Forecast weakens for U.S. economy as GDP growth slows in Q2

08/28/2011 | Financial Advisor online

The U.S. gross domestic product expanded just 1% during the second quarter, less than the previous estimate of 1.3%, according to data from the Commerce Department. During the first half of 2011, the economy has expanded at its slowest rate in roughly two years. Meanwhile, a drop in consumer confidence and consumer spending could bring new problems for the ailing economy, analysts say.

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