22nd December 2011
The Dow Jones Industrial Average (DJIA) has risen slightly today (December 22nd) following the announcement of results from the US.
Positive figures published by the US Bureau of Economic Analysis earlier today revealed gross domestic product was up by 1.8 per cent during the third quarter, coming after a surprising announcement that the number of people who filed for unemployment assistance last week has dropped to 364,000 - the lowest level since April 2008.
As a result, the DJIA gained 0.32 per cent in afternoon trading so far, while the S&P 500 was up by 0.53 per cent. The Nasdaq Composite Index also showed healthy growth, rising by 0.51 per cent, Forex Pros reports.
The news provider noted the positive GDP announcement corresponded with a downward revision for personal consumption in the US, which grew by 1.8 per cent rather than the forecast 2.3 per cent.
Earlier this month, the US futures market also posted positive results as markets reacted positively ahead of the EU summit.
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