(RTTNews) - Thursday, external trade data was released from Germany and UK. The German trade surplus declined in August, while the UK trade deficit narrowed slightly. Further, survey data showed that UK house prices fell the most since 1983.

Eurozone

The German trade surplus declined more than expected in August as exports slipped for the second consecutive month. This was the smallest trade surplus recorded in year 2008. The Federal Statistical Office reported that the largest Eurozone economy recorded a trade surplus of EUR 10.6 billion for August, smaller than July’s EUR 13.8 billion. The surplus stood below EUR 12 billion as expected by economists.

The Federal Statistical Office also announced that the German wholesale price index increased 5.8% year-over-year in September, slower than the 7.4% recorded in the previous month. Wholesale price inflation in September matched economist’s expectation.

Germany’s statistical agency said in another report that the manufacturing turnover in real terms increased working day adjusted 2.2% year-on-year in August, recovering from a revised 1% decline recorded in July.

The Statistics Netherlands announced that consumer price annual inflation dipped to 3.1% in September from 3.2% in August. The September number matched economists’ expectations. In July, the inflation rate had moved above the 3% mark for the first time since 2002. The Netherlands continued to enjoy the lowest inflation rate in the Eurozone. The inflation rate based on the Harmonized CPI or HICP was 2.8% in September, much lower than the Eurozone’s initial number of 3.6%. The HICP inflation for the country was down from 3% recorded in August.

Ireland’s Central Statistics Office said manufacturing output rose an unadjusted 4.2% year-on-year in August, recovering from a 6% decline recorded in July.

Rest of Europe

UK house prices showed the biggest decline since 1983, a report from the Halifax showed. The annual rate of house price inflation, measured by the average price over the three latest months compared with the same period a year earlier, declined 12.4% in September. This was the largest fall in 25 years. Economists had predicted house prices to decrease 12.5%.

UK’s total trade deficit narrowed slightly in August after widening in July, official data showed. The Office for National Statistics revealed that the UK’s deficit on trade in goods and services narrowed to GBP4.7 billion in August from a revised deficit of GBP4.8 billion in July. Meanwhile, the trade deficit stood above the expected shortfall of GBP4.5 billion. The ONS has revised the deficit for July from GBP4.6 billion. On the other hand, the visible trade deficit in August was GBP8.2 billion, unchanged compared with July.

A report from the Statistics Sweden showed the annual inflation rate climbed to 4.4% in September from 4.3% in August and 4.1% in July. Economists had expected a rate of 4.2%. Meanwhile, the HICP rose 4.2% year-on-year compared with a 4.1% increase in August.

Additionally, the Statistics Sweden said the Activity Index declined seasonally adjusted 0.12% month-on-month in August, reversing a 0.12% gain recorded in July.

The Statistics Denmark announced that the current account surplus accounted for DKK6.7 billion in August, larger than the DKK4.1 billion in July. Meanwhile, economists had expected the current account surplus to remain unchanged from the previous month. A separate report by Statistics Denmark said the trade surplus of the country increased to DKK 2.99 billion in August from DKK 2.74 billion in July.

The Czech Statistical Office said industrial production decreased 2.6% year-on-year in August, reversing a 6.7% rise recorded in July. The consensus forecast was for an annual decrease of 1.9%.

Hungary’s trade deficit for August stood at EUR 104 million, the statistical office said in a preliminary report. Economists had expected a deficit of EUR 155.5 million. In July, the trade deficit was EUR 365.1 million.

In other news, Iceland’s Financial Supervisory Authority or FME said it is taking control of Kaupthing, one of nation’s leading banks. The agency said the measure is to ensure continued commercial bank operations in Iceland.

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