(24/7 News) -- The economy is growing at a steady pace, though falling short of economist's expectations.
The Commerce Departments reevaluation of the Gross Domestic Product in the second quarter remained unchanged at 2.5-percent. Economists thought GDP would jump up a tick. State and local spending rose, but were offset by companies restocking shelves less frequently than previously reported.
Inflation measured by prices for consumer purchases fell a tenth of a percent, the first decline since the end of the Great Recession, which could be trouble if it indicates the economy is going into deflation.