The Conference Board's index of consumer confidence fell unexpectedly, led by the most pessimistic assessment of the situation for over four years.
In Labour's first term, the Treasury was consistently too pessimistic about revenues, which were unexpectedly buoyant because of the high incomes and profits generated in the dotcom boom.
In contrast to the situation in Germany, consumer confidence in Britain unexpectedly slipped in March as households became more pessimistic about the economy weeks before a general election, a market research company, GfK NOP, said Wednesday.
The figure for the gross national product, the value of the goods and services produced in the economy, "was lower than the most pessimistic estimates," while the rise in inflation was unexpectedly high, said Trevor Woodland, national sales manager for foreign exchange at Harris Trust & Savings Bank in Chicago.
The pessimistic outlook from one of the nation's biggest semiconductor companies followed unexpectedly weak earnings from Hewlett-Packard.
And consumer confidence in the United States unexpectedly weakened in August, to its lowest in nine months, as Americans turned more pessimistic about the short-term outlook, according to the Conference Board.
NEW YORK, Aug 28 (Reuters) - U.S. consumer confidence unexpectedly weakened in August to its lowest in nine months as Americans turned more pessimistic about the short-term outlook, according to a private sector report released on Tuesday.
Those who fear the answer is "not" had plenty of new reasons to worry Tuesday, as the chief of Britain's central bank delivered a pessimistic assessment of the European economy and an indicator of German business sentiment fell unexpectedly.
Diplomatic circles are pessimistic.
