U.S. Growth Slows in 2nd Quarter
U.S. economic growth pulled back further during the second quarter of the year as consumer spending slowed. According to the Department of Commerce, the nation’s gross domestic product–the value of all goods and services produced–grew at an annual rate of 1.5% between April and June. The reading is down from the upwardly revised 2.0% growth rate during the prior three months and a 4.1% rate in the fourth quarter of 2011.
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