U.S. Economy Grew a Less-Than-Forecast 1.2% in Second Quarter

July 29, 2016 12:30 PM

10 0

The U.S. economy expanded less than forecast in the second quarter after a weaker start to the year than previously estimated as companies slimmed down inventories and remained wary of investing amid shaky global demand.

Gross domestic product rose at a 1.2 percent annualized rate after a 0.8 percent advance the prior quarter, Commerce Department figures showed Friday in Washington. The median forecast of economists surveyed by Bloomberg called for a 2.5 percent second-quarter increase.

Also read: Eurowings settles pay dispute with airline cabin crew

Read more

To category page

Loading...