Bloomberg News

U.K. Stocks Erase Losses After U.S. GDP Beats Estimates

October 26, 2012

U.K. stocks erased losses after U.S. data showed the world’s largest economy expanded more than economists forecast in the third quarter.

The FTSE 100 Index rose less than 0.1 percent to 5,807.07 at 1:41 p.m. in London. The gauge earlier declined as much as 0.9 percent.

Gross domestic product, the value of all goods and services produced in the U.S., rose at a 2 percent annual rate after climbing 1.3 percent in the prior quarter, Commerce Department figures showed today in Washington. The median forecast of 86 economists surveyed by Bloomberg called for a 1.8 percent gain.

To contact the editor responsible for this story: Sarah Jones at sjones35@bloomberg.net


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