The bureau of economic analysis published yesterday its second estimate of U.S. GDP 2011 third quarter of 2011:
According to the report, the growth rate of the real U.S GDP 2011 in the third quarter of 2011 was revised down from 2.5% in the initial estimate to 2.0% growth rate in the current estimate; in the previous quarter (Q2 2011) the real U.S GDP rose by only 1.3%. The Q3 2011 growth rate is still the highest growth rate in 2011.
On the one hand, this news shows a higher growth rate than in the two previous quarters, but on the other hand the growth rate for Q3 2011 was revised down; this revision may have been among the factors to adversely affect the American stock markets yesterday and could continue to affect traders to trade down stock along with major commodities such as crude oil and gold.
Currently the American stock markets along with the major commodities prices such as crude oil prices and gold price are falling:
Nymex (WTI) crude oil price, short term future (December 2011 delivery) is declining by 2.18%, at $95.87 per barrel as of 16:11*.
Gold price, short term futures (December 2011 delivery) is traded at $1,682.00 per t oz. a $20.4 decrease or 1.20%, as of 16:07*.
Euros to USD is currently traded sharply down at 1.335 a 1.26% decrease as of 16:19*.
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