European Inflation

European Inflation, October 2012: Eurostat

  • Euro area annual inflation is expected to be 2.5% in October 2012, down from 2.6% in September

European Unemployment

European Unemployment: Eurostat

  • The euro area (EA17) seasonally-adjusted unemployment rate was 11.6% in September 2012, up from 11.5% in August.
  • The EU27 unemployment rate was 10.6% in September 2012, stable compared with August.
  • In both zones, rates have risen significantly compared with September 2011, when they were 10.3% and 9.8% respectively
  • Eurostat estimates that 25.751 million men and women in the EU27, of whom 18.490 million were in the euro area,
    were unemployed in September 2012.
  • Compared with August 2012, the number of persons unemployed increased by 169 000 in the EU27 and by 146 000 in the euro area.
  • Compared with September 2011, unemployment rose by 2.145 million in the EU27 and by 2.174 million in the euro area.

English Business Survey

English Business Survey, Aug 2012: BIS

As I reported last month, not a lot happens on this one on a monthly basis

  • Output – same as May
  • Employment – same as May

But I’ll still keep an eye on the releases because as soon as I don’t…..



Convenience stores capture similar spend to supermarkets

Convenience stores capture similar spend to supermarkets: PayPoint

  • British shoppers’ spend in local stores is almost on a par with the high street supermarkets
  • Local stores are now seeing 18p in every pound, compared to 20p for the supermarket chains
  • More than three quarters of consumers agree convenience store staff are friendlier than those in larger stores, while 86% agree they get outstanding speed of service
  • 85% believe convenience store shopping is easier than visiting chain supermarkets.

Retail sales grow strongly

Retail sales grow strongly in year to October: CBI Distributive Trades Survey

  • 47% of retailers reported that sales volumes were up on a year ago and 17% stated that sales had fallen. The resulting balance of +30% well exceeded expectations (+15%), and was the fastest rate of sales growth since June (+42%).
  • Looking ahead, retailers expect growth in sales volumes to be similarly robust in the year to November (+27%)
  • the volume of orders placed on suppliers increased moderatel
  • , high-street retailers still considered the volume of sales to be below average for the time of year

Private sector employment expected to rise

Autumn 2012 employment trends survey: CBI

  • Over a third of employers (35%) expect their workforce to be larger in 12 months’ time than it is today, while just15% expect it to be smaller – a positive balance of +20%. This compares to a positive balance of +28% at this point last year
  • Among small and medium-sized businesses expectations of workforce expansion are particularly widespread, with a positive balance of +36% in the smallest firms and +27% of mid-sized businesses expecting to grow their workforce
  • More firms plan to expand their level of recruitment of permanent staff in the next six months than anticipate a reduction (25% compared with 16%, giving a positive balance of +9%)

Retail employment rising

Retail Employment Monitor, Q3: BRC

  • Retail employment rose by 2.9% in the third quarter of 2012 compared with a year earlier, the fastest growth in two years – equivalent to 20,533 additional full-time jobs in our sampled retailers
  • The increase in jobs was driven by part-time workers, particularly in the grocery sector
  • The number of outlets and full-time jobs fell in non-food retailing