For the period from April to September 2019 the net percentage of euro area small and medium-sized enterprises’ (SMEs) turnover remained broadly stable at robust levels (20%, down from 21% for the previous period). For the first time since mid-2016, euro area SMEs reported a deterioration in profits in net terms (-1%, down from 0%), as SMEs continued to report growing labour costs (50%, down from 52%), increases in other costs (i.e. material and energy) (53%, down from 57%),...

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At the COP 25 United Nations Climate Change Conference in Madrid, the European Investment Bank (EIB), the EU bank, will be discussing how its new climate action roadmap and recent decision to phase out support for unabated fossil fuel energy projects can support European Union leadership on international climate action. The EIB delegation will engage with national governments, the private sector and civil society as well as fellow financial and European institutions to debate how more climate finance can be...

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Downside risks to global and euro area economic growth have increased and continue to create financial stability challenges, according to the November 2019 Financial Stability Review (FSR) of the European Central Bank (ECB). Low interest rates should support economic activity in the euro area, but may also encourage excessive risk-taking by some non-bank financial institutions and highly leveraged non-financial corporations, and in some real estate markets. “While the low interest rate environment supports the overall economy, we also note an increase...

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Ian Steff, Deputy Assistant Secretary for Manufacturing, Performing the non-exclusive functions and duties of the Assistant Secretary of Global Markets and Director General of the United States and Foreign Commercial Service, recently led the U.S. delegation to Berlin, Germany for the U.S.-Germany Informal Commercial Exchange (ICE). The talks were held with senior German officials to discuss ways to further strengthen the substantial U.S.-German economic ties and expand cooperation on the investment environment. The delegation was hosted by Dr. Eckhard...

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The European Commission published today its proposal for an EU-US agreement on conformity assessment for industrial products, in line with its commitment to enhanced transparency in trade negotiations. A product exported between the two sides often has to undergo an assessment to demonstrate that it complies with the technical and safety requirements of the importing party, a so-called 'conformity assessment'. This often means additional costs for exporters, which is especially burdensome for smaller companies, who often decide not to export...

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The European Parliament will vote on Ursula von der Leyen’s college of Commissioners next Wednesday 27 November, paving the way for the new Commission to start work on 1 December. The vote will take place during the Plenary session in Strasbourg, following the approval by the Council of the list of 27 Commissioners on Friday 22 November. The UK has declined to nominate a Commissioner before the general election on Thursday 12 December, despite having agreed to do so as...

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As in the rest of the world, European trade and manufacturing have weakened. There are some signs that this slowdown is spreading into the rest of the economy. While services and consumption have remained relatively resilient in line with strong labor markets, investment is starting to lose steam. These developments have slowed economic activity in the region, especially in advanced Europe, according to the IMF’s latest health check of Europe’s economy. The report predicts growth will moderate from 2.3 percent in 2018 to 1.4...

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The results of a special Eurobarometer survey published today by the European Commission show that 60% of Europeans feel that they personally benefit from international trade, 16 percentage points more than 10 years ago at the time of the previous poll. The survey also revealed that 71% of respondents believe that the EU is more effective in defending their countries' trade interests than these countries acting on their own. Commissioner for Trade, Cecilia Malmström said: ”When I took office five...

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British taxpayers face paying out for a large fine after the EU launched a legal action against Boris Johnson’s government over his failure to abide by the law and nominate a candidate for the new European commission. Despite knowing for weeks that the UK would remain in the EU beyond 31 October, when a new EU executive had been due to be in place, Downing Street failed to put someone forward to join the bloc’s 28-strong top team. Johnson instead belatedly...

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Climate change induced natural disasters are growing in frequency and intensity. Social and economic impacts are already being felt across the globe today. Thus, increasing resilience and adapting to the worst effects of climate change is a critical priority for both the European Union (EU) and the U.S. Climate Alliance, which can also bring world class expertise and solutions to address those challenges.   By hosting a forum in Washington, DC on 8 November 2019 where practitioners can share experiences and identify...

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