Friday, many European countries released industrial production and inflation data at the end of the week. The French industrial production declines less than expected, while production decline worsened in Italy. In Switzerland, the jobless rate remained unchanged as expected. Inflation accelerated in Norway and Slovakia, while eased in Romania and Denmark.
Eurozone
The Federal Statistical Office announced that Germany' metallurgical plant's raw steel production decreased 0.6% to 4.04 million tonnes year-over-year in September, in contrast to a 0.4% rise recorded in the prior month. The statistical agency also announced that Germany's enterprise insolvencies rose 8.5% year-on-year in July.
The statistical office INSEE said the French industrial production dropped 0.4% month-on-month in August. Economists were looking for a decline of 0.8%. The July's increase was revised up to 1.4% from 1.2%. Manufacturing production dipped 0.5% month-on-month in August, after recording a 1.6% rise in July, revised up from 1.5%. The consensus forecast was for a 0.9% fall.
The Italian industrial production declined by a working day adjusted 5.3% year-on-year in August, compared with an upwardly revised fall of 2.7% in July, the statistical office ISTAT showed.
A report from Statistics Finland said the new orders in manufacturing declined 0.8% year-on-year in August, reversing the 3.1% growth in July. The statistical agency also reported that building costs rose 3.6% year-on-year in September, smaller than the 4.2% gain logged in August.
A preliminary report by the Statistical Office of the Republic of Slovenia said the trade deficit widened to EUR 309.6 million in August from EUR 270 million recorded in July. The statistical office also announced that industrial production decreased working day adjusted 2.5% year-over-year in August, after falling 4.6% in July.
The Statistical Service of the Republic of Cyprus announced that the trade deficit stood at EUR481.4 million in August, smaller than the EUR 668.1 million recorded in July.
Rest of Europe
The State Secretariat for Economic Affairs or SECO said the Swiss jobless rate stood at 2.4% in September, unchanged from August. The rate matched economists' expectations. The seasonally adjusted jobless rate edged up to 2.6% in September from 2.5% in August. Economists had expected the rate to remain unchanged at 2.5%.
The Statistics Norway announced that the consumer price inflation increased to 5.3% year-over-year in September from 4.5% recorded in August. This was the highest annual inflation since December 1988. In September, the Harmonized Index of Consumer Prices, or HICP increased 4.8% year-on-year, after rising 4.1% in August.
Norway's producer price index rose 30.3% year-on-year in September compared with a 33.8% rise in August, the Statistics Norway reported. Economists had expected PPI inflation to slow to 28.5% in September.
The Slovak consumer prices rose 5.4% year-on-year in September compared with a 5% rise in August, a report by the Statistical Office of the Slovak Republic said. Separately, the statistical office said the trade surplus amounted to SKK 0.6 billion in August compared to a trade deficit of SKK 5.8 billion in the same month last year. In July, the trade deficit was SKK 3.4 billion.
Romania's National Institute of Statistics announced that the Consumer Price Index, or CPI increased 7.3% year-over-year in September, smaller than the 8.02% rise recorded in the prior month. The office also announced that the trade deficit stood at EUR1.7 billion in August compared to the EUR1.9 billion deficit seen in the previous month.
Denmark's consumer price annual inflation eased to 4.2% in September from 4.3% in August, a report by Statistics Denmark said. Analysts expected the rate to fall to 4%. Meanwhile, the harmonized index of consumer prices increased 4.5% year-on-year in September compared with a 4.8% rise in August. Analysts had expected the HICP to rise 4.3%.
A report by the Turkish Statistical Institute said the rate of capacity utilization in the manufacturing sector decreased to 79.8% in September from 83.2% in the previous year. Economists had expected a rate of 78.6% for September. However, the capacity utilization rate improved from August's 76.2%.
An official report showed that Sweden's jobless rate edged up to 3.1% in September from 3% in August. Economists had expected the rate to hold steady at 3%.
Statistics Lithuania said the trade deficit decreased to LTL 1 billion in August from LTL 1.41 billion in July.
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