Economics
U.S. Economy Grew Less-Than-Forecast 1.2% in Second Quarter
- Analysts surveyed by Bloomberg forecast 2.5% expansion
- Report raises risk to outlook as Fed looks for improvements
U.S. Economy Expands Less Than Forecast
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The U.S. economy expanded less than forecast in the second quarter after a weaker start to the year than previously estimated as companies slimmed down inventories and remained wary of investing amid shaky global demand.
Gross domestic product rose at a 1.2 percent annualized rate after a 0.8 percent advance the prior quarter, Commerce Department figures showed Friday in Washington. The median forecast of economists surveyed by Bloomberg called for a 2.5 percent second-quarter increase.