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Growth slowed in the most recent quarter to its most sluggish rate in five years.
In recent months Dr. Khusayer like many Saudis, had become dangerously impatient with the sluggish rate of government reforms.
But many analysts contend growth is slowing to a sluggish rate of 2 percent or less in the current quarter.
It will stay at the current sluggish rate, for at least the rest of the year and most likely well beyond.
But Fed officials have been focused on two other factors: the near absence of inflation and the stubbornly sluggish rate of job creation.
Arctic ice retreated to its second smallest extent on record during the summer, with winter regrowth occurring at an unusually sluggish rate.
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Still, if the sluggish rates of productivity growth we've seen over the past two years were to persist into the indefinite future, it would take more than a hundred years for output-per-person and living standards to double.
The slowdown was accompanied by rising inflation and sluggish rates of privatization as a result of the crisis over the Kryvyy Rih steelworks—an issue that remained unresolved until that company's sale in October to the Rotterdam, Neth.-based Mittal Steel Co. for $4.8 billion.
Big retail chains such as Sears Holdings, which was expected to announce a 90% dip in first-quarter earnings on May 29th, have seen shrinking revenues because of aggressive discounting.Many Americans are trading down: sales at department stores are increasing at sluggish rates not seen since the last recession, while sales at discount stores are still growing briskly.
Rates are rising, however, from historic lows, and because the economy remains somewhat sluggish, rates are rising very slowly.
While Washington had avoided falling over the "fiscal cliff," the I.M.F. said that the United States had proved too aggressive in carrying out budget cuts, given its still-sluggish rates of growth and high unemployment levels.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com