Japanese Economy And German Producer Prices Rise

Japan: Economy Rises Very Quickly

The Japanese economy “ran” with the fastest pace in a year in the quarter January - March, as business investments increased slightly.

Private consumption, investments in the housing market and exports also moved upwards.

According to data released today, GDP in the third largest economy in the world increased by 2.4% on an annualized basis instead of + 1.5% that was expected by the analysts.

In the quarter October - December 2014, the growth stood at 1.1%.

The growth of 2.4% that was recorded in the first quarter of 2015 in Japan was higher than the + 0.2% of USA and +1.6% of Eurozone, with that being an indication that Japan is recovering steadily from last year's recession.

Producer Prices Rise In Germany

Producer prices in Germany rose slightly for the third consecutive month in April, due to price increases in fuels and heating oil. However, on an annual basis they remain reduced.

According to the federal statistics office, Destatis, prices rose by 0.1% compared to March, while compared to April of 2014 they fell by 1.5%.

Economists had expected a monthly increase of 0.2% and an annual decrease of 1.4%.

Turkey: Wage Increases Demanded By Workers In The Automotive Industry

Strikes begun by the employees in the Renault (PARIS:RENA)'s premises and also in the automotive industry Tofas (IS:TOASO) in Turkey, who are demanding wage increases.

Tofas established as a joint venture between local and Italian automaker Fiat (MILAN:FCHA) and is the sixth largest industrial business in Turkey, with production capacity of 400,000 cars per year, giving work to 6,500 employees.

The automaker produces on behalf of Fiat the model Linea, the van Doblo and as well as other car models on behalf of carmakers Peugeot (OTC:PUGOY), Citroen and Opel.

Tofas showed sales of $2.9 billion in 2014 and net profits of $221.9 million.