Economic Essentials: Eurozone data disappoints

  • Eurostat figures were below market expectations as they revealed that output at factories in the euro zone rose 0.6 per cent in September, production of durable consumer goods fell 2.6 per cent. 
  • The Bank of England has said inflation in the UK could fall below 1 per cent in the next 6 months; despite target rate of 2 per cent. 
  • India's industrial production rose by 2.5 per cent in September versus 0.5 per cent in August; retail inflation fell to 5.52 per cent in October versus 6.46 per cent in September. 
  • OPEC has forecast that demand for it's oil will drop in 2015; cartel will meet in Vienna on November 27th to discuss whether to cut output in light of declining prices (Reuters).