White House Sees 2005 Economic Growth Slowing to 3.5%
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US economic growth will slow to 3.5 percent in 2005 from 3.9 percent this year, generating average monthly gains in payrolls of about 175,000 jobs, according to President George W. Bush&#39;s administration.
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U.S. growth was the weakest in five years for all of 2007, highlighting the economic toll housing woes have taken.
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Restrained by a worse-than-expected slump in housing, the economy will grow at the slowest pace in five years in 2007, leading economic forecasters say. They predict consumers will get a break on inflation from falling energy prices.
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The U.S. economy grew at a  weaker-than-expected 3.1 percent annual pace in the final  quarter last year, its slowest since the beginning of 2003 as  the country's trade performance deteriorated and inflation  picked up, a government report on Friday showed.
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U.S. President George W. Bush's fiscal 2009 budget proposal released on Monday takes into account that the U.S. economy is facing a slowdown, the White House said.
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The Commerce Department said Friday that the economy grew at a 3.7 percent annual rate in the third quarter  --  less than economists expected.
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Economic growth slowed sharply in the third quarter to its weakest level since the run-up to last year&#39;s Iraq war, reinforcing expectations the Bank
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The U.S. economy is slowing to a steady growth rate that provides a basis for dealing with necessary changes to retirement and health care programs, Treasury Secretary Henry Paulson said on Tuesday.
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The US economy raced ahead at a 5.6 percent pace in the first quarter, the government has said, revising upward its last estimate of a 5.3 percent growth rate.
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The Bush administration, after being ridiculed by Democrats for an overly optimistic jobs forecast this year, on Friday significantly reduced its forecast for new jobs that will be created in 2005. It slightly boosted its estimate for overall economic growth.
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The White House on Tuesday lowered its forecast for economic growth this year and into 2008, reflecting the drag from the housing slump.
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October 30, 2004 -- The US economy grew at a slower-than-expected 3.7 percent annual rate in the third quarter as rising oil prices contributed to a record trade deficit and companies added less to inventories.
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The U.S. economyÂs third-quarter slump was not as bad as first estimated, but indicators suggest a steeper decline is coming soon.
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The U.S. economy will see a mild slowdown as the once-surging housing market cools but overall growth will soon bounce back, White House economic adviser Al Hubbard said on Thursday.
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WASHINGTON - The Bush administration released a new economic forecast for 2005 on Friday in which it boosted growth forecasts slightly from a year ago but cut back sharply on its estimates of new jobs.
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US economic growth drops to a weaker-than-expected annual rate of 0.6% in the final quarter of 2007.
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The White House predicted the economy would escape a recession and unemployment would remain low this year, though it acknowledged growth had already slowed.