German Inflation at 2.5%; French Production Rebounds 0.3%

Arthi Gupta
09 Mar, 2012
New York City

German annual inflation increased but Greek inflation eased in February. German manufacturing index increased 0.4% in January. The Portuguese and Greek economy contracted in the fourth quarter. French production rose but Italian output and Spanish retail sales fell in January.

[R]2:30 PM Frankfurt – German annual inflation increased but Greek inflation eased in February. German manufacturing index increased 0.4% in January. The Portuguese and Greek economy contracted in the fourth quarter. French production rose but Italian output and Spanish retail sales fell in January.[/R]

German Factory Turnover Up

Germany''s factory turnover increased a seasonally and working-day adjusted 0.4% from a month ago in January, following a 1.4% drop in December, data from the Federal Statistics Office showed today.

From a year ago, factory turnover increased a working-day adjusted 0.4% in January.

Separately, Germany''s exports grew 2.3% on a monthly basis in January, following a 4.4% drop in December, data released by the Federal Statistics Office showed.

Imports rose 2.4% in January compared to the 3.9% decline in December.

The foreign trade surplus increased to €13.1 billion in January from €12.9 billion in December.

German Annual Inflation Increases

Germany''s harmonized index of consumer prices increased 2.5% annually in February, unrevised from the preliminary estimates, final data released by the Federal Statistics Office showed. In January, the HICP rose 2.3% annually.

From a month ago, the HICP increased an unrevised 0.9 % in February, the agency said.

Greek Inflation Eases

Greece''s consumer price index eased to 2.1% annually in February compared to the 2.3% gain in January, data from the Hellenic Statistics Authority showed.

From a month ago, prices fell 1.5% in February, following a 0.8% drop in January.

Separately, Greece''s economy contracted more than initially estimated in the fourth quarter, final data released by the Hellenic Statistics Authority showed today.

Unadjusted gross domestic product decreased 7.5% from a year ago in the fourth quarter, faster than the 7% decline estimated initially.

Portuguese GDP Shrinks

The Portuguese gross domestic product fell a seasonally adjusted 1.3% in the fourth quarter, compared to the 0.6% decline recorded in the third quarter, final data released by Statistics Portugal showed today.

From a year ago, the economy contracted a revised 2.8% in the fourth quarter compared to a revised 1.9% drop in the third quarter.

French Production Rebounds

Industrial output in France rose 0.3% from a month ago in January compared to the 1.3% decline in December, data released by Statistisl Office Insee showed today.

Italian Output Falls

Italy''s industrial output dropped 2.5% in January from the 1.2% growth in December, the statistics office Istat said.

Annually, production declined 5% in January, following a 1.8% fall in December.

Norwegian Inflation, Output Prices Climb

Norway''s consumer price index rose 1.2% from a year ago in February, data released by Statistics Norway showed.

Food and non-alcoholic beverages prices climbed 1.3% annually in February.

On a monthly basis, consumer prices rose 1% in February.

Separately, the agency said producer prices in Norway surged 7.6% annually in February, the largest contributors were extraction of oil and natural gas, refined petroleum products and food products, where prices rose 16.7%, 15.1% and 2.1% respectively.

From a month ago, output prices rose 1% in February.

Hungarian Surplus Drops

Hungary''s trade surplus fell to €423.5 million in January from €432.1 million recorded during the same month last year, the Hungarian Central Statistics Office said in a preliminary estimate released today.

Separately, the Hungarian economic growth remained flat at 1.4% on an annual basis in the fourth quarter, revised estimates from the Hungarian Central Statistics Office confirmed.

Spanish Retail Sales Slide

Spanish retail sales fell 4.8% in January from a year ago compared to the 6.4% decline in December, the statistics office INE said.

Food product sales dropped 1.3% annually in January and non-food sales slumped 7%.