- Pierre Moscovici, Commissioner for Economic and Financial Affairs, Taxation and Customs
The number of registered unemployed in Spain declined more than expected in April, according to the Spanish Employment Ministry. The number of unemployed fell by 118,900 last month, following a drop by 60,2000 in March and overshooting economists' expectations for a 65,100 decrease. Yet, the nation's jobless rate remains at unhealthy high level of 23.78% in the first quarter of 2015, compared with 23.70% recorded in the previous three-month period. The International Monetary Fund expects the Spanish economy to grow 2.5% this year and 2% in 2016. Meanwhile, a separate report showed industrial producer prices in the Euro zone, a bellwether for the closely watched consumer prices, fell again in March, with the gauge booking its 20th consecutive month in contraction on an annual basis, Eurostat reported. Measured on an annual basis, the Producer Price Index declined 2.3% in March, following February's 2.8% decrease. Yet, on a monthly basis the gauge rose 0.2% against the expected 0.3% uptick. The Euro zone consumer price inflation in April rebounded from negative territory, where it spent four months in a row and posted zero growth, adding to signs that deflationary worries in the currency bloc are easing. On top of that, the European Commission expect that Euro zone economic growth will be 1.5%, stronger than previously estimated this year thanks to cheaper oil, a weaker euro, stable global growth and supportive fiscal and monetary policies.
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