20100728 1023 Global Economic News.

U.S: Confidence slips to five-month low in July. The Conference Board's sentiment index fell to 50.4, below the median forecast of economists surveyed by Bloomberg News and to the lowest level since February this year. (Source: Bloomberg)

U.S: Home prices in 20 cities rose more than forecast in May. The S&P/Case-Shiller index of property values increased 4.6% YoY from May 2009, the biggest year-over-year gain since August 2006. (Source: Bloomberg)

India: Central bank increased a key interest rate as it battles to contain a surge in inflation that's triggered labor strikes and opposition-party organized public protests. The Reserve Bank of India raised the reverse repurchase rate to 4.5% from 4.0% and the repurchase rate to 5.75% from 5.5%, according to a statement from the central bank in Mumbai. (Source: Bloomberg)

S. Korea: Consumer sentiment held at five-month high in July as the nation's economy strengthened and the region weathered global risks. The sentiment index was 112, unchanged from June. (Source: Bloomberg)

Korea - Bank of Korea wants to signal rate rise at June meet
A majority of Bank of Korea board members wanted to flag an imminent rise in interest rates at their June meeting, before increasing borrowing costs this month for the first time since the global crisis. Three out of five members urged Governor Kim Choong Soo to send a stronger signal that rates may start to rise as early as July, according to minutes of the 10 June meeting released by the central bank. (Bloomberg)

Hong Kong: Exports climb more-than-estimated 26.7% YoY in June. Shipments rose to HKD 267.6b (USD 34.4b) after gaining 24.4% YoY in May. (Source: Bloomberg)

South Africa - Sheds jobs, denting economic recovery
South Africa’s unemployment rate, the highest of 62 countries tracked by Bloomberg, was little changed in the second quarter as the economy failed to create jobs, undermining the strength of the recovery. The jobless rate increased to 25.3% from 25.2% in the first quarter, statistics showed. The number of people with work fell by 61,000 to 12.7m. (Bloomberg)