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Eyitemclub-012317.jpg The U.K. economy is set to undergo a fairly gradual dip and recover over the coming four years as the country is set to initiate steps to leave the EU this year. According to the EY ITEM Club winter forecast, released Monday, the economy has to shift its reliance from consumer spending towards exports as households started to contain their expenditure due to rising inflation.

Turkey's consumer confidence improved at the start of the year, after weakening in the previous month, figures from the Turkish Statistical Institute showed Monday. The consumer confidence index rose to 66.9 in January from December's 14-month low of 63.4. Households' financial situation expectations...

Confidence among financial services firms deteriorated for the fourth consecutive quarter, the longest period of declining since the financial crisis in 2008, the Financial Services Survey from the Confederation of British Industry and PwC showed Monday. Business volumes were flat in the fourth quarter...

Ireland's output prices increased in December after falling in the previous month, figures from the Central Statistics Office showed Friday. The manufacturing industries output price index, excluding VAT, climbed 1.3 percent year-over-year in December, reversing a 0.3 percent drop in November. The...

Latvia's producer prices decreased at a slower pace in December, figures from the Central Statistical Bureau showed Friday. The producer price index fell 0.8 percent year-over-year in December, following a 1.4 percent stable rate of decline in November. The measure has been falling since January 2015. The...

UK-RS-012017.jpg U.K. retail sales declined at the fastest pace in more than four years in December as consumers minimized their spending amid rising inflation. Retail sales volume including auto fuel fell 1.9 percent from November, when it dropped by a marginal 0.1 percent, the Office for National Statistics said Friday.

Greece's current account deficit increased marginally in November, preliminary figures from the Bank of Greece showed Friday. The current account deficit almost unchanged in November. It rose to EUR 1.2 billion from EUR 1.17 billion in the corresponding month last year. The deficit on goods trade...

Eurozone near-term inflation was forecast to be higher than previous projection on higher oil prices, while longer-term inflation expectations remain unchanged, according to the Survey of Professional Forecasters published by European Central Bank. Inflation was forecast to be 1.4 percent this year,...

U.K. retail sales declined more than expected in December on non-food store sales, data from the Office for National Statistics showed Friday. Retail sales volume including auto fuel fell 1.9 percent from November following a marginal 0.1 percent drop in November. This was bigger than the expected...

Denmark's retail sales decreased for the second straight month in December, preliminary figures from Statistics Denmark showed Friday. Retail sales fell 1.1 percent month-over-month in December, faster than the 0.1 percent slight drop in November. In October, sales had risen 0.7 percent. Sales...

Germany's producer prices increased at the fastest pace in almost four years in December, Destatis reported Friday. Producer prices rose 1 percent year-on-year in December as expected, the fastest since January 2013, when prices climbed 1.5 percent. This was the second consecutive increase in...

EEP06-011515_20Jan17.jpg Retail sales from the U.K. is the only major report due on Friday, headlining a light day for the European economic news.

Estonia's producer prices increased for the third successive month in December, figures from Statistics Estonia showed Thursday. The producer price index climbed 2.5 percent year-over-year in December, faster than the 1.5 percent rise in the previous month. The annual growth in December was largely...

ECB-Draghi-011917.jpg Eurozone inflation is being driven largely by energy costs and the recent pick up in momentum is unlikely to sustain, European Central Bank President Mario Draghi said Thursday, adding that policymakers will continue to look through transient changes. "There are no signs yet of a convincing upward trend in underlying inflation," Draghi said.

ecbrates-011917.jpg The European Central Bank left its key interest rates unchanged for a seventh consecutive policy session and maintained its asset purchases, which will continue at a reduced pace till the end of this year, as the solid economic momentum is sustained in the euro area despite the continuing political flux.

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