Forex Fundamentals - UK Housing Prices increase 1.3%. Eurozone retail sales drop 0.5%.

January 8, 2008 - Forex Economic News

In European economic data released today, UK Housing prices increased 1.3 percent in December after three months of falling prices according to the Halifax House Price Index. Despite price gains in December, housing prices in the fourth quarter were 0.8 percent lower than the third quarter. Compared to December 2006, housing prices in the UK are up 5.2 percent with the average price of a home at £197,039. The outlook for the UK housing market is downcast as chief economist Martin Ellis stated in the report that "House prices increased by 1.3 per cent in December, reversing some of the declines recorded in the preceding three months. This mixed pattern of monthly price rises and falls is a typical characteristic of a subdued market."

Eurozone retail sales dropped 0.5 percent in November from October in data released today by Eurostat. This follows a 0.7 percent drop in October from September. The EU27 showed a 0.2 percent drop in November compared to a 0.4 percent decrease the month prior. Retail Sales have dropped 1.4 percent compared to November of 2006 with the EU27 showing a 0.9 percent increase compared to November 2006.

Tags: Eurozone retail sales, Eurostat, UK Housing Prices, Halifax House Price Index-------------------------------------------------------------------------------- Blog index