Economic Schedule for the Eurozone

Eurozone Economic Indicators and ECB Members Update

The Eurozone economy is closely monitored through various key indicators, and the latest data releases offer insights into the current state of the manufacturing, services, and overall economy.

The Manufacturing Purchasing Managers Index (PMI) and the Services PMI, both released by S&P Global and Hamburg Commercial Bank (HCOB), provide a snapshot of business activity in the Eurozone's manufacturing and services sectors, respectively. The Composite Purchasing Managers' Index (PMI), which combines both indices, gives a comprehensive view of the private-business activity in the Eurozone for both sectors.

The Harmonized Index of Consumer Prices (HICP) and the Core HICP, released by Eurostat, measure changes in the prices of a representative basket of goods and services in the European Monetary Union. These indices help gauge inflationary pressures within the Eurozone.

The Unemployment Rate, also released by Eurostat, represents the percentage of unemployed workers in the total civilian labour force. The Employment Change for Q2, another Eurostat release, provides a measure of the change in the number of people employed in the Eurozone.

The Gross Domestic Product (GDP) for Q2, another important indicator, is a measure of the total value of all goods and services produced in the Eurozone during a certain period of time. The Retail Sales data for July, released by Eurostat, measures the volume of retail sales in the Eurozone.

The European Central Bank (ECB) is at the forefront of monetary policy decisions in the Eurozone. Christine Lagarde, the ECB President, began her eight-year term at the helm of the ECB in November 2019. She is supported by the ECB's executive board, which includes Isabel Schnabel, Joachim Nagel, Frank Elderson, and Piero Cipollone, who joined the board in January 2020, January 2022, November 2020, and November 2023, respectively.

Christine Lagarde holds press conferences to detail how the ECB observes the current and future state of the European economy. The weekly Commitments of Traders (COT) report, which provides information on the size and the direction of the positions taken, across all maturities, participants primarily based in Chicago and New York futures markets, also plays a role in the ECB's decision-making process.

The Producer Price Index (PPI) for July, released by Eurostat, measures the change in prices received by domestic producers of commodities in all stages of processing. This index helps in understanding the pressures on the production costs within the Eurozone.

As the Eurozone economy continues to evolve, these indicators will remain crucial in understanding its current state and future prospects. The ECB and its executive board will closely monitor these indicators as they make decisions to maintain price stability and promote economic growth in the Eurozone.

Economic Schedule for the Eurozone