U.S. 2nd-Qtr GDP Expands More Than Forecast

July 31 (Bloomberg) -- The economy in the U.S. grew more than projected in the second quarter reflecting an unexpected pickup in inventory building as consumer spending cooled. Growth in the previous three months was revised down. Gross domestic product, the value of all goods and services produced, rose at a 1.7 percent annualized rate, after a 1.1 percent gain the prior quarter, Commerce Department figures showed today in Washington. Alix Steel and Michael McKee report on "In the Loop." (Source: Bloomberg)

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