31 Jul 2010

US economic growth slows

7:09 am on 31 July 2010

Economic growth in the United States has slowed in the past three months, raising concern about the strength of the country's recovery from recession.

The US economy grew by an annualised rate of 2.4% between April and June compared to 3.7% in the previous quarter.

The slowdown reflected a surge in imports and weak consumer spending, however business investment and the construction of new homes rose sharply in the second quarter.

The second quarter figure is an estimate which could be revised either up or down in the coming months, the BBC reports.

The US economy has now grown for four straight quarters.