Wednesday, 11 January 2006

German confidence, French industrial output jump; data elsewhere less positive

The positive news from Europe just keeps coming. From FT:

The Mannheim-based ZEW institute said its German economic sentiment indicator jumped by 9.4 points to 71 in January - the highest level since January 2004 and significantly above its historical average...

Meanwhile, France's economic outlook also brighten a little with the country's Insee economic institute reported that industrial production leapt by 3.1 per cent in November, easing worries about the sustainability of French economic growth.

Japan, on the other hand, continues to give mixed signals. From AFX:

Household spending in November averaged 284,465 yen, unchanged from a year before, the Ministry of Internal Affairs and Communications said. However, household spending in November fell a seasonally adjusted 1.3 pct from October, declining for the third consecutive month... On a nominal basis, household spending in November fell 1.0 pct from a year earlier.

There was also economic news from the US. From MarketWatch:

Inventories at U.S. wholesalers expanded in November, the Commerce Department said Tuesday. Monthly sales dropped 0.7% while inventories climbed 0.4%, the government data showed. The inventory-to-sales ratio rose from a record low 1.14 months in October to 1.15 months in November...

The decline in November sales was the first since February and the largest drop since April 2003. The decline in sales in November was widespread, and sales in October were also weaker than first believed. Sales rose a revised 0.9% in October, down from the initial estimate of a 1.2% gain.

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