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Peter Spence – US economy ‘close to stagnant for almost a year’ as growth shudders

Hopes of US interest rate rises were pushed into the distance on Friday, as figures showed that the world’s largest economy had slowed sharply and was near stagnation for almost a year. The  US economy grew by just 0.3pc in the three month period to the end of June, according to the Bureau of Economic Analysis (BEA). Economists had anticipated …

The US Boom That Never Was – DEAN BAKER

The Labor Department reported the U.S. economy created 126,000 jobs in March. This was a sharp slowdown from the 290,000 average over the prior three months. This relatively weak jobs report led many economic analysts to comment that the economy may not be as strong as they had believed. This reassessment is welcome, but it really raises the question of …