New numbers released by the Commerce Department’s Bureau of Economic Analysis today show that economic growth slowed in the April-June quarter, with GDP rising at an anemic 2.4 percent annualized rate over that span. That’s down from the revised 3.7 percent rate in Q1.
Personal consumption, which drives about two-thirds of economic growth, grew at a mere 1.6 percent.
There is some robust growth to be reported though. The federal government grew by an annualized rate of 9.2 percent, including 13 percent in non-defense spending.
Recovery summer!






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