French Sentiment Drops; German Economic Outlook Weakens

Arthi Gupta
23 Jan, 2012
New York City

French business sentiment weakened in January. German economic growth at a standstill and Spanish economy contracted in the fourth quarter. Swiss money supply growth increased in December.

[R]2:30 PM Frankfurt – French business sentiment weakened in January. German economic growth at a standstill and Spanish economy contracted in the fourth quarter. Swiss money supply growth increased in December.[/R]

French Sentiment Weakens

France''s industrial confidence index in the manufacturing sector dropped to 91 in January from 94 in December, data from a survey by statistics office Insee showed today. The confidence index was at its low in the last 21 months.

Danish Consumer Sentiment Strengthens

Danish consumer confidence index rose to -7 in January from -9.8 in December, data released by Statistics Denmark showed.

The indicator of consumers'' perceptions of Denmark''s present economic condition compared to a year earlier increased to -26.2 in January from -27.2 in December.

German Economic Outlook Weakens

The German economy is likely to show no growth in the first quarter of 2012, the Bundesbank said in its monthly report for January on Monday.

The economic growth is likely to have come to a standstill in the fourth quarter, according to the Bundesbank.

Spanish Economy Contracts

The Spanish economy contracted 0.3% from a quarter ago in the fourth quarter, the latest estimates from the Bank of Spain showed today. However the economy expanded 0.7% in the year 2011, the central bank said.

The bank forecasts the economy to contract 1.5% this year, before growing 0.2% in 2013.

Swiss Money Supply Growth Climbs

Switzerland''s money supply growth increased in December, data from the Swiss National Bank showed.

M3, the broad measure of money supply, climbed 7.7% in December from a year ago after rising 7.3% in November.

Iceland’s Wage Growth Up

Iceland''s wage cost increased 9.2% annually in December compared to the 9% growth in November, Statistics Iceland said today. On a monthly basis, the growth remained stable at 0.3% in December.