European Central Bank

European economic data will be closely watched this week

Jean-Claude Juncker, president of the European Commission
Jean-Claude Juncker, president of the European Commission. Photo: Michael Brochstein/SOPA Images/LightRocket via Getty Images

With the eurozone on the brink of recession and its economic engine, Germany, likely already in one, data this week out of Europe will be closely watched.

Why it matters: This week will bring the release of German factory orders and industrial production data as well as the European Commission's forecasts for eurozone growth.

ECB head Mario Draghi is saved by the bell

Illustration: Aïda Amer/Axios

The eurozone is an escalating mess and European Central Bank president Mario Draghi is getting out right at the buzzer.

Driving the news: Draghi delivered his final press conference as head of the ECB on Thursday, keeping rates in the 19-member bloc unchanged following the controversial announcement of an interest rate cut to -0.5% and a $22 billion a month bond-buying program at September's meeting.