The U.S. economy grew at a slower rate than initially estimated during the third quarter of 2011, official preliminary data showed.
Real gross domestic product-the output of goods and services produced by labor and property located in the United States increased at an annual rate of 2.0 percent in the third quarter of 2011 (that is, from the second quarter to the third quarter) according to the “second” estimate released by the Bureau of Economic Analysis.
Analysts had expected the second estimate of U.S. gross domestic product to remain unchanged at 2.5%.
Forex: following the release of the data, the U.S. dollar pared losses against the euro, with EUR/USD up 0.07% to trade at 1.3499.
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