Germany Inflation Rate Hits 13-Month High
Germany’s consumer price inflation rate is expected to pick up to 1.7 percent year-on-year in March 2021, the highest since February 2020 and in line with market expectations, a preliminary estimate showed. Goods prices should advance at a faster pace (1.9 percent vs 1.0 percent in February), boosted by a jump in energy cost (4.8 percent vs 0.3 percent) and a larger increase in food prices (1.6 percent vs 1.4 percent). In addition, services inflation is likely to accelerate to 1.6 percent from 1.4 percent, adding to signs of a gradual recovery in domestic demand. On a monthly basis, consumer prices are expected to advance 0.5 percent in March, compared with a 0.7 percent climb in February.
Coffee Hits 5-week Low
Coffee decreased to a 5-week low of 125.15 USd/Lbs
Silver Hits 10-week Low
Silver decreased to a 10-week low of 24.189 USD/t.oz
Spain Industrial Morale Rises in March
Spain’s industrial confidence indicator rose to -3.7 in March of 2021 from -6.4 in the previous month. There was an improvement in the level of new orders (-9.5 vs -13.9 in February) and output expectations (-1.4 vs -3.4). Also, the stock of finished products decreased (0.2 vs 2.1).
Greek Producer Prices Fall the Least in 13 Months
Greece’s producer prices decreased 0.03 percent from a year earlier in February of 2021, the smallest in the current 13-month period of decline and easing from a 5.4 percent drop in the previous month. Cost fell for energy (-1.2 percent) and non-durable goods (-0.1 percent) while prices rose for durable goods (0.5 percent); intermediate goods (2.4 percent) and capital goods (2.5 percent). On a monthly basis, producer prices climbed 3.3 percent, extending a 2.3 percent rise in January.
Macau Trade Gap Widens Sharply in February
Macau’s trade deficit widened to MOP 7.03 billion in February 2021 from MOP 2.96 billion a year earlier. Year-on-year, exports dropped by 16.8 percent to MOP 729 billion, dragged down by sales of textiles & garments (-58.4 percent) and non-textiles (-10.3 percent). Simultaneously, imports surged 102.8 percent, having more than doubled to MOP 7.76 billion mainly due to an increase in purchases of gold jewellery (640.5 percent), mobile phones (528.8 percent), handbags & wallets (417.7 percent) and garments & footwear (191.0 percent).