Retail trade edges up in Europe

The volume of retail trade increased by 0.1% in the eurozone in January, compared with December 2008. In the EU27, which includes European Union countries not part of the single currency, retail trade increased by 0.6%, according to first 6576&_dad=portal&_schema=PORTAL” target=”_blank”>report released today, Eurostat says that labour costs in the eurozone rose by 3.8% in the year up to the fourth quarter of 2008. In the previous quarter it rose by 4.2%.

In the EU27 area, the annual rise in labour costs was 4.6%, compared with 4.2% for the previous quarter.

Eurozone wages and salaries increased by 3.9% and non-wage costs increased by 3.6%. In the third quarter of 2008, rises of 4.2% and 4.3% were recorded.
In the EU27, wages and salaries rose by 4.7% while the non-wage component rose by 4.2%. For the previous quarter, the corresponding rates were 4.3% and 4.1%.
Eurostat says that a breakdown by economic activity shows that eurozone labour costs rose at an annual rate of 5.4% in industry. In construction, they rose by 5.1%, and in services by 2.6%. In the EU27, labour costs rose by 6% in industry, 5.1% in construction and 3.8% in services.