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In April 2009 compared with March 2009, the euro area (EA16) industrial new orders index fell by 1.0%. In March the index decreased by 0.2%. In the EU27 new orders declined by 0.5% in April 2009, after dropping by 0.5% in March. Excluding ships, railway & aerospace equipment, for which changes tend to be more volatile, industrial new orders decreased by 0.9% in the euro area, but increased by 0.3% in the EU27.

Fitch Ratings says in a special report that the outlook for Europe's automotive industry continues to remain difficult over the next 18 months, as it experiences one of its deepest ever downturns. However, not all companies will be affected to the same extent, as reflected by the agency's ratings of the sector.

The global economic crisis is having an impact on the already poor performances of the water sector in Russia. The existing infrastructure is largely outdated resulting in frequent breakdowns and is also relatively inefficient with high energy consumption and substantial water losses. It has been estimated that a staggering sum of $459 billion (15 trillion Rubles) is needed to complete the necessary upgrade, refurbishment and new build for water and sanitation infrastructure in Russia by 2020. With the downturn affecting the market, the massive capital requirement for the implementation of the "Clean Water" programme is going to be a big challenge.

In April 2009 the working day and seasonally adjusted current account of the euro area recorded a deficit of EUR 5.9 billion. In the financial account, combined direct and portfolio investment showed net outflows of EUR 7 billion.

As the European economy suffers its worst post-war recession, the European Recovery Plan provides needed fiscal support to ailing economies. But rising public debts and the contingent liabilities incurred by governments to support the financial sector, together with the prospected increases in age-related expenditure and slowdown in potential growth raise concerns about public finance sustainability. An exit strategy strengthening fiscal policy frameworks, reforming age-related spending and spelling out the broad consolidation measures envisaged when the recovery has taken hold is required to address these concerns and underpin consumer, business and financial market confidence, the 2009 Report on public finances shows.

The Conference Board Leading Economic Index™ (LEI) for Germany increased 0.4 percent and The Conference Board Coincident Economic Index™ (CEI) decreased 0.2 percent in April.

The Conference Board Leading Economic Index™ (LEI) for France increased 0.6 percent and The Conference Board Coincident Economic Index™ (CEI) decreased 0.2 percent in April.

The overall tax-to-GDP ratio in the EU27 was 39.8% in 2007, a slight increase from 39.7% in 2006. The EU27 tax ratio, which stood at 40.6% in 2000, fell to 38.9% by 2004 and then started to rise.

The annual growth rate of the outstanding amount of debt securities issued by euro area residents was 12.1% in April 2009, compared with 12.0% in March. For the outstanding amount of quoted shares issued by euro area residents, the annual growth rate increased from 1.5% in March 2009 to 1.7% in April.

Italy is facing a difficult period. The economy is in a sharp recession, mainly because of external developments linked to the global financial crisis, and there is great uncertainty about the strength and timing of the recovery.