The last graph in the “Useful charts” series, dedicated to the indicators of the European macroeconomic imbalances procedure (MIP), has been modified. The indicators included in this graph have been adapted to the changes made by the European Commission in the definition of the indicators:
- Main indicators:
- - the consolidated debt indicator of the private sector splits into two indicators, one for non-financial corporations and another for households and non-profit institutions serving households.
- - the indicator of consolidated private sector credit flow also splits in two, reflecting the same different sectors as the previous one. Furthermore, instead of using GDP as the denominator, it is referenced to the consolidated debt of the previous period. For Non-financial corporation sector indicator, in the numerator and in the denominator, the debt corresponding to foreign direct investments is excluded, given the different nature of this type of debt.
- Auxiliary indicators:
- - the indicator of total unconsolidated financial sector liabilities is removed
- - a new indicator is included that collects household debt as a percentage of the gross adjusted disposable income of this sector
For more information about the changes determined by the European Commission in these indicators, access the following link:
