Economy loses speed in spring; more weakness ahead

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Economy loses speed in spring; more weakness ahead

By JEANNINE AVERSA, AP Economics Writer Jeannine Aversa, Ap Economics Writer – 1 hr 50 mins ago
WASHINGTON – The nation's economic growth tailed off sharply in the spring and probably isn't faring any better now.

Gross domestic product — the broadest measure of the economy's health — expanded at a feeble 1.7 percent annual rate in the April-June quarter, The Commerce Department reported Thursday.

That's a notch higher than the 1.6 percent growth rate the government estimated a month ago. The slight change was mostly due to a little more spending by consumers than first estimated. Still, that's not enough to have a major impact on the economy.

The second quarter estimate is a sharp slowdown from a 3.7 percent growth rate logged in the first quarter.


http://news.yahoo.com/s/ap/us_gdp

[OregonBlue]

1. Why even bother to post anything from AP or Yahoo News. They are both right-wing shills.

[defendandprotect]

2. Right -- the economy is in an upsurge -- and we've recovered the jobs we've lost -- !!!