Monday, French industrial production fell quicker than expected as declines in production of coke and refined petroleum products and that of electrical and electronic equipment offset an increase in the output by transport equipment. Italy's industrial output also fell exceeding expectations.


The European Central Bank said interest rates on corporate loans and households declined in March. In case of loans to non-financial corporations for a period of up to one year, the weighted average rate slipped 29 basis points to 4.03% for loan amount not exceeding EUR 1 million.

Elsewhere, ECB President Jean-Claude Trichet said the global economy is around the inflection point.

Germany's Federal Statistical Office said the real manufacturing turnover decreased a working day adjusted 22% year-over-year in March, compared with a 23.7% fall in February. On a monthly basis, manufacturing turnover increased a seasonally and working day adjusted 1.5% in March, after falling revised 4.8% in February.

Separately, the statistical office said raw steel production in metallurgical plants declined 53.1% year-over-year to 1.88 million tones in April, compared with a 49.8% fall in the previous month.

France's industrial production dropped 1.4% month-on-month in March after a revised 0.9% decline in February, according to data released by statistical office INSEE. Meanwhile, economists had forecast just a 0.5% contraction. Manufacturing production, which excludes food and energy, was down 1.1% in March.

Italy's industrial production fell 4.6% month-on-month in March, at the same pace it had fallen in February, statistical office Istat said. Meanwhile, economists had expected a 2% fall. On an annual basis, the calendar adjusted industrial production slumped 23.8% following a revised 21.2% decline in February.

The Statistical Office of the Slovak Republic announced that industrial production dropped 18% year-over-year in March, after falling 25.6% in February.

A report from the Statistical Service of the Republic of Cyprus said the harmonized index of consumer prices or HICP rose 0.6% year-on-year in April, slowing from a 0.9% increase in March.

Greece's industrial production dropped 5.3% year-over-year in March, after falling 4.6% in February. A year ago, the production was down 4.6%.

Rest of Europe

A report from Statistics Estonia showed that exports at current prices dropped 22% in March from the previous year to EEK 8.3 billion. At the same time, imports fell 30% to EEK 10 billion.

The Turkish Statistical Institute said the rate of capacity utilization in manufacturing increased to 66.8% in April from 64.7% in March, but was lower than the 81.7% in April last year.

Denmark's consumer price index or CPI rose 1.4% year-over-year in April, slower than the 1.8% increase in the previous month, Statistics Denmark announced. On a monthly basis, the CPI declined 0.1% in April, in contrast to a 0.3% increase in the preceding month.

In two separate reports, the Statistics Denmark said the country's current account balance swung to a deficit of DKK 1 billion in March from a surplus of DKK 1.3 billion in February and exports excluding ships dropped 2.8% month-on-month in March, while imports fell 5.4%.

Romania's National Institute of Statistics showed that the trade deficit in March stood at EUR 566.1 million, lower than the EUR 803 million deficit in February.

The Statistics Norway announced that the CPI rose 2.9% year-over-year in April, larger than the 2.5% increase in the previous month. On a monthly basis, the CPI increased 0.2% in April. Producer prices in Norway dropped 4.7% year-on-year in April, after a 0.3% decline in March.

Statistics Lithuania announced that the CPI rose 6.3% year-over-year in April, slower than the 7.7% increase in the previous month. A year ago, consumer prices were up 11.7%.

Latvia's Central Statistical Bureau said that the gross domestic product or GDP dropped 18% year-over-year in the first quarter, after falling 10.3% in the fourth quarter.

Bulgaria's industrial production dropped 17.1% year-over-year in March. Meanwhile, manufacturing production declined 24.1%.

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