It looks like the Federal Reserve may pause for quite a while. From Reuters:
The Labor Department said its core consumer price index, an inflation gauge that strips out volatile food and energy costs, rose 0.2 percent in July -- breaking a four-month string of 0.3 percent increases. Overall, consumer prices were up 0.4 percent in July after a 0.2 percent gain in June.
Separately, the Commerce Department said housing starts fell 2.5 percent in July to an annual pace of 1.795 million units from a 1.841 million unit pace in June.
A third report on industrial production from the Fed, said output in July rose a smaller-than-anticipated 0.4 percent, only half of June's 0.8 percent climb.
Reuters also reports the release of the Bank of England's minutes of the August 2 and 3 meeting, showing a 6-1 vote in favour of raising interest rates but little else to suggest further hikes. The caution is perhaps justified, given the accompanying news that the UK unemployment rate hit a six-year high even though earnings growth accelerated.
Data out from Asia have also looked a little cooler lately.
AFX/Forbes reports Japan's leading index:
The index of leading economic indicators for June has been revised upward to 54.5 from the preliminary reading of 50.0, the Cabinet Office said.
AFP/CNA reports China's fixed asset investments:
Urban fixed assets, a measure of investment in China's major infrastructure projects, totaled 4.47 trillion yuan (560 billion dollars), up 30.5 percent from the same period a year ago, the National Bureau of Statistics said.
No figures for July alone were provided.
China's urban fixed asset investments rose 31.3 percent in the first six months of the year, according to previously released figures.