U.S. economy slows in second quarter; consumer spending robust
Posted on AllSides August 29th, 2019
From The Center
WASHINGTON (Reuters) - The U.S. economy slowed in the second quarter, but the strongest growth in consumer spending in 4-1/2 years amid a strong labor market could further temper financial market expectations of a recession.
Gross domestic product increased at a 2.0% annualized rate, the Commerce Department said in its second reading of second-quarter GDP on Thursday. That was a downward revision from the 2.1% pace estimated last month.
The economy grew at a 3.1% rate in the January-March quarter. It expanded 2.6% in the first half of the year....
