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Top News

US third quarter growth cut sharply to 2.0pc

Published Updated

us-flagWASHINGTON: US economic growth in the third quarter was only 2.0 percent, sharply lower than the initial estimate of 2.5 percent, the Commerce Department said Tuesday.

The second estimate of GDP growth, based on more complete data, was lower on a decline in private inventory investment, slower state and local government spending and higher imports, the department said.

Copyright AFP (Agence France-Presse), 2011

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