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It Worked: US GDP Drops to 1.5 Percent Growth in Second Quarter of 2012

Stagnant, at best…

US economic growth slows to 1.5 percent annual rate from April-June, consumer spending weakens.

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. Dow Jones consensus estimates forecast growth at a 1.3 percent pace. First-quarter growth was revised up to a 2.0 percent pace from the previously reported 1.9 percent. Output for the fourth quarter was raised to a 4.1 percent rate from 3.0 percent.

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