German Construction Orders Rise 8.6%; Dutch GDP Expands 2.5%

Arthi Gupta
24 Mar, 2011
New York City

Euro area consumer confidence dipped in March. French manufacturers'' confidence improved in March and German construction orders increased in January. Dutch GDP growth in the fourth quarter was revised higher to 2.5% from the previous estimate of 2.4% and 1.8% increase in the third quarter.

[R]2:00 PM Frankfurt – Euro area consumer confidence dipped in March. French manufacturers'' confidence improved in March and German construction orders increased in January. Dutch GDP growth in the fourth quarter was revised higher to 2.5% from the previous estimate of 2.4% and 1.8% increase in the third quarter.[/R]

Euro-zone Confidence Dips, Private Sector Activity Grows

Consumer confidence in the euro-zone has seen a modest deterioration in the month of March, the European Commission stated in a report on Wednesday.

The report showed that the flash estimate of the consumer confidence indicator for the euro area slipped to minus 10.6 in March from minus 10.0 in February.

Euro-zone economic activity expanded for the twentieth consecutive month in March, data from Markit Economics showed today. The Markit Flash Euro-zone Composite Output Index fell to 57.5 in March from 58.2 in February.

The Flash Purchasing Managers'' Index for manufacturing declined to 57.7 in March from 59 in February. The services PMI rose slightly to 56.9, the highest since August 2007, from 56.8 in February.

French Manufacturers'' Confidence Improves

French manufacturers'' sentiment indicator rose to 109 in March from 106 in February, survey data from the statistics office Insee showed.

French private sector activity rose to an eight-month high in March, driven by a sharp rise in new orders, survey data from Markit Economics showed on Thursday.

The flash composite output index rose to 59.6 in March from 59 in February.

The Services PMI increased to an eight-month high of 60.7 in March from 59.7 in February. The manufacturing PMI rose to a three-month high to 56.6 in March from 55.7 in February.

German Construction Orders Up, Private Sector Activity Drops

Germany''s construction orders in January increased from last year, data released by the Federal Statistical Office showed Thursday.

New orders in the country''s construction industry increased 8.6% annually in value term. Orders for building construction climbed 21.2% while orders in the civil engineering division declined 4.5%.

The number of persons working in the construction industry advanced 2% annually during the month to 687,000. The total turnover in the construction sector increased 29.2% to €3.7 billion during the month.

German private sector activity dropped to a three-month low of 60.6 in March from 60.9 in February, survey results from the Markit Economics showed on Thursday. The moderation in overall private sector output growth in March largely reflected a slower rise in manufacturing production, Markit said.

Manufacturing purchasing managers'' index eased to 60.9 in March from 62.7 in February. However, the services PMI climbed to a two-month high. It logged 60.1 in March, up from 58.6 in February.

Dutch GDP Expands

The Dutch economy expanded 2.5% in the fourth quarter from a year ago period, data from Statistics Netherlands showed on Thursday. The statistics office raised the fourth quarter growth figure from 2.4%. In the third quarter, economic growth was 1.8%.