The economic growth of US was recorded at 1.6% in the second quarter of this year which was revised down from a previous estimate of 2.4%.

Even after the sharp drop, most of the analysts said that it was better than expected before. This latest data on the economy of US has created fears that the US economy is going in to double dip recession affecting other economies of the World as well.

The main reasons behind this fall could be the largest surge in imports in last 26 years and a slower build up of stocks by the companies.

The analysts were expecting the growth rate to fall to 1.3% in the second quarter but it stopped falling at 1.6%. But still it had marked a sharp fall in the economic growth in one of the biggest economy of the world. According to the experts, the US economy needs to grow at a rate of at least 3% to stop the unemployment rate from rising further which is at 9.5% currently.

In the last quarter the growth was driven by the computers, software and new machineries which grew by almost 25%.