Growth in the EU is “coming to a virtual standstill”

“Growth in the second half of 2011 is now expected to be subdued, coming to a virtual standstill towards the end of the year.” So says a new Interim Forecast produced by the European Commission today. The Commission noted that GDP grew strongly in the first quarter of 2011, but slowed down substantially in the second, and pointed out the … Continue reading

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OECD unemployment stabilises

Latest figures from Paris this morning show that the OECD unemployment rate stabilised at 8.8% in December 2009. This was unchanged from the previous month but was up by 1.8 percentage points from the same month a year earlier.   Given that unemployment is a lagging indicator, and normally continues rising after a recession has come to an end, it … Continue reading

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Inflation down and production up in EU

Inflation in the sixteen countries making up the Euro area was -0.1% in June, which was down from 0.0% in May. Twelve months ago the inflation rate stood at 4.0%. In the wider EU27 annual inflation was 0.6% in June 2009, which was down from 0.8% in May. Twelve months earlier the figure was 4.3%.   There is still a … Continue reading

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Euro unemployment up, inflation down – will interest rates be cut this afternoon?

Unemployment in the 16 countries of the euro area rose to 8.5% in February from 8.3% in January, according to figures published yesterday by eurostat. The figure was 7.2% in February 2008. The unemployment rate for the 27 countries of the EU was 7.9% in February, up from 7.7% in January and compares with a figure of 6.8% in February … Continue reading

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