US durable goods surged in July, thanks to soaring aircraft orders.
US home price gains continued, but at a slower pace.
And US consumer confidence kept rising…
…as the Fed’s preferred gauge shows little sign of inflation
And second-quarter US GDP growth was better than first thought, thanks to investment
A buoyant US seems to be helping Canada, which grew faster than expected in the second quarter
While Europe, skirted even closer to deflation in August.
And in fact, Italy joined countries like Greece, Spain and Portugal in deflation.
Meanwhile in the continent’s troubled banking system, business lending continues to shrink…
…and the euro zone’s second largest economy, France, is facing a jobs crisis
Brazil slipped into recession in the second quarter
Argentina’s currency collapse continued
But South Africa was able to avoid recession
And India’s economic growth was peppier than expected
