Euro Area Manufacturing Shrinks; Danish Retail Sales Fall

Arthi Gupta
02 Apr, 2012
New York City

Jobless rate in the euro area climbed, Danish retail sales fell and Swiss retail turnover growth eased in February. Manufacturing output contracted across the euro-zone in March.

[R]4:30 PM Frankfurt – Jobless rate in the euro area climbed, Danish retail sales fell and Swiss retail turnover growth eased in February. Manufacturing output contracted across the euro-zone in March.[/R]

Euro-zone Jobless Rate Up

The seasonally adjusted jobless rate in the euro area rose to 10.8% in February from 10.7% in January, data from Eurostat showed today.

The rate was 10% in February 2011.

Compared with January, the number of unemployed increased by 162,000 in the euro area and for the year to the month the unemployment rose by 1.476 million.

In the wider region of EU27, the jobless rate was 10.2% in February compared with 10.1% in January.

The unemployment rate of 23.6% was the highest in Spain in the region.

Italian Unemployment Rate Climbs

Italy''s unemployment rate increased to 9.3% in February, from 9.1% in January, downwardly revised from 9.2%, data from the statistics office ISTAT showed.

The number of unemployed persons increased 1.9% to 2.35 million in February. Annually, the number increased 16.6%.

The jobless rate among youth aged between 15 and 24 rose to 31.9% in February from 31% in January.

The employment rate was 56.9% in February compared to 57 in January.

Euro Area Manufacturing Declines

Euro-zone Purchasing Managers'' Index fell to 47.7 in March, a three month low, from 49 in February; final data from Markit Economics showed matching the flash estimate.

German Factory Sector Contracts

The seasonally adjusted Markit/BME purchasing managers'' index for Germany dropped to 48.4 in March from 50.2 in February. The reading was the lowest since December 2011.

French Manufacturing Activity Drops

The French manufacturing activity contracted more than initially estimated in March, data from Markit Economics showed.

The headline Purchasing Managers'' Index fell to 46.7 in March from 50.0 in February. The final reading was weaker than the initial flash print of 47.6.

Greek Factory Sector Shrinks

Greece''s headline Purchasing Managers'' Index for the manufacturing sector rose to 41.3 in March from the record low of 37.7 in February, according to survey results released by Markit Economics.

Danish Retail Sales Down

Denmark''s seasonally adjusted retail sales declined 0.1% on a monthly basis in February, after falling 0.2% in January, data from Statistics Denmark showed.

From a year ago, sales eased 0.5% in February compared to the 3.3% drop in January.

Swiss Retail Turnover Growth Eases

Swiss retail turnover growth eased to 0.8% annually in February from 4.7% in January, provisional results from the Federal Statistics Office showed today.