M&S expected to report its worst Christmas in decades Jan 5, 2009
Nick Bubb at Pali International is forecasting a 7 per cent drop in third-quarter food sales and warned general merchandise sales could plummet by 10 per cent.. Freddie George, retail analyst at Seymour Pierce, added that discounting in the lead up to Christmas could mean Morced to provide a profits warning with the sales update. (Scotsman)
Street Sizzles In The Gloom Jan 5, 2009
According to , a Ford Motor (nyse: - - ) executive projected a further softening in 2009, forecasting total U.S. auto sales of 12. 5 million, down from an expected 13. (Forbes -- Markets)
Japan auto executives hope for US recovery Jan 5, 2009
Toyota, which makes the Prius gas-electric hybrid and Camry sedan, is forecasting a net profit of 50 billion yen ($555 million), down drastically from the 1. 7 trillion yen earned the previous year. (Muscatine Journal, IO)
Prospects for house prices continue to look gloomy Jan 5, 2009
Pretoria - The prospects for the residential property continue to look gloomy, with Absa expecting house prices, after adjustment for inflation, to drop by about 7 percent this year and forecasting a further real decline in prices of about 4. 5 percent for next year. (Business Report, South Africa)
Coe Number One; Obama, Rogge Numbers Two and Three: Around the Rings Golden 25 for 2009 Jan 4, 2009
" Coe and Obama are joined on the Golden 25 by 14 IOC members as well as other government leaders, including London Mayor Boris Johnson and Russian Deputy Prime Minister Dmitry Kozak. While there are regulars on the list, some are just rising to prominence in the Olympic Movement. The Around the Rings' Golden 25 is among the year's most closely-watched annual rankings. Unlike other end of the year reviews, the Golden 25 looks ahead, forecasting those individuals who will have the most influence... (PR Newswire)
Interest rate to dip 4-5% by July: KV Kamath Jan 4, 2009
"Secondly, banks are repricing their own deposits lower...deposit rates are going down by 100-150 basis points or so...inflation is also coming towards zero," he said, while forecasting that the bulk deposit rates in India would stabilise at 8-8. 5 per cent from a peak of 12. (India Times)
Expect Beachwood to top headlines again in 2009 Jan 3, 2009
Some fearless forecasting. Cut this out. (Half Moon Bay Review, CA)
Service union leaders consider consolidation Jan 3, 2009
On that day, Stern appeared to be forecasting what he and board members are expected to do on Thursday, when he said, "Our members sent a clear message today. A single statewide local can instantly transform long-term-care workers into one of the leading political and economic forces in the Golden State.". He said that with the state budget crisis and Gov. Arnold Schwarzenegger calling for devastating cuts in worker pay and patient care, "Our members are saying now is the time to pool our... (San Francisco Chronicle -- Business)
Buttonwood: Ready for a rally? Jan 3, 2009
Morgan Stanley, for example, is forecasting a fall of 30% in capital expenditure between now and mid-2010. If Mr Bowers is right, low government-bond yields could lose their appeal and equities could rebound. (The Economist)
Bargaining is in these days Jan 3, 2009
Does he care what I think of him for spending his time studying something called, decision support systems and the psychology of forecasting. Obviously, there are two kinds of people in the world: those who enjoy bargaining and are good at it, and those who don t and aren t. I m a don t and aren t guy. (DeKalb Daily Chronicle, IL)
Fire dies under Chinas once booming manufacturing industry Jan 3, 2009
Private sector analysts are forecasting economic contraction for at least half a dozen Asian countries this year. China with its agressive money grabbing policy will finaly pay the price. (Times Online)
Money flowing into and out of D.C. Jan 3, 2009
A rapidly growing number of economists are forecasting a very dark 2009, particularly in regions of the world like the USA, where politicians, bankers and individuals have grown so found of taking on huge debt loads. Well, cheer up you members of the afflicted lower castes. (The Augusta Chronicle)
Who Saw The Housing Bubble Coming? Jan 3, 2009
Unfortunately, it is in the nature of economic and financial forecasting that being right too soon is insignificantly different from just being wrong. And forecasters that are wrong when most of their community is also wrong never suffer for it. (Forbes)
Some economists find reasons to be optimistic Jan 3, 2009
"Most of our models are structured in a way that the economy is self-righting," said Nigel Gault, chief domestic economist for IHS Global Insight, a consulting and forecasting firm in Lexington, Massachusetts. Even if the economy begins to right itself by this summer, the recession would still be the longest since the 1930s, which was the last time the government engaged in widespread public spending to overcome the persistent inertia in consumer and business spending. (International Herald Tribune)
Auto industry girds for chilling sales report Jan 3, 2009
J.D. Power & Associates is forecasting sales this year of 11. 4 million units. (Globe and Mail)
Pat Robertson's Predictions For 2009 Jan 3, 2009
(AP) - Religious broadcaster Pat Robertson is out with his annual predictions, forecasting an economic recovery and a rejection of Islam as what he calls a "religion of hate.". Robertson shared his 2009 predictions with a New Year's Day prayer session, which he broadcast Friday on "The 700 Club." While Robertson said the economy will rebound during Barack Obama's presidency, he said it will come with a dose of more government. (WTKR.com, VA)
Bull or bear: what's hot and what's not in 2009 Jan 3, 2009
The optimists and pessimists are locking horns over the Sydney housing market's future, with bears forecasting more price falls and bulls arguing such doom and gloom will only depress the market further. Even real-estate agents admit prices have declined steeply in premium suburbs. (Sydney Morning Herald -- Australia)
Gillard asks bosses not to cut staff Jan 3, 2009
4 per cent by the end of the year as well as forecasting growth to slow to 0. 7 per cent, the sharemarket is set to surge tomorrow after a new year rally on Wall Street on Friday. (Sydney Morning Herald -- Australia)
Some Forecasters See a Fast Economic Recovery Jan 3, 2009
Most of our models are structured in a way that the economy is self-righting, said Nigel Gault, chief domestic economist for IHS Global Insight, a consulting and forecasting firm in Lexington, Mass ... And even now in these doomlike times, we in the forecasting profession say it won t last. (Atlanta Journal-Constitution -- Business)
Tough times in the tourist trade Jan 3, 2009
And domestic travellers, who make up more than two-thirds of the market, are not expected to pick up the slack, with Tourism Australia forecasting that the number of nights Australians holiday away from home will fall by just under 1 per cent in 2009 ... He undoubtedly knows that while this year will be hard, Tourism Australia is still forecasting growth in the decade that began two years ago. (The Australian)
World economies in 2009 Jan 3, 2009
The worlds biggest economy is also expected to contract further this year, with the Organisation for Economic Cooperation and Development forecasting a decline of 0. 9% and Morgan Stanley Research, a 1. (The Star Online, Malaysia -- Business)
Nokia to focus on profit development Jan 3, 2009
Cellphone market is expected to see its weakest year in 2009, with analysts forecasting on average for a 6. 6% fall in sales volumes. (The Star Online, Malaysia -- Business)
Down market in 2009 for Jacksonville hotels Jan 3, 2009
Most analysts are forecasting the revenue per available room to decrease 5 percent to 10 percent in 2009. So hotels are looking for ways to contain costs, said Dan King, general manager of the. (Jacksonville Business Journal, FL)
Forecasters look for redemption Jan 2, 2009
In the world of forecasting, getting both the what' right and the when' right at the same time is something that doesn't happen as frequently as you would like, said George Vasic, chief economist and strategist at UBS Securities Canada Inc.. Forecasters are kidding themselves if they think they can precisely anticipate either what's going to happen or exactly what it's going to mean as far as market movements, said David Wolf, Merrill Lynch's head Canadian economist and strategist. (Globe and Mail)
Youth jobless rate to soar Jan 2, 2009
" Some economists are forecasting that Australia will fall into recession this year. The director of Access Economics, Chris Richardson, said yesterday that the country could be already slowing, and predicted unemployment would peak at about 7.5 per cent in 2010. That would equate to about 875,000 people out of work. An unemployment rate just under 9 per cent would push the number of jobless to 1 million. School-leavers typically drive up unemployment in January and February. And if the path to... (Sydney Morning Herald -- Australia)
Nokia CEO to favor profit over sales targets: report Jan 2, 2009
Cell phone market is expected to see its weakest year in 2009, with analysts forecasting on average for a 6. 6 percent fall in sales volumes. (Yahoo News -- Technology)
Prescient msnbc.com readers saw downturn coming Jan 1, 2009
com readers proved prescient a year ago, correctly assessing the bleak economic conditions as a recession and forecasting a decline in the stock market, according to results of our unscientific survey. Going into 2008, nearly half the 6,000 readers who took our survey believed the economy was already in recession and another 27 percent believed a recession would begin at some point during the year. (MSNBC -- Business)
Glad tidings if you have lost a fortune Jan 1, 2009
It has been a tough time for economists in forecasting, and no amount of computer modelling has been able to make accurate predictions as to when the global financial crisis will be over. But a feel for what is now happening in the real economy gives some commentators more confidence to take a stab at the immediate outlook. (Sydney Morning Herald -- Business)
Ford Will Need Help, Too Jan 1, 2009
JD Power iates is forecasting 11. 4 million light-vehicle sales in 2009 and 13. (Forbes)
Economy linked to consumer confidence Jan 1, 2009
While she has no doubt an upswing will come in 2009, she says forecasting is an educated guess. Nathan Topper Assistant economist, Moody's Economy. (AZCentral -- Business)
Grinch stole Christmas for NWI workers (24) Jan 1, 2009
Economists are forecasting there will be a lot more people in Drapac's shoes in the new year, with most forecasting the national unemployment rate will climb to 8. 5 percent or higher from its current 6. (Munster Times, IN)
The ROB Interview: Banker foresees merger spree in 2009 Jan 1, 2009
First of all, I'm not in the forecasting business. But here's how I would think about it: If you're producing 85 million barrels a day and you have a five-million-barrel decline, that's a massive decline. (Globe and Mail -- Business)
USDA suggests average 2008 cash corn price of $4 per bushel (34) Jan 1, 2009
In 2009, this private analyst is forecasting 82. 288 million acres in corn. (Great Falls Prairie Star, MT)
Riverina Tourism captures domestic market Jan 1, 2009
But its forecasting committee also predicts the low Australian dollar will make domestic travel more attractive with people going on holidays locally. The executive officer for Riverina Tourism Fiona Last says the drop in overseas visitors is bad news for Australia but is unlikely to have much impact locally. (ABC Online)
Miss., other states slash budgets during recession Dec 31, 2008
So far in the current fiscal year, 22 states have cut their enacted budgets by 12 billion, with another five forecasting cuts, according to a report issued this week by the National Governors Association. Barbour in November ordered 42 million in midyear cuts required by Mississippi s budget-balancing law. (Columbus Commercial Dispatch, MS)
Economy session brings bleak news about state trends Dec 31, 2008
However, if the recession ends next year, as some economists are forecasting, it ll be the longest downturn since the Great Depression, which began in 1929 and lingered through the 1930s. Mississippi has lost about 17,000 jobs this year, said Phil Pepper, state government s chief economist. (Columbus Commercial Dispatch, MS)
New jobless claims jump more than expected in November Dec 31, 2008
Some are forecasting that GDP will plunge at an annual rate of 6 percent, which would be the worst showing since 1982. The Commerce Department said Wednesday that orders for large manufactured goods dropped by 1 percent, less than the 3 percent economists had expected. (Durant Daily Democrat, OK)
Why we're no longer in love with boat race that stopped the nation Dec 31, 2008
While he stops short of forecasting a return to nations competing against nations, Bertrand believes an Australian syndicate could be on the horizon. "We supply a large number of sailors to these syndicates around the world, [and] you have to assume they'd love to come back home and give it a shot," he said. (Sydney Morning Herald -- Sport)
Stories that made headlines in 2008 Dec 31, 2008
The projects were smaller than in previous years, but a recent report by the town s financial forecasting committee showed that debt and interest from past capital projects would make it difficult to balance the budgets in coming years. As a way to limit spending, the capital planning committee decided to put on hold some large capital projects, such as renovations to Wampatuck Elementary School. (Scituate Mariner, MA)
Euro closes in on parity with pound Dec 31, 2008
02 euros in late afternoon trading and analysts forecasting parity within days. The pound has been reaching historic lows versus the European single currency on a regular basis in recent weeks as the Bank of England slashes local interest rates with Britain standing on the verge of recession. (Sydney Morning Herald -- Business)
Retailers don't see recovery until 2010 Dec 31, 2008
Among those expected to bear the brunt is luxury furniture retailer Nick Scali Ltd, which is forecasting lower sales and profits in fiscal 2009 due to the Australian dollar. Retail analysts also believe the Reserve Bank of Australia's decision to cut interest rates in recent months to stimulate consumer demand will be offset by concerns about rising unemployment in 2009. (Sydney Morning Herald -- Business)
Interest rates to keep falling in 2009 Dec 31, 2008
"In July you had half the market still forecasting rate hikes and yet these people had detected the importance of the crisis," Mr Evans says. "You have to give them high credit for that."We ourselves weren't predicting rate hikes, but we certainly didn't expect to see such a quick turnaround in policy. (Sydney Morning Herald -- Business)
Consumer jitters hit mobile phone dealer Dec 31, 2008
The Brisbane-based mobile phone seller is forecasting that its first-half net profit will fall as much as 50 per cent to $3. 15 million due to a slowdown in consumer spending and increased competition. (Sydney Morning Herald -- Business)
Capital in short supply in 2009 Dec 31, 2008
Going forward, both CBA and St George are forecasting housing credit to grow by eight per cent in 2008/09 compared to ANZ's expectation of 6. 4 per cent.. (Sydney Morning Herald -- Business)
Grimmest of years ends with touch of hope Dec 31, 2008
Analysts are forecasting an average of $49 a barrel for U.S. crude in the first quarter, and an average of $58. 48 for the year. (International Herald Tribune)
Tourist operators unfazed by projected slump Dec 31, 2008
Tourism Australia's forecasting committee says inbound travel will fall by more than 4 per cent next year because of the global financial crisis. But the Port Macquarie Hastings tourism manager, Linda Hall, says the region is focusing on capturing the domestic tourism market, which is likely to increase. (ABC Regional Online)
Analysts will be watching loan covenants in 2009 Dec 31, 2008
The ratings agency Moody's is forecasting that 12. 5 percent of European companies with speculative-grade credit ratings will default by the end of November 2009, up from 1. (International Herald Tribune -- Business)
Challenge for State tourism Dec 31, 2008
9 per cent, the Tourism Forecasting Committee report said but committee chairman Bernard Salt said an increase in spending would offset the fall. Mr Hanna said it would be tough going over the next 12 months, particularly in regional areas. (Tasmania Examiner)
Glu Mobile Takes Significant Steps to Improve Liquidity Position Dec 31, 2008
Glu's management uses, and believes that investors benefit from referring to, these non-GAAP financial measures in assessing Glu's operating results, as well as when planning, forecasting and analyzing future periods. These non-GAAP financial measures also facilitate comparisons of Glu's performance to prior periods. (Yahoo! Wire -- Entertainment News)
FTSE 100 closes down by 32% in wo... Dec 31, 2008
Most analysts are forecasting the FTSE index will fall further in early 2009, before bottoming out around the middle of the year and closing with modest gains. Reuters' poll of 13 equity strategists gives a median forecast of the FTSE 100 to close next year at 4,700. (New York Post -- Business)
Lazy Portfolio Creators See Winning Times In 2009 Dec 30, 2008
"That's easy, a recession continues in 2009. But the stock market already knows this so it doesn't mean the stock market will go down. Look at how the experts did forecasting 2008! Kevin knows that when it comes to short-term forecasting the market, he's one of the few who knows he doesn't know.". Changes in asset allocations. (Fox News)
Condo Trends: 2009 Forecast Condo Increases Overseas Dec 30, 2008
Tokyo, Dubai and Newfoundland are all forecasting a rise in condo sales for 2009. JapanEconomyNews. (RealtyTimes)
How '08 went bust Dec 30, 2008
While no one was forecasting the onset of boom times there was a relative consensus that it would be a bumpy year neither was anyone forecasting precisely such a monstrous bust. Back in January, there was widespread speculation that the economy could repair itself just as quickly as it had soured. (Globe and Mail -- National)
Travel advisory: go out and spend Dec 30, 2008
Welcome to The Sydney Morning Herald. Mark Davis Political CorrespondentDecember 31, 2008. (Sydney Morning Herald -- Australia)
Studio featured on 'Queer Eye' ready to sell its shares Dec 30, 2008
At the time, the company was forecasting sales of $80 million, which it reached. This was up from about $55 million a year earlier and $40 million in 2001. (Yahoo News -- Queer Eye for the Straight Guy)
Freddie Mac names chief credit officer Dec 30, 2008
Romano will report to Moffett and will lead the company s credit risk management efforts including credit policy, counterparty credit risk management, and loss forecasting. Prior to joining Freddie Mac, Romano served as senior vice president and chief credit officer and other executive positions at different financial institutions including , , and with s investment bank. (Sacramento Business Journal, CA)
Formerly soaring global trade suddenly comes to a halt Dec 30, 2008
But, with the Economist Intelligence Unit forecasting 29 national economies will shrink next year, demand will slump for products worldwide. "Everything is down significantly, across the board in all sectors," says Peter Keller, president of the North American operations of NYK Line, a 123-year-old Japanese shipping company. (USA Today -- Money)
No longer just the place to be from Dec 28, 2008
In a financial update released last month, the Saskatchewan government said it was forecasting a $2. 3 billion budget surplus this year. (Toronto Star)
The top 10 stories of 2008 Dec 28, 2008
However, market watchers are hedging their bets, revising expectations and in some sectors of the tech industry, such as PC and mobile devices revenue, forecasting global declines. Tech companies are cutting revenue forecasts, and their share prices have sunk to levels almost as low as during the dot-com bust. (InfoWorld)
Storm clouds gather for world economy in 2009 Dec 28, 2008
The Russian government is forecasting a budget deficit for 2009 for the first time since the chaotic 1998 financial crisis and wage arrears and layoffs have prompted Russian officials to warn about the prospect of popular unrest ... Both countries are predicting their economies will shrink massively in 2009 despite getting IMF loans, with Iceland forecasting a contraction of 10 percent. (Business Report, South Africa)
Storm clouds gather for world economy in 2009 Dec 28, 2008
The Russian government is forecasting a budget deficit for 2009 for the first time since the chaotic 1998 financial crisis and wage arrears and layoffs have prompted Russian officials to warn about the prospect of popular unrest ... Both countries are predicting their economies will shrink massively in 2009 despite getting IMF loans, with Iceland forecasting a contraction of 10 percent. (Business Report, South Africa)
Recovery seen for US stocks as trading enters New Year Dec 28, 2008
Sunday, December 28, 2008. " onclick="Next();" src="/images/butt_next. (Channelnewsasia.com)
State layoff totals, scope of budget gap unclear Dec 27, 2008
Uncertainty bred by rapid and large shifts in economic behavior have made revenue forecasting more difficult than usual this year, even for professionals steeped in economics. Before Beacon Hill leaders delve deeply into fiscal 2010 issues, they ll need to address a fiscal 2009 problem that could total $750 million and is due largely to projections that tax collections won t meet the estimate the administration issued in October, which itself was revised downward by $1. (Brookline TAB, MA)
Lehman's rise and fall Dec 27, 2008
Economists are forecasting the worst global recession since at least the Second World War, and possibly since the Depression. The FBI has begun preliminary investigations into Lehman, Fannie and Freddie, and others. (Globe and Mail -- Business)
Japanese auto production plunges Dec 27, 2008
Toyota's executive vice president, Akio Toyoda, apologized for the public concern that Toyota, Japan's top automaker, had provoked by forecasting its first operating loss in seven decades. The forecast is for the fiscal year that ends in March 2009. (International Herald Tribune -- Business)
