Recent Updates
- ** New Zealand's jobs online report has been delayed by the source, MBIE, until 6:00 PM ET 4/26.**
- New Zealand: Foreign Currency Assets & Liabilities & Currency Flows (Mar); Australia: Labor Force Survey (Mar), Import/Export Price Indexes, SME Business Survey (Q1), Cash Flow Statements, Government Finance Statistics (2017)
- Japan: Input Output Prices, Lease Contracts (Mar), First 10 Days Trade (Apr), International Trade (Mar-Final)
- Brunei: International Trade (Dec); Korea: GDP (Q1); China:
- more updates...
Economy in Brief
Japan Shows Very Moderate Growth As Trade War Clouds Gather
Japan’s sector indexes showed a solid gain in February...
U.S. Consumer Confidence Unexpectedly Rose in April
The Conference Board Consumer Confidence Index rose to 128.7 in April from 127.0 (initially reported as 127.7) in March...
U.S. New Home Sales and Prices Strengthen
Sales of new single-family homes during March increased 4.0% (8.8% y/y) to 694,000 (SAAR)...
U.S. FHFA House Price Index Continues to Strengthen
The FHFA index of U.S. house prices rose 0.6% during February...
U.S. Energy Prices Rise Further
Retail gasoline prices increased to $2.80 per gallon last week (14.3% y/y)...
by Robert Brusca October 11, 2007
The UK RICs survey is a net balance survey and therefore samples the breadth of gains or drops across the area and dimension surveyed. In September the net balance for prices fell to -15 from -3 in August, a sharp month-to-month drop.Both sales expectations and prices are now dropping. Price expectations are dropping as well and the reading for expectations lies below that for prices, a signal in the past that price reductions could continue for some time.
The RICs assessment for housing is quite negative. It’s the worst since late 2005 for prices and since early 2003 for sales.
| RICS: House Prices and Expectations for Prices and Sales | ||||||
|---|---|---|---|---|---|---|
| Sep-07 | Aug-07 | Jul-07 | 3MoAvg | 6MoAVg | 12MoAvg | |
| Prices | -15 | -3 | 11 | -2 | 9 | 22 |
| Price Expectations | -20 | -13 | -9 | -14 | -5 | 11 |
| Sales expectations | -9 | -4 | -6 | -6 | 2 | 11 |
| New Sales | -28 | -20 | -17 | -22 | -11 | -3 |
