US GDP Growth Continues at Sluggish Pace

26 December 2006

WASHINGTON DC: The US economy's expansion slowed to 2% in the July to September third quarter, according to latest Commerce Department data.

Economists believe there is little prospect of anything more than modest growth in the months ahead thanks to the deepening housing slump, the toll of the Federal Reserve's two-year credit tightening campaign and once-surging energy prices.

The Conference Board research group said its index of leading economic indicators rose a tepid 0.1% in November from October for the second consecutive month. It expects "slow economic growth is likely to continue in the near term".

Data sourced from Wall Street Journal Online; additional content by WARC staff