2 Percent

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11:06 AM, Nov 22, 2011 • By DANIEL HALPER

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The Commerce Department has revised its estimate of economic growth to 2 percent, down from the previous estimate of 2.5 percent. CNBC reports:

The U.S. economy grew more slowly than previously estimated in the third quarter, but weak inventory accumulation amid sturdy consumer spending supported views output would pick up in the current quarter.

Gross domestic product grew at a 2.0 percent annual rate in the July-September quarter, the Commerce Department said in its second estimate on Tuesday, down from the previously reported 2.5 percent.