Friday, July 27, 2012

Obamanomics, Year 3.5: Yet More Bad News!

USA Today: “Second-Quarter Growth Barely Half The Pace Earlier In The Year…” “The U.S. economy slowed in the spring, with second-quarter growth barely half the pace earlier in the year, the government reported today.” (Tim Mullaney, “Economy Weak In Second Quarter, GDP Grows At 1.5% Rate,” USA Today, 7/27/12)
  • USA Today Headline: “Economy Weak In Second Quarter, GDP Grows At 1.5% Rate” (USA Today, 7/27/12)
Wall Street Journal: “U.S. Economic Growth Pulled Back Further During The Second Quarter…” U.S. economic growth pulled back further during the second quarter of the year as consumer spending slowed--a reading that suggests domestic fiscal worries may becoming a more significant drag.” (Eric Morath and Sarah Portlock, “U.S. Growth Slows In 2nd Quarter,” Wall Street Journal, 7/27/12)
  • Wall Street Journal Headline: “U.S. Growth Slows In 2nd Quarter” (Wall Street Journal, 7/27/12)
The Associated Press: “The Slowest Growth In A Year…” “The U.S. economy grew at an annual rate of just 1.5 percent from April through June, as Americans cut back sharply on spending. The slowest growth in a year adds to worries that the economy could be stalling three years after the recession ended.” (“Economic Growth Slowed To 1.5 Percent Rate In 2nd Quarter, Slowest In A Year,” The Associated Press, 7/27/12)
  • The Associated Press Headline: “Economic Growth Slowed To 1.5 Percent Rate In 2nd Quarter, Slowest In A Year” (The Associated Press, 7/27/12)
The New York Times: “The United States Economy Grew By A Tepid 1.5 Percent Annual Rate In The Second Quarter…” “The United States economy grew by a tepid 1.5 percent annual rate in the second quarter, losing the momentum it had appeared to be gaining earlier this year, the government reported Friday.” (Shaila Dewan, “U.S. Economy Slowed To A Tepid 1.5% Rate Of Growth,” The New York Times, 7/27/12)
  • The New York Times Headline: “U.S. Economy Slowed To A Tepid 1.5% Rate Of Growth” (The New York Times, 7/27/12)
CNN Money: “Down Significantly From A 2% Rate In The First Three Months Of The Year.” “Gross domestic product, the broadest measure of the nation's economic health, grew at an annual rate of 1.5% from April to June, the Commerce Department said Friday. That's down significantly from a 2% rate in the first three months of the year.” (Annalyn Censky, “GDP Report: U.S. Economy Slowed In Second Quarter,” CNN Money, 7/27/12)
  • CNN Money Headline: “GDP Report: U.S. Economy Slowed In Second Quarter” (CNN Money, 7/27/12)
Reuters: “The Weakest Pace Of Growth Since The Third Quarter Of 2011…” “U.S. economic growth slowed as expected in the second quarter as consumers spent at their slowest pace in a year, potentially pushing the Federal Reserve closer to pumping more money into the economy. Gross domestic product expanded at a 1.5 percent annual rate between April and June, the weakest pace of growth since the third quarter of 2011, the Commerce Department said on Friday.” (Lucia Mutikani, “Wary Consumers, Trade Curb U.S. Growth In Q2,” Reuters, 7/27/12)
  • “Limited Scope For Growth To Bounce Back In The Third Quarter.” “Recent economic data ranging from employment to manufacturing suggest limited scope for growth to bounce back in the third quarter.” (Lucia Mutikani, “Wary Consumers, Trade Curb U.S. Growth In Q2,” Reuters, 7/27/12)
Wall Street Journal: “The Second-Weakest Rebound Of The Post-World War II Era…” “The current economic recovery is less robust than initially thought and — through its first two-and-half years — the second-weakest rebound of the post-World War II era, according to data the Commerce Department released Friday.” (Eric Morath And Sarah Portlock, “Current Recovery Second Slowest Postwar Rebound,” Wall Street Journal, 7/27/12)
Financial Times: “Confirms The Loss Of Momentum In The World’s Largest Economy Since The Spring…” “The figure, which was broadly in line with market expectations, confirms the loss of momentum in the world’s largest economy since the spring and is not fast enough to bring down high unemployment.” (Robin Harding, “US GDP Growth Rate Slows To 1.5 Per Cent,” Financial Times, 7/27/12)

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