There was some positived news from the American Housing Market for sales of new single-family homes, which has increased by 11% in June to an annual rate of 384,000. However, this was still 21.3% lower than in June 2008, despite the prices of houses in the 20 largest cities rose by 0.5% in May, as according to the S&P/Case-Shiller index. Other than that the index of American consumer confidence fell to 46%for July from 49.3% in June.
New orders for durable goods in America declined by 2.5% in June to $158.6 billion, after rising for both months of April and May while the biggest declines were in orders for transport equipment. Orders for other durable goods increased by 1.1%.
Asian powerhouse, Japan reported its industrial output went up by 2.4% in June. Although this was the fourth monthly rise in a row, output was 23.4% down on a year earlier.
From accross the globe, Britain reported its GDP fell by 0.8% for the three months to June 2009, having declined by 2.4% in the first quarter to March 2009. The economy shrank by 5.6% in the year for the second quarter, the largest contraction since the comparable records began in 1955.
The annual rate of consumer-price inflation in South Africa fell to in June to 6.9% from 8% in May.
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