EU economic data

eur-data-2-11-16


The German labor market continued to show strength with the unemployment rate unexpectedly dropping to a new all-time low, official data showed on Wednesday.

In a report, Germany’s Federal Statistics Office said the unemployment rate fell to a seasonally adjusted 6.0% in October. Analysts had expected the jobless rate to remain steady at the previous 6.1%.

Additionally, the number of unemployed people fell by a seasonally adjusted 13,000 from a month earlier, compared to forecasts for a drop of just 1,000. Jobless claims had unexpectedly risen by 1,000 in September in what had been its first increase in a year.


The euro zone’s manufacturing PMI rose unexpectedly last month, data showed on Wednesday.

In a report, research group Markit said the euro zone’s manufacturing PMI rose to 53.5, from 53.3 in the preceding month.

Analysts had expected the euro zone’s manufacturing PMI to remain unchanged at 53.3 last month.

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