Friday, 30 November 2012

US third quarter growth revised up, eurozone economic sentiment improves

A report on Thursday showed that US third quarter GDP has been revised up to 2.7 percent from 2.0 percent reported last month. Inventory accumulation and exports contributed positively to the revision but consumer spending was cut to a 1.4 percent growth rate from 2 percent.

Another report from the US on Thursday showed that pending home sales rose 5.2 percent in October.

There was also good news for the euro area on Thursday. The European Commission's economic sentiment indicator rose to 85.7 in November from 84.3 in October.

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