After reporting a modest drop in U.S. consumer confidence in the month of April, the Conference Board released a report on Tuesday showing a further deterioration in confidence in May.
The Conference Board said its consumer confidence index fell to 64.9 in May from a downwardly revised 68.7 in April. The drop surprised economists, who had expected the index to edge up to 69.7 from the 69.2 originally reported for the previous month.
With the unexpected decrease, the consumer confidence index fell to its lowest level since coming in at 61.5 in January.
The drop by the headline index reflected a deterioration in consumers' appraisal of current conditions as well as a less optimistic outlook for the next six months.
1.8m SMEs operating in Kingdom; 48% are said to be in trading
There are 1.8 million small and medium businesses in the Kingdom yet only 71% of which are actually operating. About 48 percent of these businesses are working in trading, 11% in manufacturing and 1
Dar Al Arkan to launch an International Islamic Sukuk Programme
Dar Al-Arkan Real-Estate Development Company ("DAAR") is pleased to announce the commencement of investor meetings on Monday 20/05/2013 corresponding to 10/07/1434 Hijri to launch the first tranche o
Masdar shows Rotterdam projects
Bader Al Lamki, director of Masdar Clean Energy, delivered a keynote speech recently stressing the importance of collaboration and co-innovation as a pathway to accelerate the technologies and polic
SAIREC set to create real estate authority in Saudi Arabia
The 3rd Saudi International Real Estate Conference (SAIREC) opened Sunday, by the Minister of Commerce and Industry Tawfeeq Al Rabiah, with the aim of creating a higher authority for real estate sec
Jafza-DP World $30m project on track
The $30 million Jafza-DP World joint project to build new Gate 4 and restructure roundabout 6 is moving on track.
The initiative launched in September 2012 is scheduled to finish and bec