That’s the annualized rate at which the U.S. economy grew in the second quarter of this year, according to the BEA’s report this morning. This is a noticeable slowdown, from 2.0 percent last quarter. Stall speed?
(It should be noted, though, that these numbers are often revised substantially; they’re often off by a percentage point or more. Today the Q1 number was revised up from 1.9 percent to 2.0; the first estimate on that number had been 2.2.)