Wednesday, 21 March 2012

US building permits surge, UK inflation slows

There was relatively positive news on US housing on Tuesday. Housing starts fell 1.1 percent in February but new building permits jumped 5.1 percent to the highest since October 2008.

Meanwhile, in the UK, inflation slowed in February with consumer prices rising 3.4 percent from a year earlier compared with 3.6 percent in January. Compared to the previous month, however, consumer prices jumped 0.6 percent.

A survey by the Confederation of British Industry suggests that inflation pressures in the UK persist in March as the survey's price expectation balance rose to 24 from 10 in February. This comes even as the total order book balance fell to -8 this month from -3 in February.

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