The euro area continued to recover in the third quarter, albeit barely. A report on Thursday showed that the eurozone economy grew just 0.1 percent after having grown 0.3 percent in the previous quarter.
Germany's economy grew 0.3 percent in the third quarter, down from 0.7 percent in the second quarter. France's economy lost its recovery momentum and joined Italy in contracting 0.1 percent in the third quarter.
Elsewhere in Europe, UK economic data on Thursday broke the recent positive trend. Retail sales fell 0.7 percent in October, reversing the 0.6 percent increase in September.
In the US, a report on Thursday showed that the trade deficit widened in September as exports fell 0.2 percent while imports rose 1.2 percent.
Nevertheless, markets were positive on Thursday as Federal Reserve chairman nominee Janet Yellen indicated that she is likely to maintain monetary stimulus.
“I consider it imperative that we do what we can to promote a very strong recovery,” she said in response to a question during testimony on Thursday to the Senate Banking Committee in Washington. “It’s important not to remove support, especially when the recovery is fragile and the tools available to monetary policy, should the economy falter, are limited given that short-term interest rates are at zero.”
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