The Wall Street Journal reports on the latest data from the U.S. Commerce Department.
Yet further data revisions going back more than three years show the expansion—already the weakest since World War II—was even worse than previously thought, with GDP increasing at an average annual rate of 2% between 2012 and 2014, down 0.3 percentage point from prior estimates.While the first half’s growth rate of 1.5% was better than expected thanks to the first-quarter revision, economic growth so far this year has been even slower than during last year’s tepid first half and well below the pace of the overall recovery.