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Euro Area External Trade Surplus 1.9 bn Euro in May 2009

added: 17-07-2009

The first estimate for the euro area (EA16) trade balance with the rest of the world in May 2009 gave a 1.9 bn euro surplus, compared with -3.8 bn in May 2008. The April 2009 balance was +2.7 bn, compared with +2.2 bn in April 2008. In May 2009 compared with April 2009, seasonally adjusted exports fell by 2.7% and imports by 2.8%.

Construction Output Down by 2.0% in the Euro Area in May 2009

added: 17-07-2009

In the construction sector, seasonally adjusted production fell by 2.0% in the euro area (EA16) and by 2.7% in the EU27 in May 2009, compared with the previous month. In April, production rose by 0.4% and 0.6% respectively. Compared with May 2008, output in May 2009 dropped by 8.0% in the euro area and by 9.6% in the EU27.

SEPA Risks Failure Unless Corrections are Made, say End Users

added: 17-07-2009

The Single Euro Payments Area (SEPA) that aims to establish one set of Europe-wide rules for credit transfers, debt transfers and payment card services risks not being sufficiently taken up by the market and failing to meet its objective to improve the efficiency of cross border euro payments, according to 8 leading European business and consumer organisations.

1.9 Million Foreclosure Filings Reported on More Than 1.5 Million U.S. Properties in First Half of 2009

added: 17-07-2009

RealtyTrac released its Midyear 2009 U.S. Foreclosure Market Report, which shows a total of 1,905,723 foreclosure filings - default notices, auction sale notices and bank repossessions - were reported on 1,528,364 U.S. properties in the first six months of 2009, a 9 percent increase in total properties from the previous six months and a nearly 15 percent increase in total properties from the first six months of 2008. The report also shows that 1.19 percent of all U.S. housing units (one in 84) received at least one foreclosure filing in the first half of the year.

U.S. Consumer Sentiment Continues Downward Slide, According to RBC Cash Index

added: 17-07-2009

Led by a dramatic decline in the expectations of U.S. consumers for the near future of the U.S. economy, the most recent results of the RBC CASH (Consumer Attitudes and Spending by Household) Index show a marked downward shift for July 2009, continuing the slide begun last month. The RBC CASH Index for July 2009 stands at 22.4, an 11.9 point decline from June's 34.3 reading.

EC Adopts New Rules to Prevent and Deal with Gas Supply Crisis

added: 17-07-2009

The European Commission has adopted a new regulation to improve security of gas supplies in the framework of the internal gas market. The proposed Regulation would strengthen the existing EU system for gas supply security by ensuring that all Member States and their gas market players take effective action well in advance to prevent and mitigate the consequences of potential disruptions to gas supplies. It also would create mechanisms for Member States to work together to deal effectively with any major gas disruptions which might arise.

Euro Area Balance of Payments and International Investment Position for the First Quarter of 2009

added: 17-07-2009

The current account of the euro area balance of payments recorded a deficit of EUR 42.4 billion in the first quarter of 2009. The largest bilateral deficits were with the group of “other countries” ( i.e. countries outside the European Union other than Canada, Japan, Switzerland and the United States), the European Union institutions, Japan and the United States. By contrast, the largest surpluses were with the United Kingdom and the countries that joined the European Union (EU) in 2004 and 2007.

Financial Services: EC Publishes Study on Trading and Post-Trading Prices, Costs and Volumes

added: 17-07-2009

The European Commission has published a first study on the prices, costs and volumes for trading and post-trading of securities in the EU, carried out by Oxera Consulting Ltd. This study, which will be renewed, allows the Commission to monitor how prices and costs evolve. In this way, the Commission will be able to better evaluate the effect of its policies in this area and to base future policies on solid evidence.

Fitch: Global Oil Refining Faces Significant Challenges

added: 17-07-2009

Fitch Ratings says in a special report that the global oil refining industry faces significant challenges in the near- to medium-term due to a sharp deterioration in the global supply/ demand balance for refined products.

China's Economy Stabilized with a Better Performance Trend

added: 17-07-2009

In the first half of 2009, all regions and departments effectively implemented the policies and measures set by the central government on fighting against the global financial crisis and promoting the sound and fast growth of national economy, overcame the difficulties in the progress, the national economy stabilized to recovery with increasing positive changes.

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