Recession, Economic Growth | featured news

An acceleration in the pace of U.S. economic growth in the second half of this year is expected to ebb as 2012 gets underway, although the odds of another recession have receded to one-in-four, a Reuters poll showed on Wednesday.

Second-quarter economic growth was revised to an anemic 1.6%, a decline that was slightly less than many economists had predicted. But the report was a sobering cap to a week of bad economic news that has raised fears the nation could plunge into another recession.

The government reported that output of goods and services grew at a 3.5 percent annual rate, which was faster than expected. But it will be months before job-seekers feel the benefits.