Money Minute Thursday 31 October: a big day for the eurozone

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Today is a busy day for economic data releases in the eurozone.

We get the latest on German retail sales, French inflation and Spanish GDP.
We also get the latest readings on several key measures for the eurozone region as a whole. The unemployment rate is expected to have remained at 7.4% in September. That might sound high compared to most other countries but it’s actually an 11-year low.
GDP growth is expected to come in at around 0.1% for the third quarter, reflecting relatively weak growth in most of the major economies, notably Germany. And inflation is expected to come in at around 1%, still well below the European Central Bank’s target rate.
Over in the US we have the usual weekly jobless claims data. We also get the latest monthly data on consumer spending and personal incomes. With consumer spending a vital driver of the US economy, investors will be watching these figures for any signs of weakness.

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