Economic News - August 18, 2008

Here is the latest economic news from Monday August 18, 2008 and overnight into Tuesday morning:

Housing Market Index - August 2008

Current Month Index: 16
Monthly Change: Unchanged

France still barely holding on, Leading index down again

The French index of leading economic indicators from the Conference
Board declined again in June, 0.2% this time, while the coincident
index, which measures current economic activity was unchanged. In May,
the coincident index was up 0.1% and the leading index fell 0.2%.

France Readies Plan to Halt Recession

France aims to present a plan on how to prevent the euro zone from falling into recession at next month's meeting of EU finance ministers.

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Growth in Labor Costs Accelerates

The growth in labor costs picked up in the first quarter, the OECD said, a trend likely to concern central banks.

Australia's Central Bank Says It May Cut Rates `Soon' to Shore Up Growth

Australia's central bank said it may soon cut interest rates for the first time in seven years to avoid a ``deeper and more persistent'' economic slowdown.

German Investor Sentiment May Have Held Near Record Low as Recession Looms

German investor confidence probably held near a record low in August after Europe's largest economy contracted in the second quarter, increasing the risk of a
recession, a survey of economists shows.

Mexico industrial output loses steam in June

S. California July home sales rise 14 percent

Foreclosures fuel S. California July home sales