UPDATE 1-Obama to comment on U.S. economy after GDP data


(Adds Obama to discuss GDP, "cash-for-clunkers" program) WASHINGTON, July 31 (Reuters) - President Barack Obama will comment on the U.S. economy on Friday at 1:15 p.m. EDT/1715 GMT, the White House said, after the government reported that the economy contracted at a slower-than-expected pace in the second quarter. A White House official said Obama was expected to talk about the news that gross domestic product fell 1.0 percent in the second quarter, as well as efforts to add money to a ...

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