* Eurozone inflation weaker than expected at 0.2% * German retail sales jump in July * Pound rises against dollar and euro * UK house prices rise 0.6% in August * Eurozone unemployment steady at 10.1% * Consumer confidence rebounds in UK 11.05am BST STEPHEN BROWN, European economist at CAPITAL ECONOMICS, says there a strong case for further action from the ECB following the weaker than expected inflation and unemployment data: The unchanged headline inflation rate in August highlights the fact that price pressures in the eurozone remain weak and boosts the case for more monetary easing from the ECB. The unemployment rate is well above its 1999 to 2007 average of 8.8%, indicating that there is a large amount of slack in the economy and suggesting that wage pressures will remain subdued. 11.02am BST Among the eurozone’s 19 members, the jobless rate is highest in GREECE at 23.5%, followed by 19.6% in SPAIN. The lowest rates were in MALTA, at just 3.9%, and GERMANY at 4.2%. Continue reading...
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