U.S. Growth Slows to 2.2%, Report Says

This article discusses the slowdown in growth that occurred after the first quarter. It says that Republicans may try to use this to say that the Obama administration is hindering economic growth. However, the Obama administration is focusing on the positives, such as growth in consumer spending and an increase in residential building. They also say that the private sector is still picking up and the president's policies aim to help this. The growth was less than expected but did not have a large negative effect on the stock markets. Business investment declined but consumer spending increased. Construction related to mining, oil, and gas had the largest decrease in investment, while investment in factories and office buildings increased. It is not believed that another slowdown will occurs seeing as the one last year was caused by external shocks. The article ends with the idea that the growth rate of 2.2 is sustainable but then questions whether or not it is acceptable.