English | دری

US economy growing at a slow pace

in International Business

US economy growing at a slow pace

The US economy grew at an annualized rate of 1.5% in the second quarter.

The figure could have been worse. Some analysts were predicting even lower growth in the second quarter.

The slowdown is reflective of a weak consumer spending.

“If the economic data next week continues [to be weak], then probably the market can keep their hopes up that [the] Fed would eventually resort to more stimulus,” said Peter Cardillo, chief market economist at Rockwell Global Capital.

The figures make dismal reading for the White House and certainly a blow to President Obama in securing his job for a second term.

As campaigning gets serious the economy is losing momentum not gaining it and this is the issue voters say they care most about.


Tags assigned to this article:
US economy growing at a slow pace

Related Articles

Eurozone ministers 'to discuss Spain bank bailout'

Eurozone finance ministers are to hold a conference call to discuss a bailout for Spanish banks, the BBC understands. EU

Germany's Audi buys Italian motorcycle firm Ducati

Volkswagen’s Audi arm has bought Italian motorcycle firm Ducati for an undisclosed sum. The 20-member supervisory board of Europe’s largest

US economy grows at a rate of 2%

The US economy expanded at an annualized rate of 2% in the third quarter, the Commerce Department said. The growth

No comments

Write a comment
No Comments Yet! You can be first to comment this post!

Write a Comment

Your e-mail address will not be published.
Required fields are marked*

Time limit is exhausted. Please reload the CAPTCHA.