U.K. House Prices Survey Miss Is Bad News for the Pound

It was expected to come in at 9% and instead it showed 0%. That would be a big miss for any indicator, but for the U.K.'s Royal Institute of Chartered Surveyors (RICS) index of house price growth, it is a sign of a housing market that could start to weigh heavily on the economy.

The RICS residential market survey for July, released on Thursday, Aug. 10, showed house price growth stalling at a national level, pulled down by declines in London and the south-east of England. The RICS indicator is calculated as the percentage of surveyors reporting house prices increases minus those reporting declines. It was expected to rise to 9% from 7.2% in June....611 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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