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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Bill/WA who wrote (12363)	9/28/2004 9:45:38 AM
From: mishedlo	Respond to of 116555

German consumer climate index 2.1 in Sept vs 3.0 in Aug - GfK Tuesday, September 28, 2004 8:34:48 AM FRANKFURT (AFX) - The German consumer climate index fell to 2.1 points in September from 3.0 points in August and 3.7 points in July, according to a monthly survey by GfK market research GfK expects the overall climate index to rise to 2.4 points in October "Private consumption will not offer any noteable impulses this fall -- a development that will probably continue until the end of the year," Gfk said Gfk said the economic expectations index, which measures consumers' optimism about the economic outlook, rose 6.5 points in September to minus 11.9 The index measuring consumers' expectations about their own incomes rose 7.0 points to minus 12.3, it said The index measuring consumers' willingness to spend nudged 0.4 points higher to minus 27.4, with the bulk of cautious consumer behaviour located in the Eastern states of Germany The GfK consumer climate survey polls 2,000 people and is carried out on behalf of the European Commission

To: Bill/WA who wrote (12363)	9/28/2004 9:47:54 AM
From: Knighty Tin	Respond to of 116555

Bill, we have a few generations of voters now who didn't live through LBJ and Tricky Dick, so they can't believe the administration is as bad as it is. Read a book?!!!! Gimme a break. Even the Prez doesn't know how to read a book. <G>

To: Bill/WA who wrote (12363)	9/28/2004 9:52:07 AM
From: mishedlo	Respond to of 116555

EU´s Regling says euro zone recovery underway Tuesday, September 28, 2004 10:32:38 AM EU's Regling says euro zone recovery underway BRUSSELS (AFX) - Klaus Regling, director of the commission's economic and monetary affairs division, said the euro zone recovery is underway Regling told the European Commission's conference on the euro: "The recovery is underway as confidence returns to consumers and firms and as world trade has rebounded." He said economic and monetary union has been "broadly positive" since its introduction five years ago It has achieved macroeconomic stability, and has accelerated economic integration in Europe, he said However, it had not fulfilled the expectations that it would be a catalyst for economic dynamism, he said Regling said there is a "growing prospect" that EU countries will miss their 2010 deadline for making their economies the world's most competitive, the goal of the Lisbon reform agenda On EU countries' widening budget deficits, he said these are due mainly to low growth rates rather than "a return to the profligate budgetary policies of the past"

To: Bill/WA who wrote (12363)	9/28/2004 10:05:55 AM
From: mishedlo	Respond to of 116555

EU´s Almunia says EU economy has ´very low growth potential´ [Here's a comment that makes more sense - mish] EU's Almunia says EU economy has 'very low growth potential' BRUSSELS (AFX) - European Commissioner for economic and monetary affairs Joaquin Almunia said the EU economy has a "very low growth potential". Addressing a European Commission conference on the euro, he also said that countries with high deficits should take "firm, corrective measures" but that nevertheless, these "should not be taken at any cost" Concerning the reform of the EU's stability and growth pact, he said: "This debate is not so much about flexibility but about facing the economic reality of a union that has a very low growth potential and faces structural problems that hinder its economic performance." Almunia rejected the criticism of the European Central Bank of the stability pact reforms, saying they would "go in the direction of strengthening the standing of our framework"

To: Bill/WA who wrote (12363)	9/28/2004 10:23:20 AM
From: mishedlo	Respond to of 116555

U.S. Sept. consumer confidence slips to 96.8 Tuesday, September 28, 2004 2:16:20 PM afxpress.com WASHINGTON (AFX) - The U.S. consumer confidence index dipped for the second straight month in September, falling to 96.8 from an upwardly revised 98.7 in August, the Conference Board reported Tuesday. Expectations were largely unchanged at 97.6 vs. 97.3 in August. Attitudes about the current economic situation, however, fell to 95.5 from 100.7. Economists were expecting the index to improve to 99.1, according to a survey conducted by CBS MarketWatch. "Soft labor market conditions have clearly taken a toll on consumer confidence," said Lynn Franco, director of consumer research at the board. "Still, expectations for the next six months are virtually unchanged from August." Surveys of consumer attitudes have little predictive value in terms of consumer spending. But they do reveal insights into consumers' psychology about inflation and jobs The assessment of current business conditions improved marginally, with 23.6 percent calling them "good" versus 23 percent last month. Those saying conditions are bad remained at 20.3 percent However, the assessment of the job market deteriorated. The percentage saying jobs are "plentiful" fell to 16.8 percent from 18.4 percent, while the number saying jobs are "hard to get" rose to 28.3 percent from 26 percent. The longer outlook was unchanged. The number expecting conditions to worsen increased to 9.4 percent from 8.8 percent, while the number expecting improvement rose to 21.4 percent from 20.2 percent last month