Unemployment in the euro area unexpectedly declined to its lowest level in more than 3 years, signaling the region's recovery is gaining pace even as dark clouds from China draw on the horizon.
JAKARTA, Sept 1 Global economic growth is likely to be weaker than earlier expected, the head of the International Monetary Fund said on Tuesday, due to a slower recovery in advanced economies and a further slowdown in emerging nations.
LONDON/BEIJING China's giant manufacturing industry contracted while British and euro zone growth eased in August, rattling markets and reinforcing expectations interest rates may fall again or stay near zero for longer.
Oil prices continued on their roller coaster ride Tuesday, as weak Chinese manufacturing data sent prices lower. A 2% decline comes after prices soared higher to close Monday above $49 a barrel -- a nearly 30% rise in three days.
... * FTSEurofirst 300 drops 2.1 pct. * Basic resources stocks are top sectoral losers. * DAX underperforms despite stronger German data.