Slower growth for the U.S. economy in Q3 2010
en-USToday, it was announced that the U.S. economy grew at 2.4% in Q2 2010, much lower than 3.7% from Q1 2010. I would imagine lower growth to continue in Q3.
The usual factors such as, low consumer spending, high unemployment rate(9.5% in June 2010), debt and less access to credit will be responsible for lower growth in Q 3 also. However, the major factor that will contribute in Q3 and Q4 is absence of the homeowners tax credit.
Considering all these factors, I would say that the economy is expected to grow at a slower pace in Q3 (around the same as Q2). However, growth in Q4 will be lower than that.
