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The US economy slowed down to an annualized growth rate of 1.5 per cent in the second quarter of 2012, according to the Commerce Department on Friday.
The figure is the first in a series of three estimates of second
quarter growth.
In the first quarter of 2012, the growth rate was 1.9 per cent,
reflecting an overall global slowdown and the European debt crisis.
Growth was 3 per cent in the final quarter of 2011.
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.
