International News June 3rd 2013

• The Commerce Department reported that Gross Domestic Product in the U.S. increased at an annual rate of 2.4% in the first three months of 2013, revised down from the previously reported growth of 2.5%. Despite the downward revision, the U.S. economic growth still reflects a marked improvement over the 0.4% growth witnessed in 4QFY12
• The Ministry of Land, Infrastructure, Transport and Tourism reported that Japan's housing starts grew at a pace of 5.8% Y-o-Y in April, slower than the 7.3% rise witnessed in March.