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The EU economy is gradually recovering, whilst still facing headwinds. Real GDP started to grow again in the third quarter of 2009, ending the longest and deepest recession in the EU's history. The exceptional crisis measures put in place in the EU played a major role in turning the economy around. However, in line with the autumn 2009 forecast, growth eased in the fourth quarter, as the impact of some temporary factors started to fade.

February new-vehicle retail sales are expected to increase marginally compared with February 2009, according to J.D. Power and Associates, which gathers real-time transaction data from more than 8,900 franchisees across the United States.

In February, the Economic Sentiment Indicator (ESI) remained broadly unchanged, lingering at 97.4 (up by 0.2 points) in the EU and at 95.9 (down by 0.1 point) in the euro area. After 10 months of uninterrupted improvement, the rebound appears to have lost its momentum – though the indicator is now not far off its long-term average, especially in the EU.

The Conference Board Leading Economic Index® (LEI) for Australia increased 0.6 percent and The Conference Board Coincident Economic Index® (CEI) increased 0.3 percent in December.

Funding for 150 new posts in the European Parliament and an increase in the budget provision for hiring MEPs' assistants was approved by Parliament on Thursday. Due to Parliament's vastly increased powers and tasks under the Lisbon Treaty, extra staff are needed in Parliament's political groups, its administration, and to work with MEPs.

Employers took 1,761 mass layoff actions in January that resulted in the separation of 182,261 workers, seasonally adjusted, as measured by new filings for unemployment insurance benefits during the month, the U.S. Bureau of Labor Statistics reported. Each action involved at least 50 persons from a single employer. Both mass layoff events and initial claims increased from the prior month after four consecutive over-the-month decreases. In January, 486 mass layoff events were reported in the manufacturing sector, seasonally adjusted,resulting in 62,556 initial claims. Both figures increased over the month - the first increases since August 2009 for events and since September 2009 for initial claims.

In December 2009 compared with November 2009, the euro area (EA16) industrial new orders index rose by 0.8%, after +2.7% in November. In the EU27 new orders increased by 0.6% in December 2009, after +2.4% in November. Excluding ships, railway & aerospace equipment, for which changes tend to be more volatile, industrial new orders fell by 0.4% in the euro area and by 0.8% in the EU27 in December.

From March to June 2009 the number of gross job gains from opening and expanding private sector establishments was 6.4 million, an increase of 674,000 jobs compared to the previous quarter, the U.S. Bureau of Labor Statistics reported. This is the largest over the quarter increase in gross job gains since the series began in 1992. The number of gross job losses from private sector closing and contracting establishments fell to 8.0 million in the second quarter of 2009.

Denmark’s dynamic youth labour market and well-developed activation strategy have helped young people weather the current recession better than their peers in most OECD countries. But youth unemployment is still rising and Denmark should scale up recent initiatives to help disadvantaged youth and extend activation rules to cover more young Danes, according to a new OECD report.

The Conference Board Leading Economic Index® (LEI) for Germany increased 0.7 percent and The Conference Board Coincident Economic Index® (CEI) decreased 0.1 percent in December.