Euro Zone Economy Expanded in November, Spanish PPI Eases

Arthi Gupta
21 Dec, 2012
New York City

The euro zone economy expanded in November. German consumer sentiment is set to decline in January. Italian consumer confidence and French business confidence improved in December.

[R]1:50 PM Frankfurt – The euro zone economy expanded in November. German consumer sentiment is set to decline in January. Italian consumer confidence and French business confidence improved in December.[/R]

Euro Zone Leading Index Climbs

The euro zone economy expanded in November, data from a survey by the Conference Board showed.

The Conference Board Leading Economic Index for the euro area increased 0.6% in November to 105.3 after decreasing 0.3% in October.

The coincident economic index, which measures the current situation, remained unchanged at 101.5 in November.

German Consumer Confidence Set to Fall

Germany''s consumer sentiment is set to decline in January; survey results from market research group GfK showed today.

The overall indicator is forecasting 5.6 points for January 2013 following a revised value of 5.8 points for December.

Economic expectations fell 3.3 points to -17.9 in December. Income expectations rose 3.4 points to 21.2.

French Business Confidence Gains

France''s business confidence improved in December, data from the statistics office Insee showed.

The business confidence indicator for the manufacturing industry rose to 89 in December from 88 in November.

Norwegian Jobless Rate Rises

Norway''s unemployment rate rose to 2.4% in December from 2.3% in November, data from the Norwegian Labor and Welfare Service showed.

Italian Consumer Confidence Improves

Italy''s consumer confidence indicator increased to 85.7 in December from 84.9 in November, data released by the statistics office ISTAT showed.

The economic climate index rose to 72.9 from 69.7 and the future climate index climbed to 78 from 75.3.

Hungarian Retail Sales Drop

Hungary''s retail sales fell 3.7% annually in October, following a 3.1% drop in September, data released by the Hungarian Central Statistics Office showed.

Food, drinks and tobacco stores fell 1.2% and non-food sales slumped 5.3% in October.

From a month ago, retail sales declined a calendar-and-seasonally adjusted 0.4% in October.

Spanish PPI Eases

Spain''s producer price inflation slowed 2.8% in November from 3.4% in October, the statistics office INE said today.

On a monthly basis, producer prices dropped 0.5% in November, following a 0.2% decline in October.