America's economic growth slows, grows 1.1 percent in spring

2016-08-26 1

America's economy didn't grow all that much this spring, expanding at a less-than-stellar 1.1 percent pace. Friday's estimate is slightly below the Commerce Department's previous figure of 1.2 percent growth as measured by gross domestic product. Consumers offset the corporate cutbacks in the April-June quarter by spending at the fastest pace in six quarters, Commerce said Friday.