Thursday, 19 April 2012

China home prices fall, UK unemployment declines

China's property market continued to cool in March, with 37 out of 70 major cities tracked by the government recording falls in home prices from a year ago. This compares with 27 cities recording price falls in February.

A calculation by Reuters shows that new home prices fell by an average of 0.7 percent in March from a year ago, the first decline in two years, and by 0.3 percent from the previous month.

Meanwhile, in the UK, the unemployment rate fell to 8.3 percent in the three months to February from a 16-year high of 8.4 percent in the three months to January.

Monetary stimulus to reflate the UK economy further could be limited by concerns about inflation though. Minutes of the Bank of England's April meeting released on Wednesday show that the central bank is now concerned that inflation is likely to be higher than forecast.

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