European markets are up early Tuesday, after final UK GDP figures showed that country’s economy is growing at a slightly slower rate than expected.
Here’s the scorecard:
France’s CAC 40 is up 0.48%
Germany’s DAX is flat.
Britain’s FTSE 100 is up 0.26%
Spain’s IBEX is down 0.12%
Italy’s FTSE MIB is up 0.48%
Asian markets closed down slightly. Japanese markets are shut for the the Emperor’s birthday holiday. Hong Kong’s Hang Seng closed down 0.32%.
US futures are up slightly. The Dow is up 19 points, the S&P 500 is up 1.3 points, and NASDAQ is up 2 points.
Figures from the Office for National Statistics (ONS) released on Tuesday show that UK gross domestic product (GDP) grew by 0.7% in the three months to September compared with the previous quarter from April to June. GDP in the third quarter of 2014 grew by 2.6% year-on-year, revised down from the original estimate of 3%. The ONS also reported that the UK’s current account deficit, which is a measure of trade between the UK and the rest of the world in goods, services, and investments, soared to £27 billion in the third quarter.
Meanwhile, it’s going to be a busy day for US economic data. Stay tuned for fresh data on durable good orders, GDP, income, spending, and consumer confidence.
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