Manufacturing Helps Index To Grow By 3%

Output increased by 3% over the year between April 2013 and April 2014 according to a statistical bulletin released by the ONS. All the main sectors increased over the year except electricity, gas, steam and air conditioning. Manufacturing increased by 4.4%.

The main components that contributed to the increase in the manufacturing production index were rubber, plastic and other non-metallic mineral products, transport equipment and food, beverages and tobacco.

The monthly comparison shows that production increased by 0.4% between March 2014 and April 2014. Output dipped in two sectors and the largest contributor to this was mining and quarrying with -1.1% then water supply, sewerage and waste management with -0.7%. Manufacturing increased over the month by 0.4% due to increases in transport equipment, computer electronic and optical products and rubber, plastic and other non-metallic mineral products.

EA Inflation Expected To Fall To 0.5%

Euro area inflation (MUICP) is expected to fall to 0.5% in May 2014 from 0.7% in April according to the latest flash estimate from Eurostat. The services sector is expected to have the highest rate in May with 1.1%, followed by food, alcohol and tobacco with 0.1%, non-energy industrial goods and energy bot with 0.0%.

Retail Trade Volumes Up 0.3% Across Europe

March 2014 saw retail trade increase across Europe by 0.3%. In February the increase in trade had been 0.1% in the euro area and 0.3% in the EU28. The annual comparison shows that in March 2014 compared with March 2013 the increase was 0.9% in the euro area and 1.6% in the EU28.

The 0.3% increase in the volume of retail trade on the monthly comparison in the euro area is due to a rise of 1.3% in the food, drinks and tobacco sector while the volume fell by 0.3% in the non-food sector and 0.1% in automotive fuel. In the EU28 the rise was due t rises of 1% for automotive fuel and 0.7% for food, drinks and tobacco.

The biggest increases were seen in Estonia and Latvia with 2.8%, France 2.3% and Romania with 2.2%. The decreases were in Portugal with a decrease of 1.7%, Austria with 0.9%, Germany, Ireland and Slovenia all with 0.7%.

The increase of 0.9% in volume over the year was due to rises of 1.9% in the non-food sector, 0.3% in automotive fuel and 0.3% in food, drinks and tobacco in the euro sector. The increase of 1.6% in the volume of retail trade in the EU28 was due to rises of 3.3% in the non-food sector and 1.8% for automotive fuel. Food, drinks and tobacco fell by 0.1%.

Romania saw the biggest increase with a rise of 13.4% in volume, Luxembourg was next with 12.1% and Hungary with 8.4%. Malta with -2%, Finland with -1.3%, Slovenia -1.1% and Spain with -0.6% saw the biggest decreases in volume of retail trade.

Annual CPI Inflation At 1.6%

CPI inflation increased by 1.6% in the year to March 2014. It was 1.7% in February. Between February and March 2014 the CPI rose by 0.2% compared with 0.3% between the same two months of last year. Downward pressure mainly came from transport, especially motor fuels but also from clothing and furniture and household goods.

Transport prices didn't change much between February and March 2014 compared with the 0.6% increase a year earlier. Petrol prices were unchanged compared with a 2.2% rise last year. Diesel fell by 0.4p/litre compared with a rise of 1.9p/litre last year. Air transport fares grew by less than they did a year ago.

As usual, prices for clothing and footwear increased between February and March but by less than last year. Downward pressure mainly came from women's outer garments. Furniture and household goods prices went up by 0.3% over the month compared to a rise of 0.8% last year.

The main upward contribution came from restaurants and hotels where prices increased by 0.5% compared with 0.2% last year mainly from price increases for overnight stays in hotels. Prices for alcohol, particularly spirits, and tobacco rose this year but fell last year.

CPIH which includes owner occupier housing costs (OOH) grew by 1.5% in the year to March 2014. RPIJ grew by 1.8% from 2% in February. RPI annual inflation was 2.5%.

European Retail Trade Up 1.6% In January

European retail volumes were up by 1.6% in the euro area in January compared with December 2013 according to Eurostat. The EU28 reported increases of 0.9%. In January 2014 compared with January 2013 retail trade increased by 1.3% and 1.9% respectively.

The increase in the monthly comparison in the euro area is due mainly to increases in the non-food sector of 1.9%, 1.5% for automotive fuel and 1.1% for food, drinks and tobacco. In the EU 28 the rise is due to an increase of 1.4% for automotive fuel, 1.3% for non-food sector and 0.3% for food, drinks and tobacco.

The main contributors to the 1.3% increase in the volume of retail trade in the annual comparison in the euro area were increases of 2.9% for automotive fuel, 2.5% in the non-food sector while food drinks and tobacco fell by 0.4%. In the EU28 the 0.9% increase was due to increases of 3.6% in the non-food sector, 2.1% in automotive fuel and 0.1% in food, drinks and tobacco.

Inflatiom Below 2% At 1.9%

Growth in CPI inflation fell to 1.9% in the year to January 2014 from 2% in December 2013 according to a statistical bulletin from the ONS.

Decreases in prices for recreational goods and services, furniture and household goods and alcoholic drinks and tobacco were the main contributors to the fall. These price movements were offset by an upward movement in prices for miscellaneous goods and services.

The change in the inflation figures means that a basket of goods and services that cost £100.00 in January 2013 would cost £101.90 in January 2014.

CPIH grew by 1.8% in the year to January 2014 down from growth of 1.9% in December 2013. CPIH is an inflation measure that includes owner occupier housing costs (OOH) but not things like utility bills, minor repairs and maintenance.

Manufacturing Leads Growth In Production

Manufacturing made by far the biggest contribution to the overall production output increase of 0.5% with growth of 0.7% between Q3 and Q4 2013 according to data from the ONS.

The annual comparison shows that production output was 1.8% higher in December 2013 than in December 2012. When this is broken down into industry sectors manufacturing rose by 1.5%, mining and quarrying by 2.6% and water services by 7.9%. These rises were offset by a fall of 3% in electricity, gas, steam and air conditioning.

Between November 2013 and December 2013 production rose by 0.4% and manufacturing by 0.3%. The manufacture of basic pharmaceuticals and pharmaceutical preparations, coke and refined petroleum products and the manufacture of food products, beverages and tobacco were mainly responsible for the rise.

The figures are seasonally adjusted.

Non-Food Sector Takes Retail Volumes Down

The volume of retail trade in Europe fell in March 2013 compared with February 2013 by 0.1% in the euro area and 0.2% in the EU27. The figures from Eurostat also include the annual comparison and between March 2012 and March 2013 the index fell by 2.4% in the euro area and 1.6% in the EU27.

During March the food, drinks and tobacco sector increased by 0.8% in the euro area and by 1% in the EU27 but the non-food sector fell by 0.5% and 0.6% respectively. Total retail trade fell in nine countries and rose in eleven. Over the year food, drinks and tobacco fell by 1.2% in the euro area and by 0.6% in the EU27 but the non-food sector fell even more by 3.3% and 2% respectively. Retail trade fell in fourteen countries and rose in seven. The biggest fall in retail trade was in Spain with -10.5%.

Fall In European Annual Inflation

Annual inflation fell in Europe in February in both the euro area and the EU27. In the euro area inflation fell to 1.8% from 2% while in the EU27 it fell to 2% from 2.1% in January. The monthly inflation figures also fell by 0.4% in both zones.

The lowest annual rates were in Greece (0.1%) and Portugal (0.2%) and the highest rates were in Romania (4.8%) and Estonia (4%). The biggest upward contributions to the changes were from electricity (0.17%), fruit and tobacco (both 0.07%) and the biggest downward contributions came from telecommunications (-0.22%), medical and paramedical services (0.08%) and garments (0.07%).

MUICP Estimate 2%

HICP inflation in the euro area is expected to be 2% in January 2013, down from 2.2% in Decmber 2012, according to a statistical estimate from Eurostat.

Energy is expected to have the highest rate at 3.9% compared with 5.2% in December, food, alcohol and tobacco follow with 3.2% the same as December, services are almost unchanged at 1.7% compared with 1.8% and non-energy industrial goods at 0.8% compared with 1% in December 2012.

Manufacturing Down 2.1% Production By 2.4%

The index of production published by the ONS shows that production was down by 2.4% in November 2012 compared with November 2011. Manufacturing was down by 2.1%.

The monthly analysis shows that production actually rose by 0.3% during the month October to November 2012. Large increases in production in mining and quarrying (8.7%) were offset by falls in manufacturing (0.3%) and energy supply (4.1%).

The annual analysis for November 2012 and November 2011 also shows that mining and quarrying fell by 13% within which oil and gas extraction decreased by 17.8% contributing 13.4% to the sector fall. Manufacturing fell 2.1% over the year with food manufacturing, beverages and tobacco contributing a fall of 4.6% and chemicals and chemical products 6.8%. Energy supply increased by 4.4% and water supply and waste management increased by 2.4%.

Producer Output Price Rises In September

The output prices of home sales of manufactured products increased by 2.5% in the year to September 2012 compared with an increase of 2.3% last month according to a statistical bulleting from the ONS. Between August and September the index for output rose by 0.5%, the same as between July and August. Input prices however fell b y 1.2% in the year to September 2012 compared with a fall of 1.1% last month. Input prices also fell between August and September by 0.2% compared with a rise of 1.9% between July and August. The largest changes in output prices were in tobacco and alcohol with an 8.7% increase, petroleum products 3.4%, computer, electrical and optical with 2.9% and other manufactured goods with a 2.8% change. The largest changes in input price were in imported metals with a -12.8% percentage change and home food materials with a change of 10.1%. Fuel increased by 7.4% and crude oil fell by 2.3%. Imported chemicals and imported parts and equipment also fell by 3.6% and 3% respectively.

Inflation Down To 3%

CPI annual inflation fell 0.5% to 3% in April 2012. Easter had a significant effect on the data. The rate was last lower in December 2009 when it was 2.9%. The index stands at 122.9. The main causes of the decrease in the index were falls in prices in air transport, off-sales of alcohol, clothing and sea transport. Upward pressure came from the operation of personal transport equipment, restaurants and hotels, and rents. The RPI stands at 3.5% down from 3.6% in March. The CPI rose 0.6% between March and April 2012. Transport prices rose by 1.2% the largest contrubutor to which came from fuel costs which increased 2%. Petrol prices went up 3.2% to £1.42/l. Diesel prices rose 2.1% to £1.48/l. The increase in excise duties helped prices of alcohol and tobacco to go up by 2.9%, where tobacco prices increased by 5.1%. Prices of furniture, household equipment and maintenance fell by 1.2%, mainly due to downward prices in furniture and furnishings.

Retail Sales Down 0.4% In Euro Area

Euro area retail trade fell by 0.4% in terms of volume in December 2011 compared with November while it grew by 0.3% in the EU27 over the same period. Food, drinks and tobacco fell by 0.2% in the euro area and grew by 0.3% in the EU27. Non-food sector categories grew by 0.3% in the EU27 but fell by 0.1% in the euro area.

Total retail trade fell in eleven states and grew in eight states remaining stable in Ireland and Sweden. The highest increases were in Portugal (2.2%), Belgium (1.5%) and Poland (0.7%) and the biggest decreases were in Malta and Slovenia (both -3.1%) and Latvia (-2%).

The annual comparison shows that in December 2011 compared with December 2010 the food, drinks and tobacco sector fell by 1.3% in the euro area and 0.6% in the EU27 and the non-food sector decreased by 1.5% in the euro area but grew by 0.8% in the EU27. The total retail sales index for the EU27 shows growth of 0.1% but in the euro area a fall of 1.6%.

Trade fell in ten states but rose in eleven. The largest increases were in Lithuania (13%), Latvia (7.1%) and the UK (6.3%). The biggest falls in trade were recorded in Portugal (-8.8%), Spain (-5.3%) and Slovakia (-3.3%) (Eurostat).

Factory Gate Prices At A Low

The producer price index, which measures the changes in input and output prices of goods bought and sold by manufacturers in the UK, reported an annual increase in December of 4.8%, the lowest annual rate for factory gate prices for home sales of manufactured products since December 2010. The monthly index fell by 0.2%, the first monthly fall since July 2010.

Over the year the biggest percentage increases were in petroleum products (10.5%), food products (7.1%) and tobacco and alcohol (6.6%).

The total input price index rose by 8.7% in the year to December, the lowest annual rate since October 2010. It was 13.6% the previous month. The monthly index fell by 0.6%.

The biggest percentage changes in the month to December were falls in the prices for petroleum products and chemicals and pharmaceuticals (both -0.9%) and increases in the prices of food, paper and printing and computer, electrical and optical (all 0.1%).

The producer price index provides a key measure of inflation along with other indicators like the CPI and the RPI.

Retail Trade Lower Across Europe In November

First estimates from Eurostat suggest that retail trade volumes in the euro area fell by 0.8% over the month and by 2.5% over the year. In the EU27 trade fell by o.6% during November and 1.3% over the year.

Over the month the food, drinks and tobacco sector fell by 0.8% in the euro area and by 0.7% in the EU27. The non-food sector fell by 0.7% in both areas. Retail trade fell in 13 countries and rose in 7. Over the year, food, drinks and tobacco fell 1.6% in the euro area and by 1.5% in the EU27 while the non-food sector fell by 3% and 1.1% respectively. Over the year retail trade volumes fell in 10 member states and rose in 10.

September Retail Trade Down In Europe

The volume of retail trade in Europe fell in both the euro zone and the EU in general in September when compared with August 2011. The year on year retail sales index also fell in both areas.

Volume fell by 0.7% in the euro area and 0.3% in the EU27 during the month between August and September. The non-food sector fell by 0.8% in the euro area and 0.9% in the EU while food, drink and tobacco remained unchanged in the euro area and rose by 0.1% in the EU27. The total retail trade index fell in 11 of the member states and rose in 8. The highest decreases were in Portugal (-3.7%), Slovenia (-2.1%) and Spain (-1.7%) and the largest increases were in Poland (2.4%), UK (1%) and Latvia (0.9%).

The index fell by 1.5% in the euro area and 0.8% in the EU27 when comparing 2010 and 2011. The food category fell by 0.5% in the euro area and 0.4% in the EU as a whole. The non-food sector fell by 1.9% and 0.8% respectively. The highest decreases were in Malta (-7.5%), Portugal (-6.2%) and Spain (-5.8%). The highest increases were in Lithuania (10.6%), Luxembourg (8.3%) and Latvia (8.1%).

Factory Gate Prices Up 5.7%

The producer prices index from the ONS tells us that factory gate prices for home sales of manufactured goods increased 5.7% in the year June compared with 5.4% in May. The price excluding the more volatile sectors such as food, beverages, tobacco and petroleum increased by 3.2%. The output price excluding excise duty increased by 5.8%.

Over ther month between May and June the output price index rose by 0.1%. The increase mainly reflects increases in the prices of food and other manufatures.

CPI At 4.5% In April

CPI annual inflation in April stands at 4.5% up from 4% in March. The most significant contributions to the increase were air transport, alcohol and tobacco and gas. Downward pressure came from petrol and diesel, miscellaneous goods and services, clothing and footwear and communication. The RPI index recorded an annual inflaton rate of 5.2% down from 5.3% in March.

Manufacturing Up By 2.7%

The index of production from thew ONS increased by 0.7% in March 2011 compared with March 2010. Manufacturing increased by 2.7% over the same period (figures are seasonally adjusted). The energy supply sector is also helping to drive growth.

Over the last quarter production grew by 0.2% with manufacturing growing by 1.1%. The largest contributions to the growth in manufacturing were in transport equipment (5.1%), food, drink and tobacco (1.4%) and electrical and optical equipment (2.9%). Mining and quarrying fell by 10.7% in March on March a year ago and by 1.4% on the quarter.