Current Affairs Global - 26 November 2014

1. The US economy growth was revised upward for the third quarter (July-September) of the current year. US economy grew at an annualised rate of 3.9% in the same quarter compared to earlier estimation of 3.5%. US economy grew at 4.6% in the second quarter. With this, US economy has seen its strongest growth for two consecutive quarters in last one decade.

Consumer spending, which accounts for 70% of US economic activity, grew by 2.2% in the third quarter. This confirms increased optimism about the world-s largest economy and improved job market.

2. China has been ranked at No1 position in terms of FII investment among Asian economies in November till 24th November, as per a report published by HSBC. Asian economies has seen total USD 5.3 billion FII investment in equity market in which China has attracted YSD 2.3 billion to secure No1 place.

Indian secured second place with USD 1.4 billion FII investment in equity market followed by Thailand at third spot.

3. US swimming star and winner of most number of Olympic medals (total 22), Michael Phelps has been named as the Male Athlete of the Year at the 2014 USA Swimming Golden Goggle Awards held on 24th November. He was awarded with the same award for the fifth time, earlier he won the same award in 2004, 2007, 2008 and 2012.