EUR News

Germany's consumer price inflation accelerated for a second straight month in January to its highest level in four years, preliminary figures from Destatis showed Monday.

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Eurozone inflation accelerated strongly in January, mainly led by energy prices, to exceed economists' expectations, while the core figure held steady, preliminary data from Eurostat showed Tuesday.

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Eurozone entered 2017 on a strong footing with output growth maintained at December's five-and-a-half year high and job creation near nine-year record, final data of the purchasing managers' survey from IHS Markit showed Friday. Elsewhere, official data showed that retail trade declined in December on fuel sales, but the pace of decline halved from November.

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Orders received by the German engineering industry declined in 2016, mainly due to a slump in foreign demand amid the heightened political uncertainty across the world, figures from the Mechanical Engineering Industry Association, or VDMA, showed Monday.

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Economic sentiment in the euro area continued to strengthen in the first quarter, suggesting that the economic recovery is gathering momentum, advance results of the Ifo World Economic Survey showed Monday.

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Germany's trade surplus reached a record high in 2016 as exports grew more than imports, weathering global uncertainties. The trade balance showed a surplus of EUR 252.9 billion in 2016, the highest value ever recorded and clearly exceeded the previous peak of EUR 244.3 billion achieved in 2015, Destatis reported Thursday.

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Eurozone growth is set to ease this year, but the slowdown would be less severe than earlier expected, despite a high degree of uncertainty clouding the outlook, the European Commission said Monday, while releasing its macroeconomic projections for the European Union.

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European Central Bank policymakers broadly agreed to look through the energy-driven recent upturns in headline inflation and sought patience as they judged that the euro area economy required a substantial monetary stimulus to bring price growth to target, minutes of the bank's policy session held on January 18-19 showed Thursday.

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German Chancellor Angela Merkel said on Saturday that there was a "valuation problem" with the euro and it was beyond the influence of her government as monetary policy is set for the entire euro area that has 19 member states.

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German business confidence unexpectedly improved in February on an upbeat assessment of the current economic situation and greater optimism for the future, adding to evidence that suggests growth is gaining momentum in the biggest euro area economy.

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