The nation’s measure of economic growth shows a modest 2.4% gain in spring, compared to a 3.7% rise earlier in the year, more evidence the fragile recovery is losing steam, a Commerce Department report says.
By Don Lee, Los Angeles Times
July 30, 2010|6:43 a.m.
Reporting from Washington —
A new government report Friday showed that U.S. economic growth slowed sharply in the spring, providing more evidence that the fragile recovery is losing momentum and is unlikely to generate many jobs anytime soon.
The nation’s economy grew at a modest 2.4% annual rate in the April-to-June period, the Commerce Department said in its first estimate of gross domestic product for the second quarter.
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