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Global markets: US consumer prices hold steady

By Commodity News Service Canada

WINNIPEG, August 16 – The following is a glance at the news moving markets globally.

US CONSUMER PRICES UNCHANGED IN JULY
The cost of consumer goods in the US held steady in July, according to reports out of the country on Tuesday.

The flatness followed two months of 0.2 per cent increases, and is likely due to lower gasoline prices.

CANADIAN MANUFACTURING SALES INCREASE IN JUNE
Manufacturing sales rose 0.8 per cent to C$50.2 billion in June, following a one per cent decline in May, Statistics Canada said in a report on Tuesday.

According to StatsCan, higher sales of machinery and transportation equipment products were largely responsible for the gain. Nearly three-quarters of the increase in June was attributable to these two industries.

Overall, sales were up in 15 of 21 industries, representing 62 per cent of the manufacturing sector. Durable goods rose 1.6 per cent to C$27.0 billion, while non-durable goods decreased 0.1 per cent to C$23.2 billion. Constant dollar sales increased 0.5 per cent, indicating a higher volume of goods sold.

US HOUSING STARTS REACH FIVE-MONTH-HIGH
US housing starts increased in July, as residential construction picked up after a slower second-quarter, market watchers said.

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