French Confidence Improves; Sweden Lowers Surplus Outlook

Arthi Gupta
25 Oct, 2011
New York City

Germany''s consumer confidence is set to rise in November. Consumer confidence in France improved in October. Hungary''s central bank left rate unchanged at 6%. Sweden lowered budget surplus outlook for this year and next.

[R]3:30 PM Frankfurt – Germany''s consumer confidence is set to rise in November. Consumer confidence in France improved in October. Hungary''s central bank left rate unchanged at 6%. Sweden lowered budget surplus outlook for this year and next.[/R]

German Sentiment to Rise

Germany''s consumer confidence is set to rise in November, according to a survey by GfK.

The forward looking consumer sentiment index rose unexpectedly to 5.3 for November from 5.2 in October, survey data showed.

French Confidence Improves

Consumer confidence in France improved in October, data released by statistics office Insee showed.

The consumer confidence index rose to 82 in October from 80 in September.

Italian Confidence Dampens

Italy''s consumer confidence index dropped to 92.9 in October from 94.2 in September, data released by statistics office Istat showed on Tuesday.

The overall economic climate indicator fell to 75.6 in October from 78.3 in September.

Hungary Holds Rate

Hungary''s central bank decided to keep its benchmark interest rate unchanged for the ninth time in a row.

The Magyar Nemzeti Bank left the two-week deposit rate at 6%.

Sweden Lowers Budget Surplus Outlook

The Swedish National Debt Office lowered its budget surplus forecasts for this year and next.

The agency reduced the projection for this year to SEK 69 billion from SEK 99 billion forecast in May, mainly due to lower tax revenues.

The forecast for 2012 was slashed to SEK 25 billion from SEK 68 billion, driven by a likely increase in expenditure on unemployment owing to weaker economy.

Polish Retail Sales, Sentiment Up

Poland''s retail sales increased 1.3% on a monthly basis in September, after rising 1.1% in August, data released by the Central Statistics Office showed.

Retail sales of food beverages and tobacco climbed 0.6% and sales of textiles, clothing and footwear edged higher 5.6% in September.

From a year ago, retail sales advanced 11.4% in September, faster than the 11.3% increase recorded in August.

Separately, the agency said Poland''s leading consumer confidence index improved to minus 26.6 in September from minus 28.9 in August. The indicator of current conditions rose to minus 21.5 in September from minus 25.1 in August.

Swedish PPI Falls

Sweden''s producer price index decreased 0.2% on an annual basis in September. Producer prices of consumer goods rose 3.4% annually, while prices of intermediate goods advanced 1.1% in September.

On a monthly basis, producer prices dropped 0.7% in September.

Spanish PPI Flat

Spain''s producer price inflation remained unchanged in September, data released by statistical office INE showed Tuesday. The producer price inflation remained unchanged at 7.1% in September.

Output prices of durable consumer goods rose 1.8% and non-durable consumer goods prices climbed 2.6% in September.

Producer prices edged up 0.2% on a monthly basis in September, from the 0.3% decrease recorded in August.