US economic growth stagnated in first half

WASHINGTON: The US economy grew at a dead-pace 0.4 percent in the first quarter and only 1.3 percent in the second quarter of 2011, the government said Friday in a report that was far worse than expected.

The Commerce Department sharply revised lower its previous estimate of first-quarter gross growth of 1.9 percent, while the second-quarter number fell short of expectations of a 1.7 percent annual rate. (AFP)

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