Key Economic Reports: US inflation increases in October, European economy is weakening

Key Economic Reports: US inflation increases in October, European economy is weakening


Inflation in the United States rose to 2.5 percent in October, from 2.3 percent a month earlier. This is shown by figures from the American government. The figure meets the average expectation of economists. Core inflation, excluding the fluctuating prices of energy and food, was 2.1 percent on an annual basis, compared to 2.2 percent in September. On a monthly basis, US consumer prices went up by 0.3 percent. Inflation plays an important role in the interest policy of the Federal Reserve, the American umbrella of central banks.

The economy of the euro zone grew less strongly in the third quarter than in the previous period. According to a preliminary estimate from Eurostat, the euro area economy advanced by 0.2 percent quarter on quarter, against 0.4 percent in the second quarter. The figure corresponds to the average expectation of economists. For the entire European Union, growth was measured at 0.3 percent, against 0.5 percent in the previous period. On an annual basis, economic progress in the eurozone was 1.7 percent and 1.9 percent in the EU.

Manufacturing industry in the euro area fell by 0.3 percent in September compared to a month earlier. This was reported by the European statistical office Eurostat. Economists on average accounted for a decrease of 0.4 percent. In August, production went up by 1.1 percent according to a new estimate. Previously, Eurostat reported an increase in production of 1 percent. Manufacturing production declined by 0.2 percent throughout the European Union, after rising 0.9 percent in the previous month.

The labor market in the euro countries improved in the third quarter. Employment in the eurozone countries grew by 0.2 percent in comparison with the previous three months, according to preliminary estimates from the European statistical office Eurostat. For the whole European Union too, employment growth was 0.2 percent. Eurostat will come later with more detailed figures on the European labor market.

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She is the Managing Editor for in-depth discussions and analysis as well as breaking news at Markets Morning. She works closely with Editor-in-Chief Zac Berry on content and publishing initiatives for the site. Brianna Clemons has worked as a financial journalist and editor since 1997. She lives in Bucks County, PA, with her husband, four young children and one dog.