US GDP forecasts are cut due to sluggish consumer spending
Some economists believe the world’s largest economy will contract for a second straight quarter. Personal spending climbed by only 1.8% in the first three months of the year, down from previous estimate of 3.1%. Annualized GDP projections have been reduced to 1% from 2.7% previously. Several economists slashed their second-quarter US GDP forecasts in the … Read more