Recession in the EU-27: length and depth of the downturn varies across activities and countries.
Statistics in focus. Industry, trade and services 97/2009.
In simplified terms, the financial crisis during the summer of 2007 resulted from a fall in asset prices after a period of asset price inflation, leading to a liquidity shortage among financial institutions and concerns over their solvency. These concerns were subsequently transmitted, often in the first half of 2008, to non-financial sectors (the so-called ‘real economy’), as credit facilities were withdrawn and business and consumer confidence fell. The length and depth of the recession was considerable and in some cases the contraction in activity was the largest seen since the 1930s; however, there are now signs of a recovery. This publication therefore takes stock of the situation by measuring the extent of the recession from the most recent peaks in activity to the bottom of the cycle when output reached its lowest point (troughs). The publication also sets the recession in context by comparing it with earlier periods when business activity also experienced a contraction. [+]
En Berlín y Bruselas dudan cada vez más de que Grecia pueda solucionar sus problemas de endeudamiento sin ayuda externa. Si no se hace nada, el país corre el riesgo de quebrar, lo cual tendría consecuencias imprevisibles para la moneda europea. Una ola de nerviosismo inunda las bolsas, las capitales de la UE, los ministerios de economía y finanzas, el centro financiero de Alemania en Frankfurt e incluso la sede del Fondo Monetario Internacional en Washington. Todo el mundo se hace la misma pregunta: ¿Qué ocurre cuando un país, incluso un miembro de la Unión Monetaria Europea, cae en quiebra? ¿Puede permitirlo la UE? En cualquier caso, la UE no puede expulsar a Grecia de la zona euro y dejar que el país se las arregle solo, aunque los griegos engañaran para entrar en el club de la moneda única con la ayuda de cifras de presupuesto amañadas. (Der Spiegel, 15.12.2009)
Deuda pública fuera de control, evasión fiscal galopante, un agujero en las pensiones... el país está al borde de la bancarrota, según la prensa europea, que se inquieta por las posibles consecuencias para el euro y por un posible efecto dominó que arrastrara a los países peor parados. (PressEurop, 9.12.2009)
Economic crisis stops air transport growth. Air transport in Europe in 2008.
Statistics in focus. Transport 91/2009.
In 2008, 798 million passengers were transported by air to, from or within the EU-27. Although this represents a small annual growth of 0.6% compared to 2007, the effect of the economic crisis on the air transport industry of the EU-27 became apparent during the course of the year. Indeed, while in the first two quarters of 2008, a comparison of air passengers with 2007 indicated a growth of 4.4%, by the last quarter, the data showed a fall of 5.6%. This brings to an end an uninterrupted period of six years of sustained growth in the air transport industry. As regards air transport of freight and mail, the picture is similar. In 2008, 12.9 million tonnes were loaded or unloaded in the EU-27, an annual increase of 3.3%. However, there was a declining trend over the year that ended with a 14% decrease by the month of December. At airport level, London Heathrow and Frankfurt/Main continued to be the largest airports in the EU-27 in terms of passengers carried and freight and mail loaded/unloaded respectively. [+]
Recession in the EU: its impact on retail trade.
Statistics in focus. Industry, trade and services 88/2009.
The financial crisis during the summer of 2007 resulted from a fall in asset prices after a period of asset price inflation, leading to a liquidity shortage among financial institutions and concerns over their solvency. These concerns were subsequently transmitted to the non-financial sectors (the so-called ‘real economy’), as credit facilities were withdrawn and business and consumer confidence fell. The resulting recession saw household demand retract, particularly in relation to major purchases of consumer durables (for example, cars) and housing, both highly credit dependent markets. This publication uses (principally) short-term business indicators to look at the impact of the recession on trends in the EU’s retail trade sector. It is the third in a series of Statistics in Focus publications – following on from issues 17 and 60/2009 – which provided information relating to the effects of the financial crisis/recession on output and on employment in the EU-27’s business economy. [+]