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GDP growth slows to 1.5 percent in June
July 27, 2012
The U.S. economy grew at an annual rate of just 1.5 percent in June, prompting worries of an economic stall.
The entrenched European financial crisis and the looming fiscal cliff of U.S. tax hikes and spending cuts at the end of the year appear to be holdingn back growth as businesses decide to put off new investments.
The sluggish growth is bad news for President Obama given the economy’s central role in the presidential campaign.
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