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WASHINGTON, Oct. 29 (Xinhua) -- The U.S. economy expanded at an annual rate of 1.5 percent in the third quarter, down from the revised 3.9 percent increase in the second quarter, the Commerce Department said on Thursday.
On a year-on-year basis, the economy increased 2 percent in the third quarter, which represent the slowest expansion since the first quarter of 2014.
According to the Commerce Department, the slower growth in the third quarter mainly reflected a downturn in private inventory investment and slowdown in exports, consumptions and government spending.
