Euro Area Confidence Rises, German Output Drops 0.5%

Arthi Gupta
08 Oct, 2012
New York City

Euro zone confidence improved in October and German exports rose unexpectedly in August. The French economy is estimated to decline 0.1% in the third quarter and Swiss jobless rate was unchanged in September.

[R]2:00 PM Frankfurt – Euro zone confidence improved in October and German exports rose unexpectedly in August. The French economy is estimated to decline 0.1% in the third quarter and Swiss jobless rate was unchanged in September.[/R]

Euro Zone Sentiment Climbs

Investor confidence in the euro zone improved in October, data released by the think-tank Sentix showed today.

The Sentix Index rose to -22.2 in October from -23.2 in September.

German Exports Improve, Output Drops

Germany''s exports after calendar and seasonal adjustments increased 2.4% and imports rose 0.3% in August compared to July, data from Destatis showed.

On a yearly basis, exports gained 5.8% and imports climbed 0.4% in August.

The foreign trade balance was €16.3 billion in August compared to the surplus of €16.9 billion in the prior month.

In a separate report, Germany''s industrial production declined a seasonally and calendar adjusted 0.5% from a month ago in August compared to the 1.3% gain in July, according to preliminary data released by the Ministry of Economics and Technology.

Annually, industrial output decreased 1.3% in August.

French Business Sentiment Falls

The French business sentiment indicator for industry declined to 92 in September from 93 in August, according to the latest survey published by the Bank of France today.

The business sentiment indicator in services remained at 91 in September, like in August.

The French gross domestic product is expected to decline by 0.1% in the third quarter of 2012, according to the monthly index of business activity, according to the third estimate by the central bank and is unchanged from the previous forecasts.

Swiss Jobless Rate Steady, Consumer Prices Fall

Switzerland''s seasonally adjusted unemployment rate remained unchanged at 2.9% in September, the State Secretariat for Economic Affairs said today.

There were 120,347 registered unemployed at the end of September, up 524 from August.

Separately, Switzerland''s consumer price index fell 0.4% annually in September, following a 0.5% drop in August, data from the statistics office showed.

From a month ago, the CPI rose 0.3% in September, after remaining flat in August.