US economic growth beats expectations
Economic growth in the US has beaten the expectations of analysts.
The latest data for the US economy has been released today (December 5th) and growth was in excess of the expectations of analysts.
Data revealed that the US economy expanded by 3.6 per cent during the third quarter of the year, which was up from the initial estimate of 2.8 per cent.
In the previous three-month period, the US economy's growth rate was 2.5 per cent, which indicates the pace of recovery in the US is speeding up.
The announcement from the Commerce Department revealed that a large rise in businesses restocking their inventories was among the factors involved in the unexpected jump.
It also stated that the annualised growth figure was therefore equivalent to a quarter-on-quarter increase of 0.9 per cent, which was up from 0.7 per cent in the previous estimates.
US jobs data is set to be released tomorrow and these are likely to have a big impact on major global markets around the world.
The Nikkei has slipped badly in the last two days as investors grow cautious over the figures.
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