WASHINGTON - The government says the economy's spring rebound turned out to be slightly less energetic than previously thought. Even so, the improvement is expected to be short lived as the country gets pounded by the worst financial crisis in decades.
The Commerce Department reported Friday that gross domestic product, or GDP, increased at a 2.8 percent annual rate in the April-June period. That wasn't as strong as the 3.3 percent growth estimated a month ago. But it did mark a pick up after two terrible quarters.
Economists were predicting the second-quarter GDP reading would stay at 3.3 percent.