GDP growth in the euro area and EU: In the third quarter of 2020, seasonally adjusted GDP increased by 12.5% in the euro area and by 11.5% in the EU compared with the previous quarter, according to an estimate published by Eurostat, the statistical office of the European Union. These were by far the sharpest increases observed since time series started in 1995, and a rebound compared with the second quarter of 2020, when GDP had decreased by 11.7% in the euro area and by 11.3% in the EU.
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GDP main aggregates and employment estimates for the third quarter of 2020: GDP up by 12.5% and employment up by 1.0% in the euro area
GDP growth in the euro area and EU: In the third quarter of 2020, seasonally adjusted GDP increased by 12.5% in the euro area and by 11.5% in the EU compared with the previous quarter, according to an estimate published by Eurostat, the statistical office of the European Union. These were by far the sharpest increases observed since time series started in 1995, and a rebound compared with the second quarter of 2020, when GDP had decreased by 11.7% in the euro area and by 11.3% in the EU.
Volume of retail trade up by 1.5% in both euro area and EU
In October 2020, the seasonally adjusted volume of retail trade rose by 1.5% in both the euro area and the EU, compared with September 2020, according to estimates from Eurostat, the statistical office of the European Union. In September 2020, the retail trade volume fell by 1.7% in the euro area and by 1.3% in the EU.
Industrial producer prices up by 0.4% in the euro area and by 0.3% in the EU
In October 2020, industrial producer prices rose by 0.4% in the euro area and by 0.3% in the EU, compared with September 2020, according to estimates from Eurostat, the statistical office of the European Union. In September 2020, prices increased by 0.4% in the euro area and by 0.3% in the EU.
Euro area unemployment at 8.4%
In October 2020, the euro area seasonally-adjusted unemployment rate was 8.4%, down from 8.5% in September 2020 and up from 7.4% in October 2019. The EU unemployment rate was 7.6% in October 2020, stable compared with September 2020 and up from 6.6% in October 2019. These figures are published by Eurostat, the statistical office of the European Union.
Euro area annual inflation stable at -0.3%
Euro area annual inflation is expected to be -0.3% in November 2020, stable compared to October according to a flash estimate from Eurostat, the statistical office of the European Union.
Production in construction down by 2.9% in euro area and by 2.5% in EU
In September 2020 compared with August 2020, seasonally adjusted production in the construction sector decreased by 2.9% in the euro area and by 2.5% in the EU, according to first estimates from Eurostat, the statistical office of the European Union. In August 2020, production in construction increased by 3.9% in the euro area and by 3.5% in the EU.
A broad set of indicators for early detection of macroeconomic imbalances
Eurostat, the statistical office of the European Union, publishes today the indicators of the Macroeconomic Imbalance Procedure (MIP) Scoreboard. The MIP is part of the Six-Pack regulation on economic governance adopted by the European Parliament and Council in November 2011.
Annual inflation stable at -0.3% in the euro area
The euro area annual inflation rate was -0.3% in October 2020, stable compared to September. A year earlier, the rate was 0.7%. European Union annual inflation was 0.3% in October 2020, stable compared to September. A year earlier, the rate was 1.1%. These figures are published by Eurostat, the statistical office of the European Union.
Total agricultural output in the EU up by 2.4% in 2019
The economic accounts for agriculture show that total agricultural output in the European Union (EU) stood at €418.0 billion in basic prices in 2019, up by 2.4% compared with 2018. In 2019, the equivalent of 56.6% (or €236.5 bn) of the value of agricultural output generated was spent on intermediate consumption (input goods and services), while gross value added (i.e. the value of output minus the value of intermediate consumption) was the equivalent of 43.4% (or €181.5 bn). The combination of the increase in the value of agricultural output and a limited increase in intermediate consumption (+0.8%) resulted in a strong increase in the gross value added (+4.5%) generated by the EU agricultural industry in 2019 compared with 2018.