US economic growth slows to 1.5%
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Growth in the US economy slowed in the April to June quarter to an annualised pace of 1.5%, official figures show.
But growth in the first three months of the year was revised up to 2% from a previous estimate of 1.9%, the Commerce Department said.
Previous years' data was also revised to show the economy shrank 4.7% from the start of the recession in December 2007 until it ended three years ago.
It had earlier been thought the economy contracted by 5.1% over that period.
Last month, the US Federal Reserve cut its forecast for economic growth in 2012 to 2.4% from 2.9%.
The 1.5% annual pace in the second quarter is equivalent to 0.4% quarter-on-quarter growth.
Peter Cardillo, chief market economist at Rockwell Global Capital, said the number was "a bit better-than-expected, but still the consumption is weak".
"If the economic data next week continues [to be weak], then probably the market can keep their hopes up that [the] Fed would eventually resort to more stimulus."