Economic growth in '07 weakest in five years
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U.S. growth skidded lower in the fourth quarter and was the weakest in five years for all of 2007, according to a government report on Wednesday that highlighted the toll an enfeebled housing sector has taken on the national economy.
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UK economic growth is unexpectedly revised down to 0.7% in the three months to June, official figures show.
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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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The U.S. economy grew slightly better than first estimated in the first quarter, but still at the weakest pace in more than four years and inflation grew as well, data on Thursday showed.
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The U.S. economy grew slightly faster than previously estimated in the first quarter, but still at the weakest pace in more than four years and inflation was higher as well, data on Thursday showed.
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The economy nearly stalled in the fourth quarter with a growth rate of just 0.6 percent, capping its worst year since 2002.
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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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The economy almost stalled late last year, with its worst growth rate since 2002.
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Slumping corporate spending and exports caused the economy to slow to a crawl in the July-September period, with real gross domestic product expanding just 0.1 percent from the previous quarter, Cabinet Office data showed Friday.
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The economy grew at a weaker-than-expected rate in the final three months of last year, the government's latest estimate on Wednesday showed, as businesses built fewer inventories and consumers spent less.
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WASHINGTON -- The economy grew at a sluggish 2.2 percent pace in the final quarter of last year, much slower than initially thought as businesses tightened their belts amid fallout from the troubled housing and automotive industries.
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The economy could be headed for slower growth in the next several months, according to a report released Thursday by a private research group.
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NEW YORK, October 21  - The US leading economic indicators declined for the fourth consecutive month in September this year indicating sluggish economic growth going into 2005.
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A year ago, the housing market was cooling, interest rates were on the rise and the conventional wisdom was that 2006 would be the year that the U.S. economy sputtered. One could be forgiven for thinking that the Washington regional economy would slow down after a blistering three years.
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The nation's economy grew at its slowest pace in more than a year in the second quarter, weighed down by rising energy prices and slipping exports.
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The U.S. economy grew at a weaker-than-expected 3.1 percent annual pace in the final quarter of 2004 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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The economy limped ahead at just a 0.7 percent pace in the first quarter, the slowest in more than four years. Some businesses clamped down on spending, given the uncertainties about the severity of the housing slump.