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US economy grew slower than estimated in 1Q

Wednesday, 26 June 2013

The U.S Economy grew at a revised 1.8 percent in the first quarter, a number that was down from an estimated 2.4 percent, according to a release Wednesday from the U.S. Commerce Department. Bloomberg reported that revision came on the back of a lower number coming in for household purchases, which showed a cutback in travel and other services. Consumer spending makes up about 70 percent of the U.S. economy.
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