Instant view: Second-quarter growth revised down to 1 percent

NEW YORK (Reuters) - The U.S. economy grew much slower than previously thought in the second quarter as business inventories and exports were less robust, a government report showed on Friday, although consumer spending was revised up.

COMMENTS:

PAUL BALLEW, SENIOR VICE PRESIDENT AND CHIEF ECONOMIST AT NATIONWIDE INSURANCE IN COLUMBUS, OHIO

"We're expecting that things will be marginally stronger in the last part of the year...The question is are we looking at a fourth quarter recovery?"

SEAN INCREMONA, ECONOMIST, 4CAST LTD, NEW YORK:

WILLIAM LARKIN, PORTFOLIO MANAGER WITH CABOT MONEY MANAGEMENT IN SALEM, MASS

VIMOMBI NHSOM, ECONOMIST, IFR ECONOMICS, A UNIT OF THOMSON REUTERS