Free Republic

The U.S. economy expanded at a slightly faster pace than previously thought in the second quarter of 2011, led by a pickup in consumer and construction spending, government data showed Thursday. Gross domestic product rose at an annual rate of 1.3% in the second quarter, the Commerce Department said. The rate of GDP growth was faster than the government’s prior reading of 1.0%.

NEW YORK (Dow Jones)--U.S. stock futures fell Friday after data showed the U.S. economy slowed in the second quarter and the government said the recession was deeper than earlier believed, adding to concerns over the recovery's strength. Dow Jones Industrial Average futures were recently off 70 points at 10339, while Standard & Poor's 500 futures dropped 8 points to 1089 and Nasdaq Composite futures declined 15 points to 1842. Prior to the data, Dow futures had been off 42 points, S&P 500 futures were down 5 points and Nasdaq futures were off 9 points. Changes in stock futures do not...