All articles tagged with #business sentiment
The article discusses the challenge Labour faces in restoring business confidence after the recent Budget, which many in the business community found damaging, and highlights the importance of government actions and policies in influencing economic growth and investor sentiment in the UK.
Asia-Pacific markets traded mixed with Hong Kong's Hang Seng index jumping 1.86% while Japan's Nikkei 225 lost 0.26% as business sentiment among large manufacturers soured. Japan's exports rose 11.9% in January, beating estimates, but the country posted a trade deficit of 1.758 trillion yen. Australia's annual wages rose at the fastest pace in 15 years, and U.S. crude oil futures pulled back after hitting a three-month high due to the conflict in the Middle East. HSBC reported a 78% jump in pre-tax annual profit, missing market estimates, and its Hong Kong shares dipped more than 2%.
Stock futures fell in premarket trading, extending losses from the previous session, with Dow Jones, S&P 500, and Nasdaq-100 futures all slipping. Interactive Brokers' stock dropped after reporting lower-than-expected earnings. UK inflation rose to 4%, led by alcohol and tobacco prices. China's fourth-quarter GDP missed expectations, and Hong Kong shares tumbled over 2%, led by real estate stocks. Business sentiment at large Japanese companies dipped, and NYU's Damodaran believes the market is overvalued by 9% to 10%.
The Business Outlook Survey for the fourth quarter of 2023 indicates a sharp decline in business sentiment, with top concerns shifting to demand and uncertainty. Plans for abnormally large price increases have decreased, while demand and competitive pressures are impacting firms' price growth. More firms have experienced outright sales declines over the past year, and sales outlooks remain modest. Credit conditions are tightening, and more firms plan to repair and replace equipment rather than expand operations. Additionally, there is lower employment demand and less-intense labor shortages, while wage growth continues to trend downward and short-term inflation expectations are slowly decreasing.