Australian Market Report of August 28: US Economy Shrank at A Slower Pace

  Sydney, Australia, Aug 28, 2009 - (ABN Newswire) - Wall Street closed with an eighth consecutive gain on Thursday, as a series of financial firms rose and energy stocks rallied on the rebound of crude oil prices. The US government figure for GDP showed that the US economy shrank at a 1 per cent annual pace in the second quarter, better than analysts' forecast of 1.5 per cent decline.  

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