Unemployment in the euro area rose to its highest value of establishing a monetary union in January 1999, says statistics from Eurostat. The indicator for September increased by 0.1 percentage points to 9.7%, as were the expectations of analysts. A year ago, unemployment was 7.7%. Across the European Union level indicator has also increased by 0.1% to 9.2%, a record since 2000 when the statistical office has begun to report aggregated data. The number of unemployed is the EU grew by 286 per month to 22.123 thousand million euro only people without permanent employment for 15.324 million, as compared to August the number rose by 184 thousand
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The unemployment in the eurozone grew 9.6 percent in August and reached its highest level since March 1999, already without permanent employment were 15.165 million people showed seasonally adjusted data Evrostat. According to July increase was 0.1 percentage points in a number of  165 thousand unemployed, which coincided with the assumptions of analysts. Throughout the European Union, unemployment also increased to 0.1 percentage points to 9.1 percent, reaching values from March 2004 in 27 countries have remained without work 236 thousand in August to 21 872. For the August 2008 unemployment in the euro area and the entire EU was 7.6 and 7.0%. For a year they are unemployed in the EU increased with only 5 million were released in the eurozone EUR 3.2 million of them.
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The index of business confidence in Germany rose to a 12-month high, according to figures of the Ifo Institute, which refers to Bloomberg. Thus, Europe’s largest economy gives another signal that is gaining momentum after the worst recession since the Second World War. The index of the Munich-based institute, which is obtained from consultation to 7000 companies in the country reached 91.3 percent at 90.5 percent in August. However, the increase is lower than the forecasts of analysts who had expected the index to increase to 92 points. In March, the indicator said 26-year low, falling to 82.2 percent. The index for current conditions also noted an increase to 87 points, measured at 86.2 in August. Ifo Institute’s report comes just days before federal elections in Germany, which this chancellor and her party are expected to be first political force by about 34-36% of the vote. Bloomberg notes that the government program “cache lizzie and improving international trade helped Germany to surged by 0.3 percent in the second quarter of the year.
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The business and consumer confidence in 16 states of the Eurozone is better for 5th consecutive month. Notes strong upswing in activity in the services sector. Business and consumer confidence in 16 states of the Eurozone is better for 5th consecutive month. Notes strong upswing in activity in the services sector. Business climate index for the Eurozone rose in August to -2.21 points for the rising expectations of -2.48 to -2.71 points after points in July. The index of consumer confidence in the Eurozone in August rose to -22 points in the rising expectations of -21 points to -23 points after July. he index of economic confidence in euro zone in August rose to 80.6 points in expectations for a rise to 78 points after 76.0 points in July. The index of confidence in the services sector in the Eurozone in August rose to -11 points after -18 points for July. The expectations of the market were to rise slightly to -17 points.
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On a business forum in Barcelona, European Commission President Jose Manuel Barroso predicted that the world will be the same after pass this economic crisis. Barroso said that Europe will start to come out of the crisis in 2010 He said the continent should be made much effort to overcome the serious situation. Barroso for most of Europe’s main concern is unemployment. This is the main drama of European society. Barroso added that the European Union will show flexibility in terms of limit of 3 percent of GDP, which must not pass the budget deficits of member states of the Union.
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Producer prices in the euro area in June rose by 0.3 percent on a monthly basis, but signed decrease of 6.6% over the same period last year This is a record fall of 1996. way. Market expectations were for prices to rise 0.2 percent on a monthly basis and a decline of 6.6 years. The Decline in prices is largely due to less demand for goods in the Eurozone, which is located in the most severe economic recession of the Second World War onwards. By Eurostat said that the main driver of the decline in producer prices is decreased by 15 percent annual price of energy products, especially for more costly oil and gas.
Prices of durable goods rose by 1.5 percent of yearly base.
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The UK economy has decreased by 5.6 percent in the second quarter of this year compared with the same period of 2008, forward Bloomberg, referring to the statistical office in the country. This is the strongest decline in 1955 when it started keeping official statistics. On a quarterly basis is reduced by 0.8% due to the decline in construction, lending and business services. It is recalled that economists expected the country’s GDP to decrease by 0.3 percent. Expectations of the International Monetary Fund is that the country will register economic slowdown from 4.2 percent at the end of this year. According to Andrew Sentans, Bank of England by the British economy will start to life in the second half of 2009
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The Eight major banks are already with profits in the U.S., which reported earnings in the second quarter of 2009 today to the group, which fell safe as Goldman Sachs and JP Morgan Chase joined Bank of America and Citigroup. The Bank of America reported profits of 3.2 billion dollars during April-June (or $ 0.33 per share) and revenues amounted to 33.1 billion dollars, which is 60 percent more. The results were better than expectations, according to which profits should be between 0.28 and 0.29 dollars per share. Last year in the second quarter was 0.72 dollars per share (or profit amounted to 3.41 billion dollars). The Net income of Bank of America for the period April-June increased by 9 percent to 11.9 billion dollars. Furthermore, the Bank announced that during the second quarter expanded loans to more than 211 billion dollars. Treasury announced that it added reserves (provisions) for credit losses amounted to 13.4 billion dollars. Citigroup results show a net profit of 3.1 billion dollars for the second quarter of 2009, or earnings of 0.49 dollars per share (compared to a loss of 0.55 dollars per share or net losses of 2.5 billion dollars in the second quarter of 2008 ). Bank earnings have amounted to 29.97 billions USD revenues to 17.54 billion dollars for the prior year.
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The Eurozone consumer prices decreased on an annual basis for the first time in June, which coincides with the prediction of the European Central Bank (ECB) says Finance.news, quoted by Eurostat. Core inflation has also declined by 0.1 percent in June after an earlier yearly inflation in 16 states, adopted the euro, was 4 percent. Time of ETSBK said it expected strong fluctuations in raw material prices last year would lead to a decline in inflation on a monthly basis for several months before it becomes positive again at the end of this year. Reiterated several times that the short-term movements in inflation should not be taken into account in monetary policy. The Economists are of the opinion that the fall in prices will lead to a prolonged period of deflation. Prices of fuel and transport decreased by 18.8% yearly base and for heating fuel fell by 39.3 percent.
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The European Comitee will propose in Friday measures for regullating of the market of derivatives, increasing the fears of bankers in the Eurozone, that the sector may hurt seriously by this. After the latest USA financial tools were announced many of the analyzers claim that this may even make the crisis stronger.
The report of the comitee most probably will pay attention to similar proposes, just like those announced from the administration od Barak Obama, which signed changes in the regulation with the derivatives over the price of enegry resources and corporate crediting. Some bankers are affraid that the comitee may try to win some political points, with offering more restrictable changes. Another analyzers claim that the industry already is in need of more serious actions to decrease the market risks. The reports of European Cometee will not have the power of laws, but they can help in forming future practises for regulation of large dealers of directives.