US growth revised down in Q2

Washington: The world´s largest economy grew a little more slowly in the second quarter than previously thought, the government reported on Thursday, with new data showing weaker oil exports and local government spending.

GDP expanded in the April-June period by 2.0 percent, down a notch from the initial 2.1 percent growth estimate and well below President Donald Trump´s three percent target, according to the Commerce Department.

Recession indicators in recent weeks have begun to flash warning signs, and though the American economy is still outpacing the rest of the industrialized world, it has begun to sputter worryingly in some areas. Still, corporate profits rose in the second quarter, according to newly available figures, after falling at the start of the year.