EU Indicators

June 2013 compared with May 2013
Industrial production up by 0.7% in euro area
Up by 0.9% in EU27
In June 2013 compared with May 2013, seasonally adjusted industrial production
 grew by 0.7% in the euro area
(EA17) and by 0.9% in the EU272
, according to estimates released by Eurostat, the statistical office of the
European Union. In May3
 production decreased by 0.2% and 0.4% respectively.
In June 2013 compared with June 20124
, industrial production increased by 0.3% in the euro area and by 0.4% in the EU27.
In June 2013 compared with May 2013, production of durable consumer goods grew by 4.9% in the euro area and
by 4.2% in the EU27. Capital goods increased by 2.5% in both zones. Intermediate goods rose by 0.5% in the euro
area and by 0.8% in the EU27. Non-durable consumer goods fell by 0.6% and 0.3% respectively. Energy dropped
by 1.6% in the euro area and by 1.3% in the EU27.
Among the Member States for which data are available, industrial production rose in fourteen and fell in eight. The
highest increases were registered in Ireland (+8.7%), Romania (+5.7%), Poland (+3.1%), Germany and Greece
(both +2.5%), and the largest decreases in the Netherlands (-4.1%), Portugal (-2.8%) and France (-1.5%).
In June 2013 compared with May 2013, production of durable consumer goods grew by 4.9% in the euro area and
by 4.2% in the EU27. Capital goods increased by 2.5% in both zones. Intermediate goods rose by 0.5% in the euro
area and by 0.8% in the EU27. Non-durable consumer goods fell by 0.6% and 0.3% respectively. Energy dropped
by 1.6% in the euro area and by 1.3% in the EU27.
Among the Member States for which data are available, industrial production rose in fourteen and fell in eight. The
highest increases were registered in Ireland (+8.7%), Romania (+5.7%), Poland (+3.1%), Germany and Greece
(both +2.5%), and the largest decreases in the Netherlands (-4.1%), Portugal (-2.8%) and France (-1.5%).
In June 2013 compared with June 2012, capital goods grew by 3.3% in the euro area and by 3.2% in the EU27.
Durable consumer goods fell by 1.0% in the euro area and increased by 0.1% in the EU27. Non-durable consumer
goods dropped by 1.1% and 0.5% respectively. Intermediate goods declined by 1.3% in the euro area and by 0.7%
in the EU27. Energy decreased by 1.7% and 2.9% respectively.
Among the Member States for which data are available, industrial production rose in eleven and fell in eleven. The
highest increases were registered in Romania (+9.6%), Poland (+5.3%) and Estonia (+4.7%), and the largest
decreases in Finland (-5.9%), Bulgaria (-4.4%) and the Czech Republic (-3.0%)

Source Eurostat

Mexico´s president proposes to open oil sector to foreign investors

President Enrique Pena Nieto has proposed reforms that will encourage foreign and domestic investment in the industry.

Mexico's oil industry is dominated by the state oil firm Pemex, but it needs investment and expertise to develop new oil and gas fields.

Currently, private companies can be awarded service contracts within the oil industry.

If the reforms go through, analysts say the liberalisation of the oil sector could double foreign investment in Mexico, giving the economy the biggest boost since the country joined North American Free Trade Agreement (NAFTA) twenty years ago.

BBC Correspondent in Mexico, Will Grant said: "The reform won't be simple to get through congress.

"The government faces a complicated task in negotiating with all sides, including the powerful unions.

"Yet, there is a growing sense among ordinary Mexicans that Pemex is no longer fit for purpose, is an aging and out-dated institution and that root and branch reform is probably needed," he said.

A large share of Pemex's profits support government spending which has hampered the company's ability to fund new projects.

The government has warned that Mexico faces becoming a net oil importer as early as 2018, if major new oil projects cannot be developed.

Foreign oil companies, including BP and Exxon Mobil, are waiting to see the details of the reforms to see exactly what investments will be allowed.

According to figures from OPEC, Mexico is the world's 10th-biggest producer of crude. Production has fallen by 25% since hitting a peak of 3.4m barrels per day in 2004.

Source  BBC