US economy in Q3 expanded slower than reported

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Source: Forexpros

The US economy expanded slower than initially reported in Q3, raising fears over the speed of the US recovery. The GDP of the US in Q3 grew by 1.8 on an annual basis as compared to previous estimation of 2.0%. Expects predicted no changes in the GDP growth after the second estimation. The USD was not affected by the data release and continued to see gains over the Euro with the pair EUR/USD traded at 1.3038, edging down 0.07%.

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Thu, 22 Dec 2011 17:56:44 GMT

Current account deficit in the UK hits the record

The current account of the UK in Q3 unexpectedly widened, reaching the record-high since 1955. The deficit widened to GBP15.2 billion in Q3 on a seasonally adjusted basis as compared to GBP7.4 billion in Q2, reported U.K.'s National Statistics Office. Analysts predicted the figure to narrow to GBP5.5 billion in Q3.

Thu, 22 Dec 2011 17:53:17 GMT

Copper at 429,000 tonnes deficit

Copper saw a large deficit of 429,000 tonnes during the first nine months of 2011 while apparent deficit was only 170,000 tonnes, reported International Copper Study Group. The metal's output in Chile, the US and Peru dropped by 3.5% in the period. Experts explain the fall citing strikes on the copper mines in Peru and Chile. LME copper price stayed weak being 20% lower

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