US economic growth slowed to 1.5 percent in second quarter

The United States’ economic growth has slowed down to a marked 1.5 percent in the second quarter of 2012, as the result of the country’s economic uncertainty.

According to a US Commerce Department report, the country’s economic growth slowed to an annual rate of 1.5 percent low by the end of June; 0.5 percent less than what the country experienced in the first quarter of the year 2012.

“The main take away from today’s report, the specifics aside, is that the US economy is barely growing,” Dan Greenhaus, chief economic strategist at BTIG LLC, was quoted by AP as saying.

“Along with a reduction in the actual amount of money companies were able to make, it’s no wonder the unemployment rate cannot move lower.” Greenhaus said.

The country’s poor economic growth, which is below two percent, is not enough to lower the country’s widespread and soaring unemployment rate, which stood at 8.2 percent last month.

On the other hand, according to the financial analysts, the poor economic growth is due to the fact that less and less Americans are willing to spend on consumer items.

The newly released information also suggests that the US economy is still vulnerable to shocks in the unstable international markets as the market uncertainty is still predominant in the country.