US GDP expanded by 2.8% in Q4

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Source: Marketwatch
US GDP expanded by 2.8% in Q4 of 2011 on the increase in business inventories and consumer spending. However, experts projected the US economy to expand by 3%. Consumer spending surged 2% in Q4 from 1.7% in Q3 while business inventories increased to USD 56 billion following USD 2 billion fall in Q3. Exports jumped by 4.7% while imports soared by 4.4% in the period. Inflation estimated by PCE index added 0.7% after hitting 2.3% surge in the preceding quarter.



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Fri, 27 Jan 2012 15:10:08 GMT

S&P 500 drops on housing data

US S&P 500 Index fell on Thursday, weighted down by an unexpected drop in new home sales. US benchmark declined 0.57% or 7.62 points and closed at 1,318.43 with nine out of ten industries posting losses as home sales decelerated 2.2% in December. Main losers were energy and telecommunication shares with E Trade Financial dropping 14.6% and Range resources giving

Fri, 27 Jan 2012 16:57:14 GMT

Expansion of European loans slowed down by crisis

The growth of the European loans owed by businesses and households decreased in December amid worsening economic outlook in the region and credit tightening measures of banks. Private sector loans showed a 1% increase on an annual rate, reported the ECB. Moreover, the pace of growth in M3 money supply tumbled to 1.6% from 2%.

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