ENP Newswire -
Release date- 03072014 -
US jobs rise more than forecast in June - ECB keeps policy unchanged - Eurozone retail sales gain - Eurozone Composite PMI unrevised
US non-farm payrolls increased 288,000 in June, compared to 224,000 jobs a month earlier, beating the consensus of 215,000. 'The evident strength of the labour market in June is one of the key reasons why we think that the Fed will be persuaded to begin raising interest rates earlier than most expect,' according to Capital Economics.
'The unemployment rate hit a near six-year low of 6.1% last month and the average pace of job gains has accelerated to the fastest average seen in this recovery.' Another jobs report in the world's biggest economy, however, showed initial jobless claims ticked up last week, but continued to show a broad improvement in the labour market. The number of Americans filing for unemployment benefits rose 2,000 to 315,000 in the week ended
The consensus estimate was for a reading of 313,000, while the previous week was revised up by 1,000 to 313,000. ECB maintains policy The ECB decided to keep its policy unchanged, as expected by analysts.
The ECB left interest rates at a record low of 0.15% after cutting it last month to address weak inflation. The monetary authority also maintained the deposit rate at -0.10% after taking it into negative territory for the first time in the history of any major central bank at its last meeting. Speaking at a press conference after the announcement, ECB President
Economists had expected a gain of 1.8%.
A final report from
A reading above 50 signals expansion.
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