• According to Ministry of Finance euro could be adopted in 2012. At the same time the convergent program was revised. It calculates with public budgets deficit 4.0% of GDP this year instead of previous 3.3% of GDP.
• Germany’s GDP in the 4Q06 increased by 0.9% after 0.8% growth in the 3Q06. GDP growth rate accelerated from 2.6% to 3.5% y/y. Increase of exports contributed most to german economy growth.
• Eurozone’s current account deficit in 2006 deepened to EUR 16.2bn from EUR 6.8bn in 2005. High prices of oil and other raw materials were the main reason. In relation to GDP, deficit remains very low as it is only 0.2% of GDP.
• Consumer prices index in the USA increased in January by 0.2% mainly because of higher food prices. Inflation decelerated to 2.1% from 2.5% y/y.
• On the other hand, consumer prices in France decreased by 0.4% and lower prices of fuels and clothes were in the main role. Year-on-year inflation is currently mere 1.4%.
• Spanish economy increased its output by 3.9% in 2006. In the 4Q06 GDP grew by 4.0% after 3.8% growth in the 3Q06.
• „Lift trust“ has been fined with the highest fine in the EU so far. Fine in the amount of EUR 992m was granted by European Commission because producers concluded agreement on overestimating costs on lift construction and maintenance.