Economic Indicators and Monthly Overview June 2015

1. | [Presentation title] | [Client Name] | [Date]1
Economic Indicators
Last update 12.6.2015

2. | Economic Indicators |2
Economic Outlook Monthly Overview – June 2015
Europe:
• Consensus June GDP forecast for WE remained stable on 1,7% for 2015 and on 1,9% for 2016.
• The EU industrial confidence improved very slightly in May while consumer confidence
deteriorated significantly.
• The IFO Business Climate index for Germany edged slightly downwards in May. Still, the
German economy remains on track.
• Recent data have been improving. GDP accelerated from 0,8% y-o-y growth in Q3 2014 to 0,9%
in Q4 2014 and 1,0% in Q1 2015. Household consumption helped to buoy activity. France and
Spain saw their recoveries accelerate in Q1 and spending in Germany has also been on an
upwards trend.
US:
• Consensus June GDP forecast for the US came down strongly again from 2,5% to 2,2% for 2015
and remained stable on 2,8% for 2016.
• Harsh weather conditions and a strong US dollar led to weakening trade and manufacturing
fundamentals. The second estimate of US Q1 GDP growth showed a -0,7% q-o-q decline. For
the FED the shaky start to 2015 continues to spur debate over the timing of an interest rate rise.
Japan:
• The June GDP growth forecast for Japan improved slightly from 0,9% to 1,0% for 2015, and
remained on 1,7% for 2016.
• Q1 activity surprised many forecasters, beating expectations to grow by 1,0% q-o-q. Going
forward, slowdowns in the Chinese and US economies will negatively impact on Japanese
export demand.

3. 3 | Economic Indicators |
Eurostat Data

4. | Economic Indicators |4
Economic Indicators – GDP EU 28
Source: Eurostat Jun 15
-5
-4
-3
-2
-1
0
1
2
3
4
09Q1
10Q1
11Q1
12Q1
13Q1
14Q1
15Q1
%
GDP for the EU 28 countries at constant prices quarter vs. same quarter of last year

5. | Economic Indicators |5
Economic Indicators – GDP EU 28
Source: Eurostat Jun 15
-2.5
-2
-1.5
-1
-0.5
0
0.5
1
09Q1
10Q1
11Q1
12Q1
13Q1
14Q1
15Q1
%
GDP for the EU 28 countries at constant prices quarter on quarter

6. | Economic Indicators |6
Economic Indicators –EU 28 Consumer Price Index
Source: Eurostat Jun 15
-1
-0.5
0
0.5
1
1.5
2
2.5
3
3.5
09/1
10/1
11/1
12/1
13/1
14/1
15/1
16/1
%
The harmonized index of consumer prices is the result of the collaboration
between Eurostat and National Statistical Institutes of the Member States.

7. | Economic Indicators |7
Economic Indicators – ECB interest rate
Source: ECB, FED, Eurostat Jun 15
May 15; 0,3
Jun.15; 0,05
Jun.15; 0,25
-1,0
-0,5
0,0
0,5
1,0
1,5
2,0
2,5
3,0
3,5
Jan09
Jul.09
Jan10
Jul.10
Jan11
July11
Jan12
Jul.12
Jan13
Jul.13
Jan14
Jul.14
Jan15
Jul.15
Jan16
%
ECB short-term rate
Eurozone inflation
FED rate

8. | Economic Indicators |8
Economic Indicators –EU 28 Unemployment Rate
Source: Eurostat Jun 15
9.7
6
7
8
9
10
11
12
Jan09
Jan10
Jan11
Jan12
Jan13
Jan14
Jan15
Jan16
%
Unemployment rate for EU 28 countries

9. | Economic Indicators |9
Economic Indicators – Industrial Confidence Ind EU
Source: Eurostat June 15
-40
-35
-30
-25
-20
-15
-10
-5
0
5
10
Jan09
Jan10
Jan11
Jan12
Jan13
Jan14
Jan15
Jan16
Industrial confidence within EU 28 improved very slightly in May.
The Industrial Confidence Indicator is the arithmetic average of the answers to the
questions on production expectations, order books and stocks.

10. | Economic Indicators |10
Economic Indicators – Consumer Confidence Ind EU
Source: Eurostat June 15
Consumer Confidence within EU 28 deteriorated again in May.
-35
-30
-25
-20
-15
-10
-5
0
Jan09
Jan10
Jan11
Jan12
Jan13
Jan14
Jan15
Jan16
The Consumer Confidence Indicator is the arithmetic average of the answers to the questions
on the financial situation of households and general economic situation (past and future)
together with that on the advisability of making major purchases.

11. | Economic Indicators |11
Economic Indicators – Capacity Utilization
in Manufacturing Industry in % - EU 27
Source: Eurostat May 15
60
65
70
75
80
85
04Q1
05Q1
06Q1
07Q1
08Q1
09Q1
10Q1
11Q1
12Q1
13Q1
14Q1
15Q1
81.2
%
The capacity utilization in manufacturing industry gives the level of capacity utilization
in percent, as assessed by managers in manufacturing industry.

12. | Economic Indicators |12
Ifo Data

13. | Economic Indicators |13
Economic Indicators – IFO World Economic Climate
Source: IFO May 15
The Ifo Index for the world economy rose to 99.5 points from 95.9 points last quarter.
The world economy is slowly gaining impetus.
This indicator is being updated on a quarterly basis.

14. | Economic Indicators |14
Economic Indicators – IFO European Economic Climate
Source: IFO May 15
The economic climate in Europe continued its upwards trend in Q2 2015
This indicator is being updated on a quarterly basis.

15. | Economic Indicators |15
Economic Indicators – IFO NA Economic Climate
Source: IFO May 15This indicator is being updated on a quarterly basis.

16. | Economic Indicators |16
Economic Indicators – IFO Asia Economic Climate
Source: IFO May 15This indicator is being updated on a quarterly basis.

17. | Economic Indicators |17
Economic Indicators – GDP Forecast Euro Area
Source: IFO May 15

18. | Economic Indicators |18
Economic Indicators – GDP Forecast Germany
Source: IFO May 15

19. | Economic Indicators |19
Economic Indicators – Exchange rate $ vs €
Source: IFO Apr 15

20. | Economic Indicators |20
Economic Indicators –
Ifo business situation and 6 month expectations
Source: IFO Jun 15
75
80
85
90
95
100
105
110
115
Jan08
Jan09
Jan10
Jan11
Jan12
Jan13
Jan14
Jan15
80
85
90
95
100
105
110
115
120
125
Jan08
Jan09
Jan10
Jan11
Jan12
Jan13
Jan14
Jan15
Business situation 6 months expectations
The IFO-Institut für Wirtschaftsforschung business situation index shows the current evaluation of the
economic situation, while the 6 month expectations index shows the expectations of the companies for the next
6 months. Over 7000 companies are being interviewed.
The Ifo Business Climate Index for Germany edged slightly downwards in May. Companies
were once again more satisfied with their current business situation, but expressed slightly
less optimism about the month ahead. The German economy remains on track.

21. | Economic Indicators |21
Economic Indicators – IFO Assessment of Current
Business Situation
Source: IFO June 15
The Ifo Business Climate Index for Germany edged slightly downwards in May. Companies
were once again more satisfied with their current business situation, but expressed slightly
less optimism about the month ahead. The German economy remains on track.

22. | Economic Indicators |22
Zenith Data

23. | Economic Indicators |23
Global Advertising Growth
Source: ZenithOptimedia 12/14

24. | Economic Indicators |24
Regional Advertising Development
Source: ZenithOptimedia 12/14

25. | Economic Indicators |25
Global Advertising Markets
Source: ZenithOptimedia 12/14

26. | Economic Indicators |26
Global Advertising Markets
Source: ZenithOptimedia 12/14

27. | Economic Indicators |27
Advertising by medium
Source: ZenithOptimedia 12/14