US economic growth slows
Saturday 01 August 1998
US ECONOMIC growth slowed sharply in the second quarter of the year, but the numbers were still stronger than many analysts had been expecting. The US Commerce Department said yesterday that the annualised growth rate of Gross Domestic Product was 1.4 per cent last quarter, the weakest growth rate since the 0.4 per cent seen in the second quarter of 1995. Most Wall Street analysts had expected growth to stagnate or even decline following the lengthy strike against General Motors
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