Forex News – US third quarter GDP higher than expected
Posted on October 26, 2012 at 1:06 pm GMTMarket sentiment was lifted after better than expected US GDP data today. The US Department of Commerce data show that the US economy expanded by 2 percent in the third quarter, up from the second quarter’s 1.3 percent pace. The figures beat forecasts for a 1.9 percent growth rate. The accelerated rate of growth was due to a pickup in consumer spending, as well as a housing sector rebound, which overshadowed a drop in business spending and lower trade. However, [..]