Pubblicato in: Devoluzione socialismo, Economia e Produzione Industriale, Unione Europea

Blocco Europeo. 2021Q2. Pil -2.5%, occupati -2.1 milioni, comparati con 2019Q4.

Giuseppe Sandro Mela.

2021-09-11.

2021-09-08__ Eurostat Pil 001

Molto correttamente, Eurostat riporta le variazioni percentuali sul trimestre precedente.

Infatti, il 2020Q2 fu particolarmente depresso, per cui il rapporto 2021Q2/2020Q2 risulta essere abnormemente elevato, inaffidabile.

Sempre molto correttamente, Eurostat paragona questi macrodati con quelli del 2019Q4, ultimo trimestre prima della crisi pandemica.

«Based on seasonally adjusted figures, GDP volumes were 2.5% and 2.2% below their highest level of the fourth quarter 2019 for the euro area and EU. For the United States, GDP was 0.8% higher than the level of the fourth quarter 2019»

«employment in persons was 2.1 million in the euro area and 2.0 million in the EU below the level of the fourth quarter of 2019»

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Eurostat ha rilasciato il Report GDP up by 2.2% and employment up by 0.7% in the euro area. In the EU, GDP up by 2.1% and employment up by 0.7%

                         GDP growth in the euro area and the EU

In the second quarter of 2021, seasonally adjusted GDP increased by 2.2% in the euro area and by 2.1% in the EU compared with the previous quarter, according to an estimate published by Eurostat, the statistical office of the European Union. In the first quarter of 2021, GDP had declined by 0.3% in the euro area and 0.1% in the EU.  

Compared with the same quarter of the previous year, seasonally adjusted GDP increased by 14.3% in the euro area and by 13.8% in the EU in the second quarter of 2021, after -1.2% in both zones in the previous quarter.

During the second quarter of 2021, GDP in the United States increased by 1.6% compared with the previous quarter (after +1.5% in the first quarter of 2021). Compared with the same quarter of the previous year, GDP increased by 12.2% (after +0.5% in the previous quarter).

                         GDP growth by Member State

Ireland (+6.3%) recorded the sharpest increase of GDP compared to the previous quarter, followed by Portugal (+4.9%), Latvia (+4.4%) and Estonia (+4.3%). Declines were observed in Malta (-0.5%) and Croatia (-0.2%).

                         GDP components and contributions to growth

During the second quarter of 2021, household final consumption expenditure increased by 3.7% in the euro area and by 3.5% in the EU (after -2.1% in the euro area and -1.7% in the EU in the previous quarter). Government final consumption expenditure increased by 1.2% in both zones (after -0.5% both in the previous quarter). Gross fixed capital formation increased by 1.1% in the euro area and by 1.0% in the EU (after -0.2% and +0.3% respectively). Exports increased by 2.2% in the euro area and by 1.8% the EU (after +0.7% in both areas). Imports increased by 2.3% in the euro area and by 2.2% in the EU (after +0.4% and +0.6%).

Household final consumption expenditure had strong positive contributions to GDP growth in both the euro area and the EU (+1.9 and +1.7 percentage points – pp, respectively). The contributions from government final expenditure (+0.3 pp in both zones) and gross fixed capital formation (+0.2 pp in both zones) were also positive. The contribution from the external balance was close to neutral for both zones, while the contribution from changes in inventories was slightly negative for the euro area and neutral for the EU.

                         GDP levels in the euro area and EU

Based on seasonally adjusted figures, GDP volumes were 2.5% and 2.2% below their highest level of the fourth quarter 2019 for the euro area and EU. For the United States, GDP was 0.8% higher than the level of the fourth quarter 2019.

                         Employment growth in the euro area and EU

The number of employed persons increased by 0.7% in both the euro area and in the EU in the second quarter of 2021, compared with the previous quarter. In the first quarter of 2021, employment had decreased by 0.2% in both the euro area and the EU.

Compared with the same quarter of the previous year, employment increased by 1.8% in the euro area and by 1.9% in the EU in the second quarter of 2021, after -1.8% and -1.6% respectively in the first quarter of 2021.

Hours worked increased by 2.7% in the euro area and by 2.4% in the EU in the second quarter of 2021, compared with the previous quarter. Compared with the same quarter of the previous year the increases were 17.0% in the euro area and 14.7% in the EU (see annex table on employment in hours worked).

These data provide a picture of labour input consistent with the output and income measure of national accounts.

                         Employment growth in Member States

In the second quarter of 2021, Latvia (+5.7%), Greece (+2.8%), Denmark and Portugal (both +1.9%) recorded the highest growth of employment in persons compared with the previous quarter. Decreases were observed in Estonia (-1.1%) and Spain (-0.9%).

                         Employment levels in the euro area and EU

Based on seasonally adjusted figures, Eurostat estimates that in the second quarter of 2021, 207.5 million people were employed in the EU, of which 159.0 million were in the euro area.

In relation to the COVID-19 pandemic, employment in persons was 2.1 million in the euro area and 2.0 million in the EU below the level of the fourth quarter of 2019.

                         Evolution of labour productivity in the euro area and EU

The combination of GDP and employment data allows an estimation of labour productivity. The analysis of growth compared to the same quarter of the previous year shows that productivity growth (based on employed persons) fluctuated around 1% for both zones between 2013 and 2018.

In relation to the COVID-19 pandemic, productivity based on persons increased compared to the same quarter of the previous year with 12.2% for the euro area and 11.6% for the EU.

Based on hours worked, productivity compared to the same quarter of the previous year decreased by 1.5% for the euro area and increased by 0.3% for the EU.

Pubblicato in: Banche Centrali, Devoluzione socialismo, Unione Europea

Europa. Luglio21. PPI, industrial producer prices, +12.2% su Luglio 2020. Inflazione a due cifre.

Giuseppe Sandro Mela.

2021-09-04.

2021-09-03__ Eurostat 001

Eurostat ha rilasciato il seguente report:

July 2021 compared with June 2021. Industrial producer prices up by 2.3% in the euro area and by 2.2% in the EU. Up by 12.1% in the euro area and by 12.2% in the EU compared with July 2020.

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2021-09-03__ Eurostat 002

In July 2021, industrial producer prices rose by 2.3% in the euro area and by 2.2% in the EU, compared with June 2021, according to estimates from Eurostat, the statistical office of the European Union. In June 2021, prices increased by 1.4% in the euro area and by 1.5% in the EU.

In July 2021, compared with July 2020, industrial producer prices increased by 12.1% in the euro area and by 12.2% in the EU.

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                         Monthly comparison by main industrial grouping and by Member State.

Industrial producer prices in the euro area in July 2021, compared with June 2021, increased by 5.7% in the energy sector, by 1.9% for intermediate goods, by 0.7% for durable consumer goods, by 0.5% for capital goods and by 0.1% for non-durable consumer goods. Prices in total industry excluding energy increased by 1.0%.

In the EU, industrial producer prices increased by 5.3% in the energy sector, by 2.1% for intermediate goods, by 0.7% for durable consumer goods, by 0.6% for capital goods and by 0.1% for non-durable consumer goods. Prices in total industry excluding energy increased by 1.1%.

The industrial producer prices increased in all Member States except Malta, where they remained stable. The highest increases were recorded in Ireland (+20.6%), Estonia (+6.4%) and Belgium (+4.2%).

                         Annual comparison by main industrial grouping and by Member State.

Industrial producer prices in the euro area in July 2021, compared with July 2020, increased by 28.9% in the energy sector, by 12.6% for intermediate goods, by 2.7% for durable consumer goods, by 2.6% for non-durable consumer goods and by 2.5% for capital goods. Prices in total industry excluding energy increased by 6.7%.

In the EU, industrial producer prices increased by 28.3% in the energy sector, by 13.1% for intermediate goods, by 3.1% for durable consumer goods and by 2.7% for capital goods and for non-durable consumer goods. Prices in total industry excluding energy increased by 6.9%.

The industrial producer prices increased in all Member States, with the highest increases being registered in Ireland (+67.7%), Estonia (+23.5%) and Belgium (+23.0%).

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A luglio i prezzi dei produttori industriali sono saliti del 12.1% nella eurozona e del 12.2% nella Unione Europea.

Si noti come il settore energetico sia levitato del 28.3%.

Tutto ciò significa una inflazione a due cifre decimali.

Siamo curiosi di leggere i commenti della banca Centrale.

Pubblicato in: Banche Centrali, Unione Europea

Blocco Europeo. 2021Q2. Pil +2.0% su 2021Q1. In questo caso il rapporto 2021Q2 su 2020Q2 sarebbe fallace.

Giuseppe Sandro Mela.

2021-08-18.

2021-08-18__ Eurostat 001

Attenzione!

Correttamente Eurostat titola riportando i rapporti 2021Q2 / 2021Q1.

Infatti il 2020Q2 è stato il peggior semestre con un secco -15%. Di conseguenza, il rapporto 2021Q2 / 2020Q2 è risultato essere abnormemente elevato.

Eurostat non ha pubblicato il riscontro contro l’ultimo semestre prima della crisi economica.

2021-08-18__ Eurostat 002

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Eurostat ha rilasciato il Report GDP up by 2.0% and employment up by 0.5% in the euro area.

GDP up by 2.0% and employment up by 0.5% in the euro area In the EU, GDP up by 1.9% and employment up by 0.6%

                         GDP growth in the euro area and EU.

In the second quarter of 2021, seasonally adjusted GDP increased by 2.0% in the euro area and by 1.9% in the EU, compared with the previous quarter, according to a flash estimate published by Eurostat, the statistical office of the European Union. In the first quarter of 2021, GDP had declined by 0.3% in the euro area and 0.1% in the EU.

During the second quarter of 2021, GDP in the United States increased by 1.6% compared with the previous quarter (after +1.5% in the first quarter of 2021). Compared with the same quarter of the previous year, GDP increased by 12.2% (after +0.5% in the previous quarter).

                   Employment growth in the euro area and EU

The number of employed persons increased by 0.5% in the euro area and by 0.6% in the EU in the second quarter of 2021, compared with the previous quarter. In the first quarter of 2021, employment had decreased by 0.2% in both the euro area and the EU.

Compared with the same quarter of the previous year, employment increased by 1.8% in both the euro area and in the EU in the second quarter of 2021, after -1.8% and -1.6% respectively in the first quarter of 2021.

These data provide a picture of labour input consistent with the output and income measure of national accounts.

Pubblicato in: Banche Centrali, Devoluzione socialismo, Economia e Produzione Industriale, Unione Europea

Europa. Giugno21. Produzione Industriale +9.7% nell’eurozona e + 10.5% nella EU, contro giugno20.

Giuseppe Sandro Mela.

2021-08-16.

2021-08-16__ Produzione Industriale 001

                         In sintesi.

– In June 2021 compared with June 2020, industrial production increased by 9.7% in the euro area and by 10.5% in the EU

– In the euro area in June 2021, compared with June 2020, production of durable consumer goods rose by 16.1%, intermediate goods by 15.7%, non-durable consumer goods by 9.8%

2021-08-16__ Produzione Industriale 002

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Nota. Nel giugno 2020 la Produzione Industriale era particolarmente depressa, per cui il rapporto 21/20 risulta essere artificialmente alto.

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Eurostat. June 2021 compared with May 2021. Industrial production down by 0.3% in euro area and by 0.2% in the EU. Up by 9.7% and 10.5% compared with June 2020

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In June 2021, the seasonally adjusted industrial production fell by 0.3% in the euro area and by 0.2% in the EU, compared with May 2021, according to estimates from Eurostat, the statistical office of the European Union. In May 2021, industrial production fell by 1.1% in the euro area and by 0.9% in the EU.

In June 2021 compared with June 2020, industrial production increased by 9.7% in the euro area and by 10.5% in the EU.

                         Monthly comparison by main industrial grouping and by Member State.

In the euro area in June 2021, compared with May 2021, production of capital goods fell by 1.5% and energy by 0.6%, while production of durable consumer goods and intermediate goods both rose by 0.1% and non-durable consumer goods by 1.6%.

In the EU, production of capital goods fell by 1.2% and energy by 0.2%, while production of intermediate goods rose by 0.2%, durable consumer goods by 0.5% and non-durable consumer goods by 1.4%.

Among Member States for which data are available, the largest decreases were registered in Ireland (-4.4%), Portugal (-2.6%) and Denmark (-2.3%). The highest increases were observed in Malta (+5.2%), the Netherlands (+3.3%) and Estonia (+3.2%).

                         Annual comparison by main industrial grouping and by Member State.

In the euro area in June 2021, compared with June 2020, production of durable consumer goods rose by 16.1%, intermediate goods by 15.7%, non-durable consumer goods by 9.8%, capital goods by 6.3% and energy by 2.9%.

In the EU, production of durable consumer goods rose by 16.4%, intermediate goods by 16.1%, non-durable consumer goods by 8.9%, capital goods by 8.1% and energy by 3.9%.

Industrial production increased in all Member States for which data are available, with the largest increases in Belgium (+23.2%), Lithuania (+20.1%) and Slovenia (+18.9%).

Pubblicato in: Banche Centrali, Devoluzione socialismo, Unione Europea

Unione Europea. Giugno21. Vendite al dettaglio +5.0% su giugno20.

Giuseppe Sandro Mela.

2021-08-06.

2021-08-05__ EU Retail trade 001

                         In sintesi.

– retail trade rose by 1.5% in the euro area and by 1.2% the EU, compared with May 2021

– In June 2021 compared with June 2020, the calendar adjusted volume of retail trade increased by 5.0% in the euro area and by 5.3% in the EU

– retail trade increased by 11.9% for automotive fuels, compared with  June 2020

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2021-08-05__ EU Retail trade 002


Eurostat. Volume of retail trade up by 1.5% in the euro area and by 1.2% in the EU.

Up by 5.0% and 5.3% compared with June 2020

In June 2021, the seasonally adjusted volume of retail trade rose by 1.5% in the euro area and by 1.2% the EU, compared with May 2021, according to estimates from Eurostat, the statistical office of the European Union. In May 2021, the retail trade volume increased by 4.1% in the euro area and by 4.2% in the EU.

In June 2021 compared with June 2020, the calendar adjusted volume of retail trade increased by 5.0% in the euro area and by 5.3% in the EU.

                         Monthly comparison by retail sector and by Member State

In the euro area in June 2021, compared with May 2021, the volume of retail trade increased by 3.8% for automotive fuels and by 3.4% for non-food products, while it decreased by 1.5% for food, drinks and tobacco.

In the EU the volume of retail trade increased by 3.6% for automotive fuels and by 2.6% for non-food products, while it decreased by 1.1% for food, drinks and tobacco.

Among Member States for which data are available, the highest monthly increases in total retail trade were registered in Ireland (+9.4%), Germany and Latvia (both +4.2%) and Lithuania (+2.0). The largest decreases were observed in Malta (-3.0%), Austria (-2.7%) and Croatia (-2.6%).

                         Annual comparison by retail sector and by Member State

In the euro area in June 2021, compared with June 2020, the volume of retail trade increased by 11.9% for automotive fuels, by 6.5% for non-food products and by 1.4% for food, drinks and tobacco.

In the EU, the volume of retail trade increased by 11.5% for automotive fuels, by 7.1% for non-food products and by 1.7% for food, drinks and tobacco.

Among Member States for which data are available, the highest annual increases in total retail trade were registered in Bulgaria (+22.7%), Lithuania (+15.3%) and Slovenia (+12.8%). The only decrease was registered in Luxembourg (-3.2%).

Pubblicato in: Banche Centrali, Devoluzione socialismo, Unione Europea

Unione Europea. Giugno21. Industrial producer prices (PPI) +10.3% su giugno20.

Giuseppe Sandro Mela.

2021-08-05.

2021-08-05__ Europa PPI 001

                         In sintesi.

– In June 2021, compared with June 2020, industrial producer prices increased by 10.2% in the euro area and by 10.3% in the EU

– industrial producer prices increased by 24.8% in the energy sector.

2021-08-05__ Europa PPI 002

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2021-08-05__ Europa PPI 003

Nella Unione Europea lo Industrial Producer Prices (PPI) valeva 4.2% a fine marzo e 7.6% a fine aprile.

Questi costi alla produzione industriale indicano la presenza di un severo processo inflattivo, che per di più sembrerebbe essere in costante crescita.

Un incremento annuale del 24.8% degli energetici è un aumento che si riverbera su ogni tipo di produzione e di consumi.

Se sicuramente tale aumento sia sostenuto da forti rincari delle materie prime, sarebbe da ricordare come tali prodotti siano gravati da una tassazione al di fuori di ogni ben dell’intelletto.

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Eurostat. Industrial producer prices up by 1.4% in both the euro area and the EU.

Up by 10.2% in the euro area and by 10.3% in the EU compared with June 2020

In June 2021, industrial producer prices rose by 1.4% in both the euro area and the EU, compared with May 2021, according to estimates from Eurostat, the statistical office of the European Union. In May 2021, prices increased by 1.3% in the euro area and by 1.4% in the EU.

In June 2021, compared with June 2020, industrial producer prices increased by 10.2% in the euro area and by 10.3% in the EU.

                         Monthly comparison by main industrial grouping and by Member State

Industrial producer prices in the euro area in June 2021, compared with May 2021, increased by 3.3% in the energy sector, by 1.3% for intermediate goods, by 0.4% for capital goods and by 0.3% for durable and non-durable consumer goods. Prices in total industry excluding energy increased by 0.7%.

In the EU, industrial producer prices increased by 3.4% in the energy sector, by 1.4% for intermediate goods, by 0.4% for capital goods and for non-durable consumer goods and by 0.3% for durable consumer goods. Prices in total industry excluding energy increased by 0.8%.

The highest increases in industrial producer prices were recorded in Denmark (+5.1%), Estonia (+4.6%) and Latvia (+3.1%), while the only decrease was observed in Ireland (-0.3%).

                         Annual comparison by main industrial grouping and by Member State

Industrial producer prices in the euro area in June 2021, compared with June 2020, increased by 25.4% in the energy sector, by 10.6% for intermediate goods, by 2.3% for durable and non-durable consumer goods and by 2.0% for capital goods. Prices in total industry excluding energy increased by 5.6%.

In the EU, industrial producer prices increased by 24.8% in the energy sector, by 10.9% for intermediate goods, by 2.5% for durable and non-durable consumer goods and by 2.1% for capital goods. Prices in total industry excluding energy increased by 5.9%.

The industrial producer prices increased in all Member States, with the highest increases being registered in Ireland (+42.5%), Belgium (+20.7%) and Denmark (+19.1%).

Pubblicato in: Banche Centrali, Devoluzione socialismo, Unione Europea

Unione Europea. 2021Q2. Pil EU +2.0%, Pil eurozona +1.9% sul 2021Q1.

Giuseppe Sandro Mela.

2021-08-01.

2021-08-01__ Eurostat PIL 001

Eurostat ha rilasciato il Report preliminare  GDP up by 2.0% in the euro area and by 1.9% in the EU.

Correttamente, l’Istituto di Statistica ha titolato con il confronto sul trimestre precedente.

Infatti, il Pil 2020Q2 era stato inusitatamente basso, motivo per cui il rapporto 2021Q2/2020Q2 è abnormemente alto.

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Eurostat. GDP up by 2.0% in the euro area and by 1.9% in the EU.

Preliminary flash estimate for the second quarter of 2021. GDP up by 2.0% in the euro area and by 1.9% in the EU. +13.7% and +13.2% respectively compared with the second quarter of 2020.

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In the second quarter 2021, seasonally adjusted GDP increased by 2.0% in the euro area and by 1.9% in the EU, compared with the previous quarter, according to a preliminary flash estimate published by Eurostat, the statistical office of the European Union. In the first quarter of 2021, GDP had declined by 0.3% in the euro area and 0.1% in the EU.

These preliminary GDP flash estimates are based on data sources that are incomplete and subject to further revisions.

Compared with the same quarter of the previous year, seasonally adjusted GDP increased by 13.7% in the euro area and by 13.2% in the EU in the second quarter of 2021, after -1.3% in both zones in the previous quarter.

Among the Member States for which data are available for the second quarter 2021, Portugal (+4.9%) recorded the highest increase compared to the previous quarter, followed by Austria (+4.3%) and Latvia (+3.7%), while Lithuania (+0.4%) and Czechia (+0.6%) recorded the lowest increase. The year on year growth rates were positive for all countries.

Source dataset: namq_10_gdp

The next estimates for the second quarter of 2021 will be released on 17 August 2021.

Pubblicato in: Banche Centrali, Unione Europea

Europa. Prezzi della produzione industriale +9.6% anno su anno. Ma l’inflazione sarebbe all’1.9%.

Giuseppe Sandro Mela.

2021-07-06.

2021-07-04__ Zona Euro - Indice dei prezzi alla produzione (Annuale) 001

In sintesi.

– In May 2021, compared with May 2020, industrial producer prices increased by 9.6% in both the euro area and the EU.

– Industrial producer prices in the euro area in May 2021, compared with May 2020, increased by 25.1% in the energy sector.

– highest increases being registered in Ireland (+45.1%), Belgium (+20.1%) and Denmark (+17.2%).

2021-07-02__ Eurozona PPI 002

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2021-07-02__ Eurozona PPI 003

Euro area annual inflation down to 1.9%

«Euro area annual inflation is expected to be 1.9% in June 2021, down from 2.0% in May according to a flash estimate from Eurostat, the statistical office of the European Union.»

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Occidente si sta suicidando per motivi ideologici con alti costi dell’energia.

Germania. Maggio21. Prezzi import +11.8%, Prezzi Export +4.2%. – Destatis.

Materie Prime. Rincari che sostengono una inflazione strutturale, duratura e severa.

Inflazione. Il costo di un container da Shanghai a Rotterdam è 10,522

Germania. Maggio21. Prezzi di produzione (PPI) +7.2% anno su anno. – Destatis.

Con un indice dei prezzi della produzione industriale del +9.6% ci si sarebbe aspettati una inflazione ben maggiore dell’1.9%. A maggior ragione tenendo presente come i costi per l’energia siano aumentati del 25.1%.

Sono conti che proprio non tornano.

*

P.S.

Ci si domanda se gli amici di Eurostat vadano mai a fare la spesa.

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Eurostat ha rilasciato il Report Industrial producer prices up by 1.3% in the euro area and by 1.4% in the EU MoM. Up by 9.6% in both the euro area and the EU compared with May 2020.

In May 2021, industrial producer prices rose by 1.3% in the euro area and by 1.4% in the EU, compared with April 2021, according to estimates from Eurostat, the statistical office of the European Union. In April 2021, prices increased by 0.9% in both the euro area and the EU.

In May 2021, compared with May 2020, industrial producer prices increased by 9.6% in both the euro area and the EU.

                         Monthly comparison by main industrial grouping and by Member State

Industrial producer prices in the euro area in May 2021, compared with April 2021, increased by 2.1% in the energy sector, by 1.8% for intermediate goods, by 0.4% for capital goods and by 0.3% for durable consumer goods and for non-durable consumer goods. Prices in total industry excluding energy increased by 0.9%.

In the EU, industrial producer prices increased by 2.3% in the energy sector, by 1.9% for intermediate goods, by 0.4% for capital goods and for durable consumer goods, and by 0.3% for non-durable consumer goods. Prices in total industry excluding energy increased by 1.0%.

The industrial producer prices increased in all Member States, with the highest increases being recorded in Ireland (+5.3%), Denmark (+3.3%) and Finland (+2.6%).

                         Annual comparison by main industrial grouping and by Member State

Industrial producer prices in the euro area in May 2021, compared with May 2020, increased by 25.1% in the energy sector, by 9.2% for intermediate goods, by 2.0% for durable consumer goods, by 1.9% for non-durable consumer goods and by 1.8% for capital goods. Prices in total industry excluding energy increased by 4.9%.

In the EU, industrial producer prices increased by 24.8% in the energy sector, by 9.4% for intermediate goods, by 2.3% for durable consumer goods, by 2.0% for non-durable consumer goods and by 1.8% for capital goods. Prices in total industry excluding energy increased by 5.0%.

The industrial producer prices increased in all Member States, with the highest increases being registered in Ireland (+45.1%), Belgium (+20.1%) and Denmark (+17.2%).