Sluggish growth likely for economy
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The economy lost momentum in the spring and probably is in for a spell of somewhat sluggish growth ahead, which could weigh on voters when they go to the polls in November.
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WASHINGTON -- The economy snapped out of a sluggish spell and grew at a faster-than-expected 3.5 percent pace in the final quarter of last year as consumers ratcheted up spending despite a painful housing slump.
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The US economy grew at a slower pace than expected during the last three months of 2004, Commerce Department figures show.
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WASHINGTON -- The economy nearly stalled in the first quarter with growth slowing to a pace of just 0.6 percent. That was the worst three-month showing in over four years.
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U.S. growth will be tepid until mid-year but should get a one-two punch from tax rebates and lower interest rates to boost the economy, Commerce Secretary Carlos Gutierrez predicted on Tuesday.
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The U.S. economy will barely manage to grow in the first quarter this year while inflation will remain somewhat elevated, a quarterly survey issued by the Philadelphia Federal Reserve Bank showed on Tuesday.
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The U.S. economy grew more slowly in  the second quarter than first thought amid shrinking corporate  profits and higher imports, the government said on Friday in a  report that confirmed momentum faltered in the spring.
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A slowdown in the U.S. economy will likely drag on global growth next year, economists predict, but Asia and Europe are expected to remain fairly resilient amid signs of healthy consumer demand.
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The U.S. economy will slow sharply this year and fall behind growth rates in most of the world, according to forecasts in a U.N. report released Wednesday.
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The U.S. economy grew at a softer pace than first estimated in the final three months of last year as businesses slowed production to work off inventories and consumers spent less.
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WASHINGTON -- Economic growth clocked in at a 2.6 percent pace in the spring, a weaker performance than previously estimated and a fresh sign the economy has shifted into a lower gear.
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JapanÂs economy grew at a slower pace than previously reported in the most recent quarter, a sign that a long expansion may be losing steam.
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The economy grew at a 0.7 percent  annual pace in the first three months of this year, the weakest  in more than four years, but a closely watched inflation gauge  unexpectedly accelerated, data showed showed on Thursday.
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The economy inched ahead by 2.2 percent in the fourth quarter of last year, down sharply from the governmentâs prior estimate of 3.5 percent.
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Latest data points to sluggish growth while bond investors fear inflation.
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Economic growth skidded to a near halt in the first quarter, with the worst showing in more than four years raising concerns about how long the country's sluggish spell will last.
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The U.S. economy will expand at a weak pace next year, setting the stage for lower interest rates, according to a UCLA Anderson Forecast report released on Thursday.