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US: Consumer confidence declines further
Wed, Apr 30 2008, 08:17 GMT
by KBC Market Research Desk
next report will be published on monday may 05, 2008
US consumer confidence as measured by the conference board dropped to 62.3 in April from an (upward revised) 65.9 in March. The present situation index again showed a steep decline from 90.6 to 80.7. The expectations index improved slightly from 49.4 to 50.1. Lacklustre business and job conditions but also rising gasoline prices cause consumers to make a more negative assessment on the economy.
EMU: Spanish and Belgian CPI confirm lower German inflation data
Following the downward surprise in the German inflation data, the Spanish and Belgian CPI declined too in April. In Spain, the headline inflation rate fell from 4.6% Y/Y in March to 4.2% in April and in Belgium from 4.39% to 4.15%. All together, these inflation data suggest that today’s flash CPI may come out at 3.3% or even 3.2% from 3.6% last month.
Other: UK CBI distributive trades report collapses
In the UK, the CBI distributive trades report showed that a balance of 26% of the retailers said that volumes were down compared to a year ago, the weakest since November 2005 and compared to an expected 3%. Also next month sales are expected to fall. The CBI attributed part of the weakness due to the timing of Easter, which fell in April last year, and to the wet weather compared to last year. Looking at the sector in detail, household goods reported the weakest sales balance, which suggests that the downturn in the housing market is having an effect on consumer spending. In this context, the fall in the mortgage approvals to a record low at 64K and the slowing in net lending secured on dwellings in March does not bode well for the outlook for consumer spending and for the UK economy in general.
Published on Wed, Apr 30 2008, 09:00 GMT
Archive
- US: Eco data give no signs of clear improvement yet
Published On Fri, May 16 2008, 09:52 GMT - US: Inflation slows in April
Published On Thu, May 15 2008, 08:02 GMT - US: Import prices and retail sales higher than expected
Published On Wed, May 14 2008, 08:15 GMT - EMU: Retail sales continue to disappoint
Published On Thu, May 8 2008, 07:41 GMT - EMU: PMI results confirmed
Published On Wed, May 7 2008, 07:33 GMT
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