European employment

European employment: Eurostat

  • The number of persons employed remained stable in both the euro area (EA17) and the EU28 in the third quarter of 2013 compared with the previous quarter.
  • In the second quarter of 2013, employment was also stable in both zones.
  • Compared with the same quarter of the previous year, employment fell by 0.8% in the euro area and by 0.3% in the EU28 in the third quarter of 2013 (after -1.1% and -0.6% respectively in the second quarter of 2013).
  • In the third quarter of 2013, 223.2 million men and women were employed in the EU28, of  which 145.0 million were in the euro area.

Business confidence up

Business Trends: BDO

  • UK business confidence has increased for the tenth consecutive month
  • The Optimism Index, which predicts business performance two quarters ahead, increased from 101.7 in October to a 43-month high of 103.1 in November, taking it comfortably above the 100.0 mark that indicates the UK economy’s long-run average growth rate.
  • The Output Index, which predicts short-run turnover expectations, went up from 100.7 to 101.8 in November
  • The Inflation Index was down from 100.5 in October to 99.7 this month

Family spending

Living Costs and Food Survey, 2012

  • UK households spent an average of £489 a week in 2012.
  • The largest expenditure categories were housing (excluding mortgages), fuel and power, transport, and recreation and culture.
  • There were four regions in which expenditure over the period 2010-2012 was higher than the UK average: London, the South East, the East and the South West.
  • Average spending has decreased between 2006 and 2012 once the figures have been adjusted to allow for changes in prices (inflation).
  • Households in London spend the most, while those in the North East spend the least.
  • Expenditure in rural areas is higher than in urban areas.

Poverty in the UK

Monitoring poverty and social exclusion 2013: JRF

  • Over the four years to 2011/12 median income fell by an unprecedented 8 per cent
  • Alongside the 13 million people in poverty in 2011/12 are a further two million with incomes that would have been low enough to count as poverty in 2007/08
  • Of the 13 million people in poverty around 6.7 million were in a family where someone worked.

European retail trade down

European Retail Trade volumes, Oct 2013: Eurostat

  • In October 2013 compared with September 2013, the seasonally adjusted volume of retail trade fell by 0.2% in the euro area (EA17) and by 0.4% in the EU28
  • In September retail trade decreased by 0.6% and 0.4% respectively.
  • In October 2013 compared with October 2012 , the retail sales index fell by 0.1% in the euro area and rose by 0.5% in the EU28.