Eurozone GDP growth ticks up to 0.6% in Q2; euro steady

Eurozone unemployment rate dropped to 9.1% in June

Growth of consumer price in the euro zone was recorded at 1.3 per cent, which is enough to argue that risk of deflation has disappeared but it is too little to meet Draghi's goal of just under 2 per cent.

It intends to begin the process in the autumn, although inflation remains low at 1.3%, well under the 2% target for the eurozone.

The ECB wants inflation to be close to 2 per cent, a level it estimates is healthiest for the economy.

In the United Kingdom by contrast, the latest official figures released last week showed the economy grew by just 0.3% in the second quarter of 2017 following 0.2% expansion in the first three months of the year.

Here's Why Apple Remove Some Apps from China Store
Apple's China revenues have stalled, falling for a fifth straight quarter in January-March, when sales grew in every other region. Apple was between a rock and a hard place - it can't abandon the Chinese market, but it also can't abandon its customers.

Further, the German manufacturing sector posted solid growth in July, albeit at a slightly slower rate than in June as new orders came in more slowly, a survey showed on Tuesday.

The updated manufacturing PMI from Markit showed a modest positive surprise when released this morning, rising to 55.1 from 54.2. The fall was greater than expected according to economists' consensus expectations. UniCredit on Thursday raised its forecast for the euro-dollar rate to $1.20 for the end of the year and an "equilibrium" rate of $1.25 for end-2018, from $1.14 and $1.18 respectively before.

Among the clearest signs of a rebound has been the euro's pick-up to around $1.17, from $1.05 at the start of the year. Despite the still below target inflation, the general improvement in economic conditions and slightly less dovish comments from Mario Draghi means we think there is a reasonable chance the European Central Bank could announce a winding down of its QE programme when it next meets in September.

Moreover, this was the weakest rate since February 2009, when it marked 9.0 percent. The auto industry has rebounded, with June registrations across the wider European Union close to those of June 2007, before the global financial crisis.

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