In the US revised GDP numbers showed the economy advanced at a higher rate than initially thought with an upwards revision accounted for a smaller drag from inventories and stronger exports. US GDP rose at a 1.4pc annual pace in the second quarter.
Also, consumer spending expanded at a solid 4.3pc quarter on quarter (annualised) rate, down from 4.4pc estimated previously.
But in Europe there is concern about the financial health of Deutsche Bank, one of the region’s largest banks. There is talk that it may have to ask the German government to bail it out. But despite the concerns over Brexit, the UK economy is still growing. Second quarter growth was 0.7pc, which was higher than the previous estimate of 0.6pc although …
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Source: Metal Pages
WEEK IN REVIEW: US growth upwards, Deutsche worries
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