Gloom to increase fears of global recession

Mounting fears about the likelihood of a global recession will be fuelled by this week’s data, which promise further bad news from the US housing market, disappointing inflation data and more evidence that industrial activity is weakening.
The US housing market remains moribund with the National Association of Home Builders index, due today, expected to remain at a record low of 16 in August. Housing starts for July, due out tomorrow, are expected to weaken from 1.07m in June to 960,000.
However, activity in the west of the US has started to revive with housing starts rising for the past three months....