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European Economic News


Euro Zone Jobless Rate Hits Highs Unseen Since 2005
European Economy |  Written by CEP News |  Apr 30 09 12:52 GMT | 
(CEP News) Frankfurt - The labour market in the euro zone deteriorated faster than expected in March, with the jobless reaching highs not seen since 2005, according to Eurostat.
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Euro Zone Inflation Stabilizes at Record Low in April
European Economy |  Written by CEP News |  Apr 30 09 12:35 GMT | 
(CEP News) Frankfurt - The euro zone inflation rate remained unchanged at a record low 0.6% in the 12 months to April, according to preliminary estimates out of Eurostat.
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French Producer Prices Maintain Downward Trend in March
European Economy |  Written by CEP News |  Apr 30 09 12:24 GMT | 
(CEP News) Frankfurt - French producer prices continued to weaken in March, according to the National Institute for Statistics and Economic Studies (INSEE).
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UK House Prices Fall Less than Expected in April, Nationwide Says
European Economy |  Written by CEP News |  Apr 30 09 12:12 GMT | 
(CEP News) Frankfurt - UK houses prices fell by less than expected in April, returning only some of the gain registered in the period month, the Nationwide Building Society reported on Thursday.
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German Labour Market Continues to Deteriorate in April
European Economy |  Written by CEP News |  Apr 30 09 11:41 GMT | 
(CEP News) Frankfurt - The German labour market continued to deteriorate in April as the economy looks to contract at a record pace this year.
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Japan's Economy to Contract 3.1% in 2009 Fiscal Year, BOJ Says
European Economy |  Written by CEP News |  Apr 30 09 07:28 GMT | 
(CEP News) - The Bank of Japan has revised down its economic growth forecasts for the 2009 fiscal year and projects corporate profits and household consumption to weaken further in the coming quarters.
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UK Consumer Confidence Up for the Third Straight Month
European Economy |  Written by CEP News |  Apr 29 09 23:16 GMT | 
(CEP News) - Confidence among UK consumers rose for the third straight month in April, according to the latest consumer survey report from the GFK Group.
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The Day Ahead Europe: Euro Zone CPI Estimate, German Jobless Rate
European Economy |  Written by CEP News |  Apr 29 09 21:27 GMT | 
(CEP News) - Economists expect a brief uptick in euro zone inflation in April before price growth resumes its trend downward, while the German labour market likely deteriorated further in the month.
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ECB's Stark Says Alternative Policy Will Only Be Used When Rates Reach Floor
European Economy |  Written by CEP News |  Apr 29 09 16:50 GMT | 
(CEP News) - The European Central Bank (ECB) will use alternative monetary policy once rates reach the so called "floor," according to ECB Governing Council Member Jurgen Stark speaking in Siegen, Germany on Wednesday.
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ECB's Weber Says German Economy Won't Recover Before 2010
European Economy |  Written by CEP News |  Apr 29 09 14:13 GMT | 
(CEP News) - European Central Bank council member Axel Weber said Wednesday that he does not take too much stock from the so-called "green shoots" in economic indicators, and that the German economy will severely contract in 2009.
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Sterling Mixed Following Quiet Session In Terms of Events
European Economy |  Written by CEP News |  Apr 29 09 12:01 GMT | 
(CEP News) - The pound sterling is mixed on Wednesday in the aftermath of a light trading session in the UK, with the swine flu remaining the focus for FX traders.
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ECB's Tumpel-Gugerell Says No Deflation Risks Seen in Euro Zone
European Economy |  Written by CEP News |  Apr 29 09 11:31 GMT | 
(CEP News) Frankfurt - European Central Bank Executive Board member Gertrude Tumpel-Gugerell said the ECB does not see deflation risks in the euro zone and that inflation expectations "are still in line" with its inflation target of "close to, but below 2%".
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Spanish Economy Contracts in Q1 at Sharpest Pace Since 1970
European Economy |  Written by CEP News |  Apr 29 09 10:49 GMT | 
(CEP News) Frankfurt - The Spanish recession deepened in the first quarter, with overall economic growth contracting at a pace unseen in nearly 40 years, the Bank of Spain reported.
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German Economy to Shrink 6% in 2009, Grow 0.5% in 2010, Says Government
European Economy |  Written by CEP News |  Apr 29 09 10:21 GMT | 
(CEP News) Frankfurt - The German Economics Ministry has revised its growth forecasts and now expects the economy to contract by 6% in 2009, its sharpest fall since reunification.
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Euro Zone Business Climate, Economic Confidence Rebound in April
European Economy |  Written by CEP News |  Apr 29 09 09:22 GMT | 
(CEP News) Frankfurt - Euro zone economic and business sentiment improved by more than expected after reaching record lows, the EU Commission reported on Wednesday.
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ECB's Mersch Expects Recovery in 2010, Says "Little Margin" for Further Cuts
European Economy |  Written by CEP News |  Apr 29 09 08:50 GMT | 
(CEP News) Frankfurt - European Central Bank Governing Council member Yves Mersch said that projections of a gradual recovery by next year are still valid and that he sees "little margin" for further rate cuts.
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ECB's Mersch Expects Recovery in 2010, Sees "A Little Margin" for Further Cuts
European Economy |  Written by CEP News |  Apr 29 09 08:50 GMT | 
(CEP News) Frankfurt - European Central Bank Governing Council member Yves Mersch said that projections of a gradual recovery by next year are still valid and that he sees "a little margin" for further rate cuts.
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Euro Zone M3 Money Supply, Credit Growth Continue to Ease in March, Says ECB
European Economy |  Written by CEP News |  Apr 29 09 08:27 GMT | 
(CEP News) Frankfurt - Money and credit growth continue to fall in the euro zone, while banks reported a further pronounced tightening of credit standards in the first quarter of 2009, the European Central Bank reported on Wednesday.
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Euro Zone M3 Money Supply, Credit Growth Continue to Ease in March
European Economy |  Written by CEP News |  Apr 29 09 08:27 GMT | 
(CEP News) Frankfurt - Money and credit growth continued to fall in the euro zone, while banks reported a further pronounced tightening of credit standards in the first quarter of 2009, the European Central Bank reported on Wednesday.
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The Day Ahead Europe: Euro Zone Economic Confidence
European Economy |  Written by CEP News |  Apr 28 09 21:53 GMT | 
(CEP News) - Economists will be focusing on the upcoming European Commission (EC)'s economic sentiment survey for confirmation that the worst of the euro zone recession is over and that the rate of economic decline will slow in the second quarter.
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