Wednesday, 14 August 2013

US retail sales and eurozone industrial production rise

Economic data on Tuesday were mostly positive.

US retail sales rose 0.2 percent in July, its fourth consecutive increase. While the rise in total sales was less than the 0.6 percent increase in June, retail sales excluding autos, gasoline and building materials, increased 0.5 percent last month, the most since December.

Other reports from the US on Tuesday showed that import prices rose 0.2 percent in July while business inventories were little changed in June.

In the euro area, a report on Tuesday showed that industrial production rose 0.7 percent in June after having fallen 0.2 percent in May.

In Germany, the ZEW index of investor and analyst expectations rose to 42.0 in August from 36.3 in July.

In the UK, a report on Tuesday showed that consumer price inflation slowed to 2.8 percent in July from 2.9 percent the previous month even as a July survey from the Royal Institution of Chartered Surveyors found the fastest growth in house prices since 2006.

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