Wednesday, 1 February 2012

Japanese industrial production rises, US consumer confidence falls

Tuesday's economic data were mixed.

The day started positively in Japan where the Markit/JMMA manufacturing PMI rose to 50.7 in January from 50.2 in December. Industrial output rose 4.0 percent in December, reversing a 2.7 percent fall in November. Household spending rose 0.5 percent in December from a year earlier, the first rise since February 2011. The jobless rate edged up to 4.6 percent in December from 4.5 percent in November but the ratio of job offers to job seekers also rose to 0.71 in December from 0.69 in November.

In the euro area, the December unemployment rate was unchanged from an upwardly-revised rate of 10.4 percent in the previous month but German retail sales fell 1.4 percent in December and French consumer spending fell 0.7 percent.

In the UK, the GfK NOP consumer confidence index rose to -29 in January from -33 in December but consumer credit posted its sharpest drop in nearly two decades in December even as mortgage approvals rose to the highest level since December 2009.

In the US, the Conference Board's consumer confidence index unexpectedly fell to 61.1 in January from 64.8 in December while the Institute for Supply Management-Chicago's business barometer declined to 60.2 in January from 62.2 in December. The S&P/Case-Shiller index of home prices in 20 cities declined 3.7 percent in November from a year earlier after decreasing 3.4 percent in October.

1 comment:

farmland investments said...

Wow, did not realize that housing prices were still falling in the US. Keep reading articles about housing being at 'the bottom'.

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