U.S. Economic Growth Slows In Q2 But Still Exceeds Estimates


31/07/2012 15:12 AST  RTT News

U.S. economic growth slowed in the second quarter of 2012, although the pace of growth during the quarter still exceeded economist estimates.

According to figures released by the Commerce Department on Friday, U.S. gross domestic product increased at an annual rate of 1.5 percent in the second quarter.

While that marks a slowdown from the 2 percent growth posted for the first quarter, economists had forecast the pace of GDP growth to slow to 1.2 percent.

Additionally, the growth seen in the first quarter was upwardly revised from the 1.9 percent growth previously reported.

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