-->NEW YORK (Dow Jones)--The U.S. economy paused in the second quarter due to higher energy prices, but underlying fundamentals remain strong, U.S. Treasury Secretary John Snow said Friday.

The Commerce Department said Friday that gross domestic product expanded at a 2.8% rate in the second quarter, down from its initial estimate of 3% growth and slower than the 4.5% growth rate registered in the first quarter.

"We did see a pause in the second quarter," Snow said following an event in Michigan."Consumers, I think, fearing higher energy prices - higher prices at the pump - weren't in stores as much," he added, noting that energy prices drain purchasing power from the economy.

However,"we're still seeing the underlying strength of the economy - low inflation, high productivity, unemployment rate falling and the continuing in the pickup on jobs," he added.

Snow said consumers appear to be rebounding in July and August and said that private-sector forecasts indicate that third quarter GDP growth should resemble the first quarter pace more than the second.

-->tja; die Amiwirtschaft ist einfach nicht von dieser Welt; vielleicht aber
auch deswegen weil die REP-Spitzbuben am Wochenende in einem Hochsicherheitstrakt einschliessen lassen, um neue Eroberungszüge zu schmieden

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