The latest EU statistical data
We present to you some important new statistics on the EU economic development:
1. GDP development
In the first quarter 2016 GDP up by 0.6% in the euro area and by 0.5 % in the EU28.
Seasonally adjusted GDP rose by 0.6% in the euro area (EA19) and by 0.5% in the EU28 during the first quarter of 2016, compared with the previous quarter, according to a preliminary flash estimate published by Eurostat, the statistical office of the European Union. In the fourth quarter of 2015, GDP grew by 0.3 % in the euro area and by 0.4 % in the EU28.
Compared with the same quarter of the previous year, seasonally adjusted GDP rose by 1.6% in the euro area and by 1.7% in the EU28 in the first quarter of 2016, after +1.6 % and +1.8 % respectively in the previous quarter.
2. Euro area unemployment down to 10.2% EU28 at 8.8 %
The euro area (EA19) seasonally-adjusted unemployment rate was 10.2 % in March 2016, down from 10.4 % in February 2016, and from 11.2 % in March 2015. This is the lowest rate recorded in the euro area since August 2011. The EU28 unemployment rate was 8.8 % in March 2016, down from 8.9 % in February 2016, and from 9.7 % in March 2015. This is the lowest rate recorded in the EU28 for seven years, since April 2009. These figures are published by Eurostat, the statistical office of the European Union.
Eurostat estimates that 21.419 million men and women in the EU28, of whom 16.437 million were in the euro area, were unemployed in March 2016. Compared with February 2016, the number of persons unemployed decreased by 250 000 in the EU28 and by 226 000 in the euro area. Compared with March 2015, unemployment fell by 2.091 million in the EU28 and by 1.477 million in the euro area.
3. Euro area annual inflation down to -0.2% in April
Euro area annual inflation is expected to be -0.2 % in April 2016, down from 0.0% in March, according to a flash estimate from Eurostat, the statistical office of the European Union.
Looking at the main components of euro area inflation, services is expected to have the highest annual rate in April (1.0%, compared with 1.4% in March), followed by food, alcohol & tobacco (0.8 %, stable compared with March), non-energy industrial goods, (0.5 %, stable compared with March) and energy (-8.6 %, compared with -8.7 % in March).
4. Employment rate of people aged 20 to 64 in the EU above 70% in 2015
In 2015, the employment rate of the population aged 20 to 64 in the European Union (EU) stood at 70.1%, up compared with 2014 (69.2 %) although still remaining slightly below its 2008 peak (70.3 %). A similar pattern can be observed for men: their employment rate hit 75.9 % in 2015, an increase compared with 2014 (75.0 %) but still below its 2008 level (77.8 %). As for women, their employment rate has continuously risen since 2010 to reach 64.3 % in 2015, above previous peaks of 63.5 % in 2014 and 62.8 % in 2008. The Europe 2020 strategy target is to reach a total employment rate for people aged 20 to 64 of at least 75 % in the EU by 2020. This objective has been translated into national targets in order to reflect the situation and possibilities of each Member State to contribute to the common goal.
The employment rate of persons aged 55 to 64 in the EU has grown steadily over the last years, from 38.4 % in 2002 to 53.3 % in 2015. The greater participation of older workers is also one of the objectives of the Europe 2020 strategy on employment.
This information comes from an article issued by Eurostat, the statistical office of the European Union, based on the 2015 results of the European Labour Force Survey.