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Home sales in March rose from February totals with the onset of spring, although consumer confidence continues to affect market activity. According to the latest report, total home sales (which include single-family and condominiums) were up 24.5 percent in March 2008 to 8,509 sales compared to February 2008 sales of 6,832; sales were down 29.5 percent from March 2007 totals of 12,075.

Global Investor Confidence fell by 4.4 points to 72.8 from a revised March level of 77.2. Amongst North American investors, confidence fell 4.9 points from 83.2 to 78.3. European investors were even more pessimistic, and their risk appetite declined by from 87.7 to 76.8. Asian investors, however, were somewhat less gloomy and their confidence saw only a modest decline from 87.9 to 86.2.

The list of banks rescuing and recapitalising themselves shows no sign of stopping. Last week we saw $US7 billion deals for US banks like Washington Mutual, Wachovia Corp and JP Morgan. This week we saw Ohio bank, National City flog up to $US7 billion (perhaps a bit more) of new shares (and severely dilute existing shareholders). Citigroup sold $US6 billion in so-called hybrid stock that qualify as debt and equity.

The Conference Board announced that the leading index for Germany declined 0.9 percent and the coincident index increased 0.1 percent in February.

Existing-home sales edged down in March, remaining within a narrow range of sales activity that has persisted since last September, according to the National Association of Realtors(R).

Engineers, machinists and skilled trade workers are among the nation's most challenging positions to fill, according to survey findings released by Manpower Inc.

The uncertain outlook for growth and inflation as well as improvements to financial supervision in the EU and the strong euro were key issues discussed by European Central Bank Vice-President Lucas Papademos when he presented the ECB's annual report to the Economics Committee on Monday.

The European Commission has presented to the European Parliament its regular report on the openness of the European market to imports from developing countries. The report sets out how the EU has continued in 2007 to use its trade policy to advance a pro-development agenda and analyses the relevant data for which the most recent available is for the period up to the end of 2006. The report shows that the EU continues to offer market access for developing country exports that is unmatched by any other major economy. EU imports from developing countries rose 16% in 2006 from 2005 and by 14% if imports from China are excluded. According to the WTO, overall global merchandise trade grew by around 8% over the same period.

United States IPO (initial public offering) activity in 2007 was the highest since 2000. During 2007, 296 IPOs generated $65.1 billion in proceeds compared to 236 IPOs that raised $49.9 billion in 2006. The turbulence in the credit markets did not hinder IPO activity in the latter half of 2007. In fact, the fourth quarter, with 101 IPOs, was the most active quarter in terms of IPO volume in the last eight years.

According to the latest revisions, the EU27 external current account recorded a deficit of 2.8 billion euro in the fourth quarter of 2007, compared with a deficit of 13.4 bn in the fourth quarter of 2006 and a deficit of 21.2 bn in the third quarter of 2007.