When it comes to the economy, the city of Rockford attracts headlines for its consistently high unemployment rate. But a new federal report says the area’s GDP rate posted a strong gain in 2011, beating the national average.
The U.S. economy grew at an annual rate of just 1.5 percent from April through June, as Americans cut back sharply on spending. The slowdown in growth adds to worries that the economy could be stalling three years after the recession ended.
The Commerce Department also said Friday that the economy grew a little better than previously thought in the January-March quarter. It raised its estimate to a 2 percent rate, up from 1.9 percent.