Wednesday, 25 September 2013

US consumer confidence falls, Germany business confidence rises

Global economic data on Tuesday were mixed.

In the US, the Conference Board's consumer confidence index fell to 79.7 in September from 81.8 in August. However, the S&P/Case-Shiller index of home prices in 20 cities increased 12.4 percent in July from a year earlier, the biggest advance since February 2006.

There were also positive data on UK housing on Tuesday. The British Bankers' Association reported that mortgage approvals rose to 38,228 in August, up from 37,428 in July and the highest since December 2009.

German business confidence barely rose in September though. The Ifo institute’s business climate index edged up to 107.7 from 107.6 in August.

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