Global| Apr 29 2008CBI Sales and Order Trends Weaken
Summary
The CBI survey shows sharp weakness on the part of consumers in April. Sales from one year ago register a -26 on this net balance scale. Orders are a -28.and sales for the time of year are assessed an even weaker looking -38. Indeed, [...]
The CBI survey shows sharp weakness on the part of consumers
in April. Sales from one year ago register a -26 on this net balance
scale. Orders are a -28.and sales for the time of year are assessed an
even weaker looking -38. Indeed, sales for the time of year are in the
bottom 9% of their range, the same as for year-ago sales. Orders are in
the bottom 12 percent of their range. The expected readings that apply
to May are similarly weak with orders in the bottom 25 percentile of
their range. Sales for the time of year, as well as the Yr/Yr change in
sales, stand in the lower 10 percentile of their respective readings.
The UK retail sector is beginning to feel some pain. Inventories are
rising and are expected to rise further next month. That could compound
problems in the sector.
| UK Retail volume data CBI Survey | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Reported: | May-08 | Apr-08 | Mar-08 | Feb-08 | 12Mo Avg | Pcntle | Max | Min | Range |
| Sales/Year Ago | -26 | 1 | -3 | 8 | 9% | 67 | -35 | 102 | |
| Orders/Year Ago | -28 | -10 | -4 | 7 | 12% | 48 | -38 | 86 | |
| Sales: Time/Year | -38 | -14 | -7 | -5 | 9% | 41 | -46 | 87 | |
| Stocks: Sales | 17 | 10 | 11 | 14 | 57% | 30 | 0 | 30 | |
| Expected: | May-08 | ||||||||
| Sales/Year Ago | -15 | -3 | -2 | 10 | 8 | 9% | 67 | -23 | 90 |
| Orders/Year Ago | -14 | -6 | -3 | 10 | 6 | 25% | 47 | -34 | 81 |
| Sales: Time/Year | -26 | -15 | -10 | -5 | -5 | 11% | 45 | -35 | 80 |
| Stocks: Sales | 18 | 11 | 10 | 11 | 12 | 65% | 26 | 3 | 23 |
Robert Brusca
AuthorMore in Author Profile »Robert A. Brusca is Chief Economist of Fact and Opinion Economics, a consulting firm he founded in Manhattan. He has been an economist on Wall Street for over 25 years. He has visited central banking and large institutional clients in over 30 countries in his career as an economist. Mr. Brusca was a Divisional Research Chief at the Federal Reserve Bank of NY (Chief of the International Financial markets Division), a Fed Watcher at Irving Trust and Chief Economist at Nikko Securities International. He is widely quoted and appears in various media. Mr. Brusca holds an MA and Ph.D. in economics from Michigan State University and a BA in Economics from the University of Michigan. His research pursues his strong interests in non aligned policy economics as well as international economics. FAO Economics’ research targets investors to assist them in making better investment decisions in stocks, bonds and in a variety of international assets. The company does not manage money and has no conflicts in giving economic advice.
More Economy in Brief
