Eurostat reports shows that purchasing power in Albania remains below the EU figures

Eurostat has recently published a report which compares the way that continued the growth of GDP per habitant for EU countries, Western Balkan countries including Albania. The report highlights that in 2009 Albania has an increase of GDP per habitant is in 27 level, while a year ago, this level was 26, and for 2007 was 23 percent from 100 per cent which is the European average. Eurostat estimates that Albania, together with the region remain well below the European average, but has  progressed positively. Purchasing power in Albania, according to the report, remains far below the EU figures. The Eurostat has evaluated positively the Albanian's GDP per habitant reference to the growing tendency. While in terms of prices, Eurostat says in the report that in Albania, the level of prices is less than half the European average as reported by Panorama newspaper. 

News source: Balkans.com link: article

Total weight of goods handled down by 12% in 2009

After growing steadily between 2002 and 2007, the total weight of goods handled in maritime ports in the EU27 remained nearly stable at 3.9 billion tonnes in 2008. It then fell by 12% to 3.4 bn tonnes in 2009 as the result of the economic crisis. As for the sea transport of passengers, the number of passengers embarking or disembarking in maritime ports in the EU27 has remained relatively stable at around 410 million since 2003. In 2009 it fell by 2% to 403 mn.These figures are published in a report from Eurostat, the statistical office of the European Union, on port activity for goods and passengers in the EU, as well as Iceland, Norway and Croatia.

The United Kingdom, Italy, the Netherlands, Spain and France represent almost two-thirds of the total weight of goods handled. The Member States with the largest total weight of goods handled in maritime ports in 2009 were the United Kingdom (500 mn tonnes or 15% of the EU27 total), Italy and the Netherlands (both 470 mn tonnes, 14%), Spain (360 mn tonnes, 11%) and France (320 mn tonnes, 9%). These five Member States all registered a decline of between 10% and 13% in 2009, in line with the EU average.

Italy, Greece, Denmark and Sweden account for almost two-thirds of the total number of passengers handled. In 2009, the highest numbers of passengers embarking or disembarking in maritime ports were recorded in Italy (92 mn passengers or 23% of the EU27 total), Greece (88 mn, 22%), Denmark (44 mn, 11%), Sweden (31 mn, 8%), Germany (30 mn, 7%), the United Kingdom (28 mn, 7%), France (25 mn, 6%) and Spain (21 mn, 5%). For these Member States the change in the number of passengers between 2008 and 2009 ranged from -7% in Denmark and France to +2% in Italy and Germany.

Dover largest port for passengers. Among the top ten cargo ports in terms of tonnes of goods handled, Rotterdam (350 mn tonnes weight of goods handled, -10% compared with 2008) was the largest port in 2009, followed by Antwerp (140 mn tonnes, -17%), Hamburg (90 mn tonnes, -20%) and Marseille (80 mn tonnes, -14%). All of the top ten ports showed decreases in the total weight of goods handled between 2008 and 2009, ranging from -1% in Amsterdam to -20% in Hamburg. Dover (13 mn passengers, -5% compared with 2008) was the largest port in terms of the number of passengers disembarking or embarking in 2009, followed by Paloukia Salaminas and Perama (both 13 mn, -2%), Reggio Di Calabria (11 mn, +9%), Piraeus (10 mn, -6%), Messina (10 mn, +1%) and Calais (10 mn, -8%). 

News source: Eurostat link: publication

Euro area external trade surplus 5.2 bn euro 7.4 bn euro deficit for EU27

The first estimate for the euro area1 (EA16) trade balance with the rest of the world in October 2010 gave a 5.2 bn euro surplus, compared with +4.8 bn in October 2009. The September 20102 balance was +2.6 bn, compared with +1.4 bn in September 2009. In October 2010 compared with September 2010, seasonally adjusted exports fell by 0.1%, and imports by 1.3%. The first estimate for the October 2010 extra-EU271 trade balance was a 7.4 bn euro deficit, compared with -6.4 bn in October 2009. In September 2010 the balance was -11.8 bn, compared with -10.5 bn in September 2009. In October 2010 compared with September 2010, seasonally adjusted exports rose by 0.1%, while imports fell by 3.0%.

These data are released by Eurostat, the statistical office of the European Union. EU27 detailed results for January to September 2010. The EU27 deficit increased for energy (-214.5 bn euro in January-September 2010 compared with -172.8 bn in January-September 2009), while the surplus for manufactured goods rose (+124.9 bn compared with +112.2 bn). EU27 trade with all its major partners grew in January-September 2010 compared with January-September 2009. The most notable increases were recorded for exports to Brazil (+53%), China (+39%) and Turkey (+36%), and for imports from Russia (+37%), China (+30%) and India (+28%). The EU27 trade surplus increased with the USA (+52.8 bn euro in January-September 2010 compared with +31.8 bn in January-September 2009), Switzerland (+13.8 bn compared with +10.2 bn) and Turkey (+13.1 bn compared with +5.8 bn). The EU27 trade deficit increased with China (-122.2 bn compared with -97.8 bn), Russia (-52.1 bn compared with -35.0 bn), Norway (-26.8 bn compared with -24.5 bn) and South Korea (-8.9 bn compared with -8.6 bn). The deficit remained stable with Japan (-15.9 bn).

Concerning the total trade of Member States, the largest surplus was observed in Germany (+113.5 bn euro in January-September 2010), followed by Ireland (+31.8 bn), the Netherlands (+30.6 bn) and Belgium (+14.1 bn). The United Kingdom (-84.8 bn) registered the largest deficit, followed by France (-46.3 bn), Spain (-39.0 bn), Italy (-19.2 bn), Greece (-17.7 bn) and Portugal (-14.6 bn). 

News source: Eurostat link: article

Construction output stable in euro area Up by 0.5% in the EU27

In the construction sector, seasonally adjusted production was stable in the euro area (EA16) and grew by 0.5% in the EU27 in October 2010, compared with the previous month. In September, production fell by 1.6% and 1.2% respectively. Compared with October 2009, output in October 2010 dropped by 6.8% in the euro area and by 1.9% in the EU27. These first estimates are released by Eurostat, the statistical office of the European Union.

Among the Member States for which data are available for October 2010, construction output rose in five and fell in seven. The highest increases were registered in Slovakia and Sweden (both +2.0%), the Czech Republic and Germany (both +1.3%), and the largest decreases in Portugal (-6.6%), Romania and Slovenia (both -1.3%). Building construction remained stable in the euro area and increased by 0.5% in the EU27, after +0.5% and -1.8% respectively in September. Civil engineering rose by 0.4% in the euro area and by 0.5% in the EU27, after -1.1% and -0.7% respectively in the previous month.

Among the Member States for which data are available for October 2010, construction output fell in eight and rose in five. The largest decreases were registered in Spain (-34.1%), Slovenia (-17.6%) and Bulgaria (-10.7%), and the highest increases in Sweden (+18.5%), Poland (+10.4%) and the United Kingdom (+9.5%). Building construction decreased by 6.6% in the euro area and by 1.3% in the EU27, after -7.1% and -2.7% respectively in September. Civil engineering dropped by 8.7% in the euro area and by 4.9% in the EU27, after -10.2% and -6.0% respectively in the previous month.

News source: Eurostat link: article

Euro area annual inflation stable at 1.9% EU stable at 2.3%

Euro area annual inflation was 1.9% in November 2010, unchanged compared with October. A year earlier the rate was 0.5%. Monthly inflation was 0.1% in November 2010. EU annual inflation was 2.3% in November 2010, unchanged compared with October. A year earlier the rate was 1.0%. Monthly inflation was 0.2% in November 2010. These figures come from Eurostat, the statistical office of the European Union.

In November 2010, the lowest annual rates were observed in Ireland (-0.8%), Slovakia (1.0%) and the Netherlands (1.4%), and the highest in Romania (7.7%), Estonia (5.0%) and Greece (4.8%). Compared with October 2010, annual inflation rose in ten Member States, remained stable in five and fell in twelve. The lowest 12-month averages up to November 2010 were registered in Ireland (-1.8%), Latvia (-1.5%) and Slovakia (0.6%) and the highest in Romania (5.8%), Hungary (4.8%) and Greece (4.5%).

The main components with the highest annual rates in November 2010 were transport (3.8%), alcohol & tobacco (3.4%) and housing (3.3%), while the lowest annual rates were observed for communications (-0.8%), recreation & culture (0.0%) and household equipment (0.7%). Concerning the detailed sub-indices, fuels for transport (+0.37 percentage points), heating oil (+0.13) and gas (+0.09) had the largest upward impacts on the headline rate, while telecommunications (-0.09) had the biggest downward impact. The main components with the highest monthly rates were clothing (0.9%), alcohol & tobacco (0.5%) and food (0.4%), while the lowest were hotels & restaurants (-0.6%), recreation & culture (-0.5%) and communications (-0.2%). In particular, fuels for transport (+0.06 percentage points) and garments (+0.05) had the largest upward impacts, while accommodation services (-0.07) and package holidays (-0.05) had the biggest downward impacts. 

 

News source:  Eurostat link: article

Euro area and EU27 employment stable -0.2% in both zones compared with the third quarter of 2009 The

The number of persons employed in both the euro area (EA16) and the EU271 was stable in the third quarter of 2010 compared with the previous quarter, according to national accounts estimates published by Eurostat, the statistical office of the European Union. In the second quarter of 2010, employment grew by 0.1% in both zones. These figures are seasonally adjusted.

Falls in employment were recorded in construction (-1.1% in the euro area and -1.0% in the EU27) and manufacturing (-0.3% and -0.2% respectively). Agriculture fell by 0.2% in the euro area, but grew by 0.4% in the EU27. Financial services & business activities increased by 0.3% in the euro area and by 0.2% in the EU27. Other services (which mainly include public administration, health and education) rose by 0.2% and 0.1% respectively. Trade, transport & communication services grew by 0.1% in the euro area and remained stable in the EU27.

Compared with the same quarter of the previous year, employment fell by 0.2% in both the euro area and the EU27 in the third quarter of 2010. In the second quarter of 2010, employment decreased by 0.6% in both zones. Eurostat estimates that, in the third quarter of 2010, 221.2 million men and women were employed in the EU27, of which 144.5 million were in the euro area. These figures are seasonally adjusted. These quarterly data on employment provide a picture of labour input consistent with the output and income measure of national accounts. 

News source: Eurostat link: article

GDP per inhabitant in the Member States ranged from 44% to 271% of the EU27 average in 2009

In 2009, the Gross Domestic Product (GDP) per inhabitant in Luxembourg, expressed in purchasing power standards (PPS), was more than two and a half times the EU27 average, while the Netherlands recorded a level more than 30% above the average. Ireland, Austria and Denmark were between 20% and 30% above the EU27 average, while Sweden, Germany, Belgium, Finland and the United Kingdom were between 10% and 20% above average.

France, Italy and Spain registered GDP per inhabitant between 0% and 10% above the EU27 average, while Cyprus and Greece were between 0% and 10% below the average. Slovenia, the Czech Republic, Portugal, Malta and Slovakia were between 10% and 30% lower than the EU27 average. Hungary, Estonia, Poland, Lithuania and Latvia were between 30% and 50% lower, while Romania and Bulgaria were between 50% and 60% below the EU27 average. These data for 2009, 2008 and 2007, published by Eurostat, the statistical office of the European Union, are based on revised4 purchasing power parities, and the latest GDP and population figures. They cover the 27 EU Member States, three EFTA Member States, three EU Candidate Countries and four Western Balkan countries. 

News source: Eurostat link: publication

Industrial production up by 0.7% in euro area Up by 0.3% in EU27

In October 2010 compared with September 2010, seasonally adjusted industrial production rose by 0.7% in the euro area (EA16) and by 0.3% in the EU27. In September 20103 production fell by 0.7% and 0.3% respectively. In October 2010 compared with October 2009, industrial production increased by 6.9% in the euro area and by 6.7% in the EU27. These estimates are released by Eurostat, the statistical office of the European Union.

In October 2010 compared with September 2010, production of capital goods grew by 1.8% in the euro area and by 0.9% in the EU27. Non-durable consumer goods rose by 0.4% and 0.3% respectively. Production of energy increased by 0.4% in the euro area, but fell by 0.2% in the EU27. Intermediate goods gained 0.2% in both zones. Durable consumer goods decreased by 0.1% in the euro area and remained stable in the EU27. Among the Member States for which data are available, industrial production rose in ten, fell in eleven and remained unchanged in Romania and the United Kingdom. The highest increases were registered in Lithuania (+9.7%), Luxembourg (+6.4%), Estonia (+4.9%) and Greece (+3.6%), and the largest decreases in Ireland (-4.8%), Denmark (-2.8%), Malta (-2.5%) and Portugal (-2.4%).

In October 2010 compared with October 2009, production of capital goods grew by 12.1% in the euro area and by 11.5% in the EU27. Intermediate goods increased by 7.3% and 8.0% respectively. Non-durable consumer goods rose by 3.6% in the euro area and by 3.9% in the EU27. Durable consumer goods gained 1.9% and 2.7% respectively. Production of energy grew by 0.3% in the euro area, but fell by 0.4% in the EU27. Among the Member States for which data are available, industrial production rose in nineteen and fell in four. The highest increases were registered in Estonia (+37.3%), Latvia (+21.1%), Lithuania (+17.1%), Slovakia (+13.3%), Germany (+12.1%) Finland (+11.8%) and Poland (+10.4%). The decreases were recorded in Malta (-5.2%), Greece (-4.6%), Portugal (-2.8%) and Spain (-1.9%). 

News source: Eurostat link: article

80% of young internet users in the EU27 active on social media

In the EU27, 70% of households had access to the internet in the first quarter of 2010, compared with 49% in the first quarter of 2006. The share of households with broadband internet connections doubled, to reach 61% in 2010 compared with 30% in 2006. These data2 published by Eurostat, the statistical office of the European Union, represent only a small part of the results of a survey on Information and Communication Technologies (ICT) usage in households and by individuals in the EU27 Member States, Norway, Croatia and Turkey. As well as internet use and broadband connections, the survey also covers other indicators such as e-shopping, e-government, e-security and advanced communication and content related services.

Proportion of internet access around 20 percentage points higher in households with children. The level of internet access increased in all Member States between 2006 and 2010, most notably in Romania where it tripled, and in Bulgaria, the Czech Republic, Greece, Hungary and Slovakia, where it doubled or almost doubled. In 2010, the highest shares of internet access were recorded in the Netherlands (91%), Luxembourg (90%), Sweden (88%) and Denmark (86%), and the lowest in Bulgaria (33%), Romania (42%) and Greece (46%). The proportion of households with a broadband connection also rose in every Member State in 2010 compared with 2006. Sweden (83%) registered the highest share of broadband connections in 2010, followed by Denmark (80%), Finland (76%) and Germany (75%), while Romania (23%), Bulgaria (26%) and Greece (41%) had the lowest.

In 2010, the level of internet access for households with children in the EU27 was significantly higher than for households without children (84% compared with 65%). This was the case in all Member States. The shares for households with children ranged from 50% in Romania to 99% in the Netherlands and Finland. In twelve Member States the share was 90% or more for households with children.

One in five older internet users make internet phone calls. In the EU27, around 90% of all internet users sent e-mails during the first quarter of 2010, without any significant difference between age groups. On the other hand, there was a very significant difference in the use of internet for posting messages to chat sites, blogs and social networks by age. Four fifths of internet users aged 16-24 in the EU27 used the internet for this purpose during 2010, compared with two fifths of those aged 25-54 and less than one fifth of those aged 55-74. Use of this form of communication was particularly high for all age groups in Poland, Portugal and Lithuania. There was a less pronounced difference between age groups in the use of internet phone and video calls, with one third of those aged 16-24, one quarter of those aged 25-54 and one fifth of those aged 55-74 in the EU27 using this form of communication during 2010. Use of the internet for phone and video calls was particularly high for all age groups in Bulgaria, Latvia, Lithuania and Slovakia. 

News source: Eurostat link: article

EU27 trade in goods with India relatively balanced in the first nine months of 2010

After having more than doubled in value between 2000 and 2008, EU27 trade in goods with India fell in 2009. EU27 exports decreased from 31.6 billion euro in 2008 to 27.6 bn in 2009 and imports from 29.5 bn to 25.3 bn. The EU27 surplus in trade with India increased from 0.8 bn in 2000 to 2.3 bn in 2009. The first nine months of 2010 showed renewed growth in EU27 trade with India, with exports increasing from 19.7 bn in the first nine months of 2009 to 25.1 bn in the same period of 2010, and imports from 19.1 bn to 24.3 bn. The EU27 trade surplus with India remained nearly stable at 0.7 bn in the first nine months of 2010. In recent years, the share of India in EU27 trade has risen, reaching 2.6% of EU27 exports and 2.2% of EU27 imports in the first nine months of 2010. India is the EU27's 9th most important trading partner. On the occasion of the 11th European Union - India summit, which will take place on 10 December in Brussels, Eurostat, the statistical office of the European Union, issues data on trade and investments between India and the EU.

Largest surpluses in Germany and Belgium, highest deficits in the Netherlands and the United Kingdom. Among the EU27 Member States, Germany (6.6 bn euro or 26% of EU exports) was the largest exporter to India in the first nine months of 2010, followed by Belgium (5.1 bn or 20%), the United Kingdom (3.2 bn or 13%), Italy and France (both 2.3 bn or 9%). The United Kingdom (4.4 bn or 18% of EU imports) was the largest importer, followed by Germany (4.0 bn or 16%), Italy and the Netherlands1 (both 2.8 bn or 11%), Belgium and France (both 2.7 bn or 11%). The largest surpluses in trade with India were observed in Germany (+2.6 bn), Belgium (+2.4 bn) and Sweden (+0.5 bn), and the highest deficits in the Netherlands1 (-1.5 bn), the United Kingdom (-1.2 bn) and Spain (-0.8 bn).

Machinery and vehicles and other manufactured goods represented almost 80% of EU27 exports to India in the first nine months of 2010, while other manufactured goods accounted for almost 50% of imports. At the detailed level, the main EU27 exports to India included unworked diamonds and aircraft, while the main imports included oil products and worked diamonds. 

News source: Eurostat link: publication

EU27 trade in goods with Russia up by a third in the first nine months of 2010

After eight years of growth, EU27 trade in goods with Russia fell in 2009, with EU27 exports dropping by 38% and imports by 35%, compared with 2008. The EU27 trade deficit with Russia increased significantly from 41 billion euro in 2000 to 73 bn in 2008, then fell to 50 bn in 2009. The first nine months of 2010 showed a renewed growth in EU27 trade with Russia. Exports rose from 48 bn in the first nine months of 2009 to 61 bn in the same period of 2010, and imports from 83 bn to 113 bn. As a result, the EU27 trade deficit with Russia increased from 35 bn in the first nine months of 2009 to 52 bn in the same period of 2010. In the first nine months of 2010, Russia was the EU27's third most important trading partner after the USA and China, accounting for 6% of EU27 exports and 10% of EU27 imports. On the occasion of the 26th European Union - Russia summit, which will take place on 7 December in Brussels, Eurostat, the statistical office of the European Union, issues the latest data1 on trade between Russia and the EU.

Germany accounts for a third of EU27 exports to Russia. Among the EU27 Member States, Germany (18.8 bn euro or 31% of EU exports) was by far the largest exporter to Russia in the first nine months of 2010, followed by Italy (5.6 bn or 9%), France (4.4 bn or 7%) and the Netherlands (4.3 bn or 7%). Germany (21.8 bn or 19%) was also the largest importer, followed by the Netherlands2 (15.9 bn or 14%), Poland (9.7 bn or 9%), Italy (9.4 bn or 8%) and France (9.1 bn or 8%).

Most Member States recorded deficits in trade with Russia in the first nine months of 2010, the largest being observed in the Netherlands2 (-11.7 bn euro), Poland (-6.1 bn), France (-4.7 bn) and Italy (-3.8 bn). Surpluses were modest, the highest being recorded in Denmark and Austria (both +0.4 bn). Around 85% of EU27 exports to Russia in the first nine months of 2010 were manufactured goods, while energy accounted for almost three quarters of imports. At the detailed level, the main EU27 exports to Russia included medicine, motor cars, mobile phones and aircraft, while the main imports included oil, gas and coal.

News source: Eurostat link: publication

Industrial producer prices up by 0.4% in euro area Up by 0.5% in EU27

In October 2010 compared with September 2010, the industrial producer price index rose by 0.4% in the euro area (EA16) and by 0.5% in the EU27. In September 2010, prices increased by 0.3% in both zones. In October 2010 compared with October 2009, industrial producer prices gained 4.4% in the euro area and 4.5% in the EU27.

In October 2010, compared with the previous month, prices in total industry excluding the energy sector increased by 0.2% in both the euro area and the EU27. Prices in the energy sector rose by 0.7% and 1.4% respectively. Intermediate goods gained 0.3% in the euro area and 0.4% in the EU27. Durable consumer goods increased by 0.2% and 0.1% respectively. Non-durable consumer goods gained 0.1% in both zones. Capital goods rose by 0.1% in the euro area, but fell by 0.1% in the EU27. Among the Member States for which data are available, the highest increases in the total index were recorded in France and the Netherlands (both +0.8%), Denmark, Spain and Sweden (all +0.6%), and the largest decreases in Ireland (-0.8%), Latvia (-0.6%), Italy and Portugal (both -0.2%).

In October 2010 compared with October 2009, prices in total industry excluding the energy sector increased by 2.9% in both the euro area and the EU27. Prices in the energy sector gained 8.8% and 9.1% respectively. In both zones, intermediate goods rose by 5.5%, durable consumer goods by 1.3% and capital goods by 0.8%. Non-durable consumer goods increased by 1.2% in the euro area and by 1.3% in the EU27. Among Member States for which data are available, the largest increases in the total index were observed in Malta (+14.8%), Bulgaria (+10.1%) and Hungary (+10.0%), and the smallest in Ireland (+1.7%) and the Czech Republic (+2.6%). The only decrease was observed in Slovakia (-1.1%). 

News source: Eurostat link: publication

Euro area GDP up by 0.4% and EU27 GDP up by 0.5% +1.9% and +2.2% respectively compared with the third quarter of 2009

GDP increased by 0.4% in the euro area (EA16) and by 0.5% in the EU271 during the third quarter of 2010, compared with the previous quarter, according to first estimates released by Eurostat, the statistical office of the European Union. In the second quarter of 2010, growth rates were +1.0% in both zones. Compared with the third quarter of 2009, seasonally adjusted GDP increased by 1.9% in the euro area and by 2.2% in the EU27, after +2.0% in both zones for the previous quarter.

Variation in components of GDP. During the third quarter of 2010, household final consumption expenditure increased by 0.3% in both the euro area and the EU27 (after +0.2% and +0.3% respectively in the previous quarter). Gross fixed capital formation was stable in the euro area and rose by 0.2% in the EU27 (after +1.7% and +2.1%). Exports grew by 1.9% in the euro area and by 1.8% in the EU27 (after +4.3% and +4.0%). Imports increased by 1.7% in the euro area and by 1.6% in the EU27 (after +4.2% and +3.9%).

US and Japanese GDP increased. In the United States GDP increased by 0.6% during the third quarter of 2010, after +0.4% in the second quarter of 2010. In Japan GDP rose by 0.9% in the third quarter of 2010, after +0.4% in the previous quarter. Compared with the third quarter of 2009, GDP grew by 3.2% in the United States (after +3.0% in the previous quarter), and by 4.1% in Japan (after +2.7%). 

News source: Eurostat link: article

Euro area unemployment rate at 10.1% EU27 at 9.6%

The euro area(EA16) seasonally-adjusted unemployment rate was 10.1% in October 2010, compared with 10.0% in September. It was 9.9% in October 2009. The EU271 unemployment rate was 9.6% in October 2010, unchanged compared with September. It was 9.4% in October 2009.Eurostat estimates that 23.151 million men and women in the EU27, of whom 15.947 million were in the euro area, were unemployed in October 2010. Compared with September, the number of persons unemployed increased by 84 000 in the EU27 and by 80 000 in the euro area. Compared with October 2009, unemployment rose by 0.590 million in the EU27 and by 0.402 million in the euro area.

These figures are published by Eurostat, the statistical office of the European Union.

Among the Member States, the lowest unemployment rates were recorded in the Netherlands (4.4%), Austria (4.8%) and Luxembourg (5.0%), and the highest in Spain (20.7%), Latvia (19.4% in the second quarter of 2010) and Lithuania (18.4% in the third quarter of 2010).Compared with a year ago, the unemployment rate fell in eight Member States and increased in nineteen. The largest falls were observed in Germany (7.5% to 6.7%), Malta (6.9% to 6.2%), Sweden (8.8% to 8.1%) and Finland (8.7% to 8.0%). The highest increases were registered in Lithuania (14.4% to 18.4% between the third quarters of 2009 and 2010), Greece (9.2% to 12.2% between the second quarters of 2009 and 2010) and Latvia (16.5% to 19.4% between the second quarters of 2009 and 2010).

Between October 2009 and October 2010, the unemployment rate for males rose from 9.8% to 9.9% in the euro area and from 9.5% to 9.6% in the EU27. The female unemployment rate increased from 9.9% to 10.3% in the euro area and from 9.2% to 9.6% in the EU27. In October 2010, the youth unemployment rate (under-25s) was 20.1% in the euro area and 20.4% in the EU27. In October 2009 it was 20.2% and 20.6% respectively. The lowest rates were observed in Germany and the Netherlands (both 8.5%) and Austria (9.8%), and the highest rates in Spain (43.2%), Lithuania (35.3% in the third quarter of 2010) and Latvia (34.0% in the second quarter of 2010). In the USA, the unemployment rate was 9.6% in October 2010. In Japan it was 5.0% in September 2010. 

News source: Eurostat link: article

Industrial new orders down by 3.8% in euro area Down by 2.5% in EU27

In September 2010 compared with August 2010, the euro area1 (EA16) industrial new orders index fell by 3.8%. In August3 the index rose by 5.1%. In the EU27, new orders decreased by 2.5% in September 2010, after a gain of 3.5% in August. Excluding ships, railway & aerospace equipment, for which changes tend to be more volatile, industrial new orders declined by 3.3% in the euro area and by 0.7% in the EU27. In September 2010 compared with September 2009, industrial new orders grew by 13.5% in the euro area and by 13.4% in the EU27. Total industry excluding ships, railway & aerospace equipment4 rose by 15.6% and 15.2% respectively.

In September 2010 compared with August 2010, new orders for non-durable consumer goods fell by 1.8% in both the euro area and the EU27. Intermediate goods decreased by 2.2% and 1.9% respectively. Capital goods declined by 2.5% in the euro area and by 2.7% in the EU27. Durable consumer goods fell by 6.3% and 3.0% respectively.

Among the Member States for which data are available, total manufacturing working on orders rose in eleven and fell in eleven. The highest increases were registered in Estonia (+8.5%), Hungary (+6.9%) and the Netherlands (+4.8%), and the largest decreases in Denmark (-27.3%), Greece (-16.3%) and Lithuania (-5.1%).

In September 2010 compared with September 2009, new orders for intermediate goods rose by 20.0% in the euro area and by 19.4% in the EU27. Capital goods increased by 12.0% and 13.0% respectively. Non-durable consumer goods grew by 2.2% in the euro area, but fell by 1.1% in the EU27. Durable consumer goods decreased by 1.9% in the euro area, but gained 1.2% in the EU27. Among the Member States for which data are available, total manufacturing working on orders rose in nineteen and fell in three. The highest increases were registered in Estonia (+52.9%), Finland (+31.9%) and Latvia (+31.6%). The decreases were observed in Greece (-7.7%), Denmark (-7.6%) and France (-0.4%). 

News source: Eurostat link: article

Eurogroup: Greece on track, significant progress made

The Eurogroup Council expressed satisfaction with progress in Greece's stability program, the substantial reduction of the fiscal deficit achieved in 2010, and over Eurostat's full validation of the Greek fiscal statistics, in a statement issued late Tuesday in Brussels, which also pointed out the need for reduction of state spending in 2011. In reference to the Eurogroup statement on the situation in Greece, the group president Jean-Claude Juncker noted the Greek government's strong tommitment to take the necessary additional measures in the context of the 2011 budget, so that next year the ambitious target of containing the fiscal deficit at 17 billion euros will be achieved.

He said that the Greek government must clarify the final details of the additional measures and include them in the 2011 budget and in the revised Memorandum, and stressed the need for further reduction of state spending and for accelerating the structural reforms, particularly in the areas of taxation, job markets, the business environment and public administration.

Juncker further noted the significant progress made, stressing that Greece is on track, but that the fiscal effort must continue in 2011 so that it will remain on track. Below is the full text of the Eurogroup statement on the situation in Greece, issued on Tuesday. Separate statements were also issued on the situation in Ireland and Portugal.

Eurogroup statement on the situation in Greece

"The Eurogroup, the European Commission and the ECB welcome the efforts undertaken by the Greek Government to comply with the agreed adjustment programme, in view of a substantial reduction of the deficit in 2010 and the abrogation of the excessive deficit by 2014. In particular, we acknowledge that, with the substantial execution of the programme achieved over the past 5-6 months, the required adjustment is broadly on track.

We note the recent validation by Eurostat of fiscal data notified by the independent Greek statistical authority for 2009. Based on methodology fully in line with European standards, there is, as expected, a substantial revision in government deficit and debt data for 2009. This revision is expected to affect the 2010 deficit figures. We welcome the support given by the Commission (Eurostat) and some Member States to provide assistance to Greece in the area of fiscal and other macroeconomic statistics. We also welcome the efforts of the Greek authorities to correct the deficiencies in the administrative and accounting systems in parallel with improvements in the statistical system.

In this respect, we welcome the strong commitment of the Greek government to undertake the required additional measures in the budget for 2011, in order to confirm the ambitious deficit target of 17 billion euros next year. The government is currently specifying the details of such additional measures in the 2011 budget as well as in the revised Memorandum of Understanding. We stress in particular the need for further expenditure reductions, as well the acceleration and deepening of structural reforms in particular in the area of taxation, labour markets, business environment, health care and the efficiency of public administration. We remain confident that the significant progress made during the course of this year will continue, allowing the consolidation of the Greek budget to remain on track."

News source: EMG.rs link: article

Construction output down by 2.1% in euro area Down by 1.7% in the EU27

In the construction sector, seasonally adjusted production fell by 2.1% in the euro area2 (EA16) and by 1.7% in the EU27 in September 2010, compared with the previous month. In August3, production decreased by 0.4% in the euro area and remained stable in the EU27. Compared with September 2009, output in September 2010 dropped by 8.1% in the euro area and by 3.6% in the EU27.

Among the Member States for which data are available for September 2010, construction output fell in nine, rose in four and remained stable in the Czech Republic. The largest decreases were registered in Slovenia (-8.3%), Slovakia (-7.6%) and Portugal (-4.6%), and the highest increases in Romania (+4.0%), Poland (+2.9%) and Sweden (+1.4%). Building construction fell by 0.6% in the euro area and by 2.3% in the EU27, after -0.9% and +0.5% respectively in August. Civil engineering decreased by 2.0% in the euro area and by 0.2% in the EU27, after -0.6% and +0.5% respectively in the previous month.

Among the Member States for which data are available for September 2010, construction output fell in ten and rose in four. The largest decreases were registered in Spain (-37.3%), Slovenia (-18.5%) and Romania (-14.2%). The highest increases were recorded in Poland (+13.4%), Sweden and the United Kingdom (both +6.9%). Building construction decreased by 7.5% in the euro area and by 4.6% in the EU27, after -5.9% and -2.7% respectively in August. Civil engineering dropped by 9.9% in the euro area, but increased by 2.6% in the EU27, after -11.6% and +1.9% respectively in the previous month.

News source: Eurostat link: publication

Euro area annual inflation up to 1.9% EU up to 2.3%

Euro area annual inflation was 1.9% in October 20102, up from 1.8% in September. A year earlier the rate was -0.1%. Monthly inflation was 0.4% in October 2010. EU annual inflation was 2.3% in October 2010, up from 2.2% in September. A year earlier the rate was 0.5%. Monthly inflation was 0.3% in October 2010. These figures come from Eurostat, the statistical office of the European Union.

In October 2010, the lowest annual rates were observed in Ireland (-0.8%), Latvia (0.9%) and Slovakia (1.0%), and the highest in Romania (7.9%), Greece (5.2%) and Estonia (4.5%). Compared with September 2010, annual inflation rose in fifteen Member States, remained stable in six and fell in five. The lowest 12-month averages4 up to October 2010 were registered in Ireland (-1.9%), Latvia (-1.8%) and Slovakia (0.5%) and the highest in Romania (5.5%), Hungary (4.9%) and Greece (4.3%).

The main components with the highest annual rates in October 2010 were transport (4.3%), alcohol & tobacco (3.4%) and housing (3.2%), while the lowest annual rates were observed for communications (-1.1%), recreation & culture (0.1%) and clothing (0.4%). Concerning the detailed sub-indices, fuels for transport (+0.44 percentage points), heating oil (+0.14) and gas (+0.08) had the largest upward impacts on the headline rate, while telecommunications (-0.10) and garments (-0.09) had the biggest downward impacts. The main components with the highest monthly rates were clothing (3.3%), education (0.6%) and housing (0.4%), while the lowest were communications (-0.3%), recreation & culture and hotels & restaurants (0.0% each). In particular, garments (+0.16 percentage points) and footwear (+0.04) had the largest upward impacts, while package holidays (-0.03) had the biggest downward impact.

News source: Eurostat link: article

Industrial production down by 0.9% in euro area Down by 0.5% in EU27

In September 2010 compared with August 2010, seasonally adjusted industrial production fell by 0.9% in the euro area (EA16) and by 0.5% in the EU272. In August 20103 production rose by 1.1% and 0.9% respectively. In September 2010 compared with September 2009, industrial production increased by 5.2% in the euro area and by 5.8% in the EU27.

In September 2010 compared with August 2010, production of non-durable consumer goods fell by 0.6% in the euro area and by 0.3% in the EU27. Production of energy declined by 0.9% and 0.7% respectively. Intermediate goods decreased by 1.3% in the euro area and by 0.7% in the EU27. Capital goods dropped by 1.3% and 0.8% respectively. Durable consumer goods fell by 3.0% in the euro area and by 2.5% in the EU27. Among the Member States for which data are available, industrial production rose in ten, fell in ten and remained stable in France. The highest increases were registered in Ireland (+7.9%), Estonia (+3.6%) and Denmark (+2.7%), and the most significant decreases in Malta (-5.6%), Greece (-5.4%) and Portugal (-4.7%).

In September 2010 compared with September 2009, production of capital goods grew by 7.5% in the euro area and by 8.7% in the EU27. Intermediate goods increased by 6.8% and 7.5% respectively. Production of energy rose by 1.8% in the euro area and by 0.8% in the EU27. Non-durable consumer goods gained 1.6% and 2.5% respectively. Durable consumer goods fell by 0.2% in the euro area, but increased by 2.2% in the EU27. Industrial production rose in all Member States for which data are available, except Greece (-7.6%), Portugal (-2.4%) and Spain (-1.4%). The highest increases were registered in Estonia (+31.1%), Latvia (+19.0%), the Czech Republic (+12.2%), Poland (+12.1%) and Ireland (+10.9%).

News source: Eurostat link: article

Euro area and EU27 GDP up by 0.4% +1.9% and +2.1% respectively compared with the third quarter of 2009

GDP increased by 0.4% in both the euro area1 (EA16) and the EU271 during the third quarter of 2010, compared with the previous quarter, according to flash estimates published by Eurostat, the statistical office of the European Union. In the second quarter of 2010, growth rates were +1.0% in both zones. Compared with the same quarter of the previous year, seasonally adjusted GDP increased by 1.9% in the euro area and by 2.1% in the EU27 in the third quarter of 2010, after +1.9% and +2.0% respectively in the previous quarter.

During the third quarter of 2010, US GDP increased by 0.5% compared with the previous quarter, after +0.4% in the second quarter of 2010. US GDP rose by 3.1% compared with the same quarter of the previous year (+3.0% in the previous quarter).

European quarterly national accounts are compiled in accordance with the European System of Accounts 1995 (ESA95). The flash estimate of third quarter 2010 GDP growth presented in this release is based on Member States’ data as available, directly covering 97% of EA16 GDP (91% of EU27 GDP). For more details of the flash methodology please refer to News Release 55/2003 of 15 May 2003. Simulations and previously published flash estimates have shown the flash estimation procedure to be reliable. Over the last 39 quarters, the flash estimate of GDP growth on the previous quarter for the euro area (EA12) when compared to the following first regular release has led to an average revision of less than 0.01 percentage points. It correctly anticipated the acceleration or deceleration of growth 34 times. The value of the growth rate was correctly anticipated 34 times and differed by ±0.1 percentage points 5 times. With this flash estimate, euro area and EU GDP figures for earlier quarters are not revised, so the growth rates till the second quarter 2010, published in News Release 148/2010 of 6 October 2010, remain unchanged. All figures presented in this release are subject to further revision with the two regular estimates of GDP for the third quarter 2010, scheduled for 2 December 2010 and 7 January 2011. First estimates for National Accounts employment in the third quarter 2010 are scheduled for 15 December 2010.

News source: Eurostat link: publication