Via the NYT: U.S. Economy Slowed to 1.6% Growth Pace in 2nd Quarter
Economic statistics released Friday offered the clearest sign yet that the recovery, already acknowledged to be sauntering, had slowed to a crawl.
The government lowered its estimate of economic growth in the second quarter to an annual rate of 1.6 percent, after originally reporting last month that growth in the three-month period was 2.4 percent.
The revision is a significant slowdownfrom the annual rate of 3.7 percent in the first quarter and 5 percent in the last three months of 2024.
I can muster nothing more profound than “not good” at the moment (although perhaps less family-friendly phrasing would be more appropriate).
On balance, I suppose this isn’t a surprise, even if it is disappointing.