GDP Report Shows Muted Growth
The economy grew 1.1% in the second quarter, much less than analysts expected.
The economy grew 1.1% in the second quarter, much less than analysts expected.
The nation's economy grew less than economists expected in the second quarter, according to the latest
gross domestic product report from the Commerce Department.
The government said GDP rose 1.1% in the quarter, well below analysts' expectations of 2.3% growth. The report is the first of three that will be released detailing economic growth in the second quarter of the year.
In addition to the second-quarter report, the first-quarter GDP number was revised down to a 5% increase from 6.1% growth previously.
Final sales in the second quarter fell 0.1% after seeing a gain of 2.4% in the first quarter.
