Mumbai, Nov. 12 -- European Central Bank or ECB stated in a latest monthly update that the incoming data suggest that the euro area economy continued to expand in the third quarter of the year. Services have recovered, after weakening at the start of the Middle East conflict. Manufacturing, digital services and exports are benefiting from business investment related to artificial intelligence (AI). Government spending on infrastructure and defence is also supporting activity. These factors should continue to underpin growth in the near term. At the same time, renewed energy price increases have hit consumer confidence, and higher financing costs are likely to weigh on growth.
ECB noted that the unemployment rate remained at 6.4% in August....