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Economic growth in the July-September quarter was likely weak. Many economists expect growth at an annual rate of 1.5 percent, down from a 2.5 percent rate in the April-June quarter. In the second quarter, restocking by businesses added 0.4 percentage point to annual growth. The outlook for the economy in the current October-December quarter has dimmed. Hiring has slowed, and the government shutdown is expected to weigh on growth. Employers added just 148,000 jobs in September, down from August and an indication that hiring was slowing before the shutdown. The shutdown is expected to cut about $25 billion from the economy and likely will hold growth to an annual rate below 2 percent in the fourth quarter. Before the shutdown, many economists had expected growth to improve in the final three months of the year to an annual pace of 2.5 percent or higher.
[Associated
Press;
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