Economic Growth Slows in Second Quarter

Washington, DC, July 27, 2012 -- The economy grew at an annual rate of 1.5% from April through June, the Commerce Department said Friday.

That's down from 2.0% in the first quarter, a number that was revised higher.

The estimated rate of economic growth in the second quarter marked the weakest quarterly GDP growth since last fall.

The GDP report said consumer spending growth slowed to an annualized rate of 1.5% in the second quarter, down from 2.4% in the first three months of the year.