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Mixed Signals

1:11 PM MDT | November 1, 2010 | —ARNOLD PEARLMAN

The U.S. economy grew at an annualized rate of 1.7% in the second quarter of 2010, compared with 3.7% in the first quarter, according to the latest estimate by the Bureau of Economic Analysis. Analysts cite a slowdown in inventory investment and a sharp acceleration in spending on imported goods. Spending increased on new homes, as did fixed investments made by businesses, however. Consumer outlays were nearly flat, rising 1.9% in the first and 2.2% in the second. Second-quarter profit growth slowed along with the economy. Profits rose 3% in the second quarter...

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