natgillin/translations-raw huggingface dataset:
The annual growth rate of compensation per employee in services in the first three quarters of 2007 was lower than in the previous two years.
Umiritev medletnih stopenj rasti sredstev za zaposlene in skupnih stroškov dela na uro je bila delno posledica znižanja prispevkov za socialno varnost, ki so jih nekatera gospodarstva euroobmočja uvedla leta 2007.
Other available labour cost indicators confirm that wage developments remained moderate in 2007.
Drugi razpoložljivi kazalniki stroškov dela potrjujejo, da so gibanja plač v letu 2007 ostala
In particular, negotiated wage growth stood at 2.1% on average in the euro area in 2007, slightly below the rate in 2006, although wage developments varied considerably from country
RAST CEN STANOVANJSKIH NEPREMIČNIN SE JE ŠE BOLJ UMIRILA Cene stanovanjskih nepremičnin, ki niso vključene v izračun indeksa HICP, so se v prvi polovici leta 2007 upočasnile in nadaljevale trend
Table 2 Labour cost indicators
Tabela 2 Kazalniki stroškov dela
Negotiated wages Total hourly labour costs Compensation per employee Memo items Labour productivity Unit labour costs
Dogovorjene plače Skupni stroški dela na uro Sredstva za zaposlene Zaznamki Produktivnost dela Stroški dela na enoto proizvoda
Sources: Eurostat, national data and ECB calculations.Note: Data on compensation per employee, labour productivity and unit labour costs refer to the euro area including Cyprus and Malta.
Viri: Eurostat, nacionalni podatki in izra čuni ECB.
Average profi tmark-up growth in the first three quarters of 2007 was 0.6%, whereas it had been 0.8% in 2006.
Graf 29 Kvalitativne ocene o zaznani inflaciji in inflacijskih pričakovanjih potrošnikov
Chart 28 Residential property price developments in the euro area
Graf 28 Gibanja cen stanovanjskih nepremičnin v euroobmočju
(annual percentage changes; annual data)
(medletne spremembe v odstotkih; letni podatki)
(percentage balance; seasonally adjusted) inflation expectations inflation perceptions
(ravnotežja v odstotkih; desezonirano) inflacijska pričakovanjazaznana inflacija
Jan. 2002: euro cash changeover
8 januar 2002 prehodna eurogotovino
Source: European Commission Business and Consumer Surveys.Note: Data refer to the euro area including Cyprus and Malta.
Vir: Izračuni ECB na podlagi neharmoniziranih nacionalnih podat-kov.Opomba: Podatki za leto 2007 se nanašajo na prvo polovico leta.
Source: ECB calculations, based on non-harmonised national data.Note: Data for 2007 refer to the first half of the year.
Leta 2007 je rast realnega BDP v euroobmočju v povprečju znašala 2,6%, kar je
Chart 30 Contributions to quarterly real GDP growth
Graf 30 Prispevki k četrtletni rasti realnega BDP
2007 following the rise in actual inflation, reaching levels last seen in the wake of the euro cash
(četrtletni prispevki v odstotnih točkah; desezonirano)
(quarterly percentage point contributions; seasonally adjusted) changeover in January 2002 (see Chart 29).6 In contrast to 2002, consumers’ inflation expectations real GDP 1)final domestic demand 2) net exports
2) zaupanje potrošnikovzaupanje v industrijizaupanje v storitvenih dejavnostih končno domače povpraševanjeneto izvoz
In addition, weakening conditions in the housing markets of several euro area countries contributed to a moderation in economic activity.
Vira: Eurostat in izračuni ECB.Opomba: Podatki se nanašajo na euroobmočje vključno s Ciprom in Malto.1) Odstotna sprememba glede na prejšnje četrtletje.2) Opredeljeno kot domače povpraševanja brez sprememb zalog.
The slower GDP growth in 2007 was mainly due to developments in private consumption and residential investment.
Počasnejša rast BDP v letu 2007 je bila predvsem posledica gibanja zasebne potrošnje in stanovanjskih naložb.
The contribution of net exports to GDP growth was 0.4 percentage point, twice the contribution in 2006 (see Table 3).
Neto izvoz je k rasti BDP prispeval 0,4 odstotne točke, kar je dvakrat več kot v letu 2006 (glej tabelo 3).
Despite the growing uncertainty during the second half of the year, the euro area economy performed well in 2007, as reflected in the sizeable and steady decline in the unemployment rate.
Kljub vse večji negotovosti v drugi polovici leta je bilo gospodarstvo euroobmočja leta 2007 uspešno, kar se je izražalo v velikem in vztrajnem upadanju stopnje brezposelnosti.
The euro area unemployment rate fell to 7.1% in December, which constitutes the lowest level observed in the past 25 years.
Stopnja brezposelnosti v euroobmočju se je decembra znižala na 7,1%, kar je najnižja raven v zadnjih 25 letih.
This positive trend reflects the strength of the fundamentals
Pozitivni trend je odraz trdnih temeljev gospodarstva euroobmočja ter zlasti dobičkonosnosti podjetij in povečanega ustvarjanja delovnih mest.
For more information, see the box entitled “Recent developments in consumers’ inflation perceptions and expectations in the euro area” in the November 2007 issue of the ECB’s Monthly Bulletin.
Infl a-cijska gibanja in pozneje finančni pretresi, ki so se začeli avgusta in so bili tesno povezani s krizo na trgu drugorazrednih hipotek v ZDA, so prispevali k poslabšanju pričakovanj potrošnikov in podjetij v drugi polovici leta 2007. Poleg tega je slabšanje razmer na stanovanjskem trgu
Among the factors underlying this slower growth – besides the one-off impact on consumption of a VAT increase in Germany – of particular significance was the negative impact of higher food and energy prices on the real disposable income of households and on consumer and business confidence.
Zasebna potrošnja se je leta 2007 povečala za 1,4%, kar je manj kot leta 2006 (1,8%). Na gibanje potrošnje v letu 2007 je močno vplivalo povečanje DDV v Nemčiji januarja 2007, kar je povzročilo, da so potrošniki nakupe opravili prej (zlasti dražjih izdelkov, kot je trajno potrošno blago) in se tako izognili povišanju davka.
These inflation developments and, subsequently,
Zato se je medletna stopnja rasti zasebne potrošnje v
(percentage changes, unless otherwise indicated; seasonally adjusted)
(spremembe v odstotkih, razen če ni navedeno druga če; desezonirano)
Quarterly rates 2)
Četrtletne stopnje rasti 2)
Real gross domestic productof which:
Realni bruto domaod tega:
Sources: Eurostat and ECB calculations.Notes: The figures reported are seasonally and partly working day-adjusted, as not all euro area countries report quarterly national account series adjusted for the number of working days.
Vira: Eurostat in izračuni ECB.Opomba: Podatki v tabeli so desezonirani in deloma prilagojeni glede na število delovnih dni, saj vse države euroobmočja ne poročajo serij četrtletnih nacionalnih računov, ki so prilagojene glede na število delovnih dni.
Data refer to the euro area including Cyprus and Malta.1) Percentage change compared with the same period a year earlier.2) Percentage change compared with the previous quarter.3) As a contribution to real GDP growth; in percentage points.4) Including acquisitions less disposals of valuables.5) Exports and imports cover goods and services and include internal crossborder trade in the euro area.
Podatki se nanašajo na euroobmočje vključno s Ciprom in Malto.1) Odstotna sprememba glede na enako obdobje prejšnjega leta.2) Odstotna sprememba glede na prejšnje četrtletje.3) Kot prispevek k rasti realnega BDP; v odstotnih točkah.4) Vključno s postavko pridobitve manj odtujitve vrednostnih predmetov.5) Izvoz in uvoz zajemata blago in storitve ter vključujeta čezmejno trgovino znotraj euroobmočja.
Since intra-euro area trade is not cancelled out in import and export figures used in national accounts, these data are not fully comparable with balance of payments data.6) Includes trade and repairs, hotels and restaurants, transport and communication, financial intermediation, real estate, renting and business activities.
Ker trgovina znotraj euroobmočja ni izključena iz podatkov za izvoz in uvoz v nacionalnih računih, ti podatki niso popolnoma primerljivi s podatki plačilne bilance.6) Vključuje trgovino in popravila, gostinstvo, promet in zveze, finančno posredništvo, poslovanje z nepremičninami, najem in poslovne storitve.
of the euro area economy and, in particular, the profitability of firms and robust job creation.
pri stanovanjskih naložbah, kar je zaznamovalo konec ekspanzivne faze poslovnega cikla v gradbeništvu v okolju upočasnjevanja rasti cen stanovanj.
external environment and the rise in inflation (see Chart 31).
Upočasnitev rasti stanovanjskih naložb je bila izrazitejša v nekaterih državah, ki so v prejšnjih letih dosegale zelo hitro rast.
However, the financial turmoil is considered to have had only a limited direct impact on consumption, although consumer credit standards were tightened in the last few months of the year, in contrast to the net easing of credit standards observed in previous quarters.
Rezultati ankete Eurosistema o bančnih posojilih kažejo, da se je v zadnjem četrtletju leta 2007 neto povpraševanje gospodinjstev po stanovanjskih posojilih močno zmanjšalo zaradi manj ugodnih ocen glede prihodnjih možnosti na stanovanjskem trgu in poslabšanja zaupanja potrošnikov.
Private consumption grew by 1.4% in 2007, down from 1.8% in 2006.
euroobmočju v prvem četrtletju leta 2007 močno zmanjšala, in sicer na 1,4% v primerjavi z 2,1% v zadnjem četrtletju leta 2006.
The consumption growth path in 2007 was strongly influenced by a VAT increase in Germany in January 2007. This led to purchases being made earlier, particularly purchases of expensive items such as durable consumer goods, in order to avoid the tax increase.
Potrošnja gospodinjstev se je v poznejših mesecih povečala, skladno z izboljšanjem realnega razpoložljivega dohodka gospodinjstev, k čemur so prispevala predvsem pozitivna gibanja zaposlenosti in delno tudi rast realnega premoženja gospodinjstev.
As a result, the annual growth rate of euro area private consumption declined sharply to 1.4% in the first quarter of 2007, from 2.1% in the fourth quarter of 2006.
V drugi polovici leta je prišlo do postopnega slabšanja zaupanja potrošnikov, kar je bilo povezano s pretresi na fi nančnih trgih, zaskrbljenostjo glede zunanjega okolja in povišanjem infl acije (glej graf 31).
Household consumption rebounded in subsequent months, in line with improvements in real household disposable income which were mainly driven by the positive developments in employment and, to a lesser extent, by growth in household real wealth.
Finančni pretresi pa naj bi imeli le omejen neposredni vpliv na potrošnjo, čeprav so se kreditni standardi za potrošniška posojila v zadnjih nekaj mesecih leta zaostrili v nasprotju s predhodnimi četrtletji, ko je prihajalo do njihove neto sprostitve.
Having rebounded strongly in 2006, total investment growth was robust in 2007, at 4.4% for the year as a whole.
Po močnem povečanju v letu 2006 je bila skupna rast naložb v letu 2007 okrepljena in je znašala 4,4%.
However, the pace of growth gradually moderated in the course of the year.
Vendar pa se je tempo rasti med letom postopoma umirjal, najizraziteje
The deceleration was most pronounced in residential investment, marking the end of the expansionary phase of the business cycle in the construction sector in the context of a slowdown in house price growth.
Leta 2007 se je obseg izvoza v države zunaj euroobmočja zaradi močne rasti zunanjega povpraševanja močno povečal (za 5,9%) kljub hitri apreciaciji eura med letom in močni konkurenci iz Kitajske in drugih azijskih držav.
The deceleration in housing investment was more marked in certain countries which had experienced very fast growth in previous years.
Prav tako je močno narasel uvoz iz držav zunaj euroobmočja, ki so ga spodbujale okrepljene podjetniške naložbe, izvoz in apreciacija eura.
Chart 31 Confidence indicators fourth quarter of 2007, reflecting less favourable assessments of housing market prospects and the deterioration in consumer confidence. dence.
Graf 32 Brezposelnost tujino pozitivno prispevala k rasti BDP v višini 0,4 odstotne točke.
(percentage balances; seasonally adjusted) consumer confidenceindustrial confidenceservices confidence
(mesečni podatki; desezonirano)
Source: European Commission Business and Consumer Surveys.Notes: Data shown are calculated as deviations from the average over the period since January 1985 for consumer and industrial confidence, and since April 1995 for services confidence.
Vir: Eurostat.Opomba: Podatki se nanašajo na euroobmoin Malto.1) Letne spremembe niso desezonirane.
Data refer to the euro area including Cyprus and Malta.
Več podrobnosti je v okvirju 8, Meseseptember 2007.
From a sectoral perspective, economic activity in 2007 was mainly supported by the sustained performance of services, with the annual growth rate of this sector decreasing slightly from 2.5% in 2006 to 2.4% in 2007.
RAZMERE NA TRGU DELA SE ŠE NAPREJ IZBOLJ-ŠUJEJORazmere na trgu dela v euroobmočju so se v zadnjih letih vidno izboljšale.
Value added growth in the euro area construction sector declined sharply in 2007, particularly in the second half of the year.
Poleg tega je bilo ustvarjanje delovnih mest enakomerneje porazdeljeno po starosti, spolu in izobrazbeni strukturi.7Močna rast zaposlenosti se je nadaljevala tudi v letu 2007, ko je naraščala po letni stopnji 1,7%, kar je največ po letu 2001 (glej tabelo 4).
As mentioned above, this
Kljub temu je rast
Table 4 Labour market developments
Tabela 4 Gibanja na trgu dela
(percentage changes compared with the previous period; percentages)
(spremembe v odstotkih glede na prejšnje obdobje; odstotki)
The average monthly decline in the number of unemployed persons during 2007 stood at around 80,000.
Stopnje brezposelnosti 4) Skupaj Pod 25 let25 let in več
Labour productivity growth for the economy as a whole, as measured by real GDP divided by total employment, increased by just 0.8% in 2007, down from 1.3% in 2006 when labour productivity peaked in the fourth quarter at an annual growth rate of 1.6%.
Vira: Eurostat in izračuni ECB. Opomba: Podatki se nanašajo na euroobmočje vključno s Ciprom in Malto.
The acceleration in labour productivity seen in 2006, which was mainly associated with the cyclical upswing of the euro area economy, proved to be shortlived and the annual growth rate fell to 0.6% in the fourth quarter of 2007.
1) Vključuje tudi ribištvo, lovstvo in gozdarstvo.2) Vključuje predelovalne dejavnosti, gradbeništvo, rudarstvo ter oskrbo z elektriko, plinom in vodo.3) Ne vključuje eksteritorialnih organov in organizacij. 4) Odstotek delovne sile po priporočilih ILO.
For further details, see Box 8 in the September 2007 issue of the ECB’s Monthly Bulletin.
Leta 2007 se je število brezposelnih vsak mesec v povprečju zmanjšalo za okrog 80.000.
THE DECLINE IN UNEMPLOYMENT IN THE EURO AREA IN RECENT YEARS
ZMANJŠANJE BREZPOSELNOSTI V EUROOBMOČJU V ZADNJIH NEKAJ LETIH
For the last nine years employment growth in the euro area has expanded by a 1.3% annual average growth rate.
Graf A Stopnja brezposelnosti v euroobmočju in rast BDP
Two periods can be identified regarding unemployment developments in recent years (see Chart A).
(odstotki; medletne odstotne spremembe) stopnja brezposelnosti (lestvica na levi strani)rast realnega BDP (medletno; lestvica na desni strani)
At the sectoral level, the services sector was responsible for around 85% of the increase in employment, while the remainder was created in the construction sector.
To zmanjšanje ni samo odraz gospodarske konjunkture, temveč kaže tudi učinek nadaljevanja zmernega gibanja plač in reform na trgu dela v euroobmočju.
Source: Eurostat.Note: Unemployment as a percentage of the labour force.
Skupno je mogoče približno tretjino celotnega zmanjšanja brezposelnosti pripisati tej skupini.
All relevant groups have recorded unemployment rate declines since 2003, and particularly some categories which have been
Stopnja brezposelnosti žensk se je od junija 2003 do decembra 2007 znižala za 1,9 odstotne to čke
Unemployment rates in the euro area by gender, age group and skills
Stopnje brezposelnosti v euroobmočju po spolu, starosti in izobrazbeni strukturi
(percentages; percentage points)
(odstotki; odstotne točke) sprememba 2003-07 starost
All Men Women Younger Older Skills below secondary education at least secondary education tertiary education Longterm unemployment rate above 15
Vsi Moški Ženske Mlajši Starejši Raven izobrazbemanj kot srednješolska izobrazbanajmanj srednješolska izobrazbaterciarna izobrazbastopnja dolgotrajne brezposelnosti nad 15
Source: Eurostat.Note: Data for 2003, 2005 and 2007 refer to June, March and December respectively and are derived from the harmonised unemployment rate for all categories, except older workers, the skills breakdown and longterm unemployment, for which the data refer to March in all cases and are derived from the EU Labour Force Survey data.
Vir: Eurostat.Opomba: Podatki za leto 2003, 2005 in 2007 se nanašajo na junij, marec oziroma december in so pri vseh skupinah izpeljani iz haniziranih podatkov o stopnji brezposelnosti, razen pri starejših, izobrazbeni strukturi in dolgotrajno brezposelnih, kjer se poprimerih nanašajo na marec in so izpeljani iz ankete o delovni sili EU.
Overall, around a third of the total decrease in unemployment is attributable to this group.
in dosegla 8,0%, kar je nedvomno izrazitejši padec kot pri moških.
The female unemployment rate fell by 1.9 percentage points, to 8.0%, between June 2003 and December 2007, clearly a more pronounced decline than that recorded for male workers.
Obema skupinama, mladim in ženskam, sta še naprej koristili sprostitev predpisov, ki se uporabljajo za pogodbe o zaposlitvi za določen čas, ter uvedba ukrepov za spodbujanje zaposlovanja s krajšim delovnim časom, ki so povečali njihovo zaposljivost.
Both groups, youths and women, have continued to benefit from the easing of regulations applicable to fixed-term contracts and the introduction of measures aimed at promoting part-time employment, which have increased these groups’ employability.
Na obe skupini je pozitivno vplivalo tudi strukturno povečanje zaposlenosti v storitvenem sektorju.
They have also benefited from the structural rise in employment in the services sector.
Manj pozitivno pa je videti, da se delež dolgotrajno brezposelnih v skupnem številu brezposelnih med letoma 2003 in 2007 v glavnem ni spreminjal in je bil z nekaj ve č kot 4
However, the ratio of those unemployed for more than a year to total unemployment has decreased by 1.0 percentage point since 2005. This indicates that persons in that group are benefiting from the economic recovery with some lag.
Vendar pa se je delež brezposelnih, ki so brez dela vekot leto, v skupni brezposelnosti od leta 2005 zmanjšal za eno odstotno točko, kar kaže, da gospodarsko okrevanje na osebe v tej skupini vpliva z določenim odlogom.
As reflected in the trend decline, longterm unemployment is also benefiting from labour market reforms aimed in particular at improving the employability of the most vulnerable groups and at increasing work incentives.
Kot kaže trendno zmanjšanje, na dolgotrajno brezposelnost pozitivno vplivajo tudi reforme na trgu dela, usmerjene zlasti v izboljšanje zaposljivosti najobčutljivejših skupin in povečanje spodbud za delo.
Additional reforms and continuing wage moderation are necessary to encourage a further decline in unemployment
Za spodbujanje nadaljnjega zmanjševanja brezposelnosti so potrebne dodatne reforme in nadaljevanje zmernega gibanja plač
Overall, the decline in unemployment since mid-2003 has been significant.
V celoti gledano je bilo zmanjšanje brezposelnosti od sredine leta 2003 precejšnje.
A sustainable continuation of this decline in the coming years will necessitate, in addition to wage moderation, ongoing reforms in euro area labour and product markets.
Za trajno nadaljevanje tega trenda v prihodnjih letih bodo poleg zmernega gibanja plač potrebne tudi stalne reforme na trgu dela in trgu proizvodov v euroobmočju.
Chart B Reform intensity in the euro area 1)and distribution by type of reform, 2000-06
Graf B Intenzivnost reform v euroobmočju1)in porazdelitev po vrstah reform, 2000–06
(number of reforms enacted) working timewage bargaininglabour taxation, pension systems, unemploymentand welfare-related benefitsjob protectionimmigration and labour mobilityactive labour market programmes overall number of policy changes in euro area labour markets amounted to about 98 measures enacted between 2000 and 2006.
(število uzakonjenih reform) delovni časpogajanje o plačahobdavčitev dela, pokojninski sistemi, nadomestila za brezposelnost in drugi socialni prejemkivarnost zaposlitvepriseljevanje in mobilnost delaprogrami aktivne politike zaposlovanja
Source: ECB computation based on the LABREF database.1) Includes Slovenia.
Vir: Izračun ECB na podlagi podatkovne zbirke LABREF.1) Vključuje Slovenijo.
Although several euro area countries have made progress in adopting and implementing structural reforms, further effort is needed in a number of policy areas.
Čeprav je več držav euroobmočja doseglo napredek pri sprejemanju in izvajanju strukturnih reform, so na številnih področjih politike potrebna nadaljnja prizadevanja.
Reforms should increase employment opportunities for young people and women in particular. It is therefore essential for each euro area country to remove market distortions and to rigorously implement the national reform programmes that are at the heart of the Lisbon process.
Reforme naj bi povečale zaposlitvene možnosti zlasti mladih in žensk, zato je za vsako državo euroobmočja bistveno, da odpravi izkrivljanje trga in dosledno izvaja napovedane ukrepe iz nacionalnih programov reform, ki so v središču lizbonskega procesa.
Progress in terms of changing employment protection legislation and providing incentives to work via tax and benefit systems has been rather limited.
Napredek pri spreminjanju zakonodaje na področju varnosti zaposlitve in pri določanju spodbud za delo prek davčnih sistemov in sistemov socialnih prejemkov je bil dokaj omejen.
No country participating in the euro area had a deficit of more than 3% of GDP in 2007, a situation that was last witnessed in 2000 (proceeds from the sale of UMTS licences excluded).
Znotraj navedenih širših področij je obravnavanih skupno 36 področij, v katera posegajo reforme.
According to the euro area countries’ updated stability programmes, the average general government deficit in the euro area declined from 1.5% of GDP in 2006 to 0.8% in 2007 (see Table 5).8 Deficits in Italy and Portugal, the two countries in the euro area that are subject to an excessive deficit procedure, fell to 2.4% and 3% of GDP respectively.
Poleg tega so za povečanje produktivnosti in zaposlitvenih možnosti potrebna okrepljena prizadevanja za vzpostavitev in poglobitev notranjega trga EU za blago in storitve ter krepitev raziskovalno-razvojne dejavnosti in inovacij.
In the case of Italy, according to more recent estimates, the deficit fell to 1.9% of GDP. In the case of Belgium, according to
Prav tako so zaželene reforme sistemov pogajanja o plačah, namenjene odpravljanju togosti, saj so pomembne pri zmanjševanju razlik v stopnji brezposelnosti med različnimi skupinami prebivalstva.
Table 5 Fiscal positions in the euro area
Tabela 5 Fiskalni položaj v euroobmočju
(as a percentage of GDP)
(odstotek BDP)
General government surplus (+) / deficit (-)
Presežek (+)/primanjkljaj (–) širše opredeljene države
Euro area Belgium Germany Ireland Greece Spain France Italy Luxembourg Netherlands Austria Portugal Slovenia Finland
Euroobmočje Belgija Nemčija Irska Grčija Španija Francija Italija Luksemburg Nizozemska Avstrija Portugalska Slovenija Finska
Sources: European Commission (for 2005-06; for Belgium also 2007), updated stability programmes (for 2007) and ECB calculations.Note: The 2007 figures in the stability programmes are based on estimates and hence could differ from final outcomes.
Viri: Evropska komisija (za obdobje 2005–06, za Belgijo tudi 2007), dopolnjeni programi stabilnosti (za 2007) in iz ra Opomba: Podatki za leto 2007 v programih stabilnosti temeljijo na ocenah, zato se lahko razlikujejo od kon čnih rezultatov.
Moreover, in six countries debt ratios remained above the 60% of GDP reference value.
8Primanjkljaj v Italiji in na Portugalskem, dveh državah euroobmočja, ki sta v postopku v zvezi s čezmernim primanjklja- jem, se je zmanjšal na 2,