The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK CPI advanced more than expected in August
In the UK, the consumer price index (CPI) climbed 0.70% on a MoM basis, in August, compared to an unchanged reading in the prior month. Markets were anticipating the CPI to climb 0.50%.
UK house price index rose more than expected in July
On an annual basis in the UK, the house price index climbed 3.10% in July, higher than market expectations for an advance of 2.70%. In the previous month, the index had registered a revised rise of 3.20%.
Draghi urged for a new Euro-zone fiscal instrument to fight crisis
The ECB President, Mario Draghi, hinted that the region requires a new fiscal tool and more public risk-sharing before another crisis hits the economy.
US housing starts rose in August
Housing starts in the US recorded a rise of 9.20%, on monthly basis, to an annual rate of 1282.00 K in August, higher than market expectations of 1238.00 K. In the previous month, housing starts had recorded a revised reading of 1174.00 K.
US building permits surprisingly fell in August
The US building permits unexpectedly eased by 5.70%, on monthly basis, in August, to an annual rate of 1229.00 K, lower than market expectations of 1310.00 K. In the prior month, building permits had recorded a revised reading of 1303.00 K.
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