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Image via WikipediaAmerica's recovery from its worst recession since the 1930s is losing momentum as more of the the country's consumers save rather than spend.
Growth in the world's largest economy cooled to a 2.4pc pace in the second quarter of the year from 3.7pc in the first three months of the year, a report from the Commerce Department showed on Friday. Consumer spending, which makes up the lion's share of the economy and has, until recently, helped power global growth, rose 1.6pc in the quarter, down from 1.9pc at the start of the year...
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Growth in the world's largest economy cooled to a 2.4pc pace in the second quarter of the year from 3.7pc in the first three months of the year, a report from the Commerce Department showed on Friday. Consumer spending, which makes up the lion's share of the economy and has, until recently, helped power global growth, rose 1.6pc in the quarter, down from 1.9pc at the start of the year...
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