Euro-zone Production Accelerates; Inflation in Germany, France Soar

Arthi Gupta
13 Apr, 2011
New York City

Euro-zone industrial output accelerated 7.3% in February. French annual inflation soared and German wholesale price inflation increased for the second consecutive month in March. Spain

[R]1:30 PM Frankfurt – Euro-zone industrial output accelerated 7.3% in February. French annual inflation soared and German wholesale price inflation increased for the second consecutive month in March. Spain’s leading index rose in February.[/R]

Euro-zone Industrial Production Accelerates

Euro-zone industrial production rose 0.4% on a monthly basis in February, slightly faster than the revised 0.2% increase in January, the Eurostat said today. The initial estimate showed a 0.3 increase for January.

On an annual basis, industrial production growth accelerated to 7.3% in February from a revised 6.3% in January. The earlier estimate for January showed a 6.6% rise.

Production in European Union member states rose 7% annually and edged higher 0.2% on a monthly basis.

French Annual Inflation Soars

French inflation quickened more than expected in March, driven by strong price increases in petroleum products and food stuff, latest data from the country''s statistics office showed.

Inflation, as measured by the consumer price index rose to 2% in March from 1.7% in February. The CPI increased 0.8% on a monthly basis after recording an increase of 0.5% in February.

German WPI Up

German wholesale price inflation increased for the second consecutive month in March to the highest since October 1981, according to official data released today.

Wholesale price inflation rose unexpectedly to 10.9% annually in March from 10.8% last month, data from the Federal Statistics Office showed.

However, on a monthly comparison, wholesale price inflation slowed slightly to 1.3% in March from 1.4% in February.

Swiss Producer and Import Price Index Climbs

Switzerland''s producer and import price index advanced 0.4% annually in March after a 0.5% increase in February, the Federal Statistics Office said on Wednesday.

On a monthly basis, the index rose 0.4% in March compared to 0.2% in February.

Spanish Leading Index Rises

Spain''s leading index rose 0.1% on a monthly basis in February, after a sharp 0.9% rise in January, the Conference Board said on Wednesday.

The coincident economic index, a measure of current economic activity, also increased in February 0.1%, the same rate of growth as in January.

Czech Current Account Swings to Surplus

Czech current account moved to surplus in February, owing to surpluses on the balance of goods and services and the balance of current transfers, Czech National Bank said Wednesday.

The surplus amounted to CZK 15.9 billion in February compared to CZK 307.1 million deficit in January. Goods account was in a surplus of CZK 8.36 billion, higher than CZK 7.3 billion in the previous month.

Romania Current Account Deficit Narrows

Romania''s current account deficit for the January-February period narrowed from last year due to the decline in trade deficit and the increase in current transfers surplus, the central bank said on Wednesday.

The trade deficit declined to €175 million from €814 million. Current transfers surplus rose to €534 million from €333 million.

Greece Import Price Index Accelerates

Greek import price index rose 7.6% annually as against January''s 6.1% increase, data released by the Hellenic Statistics Authority showed today.

On a monthly basis, import prices increased 1.9% in February, following the 1.9% rise in January.