The U.S. economy grew at a real (inflation-adjusted) 1.5% (seasonally adjusted annual rate) in the second quarter of 2012, the Bureau of Economic Analysis reports. That’s roughly in line with consensus forecasts, but it’s disappointing nonetheless. The economy’s tepid 1.5% growth rate represents a slowdown from Q1’s 2.0% pace and a world away from the 4.1% rate posted in last year’s fourth quarter.

Continue reading →

‘Subpar’ Now Par for the Economic Course
The Wall Street Journal | July 26
Friday’s first take on U.S. gross-domestic-product growth for the second quarter is unlikely to improve the mood: forecasters see an annualized increase of just 1.5%. Not only is that lower than a downward-revised 1.9% rate in the first quarter, but it would put the economy even farther off the growth trajectory that it typically would be enjoying three years after a recession’s end.

Continue reading →