The economy grew a feeble 1.1% in second quarter

August 26, 2016 12:38 PM

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The economy grew a bit more slowly than believed in the second quarter amid a wider trade gap and weaker housing construction, leaving its third straight disappointing performance looking even more feeble.

The nation’s gross domestic product increased at a seasonally adjusted annual rate of 1.1%, the Commerce Department said Friday, slightly below its previous 1.2% estimate. That matches the expectations of economists surveyed by Bloomberg. The economy has averaged about 1% growth the past three quart...

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