Despite worries over a potentially contracting economy and a global slowdown, eurozone employment levels are on the up. Figures released yesterday showed unemployment to have declined to a low last seen in 2008, of just 7.5%. Although Spain, Portugal and Greece still have high unemployment rates, employment is still rising year-on-year.
German retail sale figures this morning showed mixed results. Although they were up year on year, 4% since last May, they unexpectedly dropped 0.6% instead of rising 0.5% as the markets had expected. Tomorrow, we will see services and composite PMI for the eurozone, France and Germany, all expected to come in positively.
