Published On: Mon, Aug 1st, 2016

U.S. second quarter GDP increases at sluggish 1.2% annual rate

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The U.S. economy grew at a tepid 1.2% annual rate in the second quarter, held down by a large decline in business investment, the Commerce Department said Friday.

The second quarter gain was well below the 2.6% rate economists surveyed by MarketWatch had forecast. Adding to the sense of weakness, first quarter growth was also revised down to a 0.8% annual rate from the prior estimate of a 1.1% gain.

Lackluster growth could derail the Federal Reserve’s intentions to raise interest rates at a gradual pace. The weaker than expected growth could also make the economy a bigger issue in the presidential election campaign.

Source: Bloomberg


PT Bestprofit Futures – ECONOMY
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