New government figures show that the U.S. economy expanded at a far slower pace in the second quarter than economists predicted, though real gross domestic product (GDP) surpassed its pre-pandemic high, cementing the V-shaped recovery. Gross domestic product (GDP) rose at a 6.5 percent annualized rate last quarter, the Commerce Department said in a release Thursday. The number is an “advance” estimate and will be revised in a future update. At the same time, the Commerce Department revised its first-quarter GDP growth estimate from 6.4 percent down to 6.3 percent. Robust consumer spending and business investment drove economic output higher in the second quarter, while a rise in imports and a sharp decrease in private inventory investment—led by a drop in retail trade inventories—were a drag on output, the Commerce Department said. Economists polled by Reuters had forecast GDP rising at an 8.5 percent rate last quarter, while a Dow …