Industrial Output index, Household Consumption of Manufactured Products, Producer Prices Index, GDP, New Passenger Car Registrations, Consumer Prices index, Farm Products Producer Prices index, Construction Output index, External Trade, Order Books index
INDUSTRIAL OUTPUT INDEX
Core output plunged -6.9% compared with the previous quarter as a direct result of the economic downturn leaving manufacturing output to tumble -8.3% . All industrial heavy weights recorded massive production gaps throughout the quarter : output of Intermediate Goods decreased by 11.4%, and the Automobile Industry by 11.8% The Food and Agriculture Industry recorded a lesser decline -1.9% unlike the production of Durable Consumer Goods -5.1% and Non Durable Consumer Goods -4.6% as all sub components observed drastic production cuts.
Along the quarter, the month of January recorded the hardest production cut as output was frozen at major industrial sites. Core output dipped -3.9% and manufacturing -5% The Food and Agriculture Industry production fell -2.4%, Intermediate Goods -3.4% Durable Consumer Goods -2.1% and Non Durable Consumer Goods -3.3% The Automobile Industry remained the exception, +3% due to the end, although temporary, of long periods of days not worked averaging five to six weeks among major car makers.
HOUSEHOLD CONSUMPTION OF MANUFACTURED PRODUCTS
Consumer consumption rose a modest +0.3% to EURO 21 906 billion compared with the previous quarter with sales of the commerce sector dipping -0.7% to EURO 15 492 billion. Sales of Durable Consumer Goods rose +2.3% due to car sales +4.6% to EURO 3 106 billion boosted by car fleet renewals. Purchases of household equipment mild +0.6% that same quarter contrasted with their investment decision and demonstrated consumers‘ arbitration for indispensable items.
PRODUCER PRICES INDEX
Industrial producer prices on the domestic market declined -4.4% compared with the previous quarter pushed down by the economic downturn as order books remained at minimalist levels. In the Euro area, producer prices fell -3.2% for similar reasons. Along the quarter, January recorded the strongest producer price cuts: France’s fell -2.2% month on month, the Euro area’s strongest price cut, where prices declined less substantially -0.8% and in the EU 27 -0.6% Per industrial sector and in the Euro area , prices out of the Intermediate Goods group fell -1.5% (-0.6% in the EU 27) Energy prices slid -1.5% (-0.7%) Prices of the Capital Goods group stayed nearly unchanged and Durable Consumer Goods prices rose °0.4% (+0.5% in the EU 27) Non Durable Consumer Goods decreased by 0.9% (0.6%).
In the Euro area per member state, and on the same period, prices declined on average -0.8% while the EU 27 recorded the strongest price increases in the Czech Republic and Romania +1.1% each. In February, France’s, producer prices on the domestic market observed a milder cut -0.6% and aligned with the Euro area’s -0.7% and in the EU 27 -0.8% Per industrial sector, the Euro area’s prices out of the Intermediate Goods group fell -0.8 (-0.6% in the EU 27) Energy prices slid -0.6% (-0.2%) Capital Goods prices stayed unchanged in each region and Durable Consumer Goods prices rose +0.2% (+0.4%) Non Durable Consumer Goods prices decreased by 0.3% (-0.1%). In the Euro area and on the same period, member states performed similarly with the exception of Denmark’s +1.3% Hungary’s +2.4% Poland’s +1.5% and Romania’s +0.7%.
NEW PASSENGER CAR REGISTRATIONS
Passenger car registrations fell -3.9% compared with the previous quarter but collapsed -17.2% in total Europe impacted by east European member states -28.6% market car collapse, EFTA’s -21.9% and the EU 15 -16.2% In the first quarter and year on year, best performers counted only two member states Germany +18% and Poland +1.3%. Sales in the UK tumbled -29.7%, in Spain -43.1% and Italy -19.1%. Ireland recorded worst performance -64.9%. On the quarterly period to March and year on year, Peugeot market penetration fell to 12.6% from 12.9% with total sales down -19.2% Renault sales decreased by 21.7% with market penetration at 8.1% compared with 8.6%. Alfa Romeo and Hyundai posted best results with sales respectively climbing +12.5% (market share rose to 2.4% from 1.8%) and +20.1% (market share rose to 0.8% from 0.5%). The quarter recorded deteriorating sales, and to abysmal levels : in January new car sales in France fell -7.9% year on year while major trade partners recorded stronger car sales contractions: in Germany, registrations decreased by 14.2% in Spain by 41.6% in Italy by 32.6% and in the UK by 30.9% As a result, total sales in Europe worsened and plummeted -27% In the EU 15, car registrations fell -26.3%, tumbled -66.5% in Ireland, -43.1% in Portugal, and -46.4% in Finland. In Denmark, car sales plummeted
-46%. The car registrations market in Iceland remained at rock bottom level, -88.1% as well as in Norway -45.9% In east European member states, the car market fell harder than in the EU 27 although in Poland, along with the Czech Republic, markets declined respectively -5.3%, and -12.3% less abruptly than neighboring countries: in Latvia, car sales nose dived -77.5% in Lithuania -67.3% in Estonia -61.6% and in Romania -53.2% The month of February witnessed further market contractions as France’s new passenger car registrations dived -13.2% year on year although cushioned by motor vehicles tax reforms under fleet renewal incentives, while sales in Germany surged +21.5% due to similar bonus type motivations. Market contractions impacted east European member states more abruptly -30.3% than the Euro area -16.9% and for the second consecutive month. March finally saw France’s car market rebound, year-on-year +8% along with Germany’s superb +39.9% increase, the only positive figures out of Europe where sales collapsed for the eleventh consecutive month year on year, to -9%. East European member states recorded bigger losses, -25.4% than the Euro area and for the third consecutive month.
France’s other major trade partners, Spain -38.7% and the UK -30.5% observed market deteriorations while sales grew a modest +0.2% in Italy. In the EFTA region, sales kept nose diving in Iceland -91.5%, -20% in Norway and only decreased by 0.2% in Switzerland (-21.8% last month). In Eastern Europe, new passenger car registrations surged only in Poland +2.5%, the Czech Republic +0.9% and Slovakia +18.2% and fell the hardest in Latvia -80.3% Lithuania -69.9% Romania -64.8% and Estonia -67.8% Per car manufacturer and year on year to March, sales of Peugeot PSA fell -9.1% and Renault -10.9% with a stable market share for Peugeot 11.9% while Renault’s shrank to 8.2% from 8.4%
CONSUMER PRICES INDEX
Consumer prices in Metropole rose +0.4% and including DOM TOM (Overseas Departments) stayed nearly unchanged or +0.2% compared with the previous quarter. However, yearly inflation to March stood at 1.6% in Metropole and reached a record low +0.3% including DOM TOM. Out of the overall index, and in the first quarter, food prices rose +0.5% as the fresh produce prices index jumped +3.3%. In the Euro area, Annual INFLATION stood at a record low 0.6% compared with 3.6% a year ago. In the EU 27, inflation was 1.3% (3.8% last year). In March, the lowest annual rates were recorded by Ireland -0.7%, Portugal -0.6% and Luxembourg -0.3%, and the highest in Latvia 7.9%, Lithuania 7.4% and Romania 6.7%. The lowest 12-month averages up to March 2009 were registered in Portugal 1.9%, Germany and the Netherlands each 2.2%, and the highest in Latvia 13.4%, Lithuania 10.5% and Bulgaria 10.1%. In the Euro area, the main components with the highest annual rates in March were alcohol & tobacco 3.4%, "miscellaneous" 2.3% and hotels & restaurants 2.2%, while the lowest annual rates were observed for transport -4.3%, communications -1.8% and recreation & culture (0.0%).
ORDER BOOKS INDEX
Order Books fell -3.5% compared with the previous quarter as each the Euro area and the EU 27 recorded massive order books gaps respectively -11.7% and -11.9%. Compared with the same quarter of the previous year, France’s new orders plunged -29%, the Euro area’s plummeted -36.3% the EU 27 -37.6% and Germany’s, the Euro area’s heavy weight, -43.9%
France’s performance along the current quarter reflected the recessionary state of the nation along with neighboring countries. In January, France’s order books fell for the fifth consecutive month and dipped -1.1% yet slightly above the Euro area’s -2% and the EU 27 more drastic -3.5% Main trading partners observed similar declines: Germany’s orders plunged -8%, Spain’s -6.7%, Italy’s -3% and the UK -3.5%. That same month and in the Euro area, new orders of Non Durable Consumer Goods fell the hardest, -3.2% (-2% in the EU 27) followed by Capital Goods and Intermediate Goods -2.8% each (-2.9% and -4.4% in the EU 27). Orders of Durable Consumer Goods decreased by 0.8% in each region.
