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U.S. GDP Growth Just 1.1 Percent in the Second Quarter

Friday, August 26, 2016 | Tag Cloud Tags: , ,

(Worthy News) - U.S. economic growth was a bit more sluggish than initially thought in the second quarter as businesses aggressively ran down stocks of unsold goods, offsetting a spurt in consumer spending.

Gross domestic product expanded at a 1.1 percent annual rate, the Commerce Department said on Friday in its second estimate of GDP. That was slightly down from the 1.2 percent rate reported last month.

The revision also reflected more imports than previously estimated as well as weak spending by state and local governments. The economy grew at a 0.8 percent pace in the first quarter. It grew 1.0 percent in the first half of 2016. [ Source ]

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Worthy Christian News » US News » U.S. GDP Growth Just 1.1 Percent in the Second Quarter

1 thought on “U.S. GDP Growth Just 1.1 Percent in the Second Quarter

  1. Yeah and since inflation was at about 6%, that means that the U.S. economy shrank by about 5%. How's that Obama hope and change worked out for you. Oh, I forgot, it's all Bush's fault.....or the Republicans' fault.....or the American people's fault.....or (let's see, who else is left?), well I don't know but it certainly can't be the illegitimate Kenyon Barry Soeter's fault now, can it?

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Worthy Christian News » US News » U.S. GDP Growth Just 1.1 Percent in the Second Quarter