OECD Leading Index Up; German Trade Surplus Jumps 25%

Arthi Gupta
10 Apr, 2012
New York City

The OECD leading index, German trade surplus and French industrial output rose in February however euro zone investor confidence index slumped in April. Swiss jobless rate remained unchanged in March.

[R]3:30 PM Frankfurt – The OECD leading index, German trade surplus and French industrial output rose in February however euro zone investor confidence index slumped in April. Swiss jobless rate remained unchanged in March.[/R]

OECD Leading Index Up

The composite leading indicator of economic performance in the Organization for Economic Cooperation and Development (OECD) area rose to 100.5 in February from 100.3 in January, latest survey data showed.

Euro-zone Confidence Slumps

Euro-zone investor confidence index slumped to -14.7 in April compared to -8.2 in March, results of a survey by the think tank Sentix showed today.

The sharp decline in confidence was driven by the persistent rise in crude oil prices and elevated unemployment in peripheral euro zone.

German Surplus Up

Germany''s trade surplus increased to €14.7 billion in February from €11.9 billion a year earlier, data released by the Federal Statistics Office showed.

Exports increased 8.6% from a year ago to €91.3 billion in February and Imports increased 6.1% to €76.5 billion during the month.

French Confidence Stagnates, Production Climbs

France''s industrial production rose a seasonally and working-day adjusted 0.3% on a monthly basis in February after increasing 0.2% in January, revised down from the 0.3% preliminary number.

Manufacturing output declined 1.2% in February, following a 0.1% drop in January, revised from a 0.2% growth reported earlier.

Separately, the Bank of France’s business confidence indicator held steady at 95 in March, unchanged from February, according to a monthly survey report released today.

Swiss Jobless Rate Flat

Switzerland''s unemployment rate remained unchanged at 3.1% after adjusting for seasonal variations in March, data released by the State Secretariat for Economic Affairs showed today.

The number of registered unemployed fell by 6,762 from February to 126,392 at the end of March.

Swedish Output, New Orders Fall

Swedish industrial production decreased 7.1% annually on a working day adjusted basis in February compared to the revised 1.7% growth in January, data published by Statistics Sweden showed today.

Separately, the statistics office reported that industrial new orders declined 8.3% from a year ago on a working day adjusted basis in February following a 2% drop in January.

Norwegian Inflation Eases, Producer Prices Rise

Norway''s consumer price index rose 0.8% on an annual basis in March compared to the 1.2% growth in February, data released by Statistics Norway showed.

Food and non-alcoholic beverages prices rose 2.2% annually, while clothing and footwear prices dropped 1.2% in March.

Separately, the agency said Norwegian producer prices advanced 6.6% from a year ago in March. On a monthly basis, output prices climbed 1.5% during the month.