EUR News

Eurozone construction output decreased in June after rising in the previous month, figures from Eurostat showed Wednesday.

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German consumer sentiment is set to drop unexpectedly in September, as economic and income expectations floundered despite Greece reaching an agreement on a controversial debt deal. The forward-looking consumer sentiment index fell to 9.9 in September from 10.1 in August, survey data from market research group GfK showed Friday. Economists had forecast it to remain unchanged at 10.1.

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Business confidence and quarterly national accounts from Germany are the major reports due on Tuesday.

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German business confidence improved unexpectedly in August despite fears of a sharp slowdown in China taking its toll on stock markets, a closely watched survey revealed Tuesday. Elsewhere, official data today confirmed acceleration in economic growth in the second quarter on the back of strong exports.

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Eurozone economic confidence rose unexpectedly in August to the highest since June 2011, survey results from European Commission showed Thursday.

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Eurozone inflation remained unchanged at a very low level in August as further fall in oil prices curbed its ability to move upward. Inflation came in at 0.2 percent in August, the same rate as seen in July and June, preliminary data from Eurostat showed Monday. It was forecast to ease to 0.1 percent. Inflation remains below the European Central Bank's target of 'below, but close to, 2 percent.'

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The European Central Bank lowered the economic growth and inflation outlook for the euro area on Thursday, citing more downside risks that have emerged recently, and said that it was ready to extend its quantitative easing programme beyond the September 2016 deadline, if needed.

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The Bank for International Settlements has appointed Deutsche Bundesbank President Jens Weidmann as the new Chairman of its board of directors.

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Eurozone economy grew more than initially estimated in the second quarter as strong exports offset the decline in investment. Gross domestic product advanced 0.4 percent sequentially after rising 0.5 percent a quarter ago, Eurostat reported Tuesday. The first quarter growth was the fastest since the same quarter of 2011, when the economy expanded 0.9 percent.

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The European Central Bank needs more time to determine whether the downside risks to euro area growth call for an increase in asset purchases, the bank's President Mario Draghi said Wednesday. "Should some of the downwards risks weaken the inflation outlook over the medium term more fundamentally than we project at present, we would not hesitate to act," Draghi said.

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