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Since there is no demand with consumer spending way down, the economy has NO hope of recovery.
The US economy slowed significantly during the second quarter of 2012, according to figures released Friday by the Department of Commerce, with a fallback in consumer spending, particularly on new cars, accounting for the bulk of the slowdown._____
US gross domestic product grew by 1.5 percent from April to June, down from 2 percent during the first three months of the year (revised up slightly from the previously reported 1.9 percent) and less than half the 4.1 percent rate of growth in the fourth quarter of 2011.
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