The US economy slowed down to an annualized
growth rate of 1.9 percent in the first quarter of 2012, the
Commerce Department said Thursday.
It was confirming a preliminary estimate made in May, which also stood at 1.9 percent.
In the final quarter of 2011, the growth rate was a strong 3 per cent, on the back of increases in private consumption and efforts by companies to restock inventories.
The drop underlines the challenge faced by President Barack Obama as he strives for another term in November elections. Republican rival Mitt Romney has focused his attacks on Obama's handling of the struggling economy.
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