The New York Times
Fri, July 30, 2010 -- 8:39 AM ET
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U.S. Economic Growth Slowed to 2.4% Rate in 2nd Quarter
The United States economy expanded at a 2.4 percent
annualized rate in the second quarter of this year, slowing
significantly from the revised 3.7 percent rate of the
previous few months, the Commerce Department reported on
Friday.
Gross domestic product, a broad measure of the total value of
goods and services produced in the economy, has been
expanding for the last year, leading many economists to
believe the recession that began in December 2007 is
technically over.
But G.D.P. growth in the last quarter of 2009 was much more
robust than it has been this year, which, coupled with
disappointing job creation, has led to worries that the
recovery is losing steam. Many economists expect growth rates
under 2 percent for the remainder of the year.
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