Economy grew at 1.7 percent rate in 2nd quarter
WASHINGTON – The U.S. economy grew at a 1.7 percent annual rate in the April-June quarter, boosted by slightly stronger consumer spending and greater exports.
The Commerce Department said Wednesday that growth was marginally better than its initial estimate of 1.5 percent.
Economists expect some improvement in growth in the second half of the year after seeing more positive data in July. But most believe the economy will keep growing at a subpar rate of around 2 percent.
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