U.S. Economy Slowed Sharply In First Half Of 2011
The economy expanded at meager rate of 1.3 percent annual rate in the spring after scarcely growing at all in the first three months of the year, the Commerce Department said Friday.
The combined growth for the first six months of the year was the weakest since the recession ended. The government revised the January-March figures to show just 0.4 percent growth down sharply from its previous estimate of 1.9 percent.
High gas prices and scant income gains have forced consumers to pull back sharply on spending in the spring.
Source: http://www.npr.org/2011/07/29/138814283/economy-slowed-sharply-during-first-half-of-2011?ft=1&f=1003
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