Inflation in the 20-nation euro zone rose to 2% in October, preliminary figures released by statistics agency Eurostat showed Thursday.
Inflation in the 20-nation euro zone rose to 2% in October, preliminary figures released by statistics agency Eurostat showed Thursday.
The euro zone economy grew 0.4% in the third quarter, flash figures published by the European Union’s statistics agency showed Wednesday.
Bloc ‘stuck in a rut’ as growing services sector cannot offset continued weakness in manufacturing
Investor morale in the euro zone unexpectedly rose in October after three consecutive months of decline, boosted by rising expectations even as dissatisfaction with the current situation hit a new low this year, a survey showed on Monday.
The year-on-year eurozone inflation rate for September was released on Tuesday, coming in at 1.8%, according to Eurostat. This was a step down from August’s 2.2%, while also being lower than analyst expectations of 1.9%. It was also the lowest figure since April 2021, successfully bringing inflation down to below the European Central Bank’s 2% target.
As the Olympic flame was extinguished, so was eurozone optimism. The August uptick in the PMI was met by a sharp decline in September. The PMI now stands at 48.9, which indicates contraction according to the survey. This further fuels growth concerns in the bloc as inflation worries fade
Euro zone manufacturing activity remained mired in contraction in August, a survey showed on Monday, with the data suggesting a recovery could be some way off as demand fell at its sharpest pace this year.
Eurozone inflation fell sharply to a three-year low of 2.2 per cent in August, bolstering expectations that the European Central Bank will reduce interest rates next month.
The composite PMI increased from 50.2 to 51.2 from July to August, mainly due to a jump in French services activity. The underlying data still looks weak enough for the ECB to seriously consider another rate cut in September
Headline inflation in the euro zone unexpectedly rose to 2.6% in July, the European Union’s statistics agency said Wednesday, even as price growth in the services sector eased slightly.
The euro zone’s economy grew by more than expected in the second quarter of 2024, flash figures from the European Union’s statistics office showed Tuesday.
China announced on Friday the next step in its anti-dumping investigation into European brandy imports, ramping up tension on the same day the European Commission’s provisional tariffs on Chinese-made electric vehicles take effect.
The European Union will impose tariffs of up to 37.6% from Friday on imports of electric vehicles made in China, EU officials said, ratcheting up tensions with Beijing in Brussels’ largest trade case yet.
Both the services and composite readings are three-month lows, reaffirming a slowdown in the economy towards the end of Q2. Of note, demand for euro area goods and services decreased for first time since February.
Eurozone inflation slowed to 2.5 per cent in June, but policymakers will remain concerned by strong increases in services prices that partly offset weaker growth in energy and fresh food costs.
Beijing wants the EU to scrap plans to impose preliminary tariffs on Chinese electric vehicle imports by July 4, China’s state-controlled Global Times reported, after both sides agreed to negotiate a possible compromise.
The rebound in euro-area private-sector business activity unexpectedly lost momentum as France’s snap election weighed on firms and manufacturing in the region recorded its worst month of the year.
No changes to the initial estimates as euro area inflation remains stickier in May.
China has opened an anti-dumping investigation into imported pork and its by-products from the European Union, a step that appears mainly aimed at Spain, the Netherlands and Denmark, in response to curbs on its electric vehicle exports.
Shares of European carmakers fell on Wednesday following a report that some of the world’s largest auto manufacturers face possible lawsuits in Britain for allegedly cheating emissions tests.