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The US economy raised at an annualized rate of 1.9% in the first three months of the year, somewhat more rapidly than formerly thought, official figures have shown.

This compares to a 0.5% monthly rise. The last estimate by the Commerce Department showed increase of 1.8%.This contrasts with an annualized rate of 3.1% in the final quarter of 2010.

A meeting of weak readings on the U.S. economy and persistent uncertainties over the financial health of some European governments have weighed on sentiment this week. Gloomy signs on unemployment, softness in manufacturing and a continued slump in housing have prevailed.

Posted by Dospel & GanjaParker