This is a scaled claim aiming to forecast the growth rate of the Gross Domestic Product (GDP) of the 15 members of the European Union (EU-15) during the 1st quarter of 2002, compared to the 1st quarter of 2001.
The payment equals [50+100*(r-1%)], where r is the GDP growth rate expressed in percentage points. The figure to be used for the judgement of the claim is the one to be reported by Eurostat on May 30, 2002
The claim pays 50 if the reported rate equals 1%, 100 if r=1.5% or higher, and 0 if r=0.5% or lower.
The GDP growth rate reported corresponds to the growth rate between Q and (Q-4), at constant prices.