Most economists blame tax increases and government spending cuts for the sluggish second quarter. Higher taxes slowed consumer spending. And government cuts subtracted nearly a full percentage point from growth at the start of the year.Even so, the solid pace of hiring suggests the economy is doing better than the growth figures show. Tax receipts have been stronger. Faster growth in the second half of the year would help close those gaps.
US Economic Growth Likely Weakened In 2nd Quarter
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