FILE PHOTO: A worker at the Liebherr manufacturing company, which produces gear cutting tools, wears gloves as he works in the factory a day after its re-opened, as Italy begins a staged end to a nationwide lockdown due to a spread of the coronavirus disease (COVID-19), in Collegno, Italy, May 5, 2020. REUTERS/Massimo Pinca/File PhotoReuters
BRUSSELS (Reuters) – Euro zone producer prices rose more than expected month-on-month in October and unemployment fell as the economy continued to recover before the second wave of the COVID-19 pandemic struck, data showed on Wednesday.
The European Union’s statistics office Eurostat said prices at factory gates in the 19 countries sharing the euro rose 0.4% month-on-month for a 2.0% year-on-year decline. Economists polled by Reuters had expected a 0.2% monthly increase and a 2.4% annual fall.
Producer prices are an early indication of final prices paid by consumers, which the European Central Bank