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U.S. economy grows at a sluggish 1.5% rate in 2nd quarter

Growth at or below 2% isn't enough to lower the unemployment rate. The U.S. economy grew at an annual rate of just 1.5 percent from April through June, as Americans cut back sharply on spending. The slowdown in growth adds to worries that the economy could be stalling three years after the recession ended.

Second-quarter growth revised down to 1 percent

The economy grew much slower than previously thought in the second quarter as business inventories and exports were less robust, a government report showed on Friday, although consumer spending was revised up.

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