EFTA01475956Set 10
2015-12-08298p51,111w
deflator
Compensation per employee
Employment
Real total compensation
2014
2015
Source: Deutsche Bank Research , Eurostat
2016
2017
Figure 3: Investment spending
recovery has flattened
EA non-construction investment spending ... lagged 1 qtr: 0.88
2004
2006
2008
2010
2012
2014
Source: Deutsche Bank Research , Eurostat, Haver Analytics LP
-40
-30
-20
-10
0
EFTA01476019
Figure 4: Macro-economic activity & inflation ... efat)
2010 2011 2012 2013 2014 2015 2016 2017
Source: Deutsche Bank Research , Eurostat
Figure 12: The inflation benefits of
euro depreciation are materialising
https://www.justice.gov/epstein/files/DataSet%2010/EFTA01475956.pdf
EFTA01077755Set 9
22p12,833w
Morgan Private Bank, Bloomberg, Company filings, December
2011
(c10) FRB, BEA, ECB, Eurostat, Bank of England, UK Office for (c53) Fame, December 2011
National Statistics, Bank of Japan, Japan Cabinet ... Morgan Securities LLC, November 2011
(al) CBO, J.P. Morgan Private Bank, December 2011 (c74) Eurostat, October 2011
(c32) CBO, J.P. Morgan Private Bank, August 2011 (c75) Institute Nacional de Estadistica ... Oficemen, October 2011
(e34) J.P. Morgan Securities LW, CBO, September 2011 (c77) Eurostat, J.P. Morgan Securities LW, October 2011
(c35) FRB, US Treasury, November 2011 (c78) Institute Nacional de Estadistica
https://www.justice.gov/epstein/files/DataSet%209/EFTA01077755.pdf
EFTA01103792Set 9
2013-05-313p833w
eurozone rose in April from the previous record of 12.1 percent set in March,
Eurostat, the European Union's statistics office, said Friday. In 2008, before the worst ... Ireland (14.1%)
#8 Lithuania (13.1%)
#9 Bulgaria (12.6%)
#10 Italy (11.5%)
See Eurostat Web Link: http://epp.eurostat.ec.europa.eu/cache/ITV PUBLIC/3-30042013-8P/EN/3-
30042013-BP-EN.PDF
Private companies in the eurozone haven't managed to fill ... inflation rate remains under the ECB's target of just below
2 percent.
Eurostat said inflation in the eurozone rose to 1.4 percent for the year that ended
https://www.justice.gov/epstein/files/DataSet%209/EFTA01103792.pdf
EFTA01069667Set 9
2011-06-205p2,788w
inflation on the rise Germany labor costs on the rise
Annual percentage change in Eurostat HICP, nsa Percentage change, compensation per hour ... Source: Bloomberg, Eurostat. Source: German Federal Statistical Office.
As for fiscal transfers from the EU's Helicopter Men (and their partners at the IMF), there appears to be another "deal
https://www.justice.gov/epstein/files/DataSet%209/EFTA01069667.pdf
EFTA01135497Set 9
2013-06-0219p12,055w
eurozone
rose in April from the previous record of 12.1 percent set in March, Eurostat, the European Union's
statistics office, said Friday. In 2008, before the worst ... inflation rate remains under the ECB's target of just
below 2 percent. Eurostat said inflation in the eurozone rose to 1.4 percent for the year that ended
https://www.justice.gov/epstein/files/DataSet%209/EFTA01135497.pdf
EFTA01180916Set 9
2012-09-046p3,821w
Source: FRB, BEA ECB, Eurostat, BoE, UK Office for National Statistics,
Bo.l. Japan Cabinet Office.
How will it work out in Europe? The immediate benefits of central bank debt purchases ... Source: Deutsche Bundesbank. Source: StatiSti wiles Bundesamt. Source: Eurostat.
Another risk relates to losses at the ECB. Central banks can recognize losses over long periods of time
https://www.justice.gov/epstein/files/DataSet%209/EFTA01180916.pdf
EFTA01172052Set 9
2011-12-055p2,871w
Source: FRB, SEA. ECS, Eurostat. WE, LE Office for NstionelStatistics, Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11
BoJ, Japan Cabinet Office
https://www.justice.gov/epstein/files/DataSet%209/EFTA01172052.pdf
EFTA01071135Set 9
2012-10-095p3,351w
survey
2008 2009 2010 2011 2012 2013 1.000 47
Source: FRB, BEA, ECB, Eurostat, BoE, UK Office for National Statistics. 2010 2011 2012
BoJ, Japan Cabinet Office. Source: Bloomberg
https://www.justice.gov/epstein/files/DataSet%209/EFTA01071135.pdf
EFTA01181957Set 9
2012-11-0418p12,386w
percent in August, as 146,000 more
people were classified as unemployed, Eurostat, the statistical agency of the European Union, reported from
Luxembourg. See the article in the New York
https://www.justice.gov/epstein/files/DataSet%209/EFTA01181957.pdf
EFTA01070771Set 9
2012-09-255p4,003w
public/private credit and hedge 2008 2009 2010 2011 2012 2013
Source: FRB, BEA, ECB, Eurostat, BoE, UK Office for NationalStatisties, BoJ, Japan Cabinet Office.
EFTA01070771
Eye on the Market
https://www.justice.gov/epstein/files/DataSet%209/EFTA01070771.pdf
EFTA01116684Set 9
2002-01-019p7,098w
Source: FRB, BEA, ECB, Eurostat, BoE, UKOffice fo r National Statistics,
BoJ, Japan Cabinet Office. Source: Morgan Stanley, Bureau of Labor Statistics.
Michael Cembalest
Chief Investment Officer
Appendix A: Natural
https://www.justice.gov/epstein/files/DataSet%209/EFTA01116684.pdf
EFTA01171739Set 9
2011-11-096p3,372w
Source. Reinhart, CarmenM. and Kenneth S. Rogoff, "From Financial Sou ce: IMF, Eurostat, National Inst. of Statistics, J.P. Morgan Private 8ank
Crash to Debt Crisis,' NBER Wo tiringPaper15795,March
https://www.justice.gov/epstein/files/DataSet%209/EFTA01171739.pdf