Wednesday, January 6, 2010

Industrial Production Declines in Eurozone for First Time Since March

Slightly dated (October figures) as there is a delay in the release, but this would impact Q4 GDP for the Eurozone. Reuters details:

Euro zone industrial new orders were weaker than expected in October and producer prices grew less than anticipated in November, data showed, underlining the fragility of economic recovery and weak inflationary pressures.

Industrial new orders in the 16 countries using the euro fell 2.2 percent in October against September, the European Union statistics office Eurostat said on Wednesday.
Orders were dragged lower mainly by a slump in volatile demand for ships, planes and trains, without which the monthly decline was only 0.4 percent.

October new orders, which will translate into industrial production over the following months, were 14.5 percent lower than a year earlier, although that was only half the annual decline in May.

Source: Eurostat

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