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. Rural communities can’t shake effects of subprime crisis
  2. Russian steel to lose duty shelter
  3. CMU spinoff’s CEO gets council honors
  4. Calgon Carbon poised for explosive growth
  5. Market sell-off offers opening
  6. Chevron puts $20M into educating, training Appalachian workers
  7. Allegheny Technologies reports $700,000 loss in 3Q
  8. Amid struggles, top fiscal executive to leave EDMC
  9. Natrona Bottling Co. keeps soda pop operation focused on craft, taste
  10. Duquesne University business center helping Hispanic startups
  11. Stocks rally; S&P 500 has best day of 2014
Subscribe today! Click here for our subscription offers.