The start of Friday wasn’t great for eurozone economic data either, as German retail sales slid by 0.4% in August against an expectation of a 0.5% rise. However, German jobless claims fell by 23,000 in September and the unemployment rate is now at 5.6% – the lowest level since German reunification in 1990.
Eurozone inflation came in below forecasts for September, as prices only rose by 1.5% which is the same as August. Economists had expected an increase to 1.6%. In addition, core inflation fell from 1.2% to 1.1%. The fiscal stimulus programme of printing money is not having the European Central Bank’s desired effect which suggests they could continue doing this for a while yet.
Later today we have the eurozone unemployment rate release and tomorrow we will see Spain’s consumer confidence and jobless claims. On Wednesday, we will have the eurozone’s retail sales and Thursday sees the release of the eurozone’s retail PMI.