All the day’s economic and financial news, including new UK consumer credit data and the latest eurozone inflation and unemployment statistics * Latest: Eurozone keeps creating jobs * US slams ‘sham election’ in Venezuela * Brent crude rises towards $53 per barrel * Full story: Venezuela heading for dictatorship, US claims * The agenda: UK and eurozone data this morning 10.11am BST BOOM! UNEMPLOYMENT ACROSS THE EUROZONE HAS FALLEN TO A NEW EIGHT-YEAR LOW. The euro area jobless rate has dropped to 9.1% in June, down from 9.2% in May. This level was last seen in February 2009, after the financial crisis drove Europe into recession. Among the Member States, the lowest unemployment rates in June 2017 were recorded in the Czech Republic (2,9%), Germany (3.8%) and Malta (4.1%). The highest unemployment rates were observed in Greece (21.7% in April 2017) and Spain (17.1%). 9.50am BST NEWSFLASH: BACK IN THE UK, THE NUMBER OF MORTGAGES BEING APPROVED HAS DIPPED TO A NINE-MONTH LOW. A total of 64,684 new home loans were agreed in June, new figures from the Bank of England show, down from 65,109 in May. That’s the lowest since September 2016. UK mortgage approvals in June continue to point to fairly flat rather than falling house prices in the next 6 months. pic.twitter.com/HMvWQ5SvBa UK consumer credit rises again, to 19.7% of household income in Q2. Most of the push has come from personal loans & overdrafts. pic.twitter.com/5C8YqxihDD Continue reading...
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