US Economic Growth Slows

Posted July 27th, 2011 at 3:40 pm (UTC-5)
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Two reports Wednesday show U.S. economic growth slowing down.

The U.S. central bank gathered information from business across the nation and found that growth moderated in eight of the Federal Reserve's 12 districts in June and early July.

A separate report from the Commerce Department says new orders to U.S. manufacturers for aircraft, autos, heavy machinery and other goods declined in June.

The data show orders for manufactured goods intended to last at least three years were down by a sharp 2.1 percent. The decline in “durable goods” was largely due to a sharp drop in orders for commercial aircraft.

Manufacturing had been one of the few bright spots in the slow U.S. recovery from the economic crisis.