World, As Seen from the most beautiful islands: Ireland and Cyprus

US Consumer confidence grows, European CC declines


Consumer confidence in the United States was slightly higher than expected in December. This is according to a definitive figure from the University of Michigan.

The index that shows sentiment among American consumers went to a level of 99.3 against 99.2 with a provisional estimate. The index reached 96.8 in November. Economists generally counted on a state of 99.2. Confidence has been rising for four months in a row.

The economy of the United States grew by 2.1 percent on an annual basis in the third quarter. The American government reported this on the basis of a third estimate. The figure corresponds to an earlier estimate.

Economists had generally expected that the gross domestic product (GDP) of the world’s largest economy would not be adjusted. In the second quarter of 2019, growth was still 2 percent.

Consumer confidence in the eurozone declined in December compared to the previous month. The European Commission reported this on the basis of a provisional figure.

The indicator with which the committee measures confidence went to a position of minus 8.1, minus 7.2 a month earlier. Economists generally expected a level of minus 7.0.

Consumer confidence in Germany has declined slightly. The index representing consumer confidence in Europe’s largest economy was 9.6 against an earlier level of 9.7. Economists generally expected a level of 9.8. The indicator is based on research among around 2000 respondents and looks one month ahead, in this case to January.

French consumer spending declined slightly in November compared to a month earlier. This became apparent on Friday from data from the national statistics office.

Consumer spending increased by 0.1 percent on a monthly basis. That was 0.2 percent a month earlier. In general, economists had also expected spending to increase by 0.2 percent. Consumer spending grew by 0.2 percent on an annual basis, while experts counted on 0.4 percent.

The statistics office also announced that French producer prices rose by 1.1 percent in November. A month earlier there was a fall in prices of 0.2 percent. A price decrease of 0.1 percent was previously reported. Producer prices fell by 0.8 percent on an annual basis.

Written by: Harry Adams

Harry Adams is a political expert who has been working for various publications under pseudonyms for 11 years. He loves sarcasm and a rigid presentation of the material without decorations.

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