Recent Updates
- US: Consumer Sentiment (Jan-prelim), IP & Capacity Utilization (Dec)
- Consumer Sentiment (Jan-prelim)
- US: Industrial Production Detail (Dec)
- Canada: CPI (Dec), Intl Transactions in Securities (Nov)
- Canada Regional: CPI by Province (Dec)
- Germany: Hotel and Restaurant Turnover (Nov), Tax Revenues (Q3)
- Turkey: IIP, International Reserves, Foreign Trade Indexes (Nov)
- Mexico: Manufacturing Employment (Nov)
- Colombia: Manufacturing IP, Retail Sales (Nov)
- more updates...
Economy in Brief
Delay in Release
of Data for Construction, MSIO, Intl Trade, Wholesale Trade, Monthly Treasury, Retail Sales, Business Sales & Inventories, and Housing Starts Due to Lapse in Federal Government Funding.
U.K. Retail Sales Begin to Lose Momentum
U.K. retail sales fell by a sharp 1% in December...
Philadelphia Fed Manufacturing Index Rebounds; Pricing Pressure Eases
The Philadelphia Fed reported that its General Factory Sector Business Conditions Index increased to 17.0 during January...
U.S. Initial Unemployment Insurance Claims Slip
Initial claims for jobless insurance eased to 213,000 (-2.6% y/y) during the week ended January 12...
Passenger Car Registrations Hold to Low Ground in Europe
Passenger car registrations in Europe fell on a year-over-year comparison for the fourth consecutive months in December...
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 |
