Wednesday, 7 November 2012

Japan and Europe report negative economic data

There were lots of negative economic data on Tuesday.

Japan's index of coincident economic indicators fell 2.3 points in September, according to a preliminary reading from the Cabinet Office. The index of leading economic indicators fell 1.5 points.

Markit's composite index for the euro area fell to 45.7 in October from 46.1 in September. The index for services fell to 46.0 from 46.1 in September.

German factory orders fell 3.3 percent in September, the second straight drop and the biggest since September 2011.

UK industrial production fell 1.7 percent in September. While that was mainly due to maintenance work on oil and gas production facilities, manufacturing was also weak, growing just 0.1 percent after having fallen 1.2 percent in August.

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