Second-Quarter GDP Suggests Recovery Is Losing Steam

Filed under: Before the Bell, Economic Data

Department of Commerce Gross domestic product growth slowed to a 2.4% pace, the slowest in nearly a year, the Commerce Department announced Friday. The reading of this measure of economic activity is too weak to push down unemployment. The quarter saw consumers spend less and retailers limit stock, this combined with the fact that the trade deficit had a larger impact on the economy and we have the formula for some rather unpleasant economic news.

Combine this report with the one indicating that the recession was worse than originally thought and our rosy picture of the economy takes a noticeably gray tint.

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Second-Quarter GDP Suggests Recovery Is Losing Steam originally appeared on BloggingStocks on Fri, 30 Jul 2010 10:00:00 EST. Please see our terms for use of feeds.

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Economic – Gross domestic product – Recession – United States Department of Commerce – Balance of trade
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