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And the US economy grew at a slower pace than previously1 estimated in the three months to the end of September. Revised figures from the US Commerce Department show that gross domestic product grew by two per cent.
Now that's half of one per cent lower than previously forecast. Meanwhile, President Obama is putting pressure on Congress to vote in favour of keeping payroll2 tax cuts.
“If they vote no again, a typical family's taxes will go up $1000 next year. If they vote yes, the typical working family will get a $1,500 tax cut. And I just want it to be clear for everybody: ‘No’--your taxes go up; ‘Yes’--you get a tax cut. Which way do you think Congress should vote? (YES!) Pretty simple.”
Barack Obama there
Let's look at what the markets have been doing overnight. In the US, the Wall Street exchange has just closed. The Dow finished 56 points lower. The NASDAQ lost three points. The S&P 500 shed nearly three points as well. And in London the FTSE dropped 15 points.
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1 previously | |
adv.以前,先前(地) | |
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2 payroll | |
n.工资表,在职人员名单,工薪总额 | |
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3 sterling | |
adj.英币的(纯粹的,货真价实的);n.英国货币(英镑) | |
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