- Germany’s leading investor confidence index rose dramatically in August to its highest level in 17 months. The ZEW Center and European Economic Research’s index of institutional and analyst sentiment increased to 50 from 37 in July. Economists predicted a reading of 39 and attributed the increase to a drop in the Euro.
- Great Britain’s consumer price index rose sharply to 2.3 percent in July, its highest level since 1997, indicating another interest rate cut would not be likely anytime soon. The June CPI was 2percent; economists had expected a rise to 2.1 percent. The report comes just a couple of weeks after the Bank of England cut interest rates by a quarter point to 4.5 percent.
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