Global stocks drift lower as investors await US data

SEOUL, South Korea (AP) — Global stock markets drifted lower on Tuesday as investors were digesting mixed reports on the health of the world economy and awaited more U.S. data later in the day.

Global markets have seen small gains and losses as investors digest mixed reports on the health of the global economy.

Britain registered a jump in producer prices — the cost of goods at the factory gate — due to the pound's slump in the wake of the vote to leave the European Union.

American consumers cut spending in July, but a survey showed that U.S. homebuilders are feeling more optimistic as prices and sales of new homes rise.

Investors will later in the day keep an eye on a run of U.S. data that will include inflation, industrial production and housing starts for July.