Business StandardCenter·
US economy growth sluggish at 1.5% in Q2, consumer spending rises 3.4%
The US economy grew at a sluggish 1.5 per cent pace from April through June. But consumer spending stayed strong. The Commerce Department reported Wednesday that growth in gross domestic product - the nation's output of a goods and services - decelerated from a 2.1 per cent pace from January through March. The second-quarter growth number was unchanged from the department's first estimate. Still, consumer spending - which accounts for about 70 per cent of US economic activity - increased at a h…
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