eurozone

In Europe 21st October 2024

Eurozone August trade balance disappoints: surplus falls sharply to €11.0 billion from €17.6 billion

Intermoney | Eurozone trade balance figures for August disappointed as the trade surplus narrowed quite a bit, to €11bn (vs. an estimated €17.6bn). At the same time, July’s data was revised down to a surplus of €13.7 billion. The euro area’s surplus in trade in goods with the rest of the world also narrowed, mainly due to lower exports of machinery and vehicles. Trade tensions were more than evident with…

In Europe 22nd September 2024

3% fall in energy prices vs. August 2023 drives Eurozone’s new disinflationary advance

Singular Bank: According to Eurostat’s final reading, in August the year-on-year rate of change of the Eurozone’s headline CPI stood at 2.2% (versus 2.6% in July), representing its lowest level in three years. In a situation in which monthly prices grew at a faster pace of 0.1% (versus 0.0% in July). This new advance in the disinflationary process was driven by the fall in energy prices of 3.0% with respect…

European economy 18th September 2024

Eurozone generates trade surplus of €21.2 billion in July, well above July 2023’s €6.7 billion

Link Securities | According to the preliminary estimate of the data, released on Tuesday by Eurostat, the Eurozone generated in July a trade surplus with the rest of the world amounting to €21.2 billion (€21.7 billion in June), much higher than the €6.7 billion reached in July 2023 and the €18 billion expected by FactSet’s consensus analysts. In the month of July, exports of goods from the Eurozone to the…

European economy, In Europe, Relevant News Item 22nd August 2024

Eurozone inflation rebounds in July to 2.6%, core remains at 2.9% for third month in a row

CdM | The inflation rate in the euro area stood at 2.6% year-on-year in July, one tenth of a percentage point higher than the rise in prices observed in June. Moreover, as confirmed by the EU statistics office, Eurostat, in the EU as a whole the rate has risen to 2.8%, two tenths of a percentage point more than in June. The acceleration in price increases in the euro area…

European economy, In Europe, Relevant News Item 20th August 2024

Eurozone trade surplus rises to €22.3 billion in June

Link Securities | According to Eurostat data, the Eurozone’s trade surplus rose to €22.3 billion in June, exceeding analysts’ consensus forecast of €13.3 billion and also surpassing the €18 billion surplus in the same month last year. Imports decreased by 8.6% year-on-year to €214 billion, mainly due to lower purchases of manufactured goods (-11.0%); transport equipment and machinery (-11.0%); mineral fuels, lubricants and related products (-9.1%); and chemicals (-6.8%). Meanwhile,…

European economy, In Europe 16th August 2024

Eurozone maintains pace of expansion: GDP grows 0.3% in second quarter

CdM | The Eurozone maintained the pace of expansion in the second quarter, when gross domestic product (GDP) grew by 0.3% over the previous three months, according to the second reading of the data published by Eurostat, the statistical office of the European Union (EU), which coincides with the first estimate. Compared with the same quarter of the previous year, GDP increased by 0.6% in the euro area following growth…

European economy, In Europe 1st August 2024

Eurozone GDP rises to 0.6% year-on-year in 2Q24, beating forecast, on resilience of France, Spain and Italy

Banca March: In the eurozone, GDP growth in the second quarter beat forecasts, both in quarterly and year-on-year terms. This resilience is based on the fact that three of the four main economies – France, Spain and Italy – have delivered better than expected figures, offsetting the unexpected contraction in Germany. Aggregate GDP variation in the quarter remained at +0.3%, the same as in the previous quarter, but better than…

European economy 17th July 2024

Eurozone inflation down 1/10 of a percentage point to 2.5% in June, core stable at 2.9%; Spain’s rate at 3.6%

The inflation rate in the Eurozone stood at 2.5% year-on-year in June, one tenth of a percentage point lower than the rise in prices observed in May, according to the second reading of the data published by the EU statistics office, Eurostat, while in the European Union (EU) as a whole the rate fell by one tenth of a percentage point to 2.6%. The slight moderation in price increases in…

European economy 16th July 2024

Eurozone industrial production contracts 2.9% year-on-year in May (against 3.1% in previous month), but grows 0.7% for energy

Link Securities | Eurostat published yesterday that industrial production in the Eurozone declined 0.6% in the month of May relative to April, in seasonally adjusted data. The reading beat the 1.0% drop expected by FactSet’s consensus of analysts. By industry type in May, output fell 1.0% for intermediate goods, 1.2% for capital goods and 1.8% for consumer durables. Conversely, output rose 0.8% for energy and 1.6% for consumer non-durables. Year-on-year,…

European economy 20th June 2024

Eurozone inflation rebounds to 2.6% in May and core rate rises to 2.9%

CdM | Eurozone inflation rose two tenths of a point in May to 2.6%, while the underlying rate, which excludes the impact of energy and food, also rose two tenths of a point to 2.9%, according to data published by Eurostat, the European Union (EU) statistics office. This means that the Consumer Price Index (CPI) recorded its first increase since December last year, reaching the highest level since last February….

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