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PeterPraet-ECB-032417.jpg Populist narrative that things were better before the euro is a deception and the single currency and EU are made scapegoats, European Central Bank Executive Board member Peter Praet said.

Portugal's budget deficit narrowed in 2016, according to the data published by Statistics Portugal on Friday. The budget deficit halved to 2.1 percent of gross domestic product from 4.4 percent in 2015. This was also below the 3 percent ceiling. The deficit is forecast to narrow further in 2017,...

Eurozone-M-PMI-032417.jpg Eurozone private sector activity expanded at the fastest pace in almost six years in March, amid robust new orders and employment growth in both manufacturing and service sectors. The composite output index rose unexpectedly to 56.7 from 56.0 in February, flash data from the purchasing managers' survey by IHS Markit showed Friday. The score was forecast to fall slightly to 55.8.

Russia-CentralBank-032417.jpg Russia's central bank unexpectedly reduced its key interest rate on Friday, after holding it steady for three sessions in a row, and said it could lower it further as inflation slowdown was faster-than-expected amid an economic recovery though risks remain elevated.

Swiss current account surplus increased in the fourth quarter from a year ago, figures from the Swiss National Bank showed Friday. The current account surplus climbed to CHF 22.0 billion in the three months to December from CHF 16.9 billion in the same period of the previous year. In the third quarter,...

Spain's producer price inflation eased in February after accelerating in the previous three months, the statistical office INE said Friday. Producer prices rose 7.3 percent year-over-year in February, slower than January's 7.6 percent spike, which was the biggest increase since July 2011. Excluding...

UK mortgage approvals for house purchases fell to a three month low in February, British Bankers' Association said Friday. The number of mortgages approved for house purchases fell to 42,613 in February from 44,142 in January. This was the lowest since November. The expected level for February was...

Italy's foreign trade surplus with non-EU countries decreased in February from a year ago, as imports grew faster than exports, figures from the statistical office Istat showed Friday. The trade surplus shrank to EUR 1.7 billion in February from EUR 2.6 billion in the corresponding month last year....

Austria's production index declined in January from a year ago, figures from Statistics Austria showed Friday. The production index that combines output of both industry and construction, fell 1.1 percent year-over-year in January. Construction output decreased 5.6 percent annually in January and...

Eurozone private sector growth reached a near six-year high in March, flash survey data from IHS Markit showed Friday. The composite output index rose to 56.7 in March from 56.0 in February. The latest reading was the highest since April 2011. Economists had forecast the index to fall to 55.8. The...

Germany registered the fastest rate of private sector output growth in nearly six years at the end of the first quarter of 2017, flash survey results from IHS Markit showed Friday. The composite output index rose for the second straight month in March, to 57.0 from 56.1 in February. This was the highest...

Czech economic confidence declined for the second straight month in March to the lowest level in eight months, survey data from the Czech Statistical Office showed Friday. The economic sentiment indicator fell to 11.7 in March from 13.3 in the previous month. It was the lowest score since July last...

France's private sector expanded at the fastest pace in nearly six years in March, flash data from IHS Markit showed Friday. The flash composite output index rose to 57.6 in March from 55.9 in February. The latest figure pointed to the sharpest rate of growth since May 2011. Service providers...

France's economic growth doubled as estimated in the fourth quarter, final data from the statistical office Insee showed Friday. Gross domestic product grew 0.4 percent sequentially, following third quarter's 0.2 percent expansion. The estimates were left unrevised. On average over the year, GDP...

Recent spike in inflation does not mean interest rates must be raised, Bank of England policymaker Gertjan Vlieghe said Friday. Much of the inflationary pressure can be attributed to the sterling's devaluation and the consequent rise in prices of products such as fuel and food, Vlieghe said in an...

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