Arab Today, arab today us economy grew only 13 in q2
Last Updated : GMT 21:34:07
Arab Today, arab today
Arab Today, arab today

US economy grew only 1.3% in Q2

Arab Today, arab today

Arab Today, arab today US economy grew only 1.3% in Q2

Washington - AFP

The US economy grew 1.3 percent in the second quarter of the year, far weaker than previously believed, Commerce Department data released Thursday showed. The Commerce Department\'s third estimate of gross domestic product growth for the April-June period was well below expectations that the annual growth rate would hold unchanged at the prior estimate of 1.7 percent. The latest estimate compared with an initial GDP estimate of 1.5 percent growth, following a 2.0 percent annual rate in the first quarter. The second-quarter GDP number marked the slowest growth since the first quarter of 2011. \"The slowing came primarily from a decline in durable goods consumption and fixed investment,\" said Scott Hoyt at Moody\'s Analytics, calling the GDP report \"disappointing.\"

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