Euro Area Confidence Improves; French Deficit Narrows

Arthi Gupta
09 Jan, 2012
New York City

Euro area investor confidence improved in January after weakening for five months in a row. The French trade deficit narrowed and German industrial output dropped in November. Swiss jobless rate increased in December.

[R]1:50 PM Frankfurt – Euro area investor confidence improved in January after weakening for five months in a row. The French trade deficit narrowed and German industrial output dropped in November. Swiss jobless rate increased in December.[/R]

Euro-zone Confidence Improves

Euro-zone investor confidence improved in January after weakening for five months in a row, results of a survey by Sentix showed. The confidence index was at -21.1 in January compared to -24 in December.

The current assessment index fell to -18.8 in January from -17.3 in December. The expectations index climbed to -23.5 in January from -30.5 a month ago.

French Deficit Narrows

The French trade deficit narrowed to €4.41 billion in November from the revised €5.57 billion in October, data from the customs office showed today.

Exports rose to €37.43 billion in November from €36.23 billion in October. Imports climbed to €41.84 billion in November from €41.81 billion in the previous month.

German Surplus Improves, Output Falls

Germany''s trade surplus increased in November as exports logged a better-than-expected growth, the Federal Statistics Office said today.

The foreign trade surplus increased to €16.2 billion in November from €11.5 billion in the prior month. The current account surplus rose to €14.3 billion in November from €10 billion in October.

Exports grew 2.5% from a month ago in November, reversing the 2.9% decrease in October. Imports dropped 0.4% in November, following a 0.1% rise in October.

On a yearly basis, exports rose 8.3% in November, faster than the 3.9% expansion in October. The annual increase in imports eased to 6.7% in November from 8.9% in October.

Separately, German industrial output dropped 0.6% from a month ago in November, after rising 0.8% in October data from the Federal Statistics Office showed.

Hungary Surplus Drops

Hungary''s merchandise trade surplus for November declined to €666 million, from €769 million in the same month last year data from the Central Statistics Office showed.

Exports increased 3.9% from a year ago, while imports rose 6% in November.

Portugal Deficit Narrows

Portugal''s trade deficit narrowed to €3.11 billion during September to November, according to data from Statistics Portugal released today. During the same period of last year, the deficit was €5.15 billion.

Greece Output Slows

Greece''s industrial production fell 7.8% from a year ago in November, after falling 13.5% in October, data from the Hellenic Statistics Authority showed.

On a monthly basis, production grew 4.1% in November, after a 14.4% slump in October.

Swiss Retail Sales, Jobless Rate Rise

Swiss retail sales increased by a real 1.8% in November from the prior year, the Federal Statistics Office said today.

Excluding fuel, retail sales logged a real growth of 1.8% on a yearly basis. Food, beverages and tobacco sales climbed 1% and non-food sales rose 2.2% in November.

In another report, Switzerland''s unemployment rate increased in December, data from the State Secretariat for Economic Affairs showed.

The jobless rate rose to a seasonally adjusted 3.1% in December from 3% in November. The number of registered job seekers increased 8,025 from a month ago to 185,706 in December.