GDP report: Economic growth revised lower
September 27th, 2012
10:05 AM ET
2 years ago

GDP report: Economic growth revised lower

New York (CNNMoney) - The U.S. economy grew even slower than initially reported in the second quarter, as both consumers and businesses spent less than originally thought, and the drought in the Midwest limited agricultural production.

Gross domestic product, the broadest measure of the nation's economic health, grew at an annual rate of 1.3% from April to June, the Commerce Department said Thursday, slower than the 1.7% rate the government last reported in August.

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Filed under: Economy
soundoff (13 Responses)
  1. rosco

    64% Think Too Many Americans Dependent on Government Financial Aid

    September 27, 2012 10:14 am at 10:14 am |
  2. Gurgyl

    Businesses have money but spending less voluntarily because GOP is instigating. We need to remove Entire Congress idiots in Nov. this fixes problem. All these idiots extracting work with one person the work of ten persons. Workers need to stoop to their level and go slow....what happens if they have chairs for cashier positions. Just idiotic way.

    September 27, 2012 10:26 am at 10:26 am |
  3. Four and The Door

    "The 1.3% increase in GDP was the weakest since the third quarter of last year and one of the weakest seen since the recovery began three years ago," said Chris Williamson, chief economist for Markit. "The weakening was evident across businesses and consumers."
    _________________________________________________________________________________________________
    Is it obvious yet that the Obama Administration's strategy for the economy is a bust? Clearly. And clearly we do not need 4 more years where the only significant economic increase is national debt. Fortunately it is 2012. Romney/ Ryan 2012.

    September 27, 2012 10:28 am at 10:28 am |
  4. Ram215

    Obama's second term will be any better...time for real change, new government before it's too late!

    September 27, 2012 10:28 am at 10:28 am |
  5. Fair is Fair

    Heckuva job, Barry... one heckuva job.

    September 27, 2012 10:40 am at 10:40 am |
  6. rosco

    Taxpayers spent $1.4 billion dollars on everything from staffing, housing, flying and entertaining President Obama and his family last year, according to the author of a new book on taxpayer-funded presidential perks

    September 27, 2012 10:42 am at 10:42 am |
  7. demwit

    Now is the time for economic patriotism! Americans just need to learn the progressive rain dance instead of always complaining about the economic storms. I mean.., this is Obama's fault!

    September 27, 2012 10:43 am at 10:43 am |
  8. demwit

    Noooo..., it's NOT Obama's fault. Just think how much worse it could have been...

    September 27, 2012 10:44 am at 10:44 am |
  9. demwit

    Quick CNN! Add more attack Romney articles so this one gets pushed off the tab..

    September 27, 2012 11:19 am at 11:19 am |
  10. Four and The Door

    Gurgyl
    Businesses have money but spending less voluntarily because GOP is instigating....
    ____________________________________________________________________________________________
    Yeah, we all got together all across the country and decided to sacrifice the good of our business to hurt Obama. :)

    September 27, 2012 11:29 am at 11:29 am |
  11. gt

    for the life of me , i see how these no.s and ask myself how can anyone vote for obama for anything....

    September 27, 2012 11:33 am at 11:33 am |
  12. truth hurts

    But I'm 100% sure the numbers for July, August and September will show a surprisely strong UPTICK to over 2%, which of course will be revised DOWN to 1% AFTER the election.

    WAKE UP AMERICA!!! You are being lied to and manipulated by the Obama administration.

    September 27, 2012 11:38 am at 11:38 am |
  13. Captain Awesome

    What a surprise! Look, I know Romney's not perfect, but I really do believe we need to change our course. This economy barely has a heart beat, but our president would rather party with Jay-Z and the ladies at "The View". Meanwhile, the latest 9/11 attack in Libya is a major scandal. The president dropped the ball and our ambassador is dead. We need some new blood in the White House and really get this economy going.

    An Ambassador died, Obama lied......

    September 27, 2012 11:44 am at 11:44 am |