Consumer confidence drops to lowest of the year

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Fizzled in July to the lowest level of the year falling consumer sentiment, as far as a gloomy picture took the Americans of their work and income prospects, a survey showed on Friday.

The Thomson Reuters/University of Michigan's final reading on the overall index on consumer sentiment fell of to 72,3 73,2 in June. It the second month in a row, the attitudes have cooled and the lowest level since December.

That was a touch higher than the expectations of economists hold steady with July preliminary reading of 72.

"While consumers do not expect a recessionary economy decline, they expect no pace of economic growth, which could satisfactorily to revive job and income prospects," said survey Director Richard Curtin in a statement.

"In addition, consumers have increasingly convinced that current economic policy not in the location with views on the economy are to solve underlying problems."

Concerns the increase in food prices appeared a toll, with 45 percent of consumers that their finance recently had deteriorated, citing lower income and higher prices should get say. Only 10 percent expected inflation-adjusted gains in their income next year.

While Americans expect not another recession, half thought that the economy had deteriorated in the past year. Confidence in the economic policies remained low with only 11 percent close to all-time, the a positive view.

The survey barometer of current economic conditions slightly up to 82,7 slipped 65.6 from the 67,8 of 81.5, while the gauge of consumer expectations.

A one-year inflation expectations declined from 3.1 per cent to 3.0 per cent. The five-until 10 years inflation Outlook eased to 2.7 percent from 2.8%, suggesting that consumers expect that food to temporary price increases to be limited.

Copyright 2011 Thomson Reuters.

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Facebook shares fall to lowest since IPO

8:30 AM Facebook, lowest, Shares, since No Comments

Reports are Julia Boorstin, CNBC executives at Facebook on a shift to smartphones and the mobile world focus, but some investors are concerned about the strategy.

Facebook were shares by 15 percent to just under $23 in trading Friday after the company lack of financial forecast concerns about its mobile strategy reinforced the result quickly cash in the near future will burn.

The decline of moved the stock to its lowest price since the IPO in the middle of May.

The social network, which announced its first quarterly results as a public company on Thursday, managed to beat only sales expectations.

"It seems based on the aftermarket reaction to the result, that more than a flip wanted to investors," Piper Jaffray & co analysts said in a client note.

Investors who are worried, would have been money such as the social network of mobile advertising had also hoped that the company would signal that growth was picking up.

JPMorgan Securities analyst said that the stock could also come under pressure due to a lock-up expiring on 19 August when some early investors sell their shares flooding of the market with was can.

Reuters contributed to this report.

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Global consumer confidence lowest since 2009

3:29 AM confidence, consumer, Global, lowest, since No Comments

LONDON - global consumer confidence fell in the second quarter to their lowest level in a year and a half as an uncertain economic Outlook, a deepening of the eurozone debt crisis and rising inflation made people more cautious, a survey showed Sunday.

Consumer sentiment in the United States company's quarterly survey of global consumers weaker than in the second half of 2009, was at the height of the global recession, according to the Nielsen.

Globally, consumers plan to in the coming months the belt of close buckles for everything from has invest, purchase clothing, with holiday and upgrade technology, after something less careful in the past 12 months, the survey showed.

Thirty-one percent of U.S. consumers said they have no free cash for spending, along with 25 percent of consumers in the Middle East and in Africa and 22% of Europeans.

In China, due to rising inflation and in the Middle East, where an initial bounce in consumer way to caution as political Outlook was unclear morale after social riots in the first quarter and rising prices trust dipped was reduced purchasing power. Egypt and Saudi Arabia posted the largest cases compared with the first quarter in the Nielsen rankings of trust in 56 countries worldwide.

Trust was swallowed up at the lowest in countries of the euro-zone by a deepening debt crisis with Greece end of the global ranking. Portugal, Ireland, Spain and Italy were also in the bottom 10, although during confidence versus the first quarter in Spain and Italy, it fell slightly in Portugal and Ireland increased.

Even the most optimistic were Indian consumer global but less than in the first quarter. Consumers in Asia remained in General significantly more optimistic than in other regions-with the exception of the Japanese and South Koreans, who under the most pessimistic tailor - but rising inflation were tempered Asian purchasing power.

India's result in the Nielsen global consumer confidence index fell 5 points from the previous quarter to 126. It was index in the second half of the year far below the country's record 137 2006 that six-year history read highest reading for any country in the index.

The index global average reading dipped 3 points versus the first quarter to 89, its lowest level since the fourth quarter of 2009.

A score under 100 signals pessimism about the prospects.

"Production slows performance weak economic indicators, and inflation in Asia, a severe debt crisis in Europe and continuing political instability in the Middle East, in combination with rising household have issues in the United States its toll on fragile confidence of consumers," said Venkatesh Bala, Chief Economist at the Cambridge Group, a unit of Nielsen.

"Hopes for full global recovery in the next 12 months weakened significantly in the second quarter, as the majority of consumers around the world in a recessionary mindset remained."

Todd Hale, senior Vice President at Nielsen in the United States, said that U.S. consumers through a series of negative factors was been put out of action.

"Check out with rapidly rising gas prices, inflationary pressures, suffer continued in the housing market with foreclosures and the decline in property values, disturbing weather patterns creating floods and tornado damage and stagnant labour market, the US consumer confidence fell in the second quarter," said Hale.

Jump in confidence saw Britain and France, on the other hand in the second quarter but remained the morale in both countries under the European average.

The survey was taken between May 20 and June 7, over 31,000 consumers in 56 countries. The survey is based on consumer confidence in the labour market, status of their personal finances and willingness to spend.

Copyright 2011 Thomson Reuters.

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