Cautious consumers, foreign trade curb second quarter growth
WASHINGTON (Reuters) – U. S. economic growth slowed in the second quarter as consumers spent at their slowest pace in a year, increasing pressure on the Federal Reserve to do more to bolster the recovery. Gross domestic product expanded at a 1. 5 percent annual rate between April and June, the weakest pace of growth since the third quarter of 2011, the Commerce Department said on Friday. First-quarter growth was revised up by a tenth of a percent to a 2. 0 percent pace. Details of the report were weak, with foreign trade being a drag and stocks of unsold goods rising. . . .
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