Quick Overview

• The U.S. Labor Department said that consumer prices were up 0.2% and up 3.8% YoY. Excluding food and energy prices were up 0.2% and up 2.8% YoY.
  

• U.S. Industrial production was down 0.1%.
  

• The New York Federal Reserve's regional manufacturing index increased from 11.0 to 13.8.
  

• China announced a cut in its export tax rebates reducing advantages it provides to Chinese exporters in order to curb its trade surplus which hit a record high of $18.8 billion in August. The export rebates were cut on steel, coal, natural gas and textiles.
  

• In the EU-12 consumer prices were up 2.3% YoY.
  

• China and India must move to curb corruption or else their booming economies will likely falter, a senior World Bank official said on Friday.
  

• Japan’s publicly traded real estate investment trusts and unlisted property funds saw their aggregate assets increase about 80% YoY to nearly 8 trillion yen (US$68.4 billion)
  
  

• The International Monetary Fund warns that Britain's overvalued housing market is vulnerable to further increases in interest rates.