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LATEST US DATA

GDP grows 1.2% in Q2 as inventories fall

Surge in consumer spending points to underlying strength
Saturday, July 30, 2016 - 05:50

Washington

THE US economy grew far less than expected in the second quarter as inventories fell for the first time since 2011, but a surge in consumer spending pointed to underlying strength.

Gross domestic product (GDP) increased at a 1.2 per cent annual rate after rising by a

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