Wednesday, 1 October 2014

US consumer confidence and home prices fall, eurozone inflation slows

Global economic data on Tuesday were mostly negative.

In the US, the Conference Board's consumer confidence index fell to 86.0 in September from 93.4 the month before, the S&P/Case Shiller composite index of home prices in 20 metropolitan areas rose 6.7 percent in July from the previous year but fell 0.5 percent from the previous month, and the Institute for Supply Management-Chicago business barometer fell to 60.5 in September from 64.3 in August.

In the euro area, inflation slowed further to 0.3 percent in September from 0.4 percent in August while the unemployment rate was unchanged at 11.5 percent in August.

In China, HSBC's manufacturing PMI was unchanged at 50.2 in September from the previous month but was below the preliminary reading of 50.5.

In Japan, industrial production fell 1.5 percent in August, household spending fell 4.7 percent in August from a year earlier and the unemployment rate fell to 3.5 percent in August from 3.8 percent in July.

In the UK, the economy grew 0.9 percent in the second quarter, up from 0.7 percent in the first quarter, but house prices fell 0.2 percent in September after rising 0.8 percent in August.

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