Wednesday, 19 September 2012

US homebuilder confidence at highest level in six years

Economic data on Tuesday were mostly positive.

In the US, confidence among homebuilders climbed in September to the highest level in more than six years. The National Association of Home Builders/Wells Fargo builder sentiment index rose to 40 this month from 37 in August.

Meanwhile, German investor confidence rose for the first time in five months in September. The ZEW's index of investor and analyst expectations rose to minus 18.2 from minus 25.5 in August.

And the inflation rate in the UK declined in August to 2.5 percent from 2.6 percent in July.

Also slowing is home price gains in China. Prices for newly constructed homes in China rose in 35 of 70 cities in August, down from 49 in July.

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