Growth in U.S. economic activity in the second quarter accelerated from the first quarter, according to the initial estimate released by the Commerce Department on Friday, although the pace of growth came in well below economist estimates.
The report said gross domestic product climbed by 1.2 percent in the second quarter following a downwardly revised 0.8 percent increase in the first quarter.
Economists had expected GDP to jump by 2.6 percent compared to the 1.1 percent growth that had been reported for the previous quarter.
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