News

Economic Section The Times July 09

Retail Sales: The CBI's gauge of high street sales rose to minus 15 during July, from minus 17 in June. Economists had expected a rise to minus 12. While the figures mark an improvement from the average level of minus 25 in the first half, they are still well below the long term average of plus 18.

House Prices: Figures from the Land Registry showed that prices paid for houses in England and Wales had risen by 0.1 per cent in June, the first rise recorded during 18 months. The annual pace of house price falls had also eased, to 14 per cent in June, from 15.9 per cent in May.

US Confidence: The US Conference Board's consumer confidence index fell for the second month in a row to 46.6 in July, from an eight month peak of 54.8 in May. Analysts had expected a reading of 49.

US housing market: American house prices have risen for the first time in three years. The S&P/Case Shiller house price index for 20 metropolitan areas rose by 0.5 per cent during May, after a fall of 0.6 per cent in April. This took the annual decline to 17.1 per cent, from 18.1 per cent.