Money Minute Tuesday 24 September: German and US confidence
Today’s Money Minute is all about confidence. In Germany, we get a snapshot of how German businesses are feeling about life. And in the US, we get the latest reading on consumer confidence.
Today's Money Minute is all about confidence. In Germany this morning, we get a snapshot of how German businesses are feeling about life. The data is likely to show that they are not terribly happy.
In August, the IFO business climate index fell to its lowest point in nearly seven years. A reading that low suggests that the country may well already be in recession.
In the US, we get the latest reading on consumer confidence. The broader economic outlook is uncertain, which has recently been reflected in consumer expectations.
However, most Americans remain upbeat on their personal economic circumstances, which is not surprising, given that employment remains high and wages are growing more rapidly than inflation.
With interest rates now falling too, confidence is likely to remain near the 18-year highs seen last month.
Oh and in corporate news, tour operator TUI issues a trading update this morning in the UK. The update will be pored over for any comments on failed rival Thomas Cook, and the potential impact on the wider leisure market.