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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK BBA mortgage approvals fell in August
In the UK, BBA mortgage approvals recorded a drop to a level of 39.40 K in August, compared to a revised level of 39.62 K in the prior month. Market expectation was for BBA mortgage approvals to drop to a level of 39.56 K.
US mortgage applications rose in the last week
In the US, the MBA mortgage applications climbed 2.90% on a weekly basis, in the week ended 21 September 2018. In the prior week, mortgage applications had registered a rise of 1.60%.
US new home sales advanced in August
In the US, new home sales advanced 3.50%, on MoM basis, to a level of 629.00 K in August, compared to market expectations of 630.00 K. New home sales had registered a revised reading of 608.00 K in the prior month.
Fed raised its key interest rate
The Fed, in its September monetary policy meeting, as widely anticipated, increased its key interest rate by 25 basis points to a range of 2.00% to 2.25% and hinted at one more interest rate hike in December and as many as three times in 2019, following strong US economic growth.
Chinese industrial profits rose in August
Industrial profits in China advanced 9.20% on an annual basis, in August. Industrial profits had recorded a rise of 16.20% in the prior month.
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