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In a year marked by exceptional economic turbulence, the 2008 EU budget continued to provide stable funding without increasing the financial burden on Member States. The 2008 financial report presented by the Commission today shows how a record 40% of the 2008 budget's €116.5 billion was invested in measures linked directly to jobs, growth and competitiveness like the €6 billion committed for new research projects (€500m more than in 2007). Farm payments continued to fall taking 37% of funds, marginally less than 2007. In terms of EU GNI the 2008 budget was steady, rising only slightly to 0.94% (0.93% of EU GNI in 2007).

The Conference Board Leading Economic Index™ (LEI) for France increased 0.5 percent and The Conference Board Coincident Economic Index™ (CEI) decreased 0.1 percent in July.

With online businesses still thriving despite the recession, the knowledge economy will be vital to a global recovery.

Existing aid to dairy farmers will continue until at least next February, MEPs agreed. But they also warned that measures taken by the European Commission so far were not enough.

Pay-TV revenue in the U.K. will climb from $6.2 billion in 2009 to $8.2 billion by 2014 as IPTV grows at an impressive CAGR of 26 percent within the forecast period, according to the latest report from Pyramid Research, the telecom research arm of the Light Reading Communications Network.

The first estimate for the euro area (EA16) trade balance with the rest of the world in July 2009 gave a 12.6 bn euro surplus, compared with -3.5 bn in July 2008. The June 2009 balance was +5.4 bn, compared with -0.8 bn in June 2008. In July 2009 compared with June 2009, seasonally adjusted exports rose by 4.1%, while imports fell by 0.3%.

In the construction sector, seasonally adjusted production decreased by 2.0% in the euro area (EA16) and by 1.1% in the EU27 in July 2009, compared with the previous month. In June, production fell by 0.3% and 0.8% respectively.

Euro area annual inflation was -0.2% in August 2009, up from -0.7% in July. A year earlier the rate was 3.8%. Monthly inflation was 0.3% in August 2009.

Total hourly labour costs in the euro area (EA16) rose by 4.0% in nominal terms in the year up to the second quarter of 2009, compared with 3.6% for the previous quarter. In the EU27, the annual rise was 3.7% up to the second quarter of 2009, compared with 1.3% for the previous quarter.

The Conference Board Leading Economic Index™ (LEI) for Spain increased 0.9 percent. The Conference Board Coincident Economic Index™ (CEI) decreased 0.2 percent in July.