106.8 1.1 France 5.0 99.6 99.0 101.3.2.9.8 101.6.9 99.3 102.1 101.1 101.4 102.1 2.1 Germany - Allemagne 8.3 99.2 99.6 102.5 101.4 102.9 103.1 103.6 102.9 102.9 103.3 101.8 0.1 Greece - Grèce 0.4 99.0 99.3.2 98.8 101.2.8 99.1 102.5 99.1.8 98.4 99.9 99.0-1.5 Hungary - Hongrie (2) 0.5 106.4 113.2 122.6 120.4 121.6 121.8 123.6 122.1 120.2 123.0 125.0 125.3 120.4-1.1 Ireland - Irlande 0.6 118.5 124.3 125.4 124.3 124.3 126.6 127.5 139.7 117.6 122.7 127.9 122.3 132.3 0.6 Italy - Italie 5.4 97.5 96.9 96.5 97.0 97.2 96.7 95.3 97.1 96.4 96.7 96.2 95.2 94.6-3.0 Luxembourg 0.0 105.2 110.7 117.8 116.5 117.2 120.1 117.6 119.1 121.3 119.9 119.5 116.1 117.2 6.0 Netherlands - Pays-Bas 1.4.1 97.7 99.9 101.1 99.2 99.8 99.4.3 99.3 99.8 98.5.1 99.6 3.1 Norway - Norvège 1.0 99.7 95.6 97.4 98.9.2 94.2 96.4 96.0 90.9 95.8 98.4 96.9 93.9 94.5-3.9 Poland - Pologne 1.5 101.8 110.7 124.8 122.6 126.4 123.8 124.8 123.7 123.3 124.5 124.3 125.2 124.8 129.9 6.7 Portugal 0.6 102.7 102.6.2.7 101.2 99.8 99.1 99.8 98.1 101.4 94.6.5 102.1 96.9-2.3 Slovak Republic - République slovaque 0.3 113.6 119.5 124.3 124.7 124.6 124.3 123.6 122.0 124.9 126.0 122.7 125.0 122.9 127.7 5.6 Spain - Espagne 2.8 98.7.1 101.6 101.1 101.8 102.0 101.5 101.7 101.8 102.4.5 102.4 101.7 101.6 1.5 Sweden - Suède (3 4) 0.9 98.8.8 106.4 105.5 107.4 105.8 105.8 103.5 106.7 107.3 108.7 106.1 102.7-2.2 Switzerland - Suisse 0.7 94 94 98 99 98 4.5 Turkey - Turquie 1.9 102.4 111.3 122.2 119.2 126.2 123.0 120.2 120.7 119.6 115.9 115.8 116.8 123.4 3.0 United Kingdom - Royaume-Uni 5.4 96.0 95.8 96.3 95.9 97.2 96.0 95.9 96.8 95.7 95.5 95.5 96.0 96.3 96.2 0.1 OECD-Total - OCDE-Total (5).0 97.9 99.0 102.9 101.6 103.1 103.1 103.4 103.3 102.9 103.1 103.1 103.4 103.6 2.5 Major seven - Sept grands (5) 74.2 96.2 96.7.1 98.9.2.4.5.6.3.3.3.6.6 2.3 OECD-Europe - OCDE-Europe (5) 40.4 99.8.9 103.8 102.8 104.1 103.7 103.5 104.3 103.2 103.8 103.5 103.5 103.6 1.0 EU15 - UE15 (5) 35.3 99.1 99.3 101.0.4 101.3 101.3.8 101.7.7 101.4.9.8.7 0.4 Euro area - Zone euro (5 6) 28.5 99.6 99.8 101.7 101.1 101.9 102.1 101.6 102.6 101.4 102.3 101.7 101.6 101.5 0.4 Note: Industrial production refers to the goods produced by establishments engaged in mining (including oil extraction), manufacturing, and production of electricity, gas and water. These are categories C, D and E of the International Standard Industrial Classification of All Economic Activities (ISIC Rev.3). Note: La production industrielle désigne les biens produits par les établissements qui se consacrent à des activités extractives (y compris l extraction de pétrole), à des activités manufacturières, et à la production d électricité, de gaz et d eau. Ceci correspond aux catégories C, D et E de la Classification Internationale Type, par Industries, de toutes les branches d activité économiques (CITI Rev.3). (1) Including construction. (2) Not adjusted for unequal number of working days in the month. (3) Mining and manufacturing. (4) Annual figures correspond to official annual figures and differ from the average of the monthly figures. (5) Weights for calculating aggregate indices are derived from gross domestic product originating in industry and the GDP purchasing power parity for 2000. (6) OECD calculation, see Treatment of Euro area statistics in the explanatory notes. (1) Y compris la construction. (2) Non corrigé de l inégalité du nombre de jours ouvrables dans le mois. (3) Industries extractives et manufacturières. (4) Les données annuelles sont les données officielles et diffèrent des moyennes mensuelles. (5) Pour le calcul des indices agrégés, la pondération est basée sur le produit intérieur brut, ayant pour origine l industrie, et la parité de pouvoir d achat du PIB de 2000. (6) Calcul OCDE, voir le Traitement des statistiques pour la Zone euro dans les notes explicatives. % 15 INDUSTRIAL PRODUCTION 12-month rate of change % 12 10 8 5 4 0 0-4 -5-8 -10-12 -15 CAN MEX USA AUS JPN KOR AUT BEL CZE DNK FIN FRA GRC HUN IRL ITA LUX NLD NOR POL PRT SVK ESP SWE TUR GBR -16 Dec 04 OECD-Total EU15 Japan USA March 2005 8 mars 2005
COMPOSITE LEADING INDICATORS INDICATEURS COMPOSITES AVANCÉS 2004 2005 2004 2005 Jun Jul Aug Sep Oct Nov Dec Jan Jun Jul Aug Sep Oct Nov Dec Jan Trend restored - Tendance réincorporée 6-month rate of change - Variation sur 6 mois Canada 102.0 102.0 101.7 101.5 101.2.6.3.5 3.2 2.3 1.1 0.2-0.7-2.0-2.6-2.2 Mexico - Mexique 104.1 104.6 104.6 105.5 104.9 105.9 108.5 111.3 0.6 1.2 0.6 1.9 0.2 1.6 5.7 10.1 United States - États-Unis 102.3 102.4 102.4 102.1 101.8 102.2 102.6 103.2 4.9 3.9 2.8 1.4 0.1 0.4 1.0 1.9 Australia - Australie 106.7 106.8 107.0 107.2 107.8 108.5 109.1 2.9 2.7 2.7 2.8 3.4 4.2 4.6 Japan - Japon 98.6 98.6 98.4 98.3 98.6 99.1 99.3 99.3 1.1 0.8 0.3 0.0 0.4 1.2 1.5 1.3 Austria - Autriche 117.2 117.8 117.9 118.3 118.6 118.5 118.8 119.7 7.7 7.2 6.1 5.5 5.1 4.0 3.7 4.4 Belgium - Belgique 104.6 105.0 105.1 105.0 104.7 104.7 104.1 103.6 5.9 5.3 4.4 3.1 1.8 1.2-0.3-1.3 Denmark - Danemark 114.2 115.4 116.4 117.0 117.5 118.1 118.9 120.3 11.3 11.9 12.0 11.4 10.7 10.1 9.8 10.2 Finland - Finlande 98.2 98.6 98.5 98.5 98.3 98.5 98.7 99.0 5.0 4.9 4.1 3.2 2.3 2.1 2.0 2.0 France 105.5 105.7 105.9 106.2 106.2 105.8 105.5 105.2 5.4 4.7 4.1 3.7 3.1 1.7 0.6-0.2 Germany - Allemagne 107.8 107.9 108.1 108.1 107.9 108.4 108.5 108.5 5.2 4.3 3.7 2.9 1.8 2.2 1.9 1.5 Greece - Grèce 104.1 103.2 102.3 102.0 102.0 102.2 102.9 0.3-1.8-3.5-4.0-3.7-3.0-1.6 Ireland - Irlande 142.2 143.7 143.7 145.4 146.3 146.7 145.5 145.5 13.6 13.2 10.8 11.1 10.5 9.2 6.1 4.8 Italy - Italie 97.7 97.7 97.7 98.1 98.4 98.4 98.3 98.0-1.5-1.6-1.6-0.9-0.2 0.0-0.2-0.5 Luxembourg 118.8 119.3 119.6 119.4 118.8 119.2 118.7 118.4 11.0 9.2 7.6 5.3 2.9 2.7 1.2 0.2 Netherlands - Pays-Bas 102.2 102.5 102.4 102.4 102.3 102.5 102.7 102.8 5.2 4.7 3.6 2.7 2.0 1.7 1.7 1.6 Norway - Norvège 104.3 105.2 106.2 106.7 107.7 109.2 111.1 113.0 3.8 4.4 5.3 5.2 5.9 7.7 10.1 12.2 Portugal 94.4 95.0 94.2 93.9 93.9 94.2 93.9 93.5 1.8 2.7 0.7 0.1 0.1 0.7 0.2-0.7 Spain - Espagne 104.9 104.6 105.0 105.5 106.3 106.7 107.1 106.7 1.1 0.3 0.8 1.4 2.7 3.0 3.4 2.3 Sweden - Suède 114.8 115.5 116.2 116.8 117.1 117.7 118.3 8.1 7.9 7.9 7.6 6.6 6.2 6.0 Switzerland - Suisse 106.3 106.6 106.7 106.7 106.5 107.1 106.5 106.8 3.8 3.3 2.8 2.1 1.2 1.9 0.4 0.6 Turkey - Turquie 111.4 111.8 111.6 111.5 111.6 112.1 112.9 113.4 3.2 3.2 2.2 1.4 1.1 1.6 2.4 2.9 United Kingdom - Royaume-Uni 101.1.8.7 101.1 101.6 101.3.9.7 1.0 0.1-0.3 0.2 0.8 0.1-0.8-1.2 OECD-Total - OCDE-Total 103.1 103.2 103.2 103.2 103.2 103.5 103.8 104.1 3.5 2.9 2.2 1.5 1.0 1.2 1.5 1.8 Major seven - Sept grands 102.0 102.1 102.0 101.9 101.9 102.1 102.3 102.5 3.4 2.7 1.9 1.1 0.6 0.7 0.8 1.0 OECD-Europe - OCDE-Europe 105.2 105.4 105.5 105.7 105.9 106.1 106.1 106.1 3.5 2.9 2.5 2.3 2.1 2.0 1.7 1.3 EU15 - UE15 104.9 105.0 105.1 105.4 105.6 105.7 105.6 105.5 3.5 2.9 2.4 2.3 2.1 1.9 1.4 0.9 Euro area - Zone euro 105.2 105.3 105.4 105.6 105.7 105.9 105.9 105.7 3.7 3.1 2.6 2.3 2.0 1.9 1.5 1.0 Note: The lists of turning points used in the calculation of the CLIs were last updated in December 2003 for Major Seven countries, and in December 2002 for all other countries with the exception of Spain (turning points were updated in 2001), Mexico, Greece, Luxembourg and Switzerland. In conjunction with these updates some component series have been dropped or replaced to improve the overall timeliness of the CLIs. More information can be found at http://www.oecd.org/std/cli. OECD Composite Leading Indicators (CLIs) are designed to predict cyclical turning points (peaks and troughs) in aggregate economic activity. The CLIs comprise a set of component series from a wide range of economic indicators. The CLIs shown above are in trend restored form (OECD CLIs are originally compiled without trend) so that their long-run movements can be directly compared with the indices of industrial production shown in the previous table. A useful way to exploit the information in CLIs is to take their 6-month rate of change (annualised). As the graphs below show, CLIs provide early signals for the turning points of the reference series, e.g. a peak for March 1998 in Euro area reference series was predicted by the CLI,6 months in advance (i.e. -6). For further information on the compilation of the OECD CLIs, the latest CLI updates and examples of analyses using OECD CLIs, refer to the Explanatory Notes at the back of this publication or the OECD website at http://www.oecd.org/std/cli. Note: Les listes de points de retournement utilisés dans le calcul des indicateurs composites avancés ont été mises à jour en décembre 2003 pour les Sept grands pays, et en décembre 2002 pour les autres pays à l exception de l Espagne (les points de retournement ont été mis à jour en 2001), du Mexique, de la Grèce, du Luxembourg et de la Suisse. Conjointement, certaines séries composantes ont été supprimées ou remplacées afin d améliorer la disponibilité globale des indicateurs composites avancés. Pour plus d information, se référer à l adresse http://www.oecd.org/std/cli. Les indicateurs composites avancés de l OCDE sont construits pour prédire les points de retournement cycliques (pics et creux) dans l activité économique totale. Ces indicateurs comprennent des séries composantes provenant d un ensemble étendu d indicateurs économiques. Les données ci-dessus sont présentées sous leur forme «tendance réincorporée» (les indicateurs composites avancés de l OCDE sont à l origine calculés sans tendance) de manière à ce que leurs évolutions à long terme puissent être comparées directement avec celles de I indice de production industrielle présentées dans le tableau de la page précédente. Un moyen utile d exploiter l information des indicateurs composites avancés est de prendre leurs taux de variation sur 6 mois (annualisés). Comme le montre le graphe ci-dessous, les indicateurs composites avancés fournissent des signaux précoces de points de retournement de la série de référence. Par exemple, un pic en mars 1998 dans la série de référence de la zone Euro était prédit par l indicateur composite avancé avec 6 mois d avance (-6). Pour plus d information sur le calcul des indicateurs composites avancés de l OCDE, les dernières mises à jour et des exemples d analyses utilisant ces indicateurs, se référer à la note explicative à la fin de cette publication ou au site Internet de l OCDE à l adresse http://www.oecd.org/std/cli. (1) OECD calculation, see Treatment of Euro area statistics in the explanatory notes. (1) Calcul OCDE, voir le Traitement de la Zone euro dans les notes explicatives. 12 T Jan 1997 P Mar 1998 T Feb 1999 Euro area P Dec 2000 Composite Leading Indicators 6-month rate of change (annual rate) T P 12 Apr Oct 1996 1997 T Dec 1998 OECD - Total P Aug 2000 T Nov 2001 8-6 -15 8-8 -3 4 4 0 0-4 -4-4 -3-1 -8 T: Trough P: Peak 1996 1997 1998 1999 2000-8 T: Trough P: Peak 1996 1997 1998 1999 2000 March 2005 9 mars 2005
CONSTRUCTION / PASSENGER CARS CONSTRUCTION / VOITURES DE TOURISME 2004 2004 2005 12-month rate of change 2002 2003 2004 Q1 Q2 Q3 Q4 Jun Jul Aug Sep Oct Nov Dec Jan Variation sur 12 mois CONSTRUCTION: DWELLINGS STARTED - CONSTRUCTION : LOGEMENTS MIS EN CHANTIER 2000 =, sa 2000 =, cvs Canada 134.3 143.5 151.9 146.5 151.9 154.3 154.9 151.6 146.8 161.6 154.5 150.4 159.9 154.5 133.4 5.0 United States - États-Unis 108.7 117.7 124.1 123.5 122.0 125.2 125.7 115.5 126.2 128.3 121.1 131.3 114.7 131.1 137.2 11.6 Australia - Australie 120.9 116.6 121.4 119.3 111.2-3.7 Japan - Japon 93.6 94.3 96.7 97.2 94.7 99.4 95.5 96.8.3 96.6 101.4 96.5 93.7 96.4 105.9 6.6 Belgium - Belgique 95.2.4 113.4 109.5 106.9 118.6 115.0 116.0 89.7 96.7 102.3 1.5 Czech Republic - République tchèque 103.7 112.7 Denmark - Danemark 158.0 123.6 132.0 121.3 137.2 France 97.3.8 115.8 109.8 114.5 120.2 119.3 110.7 114.6 122.9 123.0 121.3 118.3 118.1 130.2 15.6 Norway - Norvège 96.3 96.2 126.6 98.3 146.3 122.2 139.6 153.8 129.5 134.0 103.0 152.6 136.4 129.9 14.6 Spain - Espagne 101.8 116.6 126.6 127.7 131.3 Sweden - Suède 115.1 131.5 151.7 155.3 159.4 152.5 140.3-9.2 United Kingdom - Royaume-Uni (1) 103.6 110.0 112.4 3.8 CONSTRUCTION: DWELLING PERMITS - CONSTRUCTION : PERMIS DE CONSTRUIRE (LOGEMENTS) 2000 =, sa 2000 =, cvs Korea - Corée 138.8 150.5 121.4.7 121.4 106.1 134.6 121.2 104.3 127.3 86.6 126.7 123.3 153.9 183.9 134.4 New Zealand - Nouvelle-Zélande 135.5 148.9 156.5 179.7 172.1 132.8 143.9 205.2 137.8 131.7 129.0 147.3 138.5 145.9 144.0-29.0 Finland - Finlande 88.2 103.4 102.2 99.1 95.4-11.0 Ireland - Irlande 69.2 67.2 102.4 93.3 87.2 18.7 Luxembourg 86.7 98.6 98.0 81.1 226.6 42.9 222.6 275.8 181.3 25.5 Portugal 82.5 73.2 68.0 68.0 69.2 64.3 70.5 70.0 64.0 63.2 65.7 63.5 80.0 67.9-9.5 Switzerland - Suisse 96.4 108.5 123.0 116.4 112.4 4.1 Euro area - Zone euro 94.2 103.2 112.6 112.8 111.9 112.2 110.4 113.5 111.7 111.9 111.9 3.1 PASSENGER CARS: REGISTRATIONS - VOITURES DE TOURISME : IMMATRICULATIONS 2000 =, sa 2000 =, cvs Canada (2) 110.1 101.9 96.1 94.1 98.0 95.6 96.6 95.2 98.1 97.1 91.6.5 95.2 94.0 4.1 United States - États-Unis (2) 91.5 86.0 84.6 84.1 84.4 82.8 87.2 79.7 84.8 80.8 82.8 85.1 82.9 93.7 83.7 3.2 Australia - Australie (2) 97.6 106.3 106.6 106.2 105.4 105.2 108.0 107.8 102.4 104.5 108.6 112.4 108.0 103.6 114.0 7.7 Japan - Japon 104.3 104.7 111.9 115.0 104.5 112.4 113.7 104.5 111.5 112.3 113.4 111.9 115.0 114.1 122.2 1.8 Korea - Corée 191.6 156.0 135.1 139.2 127.1 128.9 148.6 130.6 123.2 122.2 141.3 128.1 145.6 172.0 124.2-13.4 New Zealand - Nouvelle-Zélande 115.4 130.9 131.7 133.3 132.9 129.2 129.4 132.4 128.0 130.6 128.9 131.3 130.0 127.0 127.3-3.5 Austria - Autriche 90.3 97.0.6 92.3 102.4.5 112.1 110.7 99.4 98.6 103.5 94.0 109.3 132.9 88.1-2.1 Belgium - Belgique 88.9 87.1 92.0 90.3 93.1 88.2 95.1 90.7 82.0 91.1 91.7 93.8 94.3 97.2-6.0 Denmark - Danemark 98.2 84.9 107.8 95.7 101.2 110.2 121.8 105.6 104.2 108.9 117.4 118.6 125.7 121.0 134.0 35.6 Finland - Finlande 86.8 109.4 105.8 115.7 103.1 98.0 105.9 101.8 93.4 92.6 107.9 102.8 108.5 106.4 121.2-0.9 France (3).5 94.2 94.4 93.2 95.3 92.5 96.5 99.2 89.7 91.5 96.2 91.5 98.6 99.3 95.1 7.8 Germany - Allemagne 96.3 95.8 96.7 91.2 95.0 93.2 105.2 95.7 94.2 89.8 95.8 104.1 102.4 109.1 18.9 Greece - Grèce 88.9 87.7 101.7 102.2 103.7 99.7 98.9 105.6 98.0 101.2.1 93.6 111.1 92.1 116.0 8.6 Ireland - Irlande 66.8 63.5 66.5 68.7 66.5 64.7 57.5 66.6 67.0 63.4 63.7 62.3 57.3 52.9 87.9 19.7 Italy - Italie 94.1 92.7 93.4 92.0 94.9 91.3 92.6 93.9 92.9 85.0 95.8 91.4 90.6 95.7 88.8 1.4 Luxembourg.3 95.0 99.5 93.3 98.2 99.1 109.5 96.8 96.8 99.2 101.3 113.6 103.4 111.4 112.1 15.4 Netherlands - Pays-Bas 88.1 80.9 79.7 79.2 79.4 78.1 82.3 80.5 79.3 75.9 79.0 83.4 81.6 81.9 87.6 11.1 Norway - Norvège 97.7 96.0 115.1 109.1 109.3 107.7 137.3 109.6 106.6 106.3 110.0 111.3 121.8 178.7 101.0-4.8 Spain - Espagne 94.8 101.6 112.7 111.2 110.6 112.0 114.8 113.3 110.7 112.2 113.2 113.0 118.4 113.0 120.9 11.1 Sweden - Suède 82.9 86.6 87.8 83.5 89.4 86.1 89.8 90.4 86.9 84.4 86.9 89.0 88.4 92.0 89.3 6.9 Switzerland - Suisse 95.1 84.7 80.6 84.3 82.3 83.0 81.0 85.3 80.7 85.2 83.0-4.2 Turkey - Turquie 20.0 50.4 126.5 156.4 134.6 101.6 124.1 96.0 97.0 111.8 96.1 114.0 131.5 126.8 43.4 United Kingdom - Royaume-Uni (4) 114.8 113.2 111.2 130.5 107.8 121.5 85.0 123.8 96.6 44.9 223.0 88.2 90.1 76.8 92.4-9.8 Euro area - Zone euro (5) 95.1 94.0 96.0 93.9 96.2 94.1 99.9 97.5 93.7 91.4 97.0 97.6 99.6 102.5 7.7 OECD-Total - OCDE-Total (5) 99.7 96.6 97.8 97.4 96.6 96.2.9 96.8 96.2 94.6 97.7 97.9 99.3 105.3 97.4 1.9 Major seven - Sept grands (5) 98.9 95.4 95.7 95.2 94.6 94.5 98.6 94.7 95.1 92.8 95.7 96.1 96.5 103.1 94.6 1.5 OECD-Europe - OCDE-Europe (5) 96.8 96.4 98.4 97.1 98.8 96.7 102.0 101.7 96.1 95.0 98.9 98.5 101.2 106.3 5.6 EU15 - UE15 (5) 98.3 97.1 98.4 96.5 98.5 96.8 101.7 102.1 96.4 94.9 99.2 98.4.9 105.7 4.7 Note: See the Explanatory notes for more details. (1) England. (2) Retail sales of all new passenger cars. (3) Includes cars used for commercial purposes. (4) Great Britain. Not seasonally adjusted. The seasonally adjusted series has been suspended pending changes to the vehicle registration system. However, the seasonally adjusted series is still used in area total calculations, using OECD estimates from January 1999. (5) Weights for calculating aggregate indices are derived from the number of the new passenger cars registered in the base year. Note: Pour plus de détails, voir les Notes explicatives. (1) Angleterre. (2) Ventes au détail de toutes voitures de tourisme neuves. (3) Inclut les voitures à usage commercial. (4) Grande-Bretagne. Non corrigé des variations saisonnières. La série corrigée des variations saisonnières a été suspendue en raison des modifications du système d immatriculation des véhicules. Cependant, la série corrigée des variations saisonnières est toujours utilisée pour le calcul des zones, en utilisant des estimations de l OCDE à partir de janvier 1999. (5) Pour le calcul des indices agrégés, la pondération est basée sur le nombre d immatriculations de voitures de tourisme, dans l année de base. March 2005 10 mars 2005