Euro Inflation Down To 0.3%

Euro area annual inflation was 0.3% in September 2014, the lowest rate since October 2009 according to Eurostat. In August the rate was 0.4%. In September 2013 the rate was 1.1%. The monthly inflation rate in September 2014 was 0.4%.

In The European Union as a whole annual inflation was 0.4% in September 2014 down from 0.5% in August. It is the lowest rate since September 2009. In September 2013 the rate was 1.3%. The monthly rate in September 2014 was 0.3%.

High negative inflation growth was reported in Bulgaria (-1.4%) and Greece (-1.1%) and high annual rates were reported in Romania (1.8%), Finland (1.5%) and Austria (1.4%).

New Economic Globalisation Indicators From Eurostat

Eurostat has published a new set of economic indicators because of the new needs created by the globalisation of the world economy. Five aspects of economic globalisation have been identified: international trade, foreign direct investment (FDI), employment, the value added of MNEs and the internationalisation of technology.

Twelve indicators in total are included in the framework: imports of goods and services as % of GDP, exports of goods and services, export/import ratio; inward FDI stocks as % of GDP, outward FDI stocks as % of GDP, FDI flows intensity; employment in foreign controlled enterprises as a share of total domestic employment, employment development in foreign controlled enterprises, employment development in foreign affiliates; R & D expenditure in foreign controlled enterprises as a share of total R & D expenditure; value added in foreign controlled enterprises as a share of total value added and value added development in foreign controlled enterprises.

The Europe 2020 initiatives included having an industrial policy for the globalisation era to support the development of a strong and sustainable base to compete globally. These indicators are an essential part of making the policy effective.

Industrial Production In Europe Down By 1.1%

Industrial production fell in May 2014 compared with April 2014 across Europe according to a statistical bulletin from Eurostat. The fall was 1.1% in both zones. In April both zones increased their index by 0.7%. The annual comparison of May 2014 with May 2013 shows that industrial production grew by 0.5% in the euro area and 1.1% in the EU.

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.

European Output Up 0.1%, Eurozone Down 0.2%

In January 2014 industrial production in the euro area fell by 0.2% and increased by 0.1% in EU28 according to a statistical release from Eurostat. In December 2013 industrial production fell in both zones. The annual comparison for January suggests that industrial production increased by 2.1% in the euro area and 2.4% in the EU28.

European Retail Trade Up 1.6% In January

European retail volumes were up by 1.6% in the euro area in January compared with December 2013 according to Eurostat. The EU28 reported increases of 0.9%. In January 2014 compared with January 2013 retail trade increased by 1.3% and 1.9% respectively.

The increase in the monthly comparison in the euro area is due mainly to increases in the non-food sector of 1.9%, 1.5% for automotive fuel and 1.1% for food, drinks and tobacco. In the EU 28 the rise is due to an increase of 1.4% for automotive fuel, 1.3% for non-food sector and 0.3% for food, drinks and tobacco.

The main contributors to the 1.3% increase in the volume of retail trade in the annual comparison in the euro area were increases of 2.9% for automotive fuel, 2.5% in the non-food sector while food drinks and tobacco fell by 0.4%. In the EU28 the 0.9% increase was due to increases of 3.6% in the non-food sector, 2.1% in automotive fuel and 0.1% in food, drinks and tobacco.

European Production Up 1.8%

Industrial production increased by 1.8% in the euro area between October and November 2013 according to a statistical bulletin from Eurostat. Production also increased across the EU as a whole with growth of 1.5% in the EU28. Production had decreased in October by 0.8% and 0.5% respectively. Ireland reported the biggest increase with 11.7%. There was monthly growth in all 5 sectors - capital goods, durable consumer goods, energy, non-durable consumer goods and intermediate goods.

There was an annual increase of 3% in both the euro area and the EU28 with the largest increases reported in Ireland with growth of 13.2% and Slovakia with 12.7%. Over the year capital goods increased by 4.4% in the euro area and 4.7% in the EU28. Intermediate goods grew by 3.3% and 3.5% respectively and non-durable goods grew by 3.1% and 2.7% respectively. Energy decreased by 0.5% in the euro area and 1.4% in the EU28 and durable consumer goods fell by 0.8% and 0.3% respectively.

UK Inward Investment At All Time High

The UK's International Investment Positions (IIP) were published recently by the ONS. Inward investment reached a record high of £936bn in 2012 and outward investment stood at £1,088bn, similar to the levels of 2011. Inward investment means investment in the UK by foreign companies and outward investment means investment abroad by UK companies.

UK companies net investment flows overseas decreased from £60.1bn in 2011 to 26.5bn in 2012. Investment flows to Europe show a disinvestment of £0.7bn in 2012, quite a decrease from the £27.3bn in the previous year. Net earnings from overseas investments by UK companies decreased from £100bn in 2011 to £80.2bn in 2012.

Foreign companies continued to increase their investment in the UK during 2012. Net investment flows increased from £28.9bn in 2011 to £35.4bn in 2012. Net earnings by foreign companies investments in the UK decreased slightly from £44.4bn in 2011 to £42.7bn in 2012.

UK FDI statistics are produced in accordance with international standards set by OECD and IMF and their definitions of FDI and balance of payments respectively. FDI estimates are important for measuring the UK balance of payments and they are used by a number of Government departments for briefing and policy purposes. International organisations like Eurostat, UNCTAD, OECD and the IMF also use the FDI figures for policy, analysis and negotiations and the estimates are also widely utilised by commercial companies, academics and independent researchers.

Quarter Of Europeans At Risk Of Poverty Or Social Exclusion

The reduction of the number of people at risk of poverty or social exclusion is one of the key targets of the EU's Europe 2020 strategy yet a quarter of the population of the EU, 24.8% or 124.5m people, were at risk of one of three conditions: at risk of poverty; severley materially deprivation; or living in households with very low work intensity.

The figures are from Eurostat and are based on the EU-SILC survey. Each of the three elements contributing to being at risk of poverty or social exclusion can be looked at separately. It can be seen that 17% of the EU28 population's disposable income was below their national poverty threshold levels. In other words they were at risk of poverty after social transfers.

Severe material deprivation was experienced by 10% of the EU which means that their living conditions were severely constrained by a lack of resources. They could not pay their bills, keep the home warm of take a one week holiday away from home.

The third condition, living in households with very low work intensity was reported by 10% of population of the EU28. What it means is that 10% of the people lived in households where the adults worked less than 20% of their work potential during the past year.

European Inflation 0.9%

Euro area annual inflation was 0.7% in October down from 1.1% in September 2013 while European Union inflation was 0.9% down from 1.3%. Euro area monthly inflation was -0.1% in October and monthly inflation in the European Union as a whole was -0.1% in October.

New Pocketbook Of Agricultural Statistics

There are some interesting statistics in the new Pocketbook on agriculture, forestry and fisheries statistics.

France is the main producer of cereals in the EU28 with 285m tonnes or 24% of the total, Germany produced 16% (45.4m tonnes) and the UK contributed 19.5m tonnes or 7%. France was also the biggest producer of common wheat with 28% of total EU28 production, grain maize (26%) and barley (21%). Germany was the main rye and maslin producer with 43%.

The largest quantity of cow's milk was produced by Germany with 29.7m tonnes or 21% of total EU28 production then France with 24.4m tonnes or 17% and the UK with 13.6m tonnes or 10%. The UK was the biggest producer of drinking milk with 6.9m tonnes or 22% of EU28 production. Germany was the biggest producer of cheese (23%), cream (21%) and butter (23% in the EU28 with France following with 21%, 16% and 20% respectively.

Increase In Factory Gate Prices In Europe In September

Industrial producer prices in Europe went up by 0.1% in both the euro area and the EU28 in September compared with August 2013 according to a statistical bulletin from Eurostat. Over the year to September 2013 industrial producer prices fell by 0.9% in the euro area and 0.5% in the EU28.

Prices in total industry excluding energy fell by 0.1% in both zones over the month. Energy prices increased by 0.5% in the euro area and by 0.4% in the EU28. Consumer durables increased by 0.1% in both zones and capital goods and non-durable consumer goods remained unchanged but intermediate goods fell by 0.1%.

Over the year, total industry prices excluding energy fell by 0.1% in the euro area and rose by 0.1% in the EU28. Energy prices decreased by 2.7% and 2.4% respectively. Intermediate goods fell by 1.5% in the euro area and 1.3% in the EU28 Capital goods increased by 0.6% and 0.7% respectively. Durables increased by 0.8% in the euro area and 0.5% in the EU28 and non-durables increased by 1.6% and 1.8% respectively.

Retail Volumes Increase In Europe

Retail trade volumes were up by 0.7% in the euro area in August compared with July 2013 according to estimates from Eurostat. In the EU28 volumes were up by 0.4%. In July both zones reported increases of 0.5%. Over the year the retail index fell by 0.3% in the euro area but increased by 0.3% in the EU28.

Annual Increase Of 0.8% In Industrial Prices In EA

Industrial producer prices remained stable in the euro area in August 2013 according to a statistical release from Eurostat, compared with an increase of 0.2% in July. However, in the EU28 factory gate prices increased by 0.1% compared with an increase of 0.4% in July.

The annual comparison for August 2012 and 2013 shows that prices increased by 0.8% in the euro area over the year and in the EU28 by 0.3%.

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.

European Current Account 21.8bn Euro Surplus

The latest EU balance of payments figures published by Eurostat show that the EU27 recorded a current account surplus of 21.8bn euro in Q1 of 2013. In the first quarter of 2012 there was a deficit of 7.7bn.

The 32.8bn euro deficit on goods in Q1 2012 became a surplus of 0.8bn euro in Q1 2013. The surplus on services fell from 31.2bn euro to 29.8bn euro.

Europes High Streets See Decline In Trade In April

The volume of trade on he High Streets of Europe fell by 0.5% in the euro area and by 0.7% in the EU27 in April 2013 according to Eurostat monthly figures comparisons. Their annual comparison saw sales fall by 1.1% in the euro area and by 0.6% in the EU27.

The value of trade in April fell by 0.5 points from 96.6 to 96.1 in the euro area and from 98.6 in March to 97.9 in April 2013.

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.

Euro Inflation Continues To Fall

Euro area inflation was 1.2% in April 2013 compared with 1.7% in March. The inflation rate was 2.6% in April 2012. EU27 inflation also continues to fall from 1.9% in March to 1.4% in April 2013. It was 2.7% in April 2012.