Economy Grows at Healthy 2.5% Rate; Below Early Figure
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WASHINGTON — The U.S. economy grew at a healthy annual rate of 2.5% from April through June, slightly slower than previously believed, the government said today.
In its final look at overall economic activity in the spring, the Commerce Department said growth in the gross national product was 0.2 of a percentage point lower than it had estimated a month ago.
The small downward revision did nothing to change the view that the economy was performing remarkably well during the spring, bolstered by a rebound in consumer spending, strong business investment and continued double-digit growth in U.S. exports.
Many economists believe that growth will slow during the second half of the year. However, the momentum provided by the second quarter has erased fears that the country is in danger of slipping into a recession.
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