Update shows U.S. economy grew 1.7% in 2Q

Trade & Trends

Wednesday, August 29, 2012

The U.S. economy grew at an annual rate of 1.7 percent in the second quarter, according to a revised estimate released Wednesday by the U.S. Commerce Department. A preliminary estimate last month showed gross domestic product increased 1.5 percent from the first quarter. The decrease in productivity from the 2 percent rate in the first quarter was attributed to decelerating consumer spending and real estate investment. Those trends were partially offset by increas...

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