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 EN FRANCAIS

NOVEMBER 2008   to access topics and previous months please scroll down  

HOUSEHOLD CONSUMPTION of manufactured products grew a modest +0.3% (-0.5% in September) with sales of the Commerce sector up 0.6%

Source: Insee

Sales of Durables Goods rose +0.6% pushed up by sales of household equipment +3.4% unlike car sales -2.1% Sales of textile-leather products fell -1% and other manufactured products rose +0.5% In one year, overall household consumption of manufactured products rose +1% with sales of the Commerce sector rising +0.8% . Sales of Durable Goods grew +2.3% with car sales down 2.4% and household equipment a vibrant +7.2% Sales of textile-leather products fell -0.7% and other manufactured products grew +0.9% 

New PASSENGER CAR REGISTRATIONS plummeted -25.8% in Europe (-14.5% last month) year on year and fell -7.1% between January and November. On the same period, car sales in France dived -14.1% but rose +0.8% New PASSENGER CAR REGISTRATIONS plummeted -25.8% in Europe (-14.5% last month) year on year and fell -7.1% between January and November. On the same period, car sales in France dived -14.1% but rose +0.8%

Source: ACEA

Per car manufacturer and in western Europe in November compared with the previous month, new passenger car registrations plummeted -26% to 854 698units sold. France’s PSA Group car sales tumbled -27.1% and Renault -19.8% The hardest decline was record by Chrysler -55.7% Jaguar Land Rover Group -42.5% and GM Group -38.5% Fiat Group, BMW and Daimler observed similar negative trends respectively -24.9% -31.1% and -24% Since January and on a cumulative period, new registrations fell -7.6% to 12 718 363 units. PSA Group sales decreased by 9% and Renault Group by 4.4% dye to Dacia sales up 43.4% In total Europe and on the same period, best performers per car manufacturers included Renault Dacia +8.6% Fiat other category including Ferrari and Maserati +8.7% BMW mini +1.3% Daimler Smart +6.9% Nissan +10.1% Mazda +3.6% and Jaguar +15.1% Year on year however, sales slowed down and abruptly: Jaguar +1.2% (+19.2% last month ) Mazda -25.5% (-11.8% in October) Nissan -22.6% Daimler Smart -27.9% (-14.2% last month) BMW Mini -40.5% (-20.7% in October) Fiat other category including Ferrari and Maserati -27.1% (-30.8% last month) and Renault Dacia -16.4% (+15.5% in October) 

CONSUMER PRICES in Metropole stayed quasi stable or +0.1% for the fifth consecutive month and including French Overseas Departments DOM TOM fell -0.5%. In one year, inflation stood at 1.9% in Metropole and including DOM TOM fell back to 1.6% (2.7% in October, 3% In September, 3.2% in August, and 3.6% in July)

Source: Insee, Eurostat

The services price index performed similarly -0.1% In one year, the food price index grew a steep +3.8%, impacted by food excluding fresh produce +4.7% Energy prices fell -1% due to oil products -5.4% The services prices index rose +2.3% due to rent +2.5% transport and communication +1.6% and other services +2.7%

The manufactured products price index rose +0.3% with clothing and shoes prices up a modest +0.5% while health products fell -1.6% and other manufactured products gained +0.6%

The EURO AREA annual INFLATION fell to 2.1% in November (3.2% last month and 3.1% a year ago) and monthly inflation was -0.5% . The lowest yearly rates were observed by Germany and Portugal 1.4% each, France and The Netherlands 1.9% each. Out of the Euro area, the highest rates was recorded by Malta 4.9%.

Inflation in Iceland, a non EU member state rose to 19.8% from last month 17.9% In the Euro area and in November, the main components with the highest annual rates remained housing 4.5%, and food 3.7% along with and alcohol & tobacco 3.5%,The lowest annual rates were observed for communications -2.1%, transport -0.6% and recreation-culture 0.6%.The main components with the highest monthly rates were alcohol-tobacco and clothing each 0.4% and household equipment 0.2% The lowest rates were transport -2.7%, housing -0.5% and hotels-restaurants -0.3%.

OCTOBER 2008  

ORDER BOOKS plunged -11.3% compared with the previous month and recorded the worst performance out of the Euro area where orders fell overall -4.7% and in the EU27 -6.3% In the Euro area, and per industrial sector, orders of transport equipment tumbled -9.4% (-10.2% in the EU 27) machinery and equipment -6.5% (-12.6% in the EU 27) and, basic metal products and fabricated metal products -5.8% (-5.7% in the EU 27). Orders of textile and textile products fell -3.2% (-2.4% in the EU 27) similarly to orders of electric-electronic equipment (-1.9% in the EU 27) Out of the same region, orders in Germany decreased by 6.8% -4.4% in Spain, -4.2% in the Netherlands and -6.4% in Italy. Only Ireland observed an order books upsurge +10%

Source: Eurostat

INDUSTRIAL OUTPUT dipped -2.7% compared with the previous month pushed down by the Automobile Industry massive production gap-14.3% In addition, Intermediate Goods -3.5% added to the overall index negative production trend, along with the Food and Agriculture Industry -2% Consumer Goods -0.4% and Capital Goods -0.5% Excluding Energy and the Food and Agriculture Industry, production declined -3.2% The Intermediate Goods sector major components recorded the strongest output gaps : the production of metal and metallic products slid -5.5% due to the automobile and the construction sectors, output of chemicals, plastic and rubber products impacted by a lack of demand dipped -3.6%, textile industry products output fell -3.5% electric and electronic components -2.3% wood-paper and cardboard products -2.3% while the production of mineral products declined -0.7% Capital Goods best of class, planes-trains-boats-motorcycles saw production decrease by -0.1%, mechanical equipments by -0.6% and electric-electronic equipment by -0.7%

Source: Insee

Out of the Consumer Goods group, pharmaceuticals-perfumes-personal care products production rose +2.1%, leather and clothing +0.8% while the production of home equipment dived -5.5% and book printing-reprints -3.9% The Energy component reflected an atone economic environment, -0.2% with the production of water gas and electricity declining -1% Output of combustibles and fuels rose +5.6% In the Euro area and in October, overall output fell -1.2% pushed down by each Intermediate Goods and Capital Goods -2% production gaps, along with Durable Consumer Goods -1.4% Non Durable Consumer Goods -0.3% and Energy -0.1% Out of France‘s main trading partners, overall output fell -2% in Germany,-1.9% in Spain, -1.2% in Italy and -1.6% in the UK. On the same period, the biggest output gaps were recorded by Lithuania -5.6% Estonia -5% and Ireland -6.4% In one year, overall output tumbled -6.5% and excluding the Food and Agriculture Industry and Energy -7.6% The Automobile Industry production plunged -27.5%, Intermediate Goods -9% the Food and Agriculture Industry -5.5% Consumer Goods -3.2% while Capital Goods observed a modest +0.2% output gain. The Energy component output fell -1.5% Out of the Consumer Goods group, output of home equipment plummeted -14.8% production of clothing and leather -3.5% and book printing-reprints -8.5% while the production of pharmaceuticals-perfumes-personal care products rose +2% Capital Goods boats-trains-planes-motorcycles production remained in the black and rose +3.4% while the production of electric-electronic equipment fell -1.7% and mechanical equipment -0.3% Intermediate Goods recorded the strongest components production gaps: output of textile and textile products plummeted -17.2% chemical-plastic-rubber products -11.2% wood-paper-cardboard products -9.1% and metal metallic products -7.5% The production of electric and electronic components did not fare better and dived -5.7% as well as mineral products -6.5% In such negative environment, the production of water,gas,electricity fell -3.8% unlike the production of combustibles and fuels +15.4%

In the Euro area, overall production tumbled -5.3% due to Durable Consumer Goods output collapsing -8.4% (-6.3% in the EU 27) and Intermediate Goods -7.4% (-7.2% in the EU 27).Production of Capital Goods dipped -5.2% (-4.9% in the EU 27) Non Durable Consumer Goods -2.5% (-2.7% in the EU 27) and Energy -1.3% (-2?1% in the EU 27) Production in Germany decreased by 3.8% plummeted -12.8% in Spain in Italy -6.9% and in the UK -5.5% Major output gaps involved Latvia’s -9% Ireland -10% Estonia -11%. Nordic countries observed similar downwards trends: in Denmark production slid -4.5% in Sweden -6.2% and declined in Finland -1.2%

The TRADE GAP widened to another record, € -7.066bn to a cumulative € -56.201bn in the last twelve months according to the Department of Statistical and Economic studies figures. Imports increased to €39 630bn or +0.4% in three months and +6.3% in the twelve months cumulative period. Exports fell -3.3% in three months to € 32 564bn impacted by a strong decline observed in October to the European Union as regards sales of Intermediate Goods, as well as car sales and sales of automobile equipments. Exports of mechanical equipment, pharmaceutical products and food and agriculture industry products recorded a lesser negative impact. In twelve months exports dipped -0.5% In October, the biggest trade gaps were observed by the Consumer Goods group € -1 093bn, the Automobile Industry €-598mn, Intermediate Goods €-1 755bn, and Energy Products €-5 259bn. Agriculture products recorded €345mn trade surplus, the Food and Agriculture Industry sector €313mn, and professional Capital Goods €171mn. Per region, France recorded a trade surplus with the Middle East € 51mn while the trade deficit with Europe rose to €- 4 444bn, with the EU 24 to €- 3 110bn and with the Euro area to €- 3 801bn. The trade gap also widened with Asia € -2 689bn, with Africa to €-446mn, and with the US to €-226mn. Per country, the external trade gap worsened with Germany € -1 983bn, Spain € -23mn, Italy € -284mn, the Netherlands € -201mn and Sweden -44mn. However, the trade surplus rose with the UK € 707mn, Denmark €10mn, and Switzerland €139mn.

PRODUCER PRICES fell -0.8% compared with the previous month similarly to the Euro area’s but dipped -1.4% in the EU 27. In the Euro area, the strongest producer price cuts were recorded by energy -2%(-4% in the EU 27) and intermediate goods -1% while capital goods prices stayed flat. Durable consumer goods prices grew +0.3% while Non Durable consumer goods producer prices fell -0.1% In October, the strongest producer prices cuts were observed by Denmark -5% the UK -4.2% and Greece -2.8% . Prices stayed flat in Germany but rose +0.9% in Slovakia and +1.2% in Hungary.

Source: Eurostat

FARM PRODUCTS PRODUCER prices declined for the fourth consecutive month -2.6% and dipped -8% in one year. Compared with the previous month, the vegetable products prices index decreased by 7.3% due to cereals -16.3% , soft wheat -15.8% barley -16.1% and corn -17.4% The potato price index dipped -5.7% oil seeds -12.3% and protein seeds -9.9% The vegetables and fruit prices index by contrast remained upwards +5.5% with fruit prices up +3.1% and vegetables +5.1% The animal products prices index rose +2.6% pushed up by pork meat and eggs gaining each +3.5% On the same period, the wholesale price index grew a modest +0.3% (+1.6% last month) due to the fruit price index +3.9% vegetables +7.3% while the meat price index fell substantially -2% due to the pork meat index -5.7% veal -4.7% and beef -3.9% along with the eggs and dairy products prices index -1% pushed down by butter -18.2% and seafood products -5.9%

Source: Insee

HOUSEHOLD CONSUMPTION of manufactured products fell -0.4% (+0.5% in September ) as sales out of the Commerce sector rescinded -0.3% along with Durables Goods -0.4% with automobile sales down 0.9%. Only sales of household equipment stayed quasi stable or +0.2% while sales of textile leather products decreased by 0.6% and other manufactured products -0.6%

Source: Insee 

In one year, overall household consumption of manufactured products rose a modest +0.7% with sales of the Commerce sector down 0.2%. Sales of Durable Goods stayed strong +3.2% with car sales up 1.9% and household equipment a vibrant +4.7% Sales of textile-leather products fell -0.1% and other manufactured products -0.1%

COMPANY CREATIONS fell -1.1% to 26 360 formations compared with the previous month impacted by general declines for the second consecutive month: the Food and Agriculture Industry sector saw new companies fall -3.6% Intermediate Goods -9.3% Real Estate -10.4% Construction -3% Commerce -0.3% Transport -4.5% Services to Companies -1% and Services to Individuals -1.3% with café-hotels-restaurants up a modest +0.5%

Source: Insee

Only three sectors, the Food and Agriculture Industry, Education-Health-Social Services and Services to Companies recorded positive figures respectively +42.4% +3.7% and +0.5% In one year, overall formations (in gross figures) climbed +5.3% as most sectors recorded strong formations, with the exception of Consumer Goods -4.8% and Capital Goods -7% Intermediate Goods new businesses rose +2.6% Construction +2.1% Commerce +2.7% Transport +7.4% Real Estate +0.5% Services to Companies +9.5% Services to Individuals +6.1% with hotels-cafés and restaurants +4.8% and Education-Health-Social Services +14.9% 

New PASSENGER CAR REGISTRATIONS tumbled -14.5% in Europe in October year on year and fell -5.4% from January to October. Registrations declined for six consecutive months as a direct result of a global economic slow down. In October, registrations plummeted -15.5% in Western Europe year on year to 1 034 955mn new cars, fell -3.2% in new East European member states and -14.5% in the EU. All markets recorded significant market declines, except Austria +4% The hardest market drops were recorded by Ireland where registrations plummeted -54.6% in Spain -40% the lowest since 1995. New car sales in the UK tumbled -23% in Sweden -22.7% and in Denmark -22.1% France’s car market dipped -7.4% and Germany’s -8% Out of EFTA countries, car sales collapsed -85% in Iceland and -28% in Norway. 

Source: ACEA

New east European member states fared slightly better with new car sales rising +12.3% in Poland, +18.5% in Slovakia and +7% in the Czech Republic. By contrast, the hardest declines were recorded by Latvia -55.1% Lithuania -24.5% Hungary -16% and Romania -10.6%. On a cumulative ten month period since January, new car sales declined each -6% in western Europe and in EFTA countries but rose +2.5% in new east European member states. France’s new passenger car registrations rose +2.2% while sales dropped -23.8% in Spain, -8.8% in the UK -18.2% in Ireland and -12% in Italy. On the same period and out of Nordic states, sales only rose in Finland +7.5% and fell -11.7% in Sweden, -12.5% in Norway, and a less drastic -0.3% in Denmark. Sales dived -35% in Iceland. Per car manufacturer in western Europe, France’s PSA Group sales fell -16.7% Renault Group -18.6% in October year on year and in ten months respectively decreased by 6.4% and 2.9% Positive car sales figures year on year to October involved few groups among which VW’ Audi +3.6% Renault Dacia +78.9% Fiat Lancia +6.7% and Jaguar +19.5%. The hardest drops involved GM -50% and Land Rover -52.2% In Total Europe, and on a ten month cumulative period, best performers included Dacia +11.7% Fiat included Ferrari and Maserati +18.7% BMW Mini +5.9%Daimler Smart +11.7% Nissan +13.4% Mazda +6.3% and Jaguar +16.3%

The EURO AREA annual INFLATION fell to 3.2% (2.6% a year ago) and monthly Inflation stayed flat. The lowest yearly rates were observed by the Netherlands , Germany, Portugal and Ireland at 2.5% each. The highest rates involved Latvia 13.7% (14.7% last month) Bulgaria 11.2% (11.4%) and Lithuania 11.7% (11.3%) The EU 27 inflation rate stood at 3.7% from 4.2% in September (4.3% in August and 2.2% a year earlier).

In the Euro area and in October, the main components with the highest annual rates remained housing 5.9% (6.2% last month) food 4.7% (5.7%) and transport 3.7% (5.8% ) The lowest annual rates were observed for communications -2.2%, clothing 1% and recreation-culture 0.2%.

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