European Economic News

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The Eurozone 2013 budget deficit was lower than previous estimates, according to data based on European System of Accounts 2010 methodology. The budget deficit came in at 2.9 percent of GDP in 2013 instead of 3 percent calculated under ESA95 methodology, Eurostat reported Tuesday. The deficit...

Greece's current account surplus for August increased from the same month last year, figures from the Bank of Greece showed Tuesday. The current account surplus rose to EUR 1.8 billion from EUR 1.2 billion a year ago. This increase was mainly due to higher services surplus in August. The surplus...

The U.K. budget deficit increased in September from last year, data published by the Office for National Statistics showed Tuesday. Public sector net borrowing excluding interventions totaled GBP 11.8 billion in September, an increase of GBP 1.6 billion from the same period of last year. This increase...

Hungary's employee wage growth slowed notably in August from a year ago, figures from the Hungarian Central Statistical Office showed Tuesday. Gross earnings rose 2.2 percent year-on-year in August, slower than July's 3 percent rise. In June, earnings went up 3.7 percent. Net earnings also increased...

Switzerland's money supply growth increased in September, the Swiss National Bank reported Tuesday. M3, the broad measure of money supply, grew 3.4 percent year-on-year in September after rising 3.3 percent in August. Likewise, annual growth in the narrow measure, M1 rose to 2.9 percent from 2.8...

The unemployment rate in Finland rose more than expected in September, figures from Statistics Finland showed Tuesday. The jobless rate increased to 8.2 percent in September from 7.6 percent in the same month of the previous year. Economists had expected the unemployment rate to rise to 7.9 percent. The...

The Switzerland's trade surplus increased in September, data from the Swiss Federal Customs Administration showed Tuesday. The trade surplus rose to CHF 2.45 billion in September from around CHF 1.3 billion in August. The expected level was CHF 2.49 billion. Exports climbed 2.2 percent to CHF 17.52...

EEP-102114.jpg Public sector finance from the U.K. is the major report due on Tuesday, headlining a light day for the European economic news.

Belgium's consumer confidence deteriorated in October after stabilizing at a one-year low in September, survey figures from the National Bank of Belgium showed Monday. The consumer confidence index dropped to -12 from -11 in September. Households grew more pessimistic regarding the overall economic...

The Bundesbank is downbeat about the German economic outlook, saying the year would end on a moderate note. The economic outlook should be either on the same level of the second quarter or slightly better than the prior quarter, the bank said in its monthly report on Monday. The largest euro...

U.K. gross mortgage lending decreased slightly in August from last month, figures from the Council of Mortgage Lenders showed Monday. Gross mortgage lending totaled GBP 17.8 billion, down 1 percent from August. But it grew 10 percent from last September. In the third quarter, gross mortgage lending...

The monthly lending flow to UK businesses has been volatile on a monthly basis, but on average, it was broadly close to zero over the past six months, the Trends in Lending report from the Bank of England showed Monday. Gross lending by all MFIs to UK non-financial businesses increased by 21 percent...

Italy's industrial orders rebounded in August, figures from the statistical office Istat showed Monday. Total orders recovered by 1.5 percent month-over-month in August, reversing the 1.5 percent drop in July Orders in the domestic market rose 0.7 percent and orders in the international market...

The Eurozone current account surplus declined in August as the surplus on trade in services decreased notably, data from the European Central Bank showed Monday. The current account surplus fell to a seasonally adjusted EUR 18.9 billion in August from EUR 21.6 billion in July. The surplus on trade...

Dutch consumer confidence improved unexpectedly in October, survey data from the Central Bureau of Statistics showed Monday. The consumer confidence index rose to -3 in October from -7 in September. The indicator was forecast to fall to -8. This was the highest score since July, when the reading...