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WASHINGTON (AP) - The economy grew at a 2.8 percent pace last quarter, as the recovery got off to a slower start than first thought.
The Commerce Department's new reading on gross domestic product wasn't as energetic as the 3.5 percent growth rate for the July-September period estimated just a month ago.
The main factors behind the downgrade: consumers didn't spend as much, commercial construction was weaker and the nation's trade deficit was more of a drag on growth. Businesses also trimmed more of their stockpiles, another restraining factor.
Economy's rebound not as strong as first thought
We had yesterday in the news the greatest news stories [...] that a new foreign company is coming to take over the empty many industrial buildings of the long gone era for assemble line of tires after cooper tires closed its doors unexpectedly last year leaving their employees jobless right before the holidays, but a big company with only hiring 20 people?, for such a big building, either they are bringing employees from another area or the entire assemble line is Robotics