Economy Grows at a 2.6 Percent Pace
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WASHINGTON -- Economic growth clocked in at a 2.6 percent pace in the spring, a weaker performance than previously estimated and a fresh sign the economy has shifted into a lower gear.
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The countryâs gross domestic product (GDP) rose 6.2 percent in the second quarter of the year, while gross national product (GNP) went up by 5.7 percent despite the rising world oil prices.
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Healthy business investment helped the U.S. economy grow at a revised 3.8 percent annual rate in the second quarter, slightly less than previously thought because of brisker demand for foreign goods and services, the Commerce Department said on Thursday.
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The U.S. economy grew faster in the  second quarter than previously thought as business inventories  rose at the strongest rate in four years, the government said  on Wednesday, a sign the soft patch was not as soft as feared.
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The Philippine economy registered a6.2 percent growth in the second quarter, higher than the 4.2 percent during the same period last year, National Statistical Coordinating Board
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The U.S. economy expanded by a weak 0.6 percent in the latest indication of a substantial economic slowdown.
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The economy picked up a little more speed during the summer quarter from July through September, expanding at a 3.7 percent annual rate, the government reported yesterday.
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The U.S. economy grew at an annual  rate of 4 percent in the second quarter, as strong business  investment led the fastest pace of expansion since early last  year, the government reported on Thursday.
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The latest snapshot shows an economy that has returned to a moderate economic expansion of about 3 percent. At this pace, the economy is not growing fast enough to create large numbers of jobs
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Healthy business investment helped  the U.S. economy grow at a revised 3.8 percent annual rate in  the second quarter, slightly less than previously thought  because of brisker demand for foreign goods and services, the  Commerce Department said on Thursday.
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The economy grew at a 0.7 percent annual pace in the first three months of this year, the weakest in more than four years but slightly better than previously estimated, data showed  on Thursday.
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The countryâs gross domestic product (GDP), which serves as the main barometer of the economy, expanded by 6.5 percent in the first three quarters of 2004, capped by a 6.3-percent
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GDP rose by only 0.6 percent last quarter, the slowest rate in one year.
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The British economy will pursue growth of 2.5-2.75 percent until the end of 2008, according to the OECD.
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The US economy grew at a pace of 0.6% in the first quarter of 2007, its weakest rate in more than four years.
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The U.S. economy grew at a stronger pace than expected in the final quarter of 2006 without raising inflation pressures, government data showed on Wednesday, as robust consumer spending more than offset the biggest slump in housing in 15 years.
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The U.S. economy shot forward at an  upwardly revised 5.3 percent annual rate in the first quarter,  the fastest growth in 2-1/2 years, as companies built up  inventories and exports strengthened, a Commerce Department  report on Thursday showed.