Economy posted growth in spring

? The economy grew at a respectable pace this spring, despite the financial crisis, soaring fuel prices and moribund housing market. But as the impact of government stimulus payments fades and a boom in exports levels off, the economy is likely to face deepening challenges in the months ahead, economists said.

Consumers spent their economic stimulus checks and exporters shipped more goods abroad in the second quarter, according to a report from the Commerce Department Thursday, leading to a 1.9 percent annual growth rate in gross domestic product. That is not far below the nation’s long-term growth potential.

The department said that the economy shrank at the end of last year, revising an earlier estimate of growth. And there is evidence that the decent growth in the second quarter will come at a cost. “We essentially traded strong growth now for weak growth later,” said Sung Won Sohn, an economist at California State University. “As a result, this may turn out to be a longer recession than we’re used to.”