Factories across the eurozone are having their best year since the start of the century, according to a closely-watched series of surveys, with Italy a particular highlight as businesses reported much better than expected conditions in October.
The European Stability Mechanism (ESM) could get new powers to monitor eurozone economies next year as part of the single currency bloc's plan to integrate more deeply, Klaus Regling, the head of the eurozone bailout fund, said.
Eurozone unemployment fell to its lowest level in eight years in June, while a key inflation figure picked up to its fastest pace since 2013 in July, underscoring the gathering momentum of the bloc’s economic expansion.
Inflation in the eurozone slipped back in June, official data confirmed, as investors get ready to scrutinize comments from ECB president Mario Draghi on the central bank’s stimulus measures later this week.
The eurozone economy still needs a long period of easy monetary policy and a shift in message that induced a market selloff last week was merely a nuanced change to reflect better growth, said Peter Praet, European Central Bank’s (ECB) chief economist.