US ECONOMIC GROWTH SLOWS TO 2.4%
Baku, July 30 (AZERTAC). US economic growth slowed between April and June, with GDP growing by an annualised rate of 2.4%, the US Commerce Department has said.
This compares with an annual rate of 3.7% in the previous quarter.
The second quarter figure is a first estimate, and could be revised either up or down in the coming months.
There are growing fears about the strength of the US economic recovery, particularly concerning the country`s high unemployment rate of 9.5%.
Despite the slower rate of growth, economic adviser to the White House Christine Romer said: "This solid rate of growth indicates that the process of steady recovery from the recession continues.
"Nevertheless, faster growth is needed to bring about substantial reductions in unemployment."
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