Economy grows weakly for a third straight quarter

July 29, 2016 1:01 PM

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The US economy grew meekly for a third straight quarter, raising new concerns about the risk of recession, as the drag from falling business investment more than offset strong consumer spending.

The nation’s gross domestic product -- the value of goods and services produced in the nation -- increased at a seasonally adjusted annual rate of 1.2%, the Commerce Department said Friday. Economists surveyed by Bloomberg had forecast growth of 2.6%. Also, growth was revised down to 0.9% from 1.4% ...

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