Scoreboard: US growth spurt

Wall Street rose on strong corporate earnings and positive GDP data, while European markets edged up and oil prices slid.

In the US, GDP rose at a 3.5 per cent annual pace in the September quarter (consensus 3 per cent). A narrower trade deficit and a surge in defence spending were the main drivers of the upbeat result. Consumer spending was also a healthy contributor, while inventories was one of the few drags on the strong result. US jobless claims rose by 3,000 to 287,000 in the last week.


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