Stock Market Today

LONDON — U.K. consumer confidence weakened for the third straight month inAugust as Britons became much more pessimistic about the economic outlook.

The Nationwide Building Society Wednesday said the headline measure ofconfidence in its monthly survey fell to 48 from 49 in July. The continuingerosion of confidence suggests consumer spending will remain weak within the monthsahead, making life difficult for retailers and threatening to derail thefaltering economic recovery.

The survey was conducted among July 25 and August 21, a period during whichmost economic data pointed to a slowdown in growth.

But that survey period was also notable for widespread rioting and looting inLondon and a number of other English cities over a four-day period. Against thatbackdrop, the decline in confidence appears modest.

“Further signs that the UK economy is struggling to gain momentum, disorder ina number of English cities and renewed turbulence in global financial marketswould all have been expected to weigh down heavily on confidence during themonth,” said Robert Gardner, Nationwide’s chief economist.

The proportion of those surveyed describing the outlook for the economy overthe next 6 months as “good” was unchanged at 16%, but the proportiondescribing it as “bad” rose to 36% from 31%.

The proportion expecting many or some jobs to be available in 6 months’ timewas unchanged at 21%, while the proportion expecting not many or few jobs to beavailable fell to 56% from 57%.

Of the 1,000 people surveyed, 13% expected their income to be higher in sixmonth’s time, up from 12% in July, while 19% expected their income to be lower,down from 20% in July.

-By Paul Hannon, Dow Jones Newswires; +44 20 7842 9491; paul.hannon@dowjones.com

 (End) Dow Jones Newswires 09-20-111945ET Copyright (do) 2011 Dow Jones & Company, Inc.

BIRMINGHAM, England — U.K. Chief Secretary to the Treasury Danny Alexandersaid he is not aware of any plans to spend up to GBP5 billion ($7.86 billion) oninfrastructure projects.

The BBC is reporting that some cabinet ministers believe Chancellor of theExchequer George Osborne could find up to GBP5 billion to spend oninfrastructure without requiring the government to abandon its deficit-reductionplan.

Speaking to Dow Jones Newswires on the sidelines of the Liberal Democratsannual conference, Alexander said he had not been involved in any discussionsabout this matter.

“We have not changed our plans [to reduce the deficit]; to say that we have iscompletely wrong,” he said.

-By Ainsley Thomson and Nicholas Winning, Dow Jones Newswires; 44 20 78429318; ainsley.thomson@dowjones.com

 (End) Dow Jones Newswires 09-20-112015ET Copyright (do) 2011 Dow Jones & Company, Inc.

BIRMINGHAM, England — U.K. Chief Secretary to the Treasury Danny Alexandersaid he is not aware of any plans to spend up to GBP5 billion ($7.86 billion) oninfrastructure projects.

The BBC is reporting that some cabinet ministers believe Chancellor of theExchequer George Osborne could find up to GBP5 billion to spend oninfrastructure without requiring the government to abandon its deficit-reductionplan.

Speaking to Dow Jones Newswires on the sidelines of the Liberal Democratsannual conference, Alexander said he had not been involved in any discussionsabout this matter.

“We have not changed our plans [to reduce the deficit]; to say that we have iscompletely wrong,” he said.

-By Ainsley Thomson and Nicholas Winning, Dow Jones Newswires; 44 20 78429318; ainsley.thomson@dowjones.com

 (End) Dow Jones Newswires 09-20-112015ET Copyright (do) 2011 Dow Jones & Company, Inc.

TOKYO -(Dow Jones)- Japanese exports rose 2.8% on yr in August to Y5.358trillion, Finance Ministry data showed Wednesday, snapping a five-month fallcaused largely by production disruptions after the March 11 earthquake andtsunami.

But the result was well below the 8.2% increase forecast by economists polledby Dow Jones Newswires and the Nikkei. In July exports fell 3.4%.

Japan posted a bigger-than-expected Y775.3 billion trade deficit in Augustafter two months of modest surpluses, reflecting sharper gains in imports amidelevated global energy prices, the information showed.

Economists had expected a Y230 billion deficit for August. In July, Japan hada surplus worth Y70 billion.

Imports rose 19.2% to Y6.133 trillion in August, according to the data, the20th straight month of on-year growth.

Although recovery from the disasters is well under way, the trade shortfalls,as well as threats to Japan’s exports from slowing global growth and the yen’spersistent strength, suggest the outlook for the nation’s export-led economicrecovery remains cloudy.

-By Takashi Nakamichi, Dow Jones Newswires; +81-3-6269-2781;takashi.nakamichi@dowjones.com

 (Finish) Dow Jones Newswires 09-20-112016ET Copyright (do) 2011 Dow Jones & Company, Inc.

TOKYO -(Dow Jones)- Japanese exports rose 2.8% on yr in August to Y5.358trillion, Finance Ministry data showed Wednesday, snapping a five-month fallcaused largely by production disruptions after the March 11 earthquake andtsunami.

But the result was well below the 8.2% increase forecast by economists polledby Dow Jones Newswires and the Nikkei. In July exports fell 3.4%.

Japan posted a bigger-than-expected Y775.3 billion trade deficit in Augustafter two months of modest surpluses, reflecting sharper gains in imports amidelevated global energy prices, the information showed.

Economists had expected a Y230 billion deficit for August. In July, Japan hada surplus worth Y70 billion.

Imports rose 19.2% to Y6.133 trillion in August, according to the data, the20th straight month of on-year growth.

Although recovery from the disasters is well under way, the trade shortfalls,as well as threats to Japan’s exports from slowing global growth and the yen’spersistent strength, suggest the outlook for the nation’s export-led economicrecovery remains cloudy.

-By Takashi Nakamichi, Dow Jones Newswires; +81-3-6269-2781;takashi.nakamichi@dowjones.com

 (Finish) Dow Jones Newswires 09-20-112016ET Copyright (do) 2011 Dow Jones & Company, Inc.