Canadian consumer sentiment fell for the first time in more than a month as budget disputes in the U.S. prompted views of the economy to deteriorate, according to the new Bloomberg Nanos Canadian Confidence Index.
Anyone who remembers the collapse of Lehman Brothers Holdings Inc. little more than five years ago knows what a global financial disaster is. A U.S. government default, just weeks away if Congress fails to raise the debt ceiling as it now threatens to do, will be an economic calamity like none the world has ever seen.
Believe it or not, there was news this week that wasn't related to the first partial closure of the government in 17 years. Here's a highly curated (read: extremely subjective) list of stories about financial milestones for the week of September 30. CONFIDENCE: Consumer confidence decreased for the first time in four weeks as Americans’ views of the economy deteriorated to the lowest level since May. The partial closure of the government risks further rattling consumers’ moods at the same time the U.S. nears a deadline to raise the debt limit and avoid default. Nonetheless, the cheapest gasoline prices since January and improved home values are giving households the wherewithal to sustain spending, which accounts for 70 percent of the economy. 10/3
The Bank of Japan refrained from adding to unprecedented monetary stimulus after business confidence surged and Prime Minister Shinzo Abe decided the economy was strong enough to weather a sales-tax increase.
The dollar slid to the weakest level in eight months versus the euro as the U.S. government’s partial shutdown added to concern economic growth will slow and prompt the Federal Reserve to delay reducing monetary stimulus.
The Bloomberg Consumer Comfort Index measures Americans' perceptions on three important variables: the state of the economy, personal finances and whether it's a good time to buy needed goods or services. A new index reading is generated every week, making it a timely sentiment gauge.