Economy More Sluggish Than First Thought
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WASHINGTON Aug. 27, 2004 - Weighed down by high energy prices, the economy was even more sluggish than initially believed during the second quarter.
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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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The US economy slowed even more than first thought in the second quarter, as pricey imported oil widened the trade gap. The Commerce Department cut its estimate yesterday of second-quarter
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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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The U.S. economy slowed more sharply  in the second quarter than first thought as oil prices rose and  the trade gap swelled, the government said on Friday in a  report that confirmed momentum faltered in the spring.
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Strained by an ailing housing market and credit woes, the economy in 2007 is expected to log its worst growth in five years and should be somewhat sluggish next year.
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U.S. business productivity grew more  slowly in the third-quarter than first thought, a government  report showed on Tuesday, with other economic indicators also  painting a mixed picture for growth.
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France's economy slows by more than expected in the third quarter, the latest data to raise question marks over growth in the eurozone.
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The market reversed as some statistics suggested economic growth might be slowing more than traders had anticipated.
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he United States economy grew more slowly in the second quarter than previously stated, as it struggled under an increasing trade deficit and a slowdown in consumer spending, the Commerce Department said in a report today.
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The US economy slowed less than previously estimated in the second quarter as exports and inventories grew, revised numbers from the government show.
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WASHINGTON -- The economy limped ahead at just a 0.7 percent pace in the first quarter, the slowest in more than four years, as some businesses clamped down on spending given uncertainties about the severity of the housing slump.
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WASHINGTON : The US economy braked harder than first thought in the second quarter, posting a tepid 2.8 percent annual growth rate as consumers gripped their purses, a government report showed.
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Britain's industrial sector appears to have been a bigger drag on overall economic growth in the third quarter than was first assumed.
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Most parts of the country saw modest economic growth in the past month, although there were pockets of sluggishness as businesses continued to cope with fallout from the troubled housing and automotive industries.
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The double whammy of a worsening housing slump and a credit crunch is punching the economy in its gut. That's likely to mean a period of slower activity in the months ahead.
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The economy ambled into the fall steadily but unstartlingly, with fresh signs of a slowdown as consumers watched spending more warily.