Growth Pace Is Revised Downward for Quarter
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The pace of economic growth softened more sharply than expected in the second quarter and corporate profits rose feebly.
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The U.S. economy grew at a  weaker-than-expected 3.1 percent annual pace in the final  quarter last year, its slowest since the beginning of 2003 as  the country's trade performance deteriorated and inflation  picked up, a government report on Friday showed.
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This has been another month of growth for manufacturing and the economy in general, although the latest monthly report on business from the Institute for Supply Management (ISM) indicates that the rate of manufacturing growth is slowing down.
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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 a closely watched inflation gauge unexpectedly accelerated, data showed showed on Thursday.
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U.S. economic growth slowed abruptly  during the second quarter to less than half the pace seen at  the beginning of the year, while a key gauge of inflation  accelerated, the Commerce Department said on Friday.
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The Q3 report shows declining numbers, but there's more to the story.
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The U.S. economy grew at a  weaker-than-expected 3.1 percent annual pace in the final  quarter of 2004, its slowest since the beginning of 2003 as the  country's trade performance deteriorated and inflation picked  up, a government report on Friday showed.
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A slowdown in U.S. economic growth  during the second quarter of the year was not as sharp as  previously thought, the Commerce Department reported on  Wednesday, partly because businesses built up inventories at  the strongest rate in four years.
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TOKYO  - Japan's economy barely grew during the quarter ending Sept. 30 and in the April-June period it actually shrank instead of squeezing out slight growth, according to revised government data released Wednesday.
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The economy could be headed for slower growth in the next several months, according to a report released Thursday by a private research group.
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Japan revised its economic growth numbers for the April-June quarter downward Friday, but analysts shrugged off the report and said recovery was on solid footing for the world's second largest economy.
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UK economic growth is unexpectedly revised down to 0.7% in the three months to June, official figures show.
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The U.S. economy grew more slowly in  the second quarter than first thought amid shrinking corporate  profits and higher imports, the government said on Friday in a  report that confirmed momentum faltered in the spring.
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The economy inched ahead by 2.2 percent in the fourth quarter of last year, down sharply from the governmentâs prior estimate of 3.5 percent.
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Business productivity growth was  revised down sharply in the fourth quarter to an annualized 1.6  percent pace, government data on Tuesday showed, suggesting  inflation pressures as labor costs soared.
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US economic growth drops to a weaker-than-expected annual rate of 0.6% in the final quarter of 2007.
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U.S. business productivity grew more  slowly in the third-quarter than first thought, a government  report showed on Tuesday, with other economic indicators also  painting a mixed picture for growth.