European Central Bank, (2016), “Economic Bulletin – Issue 8 / 2016”, ECB, 22 December At its monetary policy meeting on 8 December 2016, based on the regular economic and monetary analyses, the Governing Council conducted a comprehensive assessment of the economic and inflation outlook and the monetary policy stance. The assessment confirmed the need to extend the asset purchase programme beyond March 2017 to preserve the very substantial amount of …Read More

Eurostat/EU28 current account surplus €16.1 bn – First estimate for October 2016/259/2016 – 20 December The EU28 seasonally adjusted current account of the balance of payments recorded a surplus of €16.1 bn in October 2016, compared with surpluses of €17.4 bn in September 2016 and €7.3 bn in October 2015, according to estimates from Eurostat, the statistical office of the European Union. In October 2016, compared with September 2016, based …Read More

Eurostat/Annual growth in labour costs up to 1.5% in euro area – Third quarter of 2016/258/2016 – 19 December Hourly labour costs rose by 1.5% in the euro area (EA19) and by 1.9% in the EU28 in the third quarter of 2016, compared with the same quarter of the previous year. In the second quarter of 2016, hourly labour costs increased by 1.0% in the euro area (EA19) and by …Read More

European Commission/Report on Public Finances in EMU 2016/Institutional Paper 045 December 2016 This report (Part IV) discusses the methodological issues related to the assessment of the euro area fiscal stance. As a general rule, this is done against the objectives of short-term stabilisation of the economy and long-term sustainability of public finances. The interplay between these two objectives and the aggregation issues may prove very complex and the report provides …Read More

Eurostat/Euro area international trade in goods surplus €20.1 bn-October 2016/255/2016 – 16 December 2016 The first estimate for euro area (EA19) exports of goods to the rest of the world in October 2016 was €172.5 billion, a decrease of 5% compared with October 2015 (€180.8 bn). Imports from the rest of the world stood at €152.4 bn, a fall of 3% compared with October 2015 (€157.5 bn). As a result, …Read More

Eurostat/Annual inflation up to 0.6% in the euro area – November 2016/256/2016 – 16 December Euro area annual inflation was 0.6% in November 2016, up from 0.5% in October. In November 2015 the rate was 0.1%. European Union annual inflation was 0.6% in November 2016, up from 0.5% in October. A year earlier the rate was 0.1%. These figures come from Eurostat, the statistical office of the European Union. In …Read More

Eurostat/Employment up by 0.2% in both euro area and EU28 – Third quarter of 2016/249/2016 – 13 December The number of persons employed increased by 0.2% in both the euro area (EA19) and the EU28 in the third quarter of 2016 compared with the previous quarter, according to national accounts estimates published by Eurostat, the statistical office of the European Union. In the second quarter of 2016, employment rose by …Read More

ECB/Eurosystem staff macroeconomic projections for the euro area – December 2016/8 December The economic recovery in the euro area is expected to continue, broadly in line with the September 2016 projections. The expected global recovery and resilient domestic demand, supported by the very accommodative monetary policy stance, past progress made in deleveraging across sectors and a continued improvement in the labour market are projected to sustain the recovery over the …Read More

Eurostat/GDP and main aggregates estimate for the third quarter of 2016/244/2016 – 6 December  GDP up by 0.3% in the euro area and by 0.4% in the EU28, +1.7% and +1.9% respectively compared with the third quarter of 2015 Seasonally adjusted GDP rose by 0.3% in the euro area (EA19) and by 0.4% in the EU28 during the third quarter of 2016, compared with the previous quarter, according to an …Read More

OECD/PISA scores performance 2015 – Greece/2016 This section presents country performance compared to the OECD average and medium term trends. It covers all the main PISA subject areas and a summary for the equity challenges the country might face. Relevant Posts European Commission/Education and Training Monitor 2016 – Greece/November 2016 Turner, Adair, (2016), “ The Skills Delusion”, Social Europe, 7 November