Friday, May 18, 2007

Economy to slow this summer - data

Economy may slow this summer, data show (AP)

Construction workers build a new house in Palo Alto, Calif., in this May 15, 2007 file photo. Higher gas prices and a sluggish housing industry are taking a toll on the economy, a gauge of future U.S. economic growth showed on Thursday, May 17, 2007. The Conference Board said its index of leading economic indicators dropped 0.5 percent, higher than the 0.1 decline analysts were expecting. The reading is designed to forecast economic activity over the next three to six months. (AP Photo/Paul Sakuma, file)AP - A gauge of future economic activity showed the U.S. economy will slow in coming months, reversing recent gains and suggesting higher gas prices and a sluggish construction industry are beginning to take their toll.


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