The U.S. economy grew slower than anticipated during the second financial quarter, the U.S. Department of Commerce announced Wednesday.
Economic output reportedly rose by an estimated 2.1% in Q2, below the 2.4% previously predicted by the department.
Likewise, the department revised its business investment growth rate estimate to a 6.1%, down from its previous 7.1% prediction.
The slowing economy likely bodes well for the nation’s inflation rate and could potentially prevent the Federal Reserve from hiking interest rates once again.
