Table 7.1
Real-time and Final Output Gaps as Yearly Averages
|
Germany |
UK |
France |
Italy |
Spain |
Netherlands |
Belgium | ||||||||
|
Final |
Real- |
Final |
Real- |
Final |
Real- |
Final |
Real- |
Final |
Real- |
Final |
Real- |
Final |
Real- | |
|
1990 |
2.47 |
1.41 |
2.70 |
0.62 |
2^38 |
0.43 |
2^15 |
0.44 |
-0.21 |
-0.58 |
Ï8Ô |
0.36 |
L44 |
0.05 |
|
1991 |
3.16 |
1.50 |
-0.86 |
-0.07 |
1.92 |
0.55 |
1.71 |
-0.62 |
0.56 |
-0.31 |
1.71 |
-0.03 |
1.10 |
-0.39 |
|
1992 |
1.80 |
-0.03 |
-3.02 |
-1.43 |
1.30 |
0.17 |
0.59 |
-1.01 |
0.14 |
-0.33 |
0.40 |
-0.37 |
0.41 |
-0.58 |
|
1993 |
-0.48 |
-1.50 |
-3.15 |
-0.91 |
-0.88 |
0.13 |
-1.93 |
-2.12 |
-0.86 |
-0.73 |
-1.26 |
-0.64 |
-2.07 |
-0.90 |
|
1994 |
-0.34 |
-1.91 |
-1.54 |
-0.52 |
-1.41 |
-0.96 |
-1.28 |
-1.45 |
0.41 |
0.34 |
-1.56 |
-0.39 |
-0.94 |
0.08 |
|
1995 |
-0.31 |
-1.10 |
-0.92 |
0.58 |
-1.47 |
-0.72 |
-0.02 |
-0.27 |
0.14 |
0.50 |
-1.41 |
0.01 |
0.81 |
0.71 |
|
1996 |
-0.94 |
-1.14 |
-0.85 |
0.50 |
-2.29 |
-0.53 |
-1.00 |
-0.30 |
-0.11 |
0.14 |
-1.21 |
0.14 |
-0.76 |
-0.03 |
|
1997 |
-0.72 |
-1.01 |
-0.37 |
0.61 |
-2.12 |
-0.74 |
-0.66 |
-0.33 |
-0.04 |
0.17 |
-0.39 |
0.29 |
0.24 |
0.35 |
|
1998 |
-0.74 |
-0.62 |
0.20 |
0.81 |
-1.06 |
-0.41 |
-0.88 |
0.07 |
-0.12 |
0.27 |
0.76 |
0.48 |
-0.38 |
0.08 |
|
1999 |
-0.30 |
-0.69 |
0.73 |
0.83 |
0.11 |
-0.02 |
-0.59 |
-0.05 |
-0.04 |
0.03 |
1.94 |
0.39 |
0.06 |
0.12 |
|
2000 |
1.48 |
0.01 |
1.66 |
1.03 |
1.83 |
0.30 |
1.63 |
0.95 |
0.28 |
0.16 |
2.80 |
0.30 |
1.33 |
0.42 |
|
2001 |
1.52 |
0.19 |
1.28 |
0.91 |
1.81 |
0.99 |
1.94 |
0.88 |
0.07 |
-0.32 |
2.19 |
-0.04 |
0.47 |
-0.28 |
|
2002 |
0.46 |
-0.37 |
0.55 |
0.28 |
0.93 |
0.54 |
1.03 |
-0.22 |
-0.15 |
-0.26 |
0.64 |
-0.53 |
0.05 |
-0.54 |
|
2003 |
-0.58 |
-0.95 |
0.49 |
-0.04 |
0.37 |
0.13 |
0.00 |
-0.81 |
-0.09 |
-0.09 |
-0.70 |
-0.87 |
-0.72 |
-0.54 |
|
2004 |
-0.75 |
-0.93 |
0.76 |
0.16 |
0.35 |
-0.15 |
-0.22 |
-0.86 |
-0.03 |
0.09 |
-0.93 |
-1.09 |
-0.12 |
-0.02 |
|
2005 |
-0.63 |
-0.68 |
-0.13 |
-0.09 |
-0.09 |
-0.08 |
-1.12 |
-1.08 |
0.07 |
0.13 |
-0.91 |
-0.79 |
-0.35 |
-0.09 |
Notes: Output gaps as a % of trend GDP; real time estimates based on a sample from the start of data to the date where the gap is recorded; full sample uses all data.
German GDP data was ‘spliced’ at unification so that the GDP of united Germany moved in line with West Germany before unification and with total Germany
thereafter.