EUR News

Eurozone business activity in September expanded at the slowest pace seen so far this year, adding pressure on the European Central Bank to provide more measures to stimulate the region. The composite output index of the purchasing managers' survey fell to a nine-month low of 52.3 in September from 52.5 in August, preliminary data from Markit Economics showed Tuesday.

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German consumer sentiment is set to deteriorate in October on continued tensions regarding the geopolitical situation, a survey by market research group GfK, based on responses from 2,000 households, revealed Friday. The forward-looking consumer confidence index dropped to 8.3 in October from 8.6 in September. It was forecast to drop marginally to 8.5. This was the second consecutive decline.

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Spain's government on Friday raised the growth forecasts for this year and next amid weaker prospects in the whole of euro area.

The Cabinet raised the growth projection for 2014 to 1.3 percent from 1.2 percent predicted in April, the economy ministry said in a statement. The outlook for 2015 was lifted to 2 percent from 1.8 percent.

While domestic demand was forecast to drive growth this year, net exports was projected to jointly contribute in 2015.

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The European Central Bank left its key interest rates unchanged at a record low, after reducing them in a surprise move last month, as economic momentum in the euro area remains subdued. The Governing Council, led by President Mario Draghi, held the refinancing rate at a record low 0.05 percent following its policy meeting in Naples, Italy on Thursday.

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Eurozone investor confidence declined for the third straight month to the lowest since May 2013, survey figures from the think-tank Sentix showed Monday.

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Germany's leading research institutes downgraded its economic growth estimates for 2014 and 2015.

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European Central Bank President Mario Draghi reaffirmed the bank's commitment to lift inflation from its "excessively" low level through additional monetary easing and cautioned that there would be no recovery without reforms. The governing council is "unanimous in its commitment to take additional unconventional measures to address the risks of a too prolonged period of low inflation."

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Germany's wholesale prices declined at a faster rate in September, data from Destatis showed Monday.

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Spain's harmonised index of consumer prices, or HICP, declined as initially estimated in September, final data from the statistical office INE showed Tuesday.

The HICP fell 0.3 percent annually in September, confirming the flash estimate. In August, the index had declined 0.5 percent.

Month-on-month, harmonized prices gained 1 percent as estimated in September.

Consumer prices fell 0.2 percent year-on-year, after decreasing 0.5 percent in August. This was the third consecutive decrease in prices and matched flash estimate.


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A measure of German investor sentiment declined for a tenth successive month in October to enter the negative territory for the first time in nearly two years, amid expectations that activity in the biggest euro area economy will ease further in coming weeks. Elsewhere, figures from Eurostat showed Tuesday that the decline in industrial production for August was worse-than-expected.

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