Gulf Countries

Macro Snapshot —  US housing starts to tumble in July; Greece’s budget deficit below expectations

August 16, 2022
Henry

Tue, 2022-08-16 18:10

CAIRO: Strong Israel economic growth and inflation data is expected to prompt a 0.75 percent rate hike, US housing started to tumble in July, Greece’s budget deficit was much lower than expected in January-July, and UK’s unemployment rate held at 3.8 percent in three months to June.

Israel’s GDP, inflation data 

A sharp rebound in Israel’s economic activity and a jump in annual inflation have made a 0.75 percent interest rate increase more likely next week, analysts said on Tuesday.

US homebuilding fell sharply in July, weighed down by higher mortgage rates and prices for materials, suggesting that the housing market could contract further in the third quarter.
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