Great Recession in Europe

Annual inflation in the Eurozone has risen to 2 percent in October 2024 compared to the same month in 2023, marking an increase from 1.7 percent in September. This information comes from a preliminary assessment released today by Eurostat, the European statistical service.

Greek bonds are a “safe haven” for investors against the turbulence triggered in international money markets by the negative signals sent by major European economies and the turbulent geostrategic environment of the two wars in Ukraine and the Middle East.

Bulgaria's industrial production has seen growth for the third consecutive month, with a reported increase of 0.8% in August compared to July, following minimal gains of 0.1% in June and 0.6% in July, as per data released by the European Statistical Office.

In 2023, around 4.9 percent of residents aged 16 and older in the European Union reported experiencing housing difficulties, defined as lacking a permanent home and relying on temporary accommodation. This data was released by Eurostat, highlighting a significant disparity among those at risk of poverty or social exclusion, with 8.5 percent experiencing similar issues.

China's economy expanded at a slower-than-expected rate of 4.6 percent in the July-September quarter, the government has said.

Annual decline in industrial production accelerated, but the unemployment rate fell for a second month in a row in August, separate data from the Turkish Statistical Institute (TÜİK) showed on Oct. 10.

Output in the key industry sector dropped by 5.3 percent year-on-year, after contracting 5 percent annually in July.

The positive sentiment in the secondary market coupled with positive developments on the fiscal front have contributed to the following paradoxical occurrence: Greece, which has a much lower credit rating (BB, BB-), borrowing at a lower interest rate than France, which the rating agencies rank at the top of the rating scale (AA-, AA2).

At the start of summer 2024, Bulgaria has reported record low unemployment levels. According to the latest data from Eurostat, the share of job vacancies across the European Union declined to 2.4 percent in the second quarter, down from 2.6 percent in the previous quarter.

In June, Bulgaria's services sector saw a monthly production increase of 0.6 percent, while Eurostat data showed a decline in the EU for the same period. Production in the Eurozone's services sector dropped by 0.8 percent compared to May, with the overall EU figure falling by 0.9 percent.

Industrial production fell by 4.7 percent year-on-year in June after inching up 0.1 percent in the previous month, data from the Turkish Statistical Institute (TÜİK) have shown.

In April, the annual decline in industrial output was 0.7 percent.