US economy grew at 1.7 percent rate in 2nd quarter
WASHINGTON (AP) -- The U.S. economy grew at a 1.7 percent annual rate in the April-June quarter, boosted by slightly stronger consumer spending and greater imports.
The Commerce Department says growth was slightly better than its initial estimate of 1.5 percent. Still, growth below 2 percent is not enough to lower the unemployment rate..
Economists expect a little better growth in the second half of the year after seeing some improvement in July data. But most believe the economy will keep growing at a sub-par rate of around 2 percent.