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U.S. stocks fall on weaker economic data
POSTED: 3:53 p.m. EDT, December 22,2006

U.S. stocks ended lower Thursday after U.S. revised its GDP from 2.2 percent to 2 percent in third quarter.

In the closing trading, the Dow Jones Industrial Average was down 42.62, or 0.34 percent, to 12,421.25. The Standard & Poor's 500 index fell 5.22, or 0.37 percent, to 1,418.31. The Nasdaq composite index lost 11.76, or 0.48 percent, to 2,415.85.

The Commerce Department reported Thursday that the U.S. economy grew at a 2 percent real seasonally adjusted annual rate in the third quarter, slightly lower than the 2.2 percent estimated a month ago.

It was the slowest growth since the fourth quarter of 2005, when hurricane damages slowed the economy to 1.8 percent. The economy grew at a 2.6 percent pace in the second quarter.

Separately, the U.S. leading index increased 0.1 percent, the coincident index increased 0.2 percent and the lagging index increased 0.5 percent in November, suggesting that slow economic growth is likely to continue in the near term, according to a report by New York-based Conference Board, a business research group.

From:xinhua
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