U.S. pending sales of existing homes declined 1.6% in August

Note: This section contains information in English only.
Source: Bloomberg
© Scanpix/Reuters
Less contracts for previously owned houses were signed in August, adding to the case of slowing housing market momentum due to increasing mortgage rates. The pending home sales index dropped 1.6%, while economists had expected 1% reduction. The average rate of a fixed mortgage for 30 years was 4.58% as of August 22, the highest level since July 2011.
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Thu, 26 Sep 2013 15:51:41 GMT

Eurozone's leading indicator rises in August for third time in row

Performance leading indicator of the 17-nation bloc economy advanced for the third consecutive month in August suggesting that the economic situation in the area is improving, a data released by the Conference Board showed on Thursday. The leading economic index added 0.9% on a monthly basis to 108.9 in August, following a 0.8% gain and 0.6% in July and June

Thu, 26 Sep 2013 14:38:04 GMT

Fed is about to lose face if tapers in October

The Federal Reserve is considered to lose face, if decides to taper in October after its unexpected decision in mid-September, yet experts consider stimulus cut plausible. Alongside investors' ambiguity around the Fed asset purchasing program, the central bank's promise of close-to-zero rates may harm confidence in future economic growth and hurt economic activity today.

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