By Sama Marwan,
The US economy saw a slowdown in growth during the second quarter of 2024, with GDP rising only by 1.7%, compared to 2.4% in the previous quarter.
Economists attribute this deceleration to persistent inflationary pressures, particularly in the housing and energy sectors.
Rising costs have curbed consumer spending, which is one of the key drivers of US economic growth.
Despite the Federal Reserve’s efforts to control inflation through interest rate hikes, prices for essential goods remain high, and this is having a negative impact on businesses and households alike.
However, experts believe that once inflation begins to stabilize, economic growth could recover toward the end of the year
