In Europe

españa inflacion alimentos

Final Eurozone CPI in 2025 improves on preliminary figure: 1.9% compared to 2% due to lower pressure from food prices

Singular Bank | In December, Eurozone shopping basket prices rose by 0.2% compared to the previous month (versus a fall of 0.3% in November). Meanwhile, in year-on-year terms, the overall inflation rate fell by 0.2 pp to 1.9% (versus 2.1% in November), slightly below the ECB’s target (2.0%) and the lowest level since May. By item, the positive contribution of services (up 1.54 pp) stood out, followed by food, alcohol…


employment

Eurozone unemployment rate falls slightly to 6.3% in November

CdM | The unemployment rate fell slightly in November in the Eurozone, to 6.3%, one tenth below the previous month’s figure, but one tenth higher than the previous year’s figure, according to Eurostat, the statistical office of the European Union (EU). Across the EU, the unemployment rate stood at 6% in November, stable compared to October and higher than the 5.8% recorded in the same month in 2024. Compared to…


Eurozona IPC 1

M3 monetary aggregate rises 3% year-on-year in Eurozone in November

Link Securities | According to the ECB, the M3 monetary aggregate rose 3.0% year-on-year in November in the Eurozone, accelerating from 2.8% in October and exceeding the consensus forecast of FactSet analysts, who had expected a 2.7% increase for the month. In November, credit granted to households by euro area institutions rose by 2.9% year-on-year (the highest rate since March 2023) from 2.8% in October. Meanwhile, loans to non-financial corporations…


Eurozona IPC 1

Financial Times survey of economists forecasts Eurozone GDP growth of 1.2% for 2026

Link Securities | A Financial Times survey of economists forecasts Eurozone GDP growth of 1.2% for 2026, compared to 1.4% for 2025 and forecasts of 1.4% for 2027. The region’s economic outlook depends heavily on Germany, Europe’s largest economy, which is expected to recover thanks to the strong fiscal expansion announced by the German government. However, there has been disappointment so far with the pace of reforms and doubts about…


european commission

Eurozone consumer confidence falls to -14.6 points from -14.2 previously, reaching lowest level in three months

Link Securities | According to preliminary estimates for December released by the European Commission (EC), the Eurozone consumer confidence index fell to -14.6 points from -14.2 points in the previous month, reaching its lowest level in three months. Analysts had expected a higher reading of -14.0 points.Germany’s consumer confidence index, compiled by the consulting firm GfK, fell in its preliminary January reading to -26.9 points from -23.4 points in December….


Eurozona PMIs

Eurozone industrial production rises 0.8% in October, more than expected

CdM | Eurozone industrial production rose 0.8% in October, according to data from Eurostat, the EU statistics office. The figure was above consensus forecasts, which anticipated a more moderate increase of 0.1%. Across the European Union (EU), it grew 0.3% in the tenth month of the year. Analysed in detail, industrial production in the eurozone increased by 0.3% for intermediate goods, 1.1% for energy prices, 0.5% for capital goods, 0.2%…


Alemania China

German exports accelerate by 0.1% compared to previous month, exceeding expectations of 0.5% decline

Norbolsa | German exports rebounded unexpectedly in October, exceeding expectations of a decline. Meanwhile, exports to the US and China fell sharply. Total exports accelerated by 0.1% compared to the previous month, differing from the forecast of a 0.5% decline. Imports fell by 1.2%, while the overall balance showed a surplus of €16.9 billion in October, compared to €15.3 billion in September. Exports to eurozone countries grew by 2.7%, while…


eurozona mapa billete 1

Sentix investor confidence index for December shows stabilisation of sentiment in Eurozone

Link Securities | The Sentix investor confidence index for December showed a stabilisation of sentiment in the Eurozone. In its overall reading, the index rose slightly to -6.2 points in December, in line with expectations, compared to -7.4 points, while the current situation sub-index reached -16.5 points, compared to -17.5 points in November, and the expectations sub-index stood at 4.8 points, up from 3.3 points the previous month. Sentix noted…


UE gas

European Union announces end of Russian gas imports from 2027 onwards

Bankinter | The European Union announces the end of Russian gas imports. A provisional agreement has been reached that will allow for the permanent cessation of liquefied natural gas imports by 31 December 2026, and pipeline imports by 30 September 2027. Finally, it reiterates its commitment to ensuring the elimination of all oil imports by the end of 2027. Bankinter analysis team’s view: This is good news because it represents…


eurozona banderas CM

Eurozone confidence indicators improve in November, except for industry

Singular Bank | According to the European Commission, in the final reading for November, the Eurozone Economic Sentiment Indicator (ESI) rose slightly by 0.2 points to 97.0 points. This development was driven by a notable increase in confidence in the services, construction and retail sectors. In contrast, there was a notable decline in economic sentiment in the industrial sector. Meanwhile, employment expectations in the European monetary bloc rebounded to 97.8…