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The Conference Board Leading Economic Index® (LEI) for Spain increased 0.1 percent and The Conference Board Coincident Economic Index® (CEI) increased 0.1 percent in February.

The European Commission has presented its proposal to overhaul the outdated rules on the taxation of energy products in the European Union. The new rules aim to restructure the way energy products are taxed to remove current imbalances and take into account both their CO2 emissions and energy content. Existing energy taxes would be split into two components that, taken together, would determine the overall rate at which a product is taxed. The Commission wants to promote energy efficiency and consumption of more environmentally friendly products and to avoid distortions of competition in the Single Market. The proposal will help Member States to redesign their overall tax structures in a way that contributes to growth and employment by shifting taxation from labour to consumption. The revised Directive would enter into force as of 2013. Long transitional periods for the full alignment of taxation of the energy content, until 2023, will leave time for industry to adapt to the new taxation structure.

Executives and scientists from the Gallup and Healthways organisations presented findings from the Gallup-Healthways Well-Being Index® (WBI) which has collected information from approximately 3,000 adults in the United Kingdom over the past three months.

The annual growth rate of the outstanding amount of debt securities issued by euro area residents increased from 3.7% in January 2011 to 4.1% in February. For the outstanding amount of quoted shares issued by euro area residents, the annual growth rate was 1.4% in February 2011, compared with 1.3% in January.

Escalating global inflation is the biggest challenge to businesses struggling to recover from the economic downturn, according to the latest Global Economic Conditions survey of finance professionals by ACCA (the Association of Chartered Certified Accountants).

In 2009, oil remained the main source of energy in the EU27, with a share of 37% in the total gross inland energy consumption. However, there have been changes in the mix of sources contributing to gross inland energy consumption over the last decade. The share of renewable energy has almost doubled, from 5% of total gross inland energy consumption in 1999 to 9% in 2009, while gas rose from 22% to 24%. Nuclear energy remained almost stable at 14% during this period, while oil fell from 39% to 37% and solid fuels from 18% to 16%.

The Conference Board Leading Economic Index® (LEI) for the U.K. increased 0.6 percent in February, after increasing 0.4 percent in January and increasing 0.6 percent in December. Five of the seven components made positive contributions to the index in December. The index now stands at 103.5 (2004=100).

In February 2011 most MFI interest rates on new loans to households and non-financial corporations increased. MFI interest rates on new deposits showed mixed developments. MFI interest rates on outstanding amounts of deposits and loans remained basically unchanged.

In February 2011, compared with January 2011, the volume of retail trade fell by 0.1% in both the euro area (EA17) and the EU27. In January retail trade rose by 0.2% and 0.4% respectively.

The euro area (EA17) seasonally-adjusted unemployment rate was 9.9% in February 2011, compared with 10.0% in January. It was 10.0% in February 2010. The EU27 unemployment rate was 9.5% in February 2011, compared with 9.6% in January. It was 9.6% in February 2010.