November 29, 2023
United States:
US Economy Grew 5.2% in Third Quarter, More Than First Estimated
The US economy grew at an even faster pace in the third quarter than originally estimated, reflecting upward revisions to business investment and government spending.
Gross domestic product rose at an upwardly revised 5.2% annualized pace in the third quarter, the fastest in nearly two years. Consumer spending advanced at a less-robust 3.6% rate, according to the government’s second estimate of the figures issued Wednesday.
Europe:
German Inflation Sinks More Than Expected as Energy Retreats
German inflation eased more than forecast in November on retreating energy and travel costs, putting the European Central Bank’s 2% target within reach.
Consumer prices rose 2.3% from a year ago — down from 3% in October and less than the 2.5% estimated by economists in a Bloomberg survey. They fell 0.7% on the month, with package tours alone responsible for 0.15 percentage point of the decline.
Asia:
India Probes Criminal-Terrorist Nexus to Protect Ties With US
New Delhi is probing any role of Indian organized criminal groups in an alleged attempt to assassinate a US-based Sikh separatist leader, as the South Asian nation tries to protect its relationship with the US after being prompted by Washington.
India has constituted a high-level committee to investigate inputs shared by the US over a nexus between organized criminals, gun runners, and terrorists, said Arindam Bagchi, spokesperson for India’s External Affairs Ministry. The South Asian country takes such inputs “seriously” and relevant departments are already examining the issue, he said.
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