As the Commerce Department confirmed that real GDP grew at an annualized rate of 3.3% during the second quarter of 2005, this AP story is suggesting that growth will slow for the rest of the year:
The 3.3 percent growth rate for the April-to-June quarter was unchanged from an estimate made a month ago. That performance met analysts’ expectations. In first three months of the year, the economy grew at a healthy 3.8 percent pace. In the aftermath of the two hurricanes, however, economists are predicting that production and hiring will take a hit, slowing overall economic activity in the second half of this year to a pace of around 3 percent. Before the hurricanes, second-half growth was expected to top 4 percent.