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US: Personal income rebounds in August
Tue, Sep 30 2008, 09:48 GMT
by KBC Market Research Desk
In August, personal spending came out weaker than expected at 0.0% M/M; while the July figure was downwardly revised from 0.2% M/M to 0.1% M/M. The PCE deflator came out in line with the expectations at 4.5% Y/Y and 0.0% M/M. Personal income surprised on the upside in August coming out at 0.5% M/M, while the consensus was looking for a figure of 0.2% M/M. The July figure was slightly upwardly revised from -0.7% M/M to -0.6% M/M. The savings rate deteriorated from 1.9% M/M to 1.0% M/M after reaching its peak (5.0% M/M) in May.
EMU: Business climate indicator on lowest level in five years
The euro zone economic confidence index dropped from a downwardly revised 88.5 in August to 87.7 in September, while the consensus was looking for an outcome of 87.3. Looking at the details, consumer confidence stayed unchanged at -19, while business (-12 from -9), services (0 from 1) and construction (-16 from -13) confidence deteriorated. Retail confidence (-8 from -10) was the only sub-index showing an improvement. Overall, prices were lower and labour market conditions deteriorated. The EU business climate indicator showed a more significant decline (-0.79 from -0.28), coming out at the lowest level in more than five years.
Published on Tue, Sep 30 2008, 09:52 GMT
Archive
- US: manufacturing ISM shows deepening recession
Published On Tue, Dec 2 2008, 08:30 GMT - EMU: CPI inflation falls sharply in November
Published On Mon, Dec 1 2008, 08:15 GMT - EMU: Economic sentiment falls to 16-year low
Published On Fri, Nov 28 2008, 08:39 GMT - US: durables show that firms are slashing sales
Published On Thu, Nov 27 2008, 08:30 GMT - US: Third quarter GDP contracts by 0.5%
Published On Wed, Nov 26 2008, 08:48 GMT
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This non-exhaustive information is based on short-term forecasts for expected developments on the financial markets. KBC Bank cannot guarantee that these forecasts will materialize and cannot be held liable in any way for direct or consequential loss arising from any use of this document or its content. The document is not intended as personalized investment advice and does not constitute a recommendation to buy, sell or hold investments described herein. Although information has been obtained from and is based upon sources KBC believes to be reliable, KBC does not guarantee the accuracy of this information, which may be incomplete or condensed. All opinions and estimates constitute a KBC judgment as of the data of the report and are subject to change without notice.Related reports
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