The government on August 27 slashed second quarter economic growth to a pace of 1.6%, from 2.4% projected previously.
It was slightly higher than expected by most economists who had expected gross domestic product (GDP) growth to be shaved by nearly half to 1.4%.
The cut in growth stemmed from mainly from a "sharp acceleration in imports and sharp deceleration in private inventory investment," the Commerce Department said.
Copyright Agence France-Presse, 2010
