Signs Point to Weakening Economy

August 16, 2007 – The August 2007 Economic Snapshot from the Center for American Progress says economic indicators point to a weak and weakening economy. The snapshot’s author, Christian Weller, says the end of the housing boom has spilled into the wider economy, which continues face large risks such as large household debt, a high trade deficit and continued budget deficits.

Key economic indicators pointed out in the snapshot include: low wage growth, shrinking benefits, rising family debt, a slowing housing market and climbing poverty.

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