US economy grew at sluggish 1.7 pct. pace in Q2

WASHINGTON • The U.S. economy grew from April through June at an annual rate of 1.7 percent — a sluggish pace but stronger than in the previous quarter. Businesses spent more, and the federal government cut less, offsetting weaker spending by consumers. The government on Wednesday sharply revised down its estimate of growth in the January-March quarter to a 1.1 percent annual rate from a previously estimated 1.8 percent rate. Though growth remains weak, the pickup last quarter supports forecasts...

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