Investors "jumpy" over US economic data

Weaker-than-expected GDP figures from the US saw many share investors rush to cash in their profits today (November 24th), according to City Index.

Publishing new economic data, the US Commerce Department revised its estimate of annual growth in the nation’s GDP between July and September down from 3.5 per cent to 2.5 per cent.

Commenting on how the announcement had impacted on investor confidence, City Index market strategist Joshua Raymond said: ’Investors were always likely to be a bit jumpy and this is exactly what we have seen.

’As soon as the US GDP figures came out weaker than consensus, investors quickly moved to cash in their profits.’

However, he also noted that some investors returned to the markets after separate figures showed that US consumer confidence has enjoyed a slight increase this month.

According to the latest report from the Conference Board, the Consumer Confidence Index rose to 49.5 from a revised reading of 48.7 in October.
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