Slow Growth in the US: The Unsettling Confluence of Inflation and Trade Deficits The latest GDP numbers from the Commerce Department's Bureau of Economic Analysis show a mixed picture, with growth slowing to 1.
5 percent in the second quarter following a 2. 1 percent increase in the first quarter. Consumer spending remains robust, fueled by generous tax refunds and higher petrol prices, but the overall trend is concerning.
The trade deficit has been exacerbated by tensions with Iran and resulting fuel price increases. The average petrol price now stands at $4. 09 per gallon, up from $3.