FOREX TradingCharts.com

Financial News: Eurozone Jobless Rate Lowest Since 2009; Manufacturing Sec

Eurozone Jobless Rate Lowest Since 2009; Manufacturing Sector Expands

07/03/2017 - 08:13:00 (RTTNews)

(RTTNews) - The Eurozone unemployment rate held steady at the lowest level in more than eight years in May, official data showed Monday.

Purchasing Managers' survey data revealed that the euro area expanded at the fastest pace in over six years in June and exceeded the initial estimate, reflecting improved performances across major economies.

The jobless rate came in at seasonally adjusted 9.3 percent in May, the same rate as in April, which was the lowest rate seen since March 2009, Eurostat reported.

In the corresponding month last year, the unemployment rate was 10.2 percent.

The number of unemployed decreased by 5,000 from April to 15.034 million in May. Compared to previous year, unemployment fell by 1.428 million.

The unemployment rate among youth aged below 25 also remained unchanged at 18.9 percent in May.

The EU jobless rate was 7.8 percent in May, unchanged from April and down from 8.7 percent in May 2016. Thus, it remained at the lowest rate recorded in the EU28 since December 2008.

Among the member states, the lowest unemployment rates in May were registered in the Czech Republic, Germany and Malta.

While the Eurozone unemployment rate was unchanged in May, survey indicators point to strong employment gains ahead, Stephen Brown, an economist at Capital Economics, said.

Nevertheless, the high degree of slack in some countries suggests that it will be some time before wage growth and inflation pick up across the Eurozone, the economist noted.

According to final data from IHS Markit, the Eurozone final manufacturing Purchasing Managers' Index rose to 57.4 in June from 57.0 in May. The score was above the flash 57.3.

The PMI has now remained above the neutral 50.0 mark throughout the past four years.

"At current levels, the PMI is indicative of factory output growing at an annual rate of some 5 percent, which in turn indicates the goods producing sector will have made a strong positive contribution to second quarter economic growth," Chris Williamson, chief business economist at IHS Markit, said.

The strongest rates of improvement in operating conditions were recorded in Austria, Germany and the Netherlands. Growth also accelerated in France and Italy.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2017 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


New Home Sales Rise In June (24 min(s), 51 sec(s) ago)
(RTTNews) - U.S. new home sales were robust in June, roughly in line with estimates as interest ra ...Full Story»

UK Economy Expands On Services Output In Q2 (01 hr(s), 55 min(s), 51 sec(s) ago)
(RTTNews) - The UK economy expanded in the second quarter on services output, but the pace of over ...Full Story»

UK Mortgage Approvals Stagnate In June: UK Finance (03 hr(s), 08 min(s), 51 sec(s) ago)
(RTTNews) - Corrects heading The UK mortgage approvals stagnated in June, data published by t ...Full Story»

UK Mortgage Approvals Stagnate In June: BBA (03 hr(s), 12 min(s), 51 sec(s) ago)
(RTTNews) - The UK mortgage approvals stagnated in June, data published by the UK Finance showed W ...Full Story»

RBA Chief Says Rate Cut To Stimulate Inflation Risks Financial Stability (03 hr(s), 41 min(s), 51 sec(s) ago)
(RTTNews) - Any reduction in interest rate to push up inflation could lift asset prices, posing me ...Full Story»

Denmark Retail Sales Drops Slightly In June (04 hr(s), 02 min(s), 51 sec(s) ago)
(RTTNews) - Denmark's retail sales dropped marginally in June, preliminary figures from Statis ...Full Story»

Italy Consumer Confidence Improves Unexpectedly; Business Confidence Falls (04 hr(s), 22 min(s), 51 sec(s) ago)
(RTTNews) - Italy's consumer confidence improved unexpectedly in July, while business confiden ...Full Story»

UK GDP Growth Improves Slightly In Q2 (05 hr(s), 45 min(s), 51 sec(s) ago)
(RTTNews) - The UK economy expanded at a slightly faster pace in the second quarter, preliminary d ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

New Home Sales Rise In June

07/26/2017 - 10:09 AM (RTTNews)
(RTTNews) - U.S. new home sales were robust in June, roughly in line with estimates as interest ra ...Full Story>>

UK Economy Expands On Services Output In Q2

07/26/2017 - 08:38 AM (RTTNews)
(RTTNews) - The UK economy expanded in the second quarter on services output, but the pace of over ...Full Story>>

UK Mortgage Approvals Stagnate In June: UK Finance

07/26/2017 - 07:25 AM (RTTNews)
(RTTNews) - Corrects heading The UK mortgage approvals stagnated in June, data published by t ...Full Story>>

UK Mortgage Approvals Stagnate In June: BBA

07/26/2017 - 07:21 AM (RTTNews)
(RTTNews) - The UK mortgage approvals stagnated in June, data published by the UK Finance showed W ...Full Story>>

RBA Chief Says Rate Cut To Stimulate Inflation Risks Financial Stability

07/26/2017 - 06:52 AM (RTTNews)
(RTTNews) - Any reduction in interest rate to push up inflation could lift asset prices, posing me ...Full Story>>

Binary Options Articles Courtesy of NADEX

These pages, and all content ©TradingCharts.com Inc and other copyright holders. Permission is not granted to redistribute charts, data, news or other information found on this site, in any manner. Although it is believed that information provided is accurate, TradingCharts will not accept liability for any loss or damage that may arise from use of the content, inability to access the website, or delay or failure of receive of any information provided through this site.