US Economic Growth Slows Down in Q2
Houston-based financial strategies firm Madison William & Co. on Friday said that the economic growth in the country has slowed down as more companies spend heavily on equipment while American consumer spending declined.
A US-based financial strategies firm on Friday said that the economic growth in the country has slowed down as more companies spend heavily on equipment while American consumer spending declined.
According to the reports, US-based companies are now trying to patch up losses in the past two year, which resulted to the highest and fastest business spending in over four years.
Houston-based financial strategies firm Madison William & Co. said that there is nothing wrong with companies spending on equipment and other resources. However, this should be complemented by a demand, which is contrary to the low consumer spending recorded.
The strategies firm believes that the slow down in consumer spending and high purchases of companies could lead to overstocked inventories, which could lead to inflation.
“The economy is slowing down. Many in the industry have anticipated this and it is now happening. Will business investment fall off a cliff next quarter if domestic consumer spending continues to flag?" said Lee Olver, chief of Madison Williams & Co.
Based on government figures, the US gross domestic product has dropped at a 2.4 percent annual rate in July after being revised to 3.7 percent in March.
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