Overseas Headlines – July 28, 2021

United States:

U.S. Goods-Trade Gap Widened to Second-Biggest on Record in June

“The U.S. merchandise-trade deficit widened to the second-biggest on record in June, reflecting a larger increase in imports that include costlier petroleum. The deficit grew to $91.2 billion from $88.2 billion in May, according to Commerce Department data released Wednesday. The median estimate in a Bloomberg survey of economists had called for a $88 billion shortfall last month.”



U.K. House Prices Ease as Tax Cut Starts to Phase Out

“U.K. house prices fell unexpectedly in July, signaling a loss of momentum in the property market after a tax break on purchases began to be phased out. The average value of a home fell 0.5% to 244,229 pounds ($338,800), the first decline in four months, Nationwide Building Society said Wednesday. It followed an average gain of 1.6% between April and June. The annual pace of increase slowed to 10.5% from a 17-year high of 13.4%.”



Korea Consumer Confidence Dips for First Time in 2021 Amid Virus

“South Korean consumers turned less optimistic about the economy as the country grapples with its worst coronavirus outbreak to date, a development that will be closely watched by the central bank as it mulls when to start raising interest rates. The consumer sentiment index slipped for the first time this year to 103.2 in July from 110.3 a month earlier, the Bank of Korea said in a statement Wednesday. The above-100 reading indicates respondents expressing optimism still outnumbered those with pessimistic views.”



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