GDP and Job Growth Slow Through Year's End

As of mid-August, the latest data from The Conference Board Leading Economic Index for the United States suggests that GDP and job growth will be slow through the end of the year. Business investment is a little stronger than consumer spending. Export growth has been even stronger, although offset by even faster imports. When two-thirds of economic activity is expanding at a snail’s pace, it’s hard to develop forward momentum, especially when there is little help from fiscal or monetary policy. And as pointed out earlier this summer, with little help from Washington, states and cities are busy closing budget deficits (big deficits in several cases), after having raised taxes or slashed services in each of the past two fiscal years.