EUR News

Global financial system is now better prepared to face another crisis, if and when it occurs, Chair of the Supervisory Board of the European Central Bank Daniele Nouy said.

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Italy's industrial production dropped in July, defying expectations for an increase, preliminary data from the statistical office ISTAT showed Wednesday. Industrial production decreased a working-day adjusted 1.3 percent year-on-year after a 1.4 percent rise in June, which was revised from 1.7 percent.

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Euro area consumer confidence improved modestly in October, defying economists' expectations for further decline, preliminary data from the European Commission showed on Tuesday. The flash consumer confidence index climbed to -2.7 from -2.9 in September, which was the lowest since May 2017.

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The European Central Bank is widely expected to maintain status quo on conclusion of its policy session on Thursday as the recent developments, some slightly dismal, are too insignificant to warrant a change of course. Meanwhile, ECB President Mario Draghi is likely to adopt a slightly more dovish tone as core inflation is yet to show any sharp pick-up that the bank expected earlier.

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Germany's factory orders grew for a second straight month in September, defying expectations for a fall, preliminary data from the Federal Statistical Office showed on Tuesday.

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European Central Bank Governing Council member Jozef Makuch will step down as the Slovak central bank governor on March 1, 2019, the National Bank of Slovakia said in a statement on Tuesday.

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Germany's consumer confidence is set to slightly weaken at the end of the year as high inflation rates and global economic uncertainty weigh on households' sentiment, survey results from the GfK showed on Wednesday. The forward-looking consumer confidence indicator is set to drop to 10.4 from 10.6 in November, the Nuremberg-based GfK said in its latest report.

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Eurozone's private sector growth was the lowest in more than two years during November, led by Germany, though the pace of slowdown was less than what was estimated initially.

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German investor confidence rose strongly in December, defying expectations for a modest weakening, but caution prevailed as financial analysts' assessment of the current economic situation again deteriorated sharply due to sluggish economic growth and uncertainties linked to global trade and Brexit. The ZEW Indicator of Economic Sentiment for Germany rose 6.6 points to reach minus 17.5 points.

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Eurozone's industrial production grew in October after a slump in the previous month, suggesting that economic growth may gain some steam towards the end of the year, yet remain sluggish. Industrial production rose 0.2 percent from September, when it declined 0.6 percent, which was revised from 0.3 percent.

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