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Eurozone industrial output falls in December

Eurozone industrial output fell more than expected in December after a sharp upturn in November had encouraged hopes a modest economic recovery was gaining momentum, official figures showed on Wednesday. Industrial output in the then 17-nation eurozone fell 0.7 percent in December compared with November, when it rose a revised 1.6 percent, the Eurostat Statistics office said. November was first given as an increase of 1.8 percent. Analysts polled by Dow Jones Newswires had expected a December downturn of about 0.3 percent.

Eurozone business activity best since June 2011

Eurozone private sector business activity in January showed the best performance since June 2011, fresh evidence that a modest recovery is gaining traction, a key survey showed on Wednesday. Markit Economics said its Eurozone Composite Purchasing Managers Index (PMI) for January rose to 52.9 points from 52.1 in December, the seventh monthly rise in a row. While this was down from the initial January reading of 53.2, it still represented the fastest rate of growth since June 2011, Markit said.

Eurozone manufacturing hits 32-month high

Eurozone manufacturing activity hit a 32-month high in January, driven by economic powerhouse Germany and helped as struggling France finally picked up, a key survey showed on Monday. The Markit Economics eurozone manufacturing sector Purchasing Managers Index, a leading indicator of growth, rose to 54 points in January from 52.7 in December, moving further into positive territory above the 50-points boom-or-bust line. Markit said the expansion in January was the strongest since May 2011, with the headline figure rising in each of the last four months.

Euro zone deficit shrinks to almost within EU limit in Q3

BRUSSELS (Reuters) - The euro zone's government deficit shrank for the third consecutive quarter in the three months to last September to near the European Union's official limit of 3 percent of economic output, Eurostat data showed on Monday. The seasonally adjusted government gap fell to 3.1 percent of gross domestic product (GDP) in the third quarter of last year from 3.3 percent in the previous period and down from 3.4 percent in the first quarter of 2013.

Eurozone December unemployment steady at 12.0%

The eurozone unemployment rate stayed near record highs at 12.0 percent in December but unchanged from a revised November figure, as the fragile recovery produced few new jobs, official data showed on Friday. There were about 19.10 million jobless in the eurozone in December, down 129,000 from November 2013 but up 130,000 from December 2012 when the debt crisis was at its peak, the Eurostat statistics agency said. The agency said the figure for November had been revised down from 12.1 percent to 12.0 percent.

Eurozone December unemployment steady at 12.0%

The eurozone unemployment rate stayed near record highs at 12.0 percent in December but unchanged from a revised November figure, as the fragile recovery produced few new jobs, official data showed on Friday. There were about 19.10 million jobless in the eurozone in December, down 129,000 from November 2013 but up 130,000 from December 2012 when the debt crisis was at its peak, the Eurostat statistics agency said. dk/ccr/hd

Euro zone may scrap option of direct bank recapitalization in 10 years

By Martin Santa and Jan Strupczewski BRUSSELS (Reuters) - Euro zone governments are considering inserting a "review clause" into their agreement on the direct recapitalization of banks so that they can reverse or renegotiate the deal in the coming years, officials have told Reuters. Under the proposal, governments would be able to review direct recapitalization - one of the most hard-fought-over principles of the debt crisis - after 10 years, once a single euro zone bank resolution fund (SRF) is in place.

Europe now an 'emerging country', Davos hears

Top bosses and economists warned the global elite on Wednesday not to get over-excited by a gradual economic upturn in Europe, which one chief executive branded an "emerging country." While the mood of impending doom surrounding the eurozone that stalked Davos at the height of the crisis has abated, staggering rates of youth unemployment and sluggish growth are still battering Europe, delegates heard. Christophe de Margerie, head of French energy giant Total, said: "Don't take it as being provocative (but) I think Europe should be reclassified as an emerging country."

ECB to simplify European bad loan definition in health check

FRANKFURT (Reuters) - The ECB is set to allow the euro zone's top banks to meet less stringent definitions for bad loans than previously planned when it makes an unprecedented review of lenders' balance sheets this year. The 128 lenders under scrutiny by the European Central Bank were allowed to apply the softer "simplified definitions" for bad loans in their first data submissions for the asset quality review (AQR).

Eurozone industrial output rebounds in November

Eurozone industrial output rebounded sharply in November, offering some reassurance that a modest recovery remains on track after heavy falls in October, official data showed on Tuesday. Industrial output in the then 17-nation eurozone jumped 1.8 percent in November after a fall of 0.8 percent in October, the Eurostat statistics office said. In the full 28-member European Union, industrial production gained 1.5 percent after dropping 0.5 percent in October, it said.
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