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US GDP growth slower than expected

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The U.S. economy grew in the second quarter, but at a slower rate than analysts expected.

Gross domestic product, a measure of all goods and services produced during the quarter, increased by 6.4% on an annualized basis. Analysts expected an 8.4% increase.

Declines in private inventory and residential investment held back gains, CNBC reports.

Read more from CNBC.

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