U.S. economy grows 3.1% in Q3

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Source: Bloomberg
The Commerce Department reported today that the U.S. economy expanded at a revised 3.1% annually in the Q3, more than it was estimated, after previously reported 2.7%, indicating a smaller trade gap and more consumer spending. However, economists expect the economy will shrink to a 1.4% pace in the current three-month period. The world's largest economy will struggle to keep that growth trend this quarter due to faltering global demand and as companies limit hiring and reduce spending ahead of looming ‘fiscal cliff'.   
"The economy is growing but very, very slowly," Peter McCausland, chairman and founder of Airgas Inc.

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Thu, 20 Dec 2012 15:52:06 GMT

Initial jobless claims in U.S. increase to 361,000

Following an unexpected fall to the lowest level in two months in the previous week, number of claims for U.S. unemployment benefits rose in the week ended December 15, according to the Labor Department on Thursday. Initial jobless claims increased 17,000 to 361,000, while economists expected 360,000 claims."This number gets us back into the range we've been in really since

Thu, 20 Dec 2012 14:48:16 GMT

German shares little changed on US fiscal uncertainty

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