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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK BBA mortgage approvals surprisingly dropped in February
BBA mortgage approvals in the UK registered an unexpected drop to a level of 35.30 K in February. In the previous month, BBA mortgage approvals had recorded a revised level of 39.56 K.
German consumer confidence index surprisingly slid in April
The GfK consumer confidence index in Germany unexpectedly dropped to a level of 10.40 in April. In the previous month, the index had registered a reading of 10.70.
US housing starts slid in February
In the US, housing starts registered a drop of 8.70%, to an annual rate of 1162.00 K, on monthly basis, in February, compared to a revised level of 1273.00 K in the prior month. Market expectation was for housing starts to ease to a level of 1210.00 K.
US housing price index advanced more than expected in January
In the US, the housing price index registered a rise of 0.60% on a MoM basis, in January, compared to an advance of 0.30% in the prior month. Markets were anticipating the index to rise 0.40%.
US building permits slid in February
In the US, building permits eased 1.60%, to an annual rate of 1296.00 K, on MoM basis, in February, lower than market expectations of 1305.00 K. Building permits had registered a revised reading of 1317.00 K in the previous month.
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