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U.S. Economic Growth Slows to 2%

Growth in U.S. real gross domestic product slowed to a downwardly revised 2.0% in the second quarter of 2019 from an annualized 3.1% in January-March, according to the Bureau of Economic Analysis.

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Growth in U.S. real gross domestic product slowed to a downwardly revised 2.0% in the second quarter of 2019 from an annualized 3.1% in January-March, according to the Bureau of Economic Analysis.

BEA’s initial second-quarter estimate was 2.1%. The bureau says more complete data revealed stronger consumer spending but weaker exports, private inventory investment, residential investment and spending by state and local governments.

In terms of current dollars, GDP climbed 4.6% in the second quarter from 3.9% in the first period, according to BEA. The bureau will issue final figures for second-quarter performance in late September.

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