Brent crude falls to $79.36 per barrelECB warned to expect lower growth and inflation 11.10am GMT Greeces unemployment rate has fallen, but thats partly because more adults dropped out of the labour force this summer.The Greek jobless rate dipped to 25.9% in August, down from 26.1% in July. Thats an improvement on the 27.8% recorded a year ago. (these rates are all seasonally adjusted.) 10.09am GMT The oil price has hit a new four-year low today, in another sign of economic weakness.Oil remains under the cosh after China Industrial production data confirmed the nations slowdown moving into the fourth quarter of the year, intensifying questions over global demand while production is rising.Brent crude extended losses from a four-year low, trading near $80 a barrel amid signs that OPEC remains unwilling to reduce outputThe price of a barrel of Brent Crude Oil remains below US $80 (79.69) as commodity #Disinflation pressures mount.Talk of a price war is a sign of misunderstanding, deliberate or otherwise, and has no basis in reality...We want stable oil markets and steady prices, because this is good for producers, consumers and investors. On course for five successive monthly declines in a row for #Brent #Oil - worst performance since 2008 - pic.twitter.com/ZZjjQ8xcuB 9.36am GMT A group of Europes top economists and forecasters have slashed their growth and inflation forecasts for the eurozone, highlighting the regions economic problems.They have warned the European Central Bank that they expect euro inflation to be just 0.5% this year, down from 0.7%; and 1.0% in 2015, down from 1.2% previously. Since the summer months, incoming data and survey evidence have overall indicated a weakening in the euro areas growth momentum.In particular, the weakening in the euro areas growth momentum, alongside heightened geopolitical risks, could dampen confidence and, in particular, private investment. In addition, insufficient progress in structural reforms in euro area countries constitutes a key downward risk to the economic outlook. 9.07am GMT Octobers Italian inflation data is just out, and it shows that prices inched up by just 0.1% over the last year, and also on a month-on-month basis.#Italy | OCT FINAL CPI M/M: 0.1% V 0.1% PRELIM; Y/Y: 0.1% V %0.1 pic.twitter.com/kCopvO7Lec 8.36am GMT Back in the UK, Bank of England deputy governor Ben Broadbent has warned that real wages and productivity need to rise for Britain to enjoy a proper recovery.Speaking to the BBC, Broadbent said it was extremely welcome that real wages are finally rising. but:What is true is that its hard to have a sustained recovery in which ... productivity and real rates of pay dont start to rise,. 8.22am GMT #Inflation numbers out this morning: Germany: +0.8% (0.8% in Sep) France: +0.5% (0.4% in Sep) Spain: -0.1% (-0.2% in Sep) 8.21am GMT Here comes the Spanish inflation data.... and it shows that prices are still lower this year than in 2013.The Spanish consumer prices index fell by 0.1% annually in October, matching Septembers decline. On a EU-harmonised basis, CPI fell by 0.2%.Spanish CPI inflation rate at -0.1% Y/Y in October, core rate -0.1% #deflation 8.09am GMT The long-term trend of German and French inflation shows a clear direction....German CPI at 0.7% but... pic.twitter.com/leVZIqlTBo@fwred @graemewearden 7 year direction pic.twitter.com/PA5zKN2Mjj 7.59am GMT Frances statistics body, INSEE, says that rising costs of food and services helped to push the French inflation rate up to 0.5% last month.However, the prices of manufactured products declined in October and those of energy, especially those of petroleum products, went on falling. 7.52am GMT Here comes the French inflation report...and its slightly more encouraging than expected.However, the data also shows that Europes second-largest economy remains worryingly close to deflation.#EU #FRENCH OCT. EU-HARMONIZED CPI RISES 0.5% FROM YEAR EARLIER, a bit higher than expectedUpside surprise to French HICP inflation, UP by one tenth to 0.5% YoY (+2 tenths on CPI). Nothing spectacular, but direction matters. 7.44am GMT German inflation rate remains weak, with prices in Europes largest economy rising by just 0.8% over the last year.Data released by federal statistics office Destatis showed that the German consumer prices index rose by 0.8% in October, or just 0.7% on an EU-harmonised basis.http://t.co/aUjQDWlWoD @ECBs #Weidmann: Likelihood of #deflation remains small. Meanwhile,#German MoM #CPI @ -0.3%. pic.twitter.com/Hwy33Z9qae 7.40am GMT Good morning, and welcome to our rolling coverage of the financial markets, the world economy, eurozone and business.Coming up today... new inflation figures from the Eurozones Big Four economies are all released this morning. Europe. CPI numbers out today and will have a big influence on central bank policy. If very low will see more free money into europeGiven all the chatter about splits in the governing council it might well be listening to the other German on the ECB council, Sabine Lautenschläger later this morning when she gives a speech in Stockholm, and who like Bundesbank chief Jens Weidmann is not a fan of QE. Good morning. No cheerful news. China's slowdown continues into fourth quarter http://t.co/B1PWoCXNxR via @fastFT Continue reading...
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