Germany’s SA Unemployment Falls Below 3 Million In April


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Spain’s Santander: Sees bad debts near their peak in Spain

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Happy Dayz, onwards and upwards...... Elsewhere, ECB funding to Greek banks at 90.4 bln end-Feb from 94.4 bln end-Jan.

Germany’s SA Unemployment Falls Below 3 Million In April

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SA Unemployment: -37k (pan-German), -26k (West), -11k (East) MNI survey median: -40k m/m MNI survey range: -50k to -20k m/m -- FRANKFURT (MNI) - The ranks of the unemployed in Germany declined for the 14th consecutive month in April, albeit slightly less than most analysts expected, the Federal ...

BOE Sentance Sees Danger Of ‘Upward Creep’ In Inflation Rates

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LONDON (MNI) - Bank of England Monetary Policy Committee Member Andrew Sentance has repeated his call for a gradual increases in Bank Rate to cap what he sees as the danger of an upward drift in inflation expectations. "The danger ...

ITALY DATA: April business confidence fell to 103.0..

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ITALY DATA: April business confidence fell to 103.0 from a 3-year peak in March on worsening output and order expectations, with inventory levels also down slightly from the previous month, ISTAT said. --ISTAT's April SA index stood at 103.0, down from 103.5 in March (revised from 103.8 and the highest level since Feb08). --See headlines ...

GERMANY DATA: Germany April SA unemployment rate…..

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GERMANY DATA: Germany April SA unemployment rate 7.1% (MNI median 7.0%) -- Germany April sa unemployment 2.970 mln vs March 3.007 mln -- Germany April sa unemployment -37k (MNI median -40k) -- Germany April nsa unemployment 3.078 mln vs March 3.210 mln -- Germany April sa job vacancies +13k vs March +9k -- Germany April ...

ECB’s Mersch: ECB will continue gradual exit from non-standard measures at appropriate pace

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ECB never takes measures aimed at supporting banks in one particular country Restructuring banks not task of central bank

Italy April business confidence falls to 103.0

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Down from revised 103.5 in March (prev 103.8), weaker than median forecast of 103.8.

German April s.a jobless total -37k to 2.970 mln

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Compared with median forecast of -30k. Adjusted unemployment rate steady at 7.1%.

EUR/USD touch easier on day

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Presently at 1.4840. BIS was earlier seen selling above 1.4850. On the flip side, Asian central bank purchases below 1.4830 have helped slow the decline so far. Outside that, trailing sell stops seen though 1.4800, barrier option interest up at 1.4900.

BOE’s Sentance says sees signs higher inflation starting to affect wages, price-setting

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Japan Mar Data Wrap -2-: Govt Drafts Reconstruction Budget

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TOKYO (MNI) - To help alleviate downside risks stemming from the quake, the government of Japanese Prime Minister Naoto Kan drafted last Friday the first supplementary budget for fiscal 2011 totalling Y4.015 trillion. The government will finance the extra budget ...

Japan Mar Data Wrap -1-: Severe Quake Impact; BOJ Cuts Fcast

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TOKYO (MNI) - Japan's industrial output tumbled at a record pace in March and households slashed spending as the last month's quake disrupted supply chains, while discouraging consumer confidence and prospects for the job security, the latest government data showed. ...

BOJ’s Shirakawa: Nishimura’s proposal was to increase asset buying from 10 trln

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Nishimura said need to prevent negative impact of quake from strengthening Others said need to examine effect of March easing on economy Output gap in economy to improve as supply constraints ease in early Autumn Well aware that strong uncertainty exists in economic outlook Demand in economy to pick up as supply constraints ease

FRANCE DATA: March sa consumer spending on mfg gds…

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FRANCE DATA: March sa consumer spending on mfg gds -0.7% m/m, +2.6% y/y -- Below most analysts' forecasts; MNI survey median: +0.3% m/m -- 1Q consumer spending +1.2% q/q; 4Q +1.8% q/q -- February spending unrevised at +0.9% m/m -- For more information, please see MNI MainWire

French March consumer spending -0.7% m/m

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Demonstrably weaker than median forecast of +0.2%.

Germany’s Import Prices Rise By Less Than Expected In March

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March: +1.1% m/m, +11.3% y/y MNI survey median: +1.7% m/m, +11.9% y/y MNI survey range: +0.8% to +1.8% m/m February: +1.1% m/m, +11.9% y/y FRANKFURT (MNI) - Import prices in Germany rose further in March, though less than generally expected, as cheaper capital goods imports partially ...

Germany’s ILO Employment Hits New Record High In March

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-- Mar +39k, Feb +47k, Jan +72k, Dec +55k, Nov +59k, Oct +1k FRANKFURT (MNI) - The German economy continued to churn out new jobs in March, as employment levels rose for the 14th consecutive month to hit a new all-time high, the Federal Statistical Office ...

GERMANY DATA: March import prices +1.1% m/m, +11.3%..

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GERMANY DATA: March import prices +1.1% m/m, +11.3% y/y; February +11.9% y/y, the Federal Statistical Office reported on Thursday. -- Germany March import prices below MNI median m/m fcast (+1.7%) -- Germany March export prices +0.3% m/m, +4.9% y/y; February +5.4% y/y -- Germany March ex-oil/oil products unch m/m, +7.7% y/y ...

GERMANY DATA: March ILO sa employed 40.751 mln; +39k.

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GERMANY DATA: March ILO sa employed 40.751 mln; +39k m/m: stats office -- Germany March ILO sa unemployed 2.73 mln; -30k m/m: stats office -- Germany March ILO sa unemployment rate 6.5%; February 6.6% -- For more information, please see MNI MainWire

Japan March Construction Orders -11.0% Y/Y, 1st Fall in 2 Mo

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TOKYO (MNI) - The value of construction orders received in March by the 50 largest contractors in Japan fell 11.0% from a year earlier to Y2.0 trillion, the first y/y fall in two months, the Ministry of Land, Infrastructure, Transport and Tourism said on Thursday. ...

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