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ECONOMIC DATA THIS WEEK

European Industrial Output, February 2015:  Data from Eurostat shows that total industrial production in the euro-zone was +1.1 higher than in January and grew by +1.6% compared to February 2014;  for the EU28 as a whole, output was +0.9% higher than in January and +1.4% higher than a year earlier.

Output of Capital Goods in the euro-zone increased by +1.0% over the January level, with growth of +0.9% for the EU28 as a whole;  compared to February 2014, Capital Goods production grew by +1.1% in the euro-zone and +1.7% for the EU28 as a whole.

Looking at the 12 moth comparison, among the 24 countries for whom the data is available, total industrial production grew in 18 and fell in 6; the fastest growth was in Ireland (+30.3%) and Netherlands (+6.6%), with the largest reduction being in Finland (-5.2%).

You can get the Eurostat News release from their web-site at http://ec.europa.eu/eurostat or on request from MTA.

USMTO and US CTMR, February 2015:  The US Manufacturing Technology Orders (USMTO) programme tracks orders received in the US market, irrespective of origin;  the numbers in this report are based on the totals of actual data reported by companies participating in the USMTO programme.  Over the first two months of the New Year orders are -9.8% down on the same period last year (January & February 2014).

The regional breakdown is only available for 4 of the 6 regions, with partial data for the other two;  the data suggests that orders fell in 4 regions, with business in the South Central region having a fall of -51.5%, while only two regions are in positive territory, North Central West being the strongest at +26.5%

The US Cutting Tool Market Report (CTMR) tracks sales of cutting tools in the US and covers about 80% of the market.  Sales in February were -2.3% lower than in January, but +1.6% higher than February 2014;  the year to date total is +2.2% higher than in the first 2 months of 2014 (there is no regional breakdown of this series).

You can download the News Releases on these two reports from the AMT web-site at www.amtonline.org or request them from MTA (we have a small mailing list for these surveys and can send them to you each month as they are released).

European Investment & Profitability, 4th Quarter 2015:  The first release of sector data by Eurostat shows that the business investment rate (defined as gross fixed capital formation divided by gross value added) in the euro-zone was stable at 21.9%, but was higher than the 21.6% registered at the end of 2013.

The seasonally adjusted profit share in the euro-zone was 38.7%, down from the 39.1% recorded in the previous quarter and 39.5% in the final period of 2013.  Both of these series will be updated in the 2nd release of data which will also include the figures for the EU28 as a whole - this is due at the end of the month.

You can get the Eurostat News release from their web-site at http://ec.europa.eu/eurostat or on request from MTA.