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In November, the Economic Sentiment Indicator (ESI) rose to 87.9 (+1.9 points) in the EU and to 88.8 (+2.7) in the euro area. The indicator has improved in both areas for eight consecutive months since its trough in March 2009, though it still remains significantly below the long-term average.

In the first half of 2009 the value of EU27 exports to China fell to 37 bn euro, compared with 39 bn in the first half of 2008, and imports decreased to 103 bn from 112 bn. As a result, the EU27 trade deficit with China dropped from 73 bn in the first half of 2008 to 65 bn in the same period of 2009.

The annual rate of growth of M3 decreased to 0.3% in October 2009, from 1.8% in September 2009. The three-month average of the annual growth rates of M3 over the period August 2009 - October 2009 decreased to 1.6%, from 2.5% in the period July 2009 - September 2009.

In the run up to the festive season, shoppers wanting to avoid spending heavily at Christmas are using the shopping habits they have learnt from the recession, for example, turning to voucher codes sites such as VoucherSeeker in order to save money.

In September 2009 compared with August 2009, the euro area (EA16) industrial new orders index rose by 1.5%. In August the index increased by 0.6%. In the EU27 new orders grew by 1.7% in September 2009, after an increase of 2.0% in August. Excluding ships, railway & aerospace equipment, for which changes tend to be more volatile, industrial new orders fell by 1.2% in the euro area and by 0.6% in the EU27.

The current crisis is taking its toll on EU labour markets, reversing most of the employment growth achieved since 2000, according to the 2009 Employment in Europe Report. Men, young people, the low-skilled and workers on temporary contracts have borne the brunt of the employment contraction. Employment in the EU has shrunk by over 4 million jobs since the start of the crisis, although the effect has been somewhat mitigated thanks to the use of shorter working hours and other schemes. But these short term measures, however important, are not in themselves sufficient to ensure a successful exit from the crisis. Employment policies must focus on preparing for the transition to a low-carbon economy.

Young Poles have been hit hard by the jobs crisis. To help them, a new OECD report on Poland says that the government should invest more in vocational training schemes, and temporarily cut the cost of employing low-skilled school-leavers.

In September 2009 the working day and seasonally adjusted current account of the euro area recorded a deficit of EUR 5.4 billion. In the financial account, combined direct and portfolio investment recorded net inflows of EUR 28 billion (non-seasonally adjusted).

The EU's 2010 budget was agreed by conciliation delegations from Parliament and the Council. They found funding for the EU economic recovery plan and of the closure of the Bulgarian nuclear plant Kozlodoy and agreed on emergency aid to milk producers. Payments will be €122,937 million, splitting the difference between the two sides' initial proposals.

In the construction sector, seasonally adjusted production decreased by 1.1% in both the euro area (EA16) and the EU27 in September 2009, compared with the previous month. In August, production rose by 0.1% in the euro area, but fell by 0.1% in the EU27.