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GDP increased by 0.2% in both the euro area (EA17) and the EU27 during the second quarter of 2011, compared with the previous quarter, according to flash estimates published by Eurostat, the statistical office of the European Union. In the first quarter of 2011, growth rates were +0.8% in both zones.
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In June 2011 compared with May 2011, seasonally adjusted industrial production fell by 0.7% in the euro area (EA17) and by 1.2% in the EU27. In May production rose by 0.2% in both zones.
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The UK has long dominated Western Europe’s ecommerce landscape, accounting for well over half of annual sales in the EU-5. But France, Germany, Italy and Spain are increasingly vital markets in their own right.
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The Conference Board Leading Economic Index® (LEI) for the U.K. remained unchanged, and The Conference Board Coincident Economic Index® (CEI) increased 0.1 percent in June.
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The annual growth rate of the outstanding amount of debt securities issued by euro area residents increased from 3.6% in May 2011 to 3.9% in June. For the outstanding amount of quoted shares issued by euro area residents, the annual growth rate increased from 1.3% in May 2011 to 1.6% in June.
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“Annual growth in Industrial production remain a key contributor to overall growth in online recruitment across the Continent, leading for the last six months in the Index as sector employers have continued to ramp up their efforts,” commented Alan Townsend, Vice President of Sales Readiness and Business Operations for Monster Europe. “While government cuts continue to impact the arts and public sectors, private sector opportunities are increasingly diversified, with strengthening growth trends in creative areas like marketing, an encouraging sign.”
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In June 2011 the most significant MFI interest rates on new loans to non-financial corporations showed mixed changes compared to their levels in the previous month. The most significant MFI interest rates on new deposits from non-financial corporations and households increased. MFI interest rates on new loans to sole proprietors and unincorporated partnerships increased whereas rates on loans to households remained basically unchanged.
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In June 2011, compared with May 2011, the volume of retail trade grew by 0.9% in the euro area (EA17) and by 0.7% in the EU27. In May retail trade fell by 1.3% in both zones.
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In June 2011 compared with May 2011, the industrial producer price index remained stable in both the euro area (EA17) and the EU27. In May prices fell by 0.2% and 0.3% respectively.
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Greece’s ambitious programme to tackle its economic crisis can succeed in rebuilding growth, jobs and living standards if the reforms are fully implemented, according to a new OECD report.
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