WINDERMERE, Fla. (Stockpickr) -- U.S. stocks are trending slightly lower today after official government data showed that the U.S. economy grew more slowly than originally expected in the third quarter. That slower growth was mostly due to corporations drawing down their inventories faster than expected.
Gross domestic product was revised lower to an annual rate of 2% in the third quarter from a previous estimate of 2.5%, according to the commerce department. Although this number is below most economists' estimates, it's still better than the second quarter's anemic growth of just 1.3%.
At last check, the Dow Jones Industrial Average was trading down 40 points and the S&P 500 was off by 3 points. The tech-heavy Nasdaq was sliding lower by 6 points.
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