GDP Growth Slowing
The United States economy expanded at an annual rate of 2.4 percent in the second quarter, after expanding a revised 3.7 percent in the previous three months, the Commerce Department reported on Friday. [. . .] Growth in consumer spending, which is usually a leading indicator of a recovery in part because it accounts for such a large share of the economy, has been leveling off. It grew at an annual rate of 1.6 percent in the second quarter, after an annual increase of 1.9 percent in the previous quarter.
The economy is in serious trouble. Will the Beltway wake up to this fact? The Fed seems to be waking up, but what about the President and the Congress? Can you spell double-dip?
Speaking for me only
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