Annual Inflation Increase In Both Zones

European annual inflation increased in both zones in June 2013 compared to May going up 1.6% in the euro area and 1.7% in the EU27. Monthly inflation increased by 0.1% in both zones in June. Romania had the highest annual rate with 4.5% and Greece the lowest with -0.3%. The lowest 12 month average rate was in Greece with 0.2% and Romania the highest 4.5%.

Production Down Across Europe In May

Seasonally adjusted figures for industrial production fell by 0.3% in the euro area and by 0.6% in the EU27 compared with April according to Eurostat. Production had increased in April by 0.5% and 0.3% respectively.

The production of consumer durables decreased by 2.3% in the euro area and 2.1% in the EU27. Capital goods decreased by by 1.5% and 1.9% respectively and intermediate goods by 0.4% and 0.2% respectively. Energy rose by 0.1% in the euro area and fell by 0.3% in the EU27. Non-durable consumer goods increased by 0.6% in the euro area and fell by 0.1% in the EU27.

Nationally, the largest decreases were in Romania (-10.7%), Lithuania (-6.3%) and Sweden (-3.8%). Portugal (6.1%), Latvia (2.2%) and Estonia (2%) saw the largest increases.

Estimates Say GDP Down In Europe

GDP in the euro area fell by 0.2% and the EU27 by 0.1% in Q1 2013 compared with the Q4 of 2012 according to a statistical release from Eurostat on the second estimates for GDP in member states. Compared to the same quarter in the previous year GDP fell by 1.1% in the euro area and 0.7% in the EU27.

Household Final Consumption Expenditure increased by 0.1% in both zones but still contributed negatively to GDP growth. Capital formation fell in both zones as did both exports and imports.

Unemployment Up In Euro Area

Unemployment in the euro area rose to 12.2% in April 2013 a small increase on the 12.1% in March. The EU27 unemployment rate remained unchanged at 11%. The annual comparison shows a marked increase in unemployment in Europe since last year. In the euro area the unemployment rate was 11.2% and the EU27 had an unemployment rate of 10.3%.

The numbers of unemployed people in Europe were estimated to have been 26.588m. The euro area accounted for 19.375m of them. The lowest rates of unemployment were reported in Austria and Germany with 4.9% and 5.4% respectively. The highest rates were reported in Greece and Spain with 27% and 26.8% respectively.

These countries also reported the lowest and the highest rates for youth unemployment. Austria had 8% and Germany 7.5% youth unemployment and Greece had 62.5% and Spain 56.4% youth unemployment.

Non-Food Sector Takes Retail Volumes Down

The volume of retail trade in Europe fell in March 2013 compared with February 2013 by 0.1% in the euro area and 0.2% in the EU27. The figures from Eurostat also include the annual comparison and between March 2012 and March 2013 the index fell by 2.4% in the euro area and 1.6% in the EU27.

During March the food, drinks and tobacco sector increased by 0.8% in the euro area and by 1% in the EU27 but the non-food sector fell by 0.5% and 0.6% respectively. Total retail trade fell in nine countries and rose in eleven. Over the year food, drinks and tobacco fell by 1.2% in the euro area and by 0.6% in the EU27 but the non-food sector fell even more by 3.3% and 2% respectively. Retail trade fell in fourteen countries and rose in seven. The biggest fall in retail trade was in Spain with -10.5%.

Industry Producer Prices Fall By 0.2% Across EU

The industrial producer prices index, that reflects price changes at the factory gates of Europe, fell by 0.2% in both zones (EA17 & EU27) during March as compared with February according to the latest statistical bulletin from Eurostat, the statistical office of the European Union. The annual comparison between March 2012 and March 2013 shows that industrial producer prices increased 0.7% in both zones.

The monthly comparison shows that energy prices fell by 0.6% in both zones and capital goods were stable while non-durable goods prices increased by 0.1% in both zones. Intermediate goods prices increased by 0.1% in the euro area and were unchanged in the EU27. Durables prices rose by 0.1% in the euro area but fell by 0.1% in the EU27.

In March 2013 compared with March 2012 total industry prices excluding energy rose by 1% in the euro area and 1.1% in the EU27. Durables gained 0.6% in both zones and intermediate goods prices gained 0.4% in both zones. Non-durables prices increased by 2.1% in the euro area and 2.3% in the EU27 and capital goods prices increased by 0.7% and 0.8% respectively.

Euro Inflation Down 0.1%

Annual inflation in Europe in March, measured by HICPs, fell by 0.1% in both zones to 1.7% in the euro area and 1.9% in the EU27 from 1.8% and 2% respectively in February. Euro area monthly inflation (MUICP) was 1.2% in March and in the EU27 inflation for March was 0.9%.

Greece had the lowest annual inflation rate in March at -0.2%. Latvia reported -0.3%. The highest annual rate of inflation was in Romania with 4.4%. The UK reported no figures. Electricity (0.17%) and package holidays (0.12%) had the biggest impact in inflation while the biggest downward effects came from transport (-0.23%) and telecommunications (-0.22%).

European Industrial Production Up By 0.4%

Industrial production in Europe increased by 0.4% in both the euro area and the EU27 in February 2013 compared with January. Production fell in January by 0.6% and 0.5% respectively. The annual comparison shows a fall in production of 3.1% in the euro area and 2.5% in the EU27.

Industrial Production Is Down 0.4% In Europe

Industrial production fell in both the euro area and the EU27 in January by 0.4% in both zones. In December they both grew.

Durable consumer goods production fell by 1.4% in the euro area and by 0.4% in the EU27 in January 2013 compared with December 2012. Non-durables invcreased by 0.9% and 1.3% respectively. Capital goods fell by 1.2% in both zones. Intermediate goods production grew by 0.1% in the euro area but fell by 0.1% in the EU27. Energy production decreased by 1% in the euro area and by 1.2% in the EU27.

The data available tells us that in Jnuary compared with December industrial production rose in nine countries and fell in nine. The highest increases were in Lithuania and Denmark and the largest decreases were in Finland and Luxembourg.

The annual comparison shows that production of durables fell by 5.5% in the euro area and 4.3% in the EU27. Production of non-durables increased by 3.1% and 2.2% respectively. Capital goods fell by 2.6% in both zones and energy production increased by 0.9% in the euro area and remained stable in the EU27. Intermediate goods production fell by 3.1% and 3.4% respectively.

The largest increases over the year were in Bulgaria and Lithuania and the decreases were in Sweden and Finland. There were increases in seven countries and decreases in eleven.

Healthy Life Years To Go

Healthy life years measure the number of years a person can expect to live in a generally healthy condition. At birth, in 2011, men and women in the EU27 could expect to live to 62 years. At 50 people could expect to live another 18 years and at 65 people in Europe culd expect another 9 healthy years of life.

A healthy condition is defined as the absence of limitations to functioning/disability. It is measured by a self-perceived questionnaire asking for the extent of any limitations lasting for over 6 months and caused by a health problem. The indicator of healthy life years measures the number of years a person can expect to live without any serious health problems. It means the respondenets can carry on their usual activities.

At birth, men and women in Sweden and Malta can expect to live to over 70 years. The lowest numbers of healthy life years were 52 in Slovakia and 54 in Slovenia for both men and women. At 50 both women and men were expected to have more than another 20 years in Sweden, Malta and Denmark, Luxembourg, Ireland and the UK. The lowest was Slovakia with 10 years for both men and women. At 65, highest healthy life years were in Sweden with an additional 15 years for women and 14 for men and the lowest Was Slovakia with 3 and 4 years respectively.

Increases In Retail Trade On Europe's High Streets

The volume of retail trade rose by 1.2% in the euro area and by 0.9% in the EU27 in January compared with December according to data from Eurostat. In December trade had fallen by 0.8% and 0.7% respectively. The annual comparison shows that sales fell by 1.3% in the euro area and by 0.9% in the EU27 in January 2013 compared with January 2012.

The monthly comparison shows that the countries with the greatest increases in January were Portugal and Romania with 4.2% with the largest decreases in Denmark (-2%), Malta (1.6%) and Finland (-1.2%). The annual comparison shows that the largest increases were in Belgium (8.4%) and Luxembourg (7.1%) and the biggest decreases were in Slovenia (-7.6%), Bulgaria (-5.5%) and Portugal (-3.9%).

Factory Gate Prices Up In Europe In January

The industrial producer price index for January 2013 rose by 0.6% compared with December 2012 in both the euro area and the EU27 according to a statistical bulletin from Eurostat. The annual comparison saw an increase of 1.9% in the euro area and 1.8% in the EU27 in January 2013 compared with January 2012.

Estimated Fall In EU GDP

The flash estimates of GDP for Europe for Q4 2012 suggest that GDP fell by 0.6% in the euro area and 0.5% in the EU27 quarter on quarter (Eurostat). The annual comparison suggests seasonally adjusted GDP fell by 0.9% in the euro area and 0.6% in the EU27 comaped with Q4 2011. GDP fell by 0.5% in the euro area and 0.3% in the EU27 over the whole of the year 2012.

Industrial Production Growth In Europe

Industrial production grew in both zones in Europe in December compared with November 2012 according to a statistical bulletin from Eurostat. Production in the euro area increased by 0.7% and in the EU27 by 0.5% the release estimated. Production of non-durables grew by 2% in the euro area and 1.3% in the EU27 while durables grew by 2% and 0.4% respectively. Capital goods grew by 1.3% in the euro area and 1.2% in the EU27 but intermediate goods fell by 0.2% and 0.3% respectively. Energy production fell by 1.2% in the euro area and 0.4% in the EU27. The annual comparison estimated that industrial production decreased by 2.4% in the euro area and 2.3% in the EU27. The average production index fell by 2.4% in the euro area and by 2.1% in the EU27.

Industrial Prices Fall In December But Increase Over The Year

The industrial producer price index published by Eurostat fell by 0.2% in both the euro area and the EU27 in December compared with November 2012. The index increased 2.1% in the euro area and 1.9% in the EU27 using the annual comparison for December. The average industrial producer price index for the whole of 2012 compared with 2011 increased by 2.6% in the euro area and 2.7% in the EU27.

Total industry prices excluding energy were stable in both zones in December. Capital goods and intermediate goods remained stable. Durable consumer goods decreased by 0.1% in both zones and non-durable goods increased by 0.1% in both zones.

Prices fell in most Member States for which data was available except Belgium and Sweden (+1.2%) and Finland (+0.2%). Bulgaria, Denmark, Cyprus and Austria recorded the largest decreases over the month. Over the year, total industry prices, excluding energy, increased by 1.6% in both zones.

European Household Saving Stable In Q3

Household income remained stable in Europe in the third quarter of 2012 with the gross saving rate of households at 11.2% (compared with 11.1% in Q2) in the EU27 and 13% (12.9%) in the euro area.

The gross investment rate of households was 8% (8.1%) in the EU27 and 8.9% (8.9%) in the euro area. In nominal terms, the euro area household income increased by 0.3% and consumption by 0.2% while investment fell by 0.3%. Household income per capita fell by 0.3% as nominal income per capita increased by 0.2% but prices increased by 0.5%. Household consumption per capita decreased by 0.4%.

Business Investment Is Down In Europe

The business investment rate in Europe fell in the third quarter of 2012. The rate fell in both zones, in the euro area by 19.9% compared to 20.2% in the second quarter and in the EU27 by 19.6% compared with 19.9% in the second quarter. In the euro area investment decreased -0.7% but gross value added increased 0.4%. Stocks fell for the fourth consecutive quarter. The gross profit share was almost unchanged in both zones, 37.6% (37.7%) in the EU27 and 38% (38.1%) in the euro area.

Industrial Production Continues To Fall

Production fell by 0.3% in both the euro area and the EU27 in November 2012 compared with October according to a statistical bulletin from Eurostat. Production had also fallen in October by 1% in the euro area and 0.8% in the EU27. Using the annual comparison, industrial production fell by 3.7% in the euro area and by 3.3% in the EU27.

Looking at the main components of the monthly index energy production fell by 1.6% in the euro area and 0.7% in the EU27. Durable consumer goods production fell by 1.1% in the euro area and by 1.4% in the EU27, non-durables fell by 1.2% in both zones. Intermediate goods fell by 0.3% and 0.4% respectively. Capital goods was the only component part to show any growth. There was 0.7% growth in capital goods production in the euro area and 0.5% in the EU27.

Over the year to November 2012 durables fell by 7.7% in the euro area and 6.8% in the EU27, non-durables by 3% and 2.7% respectively. Intermediate goods production fell by 4.8% and 4.3% respectively. Capital goods fell by 4.4% in the euro area and 3.7% in the EU27 but energy production increased by 0.5% in the euro area but fell in the EU27 by 0.6%.

Business And Consumers In Europe Still Confident

The Business Climate Indicator (BCI) for the euro area increased slightly in December by .05 to -1.12 due to positive assessments of production expectations and order books.

The Economic Sentiment Indicator (ESI) improved by 1.3 points to 87 from 85.7 in the euro area in December and remained more or less unchanged in the EU27 at 88.4 from 88.1. Economic sentiment in the euro area improved among consumers and in all sectors except retail trade. In the EU27 economic sentiment increased in industry and construction but these were partly offset by decreases in services and retail trade. Consumer confidence in thne EU remained unchanged.

Factory Gate Prices Down In Europe In November

Factory gate prices in both the euro area and the EU27 fell by 0.2% in November 2012 compared with October 2012 according to a statistical bulletin from Eurostat. November 2012 compared with November 2011 shows an increase of 2.1% in the euro area and 1.9% in the EU27.

While annual inflation in producer prices in November 2012 increased by 1.5% in both the euro area and the EU27, the monthly analysis shows that in November total industry inflation, excluding energy, fell by 0.1% in the euro area and remained stable in the EU27. Energy sector prices fell by 0.7% in the euro area and by 1.1% in the EU27.

In both zones, intermediate goods decreased by 0.2% in November and capital goods increased by 0.1%. Durable consumer goods increased by 0.1% in the euro area and remained stable in the EU27 and non-durable consumer goods increased by 0.1% in the euro area and 0.2% in the EU27.

Energy prices increased by 4.1% over the year in the euro area and 2.9% in the EU27. Durable consumer goods increased by 1.1% in both zones while non-durable consumer goods increased by 2.3% in the euro area and 2.6% in the EU27. Intermediate goods increased by 1.4% in the euro area and 1.2% in the EU27 and capital goods increased by 1% in the euro area and 0.9% in the EU27.