OECD Leading Index Declines; Euro-zone Output Eases

Arthi Gupta
14 Nov, 2011
New York City

The OECD leading index declined, industrial production in the euro area eased, but German factory employment rose in September. Estonian jobless rate fell and Portugal

[R]1:30 PM Frankfurt – The OECD leading index declined, industrial production in the euro area eased, but German factory employment rose in September. Estonian jobless rate fell and Portugal’s economy contracted in the third quarter. The Swiss producer and import price index slid in October.[/R]

OECD Leading Index Declines

The leading index for the Organization for Economic Cooperation and Development dropped 0.4% to 100.4 in September from 100.9 in August, which was revised up from 100.8. Compared to September 2010, the index declined 1.3%.

Germany recorded the fastest monthly fall with a 1.3% decline.

Euro-zone Output Eases

Industrial production in the euro area increased 2.2% from a year ago in September as against the 6% growth in August, data released by statistics office Eurostat showed today.

In EU27, production grew 2.2% in September, slower than the 4.8% growth recorded in August.

On a monthly basis, industrial output decreased 0.2% in September, reversing the 1.4% increase in August.

In EU27, production fell 1.3% on a monthly basis in September, after rising 1% in August.

German Factory Employment Up

The number of employees in the manufacturing sector grew in September to just under 5.2 million, 3.6% increase compared to September last year, the Federal Statistics Office said.

Estonian Jobless Rate Drops

Estonia''s unemployment rate decreased to 10.9% in the third quarter from 13.3% in the second quarter, data released by Statistics Estonia showed. In the third quarter of 2010, the jobless rate was 15.5%.

The number of unemployed decreased to 77,000 in the third quarter from around 92,100 in the previous quarter.

The number of long-term unemployed, those who are jobless for one year or more, was about 44,000 during the quarter.

Swiss Producer & Import Price Index Slides

Swiss producer and import prices declined in October, the Federal Statistics Office said.

From a year ago, the index fell 1.8% and compared to the previous month, the index dropped 0.2% in October.

Portugal’s Economy Shrinks

Portugal’s economy remained in recession in the third quarter, flash estimate from Statistics Portugal showed on Monday.

The gross domestic product fell 0.4% on a quarterly basis in the third quarter, following a revised 0.1% contraction in the second quarter. The economy has now contracted for a fourth quarter in a row.

Bulgarian Inflation Increases

Bulgaria''s consumer price index increased 3.5% on an annual basis in October, faster than the 3.3% growth in September.

Price of food and non-alcoholic beverages climbed 5.3% from a year ago, while clothing and footwear prices rose 3% in October.

On a monthly basis, consumer prices gained 0.8% in October, after remaining flat in September.