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So the next policy front should be fiscal (see article).When credit markets are dysfunctional, private demand is fading and confidence weak, a fiscal jolt is a good option.
(See "Confidence Weak As Housing Flails").. Elsewhere, the U.S. Commerce Department reported that construction spending fell at a slower-than-expected rate in February.
"Positive Scottish retail sales figures for the third quarter need to be set against the reports of several business surveys which depict growth as largely stagnating with household spending depressed and business confidence weak".
Given the continuing turmoil abroad -- in Europe and the Middle East -- and with consumer and business confidence weak, it's hard to be optimistic that private businesses, now sitting on roughly $2 trillion in cash, will suddenly get the urge to begin hiring more workers (although they have been spending a lot on new equipment).
Similar(56)
If the deal helps restore confidence, weaker institutions will be able to borrow on money markets again, so they no longer will be dependent on the European Central Bank for financing.
Consumer confidence is weak.
Domestically, business and consumer confidence remains weak.
9.19am BST French industrial confidence still weak.
The construction sector is still underperforming badly as business confidence remains weak.
The grueling competition, however, continues -- at a time when consumer confidence is weak.
Paychecks are scarcer, consumer confidence is weak and the amount of household debt continues to grow.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com