Economy grew at 2.5 percent rate
WASHINGTON — The U.S. economy grew at a 2.5 percent annual rate from April through June, an improvement from the first three months of the year. But economists are worried that growth may now be slowing.
The Commerce Department said Thursday that its final look at economic growth in the spring was unchanged from a prior estimate made last month.
However, the components of growth were altered slightly.
Businesses added a bit less to their stockpiles and exports did not grow as fast as previously thought. These downward revisions were balanced by slightly stronger spending by state and local governments.
Many analysts believe growth is slowing to a sluggish rate at or below 2 percent in the current quarter.
In other news
THE FEDERAL BUREAU of Investigation is probing an “intrusion” targeting data at LexisNexis, one of the nation’s largest collectors of information about people and businesses, a company spokesman said.
FEWER AMERICANS signed contracts to buy U.S. homes in August, the third consecutive decline. The drop could mean that higher mortgage rates are starting to deter some buyers. The National Association of Realtors said Thursday that its seasonally adjusted index for pending home sales declined 1.6 percent to 107.7 last month.
A TISSUE MAKER in Anderson, S.C., is working on an expansion that is expected to add at least 200 jobs. First Quality Enterprises, which already employs about 500 at the plant, is clearing land for a third tissue-making machine, the Anderson Independent-Mail reported.
MCDONALD’S SAYS it will start giving customers the choice of a salad, fruit or vegetable as a substitute for french fries in its value meals. McDonald’s Corp. will roll out the change early next year in the U.S.