Eurozone

  1. Eurozone inflation slows as oil prices fall

    Clothes on a sales rack

    Consumer prices in the eurozone grew more slowly in February as oil prices fell amid the spread of the coronavirus.

    The latest figures from Eurostat showed the annual rate of inflation in the eurozone fell to 1.2% last month, down from 1.4% in January.

    The slowdown was mainly due to a 0.3% year-on-year fall in energy prices.

    Eurostat figures also showed that the eurozone's unemployment rate remained unchanged at 7.4% in January.

  2. Eurozone growth lukewarm as France and Italy shrink

    Shipyard welder

    Eurozone GDP growth slowed to 0.1% quarter-on-quarter in the last three months of 2019, dragged down by France and Italy.

    The EU's statistics office, Eurostat, said growth for the period in the 19-country area was 0.9% year-on-year, a downward revision from the previously estimated 1% growth.

    The quarterly growth rate was down from the 0.3% expansion seen in the third quarter because of a 0.1% contraction in the second-biggest economy, France, and a 0.3% contraction in the third-biggest, Italy.

    As we told you earlier, German growth stagnated.

  3. EU growth numbers fail to climb

    truck through a chain linked fence

    Eurozone GDP numbers slowed in 2019.

    Uncertainty from Brexit negotiations and the Trump trade drama had a knock on effect on the 19-member single currency zone which grew 1.2% percent over the year.

    It is a sharp 1.8% drop from 2018 and a plunge from the 2.7% growth reported in 2017.

    Inflation numbers rose a percentage point to 1.4% in the fourth quarter of 2019.

  4. Eurozone manufacturing and services output 'stable'

    The latest PMI surveys for the Eurozone show that manufacturing and services output growth remained stable and at a modest pace in January, with IHS Markit's Eurozone Composite Flash Purchasing Managers' Index (PMI) remaining unchanged at 50.9.

    IHS Markit said that France and Germany's economies were both seeing a recovery with combined output growth at a five-month high, but in other countries growth of business activity slowing to near-stagnation.

    However business confidence across the single-currency area jumped to a 16-month high.

    “Overall, a stable picture for both growth and inflation will likely reassure the European Central Bank that they are safe to keep monetary policy fixed for now while carrying out a strategy review," said IHS Markit's associate director Andrew Harker.

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