U.S.'s Q2 Economic Growth Falters

The U.S. economy slowed to a 1.5 percent pace from April through June, as increases in consumer and business spending were partially offset by a drop in government outlays, the Department of Commerce said Thursday.

Larger-than-usual income tax refunds helped Americans keep spending in the second quarter, while soccer's quadrennial World Cup tournament gave them — and visitors from abroad — a good reason to do so, economists said.

Growth overall came in below economists' expectations, which were at roughly 2 percent.

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