Home Wealth  Money GDP Revised Lower than Expected

GDP Revised Lower than Expected

Posted: Jul. 24th, 2012  |  By Forbes

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The US economy grew more slowly in the third quarter than was initially reported.

The Commerce Department revised third quarter gross domestic product to a 2% pace in the third quarter, from an initial estimate of 2.5%.

Economists had not expected as much of a downward revision.

US stocks are trending lower following the data, with the SPDR S&P 500 trading down slightly.

The dollar is trading lower, with the US Dollar Bullish Fund trading down over .1%. The Euro Trust , meanwhile, is trading up over .1%.

Gold is trading at $1,698 an ounce Tuesday, leading the iShares Gold Trust to trade up over 1.1%, while the SPDR Gold Shares trades up about 1.2%. The Gold Miners ETF () is trading up 1.8%.

Crude oil is trading at $98.50 a barrel, leading the Energy Select Sector SPDR () to trade up slightly.

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