Confidence among Japanese manufacturers worsened slightly in the fourth quarter and firms expect conditions to deteriorate more, highlighting the challenges premier Shinzo Abe faces in reviving the economy a day after his big win in Sunday's snap election.
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Jack Reed can see the recovery taking hold at his family's 109-year-old clothing store in Tupelo, Mississippi, with sales buoyed in part by the paychecks tied to a Toyota plant up the road and rising confidence that the jobs are here to stay.
U.S. consumer spending rose modestly in October and a measure of business spending plans fell for a second straight month, suggesting some slowing in the pace of economic growth.
Germany narrowly avoided recession in the third quarter of the year and France exceeded low expectations, putting the euro zone on course for anemic growth but no contraction.
An improving U.S. economy has failed to galvanize the consumer discretionary sector so far this year, but a recent rally in restaurant stocks as the holidays approach could herald happier days ahead for other retailers.
A report by Reuters said the financial crisis had shifted consumer spending habits in the UK from making bulk purchases in superstores to frequent small purchases in nearby small shops, prompting major grocers to change focus of their capital investment to the new consumer trend to attract potential investors.
Inflation was tame and consumer spending increased for August.
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