Friday, July 27, 2012
Obama has been dealt a devastating blow as new figures reveal that the U.S economy is slowing even further – growing at a rate of just 1.5% in the last quarter
The slow rate, between April and June 2012, comes after Americans cut back sharply on spending and adds to worries that the economy could be stalling three years after the recession supposedly ended. It is significantly down from the 2% rate between January and March 2012. Growth at or below 2% isn't enough to lower the unemployment rate, which is 8.2% - and most economists don't expect growth to pick up much in the second half of the year. The U.S. economy has never been so sluggish this long into a recovery. The Great Recession officially ended in June 2009.