German Production Declines; Italy, Spain Economy Expands

Arthi Gupta
05 Aug, 2011
New York City

Industrial production in the euro area was mixed with German output falling unexpectedly in June. French deficit narrowed in June. Swiss inflation eased and Greek inflation slackened in July. Italy''s gross domestic product expanded at 0.3% and Spanish economy eased in the second quarter.

[R]2:30 PM Frankfurt – Industrial production in the euro area was mixed with German output falling unexpectedly in June. French deficit narrowed in June. Swiss inflation eased and Greek inflation slackened in July. Italy''s gross domestic product expanded at 0.3% and Spanish economy eased in the second quarter.[/R]

German Industrial Output Declines

Germany industrial production declined unexpectedly in June, according to a report released by the Federal Ministry of Economy and Technology today.

Industrial output decreased 1.1% on a monthly basis in June, reversing the 0.9% rise in May.

The annual growth in industrial output slowed to a working-day adjusted 6.7% in June from 7.2% in May.

Spanish Industrial Production Falls

Industrial production in Spain after adjusting to seasonal and calendar variations declined 2% in June after remaining flat in May, data from the statistics office INE showed.

Hungary Industrial Production Eases

Hungary''s industrial production growth rose a working-day adjusted 1% in June from a year ago following the 2.3% growth in May, data released by the Central Statistics Office showed.

On a monthly basis, output declined a seasonally and working-day adjusted 0.6% in June compared to the 0.7% fall in production in May.

Dutch Industrial Output Rises

Dutch industrial production rose 2.4% from a year ago in June compared to the 2.5% rise in May, the Central Bureau of Statistics said on Friday.

Italy Industrial Production Climbs

Italy''s industrial output expanded at a slower pace in June, according to data from the statistics office Istat released today.

The calendar adjusted industrial production index rose 0.2% annually following an upwardly revised 2% rise in May.

French Deficit Narrows

The French trade deficit narrowed to €5.59 billion in June compared to the revised €6.42 billion shortfall in May, according to data from the customs office released today.

Exports in June eased slightly to €34.58 billion in June. Imports declined to €40.17 billion in June from €40.99 billion in May.

Swiss Inflation Eases

Swiss consumer prices rose 0.5% from a year ago in July after climbing 0.6% in June, the Federal Statistics Office said.

Consumer prices dropped 0.8% on a monthly basis in July. Food and non-alcoholic beverages prices declined 0.8% in July.

Greece Inflation Slackens

Greece''s consumer price index rose 2.4% from a year ago in July, after climbing 3.3% in June, data released by the Hellenic Statistics Authority showed. It was the lowest level since November 2009.

On a monthly basis, the CPI declined 1.4% in July.

Italy GDP Expands

The Italian gross domestic product rose 0.3% on a quarterly basis in the second quarter compared to a 0.1% rise in the previous quarter, latest data from the statistics office Istat showed.

From a year ago, GDP rose 0.8% in the second quarter slower than the 1% recorded in the first quarter.

Spanish Economy Grows

The Spanish economy grew 0.2% in the second quarter as against the 0.3% expansion in the first quarter, according to estimates published by the Bank of Spain.

From a year ago, the growth rate eased to 0.7% in the second quarter from 0.8% in the first quarter.