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Economic News, Data and Analysis

GDP up 3 percent in 2004Q2

The economy apparently is not exactly setting any growth records…

Business > U.S. Economy Grew More Slowly Than Expected in Spring” href=”http://www.nytimes.com/aponline/business/AP-Economy.html?hp”>The New York Times > Business > U.S. Economy Grew More Slowly Than Expected in Spring
U.S. Economy Grew More Slowly Than Expected in Spring
By THE ASSOCIATED PRESS
WASHINGTON (AP) — The U.S. economy grew at an annual rate of just 3 percent in the spring, a dramatic slowdown from the rapid pace of the past year, as consumer spending fell to the weakest rate since the slowdown of 2001, the government reported Friday.
The Commerce Department said that the gross domestic product, the country’s total output of goods and services, slowed sharply in the April-June quarter from a 4.5 percent growth rate in the first three months of the year.

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