U.S. Economy Grew at 2.1% Rate in 2nd Quarter, G.D.P. Report Says

Economic growth slowed last spring, but don’t panic: The decade-long expansion has lost some momentum, but there’s little reason to think it is about to stall out.

Gross domestic product, the broadest measure of goods and services produced in the economy, rose at a 2.1 percent annual rate in the second quarter, according to preliminary data released by the Commerce Department on Friday. That represents a significant deceleration from the 3.1 percent growth rate in the first quarter.

But the big swings in the quarterly data are almost certainly exaggerated....