gasoline prices John Ryding
Economy continues to show lackluster recoveryPosted by RJ and Makay on Jul 29, 2011 |
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The U.S. economy has expanded at a slower rate than expected this Spring as consumers reduced spending, and revisions show that the slowdown since the beginning of the year was more drastic than previously thought, according to a Commerce Department report released today. Gross domestic product (GDP) rose at an annualized seasonally adjusted rate of 1.3% from April to June, and first-quarter growth was revised downward to 0.4% from an earlier 1.9% estimated gain. Economists had expected second-quarter GDP to rise 1.8%.
