US Economy Forecast: Slow Growth, Higher Inflation, Fewer Jobs

Posted August 18th, 2011 at 11:25 am (UTC-5)
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Reports published Thursday predict slow economic growth in the United States, with inflation and unemployment rising and the troubled housing market getting worse.

A private research group, the Conference Board, says its gauge of future economic growth rose more in July than in June.

Other reports were more downbeat . A business group, the National Association of Realtors, says home sales fell 3.5 percent in July.

A separate government report showed U.S. consumers' fuel, food, and clothing costs rose in July at the highest rate in the past four months. Those costs had declined during June.

Other data showed the number of Americans signing up for unemployment compensation rose by 9,000 last week, pushing the nationwide total of jobless claims to 408,000. The unemployment claims are a measure of the number of layoffs nationwide. Some economists say a healthy job market would see layoffs at 400,000 or lower.