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World consumer confidence follows U.S. down

Posted Jul 15th 2009 2:30PM by Tom Johansmeyer (RSS feed)
Filed under: International markets, Bad news, Economic data

I guess that when the United States sneezes, the world catches a cold. Consumer sentiment was announced to be circling the drain in the United States and the world economy dropped for the first time in four months.

The Bloomberg Professional Global Confidence Index fell to 39.13 this month – from 43.57 last month. Your benchmark: anything below 50 means that there are more pessimists than optimists. In the United States, index fell from 36.7 to 29.5, suggesting that we're more pessimistic than the rest of the world.

Continue reading World consumer confidence follows U.S. down

Confidence in global economy remains near record low

Posted Nov 12th 2008 10:00AM by Joseph Lazzaro (RSS feed)
Filed under: International markets, Bad news, Recession

Confidence in the global economy remained near record lows in November, as business professionals anticipated a global economic recession, a new Bloomberg News survey released Wednesday indicated.

The Bloomberg Professional Global Confidence Index, which surveys 3,550 users, stood at 6.6 compared to 4 in October. A reading below 50 indicates negative sentiment. Meanwhile, the country-specific U.S. index rose to just 6.9 in November from 5 in October.

Economist Peter Dawson, who was not a part of the survey, told BloggingStocks Wednesday the November reading indicates that sentiment by business professionals is in-sync with macroeconomic fundamentals.

"This is the toughest stretch for business conditions in quite some time. Almost every indicator except some regional trade flows, and commodity prices, is trending in a bearish direction. In the U.S., business investment and consumer spending will continue to weigh on quarterly earnings and U.S. GDP," Dawson said. "On the consumer side, we're going to see a stretch of reduced consumer spending that probably will be worse than the 1981-82 Reagan Administration recession."

Continue reading Confidence in global economy remains near record low

Confidence in global economy rises from 10-month low

Posted Aug 13th 2008 10:30AM by Joseph Lazzaro (RSS feed)
Filed under: International markets, Forecasts, Economic data, Recession

Confidence in the global economy rose in August as oil prices retreated, a new survey of business professionals indicated. The Bloomberg Professional Global Confidence Index climbed to 14.1 in August from 10.3 in July. The July reading was the lowest since the survey began in November 2007. Readings below 50 indicate negative sentiment.

Economist Glen Langan, who did not participate in the Bloomberg survey of about 3,000 Bloomberg Terminal users, said investors / traders "should not attach too much positive sentiment to results."

"First, the survey was at an all-time low in July. Second, we have seen a $30 drop in oil prices, so I would sense that there would be some relief expressed in surveys of financial professionals, executives, and the like," Langan said. "Economic conditions, particularly in the U.S., are sluggish to poor, and the survey generally reflects that."

Oil traded up 80 cents to $113.81 early Wednesday, but has dropped about $34 since hitting a record high of $147.27 on July 11, 2008.

Focus on U.K., E.U.

Langan said the focal point for economists is now the United Kingdom and the European Union. For example, in his projections, Langan has already discounted that the U.S. economy will remain sluggish through at least Q2 2009, but he still sees 1.5-1.9% GDP growth in the United Kingdom, and 2.0% GDP growth in the E.U. for 2009.

Continue reading Confidence in global economy rises from 10-month low

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Last updated: November 26, 2009: 04:53 PM

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