Mortgage approvals in Britain rose to a 4-month high

Note: This section contains information in English only.
Source: Reuters
The Bank of England announced on Monday that the amount of mortgage approvals rose more than expected in September, since the bank's credit-easing plan raised accessibility of home loans. The number of mortgage approvals grew to 50,024 last month from a revised down reading of 47,921 for the preceding month. The figure rose more than expected, since analysts predict that it would reach only 48,700.

"The decline in house prices should be limited by recent healthy employment growth and low interest rates, while mortgages could become increasingly available helped by the FLS. However, we are doubtful that the economy can grow fast enough on a sustained basis in the near term at least to really help the housing market," an economist at IHS Global Insight, Howard Archer, said before the release of the data.
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Mon, 29 Oct 2012 13:20:04 GMT

U.S. PCE price index unchanged in September

The Bureau of Economic Analysis reported on Monday the U.S. personal consumption expenditure price index was unchanged in September. Month over month, prices of goods purchased by consumers, excluding food and energy, increased by 0.1% last month, unchanged from a preceding month's reading and in compliance with expectations. Consumer spending, which accounts for about 70% of the U.S. GDP, climbed

Mon, 29 Oct 2012 12:54:56 GMT

European markets edge lower on global negative news

The Stoxx Europe 600 index decreased by 0.4% to 269.45 on early London trading session. The European equity benchmark still holds a 15% gain from 4th of June, as the European Central bank announced an unlimited asset-purchasing program. Investors are concerned on Asia stocks decrease and Hurricane Sandy warnings, which forced to cancel today's U.S. trading hours.

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