Lots of doom and gloom in economic outlook

A U.S. economy that plodded along in the first three months of the year likely grew even less in the April-June quarter. And most economists no longer think growth will strengthen much in the second half of 2012. Weaker hiring, nervous consumers, sluggish manufacturing and the overhang of Europe’s debt crisis might be pointing toward everyone’s big fear: another recession. Against that background, the government on Friday will issue its first of three estimates of how much the U.S. economy expanded last quarter. The consensus forecast is that growth slowed to an annual rate of 1.5 percent, according to a
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