Economic flash Advanced countries – Germany: economic sentiment deteriorates in April (ZEW survey)

In the euro areain February, the trade balance recovered (+€4.6 billion after −€31.6 billion) as well asin Italy (+€2.9 billion after +€2.0 billion). In March, inflation (HICP) fell sharply in the euro zone (+6.9% after +8.5%) as well asin Italy (+8.1% after +9.8%). In April, the Purchasing Producer Index (PMI flash) of the zone in the manufacturing sector fell (45.5 after 47.3) as well asin Germany (44.0 after 44.7) and UK (46.6 after 47.9). Conversely, in the services sector, the PMI increased in the euro zone (56.6 after 55.0) as well asin Germany (55.7 after 53.7) and UK (54.9 after 52.9). In Germanyeconomic sentiment (ZEW survey) fell in April (4.1 after 13.0). The UK, in February, the unemployment rate increased slightly (3.8% after 3.7%). In March, inflation across the Channel fell slightly (+10.1% after +10.4%).

In the USAin March, housing starts fell (−0.8% after +7.3%).

In Japan, in February, industrial production (IPI) rebounded (+4.5% after −4.9%). In March, the trade balance recovered (−¥1,210 billion after −¥1,253 billion) and inflation fell slightly (+3.2% after +3.3%).