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| Eurozone unemployment falls for first time since 2011 | Eurozone unemployment falls for first time since 2011 |
| (about 2 hours later) | |
| The eurozone's unemployment rate has fallen for the first time since early 2011, according to official data. | The eurozone's unemployment rate has fallen for the first time since early 2011, according to official data. |
| The jobless rate across the 17 countries using the euro currency fell to 12.1% in October, the first fall since February 2011, the European Union's statistics office Eurostat said. | The jobless rate across the 17 countries using the euro currency fell to 12.1% in October, the first fall since February 2011, the European Union's statistics office Eurostat said. |
| About 19 million people are out of work across the region. | About 19 million people are out of work across the region. |
| Meanwhile, the annual rate of consumer inflation rose from 0.7% to 0.9%. | Meanwhile, the annual rate of consumer inflation rose from 0.7% to 0.9%. |
| The European Central Bank (ECB) aims to keep inflation just below 2% - the level it deems right for growth. | The European Central Bank (ECB) aims to keep inflation just below 2% - the level it deems right for growth. |
| The data indicates that the fragile eurozone economy may be gradually improving, although there are big disparities between individual countries. | The data indicates that the fragile eurozone economy may be gradually improving, although there are big disparities between individual countries. |
| The unemployment rate in Spain and Greece is about 27%, for example, while Austria's is 5%. | The unemployment rate in Spain and Greece is about 27%, for example, while Austria's is 5%. |
| Anaemic growth | Anaemic growth |
| In a surprise move earlier this month, the ECB cut its benchmark interest rate from 0.5% to a record low of 0.25%. | In a surprise move earlier this month, the ECB cut its benchmark interest rate from 0.5% to a record low of 0.25%. |
| ECB president Mario Draghi said the decision reflected its view that low inflation and weak economic growth would be the dominant story in the region. | ECB president Mario Draghi said the decision reflected its view that low inflation and weak economic growth would be the dominant story in the region. |
| When eurozone inflation fell to 0.7% in October - its lowest level since January 2010 - there were fears that growth could be stalling and that some countries could even be moving into deflation. | When eurozone inflation fell to 0.7% in October - its lowest level since January 2010 - there were fears that growth could be stalling and that some countries could even be moving into deflation. |
| This latest rise in inflation has led some economists to think the ECB will not have reduce interest rates further in the near future. | This latest rise in inflation has led some economists to think the ECB will not have reduce interest rates further in the near future. |
| Frederik Ducrozet, an economist at Credit Agricole bank, said that it "should buy the ECB more time to decide whether or not to provide more accommodation". | |
| But the eurozone economy remains anaemic, growing 0.3% in the second quarter and just 0.1% in the third. The European Commission has forecast growth of 1.1% for 2014 and 1.7% for 2015. | But the eurozone economy remains anaemic, growing 0.3% in the second quarter and just 0.1% in the third. The European Commission has forecast growth of 1.1% for 2014 and 1.7% for 2015. |