U.S. Economy Grows at 1.5% Rate as Spending Cooled

July 27 (Bloomberg) -- The U.S. economy expanded at a slower pace in the second quarter as a softening job market prompted Americans to curb spending. Gross domestic product, the value of all goods and services produced, rose at a 1.5 percent annual rate after a revised 2 percent gain in the prior quarter, Commerce Department figures showed today in Washington. Betty Liu, Dominic Chu and Richard Yamarone report on Bloomberg Television's "In the Loop." (Source: Bloomberg)