Economy Slows Down; Rates not Likely to Change

Reports gathered from the Federal Reserve Bank's 12 regional banks indicate that the economy slowed down during the spring and early summer periods.

However, analysts predict this, combined with a projected slower pace in the late summer/early fall, will not be enough to convince the Fed to increase the interest rate.

During June and July, the Fed specifically recorded slower pace in consumer spending, manufacturing and construction.

This report comes on the heels of a story published yesterday on AccountingWeb in which American productivity increased just over 5 percent.

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