Economy Grows Less Than Hoped

1.3 percent growth lower than the 1.7 percent that was predicted


Growth in the US economy between April and June has been revised downwards.

Gross domestic product (GDP) in the second quarter grew at an annual rate of 1.3% in the second quarter, down from the previous estimate of 1.7%.

One of the reasons for the cut was the worst drought for 50 years, which cut farm inventories, the Commerce Department said.