U.S. economy grew at revised 1.7% in Q2

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Source: Forexpros

The world's biggest economy expanded 1.7% in the second quarter from a reading of 1.5% in the first quarter, meeting analysts' estimates. Also in the report, made by the Bureau of Economic Analysis, personal consumption rose 1.7% instead of a prior reading of 1.5%, while imports added 2.9%, versus an initial estimate of 6.0%.

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Wed, 29 Aug 2012 18:08:10 GMT

Italian retail sales gain 0.4% in June

Italian retail sales gained in June, while the result was unexpected, as the Eurozone's third biggest economy is in a recession. The economists had anticipated a drop of 0.2 per cent, while Italian retail sales rose by a seasonally adjusted 0.4 per cent in June. In the meanwhile, Italy entered a recession in the end of 2011, and nation's economy shrank by 0.7 per cent

Wed, 29 Aug 2012 17:46:10 GMT

Gold futures flat after U.S. GDP data

Gold futures were little changed on Wednesday, August 29, after data indicated that the U.S. economy expanded more than expected in the second quarter.  Bullion inched 0.01 per cent lower to $1,667.55 per troy ounce.  Other precious metals also were flat, with silver and copper for December settlement losing 0.01 per cent and 0.35 per cent, respectively.

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