As per a GfK survey, the UK’s consumer confidence index slipped to +3 in September from +7 in August. The drop was mainly due to a slowdown in the Chinese economy, migrant crisis and economic stress across the Eurozone.

According to a study conducted by the International Monetary Fund (IMF), a continuous decrease in commodity prices may result in weak economic growth for commodity exporters during 2015–17. As per the study, the commodity exporters could record one percentage point decrease in growth annually during 2015-17 as against 2012–14.

According to International Monetary Fund (IMF) head Christine Lagarde, the agency is likely lower its forecast for global economic growth, mainly due to slower growth in emerging economies. The agency stated that growth of 3.3% in 2015 and 3.8% in the following year is not realistic. However, the agency would keep the growth forecast above 3%.

As per the British Bankers’ Association, the number of home loans approved in the UK rose to 46,473 in August, the highest level since February 2014, from 46,315 in July. In addition, net mortgage lending increased to £1.95bn in cash terms, the highest level since August 2010, from £1.70bn in July.

As per Markit, the Eurozone’s preliminary manufacturing PMI fell to 52.0 in September, in line with market expectations, from the final reading of 52.3 in August. The Eurozone’s preliminary composite PMI declined marginally to 53.9 in September from 54.0 in August.

As per the Office for National Statistics, the UK’s budget deficit rose to £12.1bn in August from £10.7bn a year earlier, the highest since 2012. The deficit widened largely due to a decline in tax payments from individuals and companies.

Alexis Tsipras was sworn in as the Greek Prime Minister for the second consecutive term after he led the Syriza party to victory in the general elections. Tsipras has been actively involved in Greece’s bailout and introduced a number of austerity measures in the country to stabilize the economy.

As per Rightmove, house prices in the UK jumped 0.9% m-o-m to £294,834 in September after a 0.8% m-o-m decline in August. The prices were up 6.4% y-o-y. The price rise was primarily ascribed to supply shortage.

As per the Office for National Statistics, UK’s retail sales, including automotive fuel, advanced 0.2% m-o-m in August, following a flat reading in July. This is the first rise in the past three months. For the quarter ended August, sales improved 0.4% compared with the previous quarter.

According to the Office for National Statistics, wages in the UK grew 2.9% y-o-y in the May to July period, highest growth since the three months ending January 2009. Wages of private sector workers increased 3.4% y-o-y, while that for public sector workers rose 1.3% y-o-y.

According to data from Eurostat, the trade balance in the Eurozone advanced to €22.4bn in July from €21.4bn in June. The improvement was led by a 7% y-o-y growth in exports.

Industrial production in the Eurozone rose 0.6% m-o-m in July, beating market expectations of a 0.3% increase. Industrial production had slipped 0.3% in June. On y-o-y basis, industrial production grew 1.9% compared with an expected increase of 0.6%. The improvement was ascribed to a larger volume of energy, capital and durable consumer goods.

According to the International Monetary Fund (IMF)’s Managing Director, Christine Lagarde, France’s economy is moving in the right direction, driven by reform measures undertaken by the government; however, she insists that the country still needs more active measures. Furthermore, she stated that the agency may revise France’s growth forecast to 1-2% for 2015 in its report scheduled to be released later this month

The Ireland government expects GDP to expand 6% in 2015, which would render the country the fastest growing eThe Ireland government expects GDP to expand 6% in 2015, which would render the country the fastest growing economy in the Eurozone. For the April to June quarter, the GDP grew 1.9%.conomy in the Eurozone. For the April to June quarter, the GDP grew 1.9%.

As per the Royal Institution of Chartered Surveyors (RICS), the monthly house price balance in the UK rose to 53 in August, the highest since May 2014, from 44 in July. The increase is ascribed to shortage of homes in the market. The agency has revised its estimate for house price growth for 2015 to 6% from 3% earlier.

As per the British Retail Consortium (BRC), UK shop prices fell 1.4% y-o-y in August, following a similar decline in July. Food price inflation rose 0.2%, while non-food prices declined 2.4% in August. Competition among retailers and a decline in commodity prices led to the fall.

As per the British Retail Consortium (BRC), retail spending rose 0.1% y-o-y in August; however, this is slower than the 2.2% growth reported in the previous month. On like-for-like (LFL) basis, sales slipped 1.0% in August, after increasing 1.2% in July. Retail sales are expected to improve in September.

China’s National Bureau of Statistics revised its gross domestic product (GDP) growth to 7.3% for 2014 from 7.4% reported earlier. The decrease is ascribed to the services sector, which expanded 7.8% in 2014 against the expectation of 8.1%. Separately, Chinese central bank governor Zhou Xiaochuan informed that the Chinese yuan is steadying against the dollar, implying stability in financial markets.

ECB’s President Mario Draghi stated that the bank would keep its monthly asset purchase programme unchanged at €60bn. He further reported that ECB would raise the amount of any one share of bond issued that is purchasable by the bank to 33 percent from 25 percent. Draghi hinted that the ECB could take its bond buying program beyond September 2016, if required.

According to the International Monetary Fund (IMF), slowdown in China’s economy and other downside risks, including weak growth in other parts of the world and a strengthening US dollar, could hurt the global economy. The agency stated that a combined policy action would help in improving growth and mitigating risks.

The UK’s manufacturing PMI slipped to 51.5 in August from 51.9 in July, as per the data from Markit and the Chartered Institute of Purchasing & Supply. The reading was below the market forecast of 52.0. The decrease in PMI was ascribed to a strong pound, weak sales in the Eurozone and a slowdown in China.

The final Caixin/Markit manufacturing purchasing managers’ index (PMI) fell to 47.3 in August from 47.8 in July, the lowest reading since March 2009. Separately, China’s official PMI also slipped to 49.7 in August from 50 in July, lowest in three years. The disappointing data releases further dampened the economic outlook for China.