Markets optimistic despite US GDP figures

Markets optimistic despite US GDP figures

Yesterday’s final estimate of the US GDP figures for the first quarter of the year has done little to dent optimistic trading so far. The figures, showing a contraction of the economy of 2.9 per cent, the highest level since 2009, caused some ripples; European stocks retreated for a while following the news but then recovered; but the numbers have also seen some analysts showing increased optimism in the second quarter. With predictions that upcoming data will continue to indicate growth, and the continuance of easier monetary policy by the Fed, investors are banking on sunnier times ahead. Read the full story.