What crisis? Eurozone growth revised up to 0.4 per cent in second quarter September 8, 2015 Things didn't get quite as bad during the Greek crisis as everyone thought, it turns out, after Eurozone growth for the second quarter was revised upwards. Official statistics published this morning showed the bloc grew 0.4 per cent between April and June, up from the 0.3 per cent originally thought. At the time of the [...]
Blame lack of reform for Eurozone unemployment remaining so high September 3, 2015 We received good news on European unemployment this week. The total number unemployed in the Eurozone and across the EU has continued to fall. The Eurozone unemployment rate has dropped below 11 per cent for the first time since early 2012. And the overall EU jobless rate is down to 9.5 per cent, its [...]
Retail sales: Eurozone recovery looks set to last this time, but France lags behind September 3, 2015 The Eurozone looks set to finally break free from the doldrums of persistant stagnation with survey figures pointing to the strongest economic growth in the currency-bloc for four years. Markit’s composite purchasing managers’ index – which gauges business activity across all sectors of the economy – edged up to 54.3 in August, further in excess [...]
Eurozone unemployment drops to three-year low September 1, 2015 Eurozone unemployment has fallen to a three-year low, surprising economists by dropping as low as 10.9 per cent in July. Unemployment figures were forecast to remain static at 11.1 per cent, but Eurozone recovery has given job growth a bigger push than expected, according to new figures released by statistics agency Eurostat today. Some 213,000 [...]
Europe’s hidden political crisis: Internal Eurozone disagreements over Greece could have deep-seated implications – CNBC Comment August 31, 2015 The Eurozone economy may be showing signs of strength this year, thanks in part to the European Central Bank’s (ECB) massive bond-buying programme but, politically, Europe is struggling. And we can thank Greece for that. ECONOMIC BOOST The forecast for GDP growth for Europe is much stronger this year than it was in 2014 [...]
Eurozone inflation holds steady at 0.2 per cent in August August 31, 2015 The Eurozone’s annual inflation rate held steady at 0.2 per cent in August, show figures released by statistics agency Eurostat today. Although unchanged month-on-month, inflation in the 19-country euro area remains low, and is down from 0.4 per cent a year ago. The biggest downward pressure comes from the energy sector, where prices have slumped [...]
Construction drop casts more doubt on Eurozone growth August 19, 2015 The Eurozone's construction sector stumbled in June, with output down 1.9 per cent compared with May. On the year, construction was down 2.4 per cent, according to the figures released this morning by Eurostat. The sharpest monthly fall in the 19-member currency-bloc was in Germany at 4.5 per cent, which was followed by France. Greece [...]
UK tech sector growth falls to two-year low, dragged by election jitters and Eurozone woes August 18, 2015 The UK’s tech sector growth fell to a two-year low, with activity slowing in the second quarter dragged by election jitters and Eurozone woes. Tech has been booming lately, and the latest figures mark three years of sustained business activity growth in the sector. But expansion is at its weakest pace since early 2013, according [...]
Eurozone trade surplus hits six-month high amid weak euro August 17, 2015 The Eurozone's trade surplus soared to a six-month high in June, as growth in exports outpaced imports. The euro area's official statistics agency said it hit €26.4bn (£18.7bn) during the month, up from €16bn a year earlier. Exports from the single currency area to the rest of the world rose 12 per cent to €182.7bn in the [...]
Greek crisis: Eurozone ministers agree to third bailout August 15, 2015 Eurozone finance ministers last night agreed to a third bailout deal for Greece, helping the cash-strapped country avoid bankruptcy and almost certain exit from the single currency bloc. "New loans of up to €86bn (£61bn) will be made available over the next three years to Greece," the European Commission said in a statement made after [...]