US consumer confidence sees surprise jump July 26, 2013 US consumer confidence has risen to 85.1 in July from 84.1 last month, according to figures from se the University of Michigan consumer sentiment index. Economists had forecast a slight drop to 84.0. Earlier this month a flash estimate saw consumer confidence fall from 84.1 to 83.9, despite economists predicting an increase to 85.0.
Outgoing Bank of England’s Paul Tucker will become Harvard academic July 26, 2013 The Bank of England has announced the appointment of its deputy governor for Financial Stability and MPC member Paul Tucker as a senior fellow at Harvard Kennedy School and Harvard Business School (release). As a Senior Fellow, Mr Tucker will work with faculty and students, both inside and outside the classroom, to help advance research [...]
Are we now more physically active? Social desirability bias may explain more than the Olympics July 26, 2013 Surveys can be deceiving – and that's largely because of how we answer them. There may be more to the latest BBC/ComRes poll on the legacy of the Olympic games than meets the eye. While 11 per cent of respondents said they are now more physical active as a result of the games, can we [...]
Irish central bank slashes forecasts and calls to resist easing deficit reduction plans July 26, 2013 The Central Bank of Ireland has slashed growth forecasts for 2013, cutting them from 1.2 per cent to 0.7 per cent (release). The 2012 data, along with the preliminary data for the first quarter of 2013 suggest a relatively muted recovery in activity this year. GDP growth of 0.7 per cent is now projected for [...]
Three charts: French consumer confidence up, expected unemployment down, and inflation fears resurface July 26, 2013 (Source: INSEE) French consumer confidence has risen from 79 (revised from 78) to 82 in July, while economists forecast just a one point increase from that unrevised figure to 79 (release). In July, households were largely less numerous than in June to forecast an increase in unemployment. The corresponding balance lost 17 points and reached [...]
Before the open – 26/07 July 26, 2013 The FTSE is expected up slightly after a strong US earnings season yesterday. Grant Lewis, Daiwa Capital Markets: Yet more good data vindicating Abenomics overnight, with the latest CPI data coming in a little stronger than expected. Headline national CPI came in at 0.2%Y/Y in June, taking this index back into positive territory for the [...]
Sky announces £500m share buyback as dividend sees ninth consecutive rise July 26, 2013 British Sky Broadcasting has announced a £500m capital return to shareholders via share buy-back, as it releases results for the year ended 30 June (release). The firm saw profit before tax rise to £1,257m from £1,189m in the same period last year and has seen 150,000 customers sign up for its new Sky Go Extra [...]
Miner Rio Tinto announces £670m investment in water supply project July 26, 2013 Rio Tinto has announced a $1.30bn (£670m) investment in a new 2,500 litre per sector seawater desalination facility to supply water to Escondida mine in Chile, in which Rio Tinto has a 30 per cent interest (release). The project will provide a sustainable supply of water for the new OGP1 copper concentrator approved in February [...]
Any Other Business – 26/07 July 25, 2013 Alas, the Royal baby was not named Prince Boris. But the Mayor of London did weigh in on the choice of George for the baby boy on the radio yesterday, alluding that a nod to the chancellor George Osborne was unlikely: “I won’t say it's in honour of the economic recovery, which is gathering pace. [...]
US initial jobless claims miss forecasts rising 7,000 this week July 25, 2013 US initial jobless claims for the week of 19 July have risen from 336,000 (revised from 334,000) to 343,000. Analysts had expected a smaller rise to 340,000. Continuing claims for the week of 13 July dropped from 3.116m (revised from 3.114m) to 2.997m, with economists forecasting a greater fall to 2.98m. Nothing that departs significantly [...]
