Consumer confidence tumbles to 9-month low
Index falls to a lower-than-expected 104.0 on rising gasoline prices; inflation expectations rise to highest since August 2006.
U.S. consumer confidence slipped in April to its lowest since last August, reflecting worries that rising gasoline prices could ignite inflation and crimp economic growth, a report showed on Tuesday.
The Conference Board said its index of consumer sentiment fell to 104.0 from an upwardly revised 108.2 in March.
"Rising prices at the gas pump continue to play a key role in dampening consumers' short-term expectations. The decline in the Present Situation Index -- the first decline in six months -- warrants monitoring in the months ahead, as further declines would suggest a softening in growth," said Lynn Franco, director of The Conference Board Consumer Research Center, in a press release.
http://money.cnn.com/2007/04/2…tm?postversion=2007042410
Toyota surpassed General Motors in first-quarter sales, ending GM's 76-year reign as the world's biggest automaker
Toyota Motor Corp. surpassed General Motors Corp. in first-quarter sales of cars and trucks, threatening GM's 76-year reign as the world's biggest automaker.
Toyota's first-quarter sales rose 9.2 percent to a record 2.35 million vehicles, the company said today. GM's sales gained 3 percent to 2.26 million vehicles, also a record, the Detroit- based automaker said last week. GM outsold Toyota 9.1 million to 8.8 million for all of last year.
Toyota overtakes GM 50 years after exporting its first passenger car to the U.S. The Toyota City-based automaker is relying on record imports and six North American plants to gain on GM in its home market. GM, after losing $12.4 billion in the past two years, is ceding lower-margin U.S. sales to rental-car companies and cutting incentives as it tries to return to profit...
http://www.bloomberg.com/apps/…d=alvUvN4CQuPU&refer=news
Consumer confidence falls; home sales sag
U.S. consumer confidence slipped in April to its lowest since last August, while sales of existing homes in March dropped more sharply than in any month since January 1989, according to reports on Tuesday that offered more evidence of a weakening economy.
The Conference Board said its index of consumer sentiment fell to 104.0 from an upwardly revised 108.2 in March...
http://www.reuters.com/article/ousiv/idUSN2440084620070424