ECONOMIC ANALYSIS: U.S. economy slowing, but still showing vitality
By the demanding standards of recent history, the justcompleted second quarter was a tough one for the U.S. economy. The Bureau of Economic Analysis reported an annualized growth rate of just 2.5 percent in the overall economy in the April-June period, significantly lower than historical trends and well below the blistering growth of the preceding three months. In addition, there was unwelcome inflation news, causing some analysts to dust off an old word that hasn’t been used since the early…