US GDP (cn)

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US GDP

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Last Friday the US Department of Commerce published a report saying that the GDP rose by 2.2% on a quarterly basis from January to March.

The reading fell short of the forecast implying an increase in the GDP by 2.5%. On a yearly basis, in the first quarter 2012 the US GDP grew by 3%.

Meanwhile, the indicator for personal consumption spendings which constitutes about 70% of the US GDP, increased from 2.1%

to 2.9% during the reporting period. The indicator had been estimated to swell by 2.3%, however.

A weaker-than-expected increase in the GDP is said to be caused by reduced government spending, scarce investment in companies and production, as well as by a slower growth of inventories.

In the 4th quarter of 2011, the US GDP advanced by 3%. This was the highest GDP reading for more than a year. All in all, in 2011 the economy of the USA expanded by 1.7%.

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Considering St. Petersburg's business status, InstaForex holds its annual conferences for its partners, traders, and potential clients here. The new event took place in one of the most prestigious hotels of St. Petersburg Marriott Renaissance. Traditionally, the conference focused on the most relevant topics of currency trading and opportunities provided by investments in the forex market.

Sergey Kovalenko, trader at InstaForex, speaks about $1,000,000 he earned and his future plans (ShowFx World Exhibition in Kiev)

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