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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK house price balance dropped more than expected in August
In the UK, the house price balance eased to 73.00% in August, compared to 79.00% in the previous month. Markets were expecting house price balance to record a drop to 75.00%.
US mortgage applications fell in the week ended 3 September 2021
In the US, mortgage applications dropped 1.90% on a weekly basis in the week ended 3 September 2021, compared to a drop of 2.40% in the prior week.
US JOLTS job openings unexpectedly rose in July
In the US, the JOLTS job openings advanced to 10,934.00 K in July, compared to a revised level of 10,185.00 K jobs in the previous month. Markets were expecting the JOLTS job openings to fall to 10,000.00 K jobs.
Fed’s Beige Book: US economy downshifted slightly
According to the US Federal Reserve’s (Fed) latest Beige Book report, the overall US economic growth had “downshifted slightly to a moderate pace” since early July to August, amid renewed concerns over rising coronavirus cases. Further, the report noted that all districts witnessed rising employment but also observed extensive labour shortages that were limiting employment and affecting business activity. Meanwhile, the report indicated that inflation remained “steady at an elevated pace”.
China’s CPI climbed less than expected in August
In China, the CPI advanced 0.80% on a YoY basis in August, compared to an advance of 1.00% in the prior month. Markets were expecting the CPI to climb by 1.00%.
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