US Economic Growth Slows

Posted April 27th, 2012 at 9:40 am (UTC-5)
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U.S. economic growth slowed down in the first three months of this year, falling to an annual rate of 2.2 percent.

Friday's report from the Commerce Department says growth was cut seven-tenths of a percentage point as governments cut spending, and imports exceeded exports.

These negatives outweighed consumer spending increases and some improvements in the battered housing sector.

Economists say the first quarter's 2.2 percent growth is not fast enough to cut the U.S. unemployment rate, which stands at 8.2 percent.

Worries about jobs and the economy are a key issue in this year's presidential campaign.