Inflation in the Eurozone has fallen to a three-year low and unemployment is at a new record. Inflation declined to a 1.2 percent in April. Spain's economy shrank for the seventh consecutive quarter. Severe unemployment and economic data from Spain and other Euro area countries have fuelled a strong discussion over whether Europe should discard austerity policies. German unemployment rose for a second month in April. And Italy’s unemployment rate remained near a 20-year high in March, as companies refrained from hiring whilst political deadlock and the longest economic recession in two decades. Still, consumer confidence unexpectedly rose in April.
Conversely in the U.K. consumer confidence unexpectedly fell in April as inflation rose, increasing households' concerns about personal finances. In March, the inflation was at 2.8 percent. The Bank of England predicts the rate of inflation will increase in coming months. Last week, data showed the U.K. economy increased 0.3 percent in the first quarter, avoided a triple-dip recession. Although, unemployment rose rapidly in more than a year in the three months through February and the government has expanded its program to stimulate lending and kick-start growth.
Posted in Daily Market News on May 30 2014
The Pound rose for a fourth day versus the Dollar, the longest streak since November, following reports that U.K. house prices increased this month. Average house-price values in England and Wales increased 0.3 percent, which was the largest gain in three years.VIEW FULL ARTICLE
Posted in Daily Market News on Apr 29 2013 by alex