US GDP growth revised down slightly in Q2

Washington

THE world's largest economy grew a little more slowly in the second quarter than previously thought, the government reported on Thursday, with new data showing weaker oil exports and local government spending.

GDP expanded in the April-June period by 2.0 per cent, down a notch from the initial 2.1 per cent growth estimate and well below President Donald Trump's three per cent target, according to the Commerce Department.