iv
OECD Organisation for Economic Cooperation and Development
OPEC Organization of the Petroleum Exporting Countries
PMI Purchasing Managers' Index
Other abbreviations
APP Asset Purchase Programme
BCS Joint Harmonised EU Programme of Business and Consumer Surveys
COVID-19 Coronavirus disease 2019
FIGARO Full international and global accounts for research in input-output analysis
GFC Global Financial Crisis
GM European Commission's Global Multi-country model
HEM Hypothetical extraction method
NACE Statistical classification of economic activities in the European Community
NGEU Next Generation EU
NLG Natural Liquefied Gas
PEPP Pandemic Emergency Purchase Programme
RRF Recovery and Resilience Facility
RRP Recovery and Resilience Plan
SME Small and medium-sized enterprise
SURE European instrument for temporary Support to mitigate Unemployment Risks in
an Emergency
TTF Title Transfer Facility
TLTRO III Targeted longer-term refinancing operations
VAT Value-added tax
Graphs/Tables/Units
bbl Barrel
bn Billion
bp. /bps. Basis point / points
euro/MWh Euro per megawatt hour
lhs Left hand scale
mn Million
pp. / pps. Percentage point / points
pt. / pts. Point / points
Q Quarter
q-o-q% Quarter-on-quarter percentage change
rhs Right hand scale
tr Trillions
y-o-y% Year-on-year percentage change
Currencies
EUR Euro
ECU European currency unit
BGN Bulgarian lev
CZK Czech koruna
DKK Danish krone
GBP Pound sterling
HUF Hungarian forint
HRK Croatian kuna
ISK Icelandic krona
MKD Macedonian denar
NOK Norwegian krone
PLN Polish zloty
RON New Romanian leu
