House Prices Fall In Euro Area

House prices in the euro area fell by 0.3% as measured by the House Price Index (HPI) and increased by 1% in the EU during the first quarter of 2014 compared with the same period last year. When compared with the fourth quarter of 2013 the HPI fell by 0.3% in the euro area and rose by 0.2% in the EU according to Eurostat.

The biggest annual falls in house prices according to the HPI were in Croatia with -9.7%, Slovenia -6.6% and Cyprus -5.7%. The biggest increases were in Estonia with 17.5% and Latvia with 10.4%. The UK was next with an increase of 8%. The biggest falls over the quarter were in Croatia with -2.7%, Luxembourg with -2.3% and Slovenia -1.7%. THe highest increases were in Estonia with an increase of 4.8%, Sweden with an increase of 2.4% and the UK with an increase of 2.2%.

Retail Trade Volumes Up 0.3% Across Europe

March 2014 saw retail trade increase across Europe by 0.3%. In February the increase in trade had been 0.1% in the euro area and 0.3% in the EU28. The annual comparison shows that in March 2014 compared with March 2013 the increase was 0.9% in the euro area and 1.6% in the EU28.

The 0.3% increase in the volume of retail trade on the monthly comparison in the euro area is due to a rise of 1.3% in the food, drinks and tobacco sector while the volume fell by 0.3% in the non-food sector and 0.1% in automotive fuel. In the EU28 the rise was due t rises of 1% for automotive fuel and 0.7% for food, drinks and tobacco.

The biggest increases were seen in Estonia and Latvia with 2.8%, France 2.3% and Romania with 2.2%. The decreases were in Portugal with a decrease of 1.7%, Austria with 0.9%, Germany, Ireland and Slovenia all with 0.7%.

The increase of 0.9% in volume over the year was due to rises of 1.9% in the non-food sector, 0.3% in automotive fuel and 0.3% in food, drinks and tobacco in the euro sector. The increase of 1.6% in the volume of retail trade in the EU28 was due to rises of 3.3% in the non-food sector and 1.8% for automotive fuel. Food, drinks and tobacco fell by 0.1%.

Romania saw the biggest increase with a rise of 13.4% in volume, Luxembourg was next with 12.1% and Hungary with 8.4%. Malta with -2%, Finland with -1.3%, Slovenia -1.1% and Spain with -0.6% saw the biggest decreases in volume of retail trade.

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.

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 Inflation Falls In October

Inflation in Europe fell in October according to Eurostat. Euro area inflation fell 0.1% from 2.6% in September to 2.5% in October. EU annual inflation was 2.6% in October down from 2.7% in September. The annual comparison also shows a decrease in inflation in the euro area from 3% and in the EU27 from 3.4% last year. The lowest annual rates in October were seen in Greece, Sweden and Latvia and the highest in Hungary, Romania and Estonia. The lowest annual averages were in Sweden, Greece and Ireland and the highest in Hungary, Estonia and Poland. In the euro area the main components for annual rates were transport, alcohol and tobacco and housing and the lowest in communiactions, recreation and culture, clothing and household equipment. The monthly rate were mainly affected by clothing and education, alcohol and tobacco and the lowest for transport, communications, recreation and culture and hotels and restaurants.

Producer Prices Up Across Europe

Industrial producer prices (IPP) rose across Europe in August in both zones. In the euro area the IPP rose by 0.9% and in the EU27 by 1%. Both zones increased by 0.3% in July. Compared with 2011 the IPP increased by 2.7% in both zones. The main differences were in the energy sector with a 2.4% and 3.2% increase in the euro area and the EU27 respectively and in intermediate goods with increases of 0.5% in the euro area and 0.4% in the EU27. The highest increases in producer prices were to be found in Denmark (2.9%), the UK (1.8%) and Finland (1.7%). The lowest increases wwere found in Slovenia (0.1%) and Latvia (0.3%).

Retail Trade Down Across Europe

In April compared with March 2012 retail trade fell across Europe by 1% in the euro area and by 1.1% in the EU27. When compared with April 2011 retail trade fell by 2.5% in the euro area and by 1.9% in the EU27. The food sector fell by 2.3% in the euro area and by 2.4% in the EU27 and the non-food sector fell by 2.1% and 0.7% respectively. The volume of retail trade fell in twelve of the Member States and grew in nine. The largest decreases were in Spain (-9.6%), Portugal (-9.3%) and Malta (-4.6%) and the greatest increases were in Estonia (8.5%), Latvia (7.8%) and Romania 3.4%).

Retail Volumes Increase Across Europe

The volume of retail trade has increased by 0.3% in the euro area during March compared with February and by 0.7% in the EU27. In Bulgaria sales increased by 3.9% and in Poland by 2.6%. In western Europe sales laos incresaed in Austria and the UK both by 1.9%. Retail trade decreased in Portugal (-2.2%) and Estonia (-2%) and Slovenia -1.4%). The changes in both areas were mainly due to fluctuations in the non-food products sectors. Over the year from March 2011 to March 2012 retail sales fell by 0.2% in the euro area but grew in the EU27 by 1%. The biggest increases were in Latvia (10%), Estonia (9.3%) and Luxembourg (7.2%) andf the biggest decreases were in Portugal (-5%), Spain (-3.9%) and Malta (-2.7%). The changes were due to a fall of 0.3% in sales in the food, drinks and tobacco sector in the euro area and increases of 0.3% in the euro area and 2.2% in the EU27 in the non-food sector.

Retail Sales Down 0.4% In Euro Area

Euro area retail trade fell by 0.4% in terms of volume in December 2011 compared with November while it grew by 0.3% in the EU27 over the same period. Food, drinks and tobacco fell by 0.2% in the euro area and grew by 0.3% in the EU27. Non-food sector categories grew by 0.3% in the EU27 but fell by 0.1% in the euro area.

Total retail trade fell in eleven states and grew in eight states remaining stable in Ireland and Sweden. The highest increases were in Portugal (2.2%), Belgium (1.5%) and Poland (0.7%) and the biggest decreases were in Malta and Slovenia (both -3.1%) and Latvia (-2%).

The annual comparison shows that in December 2011 compared with December 2010 the food, drinks and tobacco sector fell by 1.3% in the euro area and 0.6% in the EU27 and the non-food sector decreased by 1.5% in the euro area but grew by 0.8% in the EU27. The total retail sales index for the EU27 shows growth of 0.1% but in the euro area a fall of 1.6%.

Trade fell in ten states but rose in eleven. The largest increases were in Lithuania (13%), Latvia (7.1%) and the UK (6.3%). The biggest falls in trade were recorded in Portugal (-8.8%), Spain (-5.3%) and Slovakia (-3.3%) (Eurostat).

Producer Prices Up In Europe

The industrial producer prices index by Eurostat increased by 0.2% in the euro area in November 2011 and by 0.3% in the EU27 compared with October. When compared with November 2010 the index went up by 5.3% in the euro area and by 6.3% in the EU27.

Total industry prices excluding energy fell by 0.1% in the euro area and remained stable in the EU27 in the monthly comparison. Energy prices increased by 0.9% and 0.1% respectively. Non-durable consumer goods increased by 0.3% in both areas and durables by 0.2%. Intermediate goods fell by 0.4% and 0.3% respectively and capital goods remained stable.

In the annual comparison total industry prices increased by 3% in the euro area and by 3.3% in the EU27. Energy prices increased by 12.3% and 13.8% respectively. Prices in the non-durable goods sector increased by 3.6% in the euro area and 4.2% in the EU27, intermediate goods by 3.5% and 3.8% respectively, durables by 2.6% in both zones and capital goods by 1.4% in the euro area and by 1.5% in the EU27.

Sweden reported the largest increases on the monthly comparison with 1.6%, followed by the UK, Ireland and Greece. Using the annual comparison, the greates increases were in the UK with 11.6% followed by Lithuania (10.8%) and Latvia (9.1%).

September Retail Trade Down In Europe

The volume of retail trade in Europe fell in both the euro zone and the EU in general in September when compared with August 2011. The year on year retail sales index also fell in both areas.

Volume fell by 0.7% in the euro area and 0.3% in the EU27 during the month between August and September. The non-food sector fell by 0.8% in the euro area and 0.9% in the EU while food, drink and tobacco remained unchanged in the euro area and rose by 0.1% in the EU27. The total retail trade index fell in 11 of the member states and rose in 8. The highest decreases were in Portugal (-3.7%), Slovenia (-2.1%) and Spain (-1.7%) and the largest increases were in Poland (2.4%), UK (1%) and Latvia (0.9%).

The index fell by 1.5% in the euro area and 0.8% in the EU27 when comparing 2010 and 2011. The food category fell by 0.5% in the euro area and 0.4% in the EU as a whole. The non-food sector fell by 1.9% and 0.8% respectively. The highest decreases were in Malta (-7.5%), Portugal (-6.2%) and Spain (-5.8%). The highest increases were in Lithuania (10.6%), Luxembourg (8.3%) and Latvia (8.1%).

Poverty And Social Exclusion In Europe

Eurostat has released details of a new publication 'Income and living conditions in Europe' issued in connection with the closing conference of the European Year for Combating Poverty and Social Exclusion due to take place 16-17 December 2010. It is based on data from the EU-SILC survey.

One of the key targets of the Europe 2020 strategy is to lift at least 20m people in the EU27 out of the risk of poverty or social exclusion. Progress towards this is measured using a combination of three measures: persons at risk of poverty; severely materially deprived persons and persons living in households with very low work intensity. In 2008 nearly 116m people in the EU27 were affected by at least one of the three criteria of social exclusion and nearly 7m fall under all three criteria.

In the EU27 16.5% of the population, a total of 81m people, were at risk of poverty after social transfers. The country with the highest percentage of the total population in this category was Latvia (25.6%), the lowest percentage was in the Czech Republic (9%). In the UK 18.8% of the population or 11.4m people fell into this category.

Bulgaria (41.2%) had the highest percentage of severely materially deprived persons and lowest percentage was in Luxembourg (0.7%). In the EU27 8.5% of the population or 41.5m people fell into this category. The UK figure was 4.5% or 2.7m people.

Ireland (13.6%) had the highest percentage of people living in households with very low work intensity. The lowest percentage was in Cyprus (4.1%). In the UK 4.8m people, 10.2% of the population, were in this category. The EU27 percentage was 9%. The total number of people in this category in the EU27 was 34.2m.

An Increase In European Inflation In July

Euro area inflation (MUICP) was 1.7% in July 2010 comapred with 1.4% in June and EU annual inflation (EICP) was 2.1% compared with 1.9% in June. The lowest rates were in Ireland (-1.2%), Latvia (-0.7%) and Slovakia (1%) and the highest were in Romania (7.1%), Greece (5.5%) and Hungary (3.6%).

Consumer Inflation Falling Across Europe

Euro area inflation in June 2010 was 1.4% down from 1.6% in May. EU annual inflation was 1.9% in June from 2% in May. It was 0.6% a year ago.

The lowest annual inflation rates among Member States in June 2010 were in Ireland with -2% and Latvia with -1.6%. Greece had the highest inflation rate with 5.2% followed by Hungary with 5% and Romania with 4.3%. Inflation fell in 15 Member States, remained stable in 4 and grew in 8.

The things that added most to annual inflation in the euro area were transport and alcohol and tobacco. The lowest rates were in communications, recreation and culture and food. Monthly inflation was mostly affected by increases in alcohol and tobacco and hotels and restaurants. The lowest increases were in clothing, transport and communication.

Euro Industry Increases Production By 0.9%

Industrial production in the euro area (EU16) increased by 0.9% over the month to May 2010 and by 9.4% over the year. In the EU27 production grew by 0.5% over the month and by 8.7% over the year to May 2010.

The production of durable consumer goods increased by 2.4% in the euro area and by 1.8% in the EU27 in May compared with April. Capital goods increased by 1% and 1.7% respectively and intermediate goods by 0.8% in both the euro area and the EU27. Energy production increased by 0.6% and 1.3% in the euro area and the EU27 respectively and non-durables grew by 0.6% and 0.9%. Production increased in 16 Member States and fell in 6. The highest increase was in Ireland with 7.5%.

Over the year from May 2009 to May 2010 production of intermediate goods increased by 14.7% in the euro area and 13.7% in the EU27. Capital goods increased by 8.6% and 9% in the euro area and the EU27 respectively. Energy production increased by 5.7% and 4.3%. Durables grew by 6.3% in the euro area and 7.7% in the EU27 and non-durables by 3.7% and 3.3% respectively. Industrial production increased in all Member States over the year with the biggest increases in Estonia with 17.2% and Luxembourg with 13.5% and Sweden with 13.4%, Latvia with 13.2% and Germany with 13.1%.

Shares Of Renewable Energy In Total Consumption

Renewable energy seems to have contributed 10.3% of gross final energy consumption in the EU27 in 2008. It compares with 9.7% in 2007 and 8.8% in 2006. Individual targets are set for all Member States by the 2009 Directive so that the EU will reach a target of 20% share of total energy consumption for renewable energy sources by 2020.

Renewable energy shares vary widely among Member States. Sweden had the highest share of renewable energy in total consumption in 2008 with 44.4%, Finland had 30.5%, Latvia had 29.9%, Austria 28.5% and Portugal had 23.2%. The lowest was Malta with 0.2%. The UK was third lowest with 2.2% of renewable energy in total consumption. All Member States increased their share of renewable energy in total consumption between 2006-8. The largest increases were in Austria from 24.8% to 28.5%, Estonia from 16.1% to 19.1%, Romania from 17.5% to 20.4%, Portugal from 20.5% to 23.2% and Slovakia from 6.2% to 8.4%.

Volume Of Retail Trade In Europe

The volume of retail trade in May compared to April 2010 increased by 0.2% in the euro area and 0.4% in the EU27. The May 2010 on May 2009 volume increased by 0.3% and 0.5% respectively.

In May 2010 compared to April 2010, food, drink and tobacco went up 0.2% in the euro area and 0.3% in EU27, non-food increased 0.4% and 0.5% respectively. The greatest increases were in Denmark, Poland and Estonia and the greatest decreases in Malta and Portugal.

Over the year from May 2009 to May 2010 food, drnk and tobacco increrased 0.3% in the euro area and 0.2% in the EU27 and non-food 1% and 1.9% respectively. The highest increases were in France, Sweden and UK and the greatest decreases were in Lithuania, Bulagaria and Latvia.

Industrial PPI In May

The industrial PPI in the euro area went up in May 2010 compared to April by 0.3% and in the EU27 by 0.2%. Comparing May 2010 with May 2009 industrial PPI went up 3.1% in the euro area and 3.7% in the EU27.

In May compared with April 2010 total industry prices excluding energy went up by 0.4% in the euro area and 0.5% in the EU27. Intermediate goods increased by 0.8% in both zones. Consumer durables went up 0.2% in euro area and 0.3% in the EU27. Non-durable consumer goods (incl.fmcgs) went up by 0.1% in the euro area and 0.3% in the EU27. Capital goods went up 0.1% and 0.2%. Prices remained unchanged in the euro area but fell by 0.3% in the EU27. Hungary's index went up 3.4%

The industrial PPI (excl. energy) for May 2010 compared with May 2009 increased by 1.7% in the euro area and 1.8% in the EU27. Intermediate goods increased by 3.9% and 3.8% respectively. Consumer durables went up 0.7% in euro area and 1% in the EU27. Non-durable consumer goods (incl.fmcgs) fell by 0.1% in the euro area and 0.2% in the EU27. Capital goods went up 0.2% in the euro area and 0.5% in the EU27. Energy prices went up 7% in the euro area and 8.6% in the EU27. Malta's total index increased by 17%. There were decreases in Slovakia (-3.1%) and Latvia (-1.2%).

Environmental Protection Expenditure 1.8% GDP

Data regarding Environmental Protection Expenditure (EPE) from Eurostat shows the efforts being made to combat the pollution that is the result of the production and consumption of goods and services. EPE is the total investment and expenditure for industry, the public services and specialised producers. The data refer to 2006.

The EPE for the EU25 in 2006 was 1.8% of GDP. Industry spent about 50bn euros in 2006, about 0.4% of GDP, in protecting against environmental pressures. The public sector's share was 0.5% and specialised producers 0.9% of GDP.

In terms of gross fixed capital formation (GFCF) in the EU27, investments in environmental protection were fairly steady at around 1.4% for specialised producers between 2001-6, 0.6% for the public sector and 0.5% in industry, from 0.7%.

Total per capita EPE was highest in Austria in 2005 and the Netherlands in 2001 with around 800 euros per year per person. Italy spend around 600 euros per year per person in 2005. The least was spent by Latvia in 2005 with 36 euros.

2.1% Rise In Euro Labour Costs

Euro area hourly labour costs rose by 2.1% in the year to Q1 2010. In the EU27 the rise was 2.2%. Wages and salaries per hour grew by 2% and the non-wage component by 2.1%. In the EU27 wages and salaries rose by 2.3% and the non-wage component by 1.9%. Statistics from Eurostat Labour Cost Index (LCI) euroindicators.

In the euro area, labour costs per hour in industry increase was 1.8%, in construction 2.1% and in services 2.2% in the year to Q1 2010. In the EU27 labour costs per hour grew by 1.8% in industry, 1.4% in construction and 2.5% in services.

The highest annual increases were in Bulgaria (10.5%) and Romania (7.4%). The highest decreases were in Lithuania (-11%), Latvia (-7.2%), Estonia (5.5%) and the Czech Republic (-3.1%).