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In August 2012 compared with July 2012, the volume of retail trade rose by 0.1% in the euro area (EA17) and fell by 0.1% in the EU272. In July retail trade increased by 0.1% and 0.2% respectively. In August 2012, compared with August 2011, the retail sales index fell by 1.3% in the euro area and remained stable in the EU27.

In August 2012, compared with July 2012, the industrial producer price index rose by 0.9% in the euro area (EA17) and by 1.0% in the EU272. In July prices increased by 0.3% in both zones. In August 2012 compared with August 2011, industrial producer prices gained 2.7% in both the euro area and the EU27.

The euro area (EA17) seasonally-adjusted unemployment rate was 11.4% in August 2012, stable compared with July. The EU27 unemployment rate was 10.5% in August 2012, also stable compared with July. In both zones, rates have risen compared with August 2011, when they were 10.2% and 9.7% respectively.

The Europe 2020 strategy, adopted by the European Council in June 2010, aims at establishing a smart, sustainable and inclusive economy with high levels of employment, productivity and social cohesion. The key objectives of the strategy are expressed in the form of five targets on employment, research & development, climate change & energy, education and poverty & social exclusion. These targets are monitored on the basis of headline indicators that Eurostat compiles and publishes.

In the construction sector, seasonally adjusted production fell by 0.3% in the euro area (EA17) and by 0.2% in the EU27 in July 2012, compared with the previous month. In June 2012, production decreased by 0.6% and 1.4% respectively. Compared with July 2011, production in July 2012 dropped by 4.7% in the euro area and by 6.1% in the EU27.

EU27 international trade in goods with China has grown significantly over the last decade. EU27 exports to China rose continuously from 26 billion euro in 2000 to 136 bn in 2011. Despite the general decline in EU27 exports in 2009, EU27 exports to China continued to increase. EU27 imports from China rose from 75 bn in 2000 to 248 bn in 2008, then declined to 214 bn in 2009, following the general downwards trend in EU27 imports, before reaching a new peak of 293 bn in 2011. As a result, the EU27 trade deficit with China which had increased from 49 bn in 2000 to a peak of 170 bn in 2008, fell to 156 bn in 2011.

Hourly labour costs in the euro area (EA17) rose by 1.6% in the year up to the second quarter of 2012, compared with 1.5% for the first quarter of 2012. In the EU27, the annual rise was 1.8% up to the second quarter of 2012, compared with 1.4% for the previous quarter.

The first estimate for the euro area (EA17) trade in goods balance with the rest of the world in July 2012 gave a 15.6 bn euro surplus, compared with +2.1 bn in July 2011. The June 2012 balance was +13.6 bn, compared with +0.2 bn in June 2011. In July 2012 compared with June 2012, seasonally adjusted exports fell by 2.0% and imports by 1.2%.

GDP decreased by 0.2% in the euro area (EA17) and by 0.1% in the EU27 during the second quarter of 2012, compared with the previous quarter, according to second estimates released by Eurostat, the statistical office of the European Union. In the first quarter of 2012, growth rates were 0.0% in both zones.

In July 2012 compared with June 2012, the volume of retail trade fell by 0.2% in the euro area (EA17) and remained stable in the EU27. In June retail trade rose by 0.1% and 0.2% respectively. In July 2012, compared with July 2011, the retail sales index fell by 1.7% in the euro area and by 0.2% in the EU27.