German Labour Costs Up Moderately in Q4
Mar 10, 12:13 PM EDT |
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| Compared with the previous quarter, the costs of one hour worked increased a seasonally and calendar-adjusted 0.4%. |
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| As reported by the Federal Statistical Office, in the fourth quarter of 2007 employers in the industry and in the entire service sector paid a calendar-adjusted 1.1% more for one hour worked than in the same quarter a year earlier. The two main components of labour costs showed different trends: While the costs of gross wages and salaries were up 1.5%, non-wage costs were down 0.4%. |
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French Industrial Output Rises 0.5% in January
Mar 10, 11:19 AM EDT |
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| In January 2008, the industrial production index was 105.9 compared with 104.6 in December and 104.3 in November. |
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| In January 2008, the industrial production index excluding energy and agrifood, after adjustment for seasonal variations and the number of days worked, was 105.9 compared with 104.6 in December and 104.3 in November. This means an increase of +1.2% between December and January after +0.3% between November and December. |
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UK PPI Rises 0.3% in February
Mar 10, 9:24 AM EDT |
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| The output price index excluding food, beverages, tobacco and petroleum rose 3% in the year to February. |
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| The output price index for home sales of manufactured products rose 5.7% in the year to February, unchanged from the rise in the year to January. Unadjusted, the index rose 0.3% between January and February, mainly reflecting rises in other manufactured product prices. The output price index excluding excise duties rose 6% in the year to February. Seasonally adjusted, the index rose 0.3% between January and February. |
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UK Manufacturing Output Rebounds in January
Mar 10, 9:07 AM EDT |
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| Between December and January, mining and quarrying output decreased by 4.1% with falls in oil and gas production. |
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| In the three months to January, the seasonally adjusted chained volume index for the output of the production industries remained unchanged compared with the previous three months. Between December and January output of the manufacturing industries rose by 0.4%.There were significant increases in output of 2% in the machinery and equipment industries and 1.4% in the chemicals and man-made fibres industries. |
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French Unemployment Drops to 7.5%
Mar 06, 2:57 PM EST |
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| The average ILO unemployment rate for Q4 2007 in metropolitan France and overseas departments was 7.8% of the active population. |
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| In metropolitan France only, it stood at 7.5%, i.e., 2.1 million people. It went down by 0.3 point compared to the revised Q3 2007. |
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Feb Minutes of Meeting
Feb 20, 10:48 AM EST |
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| The Bank of England lowered its interest rate to 5.25% to sustain the economic growth but worried on the ongoing credit markets turmoil. |
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| The projections were conditioned on the assumption that bank rate followed the path implied by market yields, falling to around 4.5% by the end of 2008.The Committee’s central projection for GDP growth was for output to slow markedly through 2008 as tighter credit conditions and weaker real income growth bore down on domestic demand. |
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BoE Holds Rate, Inflation Worries
Mar 06, 10:00 AM EST |
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| The Bank of England left its key rate to 5.25% after lowering the rate a month ago. Rising inflation worries the bank. |
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| The Bank of England left its rate at 5.25% after lowering the rates in the previous meeting on eb 7th. Since then credit markets have remained on the decline, inflation in the country has been on the rise, and retail sales have moderated.Home prices continue to be elevated and consumer confidence in the UK has been falling. |
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ECB Left Rates at 4%
Mar 06, 9:45 AM EST |
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| The European Central Bank left its key rate at 4% and indicated that the bank is looking to keep inflation in check. |
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| At today’s meeting the Governing Council of the ECB decided that the minimum bid rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 4.00%, 5.00% and 3.00% respectively. |
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Euro Retail Sales Rise 0.4% in January
Mar 05, 12:51 PM EST |
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| In January 2008, compared with January 2007, the retail sales index decreased by 0.1% in the euro area, but rose by 1.8% in the EU27. |
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| In January 2008, compared with December 2007, the volume of retail trade grew by 0.4% in the euro area EA15 and by 0.6% in the EU27. In December 20073 retail trade fell by 0.1% and 0.2% respectively. |
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German Exports Rise
Mar 04, 3:19 PM EST |
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| Total imports showed a smaller rise than total exports, so the balance of trade surplus grew to ˆ196.5 billion vs. ˆ159 billion in 2006. |
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| As reported by the Federal Statistical Office, in 2007 German exports to the member states of the European Union rose 11.1% against 2006 to EUR 627.5 billion and thus saw a much stronger increase than exports to third countries, whose rise by 4.1% to EUR 341.5 billion was far below average in 2007. |
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