German Outlook Positive; Italian Current Account Deficit Widens

Arthi Gupta
18 Apr, 2011
New York City

Greece reiterated that the nation has no plans to restructure its debt. The Bundesbank forecasted positive economic growth in Germany. Finnish producer price inflation soared in March. Italian current account deficit widened to

[R]1:45 PM Frankfurt – Greece reiterated that the nation has no plans to restructure its debt. The Bundesbank forecasted positive economic growth in Germany. Finnish producer price inflation soared in March. Italian current account deficit widened to €6.33 billion in February.[/R]

Greece Denies Debt Restructuring Reports

Greece denied press reports that the government asked the International Monetary Fund and the European Union to consider restructuring its debt. Earlier, euro-zone officials had also reportedly denied such news.

Greece’s finance minister George Papaconstantinou told media on Saturday that the country has no plans to restructure its debt.

Bundesbank Forecasts Positive Economic Activity

The positive underlying economic trend in Germany will continue in the second quarter, the Bundesbank said in its monthly report on Monday.

Robust order growth underpinned by both domestic and foreign market will help to raise industrial output and the impact from the disasters in Japan will be limited, the bank said.

Finnish Producer Price Inflation Soars

Factory price inflation in Finland rose to a three-month high of 7.8% in March from 7% in February, Statistics Finland said on Monday.

On a monthly basis, producer prices increased 1.1% in the manufacturing sector and prices for the domestic market rose 1%.

The rise in the producer prices for manufactured products was driven by increased prices of oil products and metals, the statistics office said.

Italian Current Account Deficit Widens

Italy''s current account deficit widened to €6.33 billion in February from €5.16 billion in the same period of previous year, the Bank of Italy said today.

The trade in goods showed a deficit of €2.69 billion compared to the €2.12 billion shortfall in the prior year. The deficit in services account widened to €1.43 billion from €1.34 billion.