Market Updates

Euro-Area FDI Plunges; Romania Jobless Rate at 7.6%

Arthi Gupta
27 Jun, 2011
New York City

    Foreign direct investment in the European Union plunged 75% to

[R]2:00 PM Frankfurt – Foreign direct investment in the European Union plunged 75% to €54 billion. Romania jobless rate rose in the first quarter. Finnish retail sales increased and Sweden trade surplus improved in May.[/R]

EU27 FDI Plummets

The foreign direct investment from the wider EU 27 zone in the rest of the world dropped 62% to €107 billion in 2010 from €281 billion in 2009, data published by Eurostat showed today.

FDI into the EU27 from the rest of the world plunged 75% to €54 billion in 2010 from €216 billion in 2009.

The sharp plunge in EU27 investments in the rest of the world was due to sharp declines in investments from the offshore financial centers, the USA and Switzerland.

Romania Jobless Rate Up

Unemployment in Romania, based on ILO norms, increased to 7.6% in the first quarter from 7.3% in the previous three months, data released by the National Institute of Statistics showed today. In the first quarter of 2010, the jobless rate was 8.1%.

The unemployment rate among youth, aged between 15 and 24, was 23.6% in the first quarter. There were 741,000 unemployed persons in Romania in the first quarter.

Finnish Retail Sales Rise, Sentiment Worsens

Retail sales in Finland increased 7.9% annually in May, at the same pace as in April, data from Statistics Finland showed. In volume terms, retail sales grew 5.5% in May, after rising 1.7% in April.

Separately, in Finland the consumer confidence index declined to 11.4 in June from 15.4 in May, data released by Statistics Finland showed Monday. The index was at 18.7 in June 2010.

Sweden Surplus Improves

Sweden''s goods trade surplus rose to SEK 5.7 billion in May compared to the SEK 4 billion surplus in April, Statistics Sweden said. A year ago, the trade balance surplus was SEK 1.5 billion.

Exports grew 17% annually to SEK 107 billion and imports rose 13% to SEK 101.3 billion.

Italian Hourly Wages Steady

Italy''s hourly wages remained flat on a monthly comparison in May after rising 0.1% in April, data from the statistics office Istat showed

On an annual basis, hourly wages rose 1.8% in May, the same rate of growth in April.

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