US economy grows more than expected in Q2

The US economy has beaten forecasts from analysts after it expanded by 1.5% in Q2.

Despite expanding at its slowest pace in a year as weakening employment numbers dampened consumer spending, the growth rate was nonetheless just ahead of forecasts which had it at 1.4%. The first official reading of Q2's GDP figure comes after the world's largest economy expanded by 2% in Q1, and by 3% in the fourth quarter of last year. A pullback in growth had been expected, with analysts blaming households cutting back on their spending as a crucial dampener on growth. Meanwhile the impact from the deteriorating eurozone, and the threat posed by the approaching US fiscal cliff, ...