US Q2 GDP growth slows
Reuters, Washington
A cooling housing market helped slow US economic growth more steeply than expected in the second quarter, the government reported on Thursday, while corporate profits grew feebly.Analysts said a slowdown in the pace of expansion could extend into 2007 and Federal Reserve policy-makers caution they expect economic growth in the second half to drop below long-term trend rates. Gross domestic product or GDP that gauges total economic activity within U.S. borders advanced at a revised 2.6 percent annual rate in the second quarter, down from the 2.9 percent estimated a month ago.
|
|
