Global| Jun 07 2010European Production Data Encouraging
Summary
The news from Europe is not all bad. Data released today show that the real sector, as opposed to the financial sector, continues to improve in a number of countries. German Manufacturing Orders and Sales increased in April, contrary [...]
The news
from Europe is not all bad. Data released today show that the
real sector, as opposed to the financial sector, continues to improve
in a number of countries. German Manufacturing Orders and Sales
increased in April, contrary to expectations of a
decline. The volume of new orders rose 2.9 points
to 105.1 (2005=100) in April after a 5.0 point rise in March.
Comparable figures for the volume of sales were a rise of 1.2 points in
April after a 2.9 point rise in March. Sales and new orders
are shown in the first chart. Last week, it was announced
that the registered unemployment rate IN Germany had fallen to
7.7%. It is now five percentage points below November 2009.
Other countries releasing data on production today were Norway, Denmark and the Czech Republic. Although Industrial Production continued to decline in Norway in April, the year over year percent of decline has abated. Industrial production in Denmark in April was 4.2% above the year ago figure. This was the first significant positive change since September, 2008. Finally, industrial production in the Czech Republic continues to forge ahead. The index was 109.5 (2005=100) in April, 10.9% above April 2009. The actual indexes of Industrial Production and the year to year changes in the indexes for the three countries are shown in the second and third charts.
| May 10 | Apr 10 | Mar 10 | Feb 10 | Jan 10 | Dec 09 | Nov 09 | Oct 09 | |
|---|---|---|---|---|---|---|---|---|
| INDUSTRIAL PRODUCTION (2005=100) | ||||||||
| Czech Republic | -- | 109.5 | 108.4 | 107.6 | 107.8 | 104.9 | 104.8 | 104.6 |
| Norway | -- | 90.0 | 90.7 | 92.1 | 92.6 | 92.4 | 93.0 | 92.6 |
| Denmark | -- | 87.6 | 85.7 | 85.2 | 83.9 | 81.0 | 93.9 | 82.1 |
| INDUSTRIAL PRODUCTION Y/Y% Change | ||||||||
| Czech Republic | -- | 10.9 | 10.2 | 6.9 | 4.9 | 2.3 | -0.2 | -7.4 |
| Norway | -- | -3.5 | -5.2 | -6.3 | -3.5 | -6.3 | -4.5 | -5.9 |
| Denmark | -- | 4.2 | -2.0 | -4.8 | -12.0 | -17.1 | -11.3 | -18.4 |
| GERMANY | ||||||||
| New Orders Volume (2005=100) | -- | 105.1 | 102.2 | 97.2 | 97.2 | 92.4 | 94.7 | 91.4 |
| Sales Volume (2005=100) | -- | 99.0 | 97.8 | 94.9 | 95.1 | 94.0 | 95.0 | 94.8 |
| Registered Unemployment Rate (%) | 7.7 | 7.8 | 8.0 | 8.1 | 8.1 | 8.1 | 8.2 | 8.2 |
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