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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK mortgage approvals dropped more than expected in July
In the UK, mortgage approvals fell to 75.20 K in July, compared to a revised reading of 80.30 K in the previous month. Markets were expecting the mortgage approvals to fall to a level of 78.60 K.
Euro-zone CPI advanced more than anticipated in August
In the Euro-zone, the consumer price index (CPI) rose 3.00% on YoY basis in August, compared to an advance of 2.20% in the prior month. Markets were expecting the CPI to record an advance of 2.70%.
German unemployment rate unexpectedly fell in August
In Germany, the seasonally adjusted unemployment rate dropped to 5.50% in August, compared to a revised rate of 5.60% in the previous month. Markets were expecting the unemployment rate to remain unchanged at 5.60%.
US consumer confidence index dropped more than expected in August
In the US, the consumer confidence index eased to a level of 113.80 in August, compared to a revised reading of 125.10 in the previous month. Markets were expecting the index to record a fall to 124.00.
US housing price index rose less than market forecast in June
In the US, the housing price index advanced 1.60% on a MoM basis in June, compared to a revised rise of 1.80% in the prior month. Markets were expecting housing prices to record a rise of 2.10%.
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