Indicators of the scoreboard

The headline indicators consist of the following eleven indicators and indicative thresholds, covering the major sources of macroeconomic imbalances (report 2015):

  • 3 year backward moving average of the current account balance as percent of GDP, with a threshold outside the range [-4%,+6%] of GDP;
  • net international investment position as percent of GDP, with a threshold of -35% of GDP;

  • 3 years percentage change of the real effective exchange rates based on HICP/CPI deflators, relative to 41 other industrial countries, with thresholds of -/+5% for Euro-area countries and -/+11% for non-Euro-area countries;
    NB : For EU trading partners HICP is used while for non-EU trading partners, the deflator will be based on a CPI close to HICP methodology.

  • 5 years percentage change of export market shares measured in values, with a threshold of -6%;
  • 3 years percentage change in nominal unit labour cost, with thresholds of +9% for euro-area countries and +12% for non-euro-area countries;
    NB: index providing ratio of nominal compensation for employee to real GDP per person employed

  • year-on-year changes in house prices relative to a Eurostat consumption deflator, with a threshold of 6%;
    NB : changes in house prices relative to the consumption deflator of Eurostat

  • private sector credit flow in % of GDP with a threshold of 14%;
    NB: private sector is defined as non-financial corporations, households and non-profit institutions serving households. Sum of loans and securities other than shares; liabilities on a consolidated basis.

  • private sector debt in % of GDP with a threshold of 133%;
    NB: private sector is defined as non-financial corporations, households and non-profit institutions serving households. Sum of loans and securities other than shares; liabilities on a consolidated basis.

  • general government sector debt in % of GDP with a threshold of 60%;
  • 3-year backward moving average of unemployment rate, with a threshold of 10%;
  • year-on-year changes in total financial sector liabilities, with a threshold of 16.5%.
    NB: All corporations which are principally engaged in financial intermediation and/or in auxiliary financial activities. Liabilities are cover currency and deposits (AF.2), securities other than shares (AF.3), loans (AF.4), shares and other equity (AF.5), insurance technical reserves (AF.6) and other accounts payable (AF.7).
  • 3 years change in % in activity rate of total population aged 15-64, with a threshold of -0,2%

  • 3 years change in % of long term unemplyement rate of active population aged 15-74, with a threshold of 0,5%

  • 3 years change of youth unemployment rate of active population aged 15-24, with a threshold of 2%

  • For more details about the methodology of the indicators and to consult the metadata related to the different components of the indicators, the website of Eurostat can be accessed on following addresses: