U.S. economic growth slows to 1.6% in second quarter

 

http://www.marketwatch.com/story/us-second-quarter-growth-slows-to-16-2010-08-27?siteid=yhoof

By Steve Goldstein, MarketWatch

WASHINGTON (MarketWatch) -- U.S. economic growth slowed to 1.6% in the second quarter, the Commerce Department said Friday, two-thirds the rate that the agency had initially projected for the April-through-June period as imports surged.

The figures more broadly paint a picture of a $14.58 trillion economy led by business investment, one that data on more recent activity suggest is struggling to grow.

Gross domestic product, reflecting the inflation-adjusted, seasonally adjusted value of all goods and services produced in the U.S., slowed from the 3.7% annualized pace in the first quarter, the Commerce Department's data showed.

 

http://www.marketwatch.com/story/us-second-quarter-growth-slows-to-16-2010-08-27?siteid=yhoof