Scoreboard: Growth spurt

Wall Street rebounded on the back of upwardly-revised GDP data, while European banks were spurred on by ECB stimulus expectations.

In US economic data, the final reading on US June quarter GDP was revised up from 4.2 per cent to 4.6 per cent. The result was in line with expectations. The major contributors were a lift in business investment and stronger exports (up 11.1 per cent in June quarter and the biggest gain since 2010). Inflation as measured by the PCE index was unchanged at a 2.3 per cent annual rate. The final University of Michigan Consumer Confidence reading for September held steady at 84.6 and was well ahead of the August result of 82.5.


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