TribLIVE

| Business


 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

U.S. growth weakest since recession, IMF says

On the Grid

From the shale fields to the cooling towers, Trib Total Media covers the energy industry in Western Pennsylvania and beyond. For the latest news and views on gas, coal, electricity and more, check out On the Grid today.

By The Associated Press
Thursday, July 24, 2014, 12:01 a.m.
 

The nation's economic growth this year will likely be at the weakest pace since the Great Recession ended, the International Monetary Fund said, mostly because of a sharp, weather-related contraction in the first quarter.

But the global lending organization said Wednesday that it still expects growth resumed in the April-June quarter and will remain healthy in the second half of this year and next.

In its annual report on the U.S. economy, the IMF projects growth will be just 1.7 percent this year, down from a 2 percent estimate in June. That's below last year's 1.9 percent pace and would be the slowest annual rate since June 2009.

The IMF's outlook is more pessimistic than that of the Federal Reserve, which expects growth of at least 2.1 percent. But it is in line with most other private economists.

 

 
 


Show commenting policy

Most-Read Business Headlines

  1. Energy sector adjusts to global oil plummet
  2. ‘Staff Pick’ is golden ticket on Kickstarter
  3. EPA says it won’t regulate coal ash as hazardous waste
  4. ‘Cause for Paws’ telethon helps dogs find homes
  5. 3 tips to use up health account funds
  6. Don’t stop job hunt in December
  7. Diane Stafford: Consider digital footprint
  8. Agriculture prospects envisioned in Cuba
  9. Kim Komando: Can you get a virus on your smartphone?
  10. Mind the time: Optimize last-minute shopping
  11. Real estate union: Howard Hanna buys Langholz Wilson Ellis
Subscribe today! Click here for our subscription offers.