Economy skids dangerously close to contraction
Commentary: Spending weakening, but incomes still growing
By MarketWatch
WASHINGTON (MarketWatch) — U.S. economic growth has again slowed
sharply, skidding dangerously close in the second quarter to an outright
contraction in gross domestic product.
Following the releases Monday of tepid reports on retail sales and inventory accumulation, forecasters marked down their GDP expectations from 1.4% to 1.1%. It’s probable that U.S. GDP
rose less than 2% for the third quarter in a row, and it’s possible
that growth was less than 1% for the second quarter in the last three.
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