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There is a new report coming out of Washington showing the economy in the United States is slowing down compared to where it was a year ago. The economy is even slowing down from the first quarter of this year. This recent slowdown in the economy shows how the fragile the economic turnaround is and how it is unlikely to be providing many new jobs in the coming months.
The growth percentage in the 2nd quarter in 2010 was 2.4% and 3.7% growth in the first quarter. Both numbers were down from the 4th quarter in 2009 of 3.7%. This data suggests a deeper recession then any other data previously suggested.
Many analysts have attributed the downturn to the housing tax credit expiring, as well as the lack of stimulus checks and other stimulus style benefits that were helping the economy rebound. There are economics that are suggesting another round of stimulus checks would be key to helping in the recovery of the recent downturn.
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