US economy likely lost step in Q2; expected to regain pace
WASHINGTON (REUTERS) - US economic growth likely slowed sharply in the second quarter, but it is poised to regain momentum as the burden brought on by belt-tightening in Washington eases.
Gross domestic product probably grew at a 1.0 per cent annual rate, a step back from the first-quarter's 1.8 per cent pace, according to a Reuters survey of economists.
Some said growth could be even weaker, with forecasts ranging as low as 0.4 per cent.
Tighter fiscal policy, a slow pace of inventory accumulation and sluggish global demand, which has dampened exports, are seen as having hobbled the economy in the April-June period.