US Growth Output Downgraded

As Federal Reserve members continue their two-day session at Jackson Hole, Wyoming, the Commerce Department released a revised growth figure for the U.S. economy for the second quarter. The revised figure shows the economy grew at an annualized rate of 1 percent for the three months ending in June compared to an earlier estimate of 1.3 percent. The worse-than-expected result will add pressure to Fed Chairman Ben Bernanke to announce further stimulus efforts.

Source: BBC News

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