According to the latest consumer prices data out yesterday Inflation in Greece fell to -1.7% in October, A decline on last months figure of -0.8%. As the Greek economy struggles with high unemployment and the impact of austerity measures imposed by the EU this is a further sign that their ailing economy is still on shaky ground.
There were also added fears over Italy’s weak economy especially with data yesterday showing manufacturing output has fallen again. In Italy industrial production fell 0.9% in September with Economists only anticipating a 0.2% decline.
That means that industrial production has shrunk by 1.1% over the last quarter, accelerating from a 0.5% decline in April-June. Overall this equates to Italian production being 2.9% lower than in September 2013.
On a slightly brighter note, but still not great news was that euro zone investor confidence has stopped falling, but remains close to an 18-month low. The monthly measure of investor morale came in at -11.9 this month, up from minus -13.7 in October.
Inflation in China has dipped to a four year low as their economy slows. The CPI October headline inflation figure was 1.6% higher than the same time last year. Annual CPI is at its lowest level since December 2009 as lower commodity prices and subdued domestic demand have lowered chinas inflation rate.
No announcements today
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