German Wholesale Inflation Soars 5.7%; French Leading Index Falls

Arthi Gupta
20 Jan, 2012
New York City

German annual producer price inflation accelerated in December. French leading economic index declined and consumer spending in the Netherlands eased in November.

[R]2:00 PM Frankfurt – German annual producer price inflation accelerated in December. French leading economic index declined and consumer spending in the Netherlands eased in November.[/R]

German Annual PPI Soars

German producer price inflation accelerated to 5.7% in December from the preceding year, according to data released from the Federal Statistics Office today. A year before, the index had been up 1.6%.

On a monthly comparison, producer prices dropped 0.4% in December following a 0.1% rise in November.

French Leading Index Falls

France''s leading economic index dropped to 112.5 in November from 112.7 in October, data from a survey by the Conference Board showed.

The coincident economic index, which measures the current situation, fell to 104.7 in November from 104.6 in October.

Hungarian Gross Wages Up

Hungary''s average gross wages increased 6% on an annual basis in November, following the 6.1% rise in October, data released by the Central Statistics Office showed.

In the January-November period, gross wages climbed 4.7% in November from the corresponding period a year earlier.

Dutch Consumer Spending Slows

Consumer spending in the Netherlands decreased 1.2% on an annual basis in November, slower than the upwardly revised 1.7% fall recorded in October, data released by the Central Bureau of Statistics showed today.

Consumer spending on food, beverages and tobacco decreased 0.8% from a year ago in November, the agency said.

Italian Orders Drop

New orders received by Italian firms decreased 0.7% annually in November, data released by statistics office Istat showed. Orders in the domestic market dropped 3.1% from a year ago, while orders in the non-domestic market rose 3.5% in November.

On a monthly basis, new orders edged up a seasonally adjusted 0.1% in November.

Industrial turnover rose a calendar adjusted 0.2% in November. On a monthly basis, the seasonally adjusted turnover remained unchanged during the month.

Greek Deficit Narrows

Greece''s current account deficit narrowed 7.3% to €2.30 billion in November from €2.48 billion a year earlier, data released by the central bank showed.

The current transfers deficit widened to €136 million in November from €81.5 million last year.