U.S. Home-Price Growth Sets Another Record as Market Stays Hot
“U.S. home prices once again surged the most in more than 30 years. Nationally, the S&P CoreLogic Case-Shiller index of property values climbed 16.6% in May from a year earlier, according to a statement on Tuesday. That followed a 14.8% gain in April and was the 12th straight month that price gains accelerated.”
German Business Confidence Unexpectedly Falls as Risks Mount
“German business confidence unexpectedly slipped in July, signaling concern that supply bottlenecks and resurgent infections could slow the recovery. A gauge by the Munich-based Ifo Institute fell to 100.8 from 101.7 in June. Economists in a Bloomberg survey had expected an improvement. An index measuring expectations slipped to the lowest in three months, while current conditions continued to improve.”
China’s Export Boom Helps to Widen Regional Growth Gap
“China’s rapid economic recovery in the first half of the year was fueled by manufacturing-heavy provinces on the eastern coastal line of the country, widening the gap with inland regions. Five of the six best-performing provinces in the first six months of the year were from the southern and eastern parts of China, including major manufacturing and export hubs Zhejiang, Jiangsu and Guangdong, according to official regional data collated by Bloomberg News.”
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