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KBC News Picks
US: Michigan consumer confidence deteriorates further
Mon, Nov 16 2009, 08:38 GMT
by KBC Market Research Desk
KBC Bank | View company's profile
University of Michigan consumer confidence dropped for the second consecutive month in November. The headline index fell from 70.6 to 66.0, while a marginal improvement was forecasted. The breakdown shows deterioration in both the economic conditions (69.6 from 73.7) and economic outlook (63.7 from 68.6). The jobless rate which jumped above 10%, to a 26-year high, is weighing on consumer sentiment in the United States.
In September, the US trade balance showed a significant widening in the deficit, while the consensus was looking for only a slight increase. The trade deficit expanded from a revised $30.8B to $36.5B, while the consensus was looking for a deficit of $31.8B. Looking at the details, exports rose for the fifth consecutive month (by 2.9% M/M), while imports increased by 5.8% M/M. Excluding petroleum, the trade deficit rose from $14.3B to $15.9B, which indicates that the expanding deficit was only partially oil-related. This outcome suggests a slight downward revision in third quarter GDP.
EMU: euro zone economy climbs out of recession
In the third quarter, the euro zone economy climbed out of recession after five consecutive quarters of negative growth. According to the advance estimate, euro zone GDP expanded by 0.4% Q/Q, slightly below the consensus estimate of 0.5% Q/Q. National details showed that growth in Germany and France accelerated, while Spanish GDP stayed in negative territory for the sixth consecutive quarter. Next month, we will receive the breakdown, which will give us a more complete view.
Published on Mon, Nov 16 2009, 08:46 GMT
Archive
- US: CPI stayed flat in February restrained by energy
Published On Fri, Mar 19 2010, 08:08 GMT - US: PPI falls more than expected on energy
Published On Thu, Mar 18 2010, 08:26 GMT - US: Industrial production unexpectedly rose in February
Published On Tue, Mar 16 2010, 08:10 GMT - US: Core Retail sales surge, as the consumer kicks back
Published On Mon, Mar 15 2010, 08:36 GMT - Other: UK trade deficit biggest since August 2008
Published On Wed, Mar 10 2010, 08:43 GMT
Legal disclaimer and risk disclosure
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
Continued Economic Recovery, Low Inflation by Wells Fargo Investments, LLC
Fri, Mar 19 2010, 19:58 GMT
Discount rate discussions keeping floor under bonds by Interactive Brokers LLC
Fri, Mar 19 2010, 14:29 GMT
GoldCore Update: Sterling Gold Near Record Highs as Election Looms and Economic Outlook Uncertain by GoldCore
Fri, Mar 19 2010, 14:28 GMT
Political jitters on the rise in EMEA markets by Danske Bank A/S
Fri, Mar 19 2010, 14:13 GMT
Canada: Core CPI above target in February by National Bank of Canada
Fri, Mar 19 2010, 13:19 GMT
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