U.S. Economic Growth Revised Higher, Unemployment Falls to Nine Year Low and Oil Spikes
December 3, 2016    Disclosures    POSTED IN  InvestmentsEconomyMarkets

Last month the U.S. economy added 178,000 new jobs, in line with expectations. The unemployment rate fell to 4.8%, the lowest since August 2007.

The estimate for U.S. growth in the third quarter was raised to 3.2%. After tax corporate profits increased by 5.2%, the first move higher since the end of 2014.

Oil moved higher as the Organization of the Petroleum Exporting Countries agreed to cut production by 1.2 million barrels a day and 600,000 barrels by non-OPEC members.

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