French Industrial Output Increases; Norwegian Inflation Declines

Arthi Gupta
11 Jul, 2011
New York City

The OECD leading index fell in May. French industrial production expanded and Greek industrial output rebounded in May. Denmark surplus rose and Estonia''s trade deficit narrowed to

[R]3:00 PM Frankfurt – The OECD leading index fell in May. French industrial production expanded and Greek industrial output rebounded in May. Denmark surplus rose and Estonia''s trade deficit narrowed to €24.4 million. Romania’s inflation eased in June.[/R]

OECD Leading Index Falls

The composite leading indicator for the Organization for Economic Cooperation and Development area dropped 0.2% to 102.5 in May from 102.8 in April, latest data showed. Compared to May last year, the CLI increased 0.8%, the agency said.

The index for the euro area dropped 0.5% to 102.1.

French Industrial Production Grows

French industrial production increased 2% on a monthly basis in May reversing the 0.5% fall in April, data from the statistics office Insee showed.

On a yearly basis, industrial output growth remained stable at 2.6% in May.

Growth in manufacturing output surged to 1.5% in May from 0.1% in April. From a year ago, manufacturing output rose more than estimated to 5.4% in May from 4.2% in April.

Greece Industrial Output Rebounds

Greece industrial production climbed 6.5% in May following a 7.2% fall in April, the Hellenic Statistics Authority said today.

Mining and quarrying production fell 1.4% annually and manufacturing output declined 10.8% in May.

Denmark Surplus Rises

The surplus on Danish current account totaled DKK 9.3 billion in May, DKK 0.8 billion higher than in April, Statistics Denmark said on Monday.

It was also larger than the DKK 5.7 billion surplus seen in May a year ago.

Separately, export of goods advanced by a seasonally adjusted 3.5% in May from April and imports rose 5.2%, the statistics office said.

Estonia Deficit Narrows

Estonia''s trade deficit narrowed to €24.4 million in May from €62.1 million in April as exports rose faster than imports, data released by Statistics Estonia showed on Monday. The trade deficit was the lowest since January this year, the agency said.

Exports climbed 53% and imports advanced 44% at current prices in May 2011 compared to the same month of the previous year.

Romania Inflation Eases

Romania''s consumer price index increased 7.93% from a year ago in June compared to the 8.4% increase in May, data released by the National Institute of Statistics showed on Monday.

Prices of food products advanced 9.81% and prices of non-food products rose 7.74% in June.

On a monthly basis, consumer prices decreased 0.29% in June, reversing the 0.2% rise in May.

Danish Inflation Slackens

Inflation in Denmark eased to 3% in June from 3.1% in May, according to data from Statistics Denmark released today.

Prices of food and non-alcoholic beverages climbed 5.4% annually in June compared to the 4.6% rise in May.

On a monthly basis, CPI declined 0.2% in June.

Norwegian Inflation Declines

Norwegian annual inflation declined to 1.3% in June from 1.6% in May, Statistics Norway showed on Monday.

On a monthly comparison, consumer prices fell 0.4% in June driven by price falls in electricity and clothing.

Austria New Vehicle Registrations Up

New vehicle registrations in Austria increased a working-day adjusted 19.7% from a year ago to 42,083 units in June, according to data released by Statistics Austria today.

Sales of lorries climbed 6.5% but sales of agricultural and forestry tractors fell 25.6% in June.