US Economic Growth Slower Than Expected

Posted July 29th, 2011 at 8:55 am (UTC-5)
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The U.S. economy grew at a slower rate than expected in the first half of this year.

Friday's report from the Commerce Department says the gross domestic product expanded at just a 1.3 percent annual rate.

The GDP is the sum of all the goods and services produced in a nation and is the broadest measure of economic health.

High gasoline prices and unemployment hampered the consumer spending that drives mose U.S. economic activity.