Gas Prices, U.s. Economy | featured news

Consumers have caught a break from the slowing economy as gasoline prices extended their steep three-month decline, but the cost of filling the tank may soon head back up, a widely followed survey said on Sunday.

The economy grew slightly faster in the spring than previously estimated but remained dangerously weak in the face of high unemployment and higher gas prices. Many economists foresee slightly better growth in the current July-September quarter. The annual growth rate was 1.3 percent in the April-June quarter, up from an estimate of 1 percent made a month ago, the Commerce Department said Thursday. The improvement reflected modestly more consumer spending and a bigger boost from trade.