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 hourly labour costs rose by 0.8% EU27 up by 1.2%

Hourly labour costs in the euro area (EA16) rose by 0.8% in the year up to the third quarter of 2010, compared with 1.6% for the previous quarter. This is the lowest increase registered since the start of the series in 2000. In the EU271, the annual rise was 1.2% up to the third quarter of 2010, compared with 1.5% for the previous quarter.

The two main components of labour costs are wages & salaries and non-wage costs. In the euro area, wages & salaries per hour worked grew by 0.7% in the year up to the third quarter of 2010, and the non-wage component by 1.2%, compared with 1.5% and 1.9% respectively for the second quarter of 2010. In the EU27, hourly wages & salaries rose by 1.2% and the non-wage component by 1.1% in the year up to the third quarter of 2010, compared with 1.6% for both components in the previous quarter.

The breakdown by economic activity shows that in the euro area hourly labour costs rose by 0.3% in industry, 0.6% in construction and 1.1% in services in the year up to the third quarter of 2010. In the EU27, labour costs per hour grew by 0.7% in industry, 0.4% in construction and 1.5% in services. 

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