The US economic growth rate for the third quarter has been revised down to 2.8 percent from the initial estimate of 3.5 percent.

The main reasons for the revised growth rate, announced by the Department of Commerce, were that consumers remained reluctant to spend, commercial construction has slipped and imports dampened the growth.

Analysts say growth probably will not be strong enough to quickly drive down the nation's unemployment rate, currently at 10.2 percent.

Some analysts think the unemployment could climb as high as 11 percent by the middle of next year, before making a slow descent. It could take at least four years for the unemployment rate to drop back down to normal levels.

The economy finally started to grow again after losses in a record four straight quarters. However, the rebound, now and in the months to come, will probably be lethargic.

The US Federal Reserve officials and economists say the worst recession since the 1930s is very likely over, but the economy's return to good health will take time.

For the current quarter, some analysts think the economic growth will slow to around a 2.5 percent, but others say it could reach 3 percent if holiday sales turn out better than expected.

HSH/AKM