Green because cycle is expanding: Economic Sentiment Indicator 98.4, crossed Jul 2022; core HICP, y/y 2.4 %, 0.6 pp below. Structural is low risk: the credit gap is −17.1 pp. 1 of 6 cycle series triggered.
| Indicator | Latest | Threshold | Distance | Status | As of |
|---|---|---|---|---|---|
| Economic Sentiment Indicator | 98.4 | below 100 | crossed Jul 2022 | Triggered | Aug 2026 |
| Core HICP, y/y | 2.4 % | > 3.0 % | 0.6 pp below | Normal | Aug 2026 |
| OECD composite leading indicator * | 100.8 | < 100 and falling | 0.8 above | Normal | Aug 2026 |
| Unemployment rate | 6.4 % | > 12-month low + 0.5 pp | 0.4 pp below | Normal | Jul 2026 |
| 10y–3m spread, AAA curve | +1.02 pp | < 0 for 3 months | 1.02 pp above | Normal | 16 Sep |
| CISS systemic stress | 0.03 | > 0.30 | 0.27 below | Normal | 15 Sep |
| Debt service ratio, four largest economies * | 13.6 % | > 10-yr mean + 1 pp | 1.4 pp below | Normal | Q1 2026 |
| Loans to firms, y/y | +4.4 % | < 0 | 4.4 pp above | Normal | Jul 2026 |
| Credit-to-GDP gap | −17.1 pp | > 10 pp | 27.1 pp below | Normal | Q1 2026 |
| ECB deposit facility rate | 2.50 % | — | Context | 16 Sep |
Scores are worldstat.us constructions. Latest values are as published by the source and may be revised. * marks a series with a note on its page about the source or the proxy used.