WASHINGTON -- The U.S. economy remained stuck in recession instead of getting a little bit better in the second quarter as businesses continued to slash inventories, the Commerce Department said yesterday in a revised report.

Adjusted for inflation, gross national product edged down at an annual rate of 0.1% to mark the third consecutive quarterly decline. Last month, the department's advance estimate showed second-quarter GNP rose 0.4%.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.