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Cutting Eurostat to Pieces

The present writer took up his Eurostat post in March 1991, right after Desert Shield. He was told then that Eurostat "had no right" to publish economic analyses and those instructions were repeated from time to time ever since. No Eurostat publication that he has seen contained any fruits of the officially forbidden research.

Eurozone inflation August 2011 at 2.5% and unemployment at 10.0% in July

Euro area annual inflation is expected to be 2.5% in August 2011 according to a flash estimate issued by Eurostat, the statistical office of the European Union. It was 2.5% in July.

The euro area (EA17) seasonally-adjusted unemployment rate was 10.0% in July 2011, unchanged compared with June. It was 10.2% in July 2010. The EU27 unemployment rate was 9.5% in July 2011, unchanged compared with June. It was 9.7% in July 2010.

Eurostat estimates that 22.711 million men and women in the EU27, of whom 15.757 million were in the euro area, were unemployed in July 2011. Compared with June 2011, the number of persons unemployed increased by 18 000 in the EU27 and by 61 000 in the euro area. Compared with July 2010, unemployment decreased by 451 000 in the EU27 and by 247 000 in the euro area.

These figures are published by Eurostat, the statistical office of the European Union.

Euro Area Deflation in July 2011: -0.6%, annual inflation down to 2.5% (compared to 1.7% a year ago)

Euro area annual inflation was 2.5% in July 20112, down from 2.7% in June. A year earlier the rate was 1.7%. Monthly inflation was -0.6% in July 2011.

EU annual inflation was 2.9% in July 2011, down from 3.1% in June. A year earlier the rate was 2.1%. Monthly inflation was -0.5% in July 2011.

These figures come from Eurostat, the statistical office of the European Union.

Inflation in the EU Member States

Unemployment in EU, April 2011: 9.9% in the Euro Area

Just before May data will be released in th US, we compiled the lastest available data for EU.

Unemployment EU, eurozone, April 2011

Eurostat Flash estimate for May 2011: Euro area inflation estimated at 2.7%

The month hasn't finished really yet, nevertheless Eurostat manages to produce a flash estimate of the Euro are inflation. Euro area annual inflation is expected to be 2.7% in May 2011 according Eurostat, the statistical office of the European Union. It was 2.8% in April.

Eurostat does good job, and makes euro situation worse

A recent analysis by the Moody's Capital Markets Research Group -- "Eurostat Plays Cassandra, and the Markets are a Willing Audience" -- brought up an interesting point. Europe's statistical agency, Eurostat, had improved EU-wide oversight of government debt and budget deficits.

This means that a number of "off-balance sheet" items that Europeans had moved off their books to make their deficits and debt levels more palatable have now been put back on the menu.

Eurostat Flash estimate - March 2011: Euro area inflation estimated at 2.6% - confirmation for ECB to increase the rate?

Euro area annual inflation is expected to be 2.6% in March 2011 according to a flash estimate issued by Eurostat, the statistical office of the European Union. It was 2.4% in February.

Computation of flash estimates

Euro area inflation is measured by the Monetary Union Index of Consumer Prices (MUICP). To compute the MUICP flash estimates, Eurostat uses early price information relating to the reference month from Member States for which data are available4 as well as early information about energy prices.

Euro area unemployment rate at 10.0%, EU27 at 9.6% in December 2010

The euro area (EA16) seasonally-adjusted unemployment rate was 10.0% in December 2010, unchanged compared with November4. It was 9.9% in December 2009. The EU27 unemployment rate was 9.6% in December 2010, unchanged compared with November. It was 9.5% in December 2009.

New revelations of the EFSF set-up - Eurostat makes a decision

(27 January 2011) The EU Statistical Agency Eurostat, made a decision today. In that announcement, Eurostat decided that the funds raised in the framework of the European Financial Stability Facility must be recorded in the gross government debt of the euro area Member States participating in a support operation, in proportion to their share of the guarantee given. EFSF with initial capital of 30 million euros is not considered a financial institution in Luxembourg and therefore not regulated by the local PSF regulation. For making loans it uses the technical assistance of other institutions, notably the European Investment Bank (EIB) and the Finanzagentur (the German public debt agency). EU has yet to decide if there shall be a European Debt Agency, but that is currently too political to be practical, ask Merkel. EIB did not dare to take care of the crisis fund themselves, hence creating this SPV called EFSF. Without raising an eyebrowe Eurostat considers that the EFSF is an accounting and treasury tool acting exclusively on behalf of the Eurozone Member States and under their total control.

Eurostat: Euro area annual inflation up to 2.2% in December 2010, EU up to 2.6%

Rising fuel prices helped push annual eurozone inflation up to 2.2% in December, from 1.9% in November, according to official figures. Consumer prices in countries using the euro climbed 0.6% on a monthly basis, Eurostat added. The data comes one day after the head of the European Central Bank (ECB) warned the region was threatened by rising prices. The ECB has a target of 2% for eurozone inflation. A year ago it stood at 0.9%. More expensive fuel has a particular impact on the cost of transport and of food production and delivery.

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