Falling US consumer confidence and weak housing data fuel recession fears - business live

Rolling coverage of the latest economic and financial news, including weaker-than-expected housing data from Britain and AmericaLatest: Big fall in consumer confidenceUS housing starts dropUK mortgage approvals weaker than expectedEarlier:Plumbing firm Ferguson in profits warningGerman consumer confidence fell this monthMarkets gripped by recession worries 2.59pm GMT Several economists and analysts fear that the fall in US consumer confidence may show America’s economy is weakening.Mar Con