020 7898 0500The euro enjoyed a positive day yesterday, as it made gains against the pound and dollar. Figures from the eurozone showed that wage growth increased by 1.6% in the third quarter of 2017, from an upwardly revised 2.1% in the previous quarter. Meanwhile, construction output increased 2% year-on-year in October which was better than the 1.1% predicted.
German business confidence slipped a little and it is rumoured to be largely down to the recent breakdown in coalition talks. It was expected to come in at 117.5 but it was actually 117.2. No matter – Germany’s economy has had a pretty brilliant year and 117.2 is still a strong figure. It simply points to a slight dip in optimism.
Today is extremely quiet for the eurozone, with no major economic data releases. Tomorrow we have the flash consumer confidence reading for the eurozone.
