EUR News

The Italian economy contracted at a slower rate, as expected by economists, in the third quarter, preliminary estimate from the statistical office Istat showed Friday.

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Germany's unemployment rate dropped in October from the previous month, figures from the Federal Statistical Office or Destatis showed Thursday.

The adjusted jobless rate, based on ILO norms, eased to 4.9 percent from 5 percent in September. A year ago, the rate was 5.1 percent.

The number of unemployed dropped 1 percent monthly to 2.06 million. Compared to the same month last year, the figure declined by 3.7 percent.

The employment total edged up 0.1 percent monthly to 39.78 million in October. The figure grew 0.7 percent year-on-year.

On an unadjusted basis, the jobless rate eased to 4.7 percent from 4.8 percent in the previous month. There were 1.98 million unemployed in October, down 2 percent from September and 5.7 percent from a year ago.


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Germany's EU measure of inflation slowed to its lowest level in five years in November, preliminary data from the Federal Statistical Office showed Thursday.

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German unemployment reached the lowest in more than two decades in November, boosting confidence among businesses and households. The seasonally adjusted jobless rate for November was 6.6 percent, unchanged from October's figure that was downwardly revised, data from the Federal Labor Agency showed Thursday.

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Eurozone economic sentiment unexpectedly strengthened for a second consecutive month in November as an improvement in the factory confidence offset a deterioration in consumer morale, figures from the European Commission showed Thursday. The economic sentiment indicator rose to 100.8 from 100.7 in October. Economists had expected the index to ease to 100.3.

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German retail sales grew at the fastest pace in more than three years in October, as consumer confidence strengthens amid favorable labor market conditions and low inflation. Retail sales rose a calendar-and-seasonally adjusted 1.9 percent month-over-month, preliminary figures from Destatis showed Friday.

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Eurozone producer prices dropped at the fastest pace in 18 months during October, after rising in the previous month, preliminary figures from Eurostat showed Tuesday.

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France's ILO unemployment rate rose more-than-expected in the third quarter after holding steady in the previous two quarters to a 2013-peak, provisional figures from INSEE showed Thursday.

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The European Central Bank maintained status quo in the final rate-setting session of the year as policymakers chose to take more time to judge the impact of its previous stimulus measures despite recent weak economic data raising the pressure on the bank for more action. The Governing Council, led by President Mario Draghi, held the refinancing rate at a record low 0.05 percent on Thursday.

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European Central Bank President Mario Draghi said on Thursday that policymakers will reassess the impact of the stimulus measures already taken early next year and reiterated that the bank stands ready to take further action if required to avert deflation. Draghi also said that ECB staff and other Eurosystem committees concerned have stepped up the technical preparations for further measures.

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