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GEW October 9, 2009

UK: The index of Output Prices rose 0.5%mom in September, the seventh straight month of increase to be higher 0.4% on an annual basis, the first annual gain since April this year. Core output prices rose 0.5% over the month to be higher by 1.4% over the year. Input Prices fell 0.5%mom in September after having been up 2.0% in August. Annual input prices remained negative, down 6.5% compared with September last year. Core input prices rose 0.6% in September but were lower by 1.7%yoy, the fourth straight month prices have remained lower on an annual basis.

FRA: Industrial Production surged 1.8% over the month in August after a 0.3%mom increase in July to be much better than market expectations of a 0.3%mom increase, though output still remained lower by nearly 12.0% (11.8%yoy) over the year. Manufacturing output jumped 1.9%mom in August on the back of a 0.8% monthly gain in July but was down nearly 13.0% over the year. The monthly surge in manufacturing activity came from transport equipment manufacturing which jumped 11.0%mom in August from a marginal 0.3% growth in the previous month. Mining output rose 1.9%mom after having been depressed 2.6% in July. Output in electricity generation, food and beverage production, production of petroleum products and in construction all weighed down on the index.