Industrial Production Down by 0.8% in Euro Area

There was disappointing news for the industrial sector in the euro area and in the European Union (EU), as production decreased by 0.8% and 0.5% respectively.

The estimates from Eurostat, were slightly more positive compared to the data for February, as activity in the sector decelerated at the faster pace of 1,2% in the euro area, and 0.8% in the EU.

Month on month in the euro area,  non durable consumer goods declined by 1.9%, followed by capital goods that fell by 1.1%, intermediate goods by 0.8%, and durable consumer goods by 0.4%, while production of energy rose by 2.0%.

There was a similar pattern in the EU, with non-durable consumer goods falling by 1.4%, both intermediate and capital goods by 0.7%, durable consumer goods by 0.5%, while production of energy also rose by 1.7%.

In March 2016 compared with March 2015, industrial production increased by 0.2% in the euro area, and by 0.3% in the EU

Figures for individual states showed that the largest decreases in industrial production were registered in Ireland with a minus score of 11.2%, Lithuania minus 3.5%, and Estonia minus 3.3%.

And the highest increases were found in Croatia climbing to 5%, Latvia , 4.3%, the Czech Republic 1.4%, and Spain 1.3%.

In both territories, the level of production has gradually increased since the end of 2012, but progress is still way down from the levels attained before the 2008 financial crash.

United States Was Germany’s Main Trading Partner in 2015

Provisional results from the German Federal Statistical Office, has revealed that the United States was the most valuable trading partner throughout 2015.

Goods to the value of 174.3 billion euros was traded between the two countries, with Germany exporting 114 billion euros across the Atlantic, while importing 59 billion euros of United States goods.

Germany exported more to the United States than any other country, with France being the second most influential export country with goods worth 103 billon euros, followed by the United Kingdom on 89 billion euros.

France has usually been the most significant trading partner for Germany for the past four decades.

Motor vehicles, trailers and semi trailers were the most influential export product, totalling 34.1 billion euros.

The volume of machinery transported to the United States was worth 17.7 billion euros, and the sales of pharmaceutical goods  reached 13.5 billion euros.

China came out on top out of all the countries that Germany import from, reaching 92 billion euros of goods.

The Netherlands and France were the next two most important import trading partners, as Germany spent  88 billion and 67 billion euros in both countries respectively.

France Inflation Increased by 0.1% in April

The Consumer Prices Index (CPI) in France has grown by 0.1% in April, according official figures, compared to March, where the CPI was 0.7%.

Price rises in the service sector, which spiralled upwards by 0.2% was a major reason for the CPI rise.

The rise in the cost of mobile phone services was the most influential within the sector, due to the 1.7% rise month on month, a 3.2% increase year on year.

Insurance prices also increased significantly to, as the prices reached a peak of a 1.1% rise in April compared to March.

Manufactures prices faltered, being reduced by 0.2% in April month on month, this was attributed to the result of sales promotions.

Food prices remained unchanged, although they increased by 0.4% on a year on year basis.