This morning’s release of the Realized Sales report from the Confederation of British Industry (CBI) revealed an economy a little worse for wear. Although housing remains an increasingly stable sector of Britain’s economy, unemployment and consumer spending are lagging well behind. The Realized Sales report only highlighted this tension.
Expectations for this composite index were for a contraction to a reading of negative 10. The actual result showed a reading of negative 14 and paints a far more grim picture than was earlier assumed. The index does not contain an accurate picture of the entire British economy, only a portion of it, making it less impactful but nonetheless ominous.
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Greg Holden is the Chief Market Analyst at ForexYard. Greg uses his detailed knowledge of fundamental and technical analysis to provide some of the leading market forecasts in the forex world today. A guest lecturer at forex symposiums and Chief Editor of ForexYard's analysis center, Greg brings highly detailed and easy-to-use market analyses to his clientele. He has been published on ForexYard's Trading Blog and affiliate websites. Greg holds degrees in Political Science and Economics from Missouri State University, as well as a Masters degree in Middle Eastern History.
