GOOD BUT NOT GREAT

U.S. Economic Growth Slowed to 2.1 Percent in Second Quarter

Some experts were expecting GDP to have dipped below 2 percent.

U.S. gross domestic product rose at a 2.1 percent annual rate in the second quarter, the Commerce Department announced Friday, in a significant deceleration from the 3.1 percent seen in the first quarter. However, the decline was slightly less than expected and suggested the decade-long U.S. economic expansion still has momentum. GDP is the broadest measure of the health of a national economy. Some experts were expecting the bellwether figure to to be below 2 percent over the last quarter due to international trade disputes and businesses cutting back on investments. But consumer spending rose sharply at an annualized rate of 4.3 percent in the second quarter, and the job market continued to be strong.