Gdp, Government Report | featured news

The United States government said the gross domestic product grew at an annual rate of 1.3 percent in the spring, down from its previous estimate of 1.7 percent growth.

The economy grew at an annual rate of 2.5% in the three months ending Sept. 30, the government reported, easing fears that the nation would fall into a second recession but still too slow a pace to cut significantly into the high unemployment rate.

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.