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The Producer Price Index for Finished Goods moved down 0.3 percent in May, seasonally adjusted, the U.S. Bureau of Labor Statistics reported. This decline followed a 0.1-percent decrease in April and a 0.7-percent increase in March. At the earlier stages of processing, prices received by producers of intermediate goods advanced 0.4 percent and the crude goods index fell 2.8 percent. On an unadjusted basis, prices for finished goods rose 5.3 percent for the 12 months ended May 2010. This was the second consecutive month of slowing year-over-year advances after a 6.0-percent increase for the 12 months ended March 2010.

The rapid growth of emerging economies has led to a shift in economic power: forecasts based on analysis by late economist Angus Maddison suggest that the aggregate economic weight of developing and emerging economies is about to surpass that of the countries that currently make up the advanced world.

Hourly labour costs in the euro area (EA16) rose by 2.1% in the year up to the first quarter of 2010, compared with 1.7% for the previous quarter. In the EU27, the annual rise was 2.2% up to the first quarter of 2010, compared with 2.0% for the previous quarter.

Euro area annual inflation was 1.6% in May 2010, up from 1.5% in April. A year earlier the rate was 0.0%. Monthly inflation was 0.1% in May 2010.

Small-business owners’ work-related online activities correlate with above- or below-average sales, according to a study by American City Business Journals of owners, CEOs and presidents of US companies with fewer than 500 employees.

Plans for a strong, common EU agricultural policy, equipped to deliver public goods such as climate change reduction, food security and food quality, based on a fair support system and reformed to improve competitiveness and returns to farmers were set out by the Agriculture Committee.

The Conference Board Leading Economic Index® (LEI) for Korea increased 0.2 percent and The Conference Board Coincident Economic Index® (CEI) for Korea increased 0.5 percent in April.

The number of persons employed in the euro area (EA16) was stable in the first quarter of 2010 compared with the previous quarter, according to national accounts estimates published by Eurostat, the statistical office of the European Union. In the same period, the number of persons employed in the EU27 decreased by 0.2% (455 000 persons). In the fourth quarter of 2009, employment declined by 0.2% in the euro area and by 0.3% in the EU27. These figures are seasonally adjusted.

The first estimate for the euro area (EA16) trade balance with the rest of the world in April 2010 gave a 1.8 billion euro surplus, compared with +2.6 bn in April 2009. The March 2010 balance was +4.5 bn, compared with +1.5 bn in March 2009. In April 2010 compared with March 2010, seasonally adjusted exports fell by 2.4% and imports by 3.5%.

The Conference Board Leading Economic Index® (LEI) for China increased 1.7 percent, and The Conference Board Coincident Economic Index® (CEI) increased 1.2 percent in April.