by ForexNewsNow Team on July 30th, 2010

GDP data: U.S. economic growth slows more than forecast

NEW YORK (Forex News Now) – The U.S. economy grew at a slower pace than expected in the second quarter, official data showed on Friday in one of the day’s spotlight FX news events.

The Commerce Department reported that U.S. gross domestic product, the broadest measure of economic activity, expanded at an annual rate of 2.4 percent in the second quarter, after expanding a revised 3.7 percent in the previous three months.

Analysts had expected slightly more robust growth of 2.5 percent in the second quarter, two global forex news outlets reported.

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