AGL 38.09 Decreased By ▼ -0.07 (-0.18%)
AIRLINK 136.34 Increased By ▲ 2.15 (1.6%)
BOP 9.20 Increased By ▲ 0.35 (3.95%)
CNERGY 4.72 Increased By ▲ 0.03 (0.64%)
DCL 8.85 Increased By ▲ 0.18 (2.08%)
DFML 38.34 Decreased By ▼ -1.44 (-3.62%)
DGKC 85.45 Increased By ▲ 0.30 (0.35%)
FCCL 35.15 Increased By ▲ 0.25 (0.72%)
FFBL 76.21 Increased By ▲ 0.61 (0.81%)
FFL 12.66 Decreased By ▼ -0.08 (-0.63%)
HUBC 108.70 Decreased By ▼ -0.75 (-0.69%)
HUMNL 14.73 Increased By ▲ 0.63 (4.47%)
KEL 5.58 Increased By ▲ 0.18 (3.33%)
KOSM 7.96 Increased By ▲ 0.21 (2.71%)
MLCF 40.78 Decreased By ▼ -0.59 (-1.43%)
NBP 70.94 Increased By ▲ 1.24 (1.78%)
OGDC 195.25 Increased By ▲ 1.63 (0.84%)
PAEL 26.96 Increased By ▲ 0.75 (2.86%)
PIBTL 7.46 Increased By ▲ 0.04 (0.54%)
PPL 168.02 Increased By ▲ 4.17 (2.55%)
PRL 26.19 Decreased By ▼ -0.17 (-0.64%)
PTC 20.34 Increased By ▲ 0.87 (4.47%)
SEARL 92.75 Increased By ▲ 8.35 (9.89%)
TELE 7.84 Decreased By ▼ -0.15 (-1.88%)
TOMCL 35.49 Increased By ▲ 1.44 (4.23%)
TPLP 8.91 Increased By ▲ 0.19 (2.18%)
TREET 17.29 Increased By ▲ 0.11 (0.64%)
TRG 59.27 Decreased By ▼ -1.73 (-2.84%)
UNITY 31.02 Increased By ▲ 2.06 (7.11%)
WTL 1.37 No Change ▼ 0.00 (0%)
BR100 10,901 Increased By 125.5 (1.16%)
BR30 32,654 Increased By 420 (1.3%)
KSE100 101,357 Increased By 1274.6 (1.27%)
KSE30 31,488 Increased By 295 (0.95%)

Europe's economic recovery is gathering steam, with eurozone unemployment falling to its lowest level since January 2009 and inflation picking up, official figures showed Thursday. The EU's official statistics agency announced that the jobless rate in the single currency area fell to 8.8 percent in October, with inflation rising to 1.5 percent.
The positive data come after the European Central Bank (ECB) announced it was starting to wind down the massive support it has given the 19-member currency zone to help it through the crises of recent years. Seasonally-adjusted unemployment in the eurozone was down from 8.9 percent in September, while the figure for the EU as a whole was 7.5 percent - the lowest since November 2008, Eurostat said.
Eurozone inflation is still low - ticking up to 1.5 in November compared with the ECB's target of just under 2.0 percent - and ECB bank chief Mario Draghi has reassured investors the era of ECB stimulus is not yet over. It was slightly lower than analyst expectations of 1.6 percent for the period.
The ECB has taken extraordinary measures to push up growth and inflation in the eurozone in recent years, setting interest rates at historic lows, offering cheap loans for banks and buying up billions of euros of government and corporate bonds each month.
But as the eurozone economy has picked up, calls have grown for the ECB to begin unwinding its ultra-loose monetary policies, as the Federal Reserve is doing in the United States. The Frankfurt-based bank edged in that direction last month, announcing it would halve its monthly asset purchases to 30 billion euros from January.

Comments

Comments are closed.