German Confidence Improves; Spanish Home Mortgages Slump

Arthi Gupta
23 Feb, 2012
New York City

German business confidence improved more than estimated in February. Spanish home mortgages slumped and consumer spending in the Netherlands eased in December.

[R]2:15 PM Frankfurt – German business confidence improved more than estimated in February. Spanish home mortgages slumped and consumer spending in the Netherlands eased in December.[/R]

German Confidence Improves

German business sentiment improved more than estimated in February, according to a survey from the Munich-based Ifo institute.

The confidence index rose to 109.6 in February from 108.3 in January. The current conditions index climbed to 117.5 in February from 116.3 in January.

Separately, Germany''s leading economic indicator rose to 103.9 in December from 103.6 in November, data from a survey by Conference Board showed.

The coincident economic index, which measures the current situation, dropped to 106.3 in December from 106.5 in November.

Italian Consumer Sentiment Rises

Italy''s consumer confidence index increased to 94.2 in February from 91.8 in January, data released by statistics office Istat showed.

The current conditions sub-index dropped to 100.3 in February from 102.3 in January, while the indicator that measures households'' perceptions of their personal financial situation dipped to 97.5 in February from 97.9 January.

Swedish Sentiment Up

Sweden''s economic confidence index rose to 93 in February from 91.6 in January, data released by the National Institute of Economic Research showed.

The consumer confidence index dropped to -3.2 in February from -1.3 in January.

Spanish Home Mortgages Slump

The number of home mortgages in Spain fell 37.2% on an annual basis to 24,610 in December, data released by statistics office INE showed today. The value of capital loaned for home purchase dropped 43.3% annually in December.

Dutch Consumer Spending Slows, Producer Confidence Drops

Consumer spending in the Netherlands dropped a holiday-adjusted 1.3% on an annual basis in December compared to the 1.5% fall in November, data released by the Central Bureau of Statistics showed.

Separately, the agency said confidence among Danish manufacturers declined with the relevant index falling to -1.5 in February from -1.4 in January. The sub-indicator of expected production in the sector fell to -5.3 in February from -2.5 in January, while the measure of new order position rose to -1.6 in February from -2.6 in January.